FINMA, the Swiss Financial Market Supervisory Authority, yesterday published guidelines explaining to organisers and investors how existing financial legislation would be applied to initial coin offerings. The document also details the criteria by which the regulator will judge each fundraising effort. The aim is to dispel uncertainty in the space and should allow investors and organisers alike to act with greater confidence.
A press release accompanying the document stated that FINMA felt the clarity the official guidelines would provide were “important given the dynamic market and the high level of demand”.
Amidst the guidance, the Swiss regulators state that each ICO will be judged independently. There will be no “catch-all” regulation. They admit that “financial market law and regulation are not applicable to all ICOs”. Therefore the Swiss agency will consider the manner in which the tokens issued will be used when deciding which existing legislation should govern a coin offering.
They define tokens in three ways: Payment tokens, utility tokens, and asset tokens.
Payment tokens have no other purpose other than to provide a means of payment. They do not interact with specific applications in any unique way. For the purposes of regulation, they must comply with existing anti-money laundering legislation. They will not be treated as securities.
Utility tokens are intended to provide access to an application or service. There will be no regulation of these tokens. However, it seems unlikely that many pure utility tokens will exist.
Asset tokens are more like securities. As such, they fall under securities legislation. They represent assets in a more traditional sense. If a token provides dividends, it’s an asset token. Likewise, if it represents shares in a particular company. Asset tokens will also fall under civil law requirements. In Switzerland, this is covered by the Swiss Code of Obligations.
FINMA clearly state that hybrid tokens can also exist. From the above guidelines, it appears that most of the existing tokens issued by ICO will fall under more than one of the classifications.
They go on to state that they acknowledge the revolutionary potential of the technology behind ICOs and cryptocurrencies and state that they are participating in the federal government’s Blockchain/ICO Working Group. Finally, they reiterate their warning to investors about the highly volatile nature of the space.
The regulation seems to have been well received in the cryptocurrency community. The price of most tokens and coins have been increasing since the document was released. Particularly notable is ICO platform NEO’s surge in the last 24 hours. The “Chinese Ethereum” quickly added over $1 billion to their market cap according to Coinmarketcap.
Elsewhere, other signs highlighted that the news is welcome. Serial cryptocurrency entrepreneur Erik Voorhees Tweeted that he thought they were “pretty reasonable”:
Big news: Swiss financial regulator issues guidelines for ICOs and securities classification… And they’re pretty reasonable. ‘Crypto nation’ Switzerland issues guidelines to support market https://t.co/CaeGlujQ5G via @financialtimes #bitcoin #ethereum #blockchain
— Erik Voorhees (@ErikVoorhees) February 16, 2018
Such positive regulation out of Switzerland is a big deal. Whilst no one expected a harsh clampdown from the “Crypto Nation“, the clarity that the guidelines will bring to the space should help nurture, rather than stifle, creativity and innovation.
Hamilton Lane’s $2.1 Billion Flagship Direct Equity Fund Now Available for Investment on Securitize
Individual investors can now access Hamilton Lane’s flagship direct equity fund, Equity Opportunities Fund V (“the Fund”) through a new Securitize feeder fund tokenized on Polygon. Leading private markets investment firm Hamilton Lane (NASDAQ: HLNE) recently closed the Fund on nearly $2.1 billion of investor commitments, and is making a portion of the vehicle accessible via a feeder fund on a secondary basis to individual investors. The new tokenized fund will significantly increase access to this historically high-performing asset class, with minimum investments reduced from an average of $5 million traditionally to $20,000.
Securitize is the leading platform for expanding access to some of the highest-performing, real-world, private markets asset classes, which have historically been inaccessible to most investors, including private equity, venture capital, fine art and mature start-ups, consistent with U.S. regulations.
Hamilton Lane is one of the world’s largest investors and allocators of capital to the private markets, having deployed more than $37 billion across the private markets in 2021*, and with nearly $824 billion in assets under management and supervision, composed of more than $107 billion in discretionary assets and approximately $717 billion in non-discretionary assets, as of September 30, 2022. Equity Opportunities Fund V provides investors with diversified exposure to unique and differentiated deals through an efficient fee structure. Including this Fund, Hamilton Lane’s direct equity platform has raised approximately $3.7 billion since the outset of the fundraise. Currently comprising 30 investments in mostly mission-critical businesses, as of September 2022 Equity Opportunities Fund V has already achieved a strong gross internal rate of return.
“The new Hamilton Lane tokenized fund is a major step in the continued democratization of the private markets by significantly expanding access to the historically high-performing private equity asset class, particularly through reduced investment minimums,” said Carlos Domingo, co-founder and CEO of Securitize. “Private equity has outperformed the S&P 500 by 70% over the past 20 years, but that performance has mostly been enjoyed by major institutions, sovereign wealth funds and university endowments. Individual investors can begin accessing these opportunities, too.”
