What happened in the crypto world in the last week? Let’s see some interesting news together!
Hong Kong’s First Ethereum-based Tokenized Securities
The Bank of China’s investment banking arm BOCI issued tokenized securities on Ethereum in Hong Kong, according to a Monday press release.
BOCI offered CNH 200 million ($28 million) of structured notes, with Swiss banking giant UBS underwriting the issuance and placing with clients in Asia Pacific.
This was the first time a Chinese financial institution issued tokenized securities on a public blockchain in Hong Kong, the BOCI press release said.
Major banks like Citigroup and Bank of America have predicted that the tokenization of real-world assets (RWA) – an umbrella term for traditional financial products such as notes and bonds – can boost crypto adoption and drive trillions of dollars in value to blockchains.
Thailand Launches Retail CBDC Pilot with 2 Banks and Singapore Payment Service
The Bank of Thailand will launch a retail central bank digital currency (CBDC) pilot project in a regulatory sandbox this month. Three payment providers will take part, according to local media. The project will involve up to 10,000 users and run through August.
Bank of Ayudhya (Krungsri), Siam Commercial Bank and Singapore-based payments service provider 2C2P will partner with the Thai central bank on the project. Each of those organizations has made an app available to selected users that includes a wallet and a QR code scanner.
Krungsri will enlist up to 2,000 staff members to participate in the project, along with about 100 merchants located around the bank’s headquarters. It will expand the project to its Ploenchit branch as well.
Andreessen Horowitz to Open First International Office in London
U.S. venture capital firm Andreessen Horowitz, a major cryptocurrency investor, said on Sunday it will set up its first international office in London, at a time when U.S. regulators have increased scrutiny of the cryptocurrency sector.
The London office, set to open later this year, will work with universities in the UK and support the development of blockchain technologies and startups, the company said in a statement, adding that it will be led by one of the firm’s general partners, Sriram Krishnan.
“We’re thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace Web3 and protect consumers,” said Chris Dixon, founder and managing director of Andreessen’s a16z crypto fund, which is setting up the office.
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