Can you believe it? We've reached the final chapter of our Web3 Wonderland adventure for this year! 🗓️ As we gather around the digital campfire one last time in 2023, we can't help but marvel at the incredible journey we've embarked upon together. Thank you for being part of our incredible community. Your passion for Web3 technology fuels our quest to bring you the most exciting and relevant updates from the vast expanse of the decentralized universe.

From the rise of mind-bending metaverse experiences to the revolutionary impact of CBDCs, we've got your ticket to the most exciting virtual rollercoaster ride of the year! 🎢

So, buckle up, Wonderland Explorers, because in this edition, we're not just revisiting the past; we're peering into the future! Get ready to unravel the mysteries of the blockchain, uncover the secrets of the crypto cosmos, and discover the trends that will shape the digital landscapes of tomorrow!

Grab your cyber-coffee, put on your favorite VR headset, and let's celebrate the Top 10 web3 highlights from last month that'll leave you both informed and entertained:

• Web3's global influence continues to soar – Mastercard partnered with the Reserve Bank of Australia to successfully trial the integration of CBDCs with Ethereum-based NFTs - unlocking a new use case that expands new commerce possibilities. Meanwhile, Saudi Arabia's NEOM Investment Fund announced its plans to invest $50M into Animoca Brands with the aim of propelling the Saudi Vision 2030 plan, with Animoca Brands providing web3 services and handling related initiatives.

• Last month, the headlines lit up with license wins! Ripple obtained a major payments institution license in Singapore that serves as a strategic step toward growing its presence in the Asia-Pacific region, and digital asset bank Xapo secured a European broker license, enabling it to offer European customers the ability to trade S&P 500 stocks like Apple alongside crypto wealth management services.

• Speaking of stocks, Float set sail with the ‘Float Token’, a globally private debt asset token, in partnership with Sygnum Bank on the Polygon blockchain. The new digital instrument will provide the opportunity to invest in a private debt portfolio alongside Fasanara Capital. Another launch that grabbed attention was Solana Lab's 'Solana Incubator' - a program that will offer fundraising, development, networking and marketing support for web and blockchain projects seeking to build on Solana’s platform.

• Europe was quite the hub of web3 activities, with Wirex and Transact Payments joining forces to enhance Wirex's card product offerings for delivering streamlined payment solutions for users in the EEA, and Kraken acquiring Netherlands-based cryptocurrency broker BCM – a move is in line with Europe’s Markets in Crypto-Assets (MiCA) regulatory framework, promoting compliant growth.

• Digital realms observed a vibrant display of innovation – Nomura and its digital assets subsidiary Laser Digital launched the immersive ‘Nomura & Laser Digital Botanical Garden’ experience in The Sandbox metaverse to accelerate the bank’s advancements in the digital asset sector. At the same time, Amazon Web Services (AWS) united with Immutable to streamline the integration of game studios into Web3, ultimately enhancing the concept of digital ownership for in-game assets among millions of gamers across the globe.

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Web3 Word of the Month

Masternode

A masternode is a blockchain node that checks transactions, stores the entire history of the blockchain, and may participate in voting, governance of the blockchain, and other special functions such as increasing the privacy of transactions and performing instant transactions. Think of it as a special member that helps run the blockchain smoothly, using a system similar to Proof-of-Stake.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• The big picture of embedded finance and how it’s taking shape in Canada

• The Unbundling of Finance for SMEs: A Fintech Revolution

• Adyen Beyond Payments – Embedded Finance Playbook

• Starling’s Challenger Bank Playbook

• Stripe’s Economic Infrastructure Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of fintech with the world.

Fintech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything fintech and web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

 Are you ready to embark on a mind-bending journey through the Web3 Wonderland? Buckle up because you're about to dive headfirst into a world where pixels meet possibility, and innovation knows no bounds!

Curious about the latest mind-blowing Metaverse developments? Eager to unravel the mysteries of the crypto cosmos? Craving the juiciest tidbits from the world of decentralized finance? You're in the right place!

Gear up, tech enthusiasts! We’ll blast off into the thrilling web3 galaxy in just a bit, but first, here’s some exciting news for Apple users in the UK!

The latest integration of the Apple Wallet app with the United Kingdom's Open Banking API allows users to effortlessly view their current account balances, transaction history, and more. This feature not only promotes financial awareness but also helps users make informed purchasing decisions when using Apple Pay. With supporting banks like Barclays, HSBC, and Monzo onboard, Apple is leveraging the open banking standard to provide a secure and seamless experience.

Meanwhile, if you're curious about Apple's broader financial endeavors, check out WhiteSight's comprehensive "Apple Embedded Finance Playbook." It offers valuable insights into the strategic positioning of Apple and how it aims to shape the future of financial services.

Make the most of your Apple Wallet, and dive into the playbook for a deeper understanding of Apple's embedded finance vision!

Take me to the Playook! 🚀

Step into the exhilarating world of web3 with our Top 10 headlines - all curated just for you!

• PayPal rolled out its PYUSD stablecoin on Venmo, where Venmo users can now easily purchase and send PYUSD to other Venmo users and PayPal accounts. The move is unique because of its significant wallet interoperability, allowing those with compatible external wallets and merchants accepting PYUSD payments to receive transfers from Venmo users. 

• Standard Chartered's crypto subsidiary, Zodia Custody, joined forces with OpenEden to introduce "Zodia Custody Yield" - a service that tokenizes real-world assets such as treasury bills to enable investors to earn yield while leveraging blockchain advantages. This expansion aligns with growing institutional demand for secure and transparent digital asset products, especially for stablecoin holders. 

• In the NFT space, Animoca Brands Japan partnered with Honda Motor Co Ltd., Gryfyn, and GET Protocol to gift fans and participants membership non-fungible tokens (NFTs) and commemorative NFTs at the FORMULA 1™ Honda & Red Bull Welcome Event in Tokyo. At the same time, regulation has also ramped up, with France exploring a legal framework for web3 gambling and NFTs. The “SREN” bill, approved by the French senators, is specifically designed to define a new framework for web3 games, which are based on digital assets like NFTs that utilize web3’s decentralized nature to create new gaming experiences and digital economies.

• Moreover, The Philippines Securities and Exchange Commission (SEC), in collaboration with the U.S. Securities and Exchange Commission (SEC) and the Asian Development Bank, conducted an IOSCO Investigation and Enforcement Training workshop in August in a bid to upskill its combined fraud and scam prevention toolkit when it came to crypto-related crimes. Speaking of crime, decentralized peer-to-peer network Mixin Network lost approximately $200M in a hack involving the compromise of the database of a third-party cloud service provider. An immediate suspension of all deposit and withdrawal services on Mixin Network followed the revelation, with SlowMist and Google being hired to help investigate the hack as the Mixin team attempts a recovery.

• China's e-CNY app made headlines for allowing tourists to pre-charge their digital yuan wallets using Visa and Mastercard payment options. The move comes as China aims to make the digital yuan a ubiquitous payment method between retail users and merchants.

• Matter Labs launched a new ecosystem portal for zkSync, managed by DappRadar, in what both partners are calling a step toward fully decentralizing the protocol. On the other hand, Uniswap introduced "Uniswap University" in collaboration with DoDAO, an educational platform designed to offer a well-structured learning path for onboarding users to its v3 exchange via courses, simulation and quick guides.

• That's not all - Roblox acquired voice tech startup Speechly to enhance its voice chat-based interactions. Speechly will provide Roblox with AI moderation tools for real-time voice communication, helping it build the leading platform for 3D immersive communication and connection.

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That's all for now!🤘

We hope you enjoyed this edition of the Worldwide web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• The big picture of embedded finance and how it’s taking shape in Canada

• The Unbundling of Finance for SMEs: A Fintech Revolution

• Adyen Beyond Payments – Embedded Finance Playbook

• Starling’s Challenger Bank Playbook

• Stripe’s Economic Infrastructure Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

Get ready to embark on an exciting journey into the ever-evolving world of web3! Join us this weekend as we unveil the latest updates in our Worldwide Web3 Wonderland, where visionaries and innovators come together to explore the enchanting realms of the web3 landscape. 📰

Before we fully immerse ourselves in the realm of web3, we have an exciting surprise in store: our blog on The Unbundling of Finance for SMEs: A Fintech Revolution!

In the ever-evolving finance landscape, fintech is revolutionising the game, especially for small and medium enterprises (SMEs).

