ChainCatcher news, according to Ledger Insights, UBS and Deutsche Bank announced that as part of the European Central Bank's wholesale DLT settlement experiment, the two parties simulated tokenized deposit payments between banks.The Bundesbank's Trigger solution enables blockchain-based systems to connect to the Trigger Chain, allowing payments to be initiated in central bank money on the Target2 payment system. In terms of tokenized deposits, tokens are destroyed on the sending blockchain and minted at the receiving bank.A total of two experiments were conducted, one involving time-sensitive euro payments. The second simulated transactions in pounds and Swiss francs between Deutsche Bank's London branch and UBS Group in Switzerland, with these transactions settled in euros.

ChainCatcher news, according to The Block, digital asset service provider BitGo announced the establishment of a subsidiary in Singapore, aiming to expand its business in the Asia-Pacific region. BitGo Singapore will offer cold storage services for over 1,100 digital assets, while also supporting features such as voice trading, automated settlement, and token management, targeting institutional users such as foundations and protocols.Previous report, BitGo obtained a major payment institution license from the Monetary Authority of Singapore (MAS) in August this year, allowing it to legally conduct digital asset services in Singapore.

ChainCatcher news, according to The Block, Digital Currency Group (DCG) is launching a new subsidiary focused on artificial intelligence, Yuma, to support the development of the open-source Bittensor network. This move represents the fusion of the cryptocurrency and artificial intelligence sectors, providing capital and technical resources for startups and established companies to build projects on Bittensor.Bittensor is a decentralized protocol that supports blockchain-based machine learning networks. DCG first invested in Bittensor in 2021. The company has also invested in several decentralized AI companies, including Tensorplex, Natix, and Flock. DCG founder Barry Silbert will serve as the CEO of Yuma.

ChainCatcher news, according to Bloomberg, Rhomaios Ram, the CEO of blockchain company Fnality International Ltd., supported by major banks such as Goldman Sachs and UBS, is set to retire, and the company is evaluating candidates to succeed him.A company spokesperson confirmed that the 60-year-old Ram has expressed his intention to resign to the company's board but will continue to serve until a successor is appointed and the transition is smoothly completed.

ChainCatcher news, according to Jinshi reports, UBS Global Wealth Management stated that the recent strength of the dollar may not last after Trump's victory in the U.S. presidential election. Analysts in a report said that in the medium to long term, the dollar may weaken. "The policies proposed by Trump are expected to expand the twin deficits, undermining the long-term appeal of the dollar." They indicated that Trump may not be able to deliver on policies that boost the dollar, as he might seek lower yields and a weaker currency.Meanwhile, they noted that the market has gone too far in lowering expectations for Fed rate cuts, and the "overshooting" of U.S. Treasury yields may decline along with the dollar. UBS expects that by December 2025, the euro will rise against the dollar from the current 1.0573 to 1.12.

ChainCatcher news, Société Générale's subsidiary SG Forge will deploy its euro stablecoin EURCV on the XRP Ledger network. By deploying on XRPL, SG-FORGE aims to benefit from the network's cross-border payment and tokenization capabilities, promoting its fast settlement and low-cost transactions. EURCV will be issued using Ripple's custody service.RippleX Senior Vice President Markus Infanger stated, "Introducing trusted bank-grade stablecoins like EURCV to XRPL is crucial for enabling institutional use cases such as payments, which is a core focus for Ripple."EURCV was launched in 2023 on Ethereum and is a highly regulated product.

ChainCatcher news, according to Fortune, early blockchain venture capital firm Portal Ventures is nearing the final close of its second fund, which has a target size of $75 million. Its founder and general partner Evan Fisher stated that the fund has been oversubscribed, reaching $90 million.According to documents submitted to the U.S. Securities and Exchange Commission (SEC) in August, the initial fund target was $70 million, but Portal later decided to raise the cap by $5 million.Fisher and another general partner, Catrina Wang, stated that Portal's investment strategy differs from other funds, focusing on early-stage "pre-seed" investments and has garnered support from top-tier investors. Portal's first fund was fully deployed in May of this year, and Fisher expects distributions to begin next year.

ChainCatcher news, according to Cointelegraph, the cryptocurrency investment platform DeFi Technologies has created a new company called SolFi, aiming to become "the MicroStrategy of Solana."DeFi Technologies stated that its subsidiary SolFi is fully focused on "providing investors direct access to the Solana blockchain ecosystem through proprietary trading, validator node operations, and ecosystem investments." It added that SolFi will compete with existing SOL staking platforms, aiming to offer higher staking SOL yields.

ChainCatcher news, according to the "Maoming City" WeChat public account, Maoming City (a prefecture-level city in Guangdong Province) is continuously promoting the pilot work of digital RMB. Recently, I learned from the Maoming branch of the People's Bank of China that the party and government agencies and public institutions in Maoming City have fully implemented the distribution of subsidies in digital RMB.In July this year, the Maoming Municipal Finance Bureau and the Maoming branch of the People's Bank of China jointly issued the "Notice on the Pilot Work of Distributing Subsidies in Digital RMB." According to the requirements of the "Notice," the party and government agencies and public institutions in Maoming City began to fully implement the distribution of subsidies in digital RMB starting in September. By the end of October, a total of 359 budget units in the city had implemented the distribution of subsidies in digital RMB, with a cumulative total of 75,883 instances of subsidies distributed to administrative agencies and public institutions, amounting to 81.738 million yuan.At the same time, Maoming is also promoting the quality, expansion, and efficiency of the digital RMB pilot work, expanding multi-channel payment methods. In the next step, Maoming City will continue to promote the distribution of salaries in digital RMB for all budget units in the city. Additionally, it will actively promote the construction of a digital RMB application demonstration area in the eastern section of the Maonan River in Maoming City.

ChainCatcher news, according to Jin10, Meta stated that it will reduce the monthly subscription price for its services in the EU from €9.99 for desktop users to €5.99, and from €12.99 to €7.99 for iOS and Android users.

ChainCatcher news, according to Techinasia, Animoca Brands' Mocaverse has completed a $10 million funding round, bringing the total funding to $31.88 million. Investors include OKX Ventures, CMCC Global, and HongShan.The funds will primarily be used to develop consumer crypto infrastructure.According to RootData, Mocaverse is a metaverse product under Animoca Brands, where Mocas are a group of bold and infinitely creative beings who call Mocaverse home. However, the expansion of space has caused the Mocas to separate, increasing the distance between them tenfold. Additionally, the Mocaverse team is building Web3 native tools to enhance the capabilities of products in the gaming, culture, and entertainment verticals, allowing users to create their own digital identities, accumulate reputations, and earn and spend loyalty points.

ChainCatcher news, according to Cryptonews, Japanese cryptocurrency exchange Bitbank has announced the establishment of a wholly-owned subsidiary, Bitbank Ventures, focusing on investments in overseas blockchain companies. This subsidiary will concentrate on blockchain projects from seed rounds to Series A, while also providing support for international companies entering the Japanese market.Bitbank's business development director Jun Kuwahara stated that over the past three years, the company has invested in the Web3.0 startup accelerator Next Web Capital and the crypto project Oasys. Shifting to a corporate venture capital model will accelerate the investment decision-making process and enhance investment capabilities. The new subsidiary will focus on investments in Layer 1, Layer 2 infrastructure, as well as AI, gaming, and Web3 projects.

ChainCatcher live report, Autonomys Network research head Chen Feng, CKB ecosystem fund research head Hongzhou Chen, LSP Finance marketing director Jessie, and Mind Network Asia-Pacific head Leon Li jointly attended the DeInsight conference and participated in a roundtable discussion titled "Identify opportunities in the new cycle of Crypto," where they had an in-depth discussion on the development characteristics of Crypto in this cycle, the development trends of Crypto after the U.S. election, and more.Regarding the current state of Crypto, the guests generally agreed that it is crucial to clarify what practical problems Crypto aims to solve. Jessie believes that more and more projects realize that providing a better user experience is more important than emphasizing technology. Leon Li stated that an important point for project development is to demonstrate to community members and ecosystem projects that you have confidence in long-term competition rather than short-term games.For future trends worth noting in Crypto, the attendees emphasized several sub-directions, including payments, AI, privacy, and the Bitcoin ecosystem. Chen Feng mentioned that he focuses on the integration of privacy protection technology with various infrastructures, especially the innovations in privacy protection in AI application scenarios.As for the Crypto market after the U.S. election, Hongzhou Chen indicated that Bitcoin has just broken the $80,000 mark, but this upward momentum may be a short-term phenomenon, and it is still necessary to observe whether Trump will fulfill his promises after taking office, as well as whether related policies can promote industry development.Remote participation 👉Live video link: https://www.youtube.com/live/tTVcUPumPysLive image link: https://www.pailixiang.com/album_ia7637038926.html(Source Chain

ChainCatcher news, according to Ledger Insights, UBS has successfully piloted a blockchain-based payment system known as UBS Digital Cash, aimed at improving the efficiency of cross-border transactions.UBS stated in a press release that the pilot involved transactions with multinational clients and banks, including domestic transactions in Switzerland and cross-border payments in USD, CHF, EUR, and CNY. UBS plans to further expand and develop UBS Digital Cash.It is reported that the system uses a private blockchain network, accessible only to authorized clients.

ChainCatcher news, a new report from Binance Research warns of the high risks in the Meme coin market, showing that 97% of Meme coins fail or become inactive shortly after their launch.The report also reveals widespread manipulation, where organized groups meticulously plan to pump and dump coin prices, leaving everyday investors to bear most of the losses. Despite the promise of high returns from Meme coins, the report warns that these volatile assets are often fraught with traps.The report attributes the surge in popularity of Meme coins to economic pressures, particularly among the younger generation facing stagnant wages and rising living costs. However, the allure of high returns is misleading, as most Meme coins lack intrinsic value or technological innovation, relying instead on viral internet spread and speculative hype.Finally, the report notes that the explosive growth of Meme coins may distract attention from projects focused on advancing blockchain technology, potentially marginalizing projects with substantive technological goals. (CryptoSlate)

ChainCatcher news, according to the Straits Times, UBS announced the global launch of its first tokenized money market fund, starting from Singapore. This UBS Dollar Money Market Investment Fund Token (uMINT) is based on Ethereum distributed ledger technology (DLT). The fund offers investors a controlled-risk institutional-grade cash management solution, supporting high-quality money market instruments.Previously, UBS, as an industry partner in the Monetary Authority of Singapore's "Project Guardian," launched a live pilot for tokenized Variable Capital Company (VCC) funds in October 2023. In June 2023, UBS issued 200 million RMB (37.16 million SGD) in digital structured notes for third parties and completed the world's first cross-border repurchase transaction fully executed and settled on a public blockchain in November of the same year.

ChainCatcher news, Binance Web3 Wallet launches Zircuit bonus and gas fee subsidy event. Users who bridge and stake ETH using the Binance Web3 Wallet will receive a gas rebate of 10 USDC upon completing the tasks.