4 November

“Circle Internet Financial has begun moving the reserves for its USDC stablecoin into a dedicated fund set up by BlackRock and registered with the U.S. Securities and Exchange Commission. Placing the assets in a fund overseen by the SEC could further bolster the company’s assertions of safety.

The new fund’s assets will be held at the Bank of New York Mellon, according to Circle, where the fund will be subject to regulation under the Investment Company Act of 1940, which requires an independent board and daily reports on the portfolio. The current circulation of $43.9 billion in USDC is currently backed by $44.1 billion in cash and short-term U.S. government bonds, according to weekly company disclosures. The portfolio of the new fund will also consist of cash and U.S. Treasury bonds.

From the start, we’ve managed the USDC reserve to minimize risk – liquidity, counterparty, operational, reputational and more – so that USDC holders can be confident their money is sound and redeemable 1:1 for U.S. dollars at any time.”

The 375 million Swiss franc ($370 million), three-year bond is the first from a banking institution that will be listed, traded and settled on a digital exchange. The bond will be issued on the blockchain-based platform of the SIX Digital Exchange and traded on the SDX and SIX Swiss Exchange.”

See Also: Standard Chartered Invests in JPM and DBS-Backed Blockchain Payment Network Partior
See Also: Santander UK Puts Limits on Payments to Crypto Exchanges

“AR, the native token of blockchain-based data storage solution Arweave, surged as Facebook and Instagram’s parent company, Meta, said it will utilize the Web3 platform to archive their creators’ digital collectibles.

The integration means Instagram users can now issue digital collectibles for their posts, stored on Arweave. In other words, Meta is bringing data permanency to its platform with the help of decentralized storage technology. Arweave allows users to retain information forever. The data, once entered, cannot be altered. Users need to purchase the storage space by paying the AR token.

Early this year, the censorship-resistance platform was reportedly used to archive millions of documents from war-hit Ukraine and store the aggressor Russia’s misinformation and propaganda.”

The Bored Ape Yacht Club (BAYC) creators are hard at work on open standards to enable NFTs to migrate between Otherside and other metaverses. Those object standards will, Solano said, be ‘open standards that anyone can adopt, and can build on top of.

The idea is that a designer can create a 3D character model for BAYC’s Otherside metaverse and, ‘just as easily take it to another metaverse.‘ And vice versa. The other selling point for an open metaverse, as opposed to a Web2 “walled garden” such as Fortnite or Roblox, is “true ownership,” said Solano.

Earlier this month, the Open Metaverse Alliance (OMA3) launched with a vision to ensure that the metaverse ‘remains open and becomes truly user-owned,‘ part of which includes a working group to develop interoperability standards.”

See Also: Kraken Launches 70 Ethereum, Solana NFT Collections on New ‘Gasless’ Marketplace
See Also: Final Fantasy Maker Square Enix Reveals Its First Ethereum NFT Game

The new system will be called datonomy, and seeks to give crypto participants a standardized way to view and analyze the digital assets ecosystem. Crypto market participants will be able to track trends in different segments of crypto including smart contract platforms and decentralized finance (DeFi), and also screen various assets.

The collaboration brings together MSCI’s expertise in critical decision support tools and services, Coin Metrics’ intelligence in the digital assets space and Goldman Sachs’ innovative platforms.

Separately, MCSCI announced Thursday that it is launching its own set of digital assets indices.”