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, according to The Block, NH Bank of Korea has partnered with Ethereum infrastructure provider Fireblocks to support the crypto prototype the bank is building. The two companies have signed a memorandum of understanding, which is a non-binding agreement outlining the intent of both parties to collaborate.Specifically, NHBank will use the Fireblocks Tokenization Engine to explore the integration of digital assets into its VAT and other refund processes.This also includes its inheritance tax process, which targets the taxation of capital transferred to future generations. In addition to the refund pilot, NHBank is also seeking to identify other "blockchain-driven projects within the NHBank ecosystem and create pathways for collaboration with global financial institutions."

ChainCatcher news, according to Ledger Insights, the Bank of Korea has announced a cooperation agreement with the Ministry of Science and ICT (MSIT) and the Financial Services Commission (FSC) to jointly test the feasibility of digital currency (CBDC) and tokenized deposits.The central bank plans to pilot tokenized deposits among 100,000 people by the end of the year and achieve interbank settlement through wholesale CBDC. In this trial, seven domestic banks will participate, and tokenized deposits will be protected under the current deposit insurance system.In addition, the central bank has developed a digital voucher platform to reduce the complexity and fraud risk associated with paper voucher settlements.

ChainCatcher news, according to Ledger Insights, the French deposit bank (CDC) recently issued €100 million ($108 million) in digital bonds, using the French central bank's DL3S DLT platform and its pilot wholesale central bank digital currency wCBDC for settlement. This transaction is part of the European Central Bank's wholesale DLT settlement pilot, which will conclude this month.The French central bank avoids using the term wholesale CBDC, instead referring to it as a tokenized representation of central bank currency. For the issuance by CDC, it needed to synchronize the issuance of digital native notes (DNN) on Euroclear's D-FMI platform with the settlement on the central bank's DL3S. According to French law, DNNs are issued in bearer form.Additionally, the French pilot CBDC solution has been used for several other digital bond issuances. These include a €30 million sovereign bond issued by Slovenia and small commercial papers issued by Dutch banks, along with several other projects involving simulated DL3S experiments.

ChainCatcher news, according to CoinDesk, Layer 1 blockchain Flare and decentralized cloud infrastructure company Red Date Technology announced the launch of two pilot projects in Hong Kong, allowing mainland residents to purchase stablecoins issued by virtual asset company IDA.The first pilot will allow users to register anonymously on a regulated stablecoin application, while the second pilot will facilitate the use of stablecoins to purchase tokenized financial products. Both pilots will utilize the mainland's real-name decentralized identity identification system (RealDID) for anonymous registration.It is reported that RealDID is a blockchain-based identity system launched in December 2023 by the Blockchain Service Network (BSN) and the First Research Institute of the Ministry of Public Security.

ChainCatcher news, according to Decrypt, Japan's SBI Digital Markets has strengthened its role in the Monetary Authority of Singapore's (MAS) "Project Guardian," launching a new pilot project aimed at promoting the application of tokenized securities in global markets.The Japanese SBI Group subsidiary is collaborating with financial institutions to develop a cross-border framework for tokenized assets, connecting regulated digital asset exchanges across multiple regions to enhance liquidity and reduce costs. The company announced on Monday that through its fixed income pilot project, SBIDM is creating an international network for securities backed by tokenized assets, covering initial issuance and secondary trading.

ChainCatcher news, according to Jinshi reports, based on the Shanghai financial official WeChat account, to implement the overall requirements of the 20th National Congress of the Communist Party of China regarding "steadily advancing the research and application of digital renminbi," and according to the People's Bank of China's deployment of the digital renminbi pilot work, the Shanghai Municipal Government has formulated a new round of action plan for the pilot application of digital renminbi and held a work deployment meeting on November 4.The action plan clarifies that it aims to further steadily promote the innovation of digital renminbi applications and services, striving to basically form a digital renminbi ecosystem by the end of 2025 that has a wide coverage of scenarios, good payment service experience, rich innovative applications, and active participation from all parties.

ChainCatcher news, the Monetary Authority of Singapore (MAS) has announced the establishment of the Global Finance & Technology Network (GFTN) to promote the development of Singapore's fintech ecosystem and drive greater synergy and networking with the global fintech community.The first phase of measures includes developing a regulatory sandbox framework, establishing cross-border payment connections, piloting digital assets and tokenization, and facilitating the adoption of artificial intelligence (AI). GFTN will collaborate with MAS to advance industry and policy dialogue in the areas of payments, asset tokenization, and AI/quantum.