The feeder fund will be accessible to qualified purchasers with at least $5 million in invested assets, of which there are approximately two million in the U.S. The fund is offered by Securitize’s registered investment advisor, Securitize Capital, through its broker-dealer and alternative trading system, Securitize Markets, which is also a member of FINRA and SIPC. Securitize and Hamilton Lane intend to launch two additional feeder funds in the months ahead.
Victor Jung, Head of Digital Assets at Hamilton Lane, commented: “Hamilton Lane is committed to investing in and adopting transformational solutions with an aim to deliver best-in-class services to investors looking to access the private markets. We’re excited to launch Equity Opportunities Fund V on the Securitize platform – our latest step towards helping more investors gain access to the historically strong returns and performance opportunities generated within the private markets, while increasing usability and transparency through the use of blockchain technology.”
Shares in the feeder fund will be tokenized on the Polygon blockchain, which is fully compatible with the Ethereum ecosystem, inheriting its robust security while also being orders of magnitude more efficient.
Highly regarded for its scalability, Polygon is rapidly becoming the blockchain of choice for major institutions with existing institutional partnerships ranging from BitGo, to Cumberland DRW and GSR, as well as multiple major brands from the retail, entertainment, tech, gaming, and payments space. The existing Polygon network is home to some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. The Polygon blockchain is carbon neutral with the goal of leading Web3 in becoming carbon negative.
“The tokenization of private funds is a massive leap forward for investors and fund managers – a broader pool of investors enticed by greater opportunity and disintermediation – but also for the greater understanding that practical applications of blockchain will make a marked difference in democratizing financial opportunity,” stated Colin Butler, Global Head of Institutional Capital at Polygon Labs. “Polygon makes these asset classes accessible, secure, and scalable, and frankly the Polygon network is being built to become the home of global financial markets.”
The new tokenized feeder fund is offered by Securitize’s registered investment advisor, Securitize Capital, through its broker-dealer and alternative trading system, Securitize Markets, which is also a member of FINRA and SIPC.
*The 2021 capital committed includes all primary commitments that closed during the year 2021 for which Hamilton Lane retains a level of discretion as well as nondiscretionary advisory client commitments for which Hamilton Lane performed due diligence and made an investment recommendation. Direct Investments includes all discretionary and nondiscretionary advisory direct equity and direct credit investments that closed during 2021. Secondaries includes all discretionary and nondiscretionary advisory secondary investments with a signing date during 2021.
All Private Equity – Hamilton Lane’s definition of “All Private Equity” includes all buyout, venture capital, and growth equity funds.
Buyout – Any Private Markets fund that generally takes control position by buying a company.
MSCI USA Small Cap Value Index – The MSCI USA Small Cap Index is designed to measure the performance of the small cap segment of the U.S. equity market.
MSCI World Index – The MSCI World Index tracks large and mid-cap equity performance in developed market countries. Russell 3000 Index.
S&P 500 Index – The S&P 500 Index tracks 500 largest companies based on market capitalization of companies listed on NYSE or NASDAQ.
Securitize is expanding investor access to high quality, real-world private market assets, leveraging tokenization to make previously inaccessible investments available to more investors, consistent with securities laws. From private equity and venture capital to fine art and start-ups, Securitize brings together businesses seeking to raise capital and investors seeking potential returns historically found in the private markets, with over 1.2 million investors and 3,000 businesses already connected. Securitize, or through its subsidiaries, is an SEC-registered stock transfer agent, broker-dealer, alternative trading system, and registered investment advisor, as well as a member of FINRA and SIPC. Learn more at http://www.securitize.io.
About Hamilton Lane
Hamilton Lane is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs more than 575 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has nearly $824 billion in assets under management and supervision, composed of more than $107 billion in discretionary assets and approximately $717 billion in non-discretionary assets, as of September 30, 2022. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/.
About Polygon Labs
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding unique addresses exceeding 211 million, over 1.12 million smart contracts created and 2.36 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
21Shares Unveils World’s First Crypto Staking Index ETP
21Shares AG (“21Shares”), the world’s largest issuer of cryptocurrency exchange traded products (ETPs) and a subsidiary of 21.co, today unveiled the 21Shares Staking Basket Index ETP (Ticker: STAKE) – the world’s first crypto staking index ETP offering diversified staking income. The index represents the first-ever basket product of crypto assets that provide exposure to staking rewards while tracking the performance of underlying staked cryptos through a single ETP. The 21Shares staking index methodology used for this product was built in collaboration with Swedish index provider Vinter.
The 21Shares Staking Basket Index ETP tracks proof-of-stake (PoS) cryptocurrencies, including Binance Coin, Cardano, Cosmos, Polkadot, Solana, and Tezos. The index will rebalance on a semi-annual basis in March and September to reflect market shifts.