From payments and banking to financing and insurance, fintech is reshaping SME finance. But wait, there's more! We're delving deep into how fintech is supercharging small businesses with cash management, value-added perks, and tech wizardry!

Curious to learn more?

Dive into the full story now, where we take a deeper look at how fintechs are unbundling SME finance!

Take me to the blog! 🚀

Here are the top headlines from this past fortnight of the web3 cosmos:

• PayPal introduced on- and off-ramps for web3 payments, making it easier to buy and sell supported crypto in the US through PayPal integration. This benefits web3 merchants by expanding their user base, providing fast payments, and enhancing security. Previously live on Metamask and Ledger, the service is now available to all wallets, dApps and NFT marketplaces.

• Telegram integrated TON's web3 wallet into its platform, marking a significant web3/web2 partnership. It's also introducing a self-custodial version called "TON Space," allowing users full control over their digital assets and enhancing security.

• Solflare integrated MetaMask Snaps into its Solana wallet, simplifying portfolio management on the Solana blockchain which allows users to seamlessly interact with Solana's dApps through the popular crypto wallet.

• Visa extended its stablecoin experiment to include new partners, including the blockchain Solana as well as merchant processors Worldpay and Nuvei. It has already tapped the Solana blockchain, along with its prior partner Ethereum, to settle millions of USD Coins in fiat currencies via its VisaNet cross-border system.

• Financial giant JP Morgan also grabbed headlines as it moved into the crypto space with a new blockchain-based deposit token for cross-border transactions which will be first launched for corporate clients to speed up payments and settlements. The solution contrasts with stablecoins, which are usually issued by a non-bank private entity.

• Chinese tech giants Ant Group and Tencent Cloud went head to head as both introduced blockchain solutions for web3 developers. Tencent Cloud Blockchain RPC, jointly developed with Ankr, aims to deliver reliable web3 infrastructure, along with developer services to web3 builders. On the other hand, Ant Group launched a sub-brand called Zan, offering a suite of blockchain application development products and services to help web3 developers.

• Southeast Asian super-app Grab grabbed a spot in the web3 space, introducing a web3 wallet and blockchain-based rewards like NFTs. It also partnered with the Monetary Authority of Singapore (MAS) for a pilot study, where it is offering NFT vouchers for popular eats and experiences in the city. 

• Speaking of NFTs, Lufthansa is launching a loyalty program called 'Uptrip', allowing flyers to collect rewards in the form of NFTs, which will be based on the eco-friendly Polygon blockchain.

• Moreover, Ripple acquired Fortress Trust, a licensed financial institution that specializes in web3 technology. Given its run-ins with the SEC, the purchase of Fortress Trust and its Nevada trust license also adds to a pool of regulatory permits that the company has recently amassed, which includes 30 state money-transmitter licenses and a New York BitLicense.

• On the regulatory tangent, the US Commodity Futures Trading Commission (CFTC) took action against three DeFi companies – Opyn, ZeroEx, and Deridex – for illegally allowing US customers to trade digital-asset derivatives without registering. They were ordered to cease and desist and required to pay civil penalties. Consequently, the US government has increasingly set its sights on decentralized finance, signalling that more may be coming.

  ---

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• The big picture of embedded finance and how it’s taking shape in Canada

• The Unbundling of Finance for SMEs: A Fintech Revolution

• Adyen Beyond Payments – Embedded Finance Playbook

• Starling’s Challenger Bank Playbook

• Stripe’s Economic Infrastructure Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

Crypto connoisseurs and NFT enthusiasts, brace yourselves for another thrilling journey into the fantastical realms of the Web3 Wonderland!

Step right up as we unlock the gates to a world where innovation knows no bounds, where blockchain dreams take flight, and where every byte of data holds the promise of a digital revolution. 🌌

Before we get lost in the digital wonderland, let's take a peek at what Stripe is cooking up in the electrifying web3 universe!

As a trailblazing force in the payment and fintech realm, Stripe's foray into the realms of crypto and Web3 is a resounding declaration of its dedication to remaining pioneers in the ever-evolving landscape of emerging innovations. By facilitating the integration of crypto exchanges, wallet solutions, and extending a helping hand to NFT marketplaces, Stripe is boldly spearheading the charge to propel the widespread embrace of Web3 technologies. 🔗

Curious to know how Stripe facilitates quick web3 project launches while fulfilling regulatory requirements and data security? 

Purchase Stripe’s Economic Infrastructure Playbook to know the full insights!

Take me to the report! 🚀

Here are the #Top10 web3 headlines that will take you through the cosmic corridors of Web3 wonders:

• The National Football League (NFL) and NFL Players Association teamed up with Mythical Games for a groundbreaking web3 blockchain game. In this licensed game, fans can become general managers, creating and owning their teams. It's a whole new way to experience football!

• Huawei Cloud unveiled a host of blockchain services, including the Web 3.0 Node Engine Service (NES) and QingTian Enclave Confidential Computing, to enrich Hong Kong's web3 landscape. In parallel, Polygon Labs and SK Telecom solidified their strategic alliance, where Polygon (MATIC) will play a pivotal role in helping SKT establish and popularize its web3 ecosystem.

• Taking a big bite into the NFT realm –  McDonald's Singapore teamed up with NFT artist The Hidden Walls and crypto startup Bandwagon Labs to unveil a unique collection of Grimace-themed digital collectibles. 

• PayPal and Ledger introduced an on-ramp integration to offer consumers convenient cryptocurrency access, with PayPal joining Ledger Live's 'Buy' section as a new payment method for US users. Additionally, Solana Pay integrated with Shopify to empower businesses and consumers with easy access to decentralized payments on Solana. The collaboration unlocks web3-enabled commerce experiences such as token-gated offers and NFT-based loyalty programs.

• Meanwhile, Komainu – the crypto custody venture backed by Nomura, Ledger, and CoinShares – received an operating license from Dubai's Virtual Asset Regulatory Authority (VARA). It can now offer its full range of comprehensive custody services, such as institutional staking and collateral management, through the Komainu Connect platform.

• On the CBDC front, Mastercard is strengthening its involvement in the central bank digital currency (CBDC) discussion by launching a forum for collaboration. Ripple, Fireblocks, and ConsenSys are among the early participants. Similarly, Brazil's central bank selected 16 proposals, including those from Nubank, Microsoft, Visa, and SETL, for the pilot phase of its Drex CBDC project, with plans for a 2024 launch. 

• Lastly, Circle and MercadoPago teamed up to bring the USDC stablecoin to Chile, offering over two million users a secure dollar-backed choice for seamless digital transactions. The collaboration marks a significant stride for Latin America's digital finance, expanding access to advanced global financial solutions.

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That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• The big picture of embedded finance and how it’s taking shape in Canada

• The Unbundling of Finance for SMEs: A Fintech Revolution

• Adyen Beyond Payments – Embedded Finance Playbook

• Starling’s Challenger Bank Playbook

• Stripe’s Economic Infrastructure Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

It's time for yet another thrilling chapter of the most recent release of the Worldwide Web3 Wonderland as the weekend approaches. The wonders of this ever-expanding world never cease to astound, and the momentum is only growing as institutional investors swarm to tap into its limitless possibilities. Let's dig in and see what fresh wonders are waiting for us!

We interrupt our usual segment of delivering the freshest of headlines from the web3 sphere to bring you an enticing treat: our latest blog exploring the big picture of embedded finance and how it’s taking shape in Canada.

Step into 2023, the year of embedded finance's undeniable rise. This subtle yet potent wave has transformed into a resounding trend, echoing across industries. Imagine financial services seamlessly interwoven into everyday experiences. That's the power of embedded finance, reshaping non-financial platforms into financial hubs for their users. 

Intrigued by this revolution? Ever wondered how brands dive into this integration? Curious about its global impact?

Our brand-new blog spills the beans on how companies are conjuring up this fusion, letting non-financial platforms dish out financial goodies straight to you. First, we journey through the global landscape, where embedded finance has been stirring up a storm. From the world stage, we zoom in on Canada, dissecting the embedded finance frenzy that's reshaping the Great White North's financial landscape. 

Ready to explore? Read on! 📖

Take me to the blog!

