Sygnum Bank’s Post

This article gets to the bare bones of how things were able to go so wrong

Interesting take here in this article about USDT's appeal diminishing compared to other stablecoins over time.   Can't say I necessarily agree with this but likely JPMorgan have said this as a result of USDT competing with their own JPM Coin in the cross-border payments space.   I think while market share of these different payment rails is important, ultimately interoperability between them will likely bring the biggest adoption.   https://lnkd.in/eKuzWYJh..   #crossborderpayments #payments #innovation

Ripple acquires Standard Custody, licensed by the New York Department of Financial Services Ripple announced its interest in Standard Custody earlier this year, citing the trust as key to the planned launch of the stablecoin and for asset tokenisation. Standard Custody & Trust Company is licensed by the New York Department of Financial Services (#NYDFS), which has a stringent approach to the digital assets industry. Ripple has appointed Standard Custody CEO Jack MacDonald as Senior Vice President of Stablecoins. ____________ Ripple's portfolio includes 40 US licences, a licence from the Monetary Authority of Singapore, and a Virtual Asset Service Provider (VASP) registration with the Central Bank of Ireland. In May 2023, Ripple acquired institutional #digitalasset #storage solutions provider Metaco for $250 million. #XRP has a market cap of $26.9 billion. #cryptooutlook #cryptonews #StaibleCoins #finance #payments

02/02 #AICoin Highlight News - Bloomberg: #Binance push to re-enter UK foiled by regulatory challenges. - #Genesis settles #SEC’s earn lawsuit, could pay $21 million penalty if creditors are repaid. - #OPNX to shut down this month, customers were advised to settle their positions by Feb. 7 and withdraw their money by Feb. 14. - #Valkyrie #Bitcoin Fund: Pursuant to agreement, #BitGo will provide custody & safekeeping services for trust's $BTC holdings. - Sources: Regulatory nod for US spot #BitcoinETF options may take months. - U.S. DOJ: #FTX’s missing $400 Million were stolen in SIM-swapping hack. - JPMorgan: #Stablecoin #Tether’s market dominance may jeopardize crypto. - #BlockFi: Has returned over $500 million worth of #crypto, will initiate the next round of fund returns. Focus on - The United States releases January non-farm payroll data. #NFP - #GameStop ceases operations.

Sygnum Bank, with 20+ banks onboarded, now enables regulated crypto services for a third of the Swiss population. Fritz W Jost, Chief B2B Officer, Sygnum Bank, says:   “The introduction of multiple Exchange-Traded Funds (ETFs) for spot Bitcoin and Ethereum has played a prominent part in legitimising the two leading digital assets—bolstering investor confidence in the broader asset class. Robust regulatory frameworks have also ensured higher standards of security and compliance, paving the way for further integration of regulated digital asset services into the mainstream financial system. Through our growing network of B2B partners, Sygnum is now poised to broaden and accelerate this trend through its trusted, regulated platform.”   Read the full announcement here: https://lnkd.in/dU3C4U8G Mathias Imbach, Fritz W Jost, Thomas Eichenberger, Dom Castley MBA MCIM, Martin Jost, Simon Kühne, Dominic L., Andreas Koch, Francisco Ardisson de Freitas, Stefan Graf, Juan Corallo, Sandro Germann, Jorge Vargas, Laila Alam, Peter Hardi, Christian S., Berker A., Sai Agnikhotram, Dominik Waligora, André Ulbers, Thomas Brunner, Thibault D., Abel Gopalakrishnan, Khashayar Arman, Rahul Dey, Kleber G., Kharin H., Mateusz Stępień, Ana Bartnykiene Alexander Thoma, Evrard Bordier, Hanspeter Rhyner, Marc Weber, António Henriques ▪️ 韩瑞安, Luca Venturini #bitcoin #ethereum #crypto Disclaimer: https://bit.ly/4edJA1v

#CoinbaseGlobal Inc (NASDAQ:COIN) CEO Brian Armstrong criticized JPMorgan Chase's recent decision to block cryptocurrency-related transactions in its UK digital banking subsidiary, Chase UK. Armstrong expressed concern about private companies having the power to "de-platform" the crypto industry and called for government intervention and regulation to address the issue. The Coinbase CEO emphasized the importance of a clear regulatory framework for crypto businesses in the UK and urged government officials to review Chase UK's decision. Chase UK had notified its customers that it would block cryptocurrency transactions starting October 16, citing concerns about increasing fraud and scams associated with cryptocurrencies. This move aligns with similar restrictions implemented by other UK financial institutions like NatWest and HSBC. More at #Proactive #ProactiveInvestors #NASDAQ #COIN http://ow.ly/fSma104W7Pk

Anchorage Digital Bank recently added custody support for 15 new assets: API3 (API3), Biconomy (BICO), Cronos | Cronos Labs (CRO), DIMO (DIMO), Ethena Labs USD (USDE), Fetch.ai (FET), Golem Network (GLM), IoTeX (IOTX), Mask (MASK), Merit Circle Beam (BEAM), Polymath (POLY), Shiba Inu (SHIB), Storj (STORJ), Superstate Short Term U.S. Government Securities Fund (USTB), and ether.fi Wrapped eETH (WEETH). As the only federally chartered crypto bank and an unambiguous qualified custodian, our clients benefit from the highest standard for institutional crypto custody, including: 🛡 Bankruptcy protections and segregated assets 🏦 Regulatory compliance  🔒 Keys stored in air-gapped hardware security modules 🚫 Elimination of single points of failure 🪙 Staking directly from regulated custody Learn more about our broad and growing list of supported assets: https://lnkd.in/gyMTSttt

During this EthCC season, our content team took the opportunity to write about an often overlooked topic: payment abstraction. Everyone talks about #AA, #ERC4337, and smart contract #wallets, but let's change the subject slightly. In essence, payment #abstraction aims to simplify transaction processes by handling fees and making payments more user-friendly. In this piece, we dive deeper into both concepts, list the most important players leveraging payment abstraction, and more. Check it out 👇

JPM Coin, the digital token from banking giant JPMorgan, is making waves in the financial world. According to Bloomberg, the coin now processes an astounding $1 billion in daily transactions. Originally launched in 2019, JPM Coin has rapidly become a go-to choice for JPMorgan's institutional clients looking to conduct seamless blockchain-based payments worldwide. While it primarily transacts in U.S. dollars, the coin has expanded its support to include euros. And that's not the end of the story, as JPMorgan plans to further broaden the token's usage. https://lnkd.in/dsfybV7G

Excited to announce that we have partnered with finnova AG Bankware, Wyden, and Fireblocks - creating an integrated digital asset trading and custody service. This is more than just a partnership; it's a leap forward in crypto banking. Key Highlights: 🔸 Seamless Integration: Our collaborative effort with Finnova, Wyden, and Fireblocks has produced a groundbreaking solution, simplifying digital asset trading and custody. 🔸 Unmatched Automation & Security: We've set new standards in automation and risk management, enhancing the efficiency and safety of institutional crypto trading. 🔸 Innovative Proof-of-Concept: The joint Proof-of-Concept underscores our dedication to leading innovation in the institutional adoption of digital assets. This collaboration is not just about bringing new technologies to the table; it's about shaping the future of how financial institutions engage with digital assets. Our combined expertise in trading, risk management, and digital asset trading has created a platform that stands unrivalled in the market. Read more here: https://lnkd.in/dcpwn53M #digitalassets #cryptobanking #innovation #SCRYPT #Finnova #Wyden