Month: June 2023

Diversified portfolio should include bitcoin, ether

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Investors and advisors can’t ignore crypto anymore, according to Ric Edelman, founder of Edelman Financial Engines. “It’s the first new invention of an asset class in 170 years — the last new asset class was the discovery of oil in the 1850s,” he told CNBC Pro at the Digital Assets Council of Financial Professionals’ Vision conference in Austin, Texas. “We need to recognize that in order to have a truly diversified portfolio, we need to have exposure to every asset class,” he added. “That means advisors need to rethink their…

Czech automobile conglomerate Škoda Auto launches NFT platform

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On June 20, Škoda India, the Indian subsidiary of Czech automobile conglomerate Škoda Auto, launched a Web3 and nonfungible token (NFT) experience in partnership with Near Protocol. Dubbed “Škodaverse India,” developers say the platform will possess low gas fees, interoperable NFTs for multiplatform usage, and eco-friendly, scalable NFTs. The firm wrote:  “Škodaverse India will also unlock bespoke utilities and experiences for NFT holders which will be revealed along with the first drop details. All NFTs will be minted on carbon-neutral blockchains, aligning with our sustainable vision.” The debut Škoda NFT…

$1,400,000,000,000 Deutsche Bank Applies for Cryptocurrency Custody License in Germany: Report

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A multinational investment bank and financial services company valued at $1.4 trillion is applying for a crypto custody license in Germany. According to a new Bloomberg report, Deutsche Bank AG, Germany’s largest and the European Union’s second-largest bank, is seeking regulatory approval to offer a custody service for digital assets, including cryptocurrencies, in Germany. Says David Lynne, runner of Deutsche Bank AG’s commercial unit, “We’re building out our digital assets and custody business. We just put our application into the BaFin for the digital asset license.” BaFin, the Bundesanstalt für…

Tether and Bitfinex pledge $100K grant for private operating system

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On June 20, Tether Operations Limited, the firm behind United States dollar stablecoin Tether (USDT), along with cryptocurrency exchange Bitfinex announced the allocation of a 100,000 USDT grant to support open-source privacy operating system Qubes OS. Paolo Ardoino, chief technology officer of Tether and Bitfinex, commented:  “We recognize the paramount importance of privacy and security in the digital age. We are pleased to support the development of Qubes OS, which is a cutting-edge operating system renowned for its iron clad security.” As told by developers, Qubes OS has garnered significant recognition…

Polygon Proposes POS Chain To Become ZK Compatible

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BIS releases unified-ledger proposal for cross-border, tokenized asset transactions

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The Bank for International Settlements (BIS) has released a chapter of its annual report early. That chapter, on the future of the monetary system, discusses “a new type of financial market infrastructure — a unified ledger.” The chapter was published June 20, one day after the International Monetary Fund (IMF) released a paper describing its “single ledger” cross-border payments concept. The BIS proposal harnesses central bank digital currency and tokenized assets into “a new type of financial market infrastructure” — that is, the unified ledger, which would be powered by…

University of Nicosia Introduces Metaverse Masters Program

The program, which runs over the course of a year from September to August and is broken into three semesters, focuses on two areas, metaverse design and metaverse management. Courses in the program will cover topics such as augmented reality (AR) and virtual reality (VR), non-fungible tokens (NFTs), blockchain data skills, marketing and project management. Source