By Shikha Singh
Securitize Launches $1 bn Partnership with Elixir To Increase RWA Liquidity.
Securitize has partnered with Elixir in a $1 billion deal to launch the “deUSD RWA Institutional Program,” aimed at bridging real-world assets (RWAs) into decentralized finance (DeFi).
This initiative allows RWA holders, like BlackRock BUIDL, to access DeFi liquidity while earning yields through Elixir’s token platform.
The program offers isolated yield exposure, attracting institutional clients to combine DeFi opportunities with traditional investments.
This partnership comes amid growing efforts by blockchain firms, including BNB Chain and BlackRock BUIDL, to entice institutional investors into the RWA space.
Elixir claims over $100 million in token liquidity, though it may need further expansion.
Sky Introduces USDS Stablecoin on Solana.
The launch of USDS on the Solana blockchain marks a significant step for the newly rebranded Sky protocol, formerly Maker, aiming to become a key player in Solana’s growing DeFi ecosystem.
To drive adoption, Sky is offering a $500,000 rewards program for liquidity providers and users on platforms like Kamino Finance, Drift Protocol, and Save Finance.
USDS, currently the third-largest stablecoin with a market cap of $5.3 billion, seeks to differentiate itself in the competitive stablecoin market, where USDT and USDC dominate.
The Solana DeFi space has seen impressive growth, with TVL increasing by 487% this year. Looking ahead, Sky plans to enhance interoperability with the SkyLink cross-chain bridge.
Grayscale’s Bitcoin & Ethereum Mini ETFs See Share Prices Multiply.
Grayscale Investments has implemented reverse share splits for its Bitcoin Mini Trust ETF (BTC) and Ethereum Mini Trust ETF (ETH), effective November 19, 2024.
The BTC shares will increase fivefold, and the ETH shares will rise tenfold, reducing the number of outstanding shares accordingly.
DTC participants can either track fractional shares or sell them, with cash proceeds going to the shareholders.
The adjusted shares will continue trading on NYSE Arca under the same symbols but with new CUSIP numbers.
Since 2013, Grayscale, the largest crypto asset manager, has warned that these funds, not registered under the 1940 Act, carry higher risks and volatility.
Ethereum Address “vitalik.eth” Mints 400 Patron NFTs Amid Market Revival Hopes.
Vitalik Buterin’s Ethereum address recently moved 32 ETH to Base and minted 400 Patron NFTs, part of the Truemarkets Fair launch, which will allocate over 40% of the TRUE token supply to Patron holders during the upcoming token generation event (TGE).
This transaction has sparked speculation about a potential NFT comeback, especially as the broader crypto market shows strong growth.
While notable collections like Bored Ape Yacht Club and CryptoPunks have seen price surges, the NFT market has struggled in 2024, with 98% of collections experiencing minimal trading activity.
Base, Coinbase’s Ethereum layer-2 network, recently surpassed 1 billion transactions, though its NFT faced controversy for allegedly copying an artist’s work.
Brazil’s Central Bank Partners with Chainlink and Microsoft for DREX, a Trade-Focused CBDC.
The Central Bank of Brazil is collaborating with Chainlink, Microsoft, Banco Inter, and 7COMm to develop DREX, a new central bank digital currency (CBDC) focused on cross-border trade, particularly agricultural transactions.
DREX will integrate blockchain and AI technology, utilizing Chainlink’s interoperability protocol (CCIP) for trade finance.
The second phase of DREX testing will focus on tokenizing bills of lading and enabling smoother cross-border payments with the potential for widespread use if successful.
South Korea Plans To Implement Cryptocurrency Taxation In 2025.
South Korea’s ruling party is moving ahead with a plan to tax cryptocurrency gains starting January 1, 2025, after delaying the implementation twice.
The original plan included a 20% tax on crypto profits, plus an additional 2% local tax. In response to concerns from investors, the government is revising the plan to raise the tax exemption threshold from 2.5 million Korean won (about $1,795) to 50 million Korean won (around $35,919).
This adjustment aims to ease the tax burden on smaller investors while still advancing regulatory efforts for the cryptocurrency sector. The industry will closely monitor any further changes to the proposal as the implementation date approaches.
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