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2023-02-15 15:35:03 DeFi-protocol for institutes received investment

A subsidiary of Japanese investment banking giant Nomura, Laser Digital, a digital assets company, has made a strategic investment in the decentralized finance (DeFi) protocol. Infiniti Exchange, an institutional-level startup, was chosen.

Representatives from the organizations did not disclose details of the deal or the project's valuation. Infiniti Exchange is a hybrid lending and borrowing platform that combines blockchain-based settlement with traditional financial (TradFi) processes and risk management. The protocol, founded by a former Morgan Stanley member, focuses on providing institutional investors with fixed and floating rate markets and a cryptocurrency yield curve.

"The Infiniti Exchange foundation paved the way for institutional flows within the network, new levels of rates and risk innovation," Olivier Dang, head of venture capital at Laser Digital, said in a statement. He also added that there has been a growing trend toward merging DeFi's crypto infrastructure and TradFi solutions. This enables the tokenization of assets such as loans, as well as the formation of new markets based on blockchain technology.

Nomura's investment follows Infiniti's successful $4.2 million seed funding round, which included venture capital firms such as CMS, GSR and Susquehanna. Japanese financial services firm Nomura began trading cryptocurrency derivatives in 2022. Laser Digital emerged later and became responsible for investments and transactions in digital assets.

Earlier, it was reported that Clearpool, another DeFi-protocol, planned to launch its own institutional-level platform in 2023. Maple Finance recently introduced an institutional-level tax receivables lending pool. Open / Comment

2023-02-14 19:15:18 Rwandan authorities demanded that banks stop all operations with cryptocurrencies

A statement from the National Bank of Rwanda (NBR) was published on January 31, but the news is only now breaking in the media. Soraya Hakuziyaremye, deputy governor of the NBR, said that financial service providers are prohibited from engaging in "any activity related to cryptocurrency until there is a legal and regulatory framework in place.

Despite previous NBR warnings, Hakuziyaremye admitted, Rwandans continue to trade in digital assets such as bitcoin. If the statement is to be believed, "more than $2 million in cryptocurrency has been traded in the Rwandan market since January 2020."

A year ago, the NBR said it was studying the risks and benefits of launching its own digital currency and promised to complete its research by December 2022. One African central bank that is particularly far along on the issue is the Central Bank of Nigeria, which launched the digital Nigerian naira in the fall. And Kenya's central bank published a report in February on the opportunities and risks of a digital Kenyan shilling. Open / Comment

2023-02-13 18:03:02 UAE Central Bank announces the launch of CBDC

The Central Bank of the United Arab Emirates (UAE) has announced plans to issue its own central bank digital currency (CBDC) for domestic and international payments. The initiative was created as part of a renewed project to accelerate digital transformation in the state.

The release of a virtual version of the dirham is one of the nine points of the new document. Specialists from the financial sector have seriously set themselves the task of changing the payment infrastructure of the Central Bank and made an emphasis on the cryptocurrency sector.

According to official data, the first stage will be the creation of "a series of digital payment infrastructures and services. This will include the issuance of a standalone CBDC, which will be used not only domestically, but also for "cross-border use.

"These digital payment initiatives will enhance access to financial services, promote payment innovation, security and efficiency, and create a cashless community," said an official document released by the UAE Central Bank's leadership. Specialists also noted: the digital dirham is designed to "solve the problems and inefficiencies of cross-border payments, as well as to stimulate technological innovation.

Market experts assured that in 2023 central banks in many countries began to actively consider launching their own CBDC to improve the payment and banking sectors. The Bank of England, for example, recently published plans to integrate the digital pound sterling.

In addition, the authorities in Dubai, in February 2023 published comprehensive regulations for the cryptocurrency sector. The document included the establishment of a licensing regime for technology companies and a ban on the issuance of anonymous digital assets. Open / Comment

2023-02-12 18:49:33 Ericsson and Batelco develop Ericsson Customer Acceptance platform

Swedish telecommunications equipment manufacturer Ericsson and Bahrain-based telecommunications company Batelco have developed the Ericsson Customer Acceptance (ECA) platform, which is based on Blockchain technology.

Nicholas Blixell, vice president of Ericsson GCC, said their platform has significantly reduced the time customers spend sending inquiries (by 42 percent) and delivered documents faster. With this system, customers do not need to be in the office as any data is processed instantly and all information is securely stored in a blockchain without being altered. In addition, each participant can track the progress of business transactions, which increases customer confidence.

Rashed Mohamed of Batelco Technology Development said the two companies have been working together for more than 40 years and are enthusiastic about blockchain technology. Executives at both companies will continue to explore how it can meet customer needs. He added:

"Batelco is committed to taking advantage of technological advances to improve operational efficiency. The use of Blockchain has simplified operations and accelerated business operations, so customer support is much more efficient."

Blockchain can be used to transmit and store data; last year, SWIFT partnered with U.S. fintech company Symbiont to create a platform based on the technology for exchanging corporate data. Open / Comment

2023-02-11 16:29:02 EminiFX CEO pleads guilty to $250 million fraud

According to the U.S. Attorney's Office for the Southern District of New York, Eddy Alexandre attracted investments from tens of thousands of people, promising them a weekly profit of at least 5%. Which, of course, is impossible on an ongoing basis.