“Staking is a long-standing feature of the blockchain ecosystem that allows crypto holders to earn rewards in exchange for locking up their assets,” said Arthur Krause, Director of ETP Product at 21.co, parent company of 21Shares. “Our research has shown that investors are interested in diversified, crypto-native return streams – especially amid crypto winter. In particular, we’ve heard demand for a reliable and safe way to access staking, one of the most attractive potential return streams available in the crypto ecosystem. The 21Shares Staking Basket Index ETP does just that, and will be an attractive addition to many portfolios.”
The 21Shares Staking Basket Index ETP is available today for trading on the BX Swiss exchange, and is seeking to list on Xetra Deutsche Boerse. This launch follows the success of 21Shares’ existing single asset staking products – 21Shares Solana Staking ETP and 21Shares Tezos Staking ETP.
Jacob Lindberg, CEO of Vinter, adds “We are pleased to be launching the world’s first crypto staking index ETP with 21Shares, which is another milestone in our great partnership. This product addresses demands from retail and institutional investors globally, and we look forward to continuing our work with 21Shares as they seek to launch more innovative investment products that build bridges into the crypto world.”
Today’s announcement is the latest in a string of innovative ETPs offerings from 21Shares over the last year, including the world’s cheapest Bitcoin ETP (CBTC), as well as two risk-controlled products, the 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC) and 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH). 21.co now lists 40 products across 12 exchanges in 8 countries.
To learn more about the 21Shares Staking Basket Index ETP, please visit https://21shares.com/product/STAKE.
21.co is the world’s leader in providing access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21.co is registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit 21.co.
Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds
Vaduz, Liechtenstein. January 13 2023. Decentralized Finance Innovator Mimo is launching “KUMA Protocol”: the first DeFi protocol issuing tokens backed by regulated NFTs, themselves backed by sovereign bonds. This launch comes as the FMA (Financial Market Authority Liechtenstein) has approved Mimo for providing blockchain-related services since January 2022.
KUMA tokens, built as a smart contract compatible with most blockchains, are designed to provide holders with a reliable source of passive income through the accrual of interest on their holdings.
KUMA Tokens are NFTs representing bonds that KUMA Generator (a decentralized product owned by KUMA DAO and governed by the MIMO tokenholders) can accept as a backing to issue KUMA Interest-Bearing Tokens, a form of synthetic stablecoins that automatically accrue interest. The balance of these tokens grows in users’ wallets without any action required, matching the interest rate paid by the bond backing them, minus commission. Apart from the interest, the tokens behave like regular stablecoins, allowing them to be integrated freely into the broader crypto ecosystem, like DeFi, GameFi, and NFTs platforms.
The launch of this protocol also has the potential to revolutionize the way bondholders receive interest. Traditional bonds typically pay out interest semi-annually, annually, or even when reaching maturation. However, because KUMA Interest-Bearing Tokens use smart contracts, interest can be paid out to holders regularly, every 4 hours by default, providing a more consistent income stream for investors while not involving any claim process.
In the background, Mimo Capital AG handles the bonds and offers simple redemption to the users. Moreover, a smart contract managed by the KUMA DAO provides infrastructure for its community to swap or roll the NFT bonds over, ensuring smooth operation when a bond reaches its maturity date or the issuing authority publishes an updated rate.
To date, a few other efforts of bond tokenization have started. However, Mimo has the advantage of being the first regulated in the European Economic Area (EEA), providing tokens allowing its users to earn interest while benefiting from the safety of their favorite custody solution and the peace of mind coming with a fully regulated product.
Furthermore, KUMA DAO’s approach naturally provides fractionalized access to the benefits of bonds, lowering the entry barrier to investment and opening the door to 24/7 settlement, trading, and global liquidity. Example applications include savings accounts, protocol treasuries, and individual wallets.
Following the tokenization of sovereign bonds, Mimo will leverage KUMA to provide other assets, such as corporate debt and funds.
So far, all of the Mimo partners, including Polygon, Fantom, Swissborg, SingularityDAO and Akt.io have indicated their intention to use KUMA.
“We are thrilled to offer our users a new way to earn passive income through tokenized bonds,” said Claude Eguienta, Founder and CEO of Mimo Capital. “With this innovative mechanism and backed by a diverse range of real-world assets, we believe that interest-bearing tokens are poised to become a leading tool in the Decentralized Finance space.”
Mimo is a leading blockchain company that built a multichain DeFi protocol providing a Decentralized & Multichain Euro Stablecoin and developing Blockchain Powered Financial Products. With a focus on user-friendliness and accessibility, Mimo is committed to bringing the benefits of decentralized finance to a broader audience, including business and retail investors.
NEARStarter, incubator of Near and Aurora, will hold NSTART IDO on Jan. 9
NEARStarter, a decentralized autonomous organization (DAO)-governed incubator on Near and Aurora, will launch its governance and utility token, NSTART, on its own platform. The initial decentralized exchange offering (IDO) will be held from Monday, Jan. 9 to Thursday, Jan. 12, 2023.
NEARStarter is a DAO-governed incubator for projects launching on Near and Aurora. Their primary goal in delivering incubation services is to guarantee that outstanding Web3 projects receive the financial, marketing and business development support they need for product and process success.
