Discover more from Future of FinTech Newsletter
Worldwide Web3 Wonderland | Edition #27 – April 2023
Summary of news from 7th to 20th April 2023
Greetings, fellow Web3 adventurers!
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!
Sign up for the captivating realm of web3 and stay up-to-date with its myriad of innovative breakthroughs! 🎢
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 –
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 email@example.com.