EMN Weekly Issue #20
Last updated
Last updated
Hello everyone!
We are excited to bring to you the 20th issue of EMN Weekly. We have covered top RWA and MiCA news of the week from the crypto industry, listed the most important E Money Network updates and thrown in some crypto humour to keep things light and fun. We hope you find this issue 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
- According to a paper released recently by the Boston Consulting Group (BCG), RWA tokenisation could potentially hit $600 billion by 2030. In the paper, jointly produced by Aptos Labs and Invesco, BCG called RWA tokenisation “the third revolution in asset management”. “We see a pattern of growing investor demand in the tokenized funds space,” said David Chan, managing director and partner at BCG.
- Leading permissioned blockchain infrastructure provider Polymesh Association is soon going to enter into a strategic partnership with BDACS, a leading blockchain and digital asset custody company based in Busan, South Korea. The partnership is aimed at enabling the two companies to discover and support promising RWA and tokenized securities projects in South Korea, collaborate on the enhancement and expansion of Polymesh’s RWA and tokenized securities protocol and ecosystem through marketing, custody support, and other efforts, and power joint cooperation to activate the Busan Blockchain Special Zone.
- AgriDex, a Solana-based RWA marketplace for agricultural goods, is tapping stablecoin platform Bridge to lower cost for agricultural trade settlements. This move will allow AgriDex to integrate Bridge for enabling its buyers and sellers of agricultural commodities and products to use AgriDex as a cross-border payment and settlement venue using Circle's USDC stablecoin on the Solana network.
- Mantra Chain, a leading compliance-oriented blockchain, has joined Google Cloud for accelerating RWA tokenisation. Google Cloud, the world’s third largest cloud services provider, will supply essential infrastructure services and serve as a network verifier for MANTRA Chain, thus making real world asset trading more efficient and cost-effective. The integration will effectively make operations more scalable and secure, thus enabling Mantra Chain to bring assets on chain more efficiently.
- The Markets in Crypto Assets (MiCA) regulation is supposed to go into full effect the coming December. As per MiCA, stablecoin issuers are mandated to hold at 60% of reserve assets in European banks. As per Tether CEO Paulo Ardoino, this may pose a systemic risk for stablecoin issuers as banks can loan up to 90% of their reserves. “If you have 10 billion euros under management, you have to put 6 billion euros in cash deposits. That is 60% of 10 billion euros. We know that banks can lend out 90% of their balance sheet. So of the 6 billion euros, they lend out 5.4 billion euros to people […] 600 million euros will remain in the bank balance sheet,” explained Ardoino.
That’s a wrap for this week. We will see you next week with more news and updates. Stay tuned!
E Money Network shared a glimpse of the upcoming #EPay which will enable users to conduct crypto and fiat transactions using their Telegram ID -
E Money Network CEO Raj Bagadi recently participated in the Hong Kong Fintech week and connected with leaders from the RWA space -
Getting closer to our vision with the help of our community, one step at a time!
