Weekly Update: 14 December 2023
`1) BlackRock’s Bitcoin ETF now invites participation from Wall Street banks [CoinDesk]
– A change to the structure of proposed spot bitcoin ETFs would enable authorized participants (APs) to create new shares in the fund with cash, rather than only with cryptocurrency, essentially opening the door to banks who cannot hold crypto directly.
2) S&P Global launches stablecoin ratings, ranks GUSD, USDP, USDC highest [Cointelegraph]
– The producer of the S&P 500 assessed eight stablecoins. Tether received the second-lowest rating.
3) Chinese government plans blockchain-based identity verification [Cointelegraph]
– The Chinese Ministry of Public Security plans to implement a blockchain-based identity verification system that it claims will help keep personal data and identity credentials safe.
4) El Salvador’s Bitcoin bond gets regulatory approval, targets Q1 launch [Cointelegraph]
– The Volcano Bond was approved by the country’s Digital Assets Commission on Dec. 11, with issuance expected in Q1, 2024.
5) FIFA drops NFTs that offer chance at World Cup final tickets, moves to Polygon [The Block]
– FIFA is releasing digital collectibles that will give owners of the first 100 released a chance to “secure” tickets to the 2026 FIFA World Cup final.
6) Japan’s SBI looks to Saudi Aramco as it continues Middle East expansion [Cointelegraph]
– They have signed a memorandum of understanding on digital asset investment and semiconductor production.
7) Swarm launches permissionless trading platform for tokenized real-world assets [The Block]
– Developed in compliance with MiCA regulations in the EU, it ensures decentralized applications remain outside regulatory oversight.
8) UK asset manager M&G invests $20M in Bitcoin derivatives exchange [Cointelegraph]
– The investment will open up cryptocurrency derivatives trading to traditional financial institutions.
