Blockchain DXB: 🔴 26th Nov 🔴 MicroStrategy buys 55,500 BTC ⚠️CFTC report on Tokenization 👁️ BTC-backed Lending Program ❗ SG Bank to Acquire Stablecoin payment firm 🔥HK Bank - crypto trading
Blockchain DXB
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26th Nov: Blockchain DXB) Podcast
🚨MicroStrategy) buys 55,500 BTC ⚠️CFTC report on Tokenization 👁️ BTC-backed Lending Program via Tether.io)❗ SG Bank to Acquire Stablecoin payment firm 🔥HK Bank - crypto trading
🟠 MicroStrategy) has made its largest-ever Bitcoin purchase, acquiring 55,500 BTC for approximately $5.4 billion, bringing its total holdings to 386,700 BTC, worth $37.6 billion. This acquisition, the company's third this month, follows its strategy of accumulating Bitcoin since August 2020 under Michael Saylor’s leadership. The latest purchase was made at an average price of $97,862 per Bitcoin.
🚨 The CFTC's Global Markets Advisory Committee (GMAC) has recommended expanding the use of tokenized non-cash collateral through blockchain technology in derivatives markets. This aims to improve collateral efficiency without changing existing rules. The committee also highlighted progress on regulatory solutions for utility tokens, marking a key step toward U.S. regulatory clarity for digital assets. Press release https://shorturl.at/zkG19)
✅ Cantor Fitzgerald) is launching a $2 billion Bitcoin-backed lending program with Tether.io), allowing clients to borrow dollars using Bitcoin as collateral. The move strengthens ties between Wall Street and crypto, coinciding with CEO Howard Lutnick’s nomination as U.S. Commerce Secretary. Cantor manages most of Tether's $132 billion assets and holds a 5% stake in the company. Tether, under scrutiny for its reserves and regulatory challenges, could be impacted by proposed U.S. stablecoin regulations. via Bloomberg) https://shorturl.at/FkUjC)
👀 Singapore Gulf Bank (SGB), backed by Whampoa Group) and Bahrain Mumtalakat Holding Co., plans to raise $50M by early 2025 to expand products, enhance its payment network, and hire staff. Licensed in Bahrain, SGB aims to acquire a stablecoin payments firm in Q1 2025 in the Middle East or Europe. Offering integrated financial and digital asset management, SGB plans to extend services to individuals by year-end, as stablecoins gain traction for their speed and cost benefits amid growing global crypto optimism and supportive regulations. News via Bloomberg) https://shorturl.at/rkCDV)
🔥 ZA Bank, Hong Kong's largest digital bank, has launched retail cryptocurrency trading, becoming the first in Asia to offer such services. Users can trade Bitcoin and Ethereum in HKD and USD through the ZA Bank app, with no need for additional platforms. The service, backed by HashKey Exchange for security and compliance, offers low entry (as low as USD 70 / HKD 600) and zero commission for the first three months. ZA Bank, licensed by the Hong Kong Monetary Authority (HKMA)), continues to innovate in digital banking and wealth management. here https://shorturl.at/b1QVH)
🟠 Two UAE News
⚡GCORE) and ezditek) launched a joint venture to accelerate building, training, and deploying AI solutions in the Kingdom of Saudi Arabia
⚡Abu Dhabi to host first-ever NFL event with Bitcoin rewards for players
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