Binance launches web3 wallet
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.
Robinhood announces European expansion despite below-expected
revenues
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 advances with digital asset custody in partnership with Metaco
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 secures Hong Kong SFC license for crypto services
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.
Crypto platforms Gate and KuCoin prepare for Sats listing, the new
memecoin
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.
Rise of Cronos
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.
TON achieves record appreciation
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.
Grayscale Chainlink Trust shares trade at a significant premium
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 expands international payment solution with blockchain
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.
Dramatic surge in crypto trading signals renewed institutional
interest
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.
NEAR and Polygon partnership focuses on interoperability and ZK
technology
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.
DAO Arbitrum deliberates on new funding for projects
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 introduces universal profiles on the mainnet
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.
EBA proposes new liquidity standards for stablecoin issuers
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 promotes Lightning Network expansion in Latin
America
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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