IOTA launches $100 million Abu Dhabi foundation for Middle East expansion
The open-source blockchain developer IOTA announced on Nov. 29 that it is launching a foundation, the IOTA Ecosystem DLT Foundation, based in Abu Dhabi to focus on the growth of its distributed ledger technology (DLT) in the Middle East region. According to the announcement, the new founda ...
Blockchain adoption continues unabated — Bloomberg analyst
Should the current rate of adoption continue, blockchain technology could have 100 million daily users by 2028, according to projections by Bloomberg Intelligence analyst Jamie Coutts. On X (formerly Twitter), Coutts pointed out that blockchain adoption has been "unabated" throughout ...
AI and blockchain will ‘reshape sectors’ and create new markets from scratch — Moody’s
Artificial intelligence (AI) and blockchain technologies have reached a "tipping point" and are set to shrink established industries while creating new ones, forecasts a report from Moody's Investors Service published on Sep. 6. According to the authors, the combined impact of AI and ...
CBDCs seen offering faster settlements by 87% global securities firms: Citi survey
Discussions around ways to shorten local settlement cycles within the next five years have got most securities firms eyeing local central bank digital currencies (CBDCs). CitiBank’s latest edition of the Securities Services Evolution whitepaper highlighted India’s recent move to T+1 settlements, ...
US Fed steps up oversight of banks’ involvement with crypto firms
The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program, which aims t ...
Why isn’t smart money’s effect on crypto’s original promise discussed more?
Ignoring the original, utility-driven ideas introduced in the early documents on digital cash became the new normal once adopters stumbled upon a cryptocurrency price ticker. Are new price tickers a sign of innovation? There is a critical paradox when thinking about inven ...
Gaining speed on tokenization is vital for UK’s financial future, banking group warns
Advocacy group UK Finance is urging the British government to encourage securities tokenization. The market is small now, but the future stakes are high, it said.In a report co-written with consulting firm Oliver Wyman, UK Finance said the advantages of tokenization, such as lower costs, l ...
BIS releases unified ledger proposal for cross-border, tokenized asset transactions
The Bank for International Settlements (BIS) has released a chapter of its annual report early. That chapter, on the future of the monetary system, discussed “a new type of financial market infrastructure – a unified ledger.” The chapter was published June 20, one day after the International Mone ...
Investment Bank Citi Predicts 80x Growth of Tokenized Assets Market by 2030
Citi investment bank analysts predict a significant growth in the tokenized assets market, with an estimated increase of 80 times by 2030, which could result in a total market value of $4 to $5 trillion. The findings are published in a report titled "Money, Tokens, and Games," which indicates tha ...