Author: NBTC

Banks defend themselves against stablecoins by saying they are building tokenized deposits to modernize payments, with programmable money and around-the-clock settlement. Falcon Finance chief RWA officer Artem Tolkachev told CryptoSlate that the explanation covers only half the reason: “It is the balance sheet, not the technology.” A tokenized deposit keeps the money a stablecoin would move off a bank’s balance sheet, leaving it as a deposit the bank can still lend against. Tolkachev said: “A stablecoin competes with the deposit. A tokenized deposit is the deposit, just programmable.” Underneath stablecoins and tokenized deposits Tolkachev said that, to whoever is holding…

Ripple minted $133.3 million in $RLUSD on the $XRP Ledger on August 3, according to data from the Ripple stablecoin tracker website. The substantial mint on the $XRP Ledger comes amid growing activity for $RLUSD and rising demand for stablecoin liquidity. The minting introduces new liquidity to the XRPL ecosystem, where $RLUSD has been broadening its role across payments, decentralized finance, and institutional use cases. In the last seven days, $185 million in $RLUSD has been minted on the $XRP Ledger, bringing the total to $309 million in the last 30 days. $RLUSD supply on the $XRP Ledger has surpassed…

Han, whose crypto exchange focuses primarily on Asia and is ranked fifth on CoinGecko, said the short-term winners are likely to be digital asset service providers with licenses in overseas regulated markets. Even so, the U.S. limbo is not good for the industry overall, regardless of where crypto service providers are based, he said. The Senate impasse leaves the U.S. and U.K., whose full rules don’t come into effect until next year, among the few major global financial hubs without clear rules for the industry. The European Union adopted its Markets in Crypto Asset (MiCA) regulations, which came into full…

SBI Holdings, through its subsidiary SBI Digital Practice, and Kyobo Life Insurance have completed a cross-border stablecoin pilot designed to test institutional transactions between Japan and South Korea, according to a recent statement. SBI Digital Practice is a Tokyo-based SBI Group company focused on bringing blockchain-based financial infrastructure to regulated institutions through the Canton Network. The company also works on cross-border and cross-currency transaction systems, including settlement, foreign exchange, tokenized securities and stablecoins. Using the Canton Network’s test environment, the companies simulated the full process from transferring a yen-denominated stablecoin representation to exchanging it for a won-denominated representation and completing…

While many cryptocurrencies navigate a mixed market, the Solana blockchain is standing out with its innovative projects. Recently, Phygitals launched a tokenized magazine based on One Piece, leveraging Solana’s technology to reshape digital collectibles. Additionally, growing interest in tokenized AI stocks is drawing attention to the Solana ecosystem, indicating a shift in investment strategies. For more details, see this article. Breaking It Down Solana’s blockchain is at the forefront of innovative ventures, particularly in the realm of digital collectibles. The launch of Phygitals’ tokenized magazine demonstrates the platform’s capacity to support unique ownership experiences, which could redefine how fans and…

In brief The Fed raised its benchmark rate 25 basis points to 3.75%-4% on a unanimous 12-0 vote Wednesday, its first hike since July 2023, after traders priced in a 93% chance of the move. Bitcoin briefly touched $76,499 after the announcement before settling near $76,300, roughly flat on the day as the broader crypto market held above $2.6 trillion. Zcash surged as much as 23% toward $1,425 after Paradigm co-founder Matt Huang disclosed his firm’s $ZEC stake, calling the token “a private complement to Bitcoin.” Bitcoin traded near $76,300 on Thursday, largely unmoved a day after the Federal Reserve…

Neutrl has opened a redemption program whose Ethereum contract pays 0.51 $USDC per NUSD, giving holders an exit at a 49% shortfall to the token’s $1 reference value. The rate is directly visible in Neutrl’s redemption contract: its `redemptionRate()` function returns 510000000000000000, an 18-decimal ratio equal to 0.51. Neutrl said NUSD and sNUSD holders may submit requests, receive $USDC and have the corresponding tokens burned, although its public announcement did not specify the conversion applied to sNUSD. The same NUSD valuation is set to exhaust the first-loss buffer in Strata’s Neutrl market. Strata scheduled an update that, once executed, would…

On Friday, the 11th of September, Ethereum [$ETH] rallied to a high of $2,667. Just four days later, $ETH had undergone an 11.6% retracement back to $2,356. At the time of writing, Ethereum was trading at $2,495 and was once again closing in on the $2,530 local resistance zone. Wednesday’s rate hike decision has given investors reason to pause and reassess their bullish conviction. Further rate hikes to combat inflation would mean a phase of tightening liquidity in the market, making risk-on market losses more likely. The spot Ethereum ETF flows have slowed down in recent days. According to Farside…

Jarrod Patten, a director at Strategy (formerly MicroStrategy), has sold approximately $10.4 million worth of company stock this year, according to data tracked by Bitcoin Treasuries. The sales, executed across 31 transactions, were all tied to stock options granted in 2016 and 2017, before the company’s transformation into a Bitcoin-focused treasury. Background of the Stock Sales The shares sold by Patten were acquired through the exercise of stock options awarded during his tenure when the company was still known as MicroStrategy and operated primarily as a software firm. These options, granted nearly a decade ago, have since appreciated significantly, coinciding…

As Ripple continues to expand the $XRP Ledger infrastructure, facilitating adoption among institutions, the blockchain has continued to see a rapid increase in its holder count. Following Ripple’s persistent push, $XRP Ledger is seeing renewed momentum in its tokenized asset market as the latest data from the real-world asset ecosystem shows that its number of RWA holders has soared by 25.16% over the last month. XRPL RWA infrastructure expands Just a few days ago, Ripple disclosed its new investments in two major companies solely for the purpose of advancing the $XRP Ledger infrastructure to foster institutional adoption of tokenized assets…