Blockchain platform provider Paxos has introduced a U.S. dollar-backed stablecoin, Global Dollar (USDG), that will comply with the upcoming stablecoin framework from the Monetary Authority of Singapore (MAS), Singapore’s central bank and integrated financial regulator. Paxos Digital Singapore Pte. Ltd. is the issuer of USDG and is regulated by MAS officials. “Paxos’s affiliate, Paxos Global… Read More >>
CFTC Taps BNY Mellon & Franklin Templeton & Other News
Officials from Key Firms Join Digital Assets Subcommittee The CFTC recently announced that its Digital Asset Markets Subcommittee will have co-chairs from BNY Mellon and Franklin Templeton. Caroline Butler, global head of digital assets at BNY Mellon, and Sandy Kaul, senior vice president, head of digital and industry advisory services at Franklin Templeton, will serve… Read More >>
BNY Mellon’s Digital Custody Launches & Other News
BNY Mellon’s Digital Asset Custody Goes Live BNY Mellon reports that its Digital Asset Custody platform has gone live in the U.S. and key clients can “hold and transfer bitcoin and ether,” establishing the custodian’s capability to offer traditional and digital asset servicing. The firm launched an enterprise digital assets unit in 2021 “to develop… Read More >>
Nasdaq Launches a Digital Assets Business & Other News
Nasdaq Establishes a Custody Solution for Digital Assets Nasdaq reports the launch of a new business that it says will “power the digital asset ecosystem.” The new business “underpins Nasdaq’s ambition to advance and help facilitate broader institutional participation in digital assets by providing trusted and institutional-grade solutions, focused on enhanced custody, liquidity and integrity,”… Read More >>
Google Cloud Tapped for Climate FinTech & Other News
MAS & Google Launch Climate FinTech Initiative The Monetary Authority of Singapore (MAS) and Google Cloud report that they are launching an initiative “to drive the innovation, incubation, and scaling of climate FinTech solutions in Asia.” The Point Carbon Zero Program is “a collaboration under MAS’ Project Greenprint,” that will spur climate FinTech solutions to… Read More >>
Calpers Chief Investment Officer Abruptly Resigns
Calpers Board to Review the Matter on August 17 Yu (Ben) Meng abruptly resigned from his post as chief investment officer for the approximately $409 billion California Public Employees’ Retirement System (Calpers) pension fund. Meng, whose resignation became effective August 5, became the chief investment officer in January 2019. Calpers has appointed Dan Bienvenue, deputy… Read More >>
ASX, Digital Asset & VMware Partner for DLT
ASX, Digital Asset and VMware Sign MOU The Australian Securities Exchange (ASX) has signed a three-party memorandum of understanding (MOU) with Digital Asset (DA) and VMware to work together on distributed ledger technology (DLT) initiatives in Australia and New Zealand. Under the MOU, the ASX plans to provide its DLT offering “with the support of… Read More >>
BlackRock & Thomson Reuters Partner to Launch ESG Fund
BlackRock’s ETF Will Follow a New Thomson Reuters Index BlackRock, considered the world’s largest asset manager, and Thomson Reuters, a provider of market data, trading systems and news, have combined forces on an exchange traded fund (ETF) that helps investors support environmental, social and governance (ESG) targets via companies in developed and emerging markets. The… Read More >>
IBM, Singapore to Build R&D Hub for Blockchain
IBM is throwing more weight behind distributed ledger technology (DLT) with the news that the IT systems and software giant plans to launch the first IBM Center for Blockchain Innovation in Singapore via a collaboration with governmental authorities. IBM’s efforts are in line with expectations that securities trading firms and financial technology vendors are likely… Read More >>
Hong Kong Clarifies Rules for OTC Derivatives Trading
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) proposals on introducing mandatory clearing and expanding mandatory reporting for the second stage of the over-the-counter (OTC) derivatives regulatory regime is only the next stage of the territory’s staggered approach to implementing new derivatives rules. The actions were expected and sell- and… Read More >>
