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BIG Weekly Newsletter
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A Message To The Reader
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Welcome to the BIG weekly Newsletter!
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This week read about how AI-focused blockchain CryptoGPT raises $10M funding at $250M valuation why Europe and Asia, not the US will lead in blockchain, and how Hong Kong’s largest virtual bank to offer crypto conversions.
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Don't forget to check the latest report on crypto with 7 key takeaways: 2023 State of Crypto Report: Introducing the State of Crypto Index .
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We offer a free consultation with access to the blockchain insights. Book your free consultation with us here.
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BIG SERVICES
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Do you need to assess, evaluate & plan your business model?
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We can develop your business strategy by providing an assessment report, a detailed concept/whitepaper, digital asset and tokenization, establishing project and corporate governance (board, c-level) and localisation services to setup in Switzerland, govern your firm, fundraising support.
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We can design your product, service and target operating model (TOM), defining functional and service level requirements, requesting for proposal, evaluate & select service provider, implementing integration, project management, testing and go-live activities.
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We can provide you with legal coordination with Lawyers, SRO, Finma, Non-Action letter, support with taxation, compliance, due diligence, risk assessment, support & tools, audit, policy framework and proof of cryptocurrency ownership, compliance workshops.
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We can support your operations by establishing a team and leading day to day production activities, engaging specialists to minimize cyber security risks or attacks, providing technical solutions and architecture design, set up and manage IT infrastructure and analyzing the codebase of blockchain platforms and applications to identify vulnerabilities and potential improvements.
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AI-focused blockchain CryptoGPT raises $10M funding at $250M valuation
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There has been a boom in interest around AI-focused cryptocurrencies, thanks to the mainstream success of chatbot ChatGPT. However, there is some skepticism around the longer-term viability of such tokens.
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Europe and Asia — not the US — will lead in blockchain
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The US Government is putting the squeeze on crypto. Recently they shut down two banks that were friendly to crypto and acting as bridges between trading exchanges and the real world.
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Hong Kong’s largest virtual bank to offer crypto conversions
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It was reported that ZA Bank was entering the crypto market. The largest virtual bank in Hong Kong will be offering transfers and conversions from crypto and fiat currencies.
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REGULATED DIGITAL ASSETS (STO, TRADING, CUSTODY, COMPLIANCE)
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INX first to convert traditional stock shares to fully-regulated tokenized shares
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Through this landmark collaboration, traditional stock certificates of Greenbriar Capital will now be able to be represented in a digital format and move seamlessly back and forth between traditional exchanges, like OTC and TSXV, and a digital ATS like INX.
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El Salvador grants first digital asset license to Bitfinex
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The new license was issued subsequent by the Legislative Assembly of El Salvador that regulates digital securities and created a framework for the Central American country to launch bitcoin-backed bonds.
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Cofund partners with Tokeny to tokenize real world assets In Bali
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The collaboration enables CoFund to leverage Tokeny’s innovative platform to bring institutional-grade real estate assets to the masses, issuing ERC3643 security tokens on the Polygon network.
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FINANCIAL SERVICES & CENTRAL BANK DIGITAL CURRENCY (CBDC)
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ANZ completes CBDC pilot for tokenized carbon credits
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The use case involved using the ANZ A$DC stablecoin to settle tokenized carbon credit transactions. The bank is participating in four of the 15 use cases in the Australian CBDC pilot, which is being run by the Digital Finance CRC (DFCRC).
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Montenegro's Central Bank to test CBDC with Ripple
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Montenegro has adopted the euro without joining the eurozone. The European Central Bank and EU are set to decide whether to introduce a digital euro later this year.
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BIS research suggests optimal level of CBDC is 40% of GDP
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This is a massive figure compared to what most central banks are currently debating, but the paper claims that this could bring significant macroeconomic and financial stability gains in the long run.
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CRYPTOCURRENCIES, DeFi and NFT
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Bitcoin shrimps accumulated 35k BTC in the last 30 days
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Shrimps refer to wallets with less than 1 BTC, and their current accumulation rate is the fourth fastest in the market’s history. Their cumulative holding has surpassed 1.3M BTC, equating to over 6% of the asset’s total supply.
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IOSCO confirms timing of regulatory work on crypto, DeFi
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Turning to DeFi, the US Securities and Exchange Commission (SEC) is spearheading that group, which also targets market integrity. Additionally, it is also exploring investor protection and financial stability risks.
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Utility the driving factor in NFT ownership amid new market launches
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NFTs are common in the gaming industry, and many brands and merchants are implementing them in their rewards programs. Adidas recently announced the final stage of its Into The Metaverse project. The launch of ‘ALTS’ NFT is similar to Puma and Nike.
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RECOMMENDED INDUSTRY REPORTS AND BOOKS
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2023 State of Crypto Report:
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Introducing the State of Crypto Index
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Swiss Digital Asset Market Report 2022
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The report helps better understand the thriving digital asset space by assembling the most important facts and figures.
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A New Intellectual Framework - Connecting the Invisible Dots
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This paper aims to set out some relevant ideas for the creation and establishment of a successful Financial DIGITAL MARKET INFRASTRUCTURE provider.
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PODCAST SERIES
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THE SWISS ROAD TO CRYPTO PODCAST
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In this podcast Didier Borel discovers people in Switzerland playing an active role in crypto and tech. He talks to entrepreneurs, tech innovators and disruptors shaping the future in this country. Switzerland has always played a key role in banking and has recognized the need to foster innovation.
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Laura Shin is a crypto/blockchain journalist and host of the Unchained and Unconfirmed podcasts. As a former senior editor of Forbes, she was the first mainstream reporter to cover crypto assets full-time. She gives an overview to all experts and novices alike on the use cases making a real impact, and their vision for the future of this innovative technology!
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Got a question?
Or perhaps a suggestion? We'd love your feedback.
Contact Rali Hill
- content provider of this Newsletter.
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