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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 SEC lawsuits against Binance and Coinbase unify the crypto industry, why Swift explores blockchain interoperability to remove friction from tokenised asset settlement and how blockchain bill of lading firm WaveBL raises $26m.
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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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Following BIG's successful business development over the last five years with a focus on financial services, implementing various projects related to blockchain and digital assets, we are expanding into new industries and are looking for an experienced industry leader with hands-on experience in business development, project management and technology.
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SEC lawsuits against Binance and Coinbase unify the crypto industry
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SEC filed a lawsuit against Binance for allegedly offering unregistered securities. Only a day after filing the Binance suit, the commission also went after Coinbase on similar grounds.
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Swift explores blockchain interoperability to remove friction from tokenised asset settlement
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In capital markets view, blockchain technology has the potential to generate efficiencies, reduce costs and open opportunities.
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Blockchain bill of lading firm WaveBL raises $26m
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Bills of lading are the record of cargo loaded onto a vessel. It was joined by new investor Reefnot Investments, which is backed by Temasek and logistics giant Kuehne + Nagel.
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REGULATED DIGITAL ASSETS (STO, TRADING, CUSTODY, COMPLIANCE)
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S.Korea's Mirae Asset, Hana Financial Group form security token tie-up
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Mirae Asset Securities signed an agreement with HFG on the security token consortium NFI. The NFI comprises companies seeking financial innovation and expansion of Web3 operations starting with security tokens.
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AML rules for digital assets to come into effect in UAE
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Under new rules from the Central Bank of the United Arab Emirates (CBUAE), licensed financial institutions (LFIs) would be required to verify the identities of all customers. The new rules take into account Financial Action Task Force global standards.
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Shinhan’s STO tech provider Lambda256 partners VNX for security tokens
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Blockchain firm Lambda256 partnered with VNX, a Liechtenstein-regulated crypto firm that has tokenized currencies and commodities such as gold. Together they plan to serve a global investor base with security tokens.
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FINANCIAL SERVICES & CENTRAL BANK DIGITAL CURRENCY (CBDC)
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Goldman, JP Morgan, Deutsche in Tel Aviv blockchain government bond trial
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It included Israeli banks: Bank Discount, Bank HaPoalim, Bank Leumi, Bank Mizrahi and First International Bank, and globally important banks: Barclays, BNP Paribas, Deutsche Bank, Goldman Sachs, JP Morgan and Merrill Lynch.
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Ripple CBDC development efforts spotlighted by American Banker
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Ripple is focused on developing CBDCs for different financial institutions worldwide, having successfully eliminated the barriers associated with cross-border payments using its blockchain technology.
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Digital pound CBDC consultation deadline extended
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At the same time, some countries are concerned that foreign CBDCs might threaten their monetary sovereignty if their citizens choose to hold another country’s CBDC.
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CRYPTOCURRENCIES, DeFi and NFT
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Atomic Wallet hacker swappingsStolen funds for bitcoin
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Elliptic Connect has traced the funds from the recent $35 million Atomic Wallet hack to a coin mixing service. Coin mixers enable anonymity in cryptocurrency transactions by randomly mixing crypto transfers.
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Cardano (ADA) DeFi activities drive TVL to yearly high
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Increasing decentralized finance (DeFi) activity on Cardano has pushed the total value of assets locked on the network to the highest point this year. ADA token, Cardano’s DeFi ecosystem also reached an all-time high of 463 million ADA at the end of May.
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Louis Vuitton to sell $41,000 NFTs to top customers
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The French luxury fashion house will debut a limited series of NFTs, each priced at about $41,712, which will unlock exclusive products and experiences for high-level customers.
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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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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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