The NEARStarter acceleration program is already recognized as one of the leaders in the Near ecosystem and has established partnerships with crucial projects, including Paras, Roketo, StaderLabs, Fluxus, OctoGamex, Ref.finance, Trisolaris, Near and Aurora Foundation among others. It has received more than 60 applications in the last month and shortlisted five to 10 different projects for incubation, acceleration and launch.
What is NSTART Token?
The NSTART Token provides you with access to the whole NEARStarter ecosystem as well as built-in incentives. From the moment you stake your NSTART, you get:
Access to IDOs taking place on the launchpad.
The bigger your NSTART stake, the bigger allocation you can invest in incubated and launching projects.
You can be part of NEARStarter’s governance by voting on and discussing key points from projects and proposals.
Participation in the NEARIA index pool.
Staking NSTART is the only way to farm NEARIA, which will give you fractional ownership of a diversified portfolio composed of a percentage of all successfully launched tokens on the NEARStarter Launchpad, plus some core partners.
In other words, NSTART holders are guaranteed an allocation in any high-quality project that obtains funding through the NEARStarter platform using this method.
How will the IDO work?
The IDO will be held on a first-come, first-served basis, with no need for a whitelist or Know Your Customer.
Investors must hold Ether on Aurora to participate in the IDO (ETH can be bridged to Aurora from Ethereum or Near via the Rainbow Bridge).
NSTART will cost $0.20 each, with 150,000 tokens for sale.
Other activities going on from NEARStarter
Since the market is expanding at an unprecedented speed, NEARStarter, as an incubator, must constantly seek ways to enhance the services it offers. The platform roadmap includes continuing to expand the utility of the “Vicious Fishes” nonfungible token (NFT) collection (on sale at https://paras.id/collection/near_starter.near) and supporting incubated projects through additional high-quality partnerships. The count with more than 15 different guilds of the Near and Aurora Ecosystem to bootstrap their operations and govern the platform.
Ramiro Gamen, head of accelerator at NEARStarter, shared: “At NearStarter, we see tremendous potential in Near and Aurora ecosystems. We have received more than 60 applications in the last six months, and it has been really tough to shortlist only 5 to 10 of them.
We have incubated and accelerated projects like lending and borrowing protocols, blockchain infrastructure providers, Web3 career hubs, or DeFi and NFT aggregators, as well as projects fighting liquidity fragmentation and user pain points resulting from the cross-chain nature of crypto in this early stage of life.
We are, therefore, very bullish for what’s to come in 2023 for us and our incubated projects.”
For the first cohort, the crypto startups have been selected based on solutions geared toward adding value to Near across four axes:
- Economical: incubate promising projects with thorough due diligence.
- Social: support Guilds as the community engine.
- Educational: help in the spread of educational content about the Near ecosystem.
- Environmental: promoting Near Regenerative Finance efforts to enhance forest value.
They come from various Near sectors, including decentralized finance (DeFi), gaming, education and NFTs. Let’s go through them one by one.
- Meteor Wallet — Meteor is a fun, simple and secure wallet, allowing users to collect NFTs, access DeFi and explore everything Web3 offers on Near Protocol in a gamified and didactic way.
- Seed Web3 — SEED is a collaborative and output-focused learning platform. It aims to create a new educational structure that benefits everyone who uses it, including developers, lecturers and companies.
- House of Eros — House of Eros is an NFT marketplace where you can collect, trade and create digital collectibles on the Near Protocol.
- DOJO Finance — Dojo developed a Near wallet that offers a secure and convenient solution to store, purchase, send, receive, and swap tokens and NFTs on the Near and Solana blockchains. Also, they provide around-the-clock customer service, while you keep your data 100% private.
- Nearlend DAO — NearlendDAO is an open-Source capital market on Near Protocol, which is building a borrowing and lending 2.0 protocol.
- EvieNFT — Evie is a Near hub and NFT marketplace aggregator. The platform offers NFT marketplace aggregation, data and education-driven games, sweep and bulk sell, and many more experiences.
NEARStarter is a DAO-governed incubator acting as the ultimate growth engine for the Near and Aurora ecosystems.
Vacuum Coin announces its expansion into the BNB Smart Chain
Vacuum Coin (VC) announced its plans to expand its ecosystem to the BNB Smart Chain by releasing the BEP-20 version of its token.
Vacuum Coin is a reserve currency for an upcoming metaverse project called, “Metaverse Union,” which aims to connect all metaverses through its metaverse. The BEP-20 version of VC will be used as the utility token for its crypto services, such as chat-to-earn, play-to-earn, second-generation Crazy Rich Rabbit nonfungible tokens (NFTs), Vacuum Bot and Tina Launchpad.
Currently, the Vacuum project hosts weekly chat-to-earn events in its social media community, where more than 13,000 people participate to earn VC tokens by chatting. It can be obtained through the play of Crazy Rich Rabbit, a Web3 play-to-earn game in which the players can earn VC tokens just by playing the game.