Now, for our curated collection of the #Top10 noteworthy web3 news stories of August, ensuring you stay well-informed about the latest developments in the web3 universe:

• Payment powerhouses were seen jumping the web3 bandwagon, with Visa testing a new solution employing Ethereum’s ERC-4337 standard and the “Paymaster” smart contract that enables on-chain gas fees to be paid using a Visa card. In parallel, PayPal unveiled PayPal USD, a U.S. dollar-denominated stablecoin, to reduce friction for in-experience payments in virtual environments. PayPal USD is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company. 

• Not only that, but Spanish football club FC Barcelona also secured a €120M ($132M) investment from Libero Football Finance AG and Nipa Capital BV for their Web 3.0 effort Barça Vision – an initiative to integrate all digital content centred on Web 3.0 blockchain.

• Bigtechs were equally observed making big bets on web3 moves – Microsoft and Aptos Labs joined forces to enhance Web3 accessibility globally, with a focus on the overlap between blockchain technology and artificial intelligence. The collaboration includes implementations of a financial services solution, Aptos Assitant AI chatbot, and a GitHub Copilot Integration. Additionally, Google and Polygon partnered with Chaincode Consulting and India Blockchain Forum to introduce the SUTR sandbox, facilitating testing and deployment of decentralized applications with pre-built DApps for various purposes. 

• Regulation has also ramped up as of late in the web3 realm. DigiFT, a security token DEX enrolled within the Monetary Authority of Singapore (MAS) FinTech Regulatory Sandbox, launched the DigiFT U.S. Treasury Token ("DUST"), offering an on-chain path to accredited and institutional investors to invest in U.S. Treasuries through blockchain. Meanwhile, the U.S. Federal Reserve enhanced its supervision of digital asset activities in commercial banks to foster innovation and uphold sector integrity. This effort coincides with increased regulatory scrutiny on digital asset service providers by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). 

• That’s not all - Toyota's Gazoo Racing division partnered with Toyota Connected North America (TCNA) to introduce personalized digital trophies deployed on the Polygon Blockchain for the GR Cup Series in North America, providing insights into driver statistics, podium finishes, finishing positions, and lap times. Concurrently, Chainlink collaborated with Coinbase to integrate its tools into BASE - Coinbase’s new blockchain - for efficient DeFi app creation using Chainlink's strong price oracle infrastructure. 

• Meanwhile, Jellyfish Mobile, a web3-integrated Mobile Virtual Network Operator (MVNO), launched to provide users true ownership of their wallets, secure ID, and seamless payments, emphasising convenience and user-centricity. Their co-branded eSIM/uSIM technology with prime crypto exchanges (CEX) aims to reshape brand visibility and user loyalty, with a mission to deliver the most cost-effective solutions without compromising on quality or reliability.

  ---

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• The big picture of embedded finance and how it’s taking shape in Canada

• The Unbundling of Finance for SMEs: A Fintech Revolution

• Adyen Beyond Payments – Embedded Finance Playbook

• Stripe's Economic Infrastructure Playbook  

• Revolut's UK Banking Quest  

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

Prepare to immerse yourself in yet another edition of the Worldwide Web3 Wonderland -  a virtual carnival where the magic of blockchain, dazzling wonders of DeFi, and captivating allure of NFTs come together at play!

Before we dive head-first into the world of web3, we have a delightful surprise: our latest post on The Unbundling of Finance for SMEs: A Fintech Revolution!

In the fintech winter, SMEs are emerging as a big opportunity for fintechs. We explore how fintechs are reshaping finance by empowering SMEs with high-interest rates, instant credit lines, and so much more. 

Take me to the blog! 📖

Come along on our journey through the web3 rabbit hole: 

• Worldcoin's decentralized biometric ID protocol has officially launched, allowing users to reserve their share of WLD tokens through the "Orb" biometric device. They partnered with Ramp for global token purchases using local currencies. However, the protocol is currently under investigation by the data protection regulators in France and the UK for its biometric data collection practices.

• A mesmerizing blend of history and innovation made it to the headlines as The British Museum took its treasures to the metaverse! Partnering with The Sandbox, the museum plans to create a collection of NFTs to showcase its vast diversity of artifacts housed within its walls. Meanwhile, motorcycle enthusiasts rejoice as Ducati revs into the web3 world, set to release its first free NFT collectibles on the XRP Ledger. 

• Alchemy Pay seamlessly integrated Checkout.com’s Visa and Mastercard channels into its On and Off-ramp, enabling effortless transactions between fiat currency and cryptocurrency across the globe. Meanwhile, Milano Hub, the Innovation Centre of the Bank of Italy selected the "Institutional DeFi for Security Token Ecosystem Project" to explore possibilities in Institutional DeFi and security tokens. On the other hand, Deloitte and Chainalysis teamed up to help clients navigate the digital asset landscape and stay compliant, offering powerful analytics and forensic investigation tools. 

• Animoca Brands pumped $30M into Hong Kong’s hi, with the partnership expected to lead to deep integration between Animoca Brands’ ecosystem and hi’s innovative services that are driving Web3 mass adoption. Meanwhile, the Avalanche Foundation introduced Avalanche Vista, with a $50M allocation for tokenized assets on the Avalanche Blockchain. Their mission is to build an inclusive financial system by accelerating tokenization and embracing a variety of assets, from traditional to blockchain-native ones.

  ---

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

1. The Unbundling of Finance for SMEs: A Fintech Revolution

2. Adyen Beyond Payments – Embedded Finance Playbook

3. Stripe's Economic Infrastructure Playbook  

4. Revolut's UK Banking Quest  

5. Apple’s Embedded Finance Playbook

6. OakNorth’s Challenger Bank Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

Whether you're a seasoned explorer or a curious newcomer, prepare to be captivated by the wonders of web3 in this electrifying edition of our newsletter. We will be your trusted guide through the labyrinth of decentralized finance, NFT mania, blockchain gaming, and the mind-boggling possibilities of smart contracts. Our goal is simple: to keep you informed, inspired, and one step ahead of the ever-evolving world of web3.

We interrupt our usual segment of delivering the freshest of headlines from the web3 sphere to bring you an enticing treat: our latest blog exploring Adyen's Embedded Finance Playbook!

Both Stripe and Adyen have been dominant forces in the payment processing landscape for quite some time. However, they are now seeking the next major breakthrough to sustain their success. And guess what? They have struck gold with Embedded Finance and are fully embracing this trend!

Uncover how these two industry giants, despite their distinct starting points, are coming together to serve small and medium-sized businesses and leverage embedded finance as their weapon of choice.

Check out our blog for all the details!

Now, for our curated collection of the #Top10 noteworthy web3 news stories of July, ensuring you stay well-informed about the latest developments in the web3 universe:

• Ripple's courtroom triumph against the SEC is a game-changer for the crypto world, bringing much-needed regulatory clarity. The U.S. District Court ruled in favour of Ripple on 3 counts, while 1 went against them. This victory ignited a surge in XRP's value and sparked a frenzy of interest in listing the token. While some legal questions still linger, Ripple's win sends a powerful message about the evolving landscape of digital assets and their legal standing.

• Microsoft and Axelar Network have joined forces to build hybrid blockchain solutions and collaborate on artificial intelligence initiatives, with the goal of creating a more integrated and intelligent web3 ecosystem. By harnessing the cross-chain communication network of Axelar and the expansive Microsoft Azure platform, Microsoft aims to enhance the experiences of both web3 developers and users. Additionally, Google Play has implemented a policy update allowing developers to integrate digital assets, including NFTs, into their apps and games. This change promotes transparency and responsible blockchain utilization, fostering fairness and trust among users. It also signifies Google's support for web3 applications, as demonstrated by the inclusion of ArDrive Mobile and Axie Infinity:Origins in specific markets.

• Coca-Cola Serbia teamed up with Solsea, a Solana-based NFT marketplace, to offer branded merchandise and NFTs at the EXIT Festival. The collaboration includes a “Magic Mirror” installation, exclusive clothing items, and Coca-Cola Serbia-themed NFTs. Similarly, Starbucks partnered with Aku, an NFT collection, to create a digital collectible Stamp, highlighting Starbucks’s dedication to technology innovation and social impact through addressing childhood food insecurity.

• The Bank of England partnered with Nuggets, a decentralized identity technology firm, to develop a privacy and identity layer for the future digital pound. The collaboration aims to prevent transaction tracking, fraud, and money laundering in retail central bank digital (CBDC) payments. Meanwhile, the People’s Bank of China (PBoC) introduced an offline SIM card-based digital yuan “hard” wallet solution, enabling users to make CBDC payments even when their phones are powered down, expanding accessibility to 2G phone users.

