Regulatory Compliance in the US and UK; A Huge Couple of Weeks for DeFi; Our Closed Beta Launch of RedLedgers

RedBlock Newsletter #12- Week Ending September 27th

It’s been an amazing showing for decentralized finance these past couple of weeks. Even in its infancy, DeFi has been making headlines left and right, and we’re here to keep you up-to-date on all that and more with this week’s newsletter. But, before we get into that, we have a pretty big announcement:

We are launching the closed beta of our proprietary digital asset management platform, RedLedgers, and are inviting you to apply to be one of our beta testers and join us in bringing about a new era of efficiency and democratization to the global capital markets! Please fill in this form if you are interested- https://forms.gle/3SRTB9t5vCsrwfGf6.

Check out the full press release, which covers our platform’s suite of tools and how it is addressing the pain points of today’s global capital markets- https://www.redblockcap.com/post/redblock-commences-closed-beta-testing-for-redledgers

And of course, this week we have the next installment in our issuance platform research report series, which covers Stellerro and is live on our site, here- https://www.redblockcap.com/research

  1. More regulatory clarity in the US as the U.S. Office of the Comptroller of the Currency officially provided guidance on stablecoins. Now, officially, federal banks can provide services to U.S. stablecoin issuers, getting rid of the legal grey area that these issuers have lived in until now. It should be noted however, that this clarity only extends stablecoins pegged 1:1 with other currency and only stablecoins which are held in trusted third-party wallets. (CoinDesk)(CoinTelegraph)
  1. News last week was in part dominated by news of decentralized exchange Uniswap’s UNI token, which, in a mere two days after its launch, reached a total value of $1.6 billion. As we rounded the corner into this week, there was more good news for the UNI token as Bitfinex, a prominent crypto exchange, listed the new token, joining Coinbase Pro, OKEx, and Binance. (Decrypt)
  1. Great news coming from DeFiner, the DeFi network that provides services for crypto savings, loans, and payments, as it has, on the heels of receiving investment from Signum Capital, just announced another investment from AlphaBit, an investment fund centered around distributed ledger technology. Not only this, but Alphabit is also investing in DeFiner in the way of its expertise and “strong presence in the United Arab Emirates [which] will support the development of DeFi and growth of DeFiner in the Middle East”. (Cision PR Newswire)

References

Regulatory News

  1. “SEC, OCC Issue First Regulatory Clarifications for Stablecoins”- https://www.coindesk.com/occ-banks-can-hold-some-stablecoin-reserves

“US banking regulator authorizes federal banks to hold reserves for stablecoins”- https://cointelegraph.com/news/us-banking-regulator-authorizes-federal-banks-to-hold-reserves-for-stablecoins

2. “Gemini Launches in UK as Part of Global Expansion”- https://decrypt.co/42772/gemini-launches-uk-global-expansion

Industry News

  1. “Bitfinex Lists UNI as DeFi Token Price Doubles in Two Days”- https://decrypt.co/42373/bitfinex-lists-uni-as-defi-token-price-doubles-in-two-days

Investment and Financing Progress

  1. “DeFiner Becomes Newest DeFi Addition to Alphabit’s Investment Portfolio”- https://www.prnewswire.com/news-releases/definer-becomes-newest-defi-addition-to-alphabits-investment-portfolio-301135453.html

Visit us at: redblockcap.com

For questions and business inquiries, contact us at info@redblockcap.com

About RedBlock

RedBlock Inc is a digital investment and fintech firm leveraging blockchain technology for asset digitization and management, from issuance to secondary liquidity. Its global network of capital market participants, including issuers, broker-dealers, secondary exchanges, funds, liquidity providers and custodians, are supported by its end-to-end blockchain-powered asset management platform. RedBlock also manages an investment fund to support companies in its ecosystem that align with its investment thesis. With a growing track record and pipeline, the RedBlock team hails from top tier global investment banks, venture capital firms and blockchain technology companies.

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