BIG Weekly Newsletter

December 21, 2023
Issue: No 215

A Message To The Reader

Welcome to the BIG weekly Newsletter!

This week read about FINMA publishes guidance on staking – Switzerland once again a pioneer for the Web3 industry, how Raiffeisen Switzerland joins SIX Digital Exchange for digital securities, why China to implement blockchain-based identity verification system and how Bank of England makes history in becoming the first to see blockchain payment.

Wishing you an enchanting Christmas and a wonderful festive season!

Warm wishes,

Mauro Cappiello
Founder, Blockchain Innovation Group AG

BIG EXPERTISE

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BLOCKCHAIN HEADLINES

FINMA published supervisory notice 08/2023 on staking
FINMA has published supervisory notice 08/2023 according to which staked assets should have been considered public deposits.

LAWSIDE

Raiffeisen Switzerland joins SIX Digital Exchange for digital securities
The bank was the joint lead manager of a recent Zurich digital bond alongside co-leads UBS and Zürcher Kantonalbank. Raiffeisen Switzerland is now the second largest banking group in Switzerland.

LEDGERINSIGHTS

China to implement blockchain-based identity verification system
Chinese authorities are exploring new use cases for blockchain, with the latest foray being an attempt to establish a digital identity verification system.

COINGEEK

Bank of England makes history in becoming the first to see blockchain payment
Fnality seeks to bridge the gap between mainstream and digital finance to cut the time and cost of settling and making real-time wholesale payments for financial market transactions globally.

EURONEWS

REGULATED DIGITAL ASSETS (STO, TRADING, CUSTODY, COMPLIANCE)

Regulated asset tokenization to launch in India’s GIFT City
The team behind real estate development firm Collated has created a separate blockchain fintech, Terazo, to tokenize assets on the Poylgon blockchain. It’s part of the GIFT City sandbox and it also provides a marketplace.

LEDGERINSIGHTS

      Akemona expands global tokenized equity offerings in 2024
      Akemona partnerships with three new issuers for worldwide equity token offerings, leveraging blockchain technology for a more efficient and inclusive capital-raising process.

      THETOKENIZER

          UK legislation for Digital Securities Sandbox published. No limits specified
          19 organizations had expressed an interest in participating and they are keen to hear from more. The regulators involved are the Bank of England and the FCA. Four types of FMI’s can apply to be FMI sandbox participants

          LEDGERINSIGHTS

              FINANCIAL SERVICES & CENTRAL BANK DIGITAL CURRENCY (CBDC)

              City of Basel settles tokenized bonds using wholesale CBDC
              The city of Basel in Switzerland has achieved a milestone by completing what might be the first regulated settlement of tokenized bonds in a production environment.

              BITCOIN

              EMTECH completes Ghana CBDC hackathon on public DLT
              Participants were given access to BYDC-eCedi APIs to ease integration. All transactions used the ERC-20 token standard. While transactions were transparent on the public DLT, user information was kept private.

              LEDGERINSIGHTS

              Norway’s CBDC project enters Phase 5 research on issuance
              Norway’s CBDC research is now entering a fifth phase after completing a fourth phase conducted over the past two years. Phase 4 consisted of experimental testing of technical solutions and reviewing the legislative changes necessary to permit the introduction of CBDC.

              DAILYCOIN

              CRYPTOCURRENCIES, DeFi and NFT

              Everything you need to know about eco-friendly cryptocurrencies
              Bitcoin’s operation and mining consumes 140 terawatt hours a year. Hedera’s transaction verification method uses a low amount of power, and consumes far less energy than the mining, proof-of-work approach used by bitcoin, which relies on computer processors.
              THETIMES
              Ethereum sees major shift from centralized exchanges to DeFi
              Ethereum's shift from centralized to decentralized exchanges signals a maturing market. Ethereum holdings on CEXs enhances DeFi's profile. Uniswap V3's trading volume underscores investor confidence.

              CRYPTOSLATE

              Enjin migrates over 200M NFTs from Ethereum to its blockchain
              NFT platform Enjin recently migrated over 200 million NFTs. Enjin noted that over 118 million NFTs hosted on Ethereum, along with over 101 million NFTs hosted in an Ethereum sidechain called JumpNet, have been transferred to its mainnet called the Enjin Blockchain.
              COINTELEGRAPH

              RECOMMENDED INDUSTRY REPORTS AND BOOKS

              2023 State of Crypto Report:
              Introducing the State of Crypto Index

              A16ZCRYPTO

              Swiss Digital Asset Custody Report 2023
              The safekeeping of financial assets is a global strength of Switzerland’s banking industry.

              HOMEOFBLOCKCHAIN

              PODCAST SERIES

              UNCHAINED PODCAST

              Laura Shin is a crypto/blockchain journalist and host of the Unchained podcast. 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!
              Unchained podcast

              UPCOMING EVENTS

              Crypto Finance Conference 2024
              January 10-12, 2024

              NFT Paris
              February 23-24, 2024
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