• a16z crypto, Andreessen Horowitz's crypto-focused fund and rapper Snoop Dogg participated in a $20M Series A funding round for Sound, a web3 music platform. Sound aims to revolutionize revenue models for artists by allowing them to mint songs as NFTs and sell them directly to fans using Ethereum and Optimism for payments. At the same time, Binance Labs invested $15M in Xterio, a web3 game platform, and Mythical Games raised $37M in Series C1 funding. The web3 revolution is in full swing, transforming the music and gaming industries!

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Web3 Word Of The Week: Verifiable Random Function

A verifiable random function (VRF) is a special type of mathematical function that generates a random-looking output with a proof, allowing independent verification of the output's authenticity and hasn't been tampered with. This unique feature makes the VRF special in its ability to generate accurate and reliable results.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• Adyen Beyond Payments – Embedded Finance Playbook

• Stripe's Economic Infrastructure Playbook  

• Revolut's UK Banking Quest  

• Apple’s Embedded Finance Playbook

• OakNorth’s Challenger Bank Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

While you gear up for an awesome weekend, we've got just the right dose of excitement for you! 

Welcome to our latest edition of the Worldwide Web3 Wonderland newsletter, where we unveil the latest trends and bleeding-edge innovations from - well, you guessed it right - the world of Web3.

Before we take you surfing on the Web3 waves, we have got just the appetizer for you:

Web3 experiments by Stripe! 🔗💳

Curious about what the payments powerhouse Stripe has been up to in the Web3 realm? 

We've got you covered with an exclusive deep dive into their Web3 strategy. 

Go ahead and unlock the secrets of Stripe's Web3 ventures in our exclusive “Stripe’s Economic Infrastructure Playbook” report!

Take me to the report!🚀

We've handpicked the juiciest Web3 highlights from the past two weeks of June, just for you: 

• Animoca Brands joined Celo's blockchain ecosystem to advance Web3 gaming adoption with sustainability and social impact. Meanwhile, NASDEX and Rio Exchange teamed up, empowering NASDEX to provide licensed security products and services like tokenised securities, equities, options, etc. 

• In a dazzling collision of technology and imagination, WhatsApp unveiled an extraordinary feat: the seamless integration of their renowned messaging platform with Meta Quest VR devices. Users now have the power to traverse the boundary between reality and virtual realms, bringing their messaging experience to life in the captivating world of virtual reality.  Meta also furthered its web3 agenda by introducing a subscription model for their Quest+ VR headset at $7.99/month or $59.99/year, offering two VR titles monthly and a special introductory offer. 

• In the business world, SAP reimagined the realm of cross-border payments by introducing a Digital Currency Hub, empowering users with the ability to engage in global transactions using stablecoins like USDC and EUROC issued by Circle. Sygnum and Ripple's Singapore subsidiary equally made waves in the world of regulated digital services - Sygnum expanded its operations in Singapore, now providing crypto brokerage services after receiving approval for its Major Payment Institution Licence application from the Monetary Authority of Singapore (MAS). Meanwhile, Ripple's Singapore subsidiary obtained In-Principle Approval for a Major Payments Institution License from MAS, allowing them to expand their regulated digital payments and on-demand liquidity services.

• Summing up on a few exciting developments, Parfin, a leading Latin American provider of compliant Web3 infrastructure services, secured investment from Accenture Ventures. This partnership aims to fast-track institutional adoption of Web3 technology. Meanwhile, Xapo Bank set its sights on India and South Asia, bringing a host of crypto services to the region. Offering enticing features like USD offshore savings with a 4.1% interest rate and a Bitcoin wallet with a 1% interest rate on deposits. 

• And finally some good news from the U.S. Securities and Exchange Commission (SEC) for the US Crypto world - The SEC approved Volatility Shares’ 2x Bitcoin Strategy ETF (BITX), introducing the first leveraged Bitcoin futures ETF in the United States.

  ---

Web3 Word Of The Week: Ethereum Virtual Machine (EVM)

EVM (or the ‘Ethereum Virtual Machine’) is a software environment that executes smart contracts on the Ethereum blockchain. It is the backbone of the Ethereum network, responsible for executing all operations and transactions on the blockchain.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• Stripe's Economic Infrastructure Playbook  

• Revolut's UK Banking Quest  

• Apple’s Embedded Finance Playbook

• OakNorth’s Challenger Bank Playbook

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

As we enter yet another enjoyable weekend, it's the perfect opportunity to delve into the captivating world of Web3 and discover the exhilarating events that have taken place. This dynamic digital environment never ceases to surprise us with its infinite possibilities, attracting the interest of institutional investors who are eagerly delving into its extraordinary potential. Which is why we bring you the freshest edition of the WWW newsletter, serving as your trusted companion to keep you updated on all the happenings in this ever-evolving domain!

Last week Apple announced the ability for businesses to accept digital IDs in the Apple Wallet to verify personal information. This opens up a whole new realm of use cases for ID verification in various scenarios – going to a bar, a concert, or renting a car.

Apple's vision to become your actual wallet, but just digital, is very real and slowly taking shape. So is its vision to become an embedded finance powerhouse with Apple Pay, Apple Card, savings accounts, and more.

Looking to understand this vision more clearly? Well, we've got the analysis all ready for you. Check out Apple's Embedded Finance Playbook now.

Take me to the Report! 🚀

Back to regular programming now – sit back and relax, as we ensure you don't miss a beat via our handpicked selection of the top 10 highlights from the web3 world:

• Witnessing the convergence of innovation and art, Alchemy Pay and Mastercard teamed up to unveil NFT Checkout- a direct payment solution for digital artwork that empowers NFT enthusiasts worldwide to effortlessly purchase and transact with digital collectibles. Meanwhile, Alibaba’s e-commerce platform AliExpress plans to launch NFTs in partnership with NFT project the Moment3. 

• Powerhouses in the digital realm witnessed a fusion of collaborations as Tencent Cloud joined forces with Chainlink Labs, fostering the growth of the Web3 ecosystem and NASDEX formed a strategic partnership with Rio Exchange, enabling NASDEX to provide licensed security products and services through their platform. In another groundbreaking collaboration, Zodia Custody, a subsidiary of Standard Chartered Bank, teamed up with Blockdaemon to offer institutional clients a secure crypto-staking solution, capitalising on Ethereum's transition to proof-of-stake.

• Embracing a new era of seamless financial transactions, Xapo Bank, a licensed private bank, joined forces with the SEPA network, opening up a world of effortless Euro fund transfers for its valued members.

• Circle Singapore obtained a major payment institution licence from the Monetary Authority of Singapore. This milestone empowers Circle Singapore to provide cutting-edge digital payment token services and seamless money transfer solutions in Singapore while Bank of China's investment bank, BOCI, pioneered the issuance of fully digital structured notes worth $28 on the Ethereum blockchain, marking a historic milestone as one of the first Chinese institutions to issue tokenised securities in Hong Kong.

• Summing up developments in the legal realm, the Securities and Exchange Commission (SEC) filed a lawsuit against Binance and Coinbase, while also declaring 13 tokens, including Solana, Polygon, and Cardano as securities, while the U.S. Commodity Futures Trading Commission (CFTC) emerged victorious in a lawsuit against Ooki DAO for their involvement in offering unregistered commodities.

  ---

Web3 Word Of The Week: Proof-of-Stake

Proof-of-stake is a consensus mechanism, which makes sure that only legitimate transactions get added to blocks. It is a method of maintaining integrity in a blockchain, ensuring users of a cryptocurrency can’t mint coins they didn’t earn.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include – 

• Stripe's Economic Infrastructure Playbook  

• Revolut's UK Banking Quest  

• Apple’s Embedded Finance Playbook

• OakNorth’s Challenger Bank Playbook

• Fintech valuation dip – Correction or crash?

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

As we embark upon another delightful web3 weekend, it's time to dive into the captivating world of Web3 and uncover the thrilling events that have unfolded. This dynamic digital landscape continues to astound us with its endless possibilities, capturing the attention of institutional investors who are eagerly delving into its remarkable potential. Which is why we bring you the freshest edition of the WWW newsletter, serving as your trusty guide to all the happenings in this ever-evolving domain!

