Blockchain Press Releases
Cultivated Chicken Has Been Approved in the USA – IDTechEx Examines What’s Next for the Cultured Meat Industry
BOSTON, June 23, 2023 /PRNewswire/ — The cultured meat industry passed a key milestone in June 2023 – two companies, GOOD Meat and UPSIDE Foods, received approval to begin the commercialization of their cultivated chicken products in the USA. Cultivated meat, or cultured meat, refers to meat products produced from lab-grown animal cells and is proposed as a solution for some of the environmental and ethical issues associated with meat consumption. IDTechEx have been following the cultured meat industry for the past four years, and in its most recent report, Cultured Meat 2023–2043, forecasts the market to exceed US$13 billion by the year 2043. So, with this key milestone of US regulatory approval achieved, what is next for the industry over the next few years?
Small Scale Launches
To start, both GOOD Meat and UPSIDE Foods are looking at small-scale launches in the US. GOOD Meat has partnered with Chef José Andrés, who will first be serving up GOOD Meat’s cultivated chicken in Washington, DC. UPSIDE Foods has similarly partnered with three-Michelin-star chef Dominique Crenn and will be launching in San Francisco.
This echoes GOOD Meat’s launch in Singapore, where cultured meat has been approved and commercialized since December 2020. In Singapore, GOOD Meat launched with a hybrid product (a blend of plant-based and cultured protein) which was available at a single restaurant, the 1880 Members Club. By 2023, the company has scaled up the amount of cultured meat in their products and featured them at various restaurants. While availability remains limited, the company is on its way to scaling up production further on the island.
IDTechEx predicts that the availability of cultured meat will continue to be limited in the next 2 years. On the production side, companies are still scaling up their manufacturing capabilities and are yet unable to supply large amounts to the market. On the demand side, it is unclear how much of a premium customers are willing to pay for cultivated meat vs. conventional meat. Launching cultured meat at high-end restaurants has been the main strategy companies have used to address this price differential.
Expansion Into Other Markets
With the approval by the USDA in June, the US joins Singapore as the only other country where cultured meat is approved and commercialized. Looking to the horizon, IDTechEx predicts that the next country to approve cultured meat will be in Asia, with South Korea and China being the key contenders. Despite the Netherlands being the home of the world’s first cultured beef burger in 2013, regulatory approval in Europe is unlikely to be next. While tasting cultured meat products is allowed in select European countries, companies will need to secure regulatory approval at the EU level first for commercialization. This is a long and lengthy process.
Scaling Up and Driving Costs Down
Further work is required by the cultured meat industry and its entire supply chain to address the problem of scaling up production. A key component for producing cultured meat, the growth media, is currently the main contributor to its high cost. Today, companies use high-end ingredients meant for the pharmaceutical industry, where quantities are small and products are extremely high-value. Work is underway from multiple angles to address this issue, including decreasing the amounts required for meat production, creating food-grade ingredients at lower cost, and designing new bioreactors allowing for a higher density of cells per volume of growth media.
It will be a long road for the cultured meat industry to take substantial market share from conventional meat, with the recent approval in the US being just the first step. IDTechEx sees the cultured meat market accelerating by the start of the next decade as more and more start-ups receive regulatory approval and commercialize over the next few years.
For more information on the cultured meat industry, please refer to the IDTechEx report at www.IDTechEx.com/culturedmeat.
About IDTechEx
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com.
Media Contact:
Lucy Rogers
Sales and Marketing Administrator
[email protected]
+44(0)1223 812300
Social Media Links:
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LinkedIn: www.linkedin.com/company/IDTechEx
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View original content:https://www.prnewswire.co.uk/news-releases/cultivated-chicken-has-been-approved-in-the-usa–idtechex-examines-whats-next-for-the-cultured-meat-industry-301860844.html
Blockchain Press Releases
Purchasers of Quantstamp QSP Tokens May Be Eligible for Payment from the Quantstamp Fair Fund
COSTA MESA, Calif., Jan. 22, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., the SEC-appointed Fund Administrator.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of Quantstamp, Inc.
Administrative Proceeding File No. 3-21535
This Notice is Pursuant to a Distribution Plan approved by the United States Securities and
Exchange Commission in the captioned matter.
If you purchased or acquired Quantstamp QSP tokens from October 1, 2017, through July 20, 2023, inclusive, you may be eligible for a distribution from the Fair Fund created in the Securities and Exchange Commission (“SEC”) administrative proceeding captioned above (the “Fair Fund”).
The Fair Fund is being distributed pursuant to a Distribution Plan (the “Plan”) approved by the SEC. The Plan provides for the distribution of the Fair Fund to compensate investors based on their losses, due to the misconduct of Quantstamp, Inc. described in the SEC’s administrative proceeding, on the purchase of QSP tokens from October 1, 2017 through July 20, 2023. You can view and download a copy of the SEC’s order and the Plan on the Important Documents tab on the website for this matter: www.QuantstampFairFund.com/documents.
To be considered for eligibility for a Distribution Payment from the Fair Fund, you must timely submit a completed Claim Form online or via mail. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time (“EST”) on April 10, 2025. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, received) by April 10, 2025.
You may complete the Claim Form online here: www.QuantstampFairFund.com/form/claim. Alternatively, you may download a paper copy from of the Claim Form on the Important Documents page www.QuantstampFairFund.com/documents, or request a copy of the paper Claim Form from the Fund Administrator via email at [email protected] or by calling 833-215-6101, for submission by mail to the address set forth on the Claim Form.
ADDITIONAL INFORMATION
Additional information regarding the Fair Fund, including copies of the Plan, the Plan Notice, the Claim Form, and other relevant documents may be found at www.QuantstampFairFund.com. You may request copies or seek additional information by contacting the Fund Administrator.
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833-215-6101 |
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Write: |
Quantstamp Fair Fund |
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Fund Administrator |
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P.O. Box 25381 |
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Santa Ana, CA 92799 |
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain Press Releases
HTX Ventures: RWAFi and Stablecoin Payments Set to Dominate the Evolving DeFi Landscape
SINGAPORE, Jan. 22, 2025 /PRNewswire/ — The DeFi landscape has undergone a dramatic transformation since the “DeFi Summer” of 2020. With Donald Trump assuming office as the President of the United States, a new era of growth for DeFi is emerging, characterized by deeper integration with traditional finance.
HTX Ventures, the global investment division of HTX, has released a forward-looking report titled “A New Era for DeFi with Crypto Compliance and New Opportunities in RWA-Fi and Stablecoin Payments.“ This report analyzes the evolving environment of crypto trading in 2025, focusing on the significant opportunities and challenges RWAFi and stablecoin payments are facing.
Changes in the Crypto Trading Environment Favor Stablecoins and RWAs Prospects
The gradual easing of crypto regulatory policies is facilitating greater institutional investor participation within the crypto ecosystem. This shift has seen stablecoins and RWAs (Real-World Assets) emerge as crucial bridges connecting the traditional finance and decentralized finance worlds.
Data shows a remarkable surge in stablecoins usage in blockchain transactions, which has risen from 3% in 2020 to over 50% by the end of 2024. The core value proposition of stablecoins lies in their ability to facilitate seamless cross-border payments, making them strategically important in international trade.
The report underscores the immense potential of stablecoins, stating, “At present, the global cross-border B2B payments market processed through traditional channels is valued at approximately $40 trillion, while the consumer remittance market generates hundreds of billions of dollars in annual revenue. Stablecoins offer a new alternative for efficient cross-border payments via crypto channels. As the adoption gains momentum, stablecoins are set to penetrate and disrupt this market segment, becoming a key player in the global payments landscape.”
Furthermore, the U.S. House Financial Services Committee is actively preparing to introduce a stablecoin bill, which has the potential to be the first comprehensive crypto legislation passed by Congress. This legislation could drive widespread adoption of crypto wallets, stablecoins, and blockchain-based payment channels among traditional banks, enterprises, and individuals. Notably, several prominent traditional financial giants, including PayPal and Stripe, have already initiated active exploration within the stablecoin sector.
The RWA market saw positive growth during the recent bear market cycle, primarily driven by its stable returns. Unlike cryptocurrencies, the value of RWAs remains largely unaffected by the inherent volatility of the crypto market, a crucial characteristic for building a robust DeFi ecosystem. Industry leaders like Binance project that the RWA market could expand to $16 trillion by 2030. This immense market potential has driven companies like BlackRock and Tether to explore tokenized assets, leading to the emergence of compliance tools for RWA token issuance, such as Securitize.
Opportunities and Challenges for DeFi Projects
As stablecoins and RWAFi emerge as the cornerstones of the evolving DeFi landscape, project teams are tasked with developing innovative products tailored to the new environment and demands. While challenges are inevitable, these transformative shifts also unlock numerous opportunities.
In terms of realizing the vision of yield-generating stablecoins, the report identifies two prevailing market trends:
- Treasury-backed Stablecoins:
This approach involves utilizing the U.S. Treasury bonds as the underlying assets for stablecoins, effectively introducing traditional financial assets onto the blockchain through tokenization. This methodology preserves the stability and low-risk nature of Treasury bonds while seamlessly integrating the high liquidity and composability inherent to DeFi. Examples include USDY by Ondo Finance and a range of Treasury-backed Vault products from OpenTrade.
- Volatility-driven Yield:
The alternative approach leverages crypto market volatility and MEV to generate low-risk returns. Ethena, along with its native stablecoin USDe, serve as a prime example of this strategy.
Seamlessly integrating DeFi applications with RWAs presents another critical challenge for project teams. On one hand, the inherent stability of RWAs can effectively mitigate risk in DeFi applications. Collateralized Debt Position (CDP) stablecoins, such as Curve’s crvUSD, are increasingly incorporating RWAs as collateral to enhance their stability. On the other hand, the flexibility of DeFi can significantly boost the utilization rate of tokenized RWAs. Pendle’s newly introduced RWA section, boasting a current TVL of $150 million, exemplifies this synergy. Leveraging the composability of DeFi Lego, Pendle’s diverse yield-generating assets can offer highly attractive APYs, incentivizing users to invest in RWA stablecoins.
Emerging DeFi projects still possess significant untapped potential within niche sectors, such as addressing defaults scenarios within the private credit market within RWA domain and effectively leveraging RWA public chains to empower institutional finance. Looking ahead, the report suggests that on-chain forex, cross-border payment stacks, and multi-pool stablecoin aggregation platforms are among the promising development directions in the “New DeFi” era.
About HTX Ventures
HTX Ventures is the global investment arm of HTX, integrating investment, incubation, and research to identify and discover the best and most innovative projects in the market. Visit us here.
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View original content:https://www.prnewswire.co.uk/news-releases/htx-ventures-rwafi-and-stablecoin-payments-set-to-dominate-the-evolving-defi-landscape-302357287.html
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