JPMorgan officially registers a crypto wallet trademark
American banking giant JPMorgan (NYSE: JPM) continues to thrive in the cryptocurrency sector. In this line, the institution has registered a trademark with the United States Patent and Trademark Office (USPTO) for “J.P. Morgan Wallet,’ seeking to offer a crypto wallet for digital currency exchange and transfer. The trademark was granted by USPTO on November 15.
Cardano’s algorithmic stablecoin will hit the market in early next year
According to an announcement developers made at the Cardano Summit in Lausanne, Switzerland, a Cardano-powered algorithmic stablecoin called DJED is set to launch early next year on the smart contract platform’s mainnet.
DJED is an algorithmic stablecoin issued by FinTech startup COTI Group. It’s a crypto-backed pegged algorithmic stablecoin for Cardano that uses smart contracts to ensure price stabilization.
Block.one and its CEO become largest Silvergate Capital shareholders
Block.one, the original developer of the EOSIO blockchain platform, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank. The purchase of nearly 3 million shares represents 9.27% of Silvergate stock, making them Silvergate’s largest shareholder. Before that, Silvergate Capital also acquired Meta’s Diem Stablecoin project.
Singapore leverages Polygon and Aave in first DeFi wholesale markets transaction
The Monetary Authority of Singapore (MAS) successfully piloted a cross-currency transaction involving tokenized Japanese yen and Singapore dollar, using DeFi lending platform Aave and Polygon blockchain.
In an announcement published by MAS, DBS Bank, JP Morgan and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenized Singapore Government Securities Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD).