An overview of the most fascinating stories about cryptocurrencies like Bitcoin, Ethereum, and Tether every day to get you through the day.
GREAT STORY
Aiming to obtain a license for digital asset custody, Deutsche Bank Enters the Crypto Space
In publicly asking regulatory authority to offer custody services for cryptocurrencies and other digital assets, Deutsche Bank AG has taken aggressive moves toward joining the field for digital assets.
FINANCIAL FUTURE
Bernstein Highlights $5 Trillion Tokenization Market as Potential
According to a new research analysis by Bernstein, tokenization, a process by which real-world assets are converted into blockchain-based tokens, might unleash a massive market potential of $5 trillion during the next half-decade.
The analysis, which was published on Tuesday, stressed that stablecoins, central bank digital currencies (CBDCs), stocks, private market funds, and real estate may be the driving forces behind this accelerated expansion.
JAPAN
Japan’s Crypto Exchanges Fight for Margin Trading Freedom
Despite the turbulent collapse of the global digital asset market last year, cryptocurrency exchanges in Japan are fighting for the loosening of regulations on margin trading.
According to the Japan Virtual & Crypto Assets Exchange Association, a sizable number of industry experts are calling for allowing retail investors to use leverage of up to ten times their initial investment. At present, investors can only increase exposure by doubling their borrowing.
Vice Chairman of the organization Genki Oda stated, “Reforming the leverage rule could make Japan more attractive for crypto and blockchain companies.”He further asserted that the modification will stimulate trade.
BINANCE
For a better user experience, Binance is taking decisive action to integrate the Bitcoin Lightning Network.
Binance, a prominent cryptocurrency exchange, has revealed that it is integrating the Bitcoin Lightning Network to speed up payments and withdrawals.
The news was revealed via a tweet from Binance, which also verified that some users have already witnessed the emergence of additional Lightning nodes.
« Recently, several sharp-eyed users discovered our new lightning nodes. That is indeed us! There is still more technical work to be done, though. When Lightning is completely integrated, we’ll provide an update, Binance said in a tweet.
The groundbreaking « second layer » technology known as the Bitcoin Lightning Network runs on top of the Bitcoin network.
It is especially made to massively accelerate transaction speed while also easing network congestion. Here is the complete report.
Payment Provider in Australia
Cuscal, an Australian payment provider, imposes new crypto restrictions, which is criticized by one industry body.
Cuscal has taken steps to impose new limits on cryptocurrency transactions, which has caused consternation within the sector.
A significant industry organization, Blockchain Australia, has expressed its disapproval of the move and the necessity for a reasonable course of action.
As economic instability increases, so does the likelihood of scams and fraud, according to Blockchain Australia’s chair and renowned lawyer for digital assets, Michael Bacina.
Australians have a right to anticipate that the companies they do business with will contribute to the effort to solve this issue, but they also have a right to unrestricted use of their money and assets. The expenses of protection must be appropriate to the benefits they provide, which calls for evidence-based decision-making, according to Bacina.
GEMINI
Gemini Plans a Monumental Crypto Expansion with an Eye on Asia-Pacific
In order to increase its worldwide reach, New York-based cryptocurrency exchange Gemini has its sights set on the Asia-Pacific (APAC) area.
The exchange sees this area as a driving force behind the development of the cryptocurrency industry in the future.
In a blog post, the business expressed its enthusiasm, writing, « We are excited to announce our expansion plans in APAC as Gemini’s leadership team recently visited the region on their global odyssey to propel the promise of crypto. »
Gemini’s overseas expansion appears to be part of a larger strategy to diversify its business beyond the US, especially in light of the increased regulatory scrutiny that US cryptocurrency exchanges have been subjected to this year.
EDX MARKETS
EDX Markets: Elevating Institutional Crypto Trading
With the support of major financial institutions including Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp., EDX Markets, a cryptocurrency exchange designed solely for institutional investors, has debuted.
This discovery has the potential to completely change the Bitcoin market, especially now that US regulatory bodies are paying more attention to it.
EDX Markets has started trading in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The company made its debut announcement in September 2022.
EDX Markets’ « non-custodial » concept distinguishes it from well-known cryptocurrency platforms like Coinbase Global Inc. and Binance Holdings Ltd. According to Jamil Nazarali, CEO of EDX Markets, the exchange doesn’t have client coins on hand while they are being traded.
MARKET REPORT
Following BlackRock’s ETF filing, Bitcoin surpasses the $28,000 mark.
A noteworthy event is that Bitcoin has significantly increased, topping $28,000 for the first time since May 29. The largest cryptocurrency in the world by market capitalization, as measured by CoinMarketCap, increased 4.7% over the previous day to reach $28,016 as of 4:05 pm in New York.
The market’s upbeat outlook following asset management BlackRock’s recent application for a bitcoin exchange-traded fund (ETF) has been blamed for the recent increase in Bitcoin’s value.
Other Bitcoin-related investments have also been impacted by BlackRock’s filing, with Grayscale’s Bitcoin Investment Trust seeing a remarkable 400% increase in trading activity.
