EMN Weekly Issue #8
Last updated
Last updated
Welcome to the 8th issue of EMN Weekly!
We bring to you tidings from the RWA sector and MiCA regulations, some crypto humour and the latest developments at E Money Network. We hope you enjoy reading this issue!
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
- Lumia, a zkEVM-based Layer 2 platform built on Polygon CDK shared that it has raised $25 million from node sales in under 20 days. Their node sale is said to be the biggest in the history of Web3 and establishes Lumia as a leading RWA chain. With the money raised, Lumia will expand its technological capabilities which include developing its Layer 2 solution, and scale up its market presence.
- Zoth, an RWA-centric DeFi startup, has secured $4 million to advance its efforts of launching tokenised traditional fixed income instruments. The strategic round was backed by Taisu Ventures, G20, Fat Cat Ventures, GemHead Capital, Foundership Ventures, DCI Capital, Absolute Digital VC, Gydra Capital, and AstraX Capital, among others. As per their official press release, the startup has already deployed $13 million in private credit, with over $100 million originated and $200 million in the pipeline.
- Australian gemstone company NYBlue Pty Ltd is planning to announce the launch of its RWA token pre-sale. The company holds more than one million carats of blue zircon, and it plans to secure control over the supply of the precious gemstone by increasing its holdings. As per the company’s whitepaper, it is also planning a public float of its “real world asset cryptocurrency”.
- France has established itself a leader in implementing MiCA regulations by becoming one of the first EU countries to start accepting applications for crypto asset services provider (CASP) licences. The French regulator Autorité des Marchés Financiers (AMF) revealed that it has been accepting applications since July 1.
- EU regulator European Securities and Markets Authority (ESMA) recently published an opinion report for European crypto firms dealing with overseas firms to prevent them from breaking MiCA rules. According to the opinion report, companies that are not authorised to provide services in the EU, cannot offer services to any EU clients unless those clients reach out first. In doing so, ESMA wants to mitigate the risk of unauthorised companies exploiting loopholes to proactively reach out to European clients.
E Money Network hosted the second episode of RWA Chats with Raj Bagadi - Founder and CEO of E Money Network, Tomer Warschauer Nuni - CMO of Kima Network, Rishabh Narang - Founder and CEO of Sharpe AI, Kevin Yunai - Founder and CEO of RWA Inc.
Listen to recording here:
That’s a wrap for this week. See you again next week!
E Money Network partnered with Forcefi, a leading decentralised finance (DeFi) project -
E Money Network partnered with PlayZap, a Web3 gaming ecosystem -
E Money Network partnered with Buk Protocol, a blockchain project developing modular infrastructure for dApps and marketplaces -
It’s been a rough few days for the entire crypto community. But when you have cheerleaders like these, it’s impossible to stay sad for too long -
