Blockchain
Bosonic announces the launch of the Bosonic Cross-Custodian Net Settlement Working Group with leading digital assets custodians
Bosonic, a decentralized Financial Market Infrastructure (dFMI) business has today announced the formation and launch of the Bosonic Cross-Custodian Net Settlement (CCNS) Working Group with several of the industry’s leading digital asset custodians, exchanges and banks.
The industry group will be spearheaded by Bosonic and will include a worldwide network of digital asset custodians such as First Digital in Hong Kong, Tetra Trust in Canada and Vast Bank in the United States, with other custodian banks as well as major financial institutions and exchanges participating and soon to be announced.
This is an industry first to include a range of institutional custodians from around the world undertaking net settlements and payments for digital assets and fiat via a layer-2 blockchain. The Working Group will help establish the protocol and best practice between custodians around the world on the Bosonic Network™ as part of the launch of Bosonic’s Cross-Custodian Net Settlement platform, which has been developed to:
- Support institutional cross-custodian trading and payments with net settlement calculations and movements
- Atomic burn and reallocation of netted quantities on Layer-2 blockchain together with physical movement of residual quantities for digital assets and fiat currencies on Layer-1 Smart Contracts
- Assess benefits of interoperability with relevant stablecoins for the fiat residuals
Rosario Ingargiola, Bosonic CEO said, “As an industry first, and as the only custodian-agnostic payment versus payment settlement network on a working layer-2 blockchain, we are excited to further collaborate with a growing network of partners and clients across the world as we roll-out Cross-Custodian Net Settlement. The adoption of the Bosonic Network™ continues to go from strength to strength as the industry looks to eliminate counterparty credit and settlement risk.”
Vincent Chok, CEO of First Digital responded, “We’re pleased to announce our collaboration with Bosonic as we work together to break down silos and enhance coordination with institutional-grade partners across regions. We’re looking forward to working together to further develop the strength, quality and robustness of digital asset infrastructure as we help bridge the worlds of traditional and digital finance.”
“One of our core promises to customers is that we are embracing constant change, and the establishment of this group signifies that we are building on that commitment to innovation,” said Brad Scrivener, CEO of Vast Bank. “We’re proud to be supporting institutions by working to increase liquidity, standardization, and security with digital assets.”
The Bosonic Network™ is a best-in-class and unique infrastructure for institutional clients, connecting to exchanges and market makers, and enabling a payment versus payment atomic swap for instantaneous settlement on a layer-2 blockchain operated by digital asset custodians.
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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