Blockchain
DigiFT Launches Decentralized Security Token Exchange
DigiFT has successfully listed a one-month security token issued by Diners Club (Singapore) Private Limited (“DCS”) on August 1st, 2022. It is the first launch of a regulatory-compliant security token on a public chain (Ethereum) with an Automatic Market Maker (AMM) liquidity pool.
Unlike a conventional exchange, the AMM automatically provides sufficient market liquidity without requiring active market makers to list buy and sell orders. With AMM, liquidity providers contribute their security tokens into liquidity pools managed by a smart contract and earn commissions when traders swap the security tokens.
DigiFT, founded in 2020 by Wanli Li and Henry Zhang, is striving to be the first regulated decentralized security trading exchange and is currently operating in the Monetary Authority of Singapore’s FinTech Regulatory Sandbox (“Sandbox”) as an exempt Recognised Market Operator with a Capital Markets Services Licence. The blockchain-based exchange is the first decentralized finance trading platform admitted into the Sandbox. It facilitates the primary offering and secondary trading of security tokens backed by financial assets. As a result, investors can trade directly from their digital wallets after completing a know-your-client onboarding process.
DCS is a franchisee of Diners Club International Ltd., a direct banking and payment services company owned by Discover Financial Services, one of the most recognized brands in U.S. financial services. The company has a cardmember base of approximately 250,000 in Singapore as of June 2022.
Mr. Henry Zhang, the CEO of DigiFT, shared, “The completion of the maiden security token offering on our decentralized exchange is a major milestone. Our clients now are the first in the world that can trade real-world assets on a public blockchain. We enable companies to access an alternate source of capital and provide secondary liquidity for investors simultaneously. It showcases our team’s technology and financial expertise while highlighting the value proposition of blockchain technology when applied to finance in a regulatory-compliant manner.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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