Alpaca Finance Institutional Newsletter #16
In recent years, traditional finance companies have flooded the crypto market, bringing with them a wealth of experience and knowledge. Along with driving growth and development, this influx will hopefully help legitimize the industry over time, which is more important than ever after recent events.
TP ICAP, which previously worked with Fidelity and Standard Chartered to launch a custody service, has now acquired a license in the UK for the execution and matching of spot trades. We also saw a pilot project led by the European Investment Bank (EIB) with support from Goldman Sachs to settle the first Euro-denominated digital bond on a private blockchain. These types of developments which have been drip-fed throughout the year, confirm continued signs of broader use and adoption.
Pointing towards the potential next frontier of Web3-enabled industries, Game7 and Fenix Games join the list of large gaming studios launching funds to support infrastructure, tooling and distribution of the next generation of gaming. Web3 has the ability to provide a range of new tools that will allow developers to create immersive, interactive, and dynamic gaming experiences. For users, the advantage is more secure and transparent transactions, as well as improved data privacy and security. Web3 gaming has the ability to open up a whole new world of possibilities for gamers, and it will likely be one of the segments driving Web3 forward in the years to come.
News
- TradFi Giant TP ICAP Gains UK Crypto License
- European Central Bank blasts Bitcoin — Community responds
- EIB settles €100 million digital bond on private blockchain
- US House committee sets Dec. 13 date for FTX hearing
Regulation
- US CFTC commissioner calls for new category to protect small investors from crypto
- Brazil passes law to legalize crypto as a payment method
- Italy to impose 26% capital gains tax on crypto profits
- Hong Kong working on investor protection regulations, says central bank exec
Products
- The creator of the FTSE100 launches indices for crypto
- Clearing company tests out securities transaction settlements on blockchain networks
- Opera Crypto Browser to enable instant NFT minting through launchpad
Funding
- Game7 allocates $100M in open-source technology grants for Web3 gaming companies
- Fenix Games raises $150M to fuel next-generation blockchain gaming
- Thai VC fund acquires troubled exchange Zipmex for $100M
- Market Maker Keyrock Raises $72M Amid FTX Contagion