Sit back, relax, and allow us to keep you in the loop with all the scintillating details via our handpicked selection of the top 10 highlights:

• It’s been a moment of groundbreaking collaborations in the web3 arena – Coinbase and Bitpanda joining forces to connect Coinbase with banks in Europe who are looking to offer digital assets to their customers via Bitpanda Technology Solutions. Meanwhile, Tech Mahindra and EarthID teamed up to co-create a blueprint for a Self Sovereign Identity (SSI) powered Metaverse platform that will provide users control over their data and consent, granting them the keys to unlock a boundless realm of digital experiences and interconnected possibilities.

• Rippling through the bulletin, Ripple was in the news for its plans to participate in Hong Kong Monetary Authority’s digital Hong Kong dollar (e-HKD) CBDC pilot program by showcasing a real estate asset tokenisation solution via a partnership with Taiwan’s Fubon Bank and others. The company will reveal its new CBDC platform at the same time.

• Amidst remarkable revelations, Andreessen Horowitz (a16z) introduced a Solidity library called "Cicada" for anonymous voting on the Ethereum blockchain. This innovative tool relies on time-lock puzzles to encrypt the contents of votes until the conclusion of the polling period. Solid World opened forward carbon liquidity pools that allow the purchase of mangrove-based carbon credits on an automated market maker, supported by Polygon's blockchain.

• Fundings poured in for web3 players the past few weeks, with Tools for Humanity raising $115M in a Series C funding round led by Blockchain Capital to accelerate research and development and growth efforts on the Worldcoin project and the World App, and Wallet-as-a-Service provider Magic raising $52M in funding led by PayPal Ventures to continue to deliver more value to their customers by enabling an array of web3 use cases

• Summing up exciting developments in the world of blockchain and virtual assets, Solana successfully integrated AI into its blockchain by leveraging the ChatGPT plugin and increased the funding for grants exploring the intersection of the Solana blockchain and AI to $10M. Hong Kong’s Securities and Future Commission announced that it will accept licence applications from virtual asset trading platforms that agree to follow the SFC's guidelines, which would then be able to serve retail investors. Meanwhile, Crypto.com achieved a significant milestone by obtaining a major payment institution licence for digital payment token (DPT) services from the Monetary Authority of Singapore.

  ---

Web3 Word Of The Week: Self Sovereign Identity (SSI)

Self-Sovereign Identity (SSI) is a model that gives individuals and businesses full ownership and control of their digital identities without relying on a central authority, giving users complete authority over how their personal information is stored and used. 

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include –

• OakNorth’s Challenger Bank Playbook 

• Apple’s Embedded Finance Playbook

• Fintech valuation dip – Correction or crash? 

• WhatsApp says hello to the banking & payments world in emerging markets 

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

Embrace the enchantment of the weekend as we unveil the next chapter of our Worldwide Web3 Wonderland. Step into a virtual oasis where visionaries and innovators unite, guiding you through the mesmerising realms of the ever-evolving web3 landscape, as they carve a bold path towards an extraordinary future adorned with captivating web3 applications!

Step into the extraordinary world of OakNorth, a fintech trailblazer that has revolutionised the industry with its unparalleled business model.

Over the course of its 10 years, OakNorth stands tall, driven by a strategy that ensures not only profitability but also scalability and remarkable growth.

What's their secret? OakNorth has cracked the profitability code by seamlessly blending its lending operations to mid-corporate clients in the UK with the licensing of their cutting-edge technology to banks across the US, Europe, and Asia.

Uncover the captivating tale behind OakNorth's journey, delve into its secret formula that fuels its unrivalled growth, and witness firsthand how they continue to redefine the boundaries of success in every aspect of its enterprise.

Get ready to surf through our carefully curated collection of the top 10 highlights that will leave you spellbound by the wonders of the web3 world:

• The convergence of innovation and possibility heralds a new era as Alibaba Cloud joined forces with Avalanche, crafting a blockchain-based metaverse exclusively tailored for businesses within the Alibaba ecosystem. Meanwhile, the Royal Government of Bhutan's commercial arm, Druk Holding & Investment, forged an eco-conscious alliance with Bitdeer to develop environmentally sustainable, carbon-free digital asset mining in Bhutan. 

• Revolutionising the crypto experience, Nilos and Modulr united to offer virtual EU IBANs for crypto-engaged companies, while Worldcoin introduced the World App, a crypto wallet enabling seamless crypto token transfers via Polygon. 

• Embracing the dawn of a transformative era, Standard Chartered forged an alliance with Dubai International Financial Centre (DIFC), jointly shaping the future of digital assets, and encompassing the realm of digital asset custody. Simultaneously, Digital Asset unveiled Canton Network, a privacy-enabled interoperable blockchain network designed to provide a decentralised infrastructure for institutional clients, with participants including Deloitte, Goldman Sachs, BNP Paribas, S&P Global, and Microsoft, amongst others.

• The collaboration between Warner Music Singapore and Affyn teamed up to ignite new possibilities for artists and audiences in the gaming industry by creating unique experiences, while MakerDAO launched Spark – a groundbreaking marvel that aims to usher in a new era of lending and borrowing. With an unwavering focus on users, this protocol offers flexible rates without the need for collateral along with a unique auction system.

• Concluding the latest developments on a few noteworthy fronts, we had Ripple securing the acquisition of Metaco for a staggering $250M, propelling its tokenised asset services to unprecedented heights as it expands to the Middle East with a new Dubai office, and ZkLink raising $10M from investors, including Coinbase Ventures, to drive its mainnet launch in the third quarter.

  ---

Web3 Word Of The Week: Ethereum Virtual Machine

The Ethereum Virtual Machine (EVM) is the computation engine for Ethereum that manages the state of the blockchain and enables smart contract functionality after each new block is added to the chain.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include –

• OakNorth’s Challenger Bank Playbook

• From iPhone to iBank: Analysing Apple’s Embedded Finance Adventures

• Apple’s Embedded Finance Playbook

• Generative AI in Finance and Beyond

• The State of Banking-as-a-Service in the UK & Europe in collaboration with Toqio

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

To enhance your weekend experience, we come prepared with the latest instalment of our Worldwide Web3 Wonderland, a virtual oasis that will guide you through the latest developments in the ever-evolving web3 landscape, as an increasing number of visionaries and innovators unite to build a future of web3 applications!

Get ready for a thrilling adventure as we take you on a ride through the many web3 initiatives with our top 10 highlights:

• It was a pivotal moment for blockchain-based payments in the past few weeks, with Sardine AI and Fortress Trust announcing a partnership to bring together the unique strengths of each company to provide safer, faster, and compliant ePayments worldwide, and Mastercard teaming up with Aptos Labs and other web3 partners to create a solution that could be used to securely verify transactions in payments, remittances, ticketing and NFTs, among others.

• Ramping up on accessibility, digital identity protocol Ethereum Name Service (ENS) joined forces with MoonPay to create a fiat on-ramp for users interested in purchasing an .eth domain name, while Microsoft and Space and Time collaborated to make blockchain data accessible on the Azure Marketplace, giving Azure customers an accelerated on-ramp to easily access, manage and perform analytics on blockchain-native data.

• Polygon Labs grabbed not one but two headlines – as Google Cloud announced a multi-faceted partnership with Polygon Labs to allow developers on Polygon Network to access Google Cloud servers, and Franklin Templeton expanded its Franklin OnChain U.S. Government Money Fund on the Polygon blockchain for processing transactions and recording share ownership.

• Turning up the NFT game, Animoca Brands and its subsidiary Lympo, a leading global sports NFT ecosystem, announced a partnership with Ultimate Fighting Championship (UFC) champion Rose Namajunas to deliver The Collectors Challenge, ‘Create Your Own Fighter with Thug Rose’, a DigiSport collectible NFT project. At the same time, Blockdaemon, the global leader in web3 infrastructure, rolled out its digital asset wallet, Blockdaemon Wallet – built for institutional treasury, trading, and custodial services to enable banks, custodians, and exchanges to securely self-host digital assets in online wallets.

• Ending the updates on some milestone-worthy events, Uniswap outperformed Coinbase in terms of trading volume, reaching $1.5T. Uniswap‘s daily active users have also risen to approximately 85,000, a significant increase from May 2021. Meanwhile, Pine Labs announced the acceptance of the digital Rupee on its PoS (point-of-sale) terminals in partnership with ICICI Bank, opening up exciting opportunities that, if implemented correctly, can help accelerate the migration from paper-based currency to digital.

