EMN Weekly Issue #11
Last updated
Last updated
Welcome to the 11th issue of EMN Weekly!
We are delighted to bring to you RWA and MiCA news of the world, latest developments at E Money Network and some crypto humour to tickle your funny bone. Hope you find this issue of EMN Weekly both informative and entertaining. Happy reading!
What's in Today's Issue?
This Week's Top RWA & MiCA News
Meme Time: Crypto Humor for the Week
E Money Network Updates: What You Need to Know
Community Spotlight
- Hong Kong’s financial authority, the Hong Kong Monetary Authority (HKMA) recently launched a sandbox for accelerating RWA tokenisation. The sandbox is designed to enable interbank settlement using experimental tokenised money, focusing on transactions involving tokenised assets. Participating banks from the Project Ensemble Architecture Community have already connected their tokenised deposit platforms to the Sandbox in preparation for testing both interbank payment-versus-payment and delivery-versus-payment settlement.
- Centrifuge, a leading RWA tokenisation startup, has unveiled a lending platform that utilises collateral from several US treasury-backed tokens leveraging Morpho’s system of vaults. The lending platform will reside on Coinbase’s Base, an Ethereum Layer 2 network. Aimed at institutions, the market will enable the collateralization of and borrowing against the Centrifuge-affiliated Anemoy Liquid Treasury Fund (LTF), Midas Short Term U.S. Treasuries (mTBILL) and Hashnote’s U.S. Yield Coin (USYC).
- Real Vision’s Chief Crypto Analyst Jamie Coutts has cast doubt on the predictions about tokenised asset market reaching $30 trillion by 2030, a figure proposed in an analysis by Standard Chartered Bank and Synpulse. As per Coutts, a more realistic estimate would be $1.3 trillion based on the current compound annual growth rate (CAGR) of 121%. Coutts argues that though his figure is significantly lower than the original projection, it still represents significant growth in the tokenised asset market and could have a significant impact on the Web3 economy.
- Banking Circle, a tech-driven payments bank has announced the launch of the world’s first bank-backed MiCA-compliant stablecoin EURI. The stablecoin will initially be available via Binance with more exchanges to follow. The burning and minting of EURI is powered by the Fireblocks Tokenization Engine and secured by its Multi-Party Computation (MPC-CMP) technology.
- Ondo Finance recently launched its USDY token on Arbitrum, Ethereum’s Layer 2 scaling network. This new collaboration aims to enhance the access and utilisation of real-world asset protocols in the blockchain landscape. Besides Ondo Finance, Arbitrum is also taking in other notable tokenised products, especially treasury yield products, such as Franklin Templeton’s FOBXX.
Our community is super bullish about $EMYC, and so are we!
That’s a wrap for this week. We will be back with another issue of EMN Weekly next week!
E Money Network hosted the 3rd session of Real World Alpha (RWA) Chats with Pendulum’s Co-founder Alexander Wilke, Music Protocol’s Founder Sergio Mottola and E Money Network’s MD Parag Arora. Listen to entire recording here:
