Riding The Wave News Summary 159
Mastercard is Piloting Tokenized Bank Deposits in New UK Testbed, Bitcoin ETF race gets hotter as ARK Invest adds surveillance agreement to application, & more.
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Mastercard is Piloting Tokenized Bank Deposits in New UK Testbed
Bitcoin ETF race gets hotter as ARK Invest adds surveillance agreement to application
Bitcoin no longer crypto of choice for illicit crypto activity: TRM Labs
Tweets
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Mastercard is Piloting Tokenized Bank Deposits in New UK Testbed
Mastercard is setting up a testbed, dubbed the Multi-Token Network (MTN), which will begin by exploring tokenized bank deposits, and which will be available in beta mode this summer in the U.K.
Raj Dhamodharan, head of crypto and blockchain at Mastercard, said a number of banks and financial institutions are being invited to participate, and the MTN initiative will move on to embrace central bank digital currencies and regulated stablecoins in due course.
There have been a number of pilots and projects around the world involving different flavors of tokenized cash and associated applications, not to mention JPMorgan’s internal wholesale cash token, JPM Coin.
The first types of applications and use cases Mastercard intends to drive forward with tokenized bank money dovetails nicely with Mastercard Crypto Credentials, a blockchain analytics application announced in April, to ensure transactions are compliant with things like anti-money laundering (AML) regulations.
An MTN Innovation Sprint, which will take place in London this summer, where selected teams will receive access to MTN’s capabilities to develop promising use cases powered by tokenized deposits and digital assets, Dhamodharan said.
Bitcoin ETF race gets hotter as ARK Invest adds surveillance agreement to application
ARK Investment Management has amended its spot Bitcoin exchange-traded fund (ETF) application with the United States Securities and Exchange Commission, making it similar to BlackRock’s recent filing.
The amendments include a surveillance sharing agreement with the Chicago Mercantile Exchange (CME) futures markets and crypto exchange, most “likely Coinbase,” said Bloomberg ETF analyst Eric Balchunas on Twitter.
In the race for the first Bitcoin ETF in the United States, ARK’s filing update puts it ahead of its competitors.
Even if ARK receives approval in the coming weeks, the BTC ETF saga may not be over, as it still needs to appoint a crypto exchange to enter into a surveillance-sharing agreement. Although Coinbase may be a strong candidate for this position, the company has already partnered with BlackRock to become a Bitcoin custodian should approval be granted.
Billionaire Jack Dorsey Challenges Tim Cook Over Apple Pay's Lack of Bitcoin Support Amid Damus Controversy
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