Ripple acquires custody infrastructure provider Metaco for $250m 

Ripple has announced the acquisition of Metaco, a Switzerland-based provider of digital asset custody and tokenisation technology, for $250 million (£201.1m).

The acquisition is aimed at expanding Ripple’s enterprise offerings, with Metaco promising enterprise-ready packages for financial service providers and corporates across multiple digital asset use cases around custody infrastructure.

The company’s primary product is Harmonize, cited by Ripple as the...

22 May 2023 | Blockchain

Blockchain Expo: The opportunities of Web3

During a session at this year’s Blockchain Expo, we heard from IDC Research Director Phillip Silitschanu about the opportunities of Web3 and the journey that lies ahead.

Silischanu shared his insights, based on vast experience, on the applicability of blockchain services and the potential of Web3. He discussed the opportunities and challenges presented by these technologies and their impact on various sectors.

Web2 vs Web3

Web2, also known as the social web, marked...

18 May 2023 | Banking

China to train half a million blockchain experts amid national research centre launch

Here’s a good example of how you can separate the blockchain signal from the crypto noise: China is to train 500,000 blockchain professionals after launching a national blockchain research centre in Beijing.

The centre, as reported by the South China Morning Post (SCMP) citing state-run media outlet Xinhua, will work with universities, research institutes and companies, as well as establish a ‘national-level blockchain network’ to connect existing blockchains in China as...

16 May 2023 | Development

Warner Music Singapore ushers in new era of digital content through Web3 gaming world

Warner Music Singapore and Affyn, a Singapore-based Web3 company, have partnered to create new opportunities for artists and audiences in the gaming industry.

The deal aims to motivate and inspire creators to explore the endless possibilities of the Web3 gaming world, and provide everyone with unique experiences that have never been seen before.

As part of the partnership, Warner Music Singapore will produce a customized song featuring bilingual artist J.M3 (pronounced...

11 May 2023 | Gaming

Deloitte and BNP Paribas join consortium in creating blockchain network for financial market

A collection of Sterling notes.

Digital Asset and leading market participants have unveiled plans to launch the Canton Network, the industry’s first privacy-enabled interoperable blockchain network designed for institutional assets and built to responsibly unlock the potential of synchronised financial markets.

Canton Network participants include 3Homes, ASX, BNP Paribas, Broadridge, Capgemini, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse Group, Digital Asset, The Digital Dollar Project, DRW,...

11 May 2023 | Banking

Crypto exchange Bitget invests $30m in multi-chain wallet BitKeep

Bitget

Cryptocurrency derivatives exchange Bitget has invested $30 million (£24.4m) into multi-chain wallet BitKeep to improve stability and security on its exchange.

The deal, which sees Bitget become the controlling shareholder of BitKeep, brings the wallet start-up’s valuation to $300 million (£244m).

Gracy Chen, managing director at Bitget, said: “Being one of the most trusted crypto exchanges with a $300 million user protection fund, we know how much security and...

22 March 2023 | Blockchain Applications

Visa and Mastercard delay new crypto partnerships

Stop

Visa and Mastercard, the United States’ two largest payment processors, have delayed the launch of new crypto partnerships as bankruptcies and increased regulatory scrutiny continue to affect the industry.

The move, first reported by Reuters, comes after a period of improved cooperation between traditional payment firms and crypto companies.

Both Visa and Mastercard have been exploring using stablecoins like USD Coin for payments and transaction settlements in recent...

1 March 2023 | Banking

Chain Reaction to build cryptographic chips with fresh $70m

Encryption

Chain Reaction, an Israeli startup designing semiconductors for blockchain and privacy hardware, has emerged from stealth following a $70 million (£58m) Series C funding round.

The Tel Aviv-based firm’s specialty chips and related architecture are designed to support cryptographic processes, most notably in the breakthrough field of homomorphic encryption, an approach to privacy that encrypts data as it is used.

Morgan Creek Digital led this third round, taking the...

23 February 2023 | Blockchain Applications

Bosch partners with Fetch.ai on $100m web3 foundation

web3

Global electronics company Bosch is collaborating with Fetch.ai, an AI-focused crypto protocol, to create a $100 million (£83m) web3 grant programme.

The Fetch.ai Foundation will aim to increase industry adoption of technologies relating to artificial intelligence, web3, and the Internet of Things (IoT). It plans to fund research and development into decentralised technology and practical use cases with real-world benefits.

The $100 million will be distributed in grants...

21 February 2023 | Blockchain Applications

Crypto layoffs continue as 200 jobs axed in first week of February

Exit

Crypto companies are continuing to make job cuts amid the bear market and wider layoffs across the technology sector.

More than 200 employees were made redundant across three crypto firms last week. Open-source software lab Protocol Labs cut 89 jobs, crypto exchange Bittrex cut 83, and blockchain analytics firm Chainalysis cut 44.

Juan Benet, CEO of Protocol Labs, announced the job cuts in a post on 3 February, saying that the company needed to focus its headcount down...

6 February 2023 | Cryptocurrency