Crypto Highlights: MetaMask's Big Move ??, Visa on Solana ??, Coinbase's Lending Leap ??, Token Titans Unite ??, Gaming Meets Blockchain ??, and More!
Hello Crypto Enthusiasts! ????
This week has been nothing short of spectacular, with massive moves from big players and intriguing trends emerging in the crypto universe. Dive right into the latest updates! ????
?? MetaMask Merges Worlds!
MetaMask Portfolio has unveiled a new feature ?? that enables users to convert their crypto to fiat within the app, with options to transfer to either a bank account ?? or PayPal ??.?
This streamlined process will likely encourage many newcomers to join the crypto world ??.?
However, there's a trade-off: by linking a Web3 wallet to a bank account, users might compromise their privacy ?? and anonymity ???♂?.?
This move prompts the question: Are major crypto and Web3 players prioritizing adoption over privacy? Currently, this feature is available in the U.S. ????, U.K. ????, and selected parts of Europe ????.
?? Visa Ventures into Solana!
Visa , already recognized for utilizing and testing blockchain technology ?? for payment settlements, previously operated predominantly on the Ethereum network ??.?
Now, they've expanded their stablecoin settlement capabilities to the Solana blockchain ??, marking their first foray into a non-EVM blockchain. The decision to choose Solana Foundation might be influenced by the recent network interruptions it experienced ??, signalling Visa's confidence in the platform's potential and resilience ??.?
As part of live pilot programs in collaboration with Worldpay and Nuvei, Visa has already transferred millions of USDC ?? across both Solana and Ethereum to settle fiat payments via VisaNet ??.?
This move aims to expedite cross-border settlements and offer clients a modernized stablecoin payment option ??.
?? Coinbase's Institutional Call
Coinbase has introduced a new lending service tailored for institutional clients in the U.S., aiming to fill the market gap after the bankruptcy of firms like Genesis Cable and BlockFi .?
This initiative was revealed through an SEC filing ?? on Sept. 1, with the platform already amassing $57 million ?? in funding. Notably, Coinbase had previously launched a crypto lending service ?? targeted at individual investors, which faced challenges from the SEC ??.?
The shift towards an institutional-focused service highlights a seeming prioritization of institutions over individual investors, a move that some observers might consider disappointing.?
This institutional service allows entities to lend crypto assets to Coinbase with over-collateralization for enhanced security ??, mirroring the prime brokerage services found in traditional finance ??.
?? Tokenization Titans Assemble!
Leaders in the tokenization of real-world assets (RWA) have come together to form the Tokenized Asset Coalition ??. This powerful alliance includes industry giants such as Avara , Base, Centrifuge , Circle , Coinbase , Credix , Goldfinch , and RWA.xyz .?
The move is monumental, as the tokenization of RWAs is anticipated to be a pivotal force in the global adoption ?? of blockchain technology. The calibre of the members indicates that this initiative means serious business ??.
?? ARK's Ethereum ETF Endeavor
Cathie Wood's ARK Invest, in collaboration with 21Shares, has taken the lead by applying for the first spot Ether (ETH) ETF in the U.S., breaking away from the recent influx of Bitcoin ETF applications. This groundbreaking attempt highlights the potential of Ethereum as the second-largest cryptocurrency by market capitalization.?
?? However, with the prevailing optimism around a spot Bitcoin ETF approval, there's industry speculation about how the SEC will view ETH in this context. ???
The proposed ETF plans to have Coinbase Custody Trust Company oversee the assets.?? As ARK Invest navigates the Bitcoin ETF regulatory maze, all eyes are on how Ethereum will fare in a similar journey. ??
?? Krafton's Crypto Game Plan
KRAFTON Inc. , the company behind the renowned game PUBG: Battlegrounds, has launched Settlus, a new layer-1 blockchain built on the Cosmos SDK, aimed at USDC settlements.
