Worldwide Web3 Wonderland | Edition #22 – Feb 2023
Summary of news from 16th Jan to 3rd Feb 2023
Happy New Month, Web3 Wanderers!
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!
Hop on the Web3 thrill ride! 🎢 Sign up for the Web3 Weekly Wonderland newsletter and brace yourself for an exciting journey!
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 –
Banking on consequences: Penalties imposed on financial institutions
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.
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