Crypto enthusiasts frequently highlight the benefits of their technology over traditional financial institutions like brick-and-mortar banks, and it’s a story that has a lot of reality. But funds must be ensured to be secure if Web3 is to be widely adopted and for cryptocurrencies to be used in retail or stored as a store of...
Today marks the start of the trial for Sam Bankman-Fried, the founder of FTX, a former cryptocurrency exchange, in a courtroom located in New York City. Bankman-Fried and former executives of FTX are on trial for allegedly orchestrating one of the biggest financial frauds in US history. FTX collapsed last November, claiming $8 billion in...
Today Singapore’s ADDX announced plans to expand into the Middle East and North Africa (MENA). The regulated tokenization platform and private exchange has raised US$140 million in venture capital, primarily from numerous major Asian financial institutions. These include the Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET). Its expansion into MENA aims to...
Infrastructure and data platform services of Russia’s Yandex Cloud helped miner Nornickel accelerate the development of products for mining and geological modelling, the companies announced. Nornickel previously used in-house servers for these purposes, and the switch to Yandex Cloud helped accelerate some processes by 18%, the company said. “In the global market, the digital development...
The real estate industry is undergoing a significant transformation thanks to the emergence of blockchain technology and the concept of tokenization. Real estate tokenization, a breakthrough facilitated by industry leader SoluLab, is revolutionizing property investment by providing a new way for individuals to access and invest in the traditionally illiquid real estate market. This groundbreaking...
Backed Finance has integrated Chainlink’s price feeds, onboarding a suite of tokenized assets to six different blockchains. After Backed Finance added Chainlink’s price feeds, the tokenization project is now launching its various tokenized products to a variety of networks. Backed is a DeFi project working in the tokenization and real-world asset sector. This means it’s...
The company is launching what it calls a Multi-Token Network (MTN), which will begin by testing tokenized bank deposits and move onto experiments using stablecoins and CBDCs. Mastercard is setting up a testbed, dubbed the Multi-Token Network (MTN), which will begin by exploring tokenized bank deposits, and which will be available in beta mode this...
Tayaba commits to improving access to clean water and sanitation for marginalized communities in the country Tayaba, a non-profit organization in Lahore, Pakistan, has launched the first-ever tokenization of philanthropy in Pakistan. The project aims to address the dire situation in the Ghotki District of Sindh, where poverty and lack of clean water accessibility are...
Germany continues its crypto-friendly stance by introducing a new law allowing companies to issue crypto shares. The German Ministry of Finance said it was working on the Future Financing Act, a law “intended to support private asset accumulation and mobilize more private capital for future investments .” Other key improvements include the reduction of minimum...
Binance’s Australian derivatives license was canceled at the crypto exchange’s own request, the Australian Securities & Investments Commission said Thursday, after the regulator had begun a “targeted review of Binance” in February. Beginning April 14, Binance’s derivatives clients in Australia will not be able to open or increase their existing trading positions. By April 21,...
