EMN Weekly Issue #12

Published in

E Money Network

4 min readSep 6, 2024

We are happy to bring to you the 12th issue of EMN Weekly!

In this issue, we have covered the latest RWA & crypto regulation news from the industry, top developments at E Money Network and some crypto humour. We hope you gain both information and entertainment from this issue of EMN Weekly. Happy reading!

What’s in Today’s Issue?

This Week’s Top RWA & MiCA News
Meme Time: Crypto Humor for the Week
E Money Network Updates: What You Need to Know
Community Spotlight

Top RWA & MiCA News

Libre adding digitised funds on NEAR blockchain in partnership with Laser Digital, Hamilton Lane and WebN group — Libre, an RWA tokenisation startup is bringing several digitised funds to the NEAR protocol in collaboration with Nomura’s Laser Digital, Brevan Howard’s WebN group and private markets heavyweight Hamilton Lane. This partnership will enable NEAR protocol users to gain access to a Hamilton Lane credit fund, the Brevan Howard Master Fund and Blackrock ICