🔎 Traditional Finance (TradFi) Highlights:
Ethereum ETF Applications by ARK Invest and 21Shares: ARK Invest and 21Shares have submitted applications for the first-ever Ethereum Exchange-Traded Fund (ETF) in the United States. This ETF is designed to directly invest in Ethereum, the second-largest cryptocurrency, further expanding their portfolio that includes pending Bitcoin and Ethereum futures ETFs, currently awaiting approval from the Securities and Exchange Commission (SEC).
London Stock Exchange Group's Blockchain Initiative: The London Stock Exchange Group is charting a course towards creating an end-to-end digital market ecosystem. Utilizing blockchain technology, this initiative aims to streamline and cost-effectively facilitate capital raising and asset transfers within the financial market.
Partnership Between KEB Hana Bank and BitGo: Major South Korean bank, KEB Hana Bank, has joined forces with cryptocurrency custody firm BitGo to introduce digital asset custody services in South Korea. This strategic partnership will harness BitGo's custody solutions and merge them with Hana Bank's financial acumen and compliance expertise.
Coinbase's Institutional-Focused Crypto Lending Platform: Coinbase, a prominent player in the cryptocurrency arena, is set to launch a crypto lending platform specifically targeting large institutional investors. With a significant backing of $57 million in funding, this platform will provide secured loans to institutional clients, akin to traditional financial prime brokerage services.
DCS Card Centre's Breakthrough on the PlatON Network: DCS Card Centre has marked a milestone by introducing DCS Tokens on the PlatON Network. This pivotal development represents a substantial stride in blockchain-based payment solutions and establishes DCS as the inaugural Singaporean financial institution bridging the realms of Web2 and Web3 ecosystems, aligning with the Monetary Authority of Singapore's introduction of a Single-Currency Stablecoin framework.
