Autor Cointelegraph By Ezra Reguerra

Japan's Bitbank to set up a custody firm to facilitate institutional entry to local markets

Japan's Bitbank to set up a custody firm to facilitate institutional entry to local markets

Uverejnil používateľ | máj 24, 2022 |

In a new development for East Asia, Japanese crypto exchange Bitbank announced a partnership with financial holding company Sumitomo Mitsui Trust Holdings with the goal of establishing Japan Digital Asset Trust (JADAT). According to an announcement sent to Cointelegraph on Tuesday, JADAT will be created to offer custodial services along with auditing and wallet insurance. The company is designed to facilitate the entrance of institutional players into the Japanese digital asset market.Once established, the firm will specialize in custody services for digital asset holdings including cryptocurrency, security tokens on public blockchains, stablecoins and nonfungible-tokens (NFTs). Bitbank is one of the largest crypto exchanges in Asia, with a monthly trading volume of over $5 billion. On the other hand, Sumitomo Mitsui Trust Holdings is a publicly-trading holding and specialized trust bank group. According to the announcement, the firms will use their expertise to contribute to the development of JADAT.At the moment, the crypto exchange and the financial holdings firm signed a memorandum of understanding (MOU), where both parties agreed to explore the possibilities of Sumitomo Mitsui Trust Holdings investing in JADAT. Last week, one of Japan’s largest investment banks called Nomura revealed plans to create a crypto subsidiary outside the country. This follows a recent move from the firm to offer Bitcoin (BTC) derivatives to its clients in Asia. The new subsidiary will be focusing on helping institutions invest their funds in crypto and NFTs. Related: Square Enix to sell Tomb Raider franchise and invest in new initiatives such as blockchainEarlier in May, e-commerce platform SBI Motor Japan announced that it’s accepting BTC and XRP (XRP) as methods of payment. According to SBI Holdings, the e-commerce platform exports 5,000 used cars to Africa annually. This means that the African market can purchase cars using crypto from the company.

Čítaj viac
WEF 2022: Ripple SVP says crypto winter provides an opportunity to build

WEF 2022: Ripple SVP says crypto winter provides an opportunity to build

Uverejnil používateľ | máj 23, 2022 |

Cointelegraph’s editor-in-chief Kristina Cornèr interviewed Brooks Entwistle, Ripple’s senior vice president (SVP) for global customer success at the World Economic Forum (WEF) at Davos, Switzerland, discussing his time in Ripple and the current “crypto winter” and what market participants should focus on. According to the Ripple SVP, his experience in Ripple has given him the opportunity to explore. In the past year, Entwistle shared that their team has been learning more about the industry to “understand what business models are working” and what can be improved.Entwistle also shared that the current WEF event in Davos has given him a chance to experience the country while the weather is nice. He said that this makes it easier to interact with people and make new connections in the industry. “You just hustle for the minute you get here, you hustle non-stop and meet partners, customers and get ideas to do it,” said Entwistle.Apart from the weather, the Ripple executive also shared his thoughts on the state of the market. He said that: “This has happened before. It’s going to happen again. And I think for us, we’re building into it. And I think it’s an opportunity.”The Ripple executive also said that their company is taking this opportunity to build “around the world.” Moreover, Entwistle gave some advice to the blockchain community, telling people not to focus too much on the current markets and instead, put their focus elsewhere. “In some ways a lot of this is noise and we’ve got to reduce the noise and focus on the signal,” said the Ripple SVP. Related: WEF 2022, May 23: Latest updates from the Cointelegraph Davos teamLast week, crypto veterans also gave their advice to those who are experiencing the bear market for the first time. The advice varied and ranged from buying Bitcoin (BTC), managing expectations, lowering expenses and doing nothing.

Čítaj viac
Venture funding for African crypto startups grew 11x in 2022: Report

Venture funding for African crypto startups grew 11x in 2022: Report

Uverejnil používateľ | máj 23, 2022 |

As the African region continues to adopt crypto and blockchain, more venture funding flowed into the continent in 2022’s first quarter compared to the first quarter of 2021, according to a new report by blockchain-investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank. The report, titled “The African Blockchain Report 2021,” shows that blockchain startups were able to raise $91 million within 2022’s first quarter. Compared to the first quarter of 2021, this year showed a 1,668% year-on-year (YoY) increase in cash inflow compared to 2021’s YoY of 149% which is an increase of more than 11 times according to CV VC. In addition, the report also highlighted that while Africa has not yet seen a “blockchain mega-deal,” it predicts that within 2-3 years, unicorns may emerge from the region’s crypto and blockchain scene as more venture capitals show interest in the region. African countries that raised the most capital in 2021. Source: African Blockchain ReportCV VC Managing Director for Africa, Gideon Greaves, told Cointelegraph that blockchain funding in Africa surpassed the other forms of startup funding. Working in a venture capital that focuses on investing on blockchain projects, the executive noted that that the region has an opportunity to enter markets faster through blockchain. Greaves said that: “We see this development as a key enabler for African enterprises, giving them rapid entry to markets by using blockchain as the catalyst to build new businesses.”Additionally, Greaves said that the lack of legacy infrastructure within the region gives blockchain startups an advantage because of the opportunity to fill in the void with fast and innovative technologies. According to the CV VC executive, Africa is equipped with the right tools, the motivation, and the population to create large companies to serve millions of people. Greaves expects the continent of Africa to become the leading region for “capitalizing on business using blockchain” within the next five years. Related: From smart insurance to on-chain document verification: Here’s how NEAR aims to improve KenyaMeanwhile, venture capital firms recently invested $23 million to launch a crypto exchange platform called MARA. The exchange will initially commence its operations within Kenya and Nigeria to provide a simple way to trade crypto. Last month, a report also showed that the lack of financial services infrastructure in Nigeria boosted crypto ownership in the country. The study also highlighted that citizens of the country began to use crypto as their alternative for storing and transferring assets.

