Autor Cointelegraph By Judith BannermanQuist

Compound Treasury to let institutions use digital assets as collateral when borrowing USD or USDC

Compound Treasury to let institutions use digital assets as collateral when borrowing USD or USDC

Uverejnil používateľ | sep 14, 2022 |

Compound Treasury, a cash management solution for institutions powered by the Compound Protocol, announced on Sept.14 that accredited institutions can now borrow USD or USDC with fixed rates starting from 6% APR, using Bitcoin, Ethereum, and supported ERC-20 assets as collateral. Starting today, to meet the growing demand for liquidity, institutions can now borrow from Compound Treasury, using digital assets as collateral.https://t.co/xgDIep18Qa— Compound Labs (@compoundfinance) September 14, 2022The Defi-backed company whose notable clients include crypto companies, fintech institutions, and banks, shared that the decision was made in response to recent market volatility, which has created a more robust demand for liquidity. Reid Cuming, VP of Compound Treasury said, “Compound Treasury can now address demand for liquidity with simple, reliable borrowing solution, while continuing to provide the same trusted service we’ve delivered to clients earning interest over the past year.” He added:“Introducing borrowing expands our cash management product to meet more needs of our clients.”In an official statement, the company announced that borrowing for clients will remain flexible, with “an open-ended term” and “no repayment schedule”, so long as participating clients remain overcollateralized. Collateral provided by borrowing institutions is not expected to leave Compound Treasury’s control, thereby increasing transparency and safety of funds.Liquidity for the program will be provided by Compound Treasury’s clients and the Compound Protocol, which currently has over $3 billion in assets and more than $285 billion in total transaction volume since the company began operating. This announcement by Compound Treasury comes after the Defi-backed company received a B- credit rating from S&P Global in May 2022, making the company the first of its kind to receive a credit rating from a major agency.

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Linux to launch Foundation to support digital wallet development

Linux to launch Foundation to support digital wallet development

Uverejnil používateľ | sep 14, 2022 |

The Linux Foundation, a global nonprofit organization that enables innovation within the blockchain ecosystem through access to open source technology, has announced plans to launch the OpenWallet Foundation (OWF). The OWF is a collaborative effort between companies in the technology and public sector, as well as stakeholders within the blockchain ecosystem, to develop open-source software to support the interoperability of digital wallets; software designed to send, receive, store and monitor digital assets.According to a press release issued on Sept. 13, the primary goal of the OWF is to build a multi-purpose open source engine that anyone with the technical understanding can use to build safe, secure, and privacy-protected interoperable wallets. The foundation also said it seeks to establish best practices for digital wallet technology. Rather than creating a digital wallet itself, the foundation will focus on building an open-source software engine that other organizations, companies, and developers can use to create their own multi-use digital wallets. Jim Zemlin, the executive director of the Linux Foundation, shared:“We are convinced that digital wallets will play a critical role for digital societies. Open software is the key to interoperability and security. We are delighted to host the OpenWallet Foundation and excited for its potential.”Accenture’s David Treat, a member of the Foundation, stated:“Universal digital wallet infrastructure will create the ability to carry tokenized identity, money, and objects from place to place in the digital world. Massive business model change is coming, and the winning digital business will be the one that earns trust to directly access the real data in our wallets to create much better digital experiences,”Joining Linux Foundation in this endeavor are other renowned companies like CVS Health, The Open Identity Exchange, Okta, OpenID Foundation, Ping Identity, polypoly, Procivis AG, Transmute, and Trust Over IP Foundation.

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Filecoin service provider announces move to Singapore in light of tightening restrictions in China

Filecoin service provider announces move to Singapore in light of tightening restrictions in China

Uverejnil používateľ | sep 13, 2022 |

RRMine Global, a Filecoin service provider offering global cloud-computing asset management, announced Wednesday that it has shut down business operations in mainland China and is relocating its headquarters to Singapore. The company said the decision to move countries and launch upgrades to their system came after the it rebranded from RRMine to RRMine Global. RRMine Global is ending its operations in Mainland China after the Chinese government tightened cryptocurrency restrictions, signaling the government’s commitment to heavily regulating the Web3 industry. Steve Tsou, the Global CEO of RRMine Global, shared: “Very much like other entrepreneurs, we want the best for our company, employees, and community. The decision has been made after a profound examination and multiple discussions”Singapore seems like an obvious choice for the project, as many Chinese Web3 companies have already made their move to the country. Singapore offers a relatively balanced regulatory approach toward the emerging crypto industry, and has a reputation for being one of the world’s leading open economies. The company also revealed the official launch of a new upgrade service ‘R-Datacap storage’ expected to reduce operational costs and increase yield efficiency. CEO, Steve Tsou shared, “We are taking the lead in Web3.0 technology research and development to create a more efficient system for tackling the issue. Data storage providers will receive ten times the output incentive under the FIP-0012 proposal, which Filecoin approved. We are excited to bring this innovation to RRMine Global and Filecoin users very soon. It will undoubtedly be a game changer for our storage industry.”