In collaboration with Circle , the Settlus platform was introduced during the Korea Blockchain Week, hinting at the potential integration for PUBG's vast user base. ?? This move signals a significant step toward incorporating blockchain payments in top-tier gaming titles. ?????
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?? JPMorgan Jumps into Blockchain
摩根大通 , the U.S.'s largest bank by assets, is delving into a blockchain-based digital deposit token aimed at expediting cross-border payments and settlements. ?????
While the underlying infrastructure for this payment form is mostly set up, the bank awaits approval from U.S. regulators before officially launching the token. This move exemplifies the increasing interest and adoption of blockchain solutions by leading financial institutions for optimizing and enhancing financial processes. ????
Casio's NFT Timepiece
Japanese electronics titan CASIO UK is teaming up with Ethereum scaling developer Polygon Labs to introduce a virtual G-SHOCK watch as an NFT on the Polygon Labs blockchain. ?????????
The initiative will commence with a community-driven approach, allowing users to claim one of 15,000 NFT-based G-SHOCK creator passes and partake in design submissions and voting for the watch's appearance. Casio's move mirrors a growing trend, with brands like DraftKings Inc. , 阿迪达斯 , and 星巴克 also venturing into the NFT space via Polygon's platform. ??
?? Google's NFT Game Ads Green Light
Starting September 15, 谷歌 will modify its #cryptocurrency advertising policy to permit ads for blockchain-based nonfungible token (NFT) games, provided they don't endorse gambling activities. ???
The updated policy will greenlight ads for NFT games that allow in-game item purchases to enhance gameplay but will maintain the ban on games involving wagering NFTs for rewards or real-world prizes.?
This change reflects a softening stance by Google on cryptocurrency-related ads, as it had previously banned all such advertising in 2018, only to later permit certain cryptocurrency exchanges and wallets targeting the U.S. to advertise in 2021.??????
?? Cerchia's Landmark Move
Breaking news! ?? Cerchia AG , our valued partner, has recently completed their pioneering on-chain #RWA transaction on their very own Cerchia marketplace!
Two private companies took part in a bilateral parametric swap transaction, referencing the PCS industry-loss index associated with storms in Florida. All of this was facilitated on a decentralized marketplace, which runs on Avalanche .?
As the 4soft team, we've been privileged to contribute our part to this landmark moment. Stay tuned for the next chapter! ??
?? Cupra's Metaverse Ride
Cupra introduced its DarkRebel concept car at the IAA MOBILITY show in Munich, initially unveiling it within the Metaverse platform, Metahype , in April 2023 ??. This digital unveiling enabled users to interact with and modify the car, amassing over 270,000 configurations, primarily from Spain and Germany ????????.?
This innovative use of the #Metaverse allowed CUPRA to gather valuable data on consumer preferences ??, illustrating the auto industry's growing embrace of digital technology to enhance design, customer engagement and potentially influence manufacturing and marketing processes??.
??? Grab Goes Web3!
Southeast Asia's top super-app, Grab , has integrated Web3 functionalities, allowing its 34.9 million monthly users to set up Web3 wallets and earn blockchain-based rewards, including NFTs.?
In collaboration with the Monetary Authority of Singapore (MAS) , Grab is introducing #NFT vouchers redeemable for dining and experiences in Singapore as part of a broader pilot study to gauge blockchain's potential in everyday transactions ?????.?
This move signifies Grab's strategic dive into the digital asset realm, partnering with companies like 亚马逊 and Fazz, aiming to revolutionize payment systems ????.
?? ConsenSys's Decentralized Drive
Consensys is set to launch a decentralized version of Infura, which currently provides the majority of #DApps with access to on-chain data from the Ethereum blockchain. This move towards decentralization, incorporating up to five varied global data providers, aims to enhance Ethereum 's reliability and resistance to censorship, eliminating the platform's single point of failure ???.?
This initiative, spearheaded by ConsenSys's Head of Strategy Simon Morris, anticipates the involvement of major Web2 cloud providers and aspires to create an architecture akin to TCP/IP, promoting a new #Web3 paradigm ??.
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