Cryptocurrency News TheBitTimes.com

Legacy bank HSBC announced its latest blockchain endeavor in partnership with a Ripple-owned firm to service institutional clients with demand for real-world assets (RWA) hosted on-chain. According to a Nov. 8 statement, HSBC plans to launch a digital asset custody service for tokenized financial instruments sometime in 2024. Metaco, a Swiss firm specializing in safeguarding crypto assets, was named HSBC’s partner for its new product. Ripple acquired Metaco for $250 million in May 2023. The bank said the offering would complete a 360-degree platform along with its digital asset issuance service and its product which tokenizes physical gold, allowing eligible investors greater access to RWAs and traditional investment vehicles housed on blockchain networks.  1/3 @HSBC announced that it is working with @metaco_sa as it plans to launch a new digital assets custody service for institutional clients who invest in tokenised securities . To learn more: https://t.co/aI6IiaEvhu cc @M...

After acquiring the crypto tax platform Accointing in October 2022, Glassnode is selling the business to focus on DeFi and institutional offerings. Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi). Glassnode, on Nov. 6 announced the sale of its crypto-focused tax platform known as Accointing to the European crypto compliance provider Blockpit. The firms declined to disclose the size of the deal to Cointelegraph, only revealing that the transaction was a “multimillion-dollar deal.” “Glassnode will exit the crypto tax space with the sale of Accointing to Blockpit,” a spokesperson said, adding that the deal enables the firm to deepen its focus on delivering new Digital Asset Intelligence Solutions to its institutional clients. “We have used the last months to reshape our infrastructure, enabling our move into DeFi data solutions and expansions into ot...

Circle announced the launch of a new platform that uses pre-vetted templates to make building Web3 apps easier for traditional developers. Stablecoin issuer Circle has launched a new tool that it says will allow developers to “remove the complexity” of building Web3 apps, according to an announcement and accompanying social media post on October 19. Called “Smart Contract Platform,” the new tool allows developers to deploy smart contracts using a set of pre-vetted code templates and either a console or REST APIs, making it potentially easier for traditional Web2 programmers to use. Circle also released a Gas Station tool that lets developer s pay for their users’ gas fees, which they claim may make onboarding users easier. 1/ Introducing Gas Station and Smart Contract Platform - built for #devs & available in beta! Our two new #Web3 Services products provide solutions for devs & businesses to remove cost, complexity & friction for app users. Let’s dive in to learn how ou...

The news comes after Amber Group reportedly pulled back expansion plans due to financial exposure in the FTX collapse. Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has report edly acquired crypto currency platform , Sparrow Holdings according to an announcement on Dec. 14. The Singaporean crypto platform Sparrow Holdings, which offers digital assets products and solutions, acquired its payments license from the Monetary Authority of Singapore in August, to provide Digital Payment Token (DPT) services in Singapore, under the Payment Services Act (PSA). Founded in 2018, Sparrow works with financial institutions and family offices in designing bespoke digital asset solutions to achieve customer-centric growth objectives, while maintaining compliance requirements.  Related: Amber Group uses simple hardware to show just how fast, easy the Wintermute hack was The news of Amber Group's acqui...