Blockchain platform provider Paxos has introduced a U.S. dollar-backed stablecoin, Global Dollar (USDG), that will comply with the upcoming stablecoin framework from the Monetary Authority of Singapore (MAS), Singapore’s central bank and integrated financial regulator. Paxos Digital Singapore Pte. Ltd. is the issuer of USDG and is regulated by MAS officials. “Paxos’s affiliate, Paxos Global… Read More >>
DTCC Hopes R&D Sandbox Fosters Digital Assets Ecosystem
The Depository Trust & Clearing Corp. (DTCC) is attempting to clear a path to a functional digital asset ecosystem that is as safe as the one in place for conventional securities trading. To get there, the post-trade market infrastructure provider is unveiling the “DTCC Digital Launchpad,” described as “an industry sandbox intended to bring together… Read More >>
Time to Integrate Digital Asset Securities?
(Jacek Bugaj, the new head of product at Prometheum Inc., is on a mission to integrate the emerging benefits of digital asset securities within traditional market infrastructure. Bugaj will oversee the development, launch, and maintenance of Prometheum’s suite of products, which are delivered via SEC-registered and FINRA-member entities Prometheum ATS and Prometheum Capital. His mission… Read More >>
CACEIS Launches Custody Architecture for Digital Assets
Fund administrator CACEIS reports that it is helping clients subscribe to “the first French UCITS money-market funds with units natively issued and delivered on Ethereum’s public blockchain. ” This marks the launch of CACEIS’s new custody architecture for tokenized financial instruments and crypto-assets. “The Undertakings for the Collective Investment in Transferable Securities (UCITS) is the… Read More >>
State Street & Taurus to Build Digital Custody Services
State Street Corp. is bolstering its digital asset solutions business via an agreement with Taurus SA, a digital asset infrastructure provider, in response to institutional interest in digital assets that’s “at an all-time high,” according to the Boston-based custodian bank. The collaboration will add tokenization and digital custody services support to the custodian’s currently available… Read More >>
ProCap Readies Custody for 3 Digital Asset Securities
With the addition of Uniswap (UNI) and Arbitrum (ARB) to its custodial platform, Prometheum Ember Capital will offer custodian support for three digital asset securities, as the firm previously announced custody services for Ethereum’s ether (ETH) token. Prometheum Capital officials say the firm intends to fully launch its custodial services to institutional investors later this… Read More >>
Cantor Fitzgerald Dives Into Bitcoin Financing
Inter-dealer broker Cantor Fitzgerald has plans to launch a Bitcoin financing business in an effort to help investors leverage their Bitcoin. “The firm will launch with $2 billion in initial financing and will continue to substantially grow the operation,” according to the initial announcement. “To launch the effort, Cantor Fitzgerald will partner with select Bitcoin… Read More >>
Cboe Clear Europe & ABN Amro Test CBDC as Collateral
Cboe Clear Europe, a pan-European clearinghouse, and ABN Amro Clearing Bank N.V., report that they have been testing the use of a central bank digital currency (CBDC) as collateral, essentially exploring the potential of distributed ledger technology (DLT). In particular, they have been “testing the viability of the solution for margin calls outside the opening… Read More >>
ANNA, DTIF & GDF to Build Links to Digital Assets
The Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTI Foundation) want to build “a strong foundation” that links traditional and digital finance through a new partnership with Global Digital Finance (GDF), officials say. The GDF is a non-profit association of member firms, which offers “an open innovation platform for advocating… Read More >>
DTCC & Chainlink Explore Mutual Fund Tokenization
The DTCC and Chainlink have been busy with something they are calling the “Smart NAV pilot,” which was an attempt to apply the digital asset capabilities of both organizations to mutual fund tokenization. (NAV is “net asset value,” or an investment firm’s total assets once all liabilities have been subtracted.) In mid-May, both players went… Read More >>