ChainCatcher news, Zhou Lele, Deputy COO of Victory Securities, published an analysis stating that the virtual asset market continues to show slight fluctuations following last week's trend. Major assets like Bitcoin and Ethereum are experiencing swings and entanglements, but high-odds Altcoins are recovering and moving out of the downtrend channel.Last week, approximately $3.08 billion flowed into Bitcoin ETFs, while Ethereum ETFs saw inflows of about $5 million; the weak balance in the market has been broken, with short-term holders gradually increasing their positions, potentially signaling the start of a recovery phase. The shadow stock of virtual assets, MicroStrategy, reached a new high, and the trading volume of its double long ETF is also gradually expanding.Investment in MEME coins is heating up in the market, with an increase in risk appetite. However, compared to the assets themselves, there is a stronger willingness to trade high-odds derivative products. Virtual assets may need to wait for the wealth effect from the global stock market to spill over, increasing market share.

ChainCatcher news, Brazil is preparing to deepen its activities around its central bank digital currency (CBDC) pilot project drex. The Central Bank of Brazil announced that the pilot project will be open to more participants, aiming to expand the testing of more complex use cases within the platform. The new alliance will be able to submit its proposals for review by the project execution management committee from October 14 to November 29.

ChainCatcher news, according to Cointelegraph, Brazil is integrating decentralized finance (DeFi) into its ongoing experiments to develop a "synthetic" central bank digital currency (CBDC) called Drex, which was previously known as the digital Brazilian real.On October 3, Brazilian Central Bank President Roberto Campos Neto emphasized the country's need for a multidimensional CBDC, which aims to address the "trilemma" of decentralization, privacy, and programmability—challenges that traditional markets face when trying to solve these issues simultaneously.

ChainCatcher news, according to CoinDesk, RWA tokenization company Digital Asset announced on Tuesday that it has completed a pilot program to tokenize UK bonds (gilts), European bonds, and gold for financial transactions using the Canton Network protocol. Major securities settlement provider Euroclear, the World Gold Council, and global law firm Clifford Chance also participated in this process along with other banks, investors, custodians, and a central securities depository.During the pilot project from June to July, the project created digital representations of UK government bonds, European bonds, and gold to be used as collateral, offering greater transparency, faster transfer speeds, and near-instant settlement between parties around the clock, without the delays associated with traditional financial rails. According to a report by Boston Consulting Group and 21Shares, in an optimistic scenario, the market value of tokenized assets is expected to exceed $10 trillion by the end of this decade, while McKinsey predicts it will reach $2 trillion in its base case by then.

ChainCatcher news, according to Blockworks, payment giant Visa stated on Wednesday that Spain's BBVA has been involved in the development of the new Visa Tokenization Asset Platform (VTAP) sandbox this year. The bank is testing the issuance, transfer, and exchange of bank tokens on the network blockchain, with plans to launch an initial pilot for selected customers on the Ethereum blockchain in 2025.

ChainCatcher news, according to Hong Kong media Xinbao, Standard Chartered Hong Kong, BlackRock, and Mastercard will join hands to participate in the second phase pilot program of the "Digital Hong Kong Dollar" launched by the Monetary Authority. The newly formed tripartite alliance will explore tokenized investment use cases in an end-to-end manner. This potential solution will allow investors to purchase tokenized assets and conduct transaction settlements directly through the digital Hong Kong dollar or tokenized deposits with relevant asset managers.Libeara, nurtured by SC Ventures under Standard Chartered Group, will collaborate with Standard Chartered Hong Kong and BlackRock to provide a platform, jointly promoting the potential issuance of tokenized assets through Mastercard's multi-token network.

ChainCatcher news, according to the Hong Kong Monetary Authority (HKMA) official website, the HKMA today launched the second phase of the "e-HKD" pilot scheme, further exploring new types of digital currencies that individuals and businesses can use, including "e-HKD" and tokenized deposits. The project name has been changed to "e-HKD+" to reflect a broader exploration of the digital currency ecosystem. 11 selected institutions will conduct innovative use case studies in three major areas: tokenized asset settlement, programmability, and offline payments. This phase of research will help the HKMA understand the design and operational issues that may arise in a digital currency ecosystem where public and private coexist.

ChainCatcher news, according to Jinshi reports, Shanghai officially launched the pilot program for "blockchain-based bulk commodity supply chain financing" this afternoon. The first four bulk commodity trading companies that settled on the platform, along with the Nonferrous Metals Trading Center and Shanghai Port Cloud Warehouse, signed a strategic cooperation agreement with Bank of Communications.The launch of the pilot program for "blockchain-based bulk commodity supply chain financing" in Shanghai aims to leverage financial technology innovation, utilize the government's guarantee fund, and promote the development of blockchain-based supply chain finance to better serve the real economy.