Weekly Update: 28 December 2023
1) Chainlink aims to further integrate RWA and TradFi in 2024 [BeIn Crypto]
– Chainlink continues to expand its Cross Chain Interoperability Protocol to meet the demand of capital markets moving on-chain.
2) Ethereum emerges as a key blockchain for tokenized Real-World Assets [CoinDesk]
– The total value of tokenized real-world assets on public blockchains increased to $2 billion from $1 billion in the last 12 months, and Ethereum currently hosts majority of it.
3) Coinbase’s focus on asset tokenization [Yahoo Finance]
– Coinbase has launched Project Diamond, aimed at enabling institutions to create and trade digital tokens, marking a potential shift towards greater tokenization of assets in the financial sector.
4) Crypto investment products saw $103M in weekly inflows, reversing previous week [Cointelegraph]
– CoinShares speculated that the recent string of inflows may be the result of traders’ optimism that spot Bitcoin exchange-traded funds (ETFs) will soon be approved in the United States.
5) Hong Kong releases crypto ETF requirements ahead of US approval [Blockworks]
– The Hong Kong Securities and Futures Commission issued a joint circular with the city’s Monetary Authority outlining the conditions under which they would approve a spot crypto ETF.
6) Japan eyes scrapping corporate tax on unrealized crypto profits [Cointelegraph]
– Domestic firms are required to pay tax on paper gains from their cryptocurrency holdings but under proposed tax reforms, would only need to do so when they sell the asset.
7) Ripple’s CTO, predicts a surge in real-world asset (RWA) tokenization on the XRP Ledger in 2024 [Daily HODL]
– He believes that this tokenization, especially in sectors like real estate and commodities, will significantly drive the blockchain economy.
8) SEC delays several Ethereum ETFs, pushing final decision to May [Cointelegraph]
– The SEC has pushed back its decision on a roster of Ethereum ETFs, with the final date for a potential approval