Its most recent reveal, Project Henri, is an NFT avatar generation project required to enter the Metaverse Union. You have a taste of creating any avatar you like using the photos you have.
Vacuum is running its fairlaunch until 2 pm UTC on Jan. 2, 2023. The token will be listed right after the fair launch is over. Currently, it has filled up its softcap.
For more information, visit Vacuum Coin’s website or visit directly to Vacuum’s Pinksale Fairlaunch site at:
Valour Crypto products now available at independent research provider MoneyMoon
Valour Inc., a technology company and the first and only publicly traded company that bridges the gap between traditional capital markets, Web3 and decentralized finance, announced today that the independent comparison platform MoneyMoon listed Valour’s product since last week. MoneyMoon is one of the major European exchange traded product comparison platforms with over 75.000 active monthly users.
“We continuously search and compare the best European ETP’s available in the market,” said Imre Kiss, CEO of MoneyMoon. “The Swiss-based issuer Valour really stood out on every time frame providing best in class tracking performance combined with lowest fees to end customers. Given their outstanding product offering, we had to immediately integrate them in our app.” Marco Infuso, CSO of Valour adds: “Getting our products included on the leading independent platform MoneyMoon makes us really proud. Our inhouse trading and product structuring are responsible for very low tracking differences and hence for top performance. Seeing our products added on such a credible platform proves to us that we’re on the right path and are able to perform in this highly competitive market for both: Our institutional- as well as for our retail clients.”
Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Enjin (ENJ), Valour Bitcoin Carbon Neutral, and Valour Digital Asset Basket 10 (VDAB10) ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum(ETH) as underlyings which are completely fee-free.
Valour Inc. is a technology company bridging the gap between traditional capital markets and decentralized finance. Our mission is to expand investor access to industry-leading decentralized technologies which we believe lie at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures in order to provide trusted, diversified exposure across the decentralized finance ecosystem. For more information or to subscribe to receive company updates and financial information, visit https://valour.com
MoneyMoon is an independent european ETF/ETP platform. They preselect the most favourable exchange traded products for end users. The app can be downloaded in the App Store or Google Play Store. For more information, please visit www.moneymoon.eu
Worldwide Crypto Based Exchange Traded Products AUM Dropped 17% in November
Fineqia International Inc.’s (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) analysis of Exchange Traded Products (ETPs) worldwide that have cryptocurrencies as underlying assets, revealed a 17% decrease in the Assets Under Management (AUM) value during the month of Nov., closely mirroring the 15% drop in the cryptocurrency market value during the same period.
The total AUM decreased to $21 billion from $25.3 billion between Nov. 1 and Dec. 1 across 163 listed ETPs, according to Fineqia Research. Two ETPs that had FTX’s token (FTT) as their underlying assets have ceased trading, while six new ETPs were added, increasing the total number of ETPs listed from 159 to 163 so far in 2022. The new ETPs listed did not affect the total metrics, that have a combined AUM of approx. $5 million.
The ETPs include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs). The overall value of cryptocurrencies decreased 15% to about $850 million in Nov., more than 60% lower than $2.2 trillion in Jan.
On a year-to-date (YTD) basis, the AUM of crypto ETPs decreased 64%, similar to a 61% drop in the broader crypto market. Despite a 50% increase in the number of ETPs to 163 in Nov. compared with 109 in Jan., their overall AUM was $21 billion compared to $58.5 billion in Jan. The price of Bitcoin dropped by 65%, while Ethereum decreased by 67% during the Jan.-Nov. 2022 period.
“The price of cryptocurrencies dropped as a result of the FTX bankruptcy in early Nov.,” said Fineqia CEO Bundeep Singh Rangar. “We’re still facing contagious effects of the FTX failure that has consequentially weakened the financial position of other companies and made some of them insolvent.”
A number of crypto-related entities revealed some amount of exposure to collapsed cryptocurrency exchange FTX. These firms include Binance, BlockFi, Coinbase, Coinshares, Galaxy Digital, Genesis Global Trading, and Voyager Digital, among others.
ETH prices have plummeted due to selling by people who are believed to have hacked FTX. They are estimated to have sold more than 50,000 ETH and still retain more than 200,000 ETH. More selling by them could further negate the price of ETH.
The AUM of Ethereum (ETH) denominated ETPs decreased by 18%, while the cryptocurrency’s price dropped by 23% to about $1,200 from almost $1,600. Their AUM fell to $5.3 billion from $6.5 billion. ETH has been one of the most volatile crypto assets, part of both an uptrend and downtrend over the past few months.
ETPs holding Bitcoin (BTC) dropped almost 17% to $14 billion from $16.8 billion in the month of Nov. That has outperformed BTC, which suffered a 20% decrease to about $16,500 on Nov. 1 compared to $20,600 a month earlier. ETPs representing alternative coins decreased by 15% and those with a basket of cryptocurrencies dropped by 17%.
