EMN Weekly Issue #4

Welcome to the 4th issue of EMN Weekly!

We’ve got a roundup of the latest developments in the oh-so-happening RWA sector, some crypto humour and top E Money Network updates for you in this issue. Happy reading!

What's in Today's Issue?

• This Week's Top RWA & MiCA News

• Crypto Humour for the Week

• Top E Money Network Posts of the Week

• Community Spotlight

Top RWA & MiCA News of the Week

1. BlackRock’s BUIDL Fund Crosses $500 Million as Tokenised Treasury Market Hits a New High - Global investment giant BlackRock’s BUIDL token has become the first tokenised treasury product to surpass $500 million in value. The US securities-backed token, launched four months ago in partnership with Securitize, has been fueled by other decentralised finance (DeFi) protocols such as Ondo Finance and Mountain Protocol that are using it as a backing asset for their own yield-products. Other asset brokers including FalconX and Hidden Road have recently begun utilising the token as a collateral asset for their institutional investor clients.

2. Bank of Italy Preparing to Launch Guidelines on MiCA Implementation - Fabio Panetta, Governor of the Bank of Italy, shared that the Bank of Italy will soon share guidelines for MiCA implementation in a speech at the Italian Banking Association. “Our assessment is that the only instruments that can serve as means of payment fully preserving the public’s trust are EMTs, electronic money tokens, which can be issued by banks or electronic money institutions,” he stated, thereby, highlighting the significance of e-money tokens.

3. MiCA Regulations Mainly Benefitted a Single Company as per Blockchain Analytics Firm Kaiko - The implementation of MiCA regulations caused a rush among stablecoin issuers to take measures for compliance with the regulations. However, despite the competition, only one company has benefited from this phase of implementation so far, as per French blockchain analytics firm, Kaiko. Since the implementation, MiCA-approved stablecoins euro-pegged EURC and US dollar-pegged USDC have seen significant increase in their daily trading volume.

4. Goldman Sachs Set to Launch 3 Tokenization Products this Year as per Report - According to Fortune, Matthew McDermott, Goldman Sach’s Global Head of Digital Assets, the investment bank is set to launch three new tokenization products later this year in the United States and Europe following “a major uptick in interest from clients” in crypto. McDermott also revealed that Goldman Sachs is planning to develop marketplaces for tokenized real-world assets (RWAs) and focusing on the “fund complex” in the United States and European debt markets. Reportedly, the marketplace will set itself apart with its speed of execution and the range of assets that can be used as collateral.

5. Q2 Sees RWAs as the Best Performing Sector in Crypto as per Data Aggregator Artemis - RWA tokens grew by 28% during Q2 of 2024, outperforming all other crypto sectors according to data aggregator Artemis. This report is based on data of Ondo (ONDO), Mantra (OM), Clearpool (CPOOL), and Maple (MPL) tokens. The only other crypto sector that saw growth in Q2 was tokens of centralised exchanges as per their report. BTC and ETH saw a 10% and 2% decline respectively during the same period.

Crypto Humour of the Week

https://x.com/emoney_network/status/1810971200614510748

Top E Money Network Posts of the Week

1. E Money Network partnered with Sheertopia for E Money Wallet integration - https://x.com/emoney_network/status/1810705965093687479

1. E Money Network Founder & CEO shared his thoughts about the effect of MiCA regulations on stablecoin issuers - https://x.com/raj_bagadi/status/1811660892674703548

Community Spotlight

E Money Wallet recently integrated Chorus One’s crypto staking solution, enabling users to earn by staking ETH. The enthusiastic response of our community warms our heart - https://x.com/emoney_network/status/1810708651172147535

That’s all for now. We will be back next weekend with another issue of EMN Weekly. Stay tuned!