Weekly Update: 19 Jan 2023

1) Goldman Sachs’ tokenization platform GS DAP™, leveraging Daml, goes live [Business Wire]

– Goldman Sachs Digital Asset Platform went live with the European Investment Bank (EIB) the first to leverage the platform, issuing the first fully digital bond on a private blockchain.

2) Samsung Asset Management launches bitcoin futures ETF in Hong Kong [Bitcoin.com]

– The bitcoin futures ETF is managed by Samsung Asset Management (Hong Kong) Ltd. while HSBC Institutional Trust Services (Asia) Ltd. is the fund’s trustee and registrar.

3) Brazil’s second-largest private bank launches first tokenized credit note [CoinDesk]

– Bradesco, Brazil’s second-largest private bank, launched its first tokenized bank credit note, under a regulatory sandbox run by the Central Bank of Brazil.

4) Binance will allow institutional investors to keep collateral off the crypto exchange [CoinDesk]

– Binance will allow institutional investors to keep their collateralized crypto used for leveraged positions, off the platform to cold wallets provided by Binance Custody.

5) Bitcoin retakes $20K as crypto rally continues [CoinDesk]

– Bitcoin’s 2023 surge continues, with the crypto now above $20,000 for the first time since the FTX collapse in early November.

6) Coinbase to close most of Japan operations [Bloomberg]

– US-based crypto exchange Coinbase is closing the bulk of its operations in Japan as part of a move to adjust international investment amid a slump in the digital-asset sector.

7) MAS raises collateral requirements for cryptocurrencies from 1:1 to 1.25:1 [PANews]

– MAS has increased the collateral requirements for risky assets such as cryptocurrencies from 1:1 to 1.25:1. This is the latest attempt to protect investors from market crash risks.

8) HK retail crypto investors will only have access to ‘highly liquid’ products [South China Morning Post]

– Trading in virtual assets will be restricted to highly liquid products for retail investors when a new licensing regime comes into effect in June.

9) El Salvador approved law on digital assets issuance [The Block]

– El Salvador’s Legislative Assembly approved a law on the issuance of digital assets, paving the way for bitcoin bonds that have been championed by President Nayib Bukele.

10) HashKey Capital raises $500M for 3rd crypto fund [CoinDesk]

– HashKey Capital, the investment arm of financial services firm HashKey Group, has closed its third fund with $500 million in committed capital.