*What Happened In The Crypto Market This Week?*
*The MAS Aims to Strengthen Asset Tokenization*
This week, the Monetary Authority of Singapore (MAS) made a key step in promoting asset tokenization. The central bank announced ambitions to expand its tokenization operations in the financial services sector. The establishment of market infrastructure and settlement methods to support the usage of tokenization is a key component of this strategy. Under Project Guardian, the MAS has already built connections with over 40 global financial institutions and policymakers, establishing Singapore as a global leader in digital finance.
*Solv Protocol Locks Over 25,000 BTC*
Solv Protocol has reached a new milestone, by locking in over 25,000 Bitcoins. With Bitcoin’s recent all-time high (ATH), the total value locked (TVL) on the platform has exceeded $2 billion. The Solv Protocol’s Staking Abstraction Layer has played a pivotal part in this increase by standardizing the Bitcoin staking procedure.
*Binance Lists New Tokens: $COW and $CETUS*
On November 6th, the Binance exchange announced the launch of two new tokens: Cow Protocol ($COW) and Cetus Protocol ($CETUS). The Cow Protocol, recognized for its permissionless trading structure, experienced an immediate 84% increase and reached a price of $42.1 million.