Payment Expert’s Blockchain Bulletin analyses how the world of blockchain is constantly evolving and heavily impacting the payments industry, with cryptocurrencies, NFTs and the metaverse revolutionising the space. 

This week, a startup has proposed the first regulated US stablecoin, BlackRock’s CEO targets Ethereum ETF and Lionel Messi stars in Bitget’s latest crypto marketing film. 

Figure Technologies proposes new angle to USD stablecoins

Figure Technologies, a US fintech startup, has proposed a stablecoin to the US Securities Exchange Commission (SEC) that will attach interest on each transaction. 

The proposed stablecoin will be listed as a “face-amount certificates” fixed-income securities run on blockchain technology, to be distributed to institutional and retail investors. Interest is not attached to some of the most popular stablecoins in the market, such as USDT or USDC

Approval from the SEC may prove challenging, however, with its Chair’s (Gary Gensler) tough stance against cryptocurrencies and digital assets. Despite this, the calls made by Figure to have the proposed stablecoin listed as a security may tempt Gensler into considering approval. 

BlackRock CEO aims for ETH ETF as part of total tokenisation plans

After launching its iShares Bitcoin Trust on the announcement of the approval of Bitcoin EFTs in the US, the CEO of BlackRock has more plans for the asset firm to delve deeper into blockchain technology. 

Larry Fink told CNBC that Bitcoin ETFs are step one in the “technological revolution in the financial markets” with step two coming in the form of “the tokenisation of every financial asset”. 

Fink’s belief that ETH should receive its own ETF clearance, expanding the scope for financial assets to become tokenised, seem to be key to his ideal step two plans.

Crypto crime decreases 39% as market continues to recover

Chainalysis revealed that crime within the sector dropped by 39% from $39.6bn in criminal revenue in 2022, to $24.2bn last year. 

The blockchain analysis firm has attributed this largely due to scams thriving better when “markets are up, exuberance is high, and people feel like they are missing out on an opportunity to get rich quickly”.

The report notes a new form of tactic criminals are now using that were prevalent that year, that being romance scams, a form of crypto scam targets individuals building relationships to pitch them fraudulent investment opportunities. 

Bybit’s Keyless Wallet provides more seamless control

Bybit launched a new self-custody product that enables users to securely control their digital assets. 

The Bybit Keyless Wallet removes the need for private keys and third-party trust by integrating Multiparty Computation technology to automate the login process seamlessly. 

CertiK, a security and analytical platform, was enlisted to audit Bybit’s new solution by gaining oversight of blockchain and DeFi protocols. 

A tripartite alliance aims to provide future solutions for digital assets in UAE 

DIFC Innovation Hub, Euroclear and Swiss wealth manager Julius Baer aim to address shortcomings and expand the growth of digital assets within the Middle East region. 

The tripartite alliance believes a problem exists in that over AED 3.67trn (US$ 1trn) in assets will be transferred to a new generation in the Middle East ‘over the coming decade’, but only 24% of the region’s high-net worth individuals have a full estate plan.

The partnership plans to begin with a three-month review culminating in a White Paper suggesting a ‘future-oriented solution’ for multi-generation inheritance of tokenised and digital assets. 

Messi’s path to mirror Bitget’s growth in new film

Bitget has launched a new film about Lionel Messi to kick off its second-year in partnership with the footballer.

The new #MakeItCount 2024 film creates parallels from Messi’s journey of becoming one of the greatest athletes in the world to Bitget’s journey of becoming one of the top five crypto exchanges. 

In the film, the footballer explains the importance of perseverance and practice, showcasing the determination of Messi in his childhood through to his professional career.