The cryptocurrency market remains mixed with Bitcoin (BTC) and a few of the major altcoins remaining bullish, while the rest of the altcoins continue to trade in the red zone. While preparing this report, Bitcoin (BTC) was trading at $43,828, down 0.90% in the last 24 hours. Ethereum (ETH) has lost 0.40% to trade at $2,934. XRP was trading at $0.7654, a decrease of 0.80% in the same period.
Major altcoins, which have gained ground in the last 24 hours, include Cosmos (ATOM, $33.19, 6.40%), Shiba Inu (SHIB- $0.00002600, 2.10%), Terra (LUNA- $93.16, 0.10%), and Polygon (MATIC- $1.62, 0.40%).
Major altcoins, which have lost ground in the last 24 hours, include EOS (EOS-$2.20, -2.30%), IOTA (IOTA-$0.7789, -1.50%), Stellar (XLM-$0.1915, -2.50%), VeChain (VET, $0.0525, -0.10%), Avalanche (Avax- $82.42, -4.70%), ChainLink (LINK-$15.16, -0.30%), Uniswap (UNI, $9.88, -3.6%), Polkadot (DOT, $18.26, -2.90%), Binance Coin (BNB- $407.76, 0.7%), Cardano (ADA, $0.9309, -2.6%), Dogecoin (DOGE, $0.1327, -1.20%), Near (NEAR- $10.94, -4.7%), Bitcoin Cash (BCH, $316.48, -3.20%), Tezos (XTZ-3.45, -0.50%), Internet Computer (ICP, $19.14, -1.90%) and Solana (SOL, $98.74, -1.40%).
Government level initiatives
Riksbank completes second stage CBDC trials
While revealing the conclusion of the second stage of central bank digital currency (CBDC) trials, Sweden’s central bank, Riksbank, has stated that it now intends to conceive the criteria for an e-krona. The central bank is yet to decide whether to issue retail CBDC.
For the past two years, using enterprise-level blockchain Corda, tech giant Accenture has been working on the CBDC project by joining hands with the Riksbank. The partnership has been extended for another year. Offline payments have been explored by technical trials and even integrated commercial banks into the CBDC platform. By spring, the central bank intends to publish the results.
Commenting on the trial, Mithra Sundberg, Head of the E-krona Division, said, “In stage 3, we will start creating a framework for the criteria for an e-krona, if it is agreed to release one. All testing, assessments, and studies will serve as a foundation for this effort. We will also rely on expertise gained from the project’s speedy worldwide expansion.”
Private sector initiatives
BNY to utilize compliance software from Chainalysis
Blockchain data platform Chainalysis has revealed that the Bank of New York Mellon Corporation (BNY), which is the world’s biggest asset management company, will utilize the compliance software of the former to manage risk. Notably, BNY is the foremost Global Systemically Important Bank to use the software of Chainalysis. The integration is yet another step in BNY Mellon’s intention to offer a range of crypto services to its customers.
Chainalysis serves several regulators and law enforcement organizations, including the United Nations Office on Drugs and Crime (UNODC) and EUROPOL.
Miscellaneous
Securitize takes over Pacific Stock Transfer
Blockchain-focused service provider Securitize, backed by Nomura, SBI, Santander, MUFG, and Sony Financial Ventures, has taken over Pacific Stock Transfer, whose operation revolves around conventional stocks. Securitize, which is a security token firm, aids in digitizing recordkeeping for stock holdings as digital assets. In 2019, Securitize was registered as a stock transfer company.
Currently, about 3,000 publicly listed and privately held firms utilize the services of Pacific Stock Transfer. On the other hand, Securitize has 200 firms that have issued security tokens via its platform. By acquiring Pacific Stock Transfer, Securitize has turned out to be one of the top ten stock transfer companies in the US. Following the acquisition, Securitize will be able to offer the option of stock tokenization to its new customers.
Notably, Securitize is already offering an end-to-end service. Its platform facilitated primary market security token issuance in its initial days. Two years back, Securitize bought DTM, the FINRA licensed alternative trading system (ATS), which paved the way for the company to roll out secondary market trading.
COO of Pacific Stock Transfer, Billy Miller, who will soon head Securitize, said, “Pacific Stock Transfer has so far streamlined this procedure for our customers via our DTC / Fast Automated Securities Transfer service, and our connectivity with blockchain-powered bookkeeping will empower us to offer vastly enhanced and more productive service to customers and their stakeholder in the coming years.”
Wrangler partners with Leon Bridges for NFT series release
To celebrate the 75th anniversary, the popular denim brand Wrangler has partnered with Grammy award winner Leon Bridges to release a two-phase non-fungible token (NFT) series involving digital assets and also in-person interactions.
The initial drop will be made up of 75 NFTs displaying a typical dance move of Leon Bridges. The digital asset grants entry to an internet community, a cartoon NFT, a Wrangler-branded virtually wearable gear for usage in the Decentraland metaverse, as well as a ticket to a VIP Bridges performance for New York Fashion Week in September. Following the conclusion of the auction for the 75 NFTs, they will be available for trading on secondary markets such as OpenSea.
The next lot of NFTs will be released in September. This will include a digital equivalent (usable in Decentraland) of Wrangler’s unique denim jacket and jeans tailor-made for Leon Bridges. Furthermore, the bid winner will also receive a physical replica of the attire and access to unique content produced by Bridges. The aforesaid NFTs will be hosted on Ethereum blockchain via LTD.INC NFT platform.
Notably, the minimum bid for the NFT has been set as 0.3 ETH (or ~$816). Interestingly, Wrangler is also conducting an event named Wranglerverse in the metaverse of Decentraland. The digital wearables can also be accessed at that time.
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