ChainCatcher news, according to Coindesk, the UK Treasury stated in a statement on Thursday that the UK government will launch a pilot program to issue digital government bond instruments similar to bonds using distributed ledger technology.The Treasury stated: "The government will launch a pilot program to provide digital government bond instruments using distributed ledger technology (DLT) to demonstrate the government's commitment to innovation in the financial services sector." DLT is the underlying technology for crypto assets, where each node can store and update data. UK Treasury Economic Secretary Tulip Siddiq stated that the Labour Party will soon announce its plans in the cryptocurrency sector.Bloomberg cited unnamed sources as saying that the Labour Party is likely to continue following in the footsteps of the previous ruling Conservative Party by developing legislation for stablecoins and staking.

ChainCatcher news, Dutch bank ABN AMRO and Rabobank participated in the issuance of digital commercial paper, which was tokenized on the Deutsche Börse Clearstream D7 DLT.It is reported that this transaction is part of the European Central Bank's distributed ledger experiment for wholesale settlement using central bank money. Dutch bank ABN AMRO has expressed a preference for using public blockchains to issue digital bonds, utilizing Ethereum, Stellar, and Polygon.

ChainCatcher news, according to Ledger Insights, HSBC has issued a one-year digital note worth HKD 1 billion (USD 128 million) using distributed ledger technology (DLT). The structure of this issuance is similar to the HKD 7.56 billion sovereign digital bond issued earlier this year. Therefore, the latest digital note is issued through HSBC Orion DLT, with the local Central Securities Depository (CSD) CMU acting as the platform operator.It is reported that HSBC's blockchain bond tokenization platform, HSBC Orion, uses a combination of Digital Asset's DAML and Hyperledger Fabric technology.

ChainCatcher news, according to a report by Bloomberg, the issuer of the USDT stablecoin, Tether Holdings, had considered launching its own distributed ledger but later abandoned the plan. The company's CEO stated that the economic logic behind this is actually very simple: it is about supply and demand.Tether CEO Paolo Ardoino said in an interview: "We are very good at technology, but I think blockchain will almost become a commodity in the future, and launching our own blockchain may not be a wise move. There are many good blockchains out there. As long as USDT has the highest level of security and sustainability during transactions, he is happy to maintain a development attitude regarding which blockchain its stablecoin is traded on. For us, blockchain is just a transmission layer."

ChainCatcher news, the Bank of England stated that it plans to conduct a series of experiments on Distributed Ledger Technology (DLT) and wholesale Central Bank Digital Currency (wCBDC) to keep up with changes in the payment landscape and assess the opportunities and risks brought by the development of fintech.The bank stated that it will work with the Treasury, payment system regulators, and the Financial Conduct Authority to ensure that the singularity of currency is maintained, even when stablecoins are involved. In other words, ensuring that all forms of currency—cash, bank deposits, etc.—can be exchanged for one another. In the discussion document, the bank indicated that it will conduct a series of experiments to ensure the singularity of currency is maintained between stablecoins and tokenized deposits (i.e., deposit claims represented on programmable platforms).

ChainCatcher news, JPMorgan's blockchain division Onyx is collaborating with fintech company Broadridge to introduce the Web3 payment system JPM Coin to one of Broadridge's repurchase platforms.As part of the deal, Onyx's JPM Coin will serve as the settlement mechanism for Broadridge's distributed ledger repurchase platform, which utilizes blockchain technology to provide intraday, overnight, and term repurchase services. JPM Coin settlement is set to launch in June of this year.

ChainCatcher news, the Hedera Hashgraph development organization Hedera Council has partnered with global snack giant Mondelēz International to work on distributed ledger technology (DLT). It is reported that as a new member of the Hedera Council, Mondelēz International is working to develop DLT solutions based on Hedera, focusing on digital transformation initiatives and supply chain management.

ChainCatcher news, Layer1 distributed ledger technology platform (DLT) Grape has completed a $35 million financing round, with participation from global alternative investment group LDA Capital.It is reported that Grape aims to use this investment to strengthen its market position, enhance the usability of GRP, and further advance Grape's innovative product roadmap, which includes the VINE high-speed distributed ledger, the ANNE AI engine for simplifying smart contract and decentralized application ("DApp") development, and a robust decentralized cloud storage system.

ChainCatcher news, the Abu Dhabi Global Market (ADGM) Registration Authority (RA) has officially released the "2023 Distributed Ledger Technology (DLT) Foundation Regulations," aimed at providing a comprehensive framework for DLT foundations and decentralized autonomous organizations (DAOs) to operate and issue tokens. This regulatory framework is intended to apply to blockchain foundations, Web3 entities, DAOs, and traditional foundations seeking to enhance operations through DLT.

