Monat: Mai 2024

• Nomura Holdings and Laser Digital have partnered with GMO Internet Group on a new stablecoin-focused project.
• The companies will collaborate in the issuance, redemption and circulation of Japanese yen and US dollar-pegged stablecoins in Japan

Nomura Holdings, the Japanese banking and investment giant, is teaming up with GMO Internet Group to explore the issuance of fiat-backed stablecoins in Japan.

The collaboration, according to an announcement published on Monday, will see Nomura Holdings, through its digital assets arm Laser Digital, support the issuance, redemption and circulation of Japanese yen (JPY) and US dollar-(USD) denominated stablecoins.

Eyeing the stablecoin market in Japan

As well as JPY and USD stablecoins, Nomura and GMO plan to offer a “Stablecoin-as-a-Service” solution. The project will support companies looking to issue stablecoins for the Japanese market. 

Users of this new service will benefit from aspects such as regulatory compliance management, blockchain integration and backend transactions management.

According to today’s announcement, Nomura will contribute to the project via its extensive expertise in crypto trading, asset management and venture investment. GMO will offer the technological expertise.

“We’re grateful to be cooperating with the Nomura Group to explore the issuance of stablecoins in the Japanese market. Their infrastructure and heritage alongside the experience of Laser Digital, are of paramount importance to the success of this project in Japan,” Masatoshi Kumagai, founder and Group CEO of GMO Internet Group, said in a statement.

 “This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape,” Nomura Holdings President and CEO Kentaro Okuda, noted.

Laser Digital and GMO seeing growth

Nomura announced its digital assets subsidiary in March 2022, with Laser Digital now a prominent player in the crypto and blockchain space. Recently, the platform partnered with Pyth Network as a data provider.

GMO-Z.com Trust Company, GMO’s US subsidiary, has issued stablecoins on top blockchains, including Ethereum, Stellar, and Solana.

The NYDFS-chartered platform’s regulatory-compliant stablecoins include GYEN and ZUSD.

The post Nomura partners with GMO to explore stablecoin issuance in Japan appeared first on CoinJournal.

• Toncoin price bounces as total value locked (TVL) on the TON Blockchain surpasses $300 million.
• DeFiLlama data showed TON Blockchain’s TVL at $315 million, up from $156 million on May 1.
• Telegram related news and Pantera Capital’s investment have been notable catalysts for Toncoin (TON).

Toncoin (TON), the native cryptocurrency token of The Open Network (TON) Blockchain, currently trades around $6.40.

After flipping negative amid profit-taking in recent days, the price of Toncoin looks poised for a major bounce.

TON Blockchain TVL surpasses $300 million

According to data from DeFiLlama, the total value locked (TVL) on the TON Blockchain has increased sharply this month. Indeed, the TON’s ecosystem has seen the TVL jump from $156 million on May 1 to currently stand at $315 million.

The milestone comes as TON shows growing traction in the decentralized finance (DeFi) market. Top projects are across decentralized exchanges (DEXes), lending, liquid staking and gaming.

In the past month, for instance, DEX protocols Ston.fi and Dedust recorded a TVL surge of 132% and 30% respectively. Liquid staking protocols Tonstakers and bemo also recorded notable increases of 20% and 17% respectively.

Toncoin price outlook

Toncoin price reached highs of $7.63 in April, riding positive news and network developments.

Telegram’s launch of an ad revenue share program with payouts in Toncoin and a TON Blockchain promotion The Open League provided some of the upside momentum.

There was also a massive surge for TON token when venture capital firm Pantera Capital revealed a new investment in TON.

The recent market debut of Notcoin (NOT) also provided buyside pressure for Toncoin.

However, TON price dipped amid a retreat for the broader market, with Bitcoin and Ethereum’s declines to support levels last week adding to the downside pressure.

BTC and ETH are back above $68,000 and $3,800 respectively, helping top altcoins higher as meme coins Pepe and FLOKI outperform peers.

TON price looks poised for a bounce as it flips green on the daily chart.

If bulls strengthen above the immediate support zone, a breakout to $7 could bring a new all-time high into view.

On the other hand, a downturn would risk a retreat to lows of $5.64 and potentially $4.86.

The post Toncoin price: What next for TON as TVL surpasses $300 million? appeared first on CoinJournal.

• Pepe price is up 80% this past week and over 140% in 30 days.
• FLOKI has jumped 36% this past week and 53% in the last 30 days.

Pepe (PEPE) was the standout memecoin this past week, rising more than 80% to reach a new all-time high of $0.0000169 on May 27. Meanwhile, Floki (FLOKI) has surged to $0.0002656 amid fresh momentum in the memecoin market.

PEPE and FLOKI lead meme coins up

PEPE price is up 14% in the past 24 hours, bringing 30-day gains for the meme coin to 140%. Pepe has outperformed top meme coins over this period.

The 24-hour trading volume of Pepe stood at over $1.8 billion at the time of writing. Except for the stablecoins USDT, USDC and FDUSD, Pepe’s volume is fourth-largest behind Solana, Ethereum and Bitcoin.

The upside sees Pepe cement its position as the third-largest meme coin by market cap. At $7.1 billion, it is more than double that of Dogwifhat ($3.1 billion) but behind the top two of Shiba Inu and Dogecoin at $14.6 billion and $24 billion respectively.

Elsewhere, FLOKI price is up 18% in the past 24 hours and 53% in the past two weeks to hit highs last seen in March 2024.

The uptrend is solidifying as investors eye top meme coins. Coinbase announcing support for FLOKI perpetual futures has catalysed further interest ahead of listing on May 30.

Can FLOKI ride this and other catalysts to reach a new all-time high? Bulls appear in control.

Read more: Analysts bullish on Floki as Pepe and Bonk rally.

Crypto upbeat ahead of US election

The past week was largely positive for cryptocurrency after major regulatory-related developments in the US. The SEC approved spot Ethereum ETFs and lawmakers passed key crypto bills that experts say suggest a flip in the regulatory landscape.

Former US president Donald J. Trump’s recent remarks about crypto has buoyed sentiment, propeling PolitiFi tokens.

While ETH price consolidated above $3,700 after the ETF news, it has climbed above $3,900 on Monday, and could eye a new high amid bullish predictions for Bitcoin (BTC) and the altcoin market.

In this case, its likely PEPE and FLOKI’s price gains are just getting started.

Other memecoins making waves in the market today are Bonk (BONK) and MAGA (TRUMP) – the latter surging by more than 25% in the past 24 hours to reach a new all-time high above $13.

The post PEPE and FLOKI extend gains as memecoins tease bull run appeared first on CoinJournal.

• Trump pledged to free Ross Ulbricht should he win the upcoming US presidential election.
• Ulbricht is the creator of the defunct marketplace Silk Road and is currently serving a life sentence.

Former US president Donald J. Trump has pledged to release Silk Road founder Ross Ulbricht should he be re-elected as president of the United States in the upcoming elections.

The former US president is seeking re-election and has over the past several months made a massive impression on the crypto community.

Now one of his election pledges is that he will commute Ulbricht’s sentence as soon as he takes office.

“If you vote for me, on day one I will commute the sentence of Ross Ulbricht to a sentence of time served,” Trump noted in remarks made at the Libertarian National Convention in Washington, D.C on Saturday.

Whos is Ross Ulbricht?

Ross Ulbricht, aka Dread Pirate Roberts, created Silk Road in 2011 and operated the darknet marketplace until October 2013.

US law enforcement accused Ulbricht of running an online criminal enterprise among other charges. Prosecution stated that Silk Road had enabled the sale and purchase of more than $200 million worth of illegal drugs and other illicit goods and services.

In total, he faced seven counts, including conspiracy to launder money, narcotics trafficking and computer hacking.

Following his arrest in October 2013, Ulbricht was found guilty on all seven counts in 2015. The court sentenced him two life terms and a separate 40 years without the possibility of parole.

Many have criticised Ulbricht’s treatment and sentence and calls for his release continue across the crypto community.

“He’s already served 11 years, [and] we’re gonna get him home,” he added as the audience exploded in cheers.

Trump wants US to lead in crypto innovation

As well as this promise, Trump has asserted that his administration, if elected, will support the crypto industry and make the US the global leader.

“Our country must be the leader in the field. There is no second place,” he wrote on Truth Social.

Trump is also in support of crypto self-custody, noting that a vote from the over 50 million Americans holding crypto today will be a vote to “keep Elizabeth Warren and her goons away” from people’s Bitcoin. Trump will also not allow a US central bank digital currency (CBDC).

The post Trump promises to free Silk Road creator Ross Ulbricht if re-elected appeared first on CoinJournal.