‍Bhutan Launches Sovereign Gold-Backed Token TER on Solana The Kingdom of Bhutan has launched TER, a sovereign gold-backed digital token, on the Solana blockchain. Issued within the Gelephu Mindfulness City (GMC) Special Administrative Region, TER represents physical gold reserves. DK Bank, Bhutan's first regulated digital bank, will manage distribution and custody, with technical support from Matrixdock. This initiative aligns with Bhutan's broader crypto strategy, which includes Bitcoin mining operations utilizing hydroelectric power, holding strategic crypto reserves, and enabling crypto payments for tourism. Experts anticipate future tokenization of other assets like silver, precious stones, and cultural resources.
Cryptovka
Bhutan Forges Ahead: Sovereign Gold-Backed Token Launched on Solana
The Kingdom of Bhutan has taken another significant step in its national blockchain strategy by launching a sovereign gold-backed digital token nam...
‍WSPN and ArrivalX Partner to Revolutionize Cross-Border Payments Worldwide Stablecoin Payment Network (WSPN) and ArrivalX have formed a strategic partnership to enhance cross-border payments and treasury operations. This collaboration integrates WSPN's stablecoin technology with ArrivalX's payment infrastructure. The initiative aims to offer businesses faster and more cost-effective international transactions, reducing settlement times and lowering costs compared to traditional banking. The platform will manage both fiat currencies and stablecoins through a unified interface, benefiting sectors like advertising, e-commerce, SaaS, and crypto-native businesses. Raymond Yuan of WSPN stated, "This partnership represents a significant step forward in our mission to make global payments more accessible, efficient, and transparent." Claudio of ArrivalX added that the partnership "strengthens settlement certainty and accelerates the global adoption of stablecoins." WSPN's core offering is the WUSD stablecoin, pegged 1:1 to the U.S. Dollar. ArrivalX focuses on next-generation cross-border payment infrastructure powered by stablecoins, particularly for emerging markets.
Cryptovka
WSPN and ArrivalX Team Up to Transform Cross-Border Payments
Worldwide Stablecoin Payment Network (WSPN), a leading provider of next-generation stablecoin infrastructure, has announced a strategic partnership...
‍CFTC Establishes CEO Innovation Council to Bridge Crypto and TradFi The U.S. Commodity Futures Trading Commission (CFTC) has launched a new CEO Innovation Council, uniting executives from the blockchain industry and traditional finance. This council aims to enhance dialogue on evolving derivatives markets, addressing key topics such as tokenization, crypto assets, 24/7 trading, and blockchain market infrastructure. Participants include leaders from Polymarket, Kalshi, Kraken, Gemini, CME Group, Cboe Global Markets, Nasdaq, and others. Acting CFTC Chairman Caroline Pham stated the council builds on previous successful initiatives. This development follows the CFTC's recent pilot program allowing crypto collateral for derivatives and its earlier Crypto CEO Forum, underscoring a commitment to integrating digital assets within regulated markets and fostering regulatory clarity.
Cryptovka
CFTC Bridges Crypto and TradFi with New CEO Innovation Council
The U.S. Commodity Futures Trading Commission (CFTC) has established a new CEO Innovation Council, bringing together executives from both the block...
‍Major VCs Exit SKY Token, Framework Ventures Remains Bullish Several prominent venture capital firms have divested their holdings in the Sky (SKY) token following the expiration of its initial lock-up period. Paradigm, a16z, Bain Capital, and Syncracy have fully liquidated their positions. Dragonfly and Parafi have also significantly reduced their stakes. In contrast, Framework Ventures stands as the primary institutional backer, maintaining a substantial investment. Co-founder Vance Spencer stated on X, "Framework is currently the only VC still heavily holding Sky, while most institutions have cleared or significantly reduced their positions." This divergence in strategy will be closely monitored by the market.
Cryptovka
Major VCs Exit SKY Token, Framework Ventures Holds Strong
Several prominent venture capital firms have divested their holdings in the Sky (SKY) token as its initial lock-up period concluded....
‍Stripe Acquires Valora Team to Accelerate Blockchain Project Tempo Payments giant Stripe has acquired the Valora team, known for its mobile-first crypto wallet, to bolster its blockchain initiatives. This move follows the recent launch of Stripe and Paradigm's stablecoin-focused Layer-1 blockchain, Tempo. Valora's expertise in user-friendly Web3 applications is expected to accelerate Stripe's digital asset ambitions. Valora's multi-chain wallet experience is seen as a valuable asset for Tempo, which aims to be a payments-first blockchain optimized for stablecoin transactions with instant settlement and low fees. The acquisition signals Stripe's strong commitment to integrating blockchain into its global payments infrastructure.
Cryptovka
Stripe Acquires Valora Team to Bolster New Blockchain Project Tempo
Payments giant Stripe has acquired the team from Valora, a mobile-first crypto wallet, in a strategic move to enhance its blockchain initiatives....
‍Asian HNWIs Increase Crypto Allocations for Long-Term Wealth A recent Sygnum report reveals a significant shift in how Asian high-net-worth individuals (HNWIs) view digital assets. 60% plan to increase their crypto holdings in the next 2-5 years, with 90% seeing them as crucial for long-term wealth preservation and estate planning. 87% of surveyed Asian HNWIs already hold cryptocurrency, allocating an average of 17% of their portfolios. Investors strongly prefer regulated platforms (87%), indicating a demand for institutional-grade safeguards. The outlook is bullish, with growing interest in ETFs and products offering staking yields.
Cryptovka
Asian HNWIs Deepen Crypto Bets, Prioritizing Long-Term Wealth
A recent study reveals a significant shift in how high-net-worth individuals (HNWIs) in Asia perceive digital assets, with a growing number viewing...
‍Norway Halts CBDC Plans, Citing Efficient Payment System Norges Bank has paused its central bank digital currency (CBDC) plans, concluding there's no immediate need for a digital krone. Governor Ida Wolden Bache stated Norway's current payment system is "efficient and secure." While not issuing a CBDC now, Norges Bank will continue researching digital currencies and asset tokenization, ready to act if circumstances necessitate. This cautious approach mirrors other Nordic countries amid rapid financial innovation.
Cryptovka
Norway Halts CBDC Plans, Citing a Secure and Efficient Payment System
Norway
‍Fed Signals Pause on Rate Hikes, Sparking Crypto Market Optimism The U.S. Federal Reserve has indicated a halt to its interest rate hikes, a move that has ignited positive sentiment across financial markets, including the cryptocurrency sector. Fed Chair Jerome Powell announced a shift to a "wait-and-see" approach. This development is crucial for digital assets like Bitcoin (BTC) and Ethereum (ETH), which often react to macroeconomic signals and changes in monetary policy. Powell's statement that current rates are in "a good place" suggests further hikes are not expected. This pivot from a tightening cycle is generally viewed as favorable for risk assets, including cryptocurrencies, as lower interest rates can increase liquidity and investor appetite for higher-growth investments. Following the announcement, Bitcoin's price briefly surged above $94,000. While a rate cut was largely anticipated, Powell's forward-looking statements are now key for determining the market's next major move. Analysts note that the market will closely watch inflation and employment figures to anticipate the Fed's next steps. A sustained pause or further cuts could provide significant tailwinds for digital assets.
Cryptovka
Fed Signals Pause on Rate Hikes, Sparking Crypto Market Optimism
The U.S. Federal Reserve has indicated a halt to its series of interest rate hikes, a move that has ignited positive sentiment across financial mar...