September 15, 2023
Welcome to another edition of Morning Blockchain, your daily dose of blockchain and cryptocurrency insights. In today’s issue, we’ll be exploring cutting-edge technologies that are poised to disrupt the field of blockchain and cryptocurrency. From streamlined liquidity solutions and decentralized staking mechanisms to regulatory challenges and the rise of decentralized exchanges, we’ve got you covered. So grab your favorite beverage and get ready to dive into the future of this exciting industry. Let’s get started!
Ripple opens up Liquidity Hub to Brazil and Australia Ripple Labs is expanding its Liquidity Hub platform to Brazil and Australia, allowing businesses in these regions to access a streamlined solution for buying, selling, and holding digital assets. This is relevant to blockchain and cryptocurrency as it offers a one-stop solution for businesses to tap into crypto liquidity, improving the customer experience for various segments such as NFT marketplaces, crypto ATMs, and brokers. Amboss launches Hydro to quench liquidity demand on Lightning Network Amboss has launched Hydro, a subscription-based liquidity solution for the Bitcoin Layer 2 Lightning Network, allowing businesses to receive payments without the complexities of channel management or centralized intermediaries, and enabling them to access liquidity from decentralized sources with fees as low as 0.003%, addressing the adoption of the Lightning Network. SSV Network launches decentralized staking mainnet with partner apps SSV Network has launched its partner mainnet, introducing a decentralized staking mechanism that aims to offer decentralized staking services to users, providing an alternative to conventional staking services offered by centralized exchanges or liquid staking, and helping existing staking protocols further decentralize by distributing operational and key management tasks across multiple users. Coinbase launches month of zero trading fees on Advanced Trade in UK Coinbase is offering a one-month promotion of zero trading fees on its Advanced Trade product for UK customers, allowing them to experience recent improvements to the platform and trade on USD markets without needing US dollars, which is relevant to blockchain and cryptocurrency as it encourages trading activity and accessibility for UK customers on Coinbase’s platform. Vitalik Buterin says projects should consider how long Hong Kong’s crypto friendliness will last Ethereum co-founder Vitalik Buterin expressed caution for cryptocurrency projects considering Hong Kong as a base, emphasizing the need to evaluate the stability of the government’s crypto-friendliness due to potential regulatory and political changes; this is relevant to blockchain and cryptocurrency as it highlights the importance of considering the long-term viability and support of a jurisdiction for crypto operations. First Mover Americas: BTC Holds $26K; Hedera’s HBAR Jumps A judge in the U.S. Bankruptcy Court has ruled that crypto exchange FTX can sell and invest its crypto holdings to pay back creditors, allowing them to sell, stake, and hedge their holdings worth over $3.4 billion, with all parties involved looking to expedite the process. Top Democrat tells SEC, CFTC to bolster crypto transparency with current authority Senate Banking Committee Chair Sherrod Brown has urged federal agencies, including Treasury Secretary Janet Yellen and SEC Chair Gary Gensler, to use their current authority to regulate and improve transparency in the crypto industry, while also stating that Congress can provide additional tools to address deficiencies and protect consumers; meanwhile, Gensler has emphasized that existing securities laws are sufficient for regulating cryptocurrencies. What are decentralized derivatives? Decentralized derivatives, powered by blockchain technology, are revolutionizing the financial trading landscape by allowing users to trade assets without intermediaries. These derivatives, traded on decentralized exchanges, offer transparency, efficiency, and security through the use of smart contracts. However, it’s important to understand the risks associated with trading derivatives, whether decentralized or not. Deutsche Bank partners with Taurus to offer digital asset custody and tokenization services Deutsche Bank has partnered with Taurus SA to provide digital asset custody and tokenization services, reflecting the growing importance of the digital asset market and the need for traditional financial institutions to adapt to support their clients in the blockchain and cryptocurrency space. Islamic Coin in Pact With CoinDesk Indices to Discuss Sharia-Compliant Benchmarks The partnership between CoinDesk and HAQQ will provide licensing for CoinDesk Indices benchmarks and access to CDI’s API for selected digital assets, contributing to the development of a Shariah-compliant financial system on the blockchain. The Tokenization of Assets Is Underway The article discusses the growing trend of tokenized money markets and treasuries, which have surpassed $650 million in assets under management, and how this is relevant to blockchain and cryptocurrency as it provides a low-risk yield-generating option for investors to park their capital in a digital system, allowing for seamless transitions between different investment profiles such as private equity and private credit. This article is particularly relevant to blockchain and cryptocurrency because it highlights the development of end-to-end digital interfaces, such as Securitize, that enable alternative investments alongside digital assets, bringing this reality to financial advisors, RIAs, and the wealth management industry. OKX wants deals with McLaren, Man City to last a decade OKX, a crypto exchange, aims to establish long-term partnerships with sports organizations like McLaren and Manchester City, in contrast to other crypto companies that have had short-lived associations with sports teams; this article highlights the potential for lasting and meaningful collaborations between the blockchain and cryptocurrency industry and the sports advertising sector. Thai banking giant KBank sets up $100 million web3 and AI fund Kasikorn Bank, Thailand’s second-largest bank, has established a $100 million fund called KXVC to invest in web3 and AI startups, with a potential focus on Asia Pacific, aiming to support the development of blockchain and cryptocurrency technologies in the region despite a challenging crypto venture capital landscape. Superapp Grab, Stablecoin Issuer Circle to Start Web3 Wallets Trial in Singapore The Grab Web3 Wallet is teaming up with a Singaporean ride-hailing app to offer users the ability to use NFT vouchers, earn rewards, and collectibles, making it relevant to blockchain and cryptocurrency enthusiasts who are interested in the intersection of digital assets and everyday consumer services. Lido’s Staked Ether Tokens Can Soon Be Used on Cosmos, IBC Blockchains Liquid staking has emerged as a sought-after option in the decentralized finance (DeFi) space, with platforms like Lido enabling users to generate yields on their locked-up tokens while keeping them liquid, offering potential benefits for blockchain and cryptocurrency enthusiasts. Violet’s Decentralized Exchange Mauve Goes Live for Trading Compliant and Real World Assets The article discusses Mauve, a decentralized exchange (DEX) developed in response to the collapse of centralized exchange FTX, highlighting the relevance of DEXs in blockchain and cryptocurrency by emphasizing their ability to facilitate secure and non-custodial trading of digital assets.