Web3 Word Of The Week: Crypto on- and off-ramps

A crypto on-ramp serves as a gateway for transferring economic value from fiat currency to cryptoassets. In other words, it is the conversion of fiat into crypto. Conversely, a crypto off-ramp enables the transfer of economic value from cryptoassets back to fiat money, or in simpler terms, converting one's cryptocurrency holdings into fiat currency.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include –

• The State of Banking-as-a-Service in the UK & Europe

• Cracking the profitability code of successful digital banks

• The State of Embedded Finance (Q1 2023)

• Fintech Ecosystem Ripples: Analysing the Echoes of SVB's Collapse

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

As the weekend dawns upon us, it's time for yet another exhilarating chapter of the boundless expanse through the latest edition of the Worldwide Web3 Wonderland. This ever-expanding realm of wonders never ceases to amaze, and the momentum only intensifies as institutional investors flock to explore its boundless potential now more than ever. Let's dive in and discover what new marvels await us!

Here are the Top 10 highlights of the industry's endeavours as they harness the power of emerging technologies to extract optimal efficiency:

• Making a splash in the crypto realm, Ralph Lauren grabbed headlines for accepting a variety of cryptocurrencies at its trendy Miami Design District store via a partnership with BitPay. Driving the crypto scene forward, the London Stock Exchange Group teamed up with Global Futures and Options (GFO-X) to offer regulated trading and clearing in bitcoin index futures and options derivatives.

• While on the topic of regulation, the German government was in the news for its plans to introduce more accommodating regulations for financial innovation startups under the ‘Future Finance Act’, which talks about more digitisation of capital markets through new financial innovations such as the issuance of digital securities via blockchain.

• Banks were also seen to be jumping on the blockchain bandwagon – with Citi India completing its blockchain-enabled Letter of Credit (LC) transaction on Contour for its client Cummins India Limited (Cummins) to advance its trade digitisation efforts and further enhance the client experience, and Abu Dhabi Islamic Bank (ADIB) going live on the UAE’s KYC (Know Your Customer) Blockchain Platform to develop onboarding operations and providing more secure ways of handling and exchanging data.

• Covering the news bulletin with some scrumptious NFT toppings, pizza chain Papa Johns launched its NFT in OneRare’s Food Metaverse, unveiling its exclusive collection of digital collectibles to global fans. Singing to the tune of NFTs was also Mastercard, which launched NFTs that grant access to the Mastercard Artist Accelerator program, designed to support emerging musicians. Developed in collaboration with Polygon, the NFT project highlights Mastercard’s intent to embrace Web3 technologies.

• With the aim of helping organisations with their liquidity and core business activities, Maple Finance launched its new T-Bill cash management pool for US Treasury Bills to allow accredited web3 investors to park their idle funds in its pool for direct access to Treasury bill yields, while Ripple introduced its enterprise-oriented cryptocurrency liquidity platform “Ripple Liquidity Hub,” which seeks to give organisations a simple and seamless approach to handling their cryptocurrency liquidity requirements. At the same time, Uniswap Labs also secured a spot in Apple’s App Store for their Wallet app, currently live for users in select countries, allowing them to trade crypto assets as well as buy and explore different cryptocurrencies.

Web3 Word Of The Week: Tokenised Securities

A tokenised security is a digital representation of a security on the blockchain. It is a tradable, blockchain-based financial asset which represents an investment in another asset, like a stock or a piece of property. Tokenised securities can operate more efficiently than traditional securities, as they reduce the cost associated with processing transactions, reduce the need for middlemen, and decrease settlement times.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include –

• Cracking the profitability code of successful digital banks

• The State of Embedded Finance (Q1 2023)

• Fintech Ecosystem Ripples: Analysing the Echoes of SVB's Collapse

• The State of Fintech Infrastructure - Jan-Feb 2023 Roundup

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

With Easter approaching, let us sprinkle some extra sweetness into your celebration by presenting the latest web3 wonders that are sure to satisfy your appetite for innovation. Feast your eyes on the exciting initiatives being undertaken by industry players as they weave a new narrative that blurs the lines between the physical and digital realms.

Here are the Top 10 highlights of the week that showcase how industry players are awakening to the growing significance of web3 as an integral component of the financial system:

• Customer relationships came out on top as a priority the past week, with Salesforce announcing Salesforce Web3, a platform for its clients to develop NFT loyalty programs, and TYB launching on the Shopify App Store as it brought its end-to-end web3 community-powered loyalty solution to merchants through an Avalanche-based platform.

• Joining in on the reward spree were also Bitcoin Rewards App Fold and Visa, who expanded their ongoing partnership to enter new regions while empowering existing local financial service companies to launch their own Bitcoin rewards through the Fold infrastructure. 

• Supporting ClearToken’s ambition to build a central counterparty, Laser Digital invested in the digital asset clearing house, incubating the venture that aims to remove bilateral counterparty risk for settlement, financing and derivative transactions.

• Wallets were all the charm last week – while Mastercard collaborated with Australian stablecoin platform Stables to launch a stablecoin wallet for customers in the APAC zone to be able to flexibly swap their fiat money or digital currency into USDC for regular spending, Animoca Brands and Hex Trust joined forces to launch an NFT-centric custodial wallet joint venture called Gryfyn that offers a secure, reliable and stress-free environment to store, interact with, and acquire digital assets.

• Speaking of wallets, self-custody wallet MoonPay and MetaMask collaborated to enable users in Nigeria to start self-custody cryptocurrency purchases with MetaMask Mobile and Portfolio Dapps without the need for centralised exchange tools. Another alliance that stole the limelight was that of Techstars London and Polygon Labs, who came together to launch a web3 cohort, a web3-focused accelerator programme in the UK comprising 12 ambitious startups leveraging web3 technologies.

• Gucci and Yuga Labs also made the bulletin for their partnership on a new metaverse project. The two companies have signed a multi-year partnership that will involve Gucci creating clothing for Yuga Labs’s metaverse project, the Otherside, and in NFT collection 10KTF.

• On the regulatory front, The Commodity Futures Trading Commission (CFTC) officially classified Litecoin as a digital commodity, where the cryptocurrency will now be regulated by the CFTC in the same way as other commodities such as oil and gold.

Web3 Word Of The Week: Hash (Not the one served in breakfast)

A hash function in cryptography is a mathematical algorithm that converts plaintext to a unique text string or a ciphertext. It is a unique identifier for any given piece of content. Hashing is a way to ensure that any data you send reaches your recipient in the same condition that it left you, completely intact and unaltered.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include –

• Fintech Ecosystem Ripples: Analysing the Echoes of SVB's Collapse

• The State of Fintech Infrastructure - Jan-Feb 2023 Roundup

• J.P. Morgan's Fintech Frontier: Collaboration, Diversification, and Innovation

• Virtual Assets, Real Opportunities: Financial Institutions’ Metaverse Exploration

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

The weekend is finally here, as is the new edition of the Worldwide Web3 Wonderland, and this time around, we’ve got a chock-full of breakthroughs from the world of decentralisation. Innovative payment solutions gained ground last week, with industry participants exploring digital asset opportunities in contextualised commerce through collaborations and fresh ideas.

Now, for the Top 10 picks of the week to keep you informed and up-to-date on all things web3 –

• Keeping customer loyalty at the forefront, Brazil-based Nubank partnered with Polygon to expand the reach of its Nucoin loyalty programme to around 70 million customers. Customers will reportedly have the option to freeze or even exchange their Nucoins for cash or other benefits in the future.

• Expansion was also on the mind of Coinbase, which entered Singapore in partnership with Standard Chartered as it prepares to ramp up its global outreach. At the same time, National Bank Australia (NAB) completed an intra-bank cross-border transaction using its own minted stablecoin conducted in concert with Fireblocks and Blockfold.

• Empowering merchants to equip themselves for a blockchain-enabled future, Worldline launched a strategic initiative, supported by Solana Foundation, allowing providers to route payments automatically while offering the lowest fees and highest conversion. Circle was also banking on partnerships the past week – it selected Cross River Bank as its new commercial banking partner for producing and redeeming USDC, while also expanding its partnership with other banking partners to assist with USDC redemption, including Bank of New York Mellon (BNY Mellon).