All references are in US dollars and all cryptocurrency prices are sourced from CoinMarketCap.
All ETFs and ETPs AUM were compiled from publicly available sources, such as 21Shares AG, Grayscale Investment LLC, VanEck Associates Corp., MorningStars, Inc., and TrackInSight SAS by Fineqia’s in-house research department.
About Fineqia International Inc.
Fineqia (www.fineqia.com) is a listed entity in Canada (CSE: FNQ), US (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia’s strategic focus has been to provide a platform and associated services to support securities issuances and manage administration of debt securities. Fineqia is building out its alternative finance business and holds a growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide.
Utherverse Partners with Leading Blockchain Platform Tokensoft to Launch International IDO for Much Anticipated Metaverse Native Token
Uther Coin (UTHX) now available on Tokensoft
NEW YORK, Nov. 30, 2022 – Utherverse, one of the largest metaverse platforms in the world, has signed a partnership agreement with Tokensoft, Inc., the leading technology platform for launching digital assets on the blockchain, to offer the first and second pre-sale rounds of the Uther Coin (UTHX) as part of the token’s initial decentralized offering (IDO).
Uther Coin will be the primary token used for transactions throughout the next generation Utherverse Software Platform. Utherverse powers the most popular and advanced metaverses ever built, and as such, Uther Coin will be needed by everyone accessing what will be the preeminent Metaverse as of next year.
As part of the agreement, a pre-sale of Uther Coins will be made available to buyers outside the United States and Canada beginning December 1. Interested persons should go to https://www.utherverse.io/UTHX to get approved and listed for the sale.
“Tokensoft has proven itself a credible resource for IDOs that delivers on its promises and the recent launch of its Web3-enabled platform makes it one of the strongest performers out there,” said Brian Shuster, founder and CEO of Utherverse. “We are anticipating a tremendous response to Uther Coin from our international community. Utherverse is going to significantly change the metaverse landscape once again, and our coin will likely be a top performer among all IDOs on the platform as we approach the launch of the next generation of the Utherverse metaverse.”
Founded in 2017, Tokensoft is a technology platform for creating and managing digital assets, based in Austin, Texas. The Tokensoft platform helps customers to comply with applicable regulations internationally to access a global userbase. To date, Tokensoft has helped create over $18 Billion in market capitalization with projects such as Avalanche, The Graph and Moonbeam.
Utherverse is a metaverse platform that enables developers to build interconnected virtual worlds, provides hyper-realistic immersive experiences for consumers and opportunities for companies to market and monetize their products and services. Utherverse generates revenue from custom metaverse building services, sales of NFTs and a variety of business verticals including advertising/marketing, shopping/retail, conferences/conventions, education, dating, lifestyle, entertainment events/performances, VIP experiences and virtual offices. The Utherverse platform was launched in 2005 by internet visionary Brian Shuster. A beta version of the next generation Utherverse platform is expected to launch in early 2023. The platform has served 50 million+ users with 32 billion+ virtual commerce transactions. Utherverse has developed the technology and received more than 40 patents critical toward operating large-scale metaverses. The company is based in British Columbia, Canada. More information can be found online at Utherverse.io; Twitter/Instagram: @Utherverse; Facebook: /UtherverseDigital; LinkedIn: /utherverse-digital-inc/; Telegram: /UtherverseAnnouncements; Discord: /Utherverse.io.
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Note: Digital assets to accompany this story are available at http://utherverse.pressrep.net.
The Honig Company, LLC
Stablecorp Announces the Beta Launch of Yield as a Service Digital – Fully Transparent, Data-Driven, Yield Generation Technology
Stablecorp, a Canadian blockchain technology company, today announced the beta launch of Yield as a Service Digital, or YaaS, a suite of multi-currency yield generation and analytics technologies. YaaS offers unparalleled transparency and analysis into a wide variety of both traditional and digital yield generation sources while providing superior visibility into asset location and holding details; underwriting and risk analysis practices on various yield-generating platforms; and additional risk mitigation and optimization mechanisms for each.
The YaaS technology is intended to generate exceptional risk-adjusted yield within the full universe of yield verticals and to improve access to these yields via digital assets such as stablecoins. The YaaS technology does this in five key ways:
- Taking a “composable ecosystem” approach by opportunistically selecting the top traditional, centralized, decentralized, and combined finance yield generation tools
- Using a blend of traditional and digital asset-based empirical data to select, back test and assess credit and exploit risks as well as mitigants across these platforms
- Increasing stablecoin-based access to high-quality corporate and government yields
- Maintaining real-time transparency of positions and real-time risk mitigation strategies, including on-chain monitoring, collateralization, insurance and senior tranche structures
- Taking advantage of additional yield optimizing tools and platforms to increase efficiency and effectiveness of yield generation
“With the significant disruptions inherent in the digital asset markets over the past six months and the meaningful rise in traditional interest rates, it is beyond time for a comprehensive yield analytics framework in the space. With YaaS, Stablecorp’s fundamental goal is to find the best and brightest yield opportunities across the full spectrum, assess them using a blend of traditional and novel frameworks, and access them using US dollar and Canadian dollar-denominated digital assets,” said Alex McDougall, CEO of YaaS parent company Stablecorp. “This doesn’t just mean the arbitrage and trading type of yield that we’ve seen to date in the digital asset space, but also more efficient forms of access to traditional corporate and government credit.”
