Blockchain

BIS General Manager Agustin Carstens Touts Tokenization as Part of the Future Financial System

Agustin Carstens, general manager of the Bank for International Settlements (BIS), has discussed tokenization’s significance in modernizing the current siloed financial system. Carstens stated that only through tokenization can the world move to a more interconnected and programmable financial system, where several central bank digital currencies (CBDCs) will be transacted seamlessly. BIS Head Agustin Carstens Talks Tokenization as Origin of

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Blockchain

Take custody away from crypto exchanges

Regulators looking to make their jurisdiction a regulated home for crypto need to revisit the rules of custody for digital assets. They should ban exchanges from holding client assets. Two scandals in the past month have rocked the region. JPEX, a crypto exchange that has lied about its domicile, was the subject of over 2,000 complaints to Hong Kong police

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Ai

Enabling Innovation in Asset Management: SFC’s Approach

Key Takeaways Christina Choi, Executive Director of Investment Products at the Securities and Futures Commission (SFC), spoke at the Bloomberg Buy-Side Forum Hong Kong 2023. Choi emphasized the role of technology, particularly AI and blockchain, in transforming the asset management industry. The SFC is working on guidelines for tokenization of SFC-authorized investment products. SFC’s Dual Role in Asset Management Christina

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Blockchain

R3 Highlights the Transformative Potential of Tokenization in Finance

The Promise and Challenges of Tokenization Tokenization, the process of converting real-world assets into digital tokens on a blockchain, is poised to revolutionize the financial industry, according to R3. It promises benefits such as access to new markets, product innovation, and better liquidity management. However, the technology faces hurdles like regulatory compliance and the lack of industry standards. Regulatory Hurdles

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Blockchain

Can CoffeeDAO serve up a shot of real-world utility?

Many problems with blockchain-based ideas has been that speculators have driven the first adoption. Bitcoin’s original purpose was to facilitate payments, but it was quickly subverted into a Ponzi scheme. The same fate has met other ideas behind “Web3”, the notion that blockchain infrastructure can deconstruct the ownership of data away from centralized platforms. One of these is the decentralized

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Fintech

SWIFT Proves Its System Is Capable of Linking Multiple Blockchain Networks

After years of conducting experiments, SWIFT, the world’s leading provider of secure financial messaging services, today (Thursday) announced that its infrastructure can “seamlessly” facilitate the transfer of tokenised assets across multiple public and private blockchains. The member-owned cooperative conducted the trials in partnership with over a dozen global financial institutions, including the Australia and New Zealand Banking Group Limited (ANZ),

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Fintech

PropTech x Fintech | Ariel Shtarkman | DigFin VOX 64

Ariel Shtarkman is co-founder and managing partner of Undivided Ventures, a Hong Kong-based venture-capital business that invests in PropTech – technology businesses aimed at digitizing various aspects of real estate. She speaks with Jame DiBiasio about how PropTech has evolved in Asia, what family offices and other investors are looking for, and what opportunities are drawing capital, both from Asian

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Tokenization steps forward with US short-term debt

Tokenization of real-world assets on blockchain has been much talked about in crypto circles for years, with illiquid assets such as real estate considered prime targets. But the industry has little to show for it. Until this year. Several fintechs are launching tokenized products, but instead of targeting specialized asset classes, they are beginning with the most basic, liquid exposures

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Fintech

Schroders plots ‘tokenized investment vehicles’

Schroders, the $965 billion global asset manager, which has been looking into how to use blockchain for unit trusts, has joined a Singaporean initiative on blockchain interoperability. Project Guardian is a project led by Monetary Authority of Singapore and Bank of International Settlements to ensure advances in the use of blockchain-based finance develop standards for the industry, and avoid fragmenting

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Fintech

Investors buy up StanChart’s trade-finance Ethereum pilot

Standard Chartered says a group of investors has bought up $500 million worth of tokenized trade-finance assets that it posted to the public Ethereum blockchain. Steven Hu, Singapore-based head of digital assets for trade and working capital at the bank, says ten institutional investors oversubscribed the two tranches of asset-backed debt. “Strong demand shows we can achieve liquidity in tokenized

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Fintech

Defactor Labs takes trade finance into DeFi

European blockchain startup Defactor Labs is marketing a $100 million bond offer to accredited investors in Asia in a bid to bring them into the world of decentralized finance (DeFi). In some ways, this is another fintech platform connecting borrowers who need working capital to investors looking for yield and diversification. There are plenty of companies in Asia doing the

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Blockchain

Tokenization | Alice Chen & Julian Kwan | VOX Ep. 55

Alice Chen and Julian Kwan are co-founders of InvestaX, a Singapore-based fintech focused on digital-asset tokenization. Chen and Kwan discuss the evolution of tokenization, as a concept and a real-world activity, and how that is different from crypto markets. They discuss the future of financial intermediaries and the role of smart contracts. They also talk about Asia’s return to the

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Blockchain

Dfinity Foundation Launches Chain-Key Bitcoin, a Native Internet Computer BTC Derivative Token

On April 3, 2023, the Dfinity Foundation, a development team behind the Internet Computer (ICP) network, announced the launch of a native ICP token called “chain-key bitcoin” or “ckBTC.” The bitcoin derivative is backed 1:1 with the leading cryptocurrency asset. On Monday, Dfinity detailed that the technology “builds on the protocol-level integration with the Bitcoin network.” Breaking Away from Custodians

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Fintech

Old-school hedgie goes digital to make his comeback

The alternative-investment industry has always been designed for large institutional investors. An old-school hedge-fund manager in Singapore, Chua Soon Hock, is helping change this. The people who run hedge funds, private equity funds and venture capital funds serve as general partners, or GPs: they operate the business and are fully liable for it. Because they pursue strategies that are risky,

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Blockchain

Year of the Rabbit Preview: Web3 | DigFin Salon

DigFin Salon brings highlights from our discussion on the outlook for blockchain-based finance in Asia in the new Year of the Rabbit. Featuring Benedicte Nolens of B.I.S., Luc Froehlic of Fidelity International, and Patricia Ho of OKX Group, in a discussion led by Jame DiBiasio of DigFin. Event hosted by King & Wood Mallesons in Hong Kong. [embedded content] Timecodes:

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Blockchain

VC, seeking tech gorillas, prepares for digital IPO

A Tokyo-based venture-capital firm still raising capital for its debut fund called Nemesis Technologies is creating a business model that it hopes will enable to launch unit shares in the fund on a digital-asset exchange, and thereby make it available to retail investors. Pierre Mauriès, the founder of Nemesis, and a veteran of Carlyle Group as well as PwC’s tech

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Blockchain

Gold-Based Digital Assets Issued in Russia

A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first. Russia’s Sber Bank Mints Gold-Backed Coins Sber, Russia’s largest bank, has reported issuing gold-based digital

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