Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights 🧵:
1/ Mastercard's Multi-Token Network (MTN) has partnered with JPMorgan's rebranded Kinexys Digital Payments to improve B2B cross-border payments by offering greater transparency and faster settlement. This integration allows mutual customers to settle transactions through a single API, enhancing the efficiency of digital global commerce. The collaboration aims to leverage tokenized bank deposits, stablecoins, and CBDCs, with plans to introduce on-chain foreign exchange capabilities by early 2025.
2/ Anchorage Digital has announced support for Bitcoin staking on the Babylon protocol, allowing institutions to participate in staking as Babylon expands its capacity with the Cap-3 launch. This development enables BTC to be staked natively on the network, offering Proof-of-Stake (PoS) security and staking rewards. Anchorage Digital provides a secure and compliant gateway for institutions to engage in this innovative digital asset opportunity.
3/ Securitize and Elixir have launched DeFi vaults for BlackRock's tokenized money fund, BUIDL, allowing holders to earn interest from U.S. Treasury bills while accessing DeFi opportunities. The initiative uses Elixir's deUSD RWA Institutional Program to enhance yield opportunities for over US$1B in real-world assets. The DeFi vaults, based on Ethereum's ERC-4626 standard, enable seamless access to DeFi using deUSD as the primary currency. This development unlocks significant liquidity, allowing BUIDL holders to mint sBUIDL tokens and participate in DeFi while continuing to earn underlying yields.