Maple Finance, Idle Finance, Unslashed, Morpho Labs, Cinch and Component Finance are some of the initial platforms used in the YaaS technology suite.
“Maple’s on-chain lending platform provides industry leading credit professionals with the tools to run institutional lending businesses. The combination of blockchain technology with the highest underwriting standards provides capital allocators with fully transparent, non-custodial, risk-adjusted yield options. We are excited to partner with YaaS and connect their technology to an expanding range of opportunities on Maple,” said Sidney Powell, CEO of Maple Finance.
“Morpho enhances yields of lenders on DeFi platforms strictly by optimizing the underlying technology while preserving the same risk parameters and the same liquidity. We’re thrilled to work with composable platforms like YaaS to deliver better risk adjusted DeFi value propositions to their technology,” said Paul Frambot, CEO of Morpho Labs.
“At Idle, we are on a mission to step up DeFi by reimagining how we manage risk and yields. Our Senior Perpetual Yield Tranches (PYTs) offer intrinsic capital protection, as they are covered by Junior PYTs from a wide spectrum of risks. DeFi is stuck in subpar risk management and with PYTs, YaaS can seamlessly turn on and off tranching solutions and manage risks in real-time on a broad variety of underlying platforms. We are extremely excited for this partnership,” said Matteo Pandolfi, CEO at Idle Labs.
“Decentralized insurance protocols are critical to mitigating tail-risk in the space and the Unslashed protocol has generated a significant track record of paying out claims through the recent turmoil. We’re excited to work with YaaS to continue to bring these real-time, structured mitigants to their technology solutions,” said a co-founder of Unslashed.
Beta Launch Details
- YaaS is currently in a closed beta environment, and is conducting pilot tests with several select business partners
- Full-release version of the YaaS technology is anticipated for Q1 2023
- If interested in a demo or participating in the beta, please visit https://yaasdigital.com
Stablecorp is a leading Canadian fintech firm building bank-grade blockchain technology. Through its three product lines – Forge, Grapes and YaaS – Stablecorp blends bleeding edge technology with innovative approaches to solving customer needs to create “step function” improvements in financial services. Stablecorp focuses on consumer and personal treasury management, including cross-border payments, FX and leading analytics on digital asset borrowing and lending solutions, all leveraging blockchain technology.
For more information, visit https://www.stablecorp.ca and https://www.yaasdigital.com
indu4.0 powered by INDU – A native token to cover crucial needs of the manufacturing industry
The world of technology is filled with buzzwords these days. From AR to VR, AI to blockchain, it can be difficult to know when these technologies are worth leveraging. Several manufacturing businesses find blockchain particularly appealing because of its ability to be applied to various business processes, coupled with its inherent security and reliability. indu4.0 is one of many projects emerging in the industrial sector! indu4.0 is a blockchain-based project, seeking to revamp manufacturing with its native token, INDU.
Indu4.0 AG is a Swiss-based company that developed its platform indu4.0. indu4.0 project is a digital B2B marketplace targeted at the manufacturing industry that seeks to link supply and demand more efficiently and economically. This project aims to pioneer a digital B2B marketplace for the trillion-dollar manufacturing industry. It has already integrated numerous complex industrial products and services into the user-friendly platform with sophisticated filter systems. This article comprehensively overviews this cutting-edge platform and its native token for the manufacturing industry. Read on to learn more about its features, tokens, and benefits!
What is an INDU token?
The INDU token serves as the payment token for the Indu4.0 AG services. Thus users will be able to pay with INDU tokens for everything the company offers, including virtual trade shows, events, advertisements, and exclusive industry reports. With the INDU token, manufacturing will finally have its own currency, with a value more easily tradable. The INDU token will have 750,000,000 pieces, of which 37% are sold at the ICO at a very low price.
Use Cases of the INDU Token
- With INDU tokens, users can access advertising services and industry reports.
- INDU tokens can be used exclusively to purchase exhibition stands at events organised by Indu4.0 AG. Additionally, INDU tokens can be used to pay for events and trade fairs in the metaverse.
- The platform makes it possible to securely exchange sensitive and proprietary data, thanks to NFT technology. The INDU token will be used to verify each file’s owner.
The public presale of INDU tokens is currently underway. Sign up for the Presale here. You can take part in the sale to own INDU tokens. It is expected that the funds collected from the presale will be used to expand the team of developers. The money will also be used to cover marketing expenses and pay for infrastructure and office costs.
