SGSS, arching, Rapid And Nasdaq fashionable token; Not finally covers NFT And stable coins algorithmic; Kaiko actor in the institutionalization of crypto; XRP he soon fixed on his fate … again on thenews of the week.
The institutions of the traditional finance “They need a trusted and responsible third party who can provide them with a reference price,” Elodie de Marchi, COO of Kaiko, told Coins.fr this week. These TradFi players need too quality and real-time datathat the French startup provides them.
Because the sector, from its global financial hubs, is in full transformation through the adoption of the blockchain and some resource tokenization. There have been many illustrations of this mutation this week. And this convergence between TradFi, CeFi And Challenge it’s just the beginning.
Société Générale: one step closer to cryptocurrencies
In France, two banking groups stand out for the adoption of cryptocurrencies. These are BNP Paribas and General Company. The second made a major announcement in this area. Its subsidiary Société Générale Securities Services (SGSS) has launched services for management companies looking to introduce cryptocurrency-focused funds.
Its first official client is Arquant Capital, a management company specializing in cryptocurrencies. This week, he put it on the market two regulated funds directly exposed to Bitcoin and Ethereum. This is the first time in France. And therefore Arquant relies on SGSS, which takes on the role of custodian of the fund, evaluator and responsible for responsibility.
Cryptocurrency and blockchain news from traditional financial institutions he was particularly rich this week. The American stock market Nasdaq presented Nasdaq Digital Assets. Its new entity will offer cryptocurrency-focused services to cheaters, starting with custody. The Japanese bank Nomura has established a cryptocurrency branch in Switzerland. And finally, Rapid explore the uses of the blockchain with Symbiont.
Jesse Powell has returned from the Kraken
Notable change at the head of the exchange kraken. Jesse Powell is no longer its CEO. He relinquishes his seat to the company’s chief operating officer, Dave Ripley. Powell, however, does not retire. He in fact he takes Chairman of the board of directors of the cryptocurrency exchange.
By entrusting his number two with the management of current affairs, Powell particularly wishes spend more time on products marketed by Kraken. And the former CEO believes Dave Ripley is the ideal person to lead the exchange in its next era of growth.
CBDC euro: Amazon creates a stir
With the DMA and the DSA, two European regulations, its institutions strive to limit the dominance of the big American platforms. Yet it is one of them that the ECB as part of his experiments in terms of central bank digital currency (CBDC). By selecting Amazon, the ECB arouses amazement, even hostility, on social networks.
For designing user interfacesdigital euro, the ECB has selected partners. In terms of e-commerce payments, it is therefore the world number 1 in the sector to participate: Amazon. However, Europe has big names in e-commerce, but none the size of Gafam is true.
XRP, a clear sky?
The debates went on long enough. It is time for justice to make a decision on the dispute between the DRY And Ripple. Both sides vote for a preliminary judgment to decide on the qualification of the XRP : safety Where is it cryptocurrency.
The possible imminence of this outcome does not leave investors indifferent. the XRP price has seen a very strong increase this week. However, this volatility poses a risk. The buying activity is driven solely by Ripple news. The value of the token could decrease just as quickly. And even more so if justice were to decide against XRP.
MiCA: a text in the starting blocks
Since the provisional agreement at the end of June, the European authorities have worked on drafting the final text of the MiCA, its cryptocurrency regulation system. The document would now be finalized. And some notable changes are worth noting. The legislator seems to have taken into account art rapid evolution of digital assets.
To prevent the obsolescence of the MiCA, it voluntarily granted a margin of interpretation in its application. In addition, the project now plans to include the algorithmic stablecoins – or any other form of stablecoin that could see the light of day. In addition, Europe has taken note of the emergence of Divide NFT, which actually fall into fungible tokens and finance. NFTs will therefore not be exempt from any regulation in Europe.
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