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Gate.MT CEO Advocates For Accelerated Web3 Adoption In Italy

According to PANews, on September 21, during the CryptoRoma conference in Rome, Gate.MT CEO Giovanni Cunti delivered a keynote speech urging the acceleration of Web3 technology adoption in Italy. His call to action sparked lively discussions and positive responses among attendees. In his speech, Cunti reviewed the 15-year development history of Web3 technology, highlighting the significant opportunities and innovation potential within Rome's emerging Web3 ecosystem. He engaged with the audience on the progress of local Web3 projects and shared his insights on how Italy can lead in this global transformation wave. “I am pleased to see the growing interest in Web3 technology in Italy,” Cunti stated. “By sharing knowledge and enhancing collaboration, we can expedite the adoption process of Web3, stimulate more innovation opportunities, and drive economic growth in Europe.” Gate.MT aims to continue playing a crucial role in Europe, leading the wave of innovation in the Web3 sector. Cunti added, “Although the current adoption rate of Web3 is not high, its development potential is considerable.” Gate.MT focuses on providing secure and compliant services, dedicated to advancing and leading the Web3 ecosystem across Europe. Under the upcoming Markets in Crypto-Assets (MiCA) regulatory framework, Gate.MT is actively preparing to expand its operations across the European Economic Area, with a strong emphasis on compliance and security. Gate.MT has been registered in Italy since February 2024 and has held MFSA regulatory approval in Malta since 2018. Cunti previously mentioned that Gate.MT is “fully committed to ensuring smooth compliance with MiCA regulations.” Disclaimer: This content is for informational purposes only and does not constitute investment advice or an offer, solicitation, or recommendation of any products or services. Always seek independent professional advice before making any investment decisions. The products and/or services mentioned in this article may not be available in your country or region.
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Audius Introduces Stablecoin Payments For Artists

According to Cointelegraph, the music industry has been proactive in adopting emerging technologies at the intersection of Web3 and culture. Audius, a decentralized, community-owned, and artist-controlled music-sharing and streaming service, has announced that artists can now be directly paid for their content via stablecoin. This marks a significant development in the integration of Web3 into the music industry. On September 25, Audius announced the successful completion of its private beta phase, which began in November 2023. This update allows artists on the platform to have full control over their pricing and enables them to receive payments in USD Coin (USDC). Fans can use their credit cards to pay artists directly in USDC, and artists can then convert the stablecoin into any currency of their choosing. Additionally, the rollout introduces a community revenue-sharing model, where 10% of each payment will be directed to the Audius community treasury. Governance decisions will determine how these funds are allocated in the future. Audius co-founder and CEO Roneil Rumburg expressed enthusiasm about the platform’s flexibility, noting that artists have already used it to create innovative opportunities. For example, Kato On The Track, an early adopter and beta user, successfully leveraged the marketplace to sell downloads and beats, generating revenue outside traditional streaming models. Rapper MadeinTYO also used Web3 tools on the Audius platform to engage with his community by hosting a contest, allowing him to maintain greater control over his music while fans used his stems to create their own songs. Independent labels like DistroKid, EMPIRE, and Ninja Tune have already signed onto the platform, enabling their artists to capitalize on its features. Moreover, Audius recently secured licensing agreements with major performing rights organizations such as Kobalt, ASCAP, BMI, and SESAC, which could further legitimize its role within the broader industry. Earlier this year, Cointelegraph conducted a one-on-one interview with Rumberg, where he shared his vision of a future music industry that is fully decentralized, community-driven, and embracing AI. In June, Cointelegraph also interviewed several musicians who have been actively using Web3 tools to broaden their reach and enhance their experience as artists. While platforms like Spotify and Apple Music have long dominated the streaming market, the rise of decentralized solutions like Audius could slowly challenge these business models.
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US Lin Group Announces Blockchain Platform Launch at Kuala Lumpur Expo

According to BlockBeats, during the 6th Kuala Lumpur Expo on September 25, Mr. Lin Jianzhong, Chairman of the Board of Directors of the US Lin Group, announced the group's plan to establish a compliant blockchain trading platform through its subsidiary, Great East Asia Bank. This move marks the group's official entry into the Web3, Metaverse, and AI sectors. Mr. Lin stated, 'Blockchain technology and its derivative Web3 ecosystem will bring revolutionary changes to the traditional financial industry.' The US Lin Group intends to utilize its hotel assets' RWA (Real World Asset Tokenization) to create an innovation fund, incubating AAA-level Web3 blockchain games such as Infinitar and RuneSoul, and further expanding into new financial fields to achieve asset securitization and global listing. The compliant blockchain trading platform is a core part of the US Lin Group's strategic layout, providing investors with a secure and transparent trading platform to ensure the compliance of Web3 and digital assets. By adopting the RWA model, the group will digitize its hotel assets, unlocking asset liquidity and providing continuous funding support for the innovation fund, thereby promoting the development of future Web3 and technology projects. Great East Asia Bank has extensive experience in financial technology, and this foray into the blockchain and Web3 sectors is a significant step for the US Lin Group in keeping with technological innovation trends. Additionally, the US Lin Group will host the 'Tech Innovation Oscar Conference' in the United States in October, further driving global technological innovation and bringing significant opportunities to the industry.
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Siemens Utilizes Blockchain for Tokenized Commercial Paper Settlement

According to CoinDesk, German industrial giant Siemens AG has utilized JPMorgan's blockchain-based payment system Onyx and SWIAT's private blockchain to issue and settle a tokenized version of its commercial paper. The companies announced on Monday that Siemens issued €100,000 worth of crypto securities under the German Electronic Securities Act (eWpG) on September 13 and redeemed it three days later. The payments were conducted on the Onyx network using the JPM Coin System, while asset transfers were settled on the SWIAT network's delivery-versus-payment (DvP) mechanism.The entire process took 93 seconds from the confirmation of the trade by the parties on SWIAT to the final confirmation of settlement, indicating that asset and payment transfers were completed. DekaBank also participated in the transaction, acting as a regulated crypto securities registrar on the SWIAT network. This transaction marks the beginning of a collaboration between Onyx and SWIAT to develop asset issuance products on blockchain rails for commercial banks. Their goal is to shorten value chains, increase transaction flexibility and speeds, and ultimately make financial transactions via blockchain rails scalable for commercial banks.Tokenization of traditional financial instruments, or real-world assets (RWA), has been a rapidly growing area for blockchain technology, with significant involvement from major banks. JPMorgan has been a leader in this space with Onyx and its JPM Coin blockchain-based settlement technology. Transactions with JPM Coin have surged after introducing programmability to the network, reaching multiple billions of U.S. dollars on some days, according to Umar Farooq, head of Onyx by JP Morgan, during a panel discussion at Consensus 2024. JPMorgan CEO Jaime Dimon, while acknowledging the bank's extensive use of blockchain, has been critical of cryptocurrencies, referring to them as "pet rock" on multiple occasions.
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