Weekly Update: 26 Jan 2023
1) Korea to approve Security Token Offerings [Investing.com]
– The FSC plans to approve the issuance of STOs and institutionalize distribution platforms for these digital tokens. Details of this plan will be announced as early as February.
2) China launches smart-contract functionality on digital Yuan through Meituan [CoinDesk]
– Through the smart contract on the e-commerce app Meituan, one of China’s largest food delivery and lifestyle apps, users can win part of a $1,312 daily prize for using digital Yuan.
3) Binance mistakenly mixed crypto exchange’s customer funds with B-Token collateral [Bloomberg]
– Binance mistakenly kept collateral for some of the crypto assets it issues in the same wallet as funds belonging to its customers.
4) Circle Ventures backs $4m round for blockchain-based debt provider obligate [CoinDesk]
– Obligate, a startup offering blockchain-based regulated debt securities, announced a $4 million seed extension round. The funds will be used to scale its debt platform that is set to go live next month on Polygon.
5) Ex-FTX US president Harrison taps Coinbase, Circle for new crypto firm [Bloomberg]
– Former FTX US president Brett Harrison has raised $5 million for a new crypto trading software startup, Architect, from Coinbase Ventures and Circle Ventures and others.
6) EU plans digital euro bill, metaverse policy for May [CoinDesk]
– The European Commission will publish a bill to underpin a digital euro and set out its strategy on virtual worlds in May.
7) Genesis is planning to file for bankruptcy [Cointelegraph]
– Cryptocurrency lending firm Genesis Global Capital, a subsidiary of Digital Currency Group, is preparing to file for bankruptcy.
8) MakerDAO approves deployment of $100m USDC on DeFi protocol Yearn Finance [CoinDesk]
– The decision opens the way for MakerDAO to earn an estimated 2% annual yield on USDC stablecoin deposits.
9) National Australia Bank becomes second Australian bank to build stablecoin [CoinDesk]
– The National Australia Bank, one of the four biggest Australian banks, has created a stablecoin called AUDN, aiming to launch in 2023, on Ethereum and Algorand.
