SGSS, arch, Fast and Nasdaq in fashion symbol; Mica finally covers NFT and stable coins algorithmic; Kaiko protagonist in institutionalization cryptography; XRP soon fixed on its fate… back to thenews of the week.
The institutions of traditional finance “We need a reliable and responsible third party capable of providing a reference price,” Elodie de Marchi, COO of Kaiko, told Coins.fr this week. These TradFi players also need quality and real-time datathat the French startup offers them.
Because the sector, from its global financial hubs, is in full transformation with the adoption of blockchain and some asset tokenization. There were many illustrations of this mutation this week. And this convergence between tradFi, CeFi and Challenge is just getting started.
Société Générale: a step closer to cryptocurrencies
In France, two banking groups stand out for the adoption of crypto assets. These are BNP Paribas and Société Générale. The second made a big announcement in this area. Your subsidiary Societe Generale Securities Services (SGSS) launched services for management companies looking to introduce cryptocurrency-focused funds.
Its first official client is Arquant Capital, a manager specializing in cryptocurrencies. This week she put on the market two regulated funds directly exposed for Bitcoin and Ethereum. This is the first time in France. Therefore, Arquant relies on SGSS, which assumes the role of custodian, appraiser and manager of the fund’s liabilities.
Cryptocurrency and blockchain news from traditional financial institutions was particularly rich this week. The American stock market Nasdaq revealed the Nasdaq Digital Assets. Your new entity will offer cryptocurrency-focused services to goofs, starting with custody. the japanese bank Nomura established a cryptocurrency branch in Switzerland. And finally, Fast explores uses of blockchain with Symbiont.
Jesse Powell back from Kraken
Notable change in exchange head kraken. Jesse Powell is no longer its CEO. He hands over his chair to the company’s COO, Dave Ripley. Powell, however, does not bow. In fact, he takes Chairman of the Board of Directors of the cryptocurrency exchange.
In entrusting the management of current affairs to his number two, Powell in particular spend more time on products marketed by Kraken. And the former CEO is convinced that Dave Ripley is the ideal person to lead the exchange into its next era of growth.
Euro CBDC: Amazon creates a stir
With the DMA and the DSA, two European regulations, their institutions strive to limit the dominance of the large American platforms. However, it is one of them that ECB as part of your experiments in terms of central bank digital currency (CBDC). By selecting Amazon, the ECB arouses amazement, even hostility, on social media.
For the design of user interfacesdigital euro, the ECB selected partners. In terms of e-commerce payments, it is therefore the world number 1 in the sector that will participate: amazon. However, Europe has big names in e-commerce, but it is true that none of the size of Gafam.
XRP, a clear sky?
The debates have gone on for a long time. It is time for justice to rule on the dispute between the DRY and Curling. Both parties vote for an injunction to decide on the qualification of the XRP : safety Where cryptocurrency.
The possible imminence of this outcome does not leave investors indifferent. The XRP price registered a very strong increase this week. However, this volatility is a risk. Buying activity is driven solely by Ripple news. The value of the token can drop just as quickly. And even more so if the court decides against XRP.
MiCA: a text in the initial blocks
Since the provisional agreement at the end of June, the European authorities have been working on the elaboration of the final text of MiCA, its crypto asset regulation system. The document would now be finalized. And some notable changes are worth noting. The legislator appears to have taken into account the rapid evolution of digital assets.
To avoid the obsolescence of MiCA, he voluntarily allowed a margin of interpretation in its application. In addition, the project now plans to include the algorithmic stablecoins – or any other form of stablecoin that might see the light of day. Furthermore, Europe took note of the emergence of Split NFTs, which actually fall under fungible tokens and finance. NFTs will therefore not be exempt from any regulation in Europe.
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