Project Mariana, coordinated by the Innovation Hub of the Bank for International Settlements (BIS), is looking at whether protocols used in intermediary-free decentralized finance (DeFi) can replace traditional, more laborious processes for matching buyers and sellers of different fiat currencies. Source
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DBS Bank, a major financial services group in Asia, is applying decentralized finance (DeFi) for a project backed by Singapore’s central bank. DBS has started a trading test of foreign exchange (FX) and government securities using permissioned, or private, DeFi liquidity pools, the firm announced on Nov. 2. The development is part of Project Guardian, a collaborative cross-industry effort pioneered by the Monetary Authority of Singapore (MAS). Conducted on a public blockchain, the trade included the purchase and sale of tokenized Singapore government securities (SGS), the Singapore dollar (SGD), Japanese…
Singapore has quietly been playing host to some of the most advanced explorations into cryptocurrency and decentralized finance (DeFi) ever done by big banks, institutions and regulators. Source
Gibraltar Financial Services Commission (FSC) wants to bring decentralized finance lending and stablecoins into “sharp focus,” William Gracia, Head of distributed ledger technology (DLT) and markets at the FSC said at the country’s affair on Tuesday. Gibraltar was hosting an event in central London to celebrate the progress of blockchain and DLT within its borders. Source
Following the Terra stablecoin collapse last May, the Terra blockchain ecosystem has another stablecoin concept in the works called “Solid.” The stablecoin Solid and its white paper were revealed by a decentralized finance (defi) project, Capapult Finance, and the idea has been dubbed a “soft-pegged stablecoin” built on Terra. Terra Blockchain Ecosystem to See a New Stablecoin Called Solid Roughly five months ago, the crypto community experienced some dark days when the stablecoin terrausd (UST), now called terraclassicusd (USTC), depegged from its $1 parity. Today, USTC is changing hands for…
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Clave’s debt from the Credix credit pool is collateralized by the receivables from the borrowers who take out loans, Finizola said. Technically, however, the debt is unsecured, meaning the debtor secures the loan with its reputation and its good financial situation and does not pledge any assets whose value would backstop the loan in case of a default. Source
“Three out of the four team members at Porter still feel that the potential for on-chain bond issuances is a massive market,” Bookland said. “The potential for high APY for lenders and non-dilutive funding for DAOs is far too big of an opportunity to ignore. We, therefore, decided to build Arbor Finance with a fork of Porter’s code.” Source
press release Whitelisted Individuals for the Sale Will Be Able to Purchase VERSE Tokens Using BTC, BCH, ETH and USDT/USDC. November 1, 2022 – Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has announced that the public sale of the VERSE utility token is now live. VERSE will reward participants for buying, selling, storing, using, and learning about cryptocurrency, while supporting those who are seeking accessible onboarding into Bitcoin and DeFi. VERSE will fuel the growth and expansion…