Weekly Update: 28 Mar 2024
1) UK government-backed report urges firms to execute tokenization strategies [CoinDesk]
– The Technology Working Group’s report says firms need to be able to settle transfers on the blockchain via digital money and that funds should be allowed to hold tokenized assets.
2) Blackrock’s new tokenized fund brings TradFi, crypto closer: Bernstein [CoinDesk]
– The launch of the BUIDL fund is significant because of the way in which the investment manager has brought in key ecosystem partners from both the TradFi world and the crypto sector, the report said.
3) A16Z-backed protocol unveils U.S. dollar stablecoin passing yield from RWA and DeFi [CoinDesk]
– DeFi protocol Angle also aims to establish a forex hub offering seamless conversion between its dollar and euro-pegged stablecoins.
4) Bitcoin ETFs snap outflows streak, accumulate $15.4m [CoinDesk]
– One analyst said quarter-end inflows could be stronger than usual.
5) Goldman seeing ‘resurgence of interest’ for crypto options from hedge fund clients: Bloomberg [CoinDesk]
– The approval of spot bitcoin ETFs in the U.S. in January brought about a pickup in interest from Goldman’s existing clients.
6) HSBC’s gold token goes live for retail investors in Hong Kong [CoinDesk]
– The bank is claiming bragging rights for being the first bank to create a blockchain-based real world asset aimed at retail investors.
7) Hong Kong likely to allow in-kind creations for spot Bitcoin ETFs: Bloomberg [CoinDesk]
– Hong Kong’s Securities and Futures Commission (SFC), is likely to allow in-kind creations and redemptions for spot bitcoin ETFs in the second quarter of this year, according to a report from Bloomberg Intelligence.
8) TrueFi unveils lending protocol for tokenized real-world assets; TRU jumps 14% [CoinDesk]
– Investors will be able to take out crypto loans by pledging TrueFi’s U.S. Treasury bill tokens, with plans to expand collateral to other types of tokenized RWAs, according to the proposal.
