In a surprising twist, the Stellar Development Foundation (SDF) recently announced that it has become a minority investor in the internationally acclaimed payments provider MoneyGram International. As CEO and Executive Director Denelle Dixon elucidated, this forward-thinking decision was fueled by the organization’s cash treasury. It deviates from the typical investments made from the Enterprise Fund, which largely focuses on startups and earlier-stage companies – making this the first of its kind for SDF.
In the background, layer-one blockchain ZetaChain has successfully closed an equity funding round of $27 million. According to core contributor Ankur Nandwani, ZetaChain seeks to simplify asset and data management across multiple blockchains, aiming to alleviate the complexity that limits hundreds of millions from joining the web3 ecosystem.
In other news, we are witnessing an intriguing merge of fashion and technology. Adidas Originals and BAPE have teamed up to unveil a highly exclusive ‘Forum 84 BAPE Low Triple-White sneaker’. Revolutionizing the fashion industry yet again, select pairs will be auctioned off with a non-fungible token (NFT) counterpart, a digital twin via adidas COLLECT.
However, these progressive developments don’t eclipse the ongoing changes in crypto-friendly bank Silvergate. Amid liquidation and lawsuits, the CEO, chief legal officer, and chief financial officer are all set to leave the company.
Over at Kapital Bank and Ravnaq Bank in Uzbekistan, both institutions are set to take part in the digital sandbox of crypto regulation after receiving approval from the National Agency for Perspective Projects (NAPP). In a groundbreaking move, the banks are reported to issue crypto cards powered by Mastercard.
Additionally, MoonPay Technology Services Limited has got the green light from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP), marking another milestone in the integration of crypto into mainstream financial systems.
In a disappointing revelation, however, Ethereum Layer 2 operation SwirlLend reportedly swindled some $460,000 in user deposits, marking a somber tone amidst these developments.
On a positive note, the adoption of the DTI ISO standard into private DLT-based financial market infrastructures, particularly at SIX Digital Exchange (SDX), reflects increasing standardization measures across the industry, enhancing global oversight, compliance, and risk management within the rapidly expanding digital asset markets.
In conclusion, while forward-thinking moves continue to propel the crypto and blockchain sectors forward, these strides are interspersed with reminders of the need for thorough regulation, operational transparency, and user protection.
Source: Cryptonews
