This Week in Web3: Ripple, 21.co, and Monochrome Redefine Crypto Landscape
DeFi Planet
A digital publication on Web3 including Blockchain Technology, Cryptocurrencies, Decentralized Finance (DeFi) and so on.
Weekly Round-Up #107 | Get caught up on the latest developments in Web3!
Ripple is shaking things up with its plan to introduce smart contracts on the XRP Ledger (XRPL). This upgrade is about boosting programmability, giving developers the tools to create customized applications.?
There is no need for formal approvals here—developers can dive right in and utilize existing features like escrows, NFTs, and decentralized exchanges. The Ripple team promises that these smart contracts will be secure, efficient, and easy to deploy, making the XRPL more versatile than ever.
In a big move for the digital asset scene, 21.co has launched its Wrapped Bitcoin product, 21BTC, on Ethereum. Announced on September 3, this initiative, done in partnership with Flow Traders, is designed to cater to the institutional crowd.
With Bitcoin assets securely stored in cold storage, there’s no need for the usual bridge—this means enhanced liquidity and smoother cross-chain transactions. Eliezer Ndinga from 21.co highlighted their commitment to top-tier asset management practices, allowing users to confidently explore dApps and engage with DeFi platforms.
Down under, Monochrome is looking to list a new Ethereum exchange-traded fund (ETF) on Cboe Australia. Their proposed IETH fund aims to make it easier for retail investors to dive into Ethereum, the second-largest cryptocurrency.?
What’s cool about IETH is its dual-access structure, allowing both cash and in-kind applications. But a word of caution: cryptocurrencies can be volatile, so potential investors should read the fine print and ensure it fits their financial goals.
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Spotlight on interesting projects?
Tezoro
Tezoro is a non-custodial service that allows you to reduce the risk of losing your crypto by ~100 times by creating a backup: a smart contract that can withdraw crypto from your wallet and transfer it to a backup address even if you've already lost access to your wallet or died. Tezoro is a non-custodial service. It helps you to prepare your backup, and you confirm it via your MetaMask and deploy it directly to the blockchain.
Nobody, including Tezoro, can change the amount or replace the backup address. The only thing you allow it to do is initiate the transfer at the moment you need it.
For more information, visit https://tezoro.io/?
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