German fintech company 21X, one of the four applicants for a blockchain trading infrastructure permit under the European Union’s DLT Pilot Regime, has received regulatory approval to launch a tokenization platform. The firm was granted a license to operate a blockchain-based trading and settlement system regulated by European laws, according to a Dec. 3 announcement....
The Commodity Futures Trading Commission (CFTC) is taking steps towards the integration of tokenized assets in traditional finance. On Thursday, the CFTC’s Global Markets Advisory Committee approved recommendations to use tokenized money-market fund assets, such as those from BlackRock and Franklin Templeton, as collateral in derivatives trading. This move brings tokenized assets closer to mainstream...
In a groundbreaking move, the Old Stone Church in Fort Collins, Colorado, has turned to cryptocurrency to raise funds for purchasing its historic 19th-century chapel. Led by Pastor Blake Bush, the initiative marks the first instance of a church in the United States being tokenized. The goal is to raise $2.5 million to buy the...
Michael Novogratz’s firm, Galaxy Digital, has tokenized an 18th-century violin as collateral. The 316-year-old violin belongs to Animoca Brands co-founder Yat Siu, who bought it at an auction last year. Tokenizing the instrument is expected to enhance liquidity and accessibility for investors. Galaxy Digital has created a blockchain version of the musical instrument, which is...
Tokenization, the process of transforming real-world assets into blockchain-based tokens, has the potential to unlock a market worth approximately $5 trillion within the next five years, according to a new report by Bernstein. The report, released on Tuesday, highlights that this significant growth could be led by stablecoins, central bank digital currencies (CBDCs), securities, private...
Hong Kong is poised to strengthen its position as a leading global hub for digital assets by launching several cryptocurrency exchange-traded funds (ETFs), including those based on Bitcoin and Ether. This initiative comes as the region seeks to revitalize its reputation as a top financial center. Leading Chinese fund managers are in the final stages...
Hong Kong regulators are reportedly on the brink of approving the first Bitcoin and Ethereum exchange-traded funds (ETFs) in Asia, with an announcement expected by April 15. This pioneering move could position Hong Kong as the inaugural Asian market with operational Bitcoin and Ethereum ETFs. Sources close to Bloomberg suggest that an international branch of...
The landscape of Bitcoin ETFs in the US is witnessing a paradox of flows, with the recent market activities reflecting a mixed sentiment among investors. After a sequence of inflows, the Bitcoin ETF market encountered a significant net outflow, primarily attributed to a massive withdrawal from Grayscale’s GBTC fund, which saw a record outflow of...
In a bold stride towards embracing cryptocurrency, the Hong Kong subsidiaries of leading fund companies, including Southern Fund and Harvest Fund, are spearheading the development of Bitcoin exchange-traded funds (ETFs). A recent report highlights the submission of a spot Bitcoin ETF application to the Hong Kong Securities Regulatory Commission by Harvest Fund, marking a significant...
In a forward-looking move to embrace technological advancements in the financial sector, the Bank of England, alongside the Financial Conduct Authority, has initiated a public consultation for a pioneering ‘digital sandbox.’ This initiative aims to facilitate the testing of digital securities trading in realistic market conditions while maintaining a controlled regulatory framework. Set against the...
