By Shikha Singh
Circle Enters Tokenization Race by Acquiring Hashnote.
Circle, the company behind the $48 billion USDC stablecoin, has acquired Hashnote, an issuer of tokenized RWAs.
This deal, announced during the World Economic Forum in Davos, Switzerland, allows Circle to integrate Hashnote’s USYC token with USDC, enabling the convertibility of cash and yield-bearing collateral on blockchains. USYC, a token backed by U.S. Treasury assets, has seen significant growth, becoming the largest tokenized U.S. Treasury product.
Circle’s CEO, Jeremy Allaire, emphasized the importance of aligning traditional financial structures with blockchain’s speed and transparency. The acquisition highlights the growing importance of stablecoins and tokenization, two key trends in crypto.
Tokenize Xchange’s Development Arm Buys Blockchain Intelligence Firm Coinseeker for $30 mn
Tokenize Xchange’s development arm has acquired blockchain intelligence platform Coinseeker for $30 million.
The acquisition will enable Titan Lab, the developer of Tokenize’s Titan Chain, to integrate Coinseeker’s AI-powered analytics, ratings, and insights into its operations.
Tokenize Xchange, based in Singapore, is a digital asset exchange serving both retail and institutional clients, with a 24-hour trading volume of over $250 million.
Ethereum Layer 2 SOON Raises $22 mn Via NFT Sale For Mainnet Launch
SOON, also known as the Solana Optimistic Network, has raised $22 million through an NFT sale to fund its mainnet launch and blockchain infrastructure development.
The platform, built on Ethereum and using the Solana Virtual Machine (SVM) for execution, claims to outperform Solana in speed, with average block times of 50 milliseconds, compared to Solana’s 400 milliseconds.
The NFT sale, led by Hack VC, also saw participation from several venture firms, including ABCDE, Anagram, and others. SOON is positioning itself as a high-speed, scalable layer-2 (L2) solution.
Corn Raises $8.3 mn in Community Funding To Push Bitcoin’s Use On Its Ethereum Layer 2
Corn, an Ethereum Layer 2 network aiming to utilize Bitcoin within the decentralized finance ecosystem, has raised $8.3 million in a community funding round.
The round was raised through a compliant token sale platform called Legion and involved 675 investors alongside venture and investment firms, including Polychain, Amber, GSR, Presto, Laser Digital, and others.
Aviation DePIN Network Wingbits Raises $5.6 mn for Decentralized Flight Tracking
The aviation industry-focused decentralized physical infrastructure (DePIN) startup Wingbits has raised $5.6 million, increasing its total funding to $9.2 million. Borderless Capital and Bullish Capital lead the investment round, which aims to develop rewards-based flight tracking using cryptographically-secured Automatic Dependent Surveillance–Broadcast (ADS-B) receivers. Wingbits is leveraging the DePIN model, which uses decentralized networks to secure hardware, similar to the cloud computing services provided by major tech companies.
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