Industry leaders at the Benzinga Future of Digital Assets conference discussed the challenges and opportunities of tokenization. Key hurdles include infrastructure limitations, scalability, user experience, and regulatory uncertainty. Collaboration between financial institutions, technology providers, and regulators is crucial for widespread adoption, focusing on building trust and bridging the gap between traditional finance and blockchain.
Paul Giordano, Vice President of Digital Assets at MARA, discusses the transformative potential of blockchain technology in streamlining financial processes. He highlights its ability to reduce inefficiencies, lower transaction costs, and enhance security. However, Giordano also acknowledges the significant challenges posed by the regulatory landscape, emphasizing the need for alignment in areas such as anti-money laundering (AML) and know-your-customer (KYC) standards.
Anthony Moro, CEO of Provenance Blockchain Labs, urges Congress to provide clear regulations for blockchain and digital assets, arguing that current frameworks are inadequate and hindering U.S. leadership in the burgeoning Web 3.0 space. He highlights the need for updated regulations that address blockchain specifically, allowing U.S. banks to participate in digital asset custody, and creating a more inclusive digital asset environment. This, he believes, will enable the US to become a leader in the global digital finance landscape.
The Michigan State Pension Fund has made a significant investment in Grayscale’s Ethereum ETF, highlighting growing institutional interest in digital assets. This move comes alongside a surge in overall digital asset investment products, driven by market anticipation of a potential Republican victory in the U.S. presidential election. The inflows have pushed total assets under management in digital assets to over $100 billion, indicating a strong bullish sentiment.
DeFi Technologies Inc., a leading financial technology company focused on decentralized finance (DeFi), has announced that its subsidiary, Valour, has achieved a significant milestone with assets under management (AUM) reaching C$757 million (US$593 million) as of October 31, 2024. This represents a 62% increase year-to-date, fueled by consistent monthly inflows and a strong financial position. Valour’s key products, including Valour SUI SEK, Valour BTC 0, and Valour TAO SEK, have driven this growth, highlighting the increasing investor confidence in Valour’s innovative digital asset ETPs.
As the US presidential election approaches, the crypto industry is watching closely as potential replacements for SEC Chair Gary Gensler emerge. With both candidates indicating plans to replace him, the future of crypto regulation remains uncertain. This article examines the potential candidates, their stances on crypto, and the implications for the industry’s future.
Jade City, a blockchain platform focused on tokenizing the jade gemstone market, has launched its Minimum Viable Product (MVP). This innovative platform seeks to introduce transparency and accessibility to the historically opaque jade industry, estimated to be worth $50 billion annually in China alone. Backed by a partnership with one of the world’s largest jade mines, Jade City offers jade-backed bonds with yields up to 24% annually, while its tokenized jade enables trading, earning, and speculation. This development comes at a time of growing interest in tokenized real-world assets and will be discussed at Benzinga’s Future of Digital Assets event on November 19th.
Tanya Solati, vice president of business development at Propy, believes the upcoming U.S. Congress session presents a critical opportunity for meaningful regulatory progress in the digital asset space. She highlights the need for tax reforms and clearer asset classifications to drive wider adoption, particularly emphasizing the potential of tokenized real-world assets (RWAs). Solati’s insights offer valuable perspectives on the future of digital finance and the role of regulation in shaping its evolution.
Grayscale Investments has announced that its new Bitcoin and Ethereum exchange-traded products (ETPs) have seen significant investor interest, with inflows exceeding $750 million since their launch in July. This success is attributed to the low fees associated with these products, designed to make crypto accessible to a wider range of investors.
Former President Donald Trump’s cryptocurrency portfolio has surged by over $429,000 in the past month, fueled by a surge in the value of digital assets linked to his brand and campaign slogans. The gains highlight a growing trend in the crypto market where assets tied to public figures are attracting increased attention, especially with the 2024 US presidential election approaching.
