Greg Brockman announced his resignation, citing recent events and expressing satisfaction with the group’s accomplishments since the company’s establishment. The company’s announcement of Sam Altman’s departure, which it attributed to a lack of confidence in, suggests that internal strife at OpenAI is getting worse. Not long after, president and co-founder of OpenAI Greg Brockman announced
Asset management company Fidelity has applied for its own Ethereum ETF, just days after BlackRock filed for the iShares Ethereum Trust. A company that manages $4.5 trillion in assets, Fidelity, is the most recent to apply for permission to launch a spot Ethereum exchange-traded fund (ETF). Fidelity has proposed to list and trade shares of
Republic Crypto, a startup fintech, informed CoinDesk on Friday that it would host its soon-to-be-launched revenue-sharing tokenized security on the Avalanche blockchain. Investors who purchased a portion of the upside in the company’s venture portfolio will receive stablecoin dividends from Republic through the asset known as R/Note. Republic will give holders their pro rata share
The central bank said on Thursday that the Monetary Authority of Singapore (MAS) intends to launch a “live” central bank digital currency (CBDC) for wholesale settlement.According to MAS, the strategy is a component of a larger series of efforts to establish the foundation for a digital Singapore currency and to increase the number of asset tokenization trials. The Orchid Blueprint by MAS lays out the technological framework needed for digital money transfers in the future. A recent series of four experiments with industry participants aims to evaluate different elements of this framework.One will be tested initially at the current Singapore FinTech Festival 2023, which is examining tokenized bank liabilities for retail payments, the bank said. “To complement the digital money trials by the financial industry involving retail and corporate users, MAS will commence the development of CBDC for wholesale interbank settlement next year. MAS will pilot the “live” issuance of wholesale CBDCs for the first time, after previously simulating issuance within test environments,” the statement added. Future tests may examine cross-border settlements, but the first wholesale CBDC trial by MAS will settle retail payments between commercial banks.CBDCs for wholesale use have already been investigated in Singapore.International bodies have also given countries the green light to set up the infrastructure and laws necessary for producing digital versions of fiat currencies in order to keep up with the latest developments in payment technology.MAS Managing Director Ravi Menon referred to cryptocurrencies as “a failure on Thursday,” and some nations see CBDCs as a response to private cryptocurrency.
The government of the Philippines announced its intention to use blockchain technology to digitise its domestic debt market and plans to raise 10 billion pesos ($180 million) through the sale of a tokenized Treasury bond next week. The proposed offering comes after Hong Kong’s February 800 million Hong Kong dollar ($103 million) tokenized green bond
Superstate, an asset-management company based on blockchain technology, raised $14 million in venture finance to create regulated on-chain funds that are accessible to investors in the US.Distributed Global and CoinFund were the leaders in the round.Participating companies included Arrington Capital, Breyer Capital, CMT Digital, Department of XYZ, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and Road Capital Management. Superstate is committed to creating legally-required investment vehicles that are accessible to US-based investors using public blockchains.Under the direction of Robert Leshner, the creator of the decentralized finance (DeFi) lending platform Compound (COMP), the business plans to use the money for team growth, the creation of institutional investor-only private funds, and the development of a tokenized public fund structure. As traditional banking and blockchain technology intersect, the investment emphasizes the growing tendency toward the utilization of tokenized assets.The process of turning real-world assets (RWAs), like gold or bonds, into virtual representations that may be registered as tokens on a blockchain is known as tokenization.The race to unleash the potential benefits of tokenization, which some claim include enhanced efficiency and transparency, faster settlement times, and wider investor access, has even drawn the attention of major banks.The tokenized asset market may reach $10 trillion by the end of the decade, according to asset-management company 21.co. “The first-generation tokenized funds fall short,” Leshner said in the press release. “They either function within private blockchains or exist in off-shore entities, removing access for U.S. investors.” Superstate submitted a proposal earlier this year to establish a short-term U.S. government bond fund with Ethereum serving as a backup record-keeper. “Superstate’s approach to tokenization will bridge the gap between high-quality, compliant financial products and the massive advantages and innovation DeFi is poised to
The automatic stop on legal actions between bankrupt cryptocurrency companies FTX and BlockFi has been lifted by an order from a U.S. judge, allowing the parties to begin claims negotiations.A lender named BlockFi declared bankruptcy at the end of November of last year, partly as a result of the fallout from the abrupt demise of FTX earlier in the month.That set off the automatic stay, which put an end to their conversation.BlockFi was owed an additional $671 million by FTX’s sister business, Alameda Research, and had an estimated $355 million frozen on the cryptocurrency exchange’s platform. A Nov. 13 court ruling by U.S. bankruptcy judge Michael Kaplan allows FTX debtors to make “arguments, defenses, counterclaims, setoffs, or otherwise… with respect to the BlockFi claims in the FTX bankruptcy proceeding,” modifying the stay. After a five-week trial, Sam Bankman-Fried, the founder of the now-bankrupt FTX, was found guilty on all seven counts of cheating his lenders and customers at the beginning of this month.During the trial, BlockFi CEO Zac Prince testified against Bankman-Fried, explaining how the company’s engagement with FTX and Alameda caused it to lose “a little over a billion dollars,” forcing it to file for bankruptcy at that time. The creditors of BlockFi approved a bankruptcy restructuring plan in late September, which theoretically would have allowed the company to recoup the assets it had lost to FTX and the assets it had lost when the cryptocurrency hedge fund Three Arrows Capital failed in the summer of 2022.
After only eight days of launch, a token dubbed Grok AI—a social platform owned by Elon Musk that offers artificial intelligence services—sprang to a $160 million market valuation, following in the footsteps of other speculative frenzy this year that included tokens with frog themes and hamster racing. As per DEXTools, the price of Grok (GROK) has surged above 13,000% after more than doubling in the last 24 hours. The surge has been ongoing for a week.Thus, over the course of seven days, $100 invested in the tokens might have produced $1,300 in profit. Eleven thousand people own GROK tokens, and within the last day, there were $25 million worth of trades.Of the numerous GROK tokens that developers have generated across multiple blockchains, this one was the first. The most of them seem to have either rugpulled or failed to increase in value after issuance. According to DEXTools data, the top holders of GROK are sitting on unrealized profits ranging from $2.1 million to over $6 million.But as of Monday, there was only $3.5 million in available liquidity for the GROK-USD pair, which means that a one big sell may entirely reverse the surge.Grok, a social application X AI chatbot service, began to roll out last Saturday.According to previews, the service is funnier and more uncensored than current competitors, which may have contributed to its rapid cult following. On Ethereum (or other blockchains), anybody may create a smart contract for a few pennies, and tokens can be generated instantaneously, given liquidity, and traded shortly thereafter thanks to the existence of decentralized exchanges.The actual Grok AI service has nothing to do with any of the grok tokens.
In a management shuffle that occurred just four months after leaving rival Polygon Labs, Ryan Wyatt was appointed chief growth officer by a section of the Optimism Foundation.Wyatt will oversee blockchain development and assist developers in creating applications throughout the Optimism ecosystem in his capacity as CGO of Optimism Unlimited Ltd., an operational subsidiary of the Optimism Foundation. The second-largest layer-2 network on Ethereum is called OP Mainnet, formerly known as just Optimism. The Optimism Foundation is responsible for providing support to the larger community of businesses and developers who are dedicated to Optimism’s technology. The Base blockchain, which was introduced earlier this year by the American cryptocurrency exchange Coinbase, was powered by technology developed by OP Labs, the main company behind Optimism.Prior to leaving in July to take a position as CEO at Polygon Labs, Wyatt served as the company’s president. At the time, Marc Boiron was the Chief Legal Officer.From his stint at Polygon to his previous position at YouTube, where he first began investigating non-fungible tokens (NFTs) and digital ownership, he has a plethora of gaming knowledge. “I really do think that Optimism is the best team in crypto, hands down,” Wyatt told CoinDesk in an interview. “I loved my time at YouTube, I loved my time at Polygon. I’m super happy with the work that I did at both of those places. I’m so eager about what Optimism
Since the beginning of the year, the non-fungible token (NFT) market has primarily seen a decrease in trading activity; however, the market now seems to be going through a notable and positive transformation. The CryptoPunk non-fungible tokens appear to be one of the main collections driving this recent upsurge, according to on-chain data. For a
After receiving acceptance from more than 80% of validators, the “fixReducedOffersV1” amendment is currently in a two-week activation countdown phase.This change is a major improvement for XRPL. New features will be added to XRP Ledger (XRPL) in the coming weeks.Users using rippled v1.11.0 or older versions are urged to update their systems, according to XRPScan.FixReducedOffersV1 must be implemented in 14 days in order to address severe issues with DEX offerings. Updates above 80% are required.FixReducedOffersV1, the only change with an 80% consensus among the XRPL v1.12.0 update’s amendments, is the first to begin a two-week activation countdown.FixReducedOffersV1 seeks to improve the XRPL’s general operation by reducing the frequency of order books that are hidden by decreased offers. Within two weeks, protocol improvements supported by more than 80% validator support are permitted by the XRPL amendment.Because of this recent development, in order to continue participating as a node provider or in other designated protocol functions, you must update to the most recent version of the XRPL.This adjustment can make a lowered offer on XRPL decentralized exchanges (DEXs) more beneficial than the initial offer from the taker’s point of view by rounding the exchange rate.In certain situations, the reduced offer might be consumed by additional offers that match the original. If these modifications were not made, on the other hand, an offer with little residual sums would have very unfavorable conversion rates when rounded down from its initial value.This eventually makes it impossible to accept requests that are more favorable, which poses significant difficulties for decentralized brokerage systems that use the XRPL. With the release of XRPL version 1.12.0 in September, prominent features like fixReducedOffersV1 were added.Bug fixes and changes pertaining to the Automated Market Maker (AMM) and Clawback feature were included in the upgrade.In order to prevent disruptions, users have to update to the most recent version before September 20.Furthermore, it was determined that access to the XRPL update was necessary in order to vote on new amendments such as XLS-30.The XRPL has had significant improvements both inside and outside, which has improved its prognosis overall.The most recent security audit for the Xahau sidechain was completed successfully, which is encouraging for XRPL’s future.
A revised set of guidelines that the Proof of Stake Alliance (POSA), an advocacy group of companies and groups involved in staking on blockchains such as Ethereum, claims would guarantee consumer protections and encourage responsible innovation, was released on Thursday.Eighteen industry participants have approved the new “staking principles,” including several well-known companies as Ava Labs, Blockdaemon, Coinbase, Lido, Polychain, Paradigm, and Rocketpool. The list, prepared with the assistance of Paradigm’s Policy Lab, was updated “in light of the rapid advancements in the staking space and the need for updated best practices,” according to a press release. The press announcement states that the guidelines are meant to replace an original set of principles announced in 2020.They demand that service providers communicate more clearly, that users have complete discretion over the amount of their assets they stake, and that service providers clearly outline their duties. “Amid rapid technological advancement, self-regulation from leaders of the proof of stake ecosystem is essential,” Evan Weiss, founder of
Polygon Labs, an Ethereum scaling platform, has launched a grant program aimed at encouraging developers to create apps inside its ecosystem.A total of 110 million of Polygon Labs’ native token, MATIC, which is now valued at approximately $85 million, are being made available to projects related to social media, gaming, decentralized finance (DeFi), and other areas. In an email on Thursday, Polygon Labs announced that direct funds of up to 2 million MATIC ($1.55 million) would be made available to follow-up projects.Grants for “quadratic funding” are available to early-stage enterprises; donations are made by community members, who then vote on how the funds are distributed. As an off-chain network that lessens traffic and congestion on the layer-1 blockchain, Polygon is one of the top layer-2 networks on the Ethereum blockchain.By luring developers, whether they are established players in the cryptocurrency space or startups, to build on their platforms, the companies that are powering these networks are trying to establish themselves as the leading blockchain tech suppliers in order to create layer-2 networks on Ethereum.
One of the biggest banks in the world, HSBC, said that it will launch a digital asset custody service for institutional customers that would concentrate on tokenized securities in partnership with Metaco, a Swiss cryptocurrency safeguarding expert.The custody service will support HSBC Orion, the London-based bank’s digital asset issuance platform, and its recently launched tokenized physical gold offering, once it goes live in 2024, according to a statement from HSBC.The bank stated that the platforms taken as a whole will provide institutional clients with a comprehensive digital asset offering. Tokenization is the process by which banks and other financial institutions are adding a variety of real world assets (RWA) to blockchains, both private and public networks like Ethereum.Regulators in Singapore, Japan, the United Kingdom, and Switzerland announced last month that they will test tokenization for asset management, foreign exchange, and fixed income products. HSBC pointed out its custody plans for now involve “tokenized securities issued on third-party platforms, e.g., private and/ or public blockchain compatible tokenized bonds or tokenized structured products (not for custody of cryptocurrencies or stablecoins).” It was revealed in September that HSBC was collaborating with another custody technology company, Fireblocks.According to someone with knowledge of the situation, HSBC’s innovation team was involved in the bank’s collaboration with Fireblocks. The new custody service for digital assets “will complement HSBC Orion, our platform for issuing digital assets,
At the Global Startup Awards Africa in Addis Ababa, four Nigerian startups were recognised, giving them the opportunity to compete internationally in hopes of receiving more funding and recognition. The financial services startup Awabah, which caters to Nigeria’s informal sector, won the title of “Best Newcomer,” and Dataleum, a tech training and consulting company, won
Through this tripartite agreement with the blockchain companies, the South Korean telecom giant hopes to deepen its “affiliations with customer-preferred mainnets and decentralised applications”. Telecom provider SK Telecom (SKT) in South Korea has revealed plans to introduce T wallet, a Web3 wallet service, in collaboration with layer-1 mainnet providers Aptos Labs and Atomrigs Lab. In
Blockchain analytics company Glassnode was acquired by competitor Accointing, allowing cryptocurrency tax software supplier Blockpit to increase its presence in the United Kingdom.The deal sum was not disclosed by the Linz, Austria-based corporation.Florian Wimmer, the CEO of Blockpit, clarified in an email that the transaction was “multi-million dollar”. According to Blockpit, it will now be able to provide services to clients located in the UK by utilizing“a close public-private partnership with U.K. authorities, as well as with a wide range of leading CPAs,” in an emailed announcement on Tuesday. The purchase was made more than three years after Blockpit and the German company Crypto Tax merged.