"Alexander's fraud resulted in investors losing millions of dollars. This case should be yet another warning to cryptocurrency executives that authorities in the Southern District of New York are watching closely and ready to prosecute any misconduct in the digital asset markets," the prosecutor's office emphasized in a statement.

According to prosecutors, Eddie Alexander embezzled at least $14.7 million and also bought a BMW car with investor funds. After pleading guilty, the former EminiFX CEO faces up to 10 years in prison. He has also agreed to repay $248.8 million in illegally obtained funds.

Last November, popular Instagram blogger Jebara Igbara pleaded guilty to money laundering using bitcoins. Open / Comment

2023-02-10 17:05:05 Microsoft has curtailed the development of the meta-universe

Tech giant Microsoft fired 100 employees responsible for the development of the meta-universe

Microsoft Corp. fired a team of 100 people who were responsible for the development of the meta-universes. It is reported by The Information.

According to the newspaper, the team was called the "Industrial core of the meta universe" and focused on industrial environments. The division focused on creating interfaces for operating control systems for power plants, robotics and transportation networks.

Microsoft created the team last October. The team, mostly made up of a group known internally as Project Bonsai, fell victim to Microsoft's announced plan last month to lay off 10,000 employees.

Last month, Microsoft decided to shut down AltspaceVR, a virtual social interaction platform, after 10 years of operation amid reports of harassment. The site allowed users to host virtual events ranging from magic shows to red carpet premieres. According to media reports, there have been several instances of harassment in virtual reality at once. For example, involving The Washignton Post reporter Taylor Lawrence. It is noteworthy that the company has known about incidents of harassment for a long time: a year ago, for this reason, Microsoft forbade users to gather in virtual spaces, where they can freely discuss any topic.

Numerous attempts by Microsoft to develop the direction of the meta-universe appear to be failing. In December, the Federal Trade Commission (FTC) filed a lawsuit to block the corporation's purchase of computer game developer Activision Blizzard for $69 billion as part of its own meta-universe development. The regulator fears that Microsoft could use ownership of Activision's games to raise prices or to divert players to game platforms it controls, such as Xbox or Windows. Open / Comment

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2023-02-08 15:48:01 Tron developers will change the way commissions are calculated

Last December, the developers changed the algorithms for calculating commissions, and as a result, the cost of energy (ENERGY) rose from 280 Sun to 420 Sun. After that, there were quite large-scale failures of transactions with stabelcoins and tokens. As a result of the surge in activity, commissions rose markedly and are still high. So, at the moment, the fee for a USDC stabelcoin transaction is about 14 TRX ($0.92).

That's why at the beginning of February the developers offered to change the whole model of calculating commissions and make it dynamic. The idea was supported, and soon after that the popular Trust Wallet suspended work with USDT tokens of TRC-20 standard.

Recall that the Tron network uses two resources for commission payments - ENERGY and BANDWIDTH. The first one is needed to pay for transactions with smart contracts, for example, when transferring USDT stabelcoins. It can be obtained with TRX Stacking, or a certain amount of TRX coins will be burned during the transaction. BANDWIDTH is used for any transactions, but itself is periodically replenished. Thus, if you use your TRX for stacking, you can perform transactions for free.

Earlier, major cryptocurrency exchange Huobi announced support for TRC-20 standard USDT stackcoins. Open / Comment

2023-02-07 16:36:32 Ethereum developers plan to move Chappelle to Zhejiang testnet

Tim Beiko of the Ethereum Foundation reported that developers are preparing to launch Shapella on the Zhejiang test network.

"Shapella" combines the words "Shanghai" and "Capella," representing two planned updates that will enable Ethereum inference and simultaneously update the consensus level of the Beacon network.

Beacon also urged validators to get 33 test ethers to participate in "Zhejiang."

The network has a builder, a block reviewer, and support for a stacking launch panel: if you want to run a validator through the Shapella transition, this is a great opportunity," Beiko wrote on Twitter (the social network is banned in Russia).

You can get 33 ETH through the collector, run your validator and be ready for Tuesday on Shapella.

The Ethereum Foundation developer added that "if the fork in Zhejiang goes well, they will be ready to move to public test networks."

Beiko stressed that developers are tracking bugs before moving "Chappelle" to the Zhejiang public test network. There will be another developers' meeting on Feb. 9 to discuss the experience. Open / Comment

2023-02-06 20:28:06 Chinese liquor manufacturer issued NFTs tied to the product

Chinese liquor manufacturer Kweichow Moutai, one of China's largest companies by market capitalization, has announced the release of its own collection of non-exchangeable tokens (NFTs), which entitle holders to buy rare spirits in the real world.

Moutai released 113,960 Lichun-themed NFTs, where each digital collectible is tied to a physical bottle of liquor.

The 500-milliliter bottles of liquor sell for 2,899 yuan ($427) and for 5,699 yuan per 100 ml for a total of 139 million yuan (more than $20 million).

Customers can buy drinks for fiat by earning NFT after completing in-game tasks in the Xunfeng Digital World mobile app, which contains a digital copy of the Moutai winery.

And while NFT cannot be sold in-game, as an alternative, liquor lovers can generate digital collectibles by conducting exchanges between players using in-game tokens. This procedure can cost about 1,600 yuan. Open / Comment