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Hyperledger announced new members at commencement of global forum

Hyperledger announced new members at commencement of global forum

Uverejnil používateľ | sep 13, 2022 |

Hyperledger Foundation, a global open source collaboration of enterprise blockchain technologies, has commenced its largest annual event, the Hyperledger Global Forum 2022. Ahead of the event on Monday, the Foundation announced the addition of the eight newest members to its international community; namely, CasperLabs, Realto Group, BCW Group, Banque de France, Central Bank of Nigeria, Digital Identity Laboratory of Canada, International Association For Trusted Blockchain Applications (INATBA) and DSR Corporation. Daniel Barbosa, executive director at Hyperledger Foundation, and general manager of blockchain, healthcare, and identity at the Linux Foundation, shared that: “Hyperledger technologies are playing an outsized role in reshaping existing markets and creating new ones. Our newest members are bringing a diversity of innovation into the Hyperledger community, accelerating the development of open, decentralized technologies that will be the infrastructure for many generations of new services and applications.”Hyperledger Foundation is a nonprofit organization that seeks to bring together vital resources and infrastructure to create a thriving and stable ecosystem around open-source software blockchain projects. Hyperledger allows member organizations to tap into their open source distributed ledger frameworks, tools and resources to create enterprise-grade, industry-specific applications, platforms and hardware systems to support business transaction needs. The Foundation’s enterprise-grade blockchain software projects are designed and built by a developer community for service providers, start-ups, vendors, end-user organizations, academics and commercial solutions. The newest members of Hyperledger’s Foundation, such as Banque de France and the Central Bank of Nigeria, seem to suggest that governments all over the world are slowly opening up to blockchain technology and its innovations. Just recently, Nigeria announced it was in early-stage talks with Binance to create a crypto-friendly economic zone within the country.

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Mean Girls set to make Web3 comeback as “crypto-collectibles”

Mean Girls set to make Web3 comeback as “crypto-collectibles”

Uverejnil používateľ | sep 13, 2022 |

American teen comedy Mean Girls (2004) may soon be making a Web3 comeback, with recent trademark filings by Paramount Pictures revealing plans to expand the brand into “crypto-collectibles.”According to tweets shared by licensed trademark attorney Mike Kondoudis, Paramount Pictures filed two trademark applications on Sept. 7 for the early 2000s teen comedy starring former Disney actress Lindsay Lohan.Paramount Pictures has filed 2 trademarks for MEAN GIRLS!The filings claim plans to expand the #MEANGIRLS brand into:▶️ NFTs + NFT-backed media▶️ Crypto-collectibles▶️ NFT + Crypto-collectible transfer software#NFT #Metaverse #Web3 #NFTs #Crypto #MeanGirlsTour pic.twitter.com/SaBLtZVTOx— Mike Kondoudis (@KondoudisLaw) September 12, 2022The trademark applications cover “downloadable multimedia files containing artwork” which are authenticated by nonfungible tokens (NFTs), as well as “downloadable virtual goods” including crypto-collectibles and NFTs.The application also covers transferring and accessing crypto-collectibles, NFTs, and “application tokens.”Mean Girls is a 2004 teen comedy film that later developed a significant cult following, spawning countless fan-made memes and reaction GIFs. It’s considered one of the most quotable movies of all time and has even led to a national Mean Girls Day every year on Oct 3. ‘Mean Girls’ is leaving Netflix on September 30th, three days before October 3rd. pic.twitter.com/K2AqWnQNEs— Pop Base (@PopBase) September 7, 2022

The application follows only a day after mass media conglomerate Viacom International filed a similar trademark application aimed at expanding The Teenage Mutant Ninja Turtles brand into the virtual world. The number of companies filing trademarks for crypto-collectibles, non-fungible tokens (NFTs), and the Metaverse is continuously growing. Recently, Cointelegraph reported that the number of trademarks filed in the Web3 space was on course to surpass that of 2021, as more companies are expected to join in the rush to secure a piece of the web3 pie. Related: Iconic brands including Nike, Gucci have made $260M off NFT salesRecent trademarks in the NFT and Metaverse space ranges from luxury designer brands, such as Hérmes to Sony Music Entertainment, to race car brand Formula One.Data published by Dune Analytics report that high-profile brands such as Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany & Co. have already amassed a combined $260 million from sales of NFTs, making the adoption of NFTs a highly lucrative and profitable addition to existing brands looking to expand into Web 3.

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