By Kapil Rajyaguru
Texas and Oklahoma Move to Create State Bitcoin Reserves.
Lawmakers in Texas and Oklahoma have introduced parallel legislation to establish strategic Bitcoin reserves in their respective states. Texas State Senator Charles Schwertner’s bill proposes creating a special fund to hold Bitcoin as a state asset, with purchases limited to 1% of general revenue. The bill includes provisions for cold storage, regular audits, and public donations.
Meanwhile, Oklahoma Representative Cody Maynard’s House Bill 1203 would allow state pension funds and savings accounts to invest in Bitcoin as an inflation hedge. Both bills reflect growing interest in cryptocurrency adoption at the state level.
Indian Telecom Giant Jio Joins Hands With Polygon to Bring Web3 to Over 450mn Users.
Indian telecom and technology company Jio Platforms (JPL) is taking significant steps to enhance the digital experience for its more than 450 million users. Jio Platforms is a wholly owned subsidiary of energy giant Reliance Industries. Mukesh Ambani, one of Asia’s richest men, and his family are leading Reliance.
Jio has partnered with Polygon Labs, the development team behind Polygon Protocols, to launch its Web3 and blockchain services in India, the company said on Thursday. This collaboration will leverage Polygon’s advanced blockchain technology to add innovative Web3 capabilities to some of Jio Platform’s existing applications and services.
Sigma Capital’s $100mn Fund Plans To Invest In 100 Web3 Projects.
Cryptocurrency venture capital firm Sigma Capital has launched a $100 million investment fund, tipping plans to invest in Web3 startups across the United Arab Emirates and globally.
The announcement states that early-stage Web3 companies and liquid tokens in the decentralized finance, blockchain infrastructure, metaverse, gaming, and real-world asset (RWA) tokenization markets will receive the capital.
Cannes Launches Web3 Initiative to Encourage Cryptocurrency Payments.
In a recent development, Cannes, France, the venue for the International Film Festival, announced that it will encourage the city’s merchants to access the cryptocurrency payment system. It is launching a Web3 initiative to encourage and train local merchants to accept cryptocurrency payments.
The goal is to attract high-spending customers, especially as cryptocurrencies become more popular globally. This move is particularly timely as Cannes will host the Ethereum Community Conference (EthCC) in 2025, attracting thousands of crypto-savvy attendees.
A map listing “crypto-friendly” businesses will be made available, helping local commerce tap into new economic opportunities.
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