The Polygon blockchain’s co-creator Sandeep Nailwal and lending protocol Aave’s founder Stani Kulechov are among the investors in Llama, a smart contract platform that has acquired $6 million in initial money from Founders Fund and Electric Capital.By allowing protocols to codify roles and rights to execute on-chain operations, such transferring funds or altering protocol parameters, Llama said it seeks to improve the efficacy of blockchain governance.The platform attempts to address some of the security flaws and inefficiencies that could result in subpar performance or, worse, hacks and exploits. According to Llama’s email from Monday, the technology is “designed for role-based governance.”One such scenario is that the operations team may decide to implement an emergency pause due to liquidity issues, or the cybersecurity team may update the risk parameters. Llama refers to this as “access control,” in which each participant is granted “the minimum amount of power to perform the function they are best suited to do,” co-founder Shreyas Hariharan said in the statement.
A court document on Friday states that the creditors of bankrupt cryptocurrency exchange FTX have requested permission from the U.S. bankruptcy court located in Delaware to sell certain trust assets, which include money belonging to Bitwise and Grayscale that are believed to be worth $744 million, through an investment adviser. “The Debtors’ proposed sale(s) or transfer(s) of the Trust Assets will help allow the estates to prepare for forthcoming dollarized distributions to creditors and allow the Debtors to act quickly to sell the Trust Assets at the opportune time,” the filing said. “Additionally, because the Debtors may sell the Trust Assets to one or
The week ending November 6th saw NFT sales volumes reach 68,342 ETH, according to blockchain analytics company Nansen. The blockchain analytics platform Nansen reports that the weekly Ether sales volume of nonfungible tokens (NFTs) has been steadily rising. Nansen noted that NFT sales for the week ending on October 9 were at 29,704 ETH, or
Michael Egorov, the founder of Curve Finance, has proposed to implement the Venus Protocol on the Ethereum Mainnet, indicating a calculated move towards a strategic growth in the decentralised finance (DeFi) space. This proposal, which aims to take advantage of Ethereum’s significant liquidity, also incorporates the use of native Curve tokens, crvUSD and CRV, as
Avalanche’s Aave v2 Ethereum Market and specific assets on Aave v2 are among the markets impacted by the pause. Also frozen are some assets on Optimism, Arbitrum, and Polygon. A post on X (previously Twitter) states that on November 4, the decentralised finance (DeFi) protocol Aave paused several markets in response to reports of a
Devin Finzer, CEO of OpenSea, tweeted on Friday that the non-fungible token (NFT) platform had reduced its operational workforce due to the ongoing downturn in digital art collectibles.According to early Friday reporting from the cryptocurrency news outlet Decrypt, up to 50% of OpenSea employees may have been impacted by the widespread layoffs. While NFT prices are still declining, the company is getting ready to introduce a redesigned marketplace called OpenSea 2.0. This coincides with the employment losses.Bored Apes and Pudgy Penguins are just two examples of the NFT collections that can be traded and collected on the marketplace. “We’re building a new foundation so we can innovate faster and we’ll have some experiences to share with you soon,” Finzer said in a post on X (formerly Twitter). “We will change how we operate – shifting to a smaller team with a direct connection to users.” According to The Information, OpenSea had 230 workers when it lay off almost 20% of its workforce in July 2022.How many workers the corporation had before this most recent round of layoffs is unknown. Furthermore, OpenSea 2.0’s differences from its predecessor are not immediately apparent.Finzer withheld information regarding the platform’s anticipated product portfolio and its planned release schedule.A Nansen report claims that in August, the floor prices of well-known NFTs from well-known or “blue-chip” collections dropped by more than 25%.A digital artwork from a certain collection, or drop, can be sold for as little as its floor price, which is an NFT.In the meantime, NFT prices have decreased more widely as well; so far this year, the Nansen NFT-500 index has dropped by 55%.