• Funding activities took centre stage last week, with Ethereum Layer 2 network Scroll raising $50M at a valuation of $1.8B, JPMorgan-backed Tilia securing fresh capital from Seoul-based fintech Dunamu, crypto payroll startup Toku raising $20M in a funding round to accelerate global expansion and scaling, and Saudi Arabia’s NFT marketplace platform Nuqtah raising a seed round of funding led by Animoca Brands with participation from Polygon and regional investors.

• Animoca Brands Japan also grabbed headlines for investing in Delaware-based entertainment company Rainshine Global Inc. with the aim to build a gateway for Japanese intellectual properties (IPs) to reach new global markets.

  ---

Web3 Word Of The Week: Zero-knowledge Rollups

Zero-knowledge rollup (ZK-rollup) is a layer-2 scalability solution that works by using both on-chain and off-chain processes to validate transactions quickly and reduce gas fees while storing the transaction data on-chain on a layer-1 network. This greatly increases transaction throughput while inheriting the security of the base-layer (layer-1) network they are connected with for settlement.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include –

• The State of Fintech Infrastructure - Jan-Feb 2023 Roundup

• J.P. Morgan's Fintech Frontier: Collaboration, Diversification, and Innovation

• The State of Open Finance - Jan-Feb 2023 Roundup

• Virtual Assets, Real Opportunities: Financial Institutions’ Metaverse Exploration

If you're someone who likes to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

Prepare to indulge in a weekly fix of Web3 wonderment, as we showcase how industry leaders are dedicating their efforts to venture into the realm of blockchain-based services.

Now, for the magnificent marvels of the Web3 wonderland!

The Top 10 groundbreaking highlights of the week that showcase the revolutionary nature of this digital wonderland — 

• Immersing itself into the decentralised web, Mastercard partnered with Immersve, a Web3 payment protocol and end-end crypto card issuing platform, to enable its users to pay using crypto on digital, physical, and the Metaverse worlds. Joining the web3 oasis was also SoftBank Corp., which joined game-focused blockchain Oasys as a validator to tap into the real value of blockchain when it comes to video games.

• The Sandbox, too, aims to empower the creator generation to build engaging and fun forms of experiences with a focus on social features, multiplayer, and game-making through its acquisition of German developer Sviper. Sviper adds development, engineering, and creative talent to the Sandbox’s team through the deal.

• Revving up the interest in NFTs, luxury sports car manufacturer Automobili Lamborghini teamed up with NFT marketplace VeVe to release a limited edition of digital collectables for its cars. At the same time, eBay’s NFT marketplace KnownOrigin announced the launch of a creator smart contract for artists.

• With the aim of unlocking the institutional market for tokenised assets, U.S. Bancorp invested in digital assets fintech Ownera, where the funding will be used to accelerate Ownera’s deployment of a global interoperability network. Galaxy Digital also closed a $44M acquisition of institutional self-custody platform GK8, a purchase that will help build out GalaxyOne, the previously launched platform that will offer a wide range of financial services for institutions, including trading, lending, derivatives, cross-portfolio margining, and a number of custodial options.

• Taking things on a different course, cryptocurrency custody firm BitGo filed a lawsuit against Galaxy Digital, seeking more than $100M in damages as it alleges that Galaxy Digital intentionally breached the firms' $1.2B merger agreement.

• Partnerships certainly came out on top the past week as industry participants united to present distinctive offerings: Cash App integrated TaxBit’s cryptocurrency tax and accounting software into its offerings to make it easier for Bitcoin owners to file their taxes; ICONOMI announced a new deal with Elliptic for AML capabilities and real-time crypto wallet screening; and Circle announced plans to partner with Citizens Trust Bank to broaden their partnership to include the entire Atlanta area, focusing on efforts for digital financial literacy and financial inclusion for its clients.

Web3 Word Of The Week: Flash Loan

Flash loans are a type of loan where a person can borrow money without having to provide any assets or collateral as security. There is no limit to how much they can borrow, and they have to return the money they borrowed in the same transaction. However, if they can't pay back the loan before the transaction is completed, a special computer program called a "smart contract" will automatically cancel the transaction and return the money to the person who loaned it. This is to ensure that the lender does not lose their money.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include our annual Fintech Roundups of 2022, with a lot more left to come –

• The State of Banking-as-a-Service | Fintech Roundup 2022

• Banking on consequences: Penalties imposed on financial institutions

• The State of Open Finance I Fintech Roundup 2022

• The State of Green Finance I Fintech Roundup 2022

• The State of Embedded Finance | Fintech Roundup 2022

• The State of Digital Finance | Fintech Roundup 2022

If you're someone who prefers to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, reach, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything Fintech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

The latest edition of our worldwide web3 update is here with some intriguing and groundbreaking breakthroughs from the world of the decentralised web!

We've scoured the far corners of the web3 universe to bring you the Top 10 headlines of the week — 

• Plugging into Visa’s global network, Wirex signed a long-term strategic partnership with the payments company, becoming a member of Visa in APAC and the UK to directly issue crypto-enabled debit and prepaid cards to over 40 countries. At the same time, Banxa integrated with MetaMask to simplify on-and-off ramping fiat to crypto, enabling users to have Alternative Payment Methods (APMs), lower fees, and a secure and regulatory-compliant payment channel.

• Prioritising the fan community, UK’s premier basketball team London Lions teamed up with BitPay to work towards a community-led programme of knowledge sharing and practical experience around cryptocurrency and effective money management.

• The hype for digital assets and immersive experiences was observed to be reaching new geographies, with The Sandbox signing a memorandum of understanding (MOU) deal with the Saudi Arabia Digital Government Authority (DGA) to explore metaverse initiatives. OpenSea also made a splash in the headlines by releasing the next phase of its Drops feature, allowing select creators to include multi-stage minting phases and personalised landing pages for their NFT releases. Taking its NFT ecosystem growth to the moon, LooksRare announced a multi-year agreement with MoonPay that will enable its users to buy and sell cryptocurrencies exclusively through MoonPay.

• In a turn of events, Microsoft (MSFT) ended a project that aimed to encourage the use of the metaverse in industrial environments just four months after it was formed. The company wants to prioritise shorter-term projects over those needing longer to generate meaningful revenue. Meanwhile, The United Kingdom Tax Reform Council launched a campaign against the Bank of England’s plan to introduce a central bank digital currency (CBDC), warning that such a move could seriously harm individual privacy and lead to intrusive changes to the taxation system.

• Aave was in the news for not one but two events the past week: It deployed its native stablecoin GHO on Ethereum’s Goerli testnet, Aave Companies, joining an increasingly competitive space as rival DeFi protocols are also moving to release their own protocol-native stablecoins. Speaking of which, MakerDAO introduced Spark Protocol – a fork of Aave's version 3 (v3) and a potential rival – which is a  front-end app that will allow users to interact with DAI in the form of borrowing, lending and staking.

Web3 Word Of The Week: Testnets

Testnets are alternative blockchains that developers use to test their code and new features before deploying them on the main blockchain network. They also help identify bugs and security vulnerabilities that could cause problems if they were deployed on the main network.

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more fintech insights, check out some of our other work at WhiteSight. 

Our latest publications include our annual FinTech roundups of 2022, with a lot more left to come –

• The State of Banking-as-a-Service | Fintech Roundup 2022

• Banking on consequences: Penalties imposed on financial institutions

• The State of Open Finance I Fintech Roundup 2022

• The State of Green Finance I Fintech Roundup 2022

• The State of Embedded Finance | Fintech Roundup 2022

• The State of Digital Finance | Fintech Roundup 2022

If you're someone who prefers to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, reach, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

February has arrived with a burst of warmth and vibrant colours, providing the perfect opportunity to bask in its peacefulness while catching up on the latest Web3 marvels of the week!

Buckle up! We’re now entering the arena of the Top 10 headlines, straight from the source to keep you informed on the freshest updates from the web3 front lines  —

• Building a foundation of trust and transparency is crucial more than ever in the web3 realm, with various players determined to secure their digital assets. DekaBank selected METACO’s custody and orchestration platform Harmonize™ to create new services that are secure, compliant, and future-proof. EU-based Solvo Finance also announced its plans to integrate Fireblocks to create new blockchain-based products and manage digital assets securely, giving users confidence in their assets' security and control.

• DekaBank was also in the news for a move involving an investment in its SWIAT blockchain platform, initiated by a joint venture combining the strengths of SC Ventures, Landesbank Baden-Württemberg (LBBW), and Comyno. The participants hope to provide software that will create a decentralised financial infrastructure and frictionless, real-time settlement in multiple use cases.