What are the benefits of the INDU token?
Potential Price Increases
indu4.0 is a new initiative to transform the manufacturing industry – the biggest sector in the world. This digital revolution will depend on the INDU token, which aims to become a native token for manufacturing. Right now, you can buy INDU tokens for a very low price, which is a worthwhile investment. As time passes, more INDU tokens will come into circulation, increasing token value. Now’s the time to join the journey to revolutionize the industrial sector!
Reward Program for Recommendations
indu4.0 has a loyalty program that rewards long-term users with INDU tokens. The indu4.0 platform rewards active users who subscribe and keep their profiles up-to-date. Customers can choose from three loyalty levels – Beginners, Pros, and Elites – based on their usage of the indu4.0 platform and the revenue generated. Each loyalty level offers a different reward.
Access to the Metaverse
Metaverse refers to a highly interactive virtual world. Metaverse users can trade digital assets like documents, files, and other digital assets, just like in the real world. A virtual space is available on indu4.0 for platform users where they can upload, watch and place ads using their INDU token. Users of INDU tokens will have priority access to the manufacturing metaverse, where they can buy and own property.
Being a part of the next Industrial Revolution
Blockchain solutions can alleviate common manufacturing pain points, such as onboarding suppliers and distributing products. Indu 4.0 AG developed the indu4.0 platform to unlock the potential of the manufacturing sector by integrating blockchain technology. Currently, the company offers many features to its users, and the INDU token also offers many benefits. This project has high ambitions, and its roadmap reflects those ambitions. There will be a lot of development in the future. Potential community members should participate in the next Industrial Revolution by being part of indu4.0 by acquiring INDU token!
What are the benefits of indu4.0 for manufacturers?
Sophisticated Filter System
indu4.0 manufactures a range of highly automated, fully enclosed, sophisticated filter systems for the manufacturing sector. With its sophisticated filter system, users can quickly find what they are looking for. Thus, users can be confident that they will receive inquiries suitable for their specific offers.
In the recent pandemic, the metaverse concept gained traction as people avoided in-person interaction, businesses adopted remote working policies, and digital communication methods became more prevalent. The blockchain-based, shared virtual space in indu4.0 allows users to explore and interact with a virtual world. The indu4.0 metaverse space lets you advertise on the platform or find trade shows you can pay for using INDU tokens. Furthermore, virtual exhibitions help to reduce the overall emissions of companies and thus contribute to their carbon footprint.
indu4.0 presents new security standard – IDS
indu4.0 presents IDS (indu Data Security), their future security standard for all industry data. This shows that data security is the primary focus in the indu4.0 platform. This IDS is responsible for the data security of all kinds of data in the platform such as technical drawings, blueprints, and industry sensitive data.
Connecting buyers and suppliers
With indu4.0, suppliers and purchasers can connect more efficiently and effectively. Through the platform, buyers can send offer requests directly to suppliers with just a few clicks. The search function is fully functional, and they can use the platform without logging in. indu4.0 lets you search for suppliers easily and quickly. It’s easy for the purchaser to find suppliers for the services they need with standardised terms and filter steps. Meanwhile, suppliers can create company profiles and view all offer requests from purchasers which leads to new customer acquisition opportunities.
The indu4.0 reporting system has exclusive features designed to attract potential users. The platform’s reporting system gathers and organises data from databases into reports, manages them, and distributes them to users so they can make better business decisions. With INDU tokens, users can buy advertising and benefit from lower fees thanks to paying with INDU.
There is no way for the purchaser to search for a specific item. Nowadays, the options are all tedious and inefficient, so you have to do a lot of searches or check suppliers manually. To solve this problem, indu4.0 lets you search for suppliers easily and quickly. It’s easy for the purchaser to find suppliers for the services they need with standardised terms and filter steps.
In today’s digital age, it’s more important than ever to entice potential customers with your new platform. Today, it’s crucial to have content in a language that visitors can understand. As a result, the indu4.0 platform will be multilingual, supporting EN, DE, FR, and IT languages, so buyers and suppliers can choose the language they prefer.
Manufacturing is one of the world’s largest industries, worth trillions of dollars and employing millions of people. The industry, however, suffers from inefficiencies. The problems can be solved if manufacturers and suppliers are more easily connected. The idea of indu4.0 came from bringing manufacturers and suppliers together. This platform uses blockchain technology to improve communication and collaboration between both sides.
The roadmap for indu4.0 is ambitious, and the team is doing everything possible to make it a success. INDU tokens will fuel the indu4.0 platform, helping you reach new heights in the industrial sphere. The INDU token is supposed to become the industry currency and facilitate more realistic trading. Hence, it is a great opportunity for crypto enthusiasts to become part of the next Industrial Revolution. If you’re looking for a project that’ll transform the manufacturing industry for the better, indu4.0 is a groundbreaking option. Take advantage of this potential earning opportunity and be part of this biggest change!
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