The Commodity Futures Trading Commission (CFTC) of the United States has focused its attention on how businesses manage the assets of their customers. The proposed rule changes by the CFTC aim to improve regulations for derivative clearing organizations (DCOs) and futures commission merchants (FCMs).It is currently mandatory for these businesses to use client cash to purchase highly liquid assets.The unique operating model of LedgerX is not taken into consideration by the amended regulations.In contrast to FCMs’ traditional position as middlemen, LedgerX functions as a DCO, forming direct relationships with clients. Commissioner Kristin Johnson of the CFTC has expressed concerns, pointing out that the laws are not keeping up with the industry’s rapid changes.Previously associated with FTX, LedgerX—now a subsidiary of Miami International Holdings—operates in a distinct business by offering direct client access, departing from traditional industry norms.LedgerX has gained recognition for its endeavors to settle cryptocurrency transactions directly for customers, departing from the traditional approach of enlisting middlemen.The business has strengthened its operations with improved consumer safeguards, like asset segregation, by successfully obtaining several CFTC registrations. Johnson is in favor of a redesigned regulatory structure that would offer retail clients consistent protection whether they transact with non-intermediated DCOs like LedgerX directly or through middlemen. The public will have a seventy-five-day period to provide input on the proposal concurrent with this call for action.This conversational phase could potentially direct the CFTC in resolving the regulatory shortcomings that Johnson has identified.Ensuring that regulatory measures stay in line with the dynamic derivatives market is the CFTC’s role.This is necessary to keep an even playing field and safeguard the interests of retail customers.
According to Jamie Coutts, a Bloomberg analyst, the use of blockchain technology has continued “unabated” in both bull and bear markets in recent years. According to forecasts made by Bloomberg Intelligence analyst Jamie Coutts, if the current rate of adoption of blockchain technology continues, it could have 100 million daily users by 2028. According to
In order to enable trading on an expanding list of significant exchanges without requiring customers’ funds to leave the safe haven of cold storage, cryptocurrency safekeeping companies BitGo and Copper are merging their individual in-custody settlement networks.Exchanges like Bybit, OKX, Powertrade, Bitget, Gate.io, Deribit, BIT, Bitfinex, and Bitstamp will be accessible to customers following the integration of qualified custodian BitGo’s Go Network with Copper’s well-liked ClearLoop system. “We asked the question: do we want to win versus traditional finance?” said Matthew Ballensweig, who leads BitGo’s Go Network. “Can the crypto guys band together to create a true institutional-grade product that has real market scale, as opposed to waiting for Goldman or Fidelity to build out the custody and connectivity infrastructure for
According to data compiled by Paris-based Kaiko, Solana’s SOL has increased by more than 50% in just two weeks, with Coinbase (COIN), a digital asset exchange listed on the Nasdaq, emerging as a key driver of bullish pressure on the coin.SOL’s cumulative volume differential (CVD) on Coinbase has climbed by about $1 million since October 25, showing net capital inflows.Early this week, CVD on Kraken and Binance turned positive, but it has been negative and moving south on Upbit, a South Korean exchange, for the past two weeks. The net difference between the volumes of purchases and sales is tracked over time by the CVD metric.It is a running total of the market’s net bullish and bearish pressures, with positive levels denoting a surplus of buying activity.Values that are negative imply otherwise. Riyad Carey, a Kaiko analyst, claims that Coinbase’s median order size has been higher than that of other exchanges, which could indicate that institutions are placing bids for SOL through the Nasdaq-listed platform.After multibillionaire institutional asset manager VanEck released a report outlining a bullish case scenario that may see the price of bitcoin reach $3,200 by 2030, Coinbase emerged as the market leader in the SOL space. The optimistic forecast is predicated on the possibility that Solana will be the first blockchain to support apps with more than 100 million users.Nevertheless, the recent price increases for SOL have not yet stimulated on-chain activity.DefiLlama reports that in just two weeks, the total value of assets locked in Solana-based DeFi protocols dropped from 12.03 million SOL to 10.23 million SOL, the lowest amount since April 2021.TVL is a commonly used metric to measure the adoption of smart contracts, despite its limitations. On chain analyst Patrick Scott stated on X that while volume on Solana-based decentralized exchanges and active addresses on the network has increased, it has not been enough to support the price rises.
