Author: Journalist
The Hong Kong Monetary Authority opened up its tokenization “Project Ensemble” sandbox on Wednesday.Major institutions including HSBC and Global Shipping Business Network have already begun testing proofs of concept and HashKey Group plans to join the sandbox.The project is meant to future-proof the financial system, Julia Leung, chief executive officer of the Securities and Futures Commission, said.The Hong Kong Monetary Authority (HKMA) opened up its tokenization sandbox “Project Ensemble” on Wednesday and major institutions including HSBC have already begun testing proof of concepts.The sandbox is meant to “build the grand architecture for Hong Kong’s tokenization market and connect all essential…
Over two years ago, Sam Altman, co-founder of OpenAI, launched Worldcoin, a blockchain project known for its distinctive metal orb used to scan eyeballs.Recently rebranded as “World Network,” the platform provides users with digital passports — verified through the iris scans — to help online services differentiate humans from bots in an AI-driven internet.Now, a group of crypto veterans, including the co-founders of decentralized finance juggernaut Lido, are preparing to launch “Y,” a blockchain identity platform aimed squarely at competing with World Network.CoinDesk obtained an internal planning document for the new project. A person close to Cyber Fund, the venture…
Bitcoin (BTC) keeps hitting new highs, propelled above $77,000 on Nov. 8 for the first time ever by crypto industry optimism about Donald Trump winning the U.S. presidential election.Other cryptocurrencies are soaring, too. Ethereum’s ether (ETH), for instance, just surpassed $3,000 for the first time since August.What’s intriguing is that instead of selling off, bitcoin plowed through prior highs on Nov. 6 ($76,400), Nov. 7 ($76,900) and Nov. 8 ($77,200). Gold and U.S. equities are doing the same thing, hitting highs and then breaking them.This illustrates how strong the current rally is — and how likely it is to continue.Bitcoin’s…
57% of institutional investors in Sygnum’s 2024 survey plan to boost crypto allocations amid the bull run.65% of respondents are bullish long-term as bitcoin hits new highs.69% see regulatory clarity, but asset volatility remains a key concern.With the current crypto bull run, the good news just keeps rolling in, and global digital asset banking group Sygnum’s latest annual survey is no exception.The survey released on Thursday revealed that institutions are ready to put bigger bets on digital assets, with a striking 57% planning to ramp up their cryptocurrency exposure, fueled by a growing willingness to take risks and long-term confidence…
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U.S. President-elect Donald Trump wants Cantor Fitzgerald CEO Howard Lutnick — a vocal cryptocurrency enthusiast who has been stablecoin giant Tether’s (USDT) Wall Street banker for years — to serve as his Commerce Secretary, not Treasury Secretary.Lutnick was one of many vying for the powerful Treasury Secretary role, but reports over the past few days suggested his stock had fallen in Trump’s eyes. Tuesday’s announcement that he would be nominated to the Commerce role instead supports that, despite Lutnick’s role as part of Trump’s transition team. Punchbowl News and The Wall Street Journal first reported his new designated position earlier…
A notable 76% of family offices surveyed during the second half of this year have crypto exposure, according to a report authored by Aspen Digital.DeFi, AI, and DePin are key areas of interest.Private wealth is long-term bullish on crypto, expecting BTC to trade in five figures by the end of December.A growing number of Asia-based private wealth managers are entering the crypto market, with some forecasting bitcoin (BTC) will hit $100,000 by year’s end, according to a report by digital asset technology platform Aspen Digital.Digital assets have emerged as an alternative investment class for private wealth in Asia, with 76%…
Hex Trust says it has received in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution License.This has been a multi-year process for the custodian, but will be well worth it as regulation is the future, its CEO Alessio Quaglini said in an interview.Crypto custodian Hex Trust announced on Wednesday that it has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license.Major Payment Institution licenses allow firms in Singapore to conduct multiple payment services and deal with Digital Payment Tokens (DPTs). The licensing regime was created under the Payment Services…
The company behind the ENS blockchain domain service has cinched a plan to build its own layer-2 blockchain, dubbed “Namechain.”Namechain will be a zero-knowledge rollup, and will likely go live around the end of 2025.ENS Labs, the company behind the Ethereum Name Service, is moving ahead with a plan to launch its own layer-2 network.Namechain, as the new network is called, should go live around the end of next year, ENS Labs’ chief operating officer, Katherine Wu, told CoinDesk. It will use zero-knowledge rollups, a scaling technology that speeds blockchain transactions and reduces the cost of executing them by compressing…
Over two years ago, Sam Altman, co-founder of OpenAI, launched Worldcoin, a blockchain project known for its distinctive metal orb used to scan eyeballs.Recently rebranded as “World Network,” the platform provides users with digital passports — verified through the iris scans — to help online services differentiate humans from bots in an AI-driven internet.Now, a group of crypto veterans, including the co-founders of decentralized finance juggernaut Lido, are preparing to launch “Y,” a blockchain identity platform aimed squarely at competing with World Network.CoinDesk obtained an internal planning document for the new project. A person close to Cyber Fund, the venture…