October 29

“A dedicated mobile DApp browser is kicking down the mobile door for developers, allowing web-based blockchain applications to work on mobile with a simple SDK integration. Users will no longer need access to a desktop or laptop to make cryptocurrency payments since they will be able to use the applications right from their phones.

Support for legacy applications means developers can easily incorporate blockchain into any existing app. This ultimately allows users to make payments in cryptocurrency in their favorite applications – whether it’s buying a coffee, purchasing in-game items, or subscribing to app services.

With the integration of Ledger, users now have even more options for storing their private keys.”

“Ledn users will soon be able to lock up their bitcoin and spend DAI at 750 merchants across Colombia, Venezuela, Argentina and Brazil, connecting bitcoin users with ethereum’s decentralized finance (DeFi) ecosystem.

This new partnership was driven by customer demand. More than half of Ledn’s users are in Latin America, Di Bartolomeo said, where ethereum-backed DAI is increasingly seen as an alternative to strictly regulated dollar transfers.

Separate from the loan startup, MakerDAO is [also] partnering with product-provider Pundi X, and planning to install point-of-sale devices across Latin America so that DAI users can spend crypto directly on goods and services.”

See Also: Stablecoin Adoption: DAI in a Visa Card, Tether Sees Use in E-Commerce

“The SEC granted Paxos Trust Company no-action relief Monday to settle equity securities trades on a blockchain platform for broker-dealers. Paxos announced that Credit Suisse and Société Générale would be the first two companies to utilize the new Paxos Settlement Service, which would operate on a private and permissioned network.

The service will let two parties bilaterally settle securities trades directly with each other. Monday’s announcement marks the first regulated platform for such trades.

The no-action relief will allow Paxos to operate its service within strict limitations. The company will begin by settling U.S.-listed equities.”

“China’s central bank will certify 11 types of financial technology hardware and software that are widely used for digital payment and blockchain services with its new verification system called the Certification of Fintech Products.

The certification system covers all the products that could be involved in digital payment technologies, including point-of-sale mobile terminals, embedded application software, user front-end software, and security carriers and chips. One of the very specific items included on the list of 11 products is trusted execution environment (TEE).

See Also: FTX Launches Futures on Index of 8 China Cryptos Amid Xi Blockchain Pump
See Also: Tencent to Lead Drafting of International Blockchain-Based Invoice Standards

“I want to say that the efficacy of sanction enforcing can be much higher on Libra than other payments networks.

The CEO of Calibra — Libra’s corresponding wallet — added that any wallet could participate in the network, so long as it was compliant with AML and know-your-customer standards.”

Baldwin Backs Crypto

“Professional services giant Deloitte has added zero-knowledge proof privacy tech to its enterprise blockchain offering. Deloitte’s Eduscrypt platform allows organizations to track, share and validate qualifications, using a private, permissioned version of ethereum.

Integrating QEDIT’s Zero-Knowledge Proof privacy solution ensures that organizations can trust in the authenticity of qualifications, while preserving the full privacy of the underlying data, and upholding regulatory compliance.”

Notably, three of the top five regions reporting the most searches for the keyword in question are located in Africa. The top five regions are Nigeria, South Africa, Austria, Ghana and Brazil.

As reported earlier today, peer-to-peer cryptocurrency trading platform Paxful said its volumes grew 2,800% over the past year in South Africa. 

Google searches for “blockchain,” on the other hand, have not seen any major leap in interest despite receiving praise from China’s president who urged the country to accelerate blockchain development.”

See Also: P2P Crypto Trading Volume Increased 2800% in South Africa, Says Paxful

“Binance’s latest research report has argued that with Ethereum’s pending switch to proof-of-stake (PoS), staking is set to have a major impact on the industry. Binance outlines the potential risk-return profile of staking as a passive investment strategy vs. active trading.

As reported yesterday, a senior ConsenSys executive has revealed that Ethereum 2.0 validators can expect to earn from 4.6% to 10.3% as rewards for staking on an annual basis.”

“The contract will have daily settlement and offers supported pairs with Bitcoin (BTC), EOS, Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Bitcoin SV (BSV) and Tron (TRX).

OKEx argues that offering stablecoin-based derivatives contracts will offer a simpler and more efficient means for traders to navigate the market and calculate risks.

“Canaan Creative, the Avalon bitcoin miner maker and one of the world’s largest mining equipment manufacturers, has just formally filed another attempt to go public – this time in the U.S.

The filing marks the third attempt of Canaan in its efforts to go public, after its first and second trial in mainland China and Hong Kong, respectively, both fell through due to market uncertainties.

Chinese media this month pegged Canaan’s valuation at between $2 billion and $3 billion, with 126 million shares to be issued.”

See Also: Bitmain Turmoil: Co-Founder and Executive Director Micree Zhan Ousted

Good read.

“Token issuers that were hoping their digital asset would escape securities requirements through “decentralization” are almost certainly in for a disappointment, as the Telegram action and recent statements show that _intent_ is more of a barometer.

In a direct listing, existing shareholders of a private company release all or some of their holdings for public sale on a designated exchange, at considerably less expense than a traditional IPO.

Imagine that Telegram had registered its Gram tokens as securities and distributed them to initial investors, employees and developers. In a direct listing, existing token holders could sell them on a designated exchange without restriction. While not cheap, it would most likely cost less in time and money than extensive litigation.

It is clear that the legacy IPO market is ripe for innovation, as its stubbornly high costs in spite of waning demand shows. Finance overall would benefit from the emergence of new token-based business models, less reliance on private equity and debt, and more fluid capital markets.”