For the purpose of creating digital lari, the National Bank of Georgia (NBG) has chosen blockchain payments network Ripple Labs as its official technical partner. Digital lari is a central bank digital currency (CBDC). The digital lari pilot project will be implemented and made available through the Ripple CBDC Platform, according to a statement from Ripple.With the use of this cutting-edge CBDC platform, the NBG will assess possible uses for the digital lari and ascertain its benefits for the public sector, businesses, and private consumers.Prior to being named NBG’s technology partner, Ripple went through a rigorous and careful selection process.The NBG announced in September that it would be launching a limited access live pilot environment as part of its efforts to progress the CBDC initiative. Because of their technological brilliance, maturity, aptitude, relevant background, and willingness to engage in the practical assessment, the NBG selected nine firms for the first round of the process.Augentic, Bitt Inc., Broxus, Currency Network, DCM Corp., and other companies were listed with Ripple.The release from NBG stated that the selection committee took into account a number of elements, such as understanding the project’s goals, possible applications, and a strong commitment to the project’s success. Currency Research honored Ripple in July for its innovative role in promoting CBDCs and its contributions to the evolution of digital currencies, as well as for its finest sustainability project. Prior to collaborating with the NBG on the digital lari initiative, Ripple actively partnered with businesses looking to implement CBDCs.In order to explore blockchain applications in its digital peso pilot, Ripple previously partnered with Banco de la República, the central bank of Colombia, using the Ripple CBDC Platform.
The layer 1 Near Protocol’s native token, NEAR, surged on Wednesday following the announcement of a collaboration with Nym Technologies.NEAR has outperformed the rest of the cryptocurrency market, rising 11% in the last 24 hours.At the time of press, Solana’s SOL was the only token to make significant progress on Wednesday, rising by 10%.For the most part, ether (ETH) and bitcoin (BTC) were flat. The Near Foundation announced a partnership with Nym Technologies, a venture capital firm Andreessen Horowitz (a16z) and Binance Labs-backed privacy infrastructure project.A press release stated that the collaboration will incorporate the Nym mixnet into the Near ecosystem.Any blockchain can be integrated with the Nym mixnet, a chain-agnostic layer-0 privacy infrastructure. According to the press release, the partnership will give privacy to all traffic on Near’s blockchain, enabling users to access dApps, NFTs, and DeFi privately. “The open, transparent nature of public permissionless blockchains means that transaction data is visible to anyone who cares to look, and even off-chain information like IP addresses and geolocation data can be vulnerable to being exposed,” said the press release. Nym will shield transaction data in transit, conceal off-chain metadata traffic, and make it far more difficult for adversaries to “de-anonymize” users using their public IP addresses thanks to the partnership, the statement continued.Next week, Near will hold its yearly conference, Nearcon, in Lisbon.
Retail investors in Mexico were introduced to “Stablebond,” a tokenized bond offering, by Etherfuse, a platform that aims to enhance decentralized blockchain infrastructure, during Solana’s breakpoint conference in Amsterdam.Mexico is the company’s second-largest Latin American bond market after Brazil, which is why the company is focusing on it.According to the research, the market has an average daily trading volume of $200 million and $623 billion in outstanding debt, making it one of the most liquid in Latin America. According to a press release from Etherfuse, institutions, governments, and foreign investors account for the majority of trading volume in Mexico; this indicates that there are few retail or individual bond investors.Etherfuse is trying to change this by providing Stablebonds to retail investors; currently, just 2% of bondholders are Mexican.In line with the press release, stablebonds are constructed on Solana and supported by the Mexican government. This occurs as the practice of tokenizing physical assets gains traction.The tokenized Treasury market increased from approximately $100 million at the beginning of the year to $698 million as of Monday, according to real-world asset (RWA) monitoring platform RWA.xyz. “Stablebonds mark an evolution of investment solutions,” said Dave Taylor, CEO and co-founder of Etherfuse, in the statement. “By marrying the traditional world of bonds with the innovation of blockchain technology, we are creating a secure and transparent tool for investors and are adding further stability to DeFi and blockchain products,” he
