What happened this week in the world of blockchain and cryptocurrencies? The most relevant local and international events as well as appealing background reports in a concise and compact weekly review.
Selected articles of the week:
Ripple was founded in 2012 as a crypto startup with the aim of creating a decentralized digital payment system. The company wanted to enable low-cost cross-border transactions and differentiate itself from Bitcoin with a more scalable solution. The basis of this payment network is the cryptocurrency XRP – formerly also known as “Ripple”. Over the past decade, however, the company has struggled to establish XRP as a means of payment. Instead, Ripple now wants to tackle the lucrative stablecoin market. To a certain extent, Ripple is throwing in the towel.
The US dollar stablecoin market is currently concentrated in the hands of two companies: Tether…
SNB pushes ahead with CBDC franc
Over the past few years, central banks have been researching digital alternatives to their currencies. The SNB is at the forefront of these efforts. As part of “Project Helvetia”, it has been researching ways to process securities transactions and cross-border payments using blockchain technology and digital francs since 2019. The project is now in its third phase and promises significant efficiency gains in wholesale trading. However, the SNB has ruled out a central bank digital currency (CBDC) for private customers.
The Swiss National Bank (SNB) is moving forward with the Helvetia III pilot project, becoming…
Tokenization reaches milestone
The term tokenization describes the representation of a traditional asset on the blockchain. US government bonds are currently particularly popular, as they offer an attractive return for a relatively low risk. There are numerous providers of tokenized T-bills. From crypto-native projects such as Ondo Finance to the world’s heaviest financial titans: BlackRock and Franklin Templeton. All see blockchain as a technology that can revolutionize our current financial markets.
Tokenized US Treasury Bills on the blockchain led by US giants such as Franklin Templeton and BlackRock are capturing new markets.
Entrepreneurs from Zug develop crypto Twint
Cryptocurrencies are back on everyone’s lips after a tough crypto winter. This makes it all the more important to simplify handling for newcomers. The Zug-based crypto startup Zippy set itself this goal. With a mobile app, the trading process should be simplified to just a few buttons. And a social recovery function prevents total loss if users lose their private keys.
The Zug-based startup Zippy aims for global cryptocurrency mass appeal with several unique features of its new app.
Metaverse regulation in Switzerland
In addition, a lot has happened in the past two years in the application fields of Web 3.0, artificial intelligence and virtual reality. Thanks to numerous innovations, these areas have become accessible to the general public, making them more tangible and easier to understand. The metaverse has also benefited from this. Now the Swiss Metaverse Association, a public-private partnership, is calling for clear regulation for the sector.
The Swiss Metaverse Association publishes the first Swiss position paper on regulating the Metaverse.
