Banks Launch Stablecoin Consortium, Crypto Regulatory Discussion in Hong Kong + More News

Banks Launch Stablecoin Consortium, Crypto Regulatory Discussion in Hong Kong + More News
Traditional Chinese junkboat crusing throughout Victoria harbour, Hong Kong. Source: iStock/Onfokus 

Get your day by day, bite-sized digest of cryptoasset and blockchain-related information – investigating the tales flying underneath the radar of right now’s crypto information.


Stablecoin information

  • The USDF Consortium, an affiliation of the Federal Deposit Insurance Corporation (FDIC)-insured monetary establishments, launched right now with a mission to construct a community of banks to additional the adoption and interoperability of a bank-minted stablecoin, USDF. The founding members embrace New York Community Bank (NYCB), NBH Bank, FirstBank, Sterling National Bank, Synovus Bank, Figure Technologies, Inc., and JAM FINTOP, they mentioned.

Regulation information

  • The Hong Kong Monetary Authority (HKMA) issued a dialogue paper on cryptoassets and stablecoins, which has taken into consideration, amongst different issues, the worldwide suggestions, the market, and regulatory panorama regionally and in different main jurisdictions, and the traits of payment-related stablecoins. Members of the general public and the business are welcome to submit their responses by e mail by March 31, 2022.

Exchanges information

  • Brazil’s 2TM Group, the proprietor of crypto trade, introduced the acquisition of a controlling stake in CriptoLoja, the primary licensed Lisbon-based crypto trade. The Brazilian holding firm will begin its growth into Europe with an over-the-counter (OTC) operation, and as a second part, it intends to take all the platform to retail and institutional buyers.
  • On Wednesday, Coinbase introduced that they’ve resolved a problem the place prospects with non-USD accounts had been unable to view their asset steadiness worth. The announcement got here round six hours after that they had tweeted that they had been conscious of the difficulty and dealing on a repair.
  • Coinbase additionally mentioned they are going to be giving their workers one week off every quarter in 2022 to recharge after “long days and long weeks” of intense work. They added that “nearly the entire company will shut down” for 4 separate weeks this 12 months as a part of an experiment in permitting staff to recuperate after finishing intense workloads.
  • Brokerage agency eToro launched MetaverseLife, a brand new good portfolio overlaying shares and cryptoassets from throughout the rising metaverse business. Currently included within the portfolio are Meta Platforms, Roblox, and different blockchain-based metaverse initiatives like Decentraland, The Sandbox, and Enjin (ENJ).
  • The Nova Scotia Securities Commission is warned that CoinRise, a crypto buying and selling platform, shouldn’t be registered “to engage in the business of trading in securities or derivatives in Nova Scotia.” CoinRise claims on its web site to be Canada’s fastest-growing crypto buying and selling platform.
  • Blockchain challenge Chia Network introduced the launch of Offers, its first native, peer-to-peer trade capabilities for anybody with a Chia pockets. To additional assist Offers, Chia partnered with Stably to launch USDS, the primary dollar-denominated stablecoin on Chia Network.

Investments information

  • Banking platform SEBA Bank mentioned it has raised CHF 110m (USD 119.98m) in a Series C funding spherical, co-led by Altive, Ordway Selections, Summer Capital, and DeFi Technologies, with participation from Alameda Research. SEBA beforehand raised a complete of USD 126.5m, per Crunchbase knowledge.
  • Web3 infrastructure answer Web3Auth introduced a USD 13m Series A spherical led by Sequoia Capital India. The firm plans to speed up growth into decentralized gaming, non-fungible tokens (NFTs), and social purposes, in addition to to advance its imaginative and prescient of constructing blockchains universally accessible.

Adoption information

  • The Republic of Palau and blockchain improvement agency Cryptic Labs introduced the launch of the Root Name System (RNS), a digital residency program. To inaugurate the partnership between Palau, Cryptic Labs and the sovereign-backed digital residency program, Palau’s President Surangel S. Whipps Jr. signed an settlement to grant “all global users” digital residency by the RNS underneath the nation’s Digital Residency Act.
  • Bitcoin (BTC) pockets Strike introduced its launch in Argentina. Strike is already out there in most US states and El Salvador.

Career information 

  • Malcolm Wright, former chief compliance officer at crypto trade BitMEX, joined Shyft Network, a startup targeted on serving to crypto corporations adjust to international anti-money laundering (AML) guidelines.
  • According to former workers of Microsoft quoted by The Wall Street Journal, round 100 individuals have ditched the tech big’s augmented actuality workforce over the previous 12 months to affix Meta Platforms. They declare that Meta (previously Facebook) has been significantly targeted on snapping up individuals who have labored on Microsoft’s HoloLens augmented actuality (AR) headsets.

NFTs information

  • Major clothes retailer Gap mentioned it’s going to launch its first assortment of NFTs, powered by Tezos (XTZ), on January 13. “For this launch, the brand is introducing a gamified digital experience celebrating creatives and giving customers the unique opportunity to own a limited edition, collectible Gap hoodie,” the corporate added.

Legal information

  • South African police are investigating quite a lot of felony circumstances introduced by out-of-pocket buyers who need two brothers, Raees and Ameer Cajee, arrested over an allegedly fraudulent crypto platform referred to as Africrypt, which had price buyers USD 3.6bn in bitcoin, in accordance to Bloomberg.

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