14 April

“Crypto custody firm Fireblocks has teamed up with FIS, the Fortune 500 technology provider to banks and capital markets firms. FIS’s client list of 6,400 asset managers, banks and brokers will have access to platforms like Aave Arc with more institution-friendly DeFi pathways to come.

It’s another signal to the market that institutions are edging closer to crypto – even its more esoteric realms. Many of the big banks are exploring structured products in the form of crypto derivatives, if not directly exposing themselves to the asset class.

There are investors who will seek out synthetic exposure as their only means of access to crypto and digital asset investing. But for the market makers and the brokers, they will need access to the underlying physical assets.

The appetite of traditional clients to control their own wallet technology and get exposure to different types of these assets will grow over time, either for their own portfolios or to support their structured products or derivatives businesses on top.

This is going to be a great opportunity to empower FIS’s clients to access all the weird and wonderful things of digital assets.”

See Also: MetaMask Institutional Adds Ethereum Gnosis Safe, Custody Options for DAOs and DeFi
See Also: Synthetix Adds Perpetual Futures, Commodities and Forex Pairs

Commercial paper, a type of unsecured debt issued by companies, constitutes 30% of Tether’s reserves. Tether CTO Paolo Ardoino told CNBC Wednesday that the company is already scaling back its reliance on commercial paper and ‘will keep reducing the commercial paper‘ in its reserves.

According to Tether’s most recent breakdown, from December 31, 30% of its reserves (worth $24.2 billion) are held in commercial paper or certificates of deposit. That represents a reduction in both absolute and percentage terms from September 30, 2021, when $30.6 billion (44%) of its $69.2 billion in reserve was in commercial paper.”

“The Polygon network announced on Tuesday its commitment to going carbon neutral and climate positive this year by releasing their “Green Manifesto: A Smart Contract with Planet Earth.” Going carbon neutral means that every nonfungible token (NFT) minted, token bridged or decentralized finance (DeFi) trade made on Polygon will be accounted for and its environmental impact will be offset.

Polygon is collaborating with KlimaDAO, an organization of developers that provides on-chain carbon offsetting technology, as well as Offsetra, which provides Polygon with an analysis tool that gauges the network’s carbon intensity.”

“MoonPay announced today that Matthew McConaughey, Gwyneth Paltrow, Steve Aoki, Justin Bieber, Ashton Kutcher’s Sound Ventures, Brie Larson, Gal Gadot, Eva Longoria, Paris Hilton and others provided $86.7 million in funding to the payments infrastructure company.

According to MoonPay, ‘The strategic investors represent industries on the cusp of transformation by Web3 technology.’

Web3 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and manage intellectual property.

It’s been a rapid rise for MoonPay, which was founded in 2019. In December, it raised $555 million in a Series A round, bringing its total valuation to $3.4 billion. The service claims 10 million users across 160 countries. Its basic utility is that it integrates with other crypto services to let users buy crypto with a credit card or debit card. The service processes NFT transactions for OpenSea and is probably best known for facilitating celebrity purchases of Bored Apes. It also facilitates purchases on Bitcoin.com and payments for plenty of other platforms.”

See Also: Nexo Unveils Payment Card Where Users Get to Keep Their Crypto

Thirteen franchises are set to announce a tie-up with fan token platform Socios, following the New England Patriots into the uncharted territory of NFL crypto deals. Socios’ current social token model has a presence in the world of European football. The company [also] announced partnership deals with 24 National Basketball Association teams in October.

Unlike in Europe, Socios’ U.S. deals have yet to include the release of any actual tokens, largely because of regulatory concerns. The deals are described by the teams as “multi-platform marketing” agreements that include in-stadium advertising and Socios-driven fan experiences like player meet-and-greets, but no tokens – yet.

In most countries in the world, you have a clear regulatory framework; in the U.S. it’s not yet completely clear.”

See Also: Dallas Cowboys Ink Deal With Blockchain.com as NFL Teams Begin Crypto Embrace

“Sega is embarking on a five-year plan to create “Super Game,” an interconnected framework of AAA titles that could incorporate Web3 technologies such as NFTs. Kikuchi also hinted at how its ‘Super Game’ plan could lead to a metaverse initiative in which different games are interconnected with each other.

We are developing Super Game from the perspective of how far different games can be connected to each other. It is a natural extension for the future of gaming that it will expand to involve new areas such as cloud gaming and NFTs.”

See Also: ERC721R: Bringing Greater Accountability to NFT Creators
See Also: Chinese Banking Associations Target NFTs
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