• At the same time, Circle made headlines for tapping Deloitte as a new auditor for audits on its proof of reserves – making the switch from Grant Thornton – as various accounting firms have exercised caution over audits of crypto companies. Circle is also coming closer to implementing its Cross-Chain Transfer Protocol (CCTP), designed to support USDC-based programs that are more scalable, effective, secure, and user-friendly.

• The imaginative segment of virtual worlds is gaining traction again, with UOB capitalising on the growing interest in the metaverse with the launch of SkyArtVerse — a virtual art gallery exploring the intersection between art and technology. Sorare signed a four-year licensing partnership with the Premier League, enabling Sorare users to find all 20 clubs on the NFT-based fantasy sports gaming platform.

• Adding to the theme of interactivity, ConsenSys announced its newest initiative – MetaMask Learn – a free-to-use resource available in 10 languages for anyone interested in learning about web3. 

• Building the bridge between traditional finance and the crypto realm were also two prominent events – Visa listed Alchemy Pay as an Official Service Provider, being registered to conduct merchant solicitation, sales, customer service, merchant transaction solicitation or merchant training activities; while Tap Global Group launched its Cards-as-a-Service B2B Product with Bitfinex as the first client, enabling more such innovative businesses to offer their customers a prepaid Mastercard to enhance their existing financial offering.

Web3 Word Of The Week: Cross-chain Protocol

A cross-chain protocol is like a bridge that connects different blockchain networks. It allows information and assets to be transferred between these networks, without having to go through a middleman. This allows different blockchain systems to work together and helps make the entire blockchain ecosystem more flexible and secure.

Take a bite out of this Web3 treat🍩 with a peek into the “A Decentralized Data Storage System and Economy” – https://www.bnbchain.org/en/greenfield 

That's all for now!🤘

We hope you enjoyed this edition of the Worldwide Web3 Wonderland!

If you're hungry for more FinTech insights, check out some of our other work at WhiteSight. 

Our latest publications include our annual Fintech Roundups of 2022, with plenty more fintech awesomeness ahead –

• The State of Banking-as-a-Service | Fintech Roundup 2022

• Banking on consequences: Penalties imposed on financial institutions

• The State of Open Finance I Fintech Roundup 2022

• The State of Green Finance I Fintech Roundup 2022

• The State of Embedded Finance | Fintech Roundup 2022

• The State of Digital Finance | Fintech Roundup 2022

If you're someone who prefers to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, reach, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

The newest edition of the Worldwide Web3 Wonderland has arrived, bringing with it some delightful developments in the space to help kick off the new year on a positive note!

Speaking of which, we have decided to lower our frequency of roll-outs owing to the market conditions. But hang in there; we’ll be back again with a bang as the space picks itself up. If you are interested in weekly updates on the decentralised world, we keep track of the DeFi segment in our Future of Fintech Newsletter, released every Tuesday! 

Here’s serving the Top 10 news headlines, fresh-off-the-press to keep you in the loop of everything web3 — 

• Encouraging web3 adoption, Mastercard tapped Polygon for its Mastercard artist accelerator program to teach emerging artists blockchain tools and help grow their brand and fan engagements. At the same time, JennyCo partnered with Polygon to leverage its blockchain technology for its healthcare data exchange platform.

• Turning a corner, ABN Amro issued its first digital bond on a public blockchain in partnership with Fireblocks and BitBond.

• DeFi lender Credefi teamed up with Experian to expand Credifi’s reach of institutional-grade clients and provide a green company scoring service. 

• Matrixport chose Chainalysis for compliance, fraud monitoring and risk assessment services.

• Removing friction from user experience, Huobi partnered with Solaris to launch a crypto-to-fiat debit card for easy spending.

• Digital asset investing reached a new frontier as BlackRock added Bitcoin (BTC) to its Global Allocation Fund, allowing retail investors to gain additional BTC exposure.

• Moving on to NFTs, Yuga Labs, the company behind Bored Ape Yacht Club (BAYC), announced plans to expand its NFT ecosystem with free minting options and a skill-based game called Dookey Dash. Meanwhile, Shopify enabled NFT minting and selling for merchants directly at their storefronts via Venly.

• Lastly, Ava Labs partnered with AWS to support its avalanche infrastructure and dApp ecosystem.

Web3 Word Of The Week: Beacon Chain

The Beacon Chain was the name of the original proof-of-stake blockchain that was launched in 2020. It was created to ensure the proof-of-stake consensus logic was sound and sustainable before enabling it on Ethereum Mainnet. Therefore, it ran alongside the original proof-of-work Ethereum.

Don't forget to check out this Web3 delight 🍩 over the weekend for a peek into the Web3 realm – https://polygon.technology/lightpaper-polygon.pdf.

That's all for now!🤘

We hope you enjoyed this edition of the Weekly FinTech Brew!

If you're hungry for more FinTech insights, check out some of our other work at WhiteSight. 

Our latest publications include our annual FinTech roundups of 2022, with a lot more left to come –

• Trusting The Trustless: 2022 Crypto Shutdown & Hacks

• The State of Open Finance I Fintech Roundup 2022

• 2022 FinTech M&A Roundup: Economic Climate Driving Industry Consolidation

• The State of Open Finance I Fintech Roundup 2022

If you're someone who prefers to read think pieces, you will likely love our monthly blog, Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, reach, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️

The latest edition of the Web3 Weekly Wonderland is here to enliven the week, right in time for the holidays that are just around the corner!

Speaking of holidays🎄, this edition will be our last one for 2022, and we will see you back again in the new year with our weekly Web3 briefs. Wish you all a happy holiday season! ✨

The week's Top 10 news from the decentralised world

• The NFT world got some propulsion last week as Selfie.Live collaborated with musician Lee Brice to create digital memories for the fans on tour and provide them with special NFTs.

• Revel raised $7.8M in seed funding to develop an easy and efficient all-in-one social trading platform for NFTs enthusiasts. 

• Community members of Uniswap DAO voted unanimously in favour of altering the governance structure within the ecosystem. Whereas, Ethereum Name Service (ENS) DAO members voted to elect the stewards for the Meta-Governance, ENS ecosystem, and the Public Goods working groups for 2023.

• Uniswap teamed up with MoonPay to enable the purchase of digital assets on the Uniswap Web App for anyone using a fiat credit card, debit card, or bank transfer across the Ethereum mainnet, Polygon, Optimism, and Arbitrum. 

• Lamina1 launched a rolling fund to provide capital-raising tools for Web3 builders working on open metaverse ventures and provide access to global investors to such projects at the ground level.

• Rising from the ashes of the Terra crash, Solana-based perpetual swaps trading protocol Drift has launched a new Version 2 to provide a one-stop-shop crypto exchange for all types of DeFi transactions. 

• Meta plans to allocate 20% of its total budget in 2023 to Reality Labs, its AR/VR business division, despite criticisms of the metaverse.

• Visa has developed a smart contract application on the Ethereum blockchain that could enable automated bill payments through a bank account.

• Affinidi and FilPass signed a Memorandum of Understanding to avoid fake identification claims and establish and issue verifiable credentials in the Philippines.

Web3 Word Of The Week

cTokens: One can define tokens in C as the smallest individual elements in a program that is meaningful to the functioning of a compiler. A token is the smallest unit used in a C program. Each and every punctuation and word that you come across in a C program is a token.

Don't forget to check out this Web3 delight 🍩 over the weekend for a peek into the Web3 realm – Visa Crypto Thought Leadership – Auto Payments. 

That's all for now!🤘

If you're hungry for FinTech insights, check out some of our other work at WhiteSight. 

Our latest publications include a glimpse at the tokenisation of assets in 2022 in Asset Tokenisation: The Next Frontier for Partnerships in Banking and explore the revolution of core banking in Cloud-native Cores and Digital Banking Revolution.

If you're someone who prefers to read think pieces, you will likely love our monthly blog Fintersections, where our team members analyse the convergence of FinTech with the world.

FinTech research is in the WhiteSight DNA, so if you'd like to get in touch for features, sponsorships, reach, and content marketing services, reach out to us at hello@whitesight.net.

And lastly, to stay updated on everything FinTech and Web3, follow us on LinkedIn and Twitter, and don't be shy to show some ❤️