Tether, the leading stablecoin issuer by market capitalization, is strengthening its footprint in Turkey. This development comes through a strategic partnership with the think tank BTguru. Their collaboration aims to investigate various tokenization opportunities among Turkish financial lenders. Tether revealed this new venture in a blog post on Tuesday. Focus on Asset Tokenization This partnership is centered around exploring real-world asset tokenization within Turkey’s banking sector. Tether and BTguru plan to develop comprehensive programs and leverage BTguru’s network to engage with Turkish financial institutions. The potential for real-world asset tokenization is significant. Experts from McKinsey & Company predict that the…
Author: Rea K.
Nycrypto Labs, a leading blockchain development hub, has secured $800,000 in pre-seed funding. This funding milestone coincides with the launch of their flagship product, Tidus Wallet. Tidus Wallet is set to revolutionize the DeFi space as the first multi-chain, multi-layer, non-custodial wallet that integrates lending, borrowing, swapping, and staking within the app. It also addresses bridging risks, making it a game-changer in the cryptocurrency industry. Tidus Wallet: A Comprehensive DeFi Solution Tidus Wallet stands out by offering a seamless and secure experience for users. It eliminates the complexities and risks associated with bridging, which typically involves transferring assets between different…
Chromia, an innovative Layer-1 blockchain, will launch its Minimum Viable Product (MVP) Mainnet on July 16. This milestone follows the recent success of Chromia’s incentivized testnet, which featured a 250,000 CHR token reward pool. Key Features of the MVP Mainnet With the MVP Mainnet going live, Chromia sets the stage for its network’s foundational development. The mainnet will introduce the native CHR token, and current CHR tokens issued on ERC-20 and BEP-20 standards will be bridged to the new network. Core functions essential to Chromia’s operation, such as payment of network hosting fees and provider payouts, will also be integrated.…
Grant Cardone, the renowned entrepreneur, has taken a significant step into the real estate sector. He has listed his $42 million property in Golden Beach, Florida, on a blockchain-based platform. This marks Cardone’s initial venture into the realm of crypto real-estate innovation. Utilizing Propy for Secure Transactions Cardone chose Propy, a blockchain-based platform known for secure and transparent real estate transactions. Propy offers a decentralized title registry and escrow settlement protocol. This ensures that the entire transaction process is seamless and secure. Propy’s platform is enhanced by its integration with Base Layer 2 technology. This integration boosts efficiency and introduces…
OpenLedger, a blockchain platform specializing in data sovereignty for AI, has successfully raised $8 million in a seed funding round. This financial boost will enable OpenLedger to expand its team and enhance operations as it gears up for the launch of its blockchain network’s testnet, slated for the beginning of the fourth quarter of 2024. Addressing AI Data Bottlenecks As the integration of AI in the blockchain space grows, data sovereignty and digital identity have become critical concerns. OpenLedger’s infrastructure offers a permissionless platform that empowers users to maintain control over their personal data. The funds raised will allow OpenLedger…
Robinhood is looking to expand its offerings by introducing cryptocurrency futures in both the U.S. and Europe. Although no official launch date has been set, the popular commission-free trading app is actively exploring this new venture. Leveraging Bitstamp Acquisition To facilitate this expansion, Robinhood plans to leverage the licenses of Bitstamp, a cryptocurrency exchange it aims to acquire in a $200 million deal set to finalize next year. By utilizing Bitstamp’s licenses, Robinhood can smoothly integrate cryptocurrency futures into its platform, thereby broadening its market presence. In the U.S., Robinhood intends to introduce Bitcoin (BTC) and Ether (ETH) futures based…
VanEck is set to introduce Australia’s first-ever spot Bitcoin ETF. The Australian Securities Exchange (ASX) has approved the listing of the VanEck Bitcoin ETF, scheduled for June 20. VanEck claims that their Bitcoin ETF will be the most cost-effective option available in Australia. VanEck’s Journey to Approval VanEck has pursued a spot BTC ETF in Australia since 2021, being the first to formally apply with the ASX. Success in the U.S. and progressive regulatory measures in Australia encouraged VanEck to refile their BTC ETF application in February. The Australian Securities & Investments Commission (ASIC) recently gave the regulatory nod, the…
Uphold, a cloud-based multi-asset trading platform, has begun notifying its customers about the suspension of support for several stablecoins, including Tether’s USDT and Gemini’s GUSD. This decision comes in response to the new European regulatory framework known as the Markets in Crypto-Assets Act (MiCA). List of Affected Stablecoins In an email notification shared by Antony Welfare, founder of the Commercializing Blockchain Research Centre (CBRC), Uphold announced the end of support for USDT, GUSD, DAI, FRAX, TUSD, and USDP. This change will take effect on July 1, with Uphold citing “new European Union rules on stablecoins” as the driving factor. As…
In a surprising move, the National Australia Bank (NAB), one of Australia’s largest financial institutions, has ceased its efforts to create its own stablecoin, AUDN. This decision comes just a year after the bank announced its plans to develop this Ethereum-based digital currency. Shift in Focus for the Development Team According to the Australian Financial Review, the team responsible for developing AUDN has left NAB. These developers have shifted their focus to a new stablecoin project called Ubiquity. Supported by notable entities like Animoca Brands, Merit Circle, and Concave, the Ubiquity team is forging ahead with this new initiative. They…
Iran’s Central Bank, also known as Bank Markazi, is set to begin a pilot program for its digital currency, the digital rial. This initiative aims to modernize and simplify domestic transactions by enabling cashless transactions for banking customers. Pilot Program Details Starting in July, the Central Bank of Iran (CBI) will allow banking customers and tourists on Kish Island to use digital wallets and QR codes for purchases and fund transfers. This move is expected to boost the resilience and efficiency of the payment infrastructure, particularly enhancing e-commerce and the digital economy. The CBI has been testing its digital currency…