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Binance is innovating with a web3 wallet, simplifying access to decentralized services for its users directly from its app. Security is reinforced with advanced technologies, eliminating common security phrases. This step reaffirms Binance’s commitment to making web3 usage easier while maintaining security and simplicity for users, whether they are newcomers or veterans in the crypto market. “As much as we believe that Web3 will improve the freedom of money worldwide, our industry must continue to build tools that integrate and protect users while reducing friction for them,” said Binance CEO Changpeng Zhao.
The Robinhood platform (NASDAQ: HOOD) aims to grow in Europe and is considering opening a brokerage in the United Kingdom in the coming weeks. The revelation came alongside the company’s third-quarter financial results, where revenues fell short of expectations. The decline in transaction revenues was attributed to the decrease in cryptocurrency trading volume. Despite a net revenue of $467 million, below the expected $478.9 million, the company saw a 29% annual growth.
HSBC Holdings (NYSE: HSBC) plans to launch a digital asset custody service for institutional clients interested in tokenized securities, in partnership with Metaco, affiliated with Ripple Labs (COIN: XRPUSD). The initiative, which complements HSBC’s Orion platform for digital asset issuance and includes gold tokenization, is scheduled for 2024. The move follows other financial institutions that are adopting blockchain technologies, such as JPMorgan (NYSE: JPM) and Euroclear (CHIX: AGSGX).
SEBA Bank, a Swiss bank specializing in cryptocurrencies, has obtained a license from the Securities and Futures Commission (SFC) of Hong Kong, expanding its presence in the Asian market. SEBA’s Hong Kong branch will be able to offer various crypto-related services, including digital asset products and over-the-counter derivatives, starting from November 3rd. This expansion marks SEBA’s entry into the Asian continent after opening its office in Hong Kong in November 2022 and receiving initial approval from the SFC in August 2023. The license allows SEBA to serve institutional and professional investors, providing asset management and advisory services for traditional and digital assets.
Cryptocurrency exchanges Gate and KuCoin announce the listing of the memecoin Sats, based on the BRC-20 token standard of Ordinals, on their platforms. Gate already accepts Sats deposits, while KuCoin plans to enable deposits and commence trading on November 9th. The SATS/USDT trading pair will be available on KuCoin. Sats, inspired by the smallest units of Bitcoin, ‘satoshis,’ has a diluted market capitalization of $270 million and is present in 39,000 wallets.
The Cronos token (COIN: CROUSD) recorded a weekly jump of 32% in its value, driven by rebranding strategies and domain changes. The Cronos blockchain’s anniversary contributed to this upward momentum. The CRO token is trading at $0.0806 for the fifth consecutive day of gains.
The price of TON (COIN: TONUSD) reached the highest point in the past year after positive updates, including the launch of “Giveaways” by Telegram, propelling TON to the eleventh place in the cryptocurrency rankings with a market capitalization exceeding $9 billion. Telegram CEO Pavel Durov invested $200,000 in TON, fostering adoption and buying interest.
Shares of Grayscale Chainlink Trust (USOTC: GLNK) are trading at a 369.2% premium compared to the Chainlink token (COIN: LINKUSD) price. While the LINK market value stands at $9.29, GLNK shares reach $43.59. This disparity has been growing since March, driven by the adoption of the Chainlink Cross-Chain Interoperability Protocol by major companies, with Grayscale reporting increased interest and managing assets worth $3.9 million. GLNK shares are up 96.22% in the past 7 days and 261.49% in the last 6 months.
Ripple (COIN: XRPUSD) has launched an enhanced version of its international payment solution via cryptocurrency, now called Ripple Payments. According to the company’s announcement, the updates include broader access to a global network, spanning over 70 payment markets, both traditional and cryptographic. Ripple Payments offers nearly universal payment coverage, making blockchain usage easier for businesses seeking faster, cost-effective, and efficient international transactions. This aims to make the benefits of cryptography accessible for global commercial transactions, with RocketFuel, a payment solutions company, already implementing this new version into its system.
Centralized cryptocurrency exchanges have witnessed a surge in spot trading volumes, reaching a notable peak since 2021 with $632 billion in October. CCData’s research points to an unprecedented monthly increase since January 2021, driven by volatility and bullish price action. With the expected approval of spot Bitcoin ETFs, there is a clear indication of growing interest in digital asset markets. Derivatives trading has also risen to $1.94 trillion, with CME and a notable increase in institutional interest in BTC and ETH futures and options. In contrast, Binance sees a decrease in its market share, while Upbit rises, reflecting optimistic trends in the altcoin sector.
The Near Foundation, supporting the NEAR protocol (COIN: NEARUSD), has announced its partnership with Polygon Labs (COIN: MATICUSD) to enhance interoperability between different blockchains. This agreement brings the NEAR protocol closer to Ethereum’s vast network, enabling WebAssembly (WASM) blockchain technology to leverage Ethereum’s liquidity. The collaboration aims to create zkWASM, a zero-knowledge proof for WASM blockchains, expanding developer options and streamlining the validation process for greater scalability, with a projected release in the next year.
The DAO Arbitrum (COIN: ARBUSD) is voting on a proposal to allocate 21.4 million ARB tokens, equivalent to $24 million, to previously approved projects that did not reach the funding cap of 50 million ARB in the initial round of grants from last month’s Short-Term Incentive Program. If the preliminary polling is positive, it will evolve into an official Arbitrum Improvement Proposal and subsequently proceed to on-chain voting. The measure aims to expand the program’s budget to 71.4 million ARB, benefiting 26 new protocols in addition to the 29 already included. With 90.3% of current votes in favor, the voting, which began on Tuesday, concludes on November 14th.
Lukso, a layer 1 blockchain developed for the creative industry and co-founded by blockchain veterans Fabian Vogelsteller and Marjorie Hernandez, has announced the launch of “Universal Profiles” on its mainnet. This functionality, central to the blockchain ecosystem, will serve a range of decentralized applications such as social media, NFTs, and payments, unifying creators’ activity into a smart contract-based account that goes beyond a simple wallet address.
The European Banking Authority (EBA) has presented guidelines for stablecoin issuers in the EU, determining minimum capital and liquidity requirements. The goal is to ensure the swift conversion of stablecoins even in times of crisis, preventing bank runs. Issuers will need to ensure full liquidity of assets, and stress tests will validate the financial strength of these assets. The standards are expected to be implemented starting in 2024.
Athena Bitcoin is implementing the Lightning Network in its ATMs in El Salvador, initiating an integration that will extend across Latin America. The partnership with Genesis Coin Inc. will enable more efficient and faster transactions at ATMs. With 100 machines ready by December 2023 and the rest in early 2024, Athena contributes to the proliferation of ATMs with this technology. Meanwhile, El Salvador continues to adopt Bitcoin on a large scale, encouraging the use of cryptocurrency in the local economy, including partnerships connecting thousands of merchants to the Bitcoin network.
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