EMN Weekly Issue #9
Last updated
Last updated
Welcome to EMN Weekly Issue #9!
We are back with the most exciting RWA and MiCA news from the blockchain industry, latest developments, weekly crypto humour and more. 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
- Plug and Play recently announced a new accelerator on the XDC Network for driving innovation in RWA tokenisation. The RWA accelerator will begin accepting applications from December 2024. Ten selected startups will join the accelerator’s 3-month long program beginning March 2025 and receive support and resources for developing advanced RWA applications. At the end of the program in June 2025, the startups will present their projects to Plug and Play and its network of investors and stakeholders at the Plug and Play Silicon Valley Summit.
- Germany’s largest development bank KfW has partnered with Boerse Stuttgart Digital (BSD) in preparation for its upcoming tokenised digital bond offering. BSD, acting as the bank’s infrastructure provider, will be responsible for overseeing crypto wallets and secure the private keys during the issuance and redemption processes. The bonds are planned to be issued in the coming weeks under the German Electronic Securities Act (eWpG).
- RWA tokenisation platform Lumia announced successful fundraising led by Nomura’s digital asset arm, Laser Digital. Other notable participants include DWF Labs and TRGC. The investment round included sale of Lumia’s tokens and nodes. The fundraising coincides with Lumia’s sale of 25000 nodes, and is meant to “serve as the backbone of Lumia’s decentralised network”.
- MakerDAO recently unveiled the Spark Tokenisation Grand Prix, an initiative aimed at onboarding $1 billion worth of tokenised RWAs. The initiative has garnered the attention of financial giants including BlackRock, which already manages $10 trillion worth of assets, Superstate and Ondo Finance. Carlos Domingo, the CEO of Securitize, BlackRock’s issuance partner, expressed that they would support this initiative with BlackRock’s BUIDL, the world’s largest tokenised treasury fund.
- Tether CEO Paolo Ardoino recently expressed concerns regarding the “systemic risk” posed by EU’s MiCA regulations to not only stablecoins, but the overall banking system. The regulations mandate stablecoin issuers to hold 60% of reserves backing stablecoins in EU bank accounts. According to Ardoino, this requirement is problematic as financial institutions follow fractional reserve banking rules, where only a fraction of deposits are available for withdrawal at any given moment, leaving them vulnerable to bank runs.
We are truly grateful for our great community members who always cheer us on -
And that’s a wrap for this week. See you all next week with another issue of EMN Weekly!
Singularity DAO recently integrated E Money Wallet into their ecosystem -
ZetaChain mainnet integrated into the E Money Wallet -
