Latest Blockchain News

Horizontal Banner
13 Days ago
JPMorgan Explores Blockchain Uses in Portfolio Management
author image

JPMorgan’s digital asset division, Onyx, is leading a collaborative effort that focuses on the use cases of blockchain interoperability in portfolio management.

The bank is developing a proof-of-concept project under “Project Guardian,” an initiative launched by the Monetary Authority of Singapore (MAS) that revolves around swap services for tokenized assets on decentralized networks.

According to Project Guardian’s thesis, it is essential to develop a one-stop-shop for managing digitized real-world assets across multiple blockchains by using solutions like account abstraction and Layer 2 settlement.

JPMorgan’s Onyx has collaborated with wealth managers like Apollo and WisdomTree for a new initiative. The joint effort includes blockchain-native entities such as Provenance, LayerZero, Axelar, Oasis Pro, and Biconomy, as announced by Tyler Lobban, Head of Blockchain and Onyx Digital Assets at JPMorgan.

According to Lobban, this initiative aims to address the pain points associated with contemporary asset and wealth management. These include managing discretionary portfolios at scale and executing automated transactions for tokenized financial assets using blockchain protocols.

JPMorgan has recently announced its involvement in a number of digital asset-related operations, as banks seek to capitalize on blockchain technology and leverage on-chain solutions that complement traditional finance.

As reported by, the bank has added programmable payments to its JPM Coin and has set a goal of achieving $10 billion in transactions within the next year. Additionally, JPMorgan has launched its Tokenized Collateral Network, which enables investors to deploy collateral without the need to transfer assets.

Read More
IMF Head
13 Days ago
IMF Head: CBDCs Could Replace Cash
author image

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, encouraged the public sector to continue preparing for the future deployment of central bank digital currencies (CBDCs) and related payment platforms. 

During her opening speech at the Singapore FinTech Festival, Georgieva emphasized the potential of CBDCs to replace cash, provide resilience in advanced economies, and enhance financial inclusion in underbanked communities. According to Georgieva, CBDCs can coexist with private money as a safe and low-cost alternative.

Georgieva expressed her optimism about the implementation of CBDCs worldwide but said, “We have not yet reached the land,” and there is still much uncertainty. Adoption of CBDCs is nowhere close. But about 60 percent of countries are exploring them in some form today.”

During her speech, Georgieva emphasized the importance of having strong technological infrastructure in CBDC projects and the need for personal data protection. She also suggested that artificial intelligence (AI) could play a role in enhancing national digital currencies. 

Georgieva emphasized the importance of cross-border payment support, stating that CBDCs must be designed to facilitate these types of payments, which are currently expensive, slow, and only available to a few. She urged immediate action to ensure that CBDCs are built with cross-border payments in mind. 

She also presented the IMF’s CBDC virtual handbook and highlighted the Bank for International Settlements (BIS) role in digital money experiments in the public sector. 

The IMF has been actively analyzing necessary crypto regulations. On September 29, it proposed a crypto-risk assessment matrix to help countries spot indicators and triggers of potential risks in the sector. The IMF’s Synthesis Paper, which was jointly prepared with the Financial Stability Board, was unanimously adopted by G20 finance ministers and central bank governors in October.

Read More
14 Days ago
Goldman Sachs, BNP Paribas Lead around $100 Mln Funding Round To Fnality
author image

Fnality, a fintech firm specializing in asset tokenization, has raised nearly $100 million in its Series B funding round. 

The investment was led by Goldman Sachs and BNP Paribas, with participation from other major players like DTCC, Euroclear, Nomura, and WisdomTree. 

Fnality builds tokenized versions of major currencies that are backed by cash held in central banks. The company raised $95 million in its Series B funding round, enabling it to continue expanding its business and exploring new opportunities in the world of asset tokenization.

DTCC, Euroclear, Nomura, and WisdomTree, among other leading players, participated in the funding round. Some banks that supported the funding round in 2019 also participated in this round. These banks include Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, and UBS.

Tokenizing traditional financial assets on public blockchains like Ethereum has recently become an important topic. Previously known as the Utility Settlement Coin project, Fnality is an initiative that aims to provide Delivery versus Payment (DvP) for wholesale banking using shared ledgers.

Rhomaios Ram, CEO of Fnality International, has commented on their recent B Series funding round. He mentioned that the funding round reflects the increasing demand for a blockchain-based settlement solution that central banks back. Their solution aims to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi) in the financial sector. 

Mathew McDermott, who heads the digital assets division at Goldman Sachs, believes that Fnality is playing a significant role in the tokenization trend. He added that Fnality’s blockchain technology provides institutions with a flexible way to use central bank funds for various use cases, including instant cross-border payments, multi-currency payments, collateral mobility, and secure transactions.

Read More
Immutable x Ubisoft
16 Days ago
Ubisoft Cooperates with Immutable To Develop Blockchain-based Games
author image

Ubisoft, a major video game publisher, has partnered with blockchain game developer Immutable to collaborate on creating web3 games.

This partnership aims to merge Ubisoft’s AAA game development expertise with Immutable’s blockchain-based gaming experience.

Ubisoft will closely work with Immutable through its Strategic Innovation Lab to integrate features like digital asset ownership and decentralized systems into gameplay experiences.

Immutable, known for games like Guild of Guardians, showcases innovative uses of web3 technology. The blockchain studio has an existing infrastructure that enables game developers to build titles that run on Ethereum, leveraging its security and transparency.

This collaboration represents a significant milestone for bringing web3 gaming into the mainstream. With Ubisoft’s interest in decentralized gaming, one of the largest and most well-known video game companies, validates the potential of blockchain-based gaming.

Nicolas Pouard, the Head of Blockchain at Ubisoft, is thrilled about the partnership and believes that it will enable the company to focus on creating a fun gaming experience while Immutable handles the blockchain components seamlessly in the background.

Ubisoft’s strategic move to adapt to emerging trends in the gaming industry is evident with the growth of play-to-earn gaming and digital ownership of in-game assets. This partnership lays the groundwork for Ubisoft to release interactive and blockchain-driven experiences that are unique and engaging.

Although details are still limited, gamers can expect to hear more news about the collaboration as the two studios combine their expertise and create something new for web3 players. This partnership highlights the growing appeal and traction of blockchain technology in the traditional gaming world.

Read More