ChainCatcher news, an EU official stated that the EU will continue to advance the pilot program for securities trading based on Distributed Ledger Technology (DLT). This program, which started in April, relaxes financial service regulations, allowing securities traders to interact directly with the market without relying on regulated intermediaries such as brokers and custodians.This pilot program is one of the blockchain technology experiments conducted by the EU alongside other global jurisdictions, with the potential to save up to $100 billion annually for financial markets by releasing collateral and automating back-office processes. Meanwhile, the UK also plans to promote innovation with a five-year DLT securities trial project.

ChainCatcher news, Ki Young Ju, co-founder and CEO of on-chain analytics company CryptoQuant, stated on social media that the CBDC system of the Bank of Korea will be built using a permissioned distributed ledger and will not connect to external open distributed ledger networks. Users participating in actual transaction testing will not be able to transfer the digital currency issued on the CBDC network to open distributed ledgers like Ethereum.

ChainCatcher news, Citibank believes that the investments in the digital asset space over the past few years "are now beginning to pay off," but the technology is still in a growth phase. An increasing number of companies are exploring DLT (Distributed Ledger Technology) and digital assets, with this proportion rising from 47% in 2022 to 74% in 2023.A survey found that despite the collapse of crypto companies, the attention and participation in distributed ledger technology and digital assets are growing. More and more companies are exploring this field.Citibank pointed out that there are now billions of dollars in value being managed through DLT. The issue lies in the personnel and processes implementing DLT, rather than the technology itself.The survey found that regulatory uncertainty could hinder future development, especially in North America and Europe. The digital currency sector, including Central Bank Digital Currencies (CBDCs), is growing rapidly. 87% of market participants believe the industry will be "viable" before 2026, up from 72% last year.Overall, the DLT space is growing faster than the cryptocurrency space. About 87% of custodial service providers are working on DLT and digital assets, but only 25% of asset owners have active projects.Citibank believes that DLT and digital assets require changes in processes and a reshaping of systems, and companies must be prepared to make significant investments in this area.

ChainCatcher news, the Hong Kong-listed company China Information Technology Development Limited disclosed in an announcement on the Hong Kong Stock Exchange that it will issue bonds with a maximum limit of HKD 100 million using Distributed Ledger Technology (DLT), and will implement it using the Digital Ownership Token standard. All bond documents along with their corresponding smart contract code will be referenced to establish a binding Ricardian Contract, using the DOT standard to load the bond security tokens. The bond issuance period is from the initial issuance period until July 12, 2023, with a maturity date of June 27, 2053. (Source link)

ChainCatcher news, the national standard "Reference Architecture for Blockchain and Distributed Ledger Technology" GB/T 42752-2023 was approved and released on May 23. This national standard is under the jurisdiction of TC590 (National Technical Committee for Standardization of Blockchain and Distributed Ledger Technology), with the Ministry of Industry and Information Technology as the supervising department. The main drafting units include the China Electronic Technology Standardization Institute, the Digital Currency Research Institute of the People's Bank of China, Shanghai Wanxiang Blockchain Co., Ltd., Ant Blockchain Technology (Shanghai) Co., Ltd., Huawei Technologies Co., Ltd., etc.; the main drafters include Zhou Ping, Mu Changchun, Li Ming, and others. The National Standard Information Public Service Platform page shows that this GB/T 42752-2023 standard will be implemented on December 1, 2023. (source link)

ChainCatcher News, the White House has released a national standards strategy for critical and emerging technologies, which indicates that the United States will prioritize the development of standards in eight areas, including "digital identity infrastructure and distributed ledger technology." (Source link)

ChainCatcher news, the Science and Technology Department of the Ministry of Industry and Information Technology today publicly solicited opinions on the "Guidelines for the Construction of Blockchain and Distributed Ledger Technology Standard System (2023 Edition)" (draft for comments). It was proposed that by 2023, the top-level design of the blockchain and distributed ledger technology standard system should be clarified, the overall rules for the construction of the standard system and the formulation of standards should be studied, the relationships between standards should be defined, and the development of basic common standards should be prioritized to basically meet the standardization needs of blockchain and distributed ledger technology in China. By 2025, the national blockchain and distributed ledger technology standard system should be further improved, continuously promoting standards for basic commonality, key application demonstrations, and security guarantees in blockchain and distributed ledger technology, effectively guiding the construction of China's blockchain industry and enhancing the level of technology and application services. (Source link)

According to ChainCatcher news, information from the United States Patent and Trademark Office indicates that Sony has successfully applied for a patent for its "token tracking of in-game unique digital assets on a distributed ledger" technology.It is reported that this patent provides a system and method for tracking digital assets associated with video games. Digital assets can be digital items or characters within the game. The technology tracks the history of digital assets by creating a distributed ledger and storing it across devices. (Source link)