Kategorie: Crypto Markets

• Bitwise acquires ETC Group, expanding into Europe with $4.5B in crypto AUM.
• ETC Group’s products will rebrand under Bitwise but there will be no changes to strategies.
• Bitwise anticipates a shift in crypto with the introduction of spot Bitcoin ETFs.

In a strategic move to broaden its global footprint, Bitwise, the largest crypto index fund manager in the United States, has acquired London-based ETC Group, a prominent issuer of crypto exchange-traded products (ETPs).

This acquisition, announced on August 19, 2024, marks Bitwise’s significant expansion into the European market, adding more than $1 billion in assets under management (AUM) to its portfolio and bringing the firm’s total AUM to over $4.5 billion.

ETC Group acquisition gives Bitwise a foothold in Europe

Founded in 2019, ETC Group has established itself as a key player in the European crypto market, offering a range of ETPs, including those based on Bitcoin, Ethereum, Solana, and Ripple. These products will be rebranded under the Bitwise name in the coming months, although the firm has assured that there will be no material changes to the construction or objectives of the existing ETC investment strategies.

Bitwise views this expansion as a pivotal moment in its growth strategy, particularly as it anticipates a dramatic shift in the crypto landscape with the introduction of spot Bitcoin ETFs. According to the CEO of Bitwise, Hunter Horsley, the acquisition allows the company “to serve European investors, offer clients global insight, and expand the product suite with innovative ETPs.”

Bitwise’s move into Europe comes on the heels of several successful product launches in the US, including the Bitwise Bitcoin ETF and the Bitwise Ethereum ETF, which have collectively attracted over $2 billion in assets since their inception earlier this year.

The acquisition also aligns with Bitwise’s prediction of a surge in institutional investment in crypto ETFs, as major financial institutions increasingly offer these products to their clients.

As Bitwise integrates ETC Group into its operations, the firm is poised to capitalize on the growing demand for digital assets across both sides of the Atlantic, further solidifying its position as a leading force in the crypto investment space.

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• HashKey Group and Telegram mini-game Catizen have announced a partnership, with Catizen teh first official Web3 partner.
• The Asia-based firm will leverage the TON blockchain.

HashKey Group has announced Catizen, a Telegram mini-game platform on the TON blockchain, as its first Web3 partner.

The company will use the partnership to bolster Catizen’s Web3 gaming ecosystem, providing the mini-game’s over 29 million users a more compliant and reliable digital experience.

With the partnership announced on August 19 in place, users are set to benefit from gamified digital finance, airdrop campaign and other initiatives.

📢 We are thrilled to announce our partnership with @CatizenAI as our first Web3 partner! 🌐

And this is just the beginning—stay tuned for more collaborations between HashKey Global and Catizen! 🐶🐱

Read more 👉 https://t.co/V2fZJJo3Md pic.twitter.com/S6BJMmATYq

— HashKey Global (@HashKey_Global) August 19, 2024

HashKey Group said in a press release that the company will tap into TON blockchain’s technology to bring these goals into action, targeting further growth within the GameFi and digital entertainment infrastructure market.

“As a phenomenal product in the GameFi sector in 2024, Catizen offers possibilities for the future development of next-generation GameFi. We are excited to continue participating in the global digital entertainment industry innovation based on our collaboration within the Ton ecosystem,” Ben El-Baz, managing director of HashKey Global, stated.

The development comes after HashKey Group struck a strategic partnership with TON Foundation in April.

HashKey’s partnership has since seen TON blockchain experience major developments in the GameFi space, with Catizen one of the Telegram mini-games to explode in user base and number of daily active users. Catizen continues to see significant traction amid viral adoption for competitors such as Kombat Hamster.

 

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• Tether will soon bring USDT minting to Aptos blockchain.
• USDT is the world’s largest stablecoin with a market cap of over $116 billion.
• Integration will boost Aptos’ decentralised finance ecosytem.

Tether’s USDT stablecoin will soon be available on the Aptos, the company behind the US dollar-pegged stablecoin announced on Monday.

According to Tether, the integration is part of the company’s broader strategy to bring the benefits of digital currencies to more people globally.

USDT expands to Aptos

The expansion to Aptos, a blockchain network designed to offer speed and scalability, gives Tether another opportunity to realise this goal. With Aptos making transaction costs extremely low, the community will be able to tap into use cases such as microtransactions.

“Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USD₮. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools,” Paolo Ardoino, CEO of Tether, said in a statement.

USDT is the world’s leading stablecoin by market cap, currently at over $116 billion and daily volume of over $31 billion. Meanwhile, Aptos is currently the world’s 33rd largest cryptocurrency network by market cap at $2.8 billion.

Apart from the integration helping to grow Tether’s user base, it also brings the benefits of USDT’s market reach to provide developers a more robust ecosystem for project development. Builders on Aptos will combine USDT and Move on Aptos to expand both the decentralised finance (DeFi) and payments ecosystem on Aptos.

“The launch of USD₮ on Aptos accelerates the availability and utility of real-world value for institutions, Web3 builders, and regular people worldwide,” Bashar Lazaar, head of grants & ecosystem at Aptos Foundation, noted.

Tether has expanded to several blockchains, including TON blockchain. However, most supply is on Tron and Ethereum, while the stablecoin issuer has recently discontinued minting on EOS and Algorand blockchains.

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• Malaysia adopts Worldcoin’s iris scan tech for national digital ID verification.
• The collaboration aims to integrate Worldcoin tech into Malaysia’s digital infrastructure.
• Global privacy concerns and scrutiny persist amid Worldcoin’s expansion efforts.

Malaysia has officially adopted Worldcoin’s iris scan technology for personal verification, marking a major milestone in the nation’s digital transformation strategy.

This move is part of a broader effort to enhance digital infrastructure and improve the verification of digital credentials across the country.

Just in: Worldcoin & MIMOS are partnering to bring digital proof of humanness to Malaysia 🇲🇾 pic.twitter.com/16azSu4hZH

— Worldcoin (@worldcoin) August 16, 2024

Integrating Worldcoin tech into Malaysia’s digital infrastructure

The initiative results from a collaboration between the Worldcoin Foundation, Tools for Humanity (TFH), MyEG, and MIMOS Berhad, the Malaysian government’s application research and development arm.

The partnership aims to integrate Worldcoin’s advanced biometric verification system into Malaysia’s digital ecosystem, providing a secure and efficient method for verifying individual identities, known as “proof of humanness.”

This collaboration extends beyond just identity verification. Potential future developments include joint manufacturing of the “Orb,” the device used for iris scans, and integrating Worldcoin’s blockchain technology with Malaysia’s National Blockchain Infrastructure.

The partnership also emphasizes the open-source availability of Worldcoin’s technology, ensuring transparency and fostering innovation.

Worldcoin continues to expand despite regulatory challenges

While adopting Worldcoin technology is seen as a forward-looking step, it comes amid global scrutiny. Several countries have raised concerns over privacy and data security related to biometric data collection.

For instance, the Bavarian State Office for Data Protection Supervision in Germany and the Office of the Privacy Commissioner for Personal Data in Hong Kong have both investigated Worldcoin’s operations.

In some regions, such as Spain and Hong Kong, these concerns have temporarily suspended Worldcoin’s services.

Despite these challenges, Worldcoin continues to push for global expansion, working to comply with local privacy laws and address regulatory concerns. Malaysia’s adoption of this technology underscores the nation’s commitment to leveraging cutting-edge solutions for national development, though it remains to be seen how the global controversies will impact its implementation.

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