Day: June 22, 2023

Ripple gets in-principle nod for digital asset services in Singapore

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Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state. Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary — Ripple Markets Asia Pacific — to further scale its On-Demand Liquidity (ODL). The ODL helps Ripple’s customers to move XRP around the world without the banks intervening as intermediaries. We’re honored to obtain In-Principle Approval of a Major Payments Institution License from the…

Singapore takes the lead in establishing norms for ‘designated’ digital currency

Singapore’s central bank, the Monetary Authority of Singapore, has unveiled a proposed common protocol aimed at establishing clear conditions for the utilization of digital currencies. As financial institutions in the city-state embark on trials involving purpose-bound money, the regulator published a whitepaper, outlining technical specifications regarding the life cycle of such currency and emphasizing the importance of programming arrangements to ensure fund transfer occurs exclusively upon service fulfillment or adherence to specified terms of use. For use in online commerce and programmable rewards The Monetary Authority of Singapore (MAS) has unveiled…

Banking is ‘slowly dying’ — Former TradFi execs on reasons for joining crypto

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Despite plenty of regulatory action in the United States and an ongoing crypto winter, former TradFi executives, now in crypto, said there’s no desire to return to their old banking lives Instead, former traditional bankers who’ve pivoted to crypto, remain bullish about the industry’s future, and love the fact they can actualize real innovation. Lisa Wade, CEO of DigitalX is one such executive, pivoting to crypto in December 2021. She was once the head of innovation and sustainability at National Australia Bank (NAB), one of Australia’s Big Four banks. DigitalX…

Ticketmaster secures USPTO web3 trademark for online marketplace

Ticketmaster has received a web3 trademark from the USPTO, granting the company exclusive rights to operate online marketplaces for crypto-collectibles and non-fungible assets. Under the patent, Ticketmaster has also received authorization to provide transactions and registry services utilizing blockchain technology specifically for digital collectibles. Application acceptance Ticketmaster’s application for IC 035 has been accepted, enabling the company to establish an online marketplace catering to buyers and sellers of crypto-collectibles and blockchain-based non-fungible assets. The approval allows Ticketmaster to engage in various activities, including operating online marketplaces, providing digital collectible services,…

Starknet moves closer to EVM compatibility with upcoming ‘Kakarot’ testnet

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Starknet, a zero knowledge layer-2 scaling solution for Ethereum is one step closer to becoming fully Ethereum Virtual Machine (EVM) compatible pending an August testnet launch of Kakarot, a new zkEVM. On June 3, the Kakarot team announced it had received new backing from Ethereum cofounder Vitalik Buterin, Ledger co-founder Nicholas Bacca and Starkware. We have powered up and entered Super Saiyan mode⚡. Kakarot Labs has officially been incorporated and closed a pre-seed round with top-tier investors. Let’s unpack our vision, current standing, and the exciting future ahead. pic.twitter.com/VI8QRdPLfw —…

‘The Great Accumulation’ of Bitcoin has begun, says Gemini’s Winklevoss

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Recently renewed optimism for an approved Bitcoin (BTC) spot exchange-traded fund (ETF) is igniting “The Great Accumulation Race” for Bitcoin, according to industry pundits. Over the past week, Fidelity, Invesco, Wisdom Tree and Valkyrie have followed investment giant BlackRock in applying for a Bitcoin spot ETF with the United States Securities Exchange Commission, which some analysts believe is the reason for Bitcoin’s 19% price surge to $30,240 since June 16. 5 Bitcoin ETF applications in 5 days! – Blackrock – Fidelity– Invesco – Wisdom Tree– Valkyrie — Lark Davis (@TheCryptoLark)…

Bitcoin BTC Price Holds Firm Above $30.1K as Investors Savor BlackRock, Other Spot BTC ETF Filings

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Bitcoin (BTC), the world’s largest cryptocurrency by market value, rallied over the past 24 hours after various traditional finance firms announced moves into the crypto market, indicating bullish sentiment. eToro US investment analyst Callie Cox shared her crypto markets analysis. Plus, Lindsey Grossman, the business lead at Bitkey, Block’s bitcoin wallet, joined “First Mover” to discuss teaming up with Coinbase and Cash App, along with the launch of Bitkey’s external beta sign-ups. And, Axelar CEO and co-founder Sergey Gorbunov shared his reaction to the Uniswap Foundation’s recent bridge assessment report.…

Ripple Crypto Obtains In-Principle Approval for Major Payments Institution License in Singapore

“We’re pleased that Singapore has taken a forward-looking approach to how to regulate digital assets,” Stu Alderoty, Chief Legal Officer of Ripple, said in an interview with CoinDesk. “With their licensing framework, they have figured out how to create a clear taxonomy for digital assets, balancing the need to protect consumers’ interests and the need to protect the integrity of the markets, while doing so in a way that promotes innovation and investment.” Source

Bakkt research shows investors remain interested in crypto despite regulatory uncertainties

Bakkt Holdings’ research report reveals sustained interest in cryptocurrencies among market participants, emphasizing the need for regulatory clarity in driving adoption. Fintech firms a gateway for crypto adopters In its latest crypto ecosystem study, Bakkt Holdings Inc (NYSE: BKKT) delved into the sentiments, adoption rate, and concerns of over 2,000 U.S. residents who own or are interested in cryptocurrencies.  The study sheds light on their attitude toward crypto regulation, consumer protection, and the factors influencing their interest in digital assets. Despite the recent negative volatility in the global digital assets…

Atomic Wallet gives major update on hack but questions remain unanswered

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Atomic Wallet users have been left wanting more answers, despite the decentralized wallet provider finally releasing a full “event statement” about the June exploit — which some estimate has run up to $100 million in losses. In a June 20, blog post — the first major update from the firm since the June 3 exploit — Atomic Wallet claimed there have been no new confirmed cases after initial reports of the hack. It has reiterated that “less than 0.1%” of app users were affected. Atomic Wallet has made the claim at…