Čítaj viac
Terra’s amended revival plan would decrease the allocation for post-attack UST holders

Terra’s amended revival plan would decrease the allocation for post-attack UST holders

Uverejnil používateľ | máj 20, 2022 |

After a grueling two weeks for the Terra community, the team behind the project announced revisions to their proposed revival plan for Terra (LUNA) and TerraUSD (UST). In a Tweet, Terra shared three major revisions to the proposed Terra revival and redistribution plan. These include increasing the genesis liquidity, introducing a new liquidity profile for pre-attack LUNA holders and decreasing the distribution to post-attack UST holders. 1/ We have published an amendment to Proposal 1623, incorporating the community’s feedback since its publication 2 days ago. Please see below for details https://t.co/liISBn3Baa— Terra Powered by LUNA (@terra_money) May 20, 2022The announcement noted that pre-attack Anchor UST (aUST) holders, post-attack LUNA holders and post-attack UST holders’ initial liquidity parameters are modified. The change will be from 15% to 30%, and according to Terra, this may “mitigate future inflationary pressures” and increase the token’s supply during the launch. Apart from this, wallets that hold less than 10,000 LUNA will get the same liquidity as the aforementioned groups. Moreover, 70% of their LUNA will be vested in over two years, with a cliff of six months. Terra said it believes that this new liquidity profile will ensure that small token holders will have similar initial liquidity.Lastly, the allocation for post-attack UST holders decreased from 20% to 15%. According to Terra, this “dpeg related allocation is on par with the original stakeholder (pre-attack $LUNA) allocation.” The 5% will be moved to the community pool. Related: Terra fallout: Stablegains lawsuit, Hashed loses billions, Finder wrong and moreThe aftermath of the UST collapse gave the community reasons to doubt the future of algorithmic stablecoins. According to university assistant professor Ryan Clements, purely algorithmic stablecoins are “inherently fragile” and rely on many assumptions, that are neither certain nor guaranteed, to be stable. Meanwhile, as some use the UST collapse to take a dig at the entire industry, some have tried to defend crypto. In an interview with Cointelegraph, Huobi Global co-founder Jun Du said that “one bad apple in the short run will not affect [the] long-term demand for crypto.”

Čítaj viac
European families see crypto as a tool to increase savings: Survey

European families see crypto as a tool to increase savings: Survey

Uverejnil používateľ | máj 20, 2022 |

While there are risks associated with crypto investing, some see it as a way to boost their family savings, a recent study commissioned by crypto trading platform BitMEX shows. The survey, conducted by research firm Kantar, tried to discover crypto-related trends among consumers in 2022. Going through 3,000 respondents within 14 markets in Europe, Asia and Latin America, the study found that Europeans look at crypto as a method for investments and saving up for their families. Fifty-five percent of the European participants declared that they currently hold cryptocurrency. Moreover, 70% of these respondents noted that crypto’s main function is to be used for their family’s needs. Additionally, the survey also found that 61% of the respondents see crypto as “a good way to diversify investments.”Apart from these findings, the study mentioned that three out of five European respondents declared a 50% growth in their crypto investments. While the number isn’t as significant as winning the lottery, the survey notes that more than 80% of the transactions of the surveyed crypto owners are $1,000 and above. BitMEX chief marketing officer (CMO) Michele Bertacco said that the survey’s goal was to understand investors’ behavior better. After seeing the results, Bertacco explained that “The mainstream appetite for crypto is growing at a very fast speed.” Related: One-fifth of businesses in El Salvador now accept Bitcoin: NBER studyEarlier this week, a different survey showed that people who have not invested in crypto are worried about volatility, environmental impact and regulation. Apart from these, the study also noted “lack of understanding” as the most prominent wall that stops investors from getting into crypto. Meanwhile, a more recent survey showed that 80% of participants are willing to work out more if they got cryptocurrency as an incentive. Additionally, respondents also said that they are likely to cancel their gym membership in exchange for one based in the Metaverse.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy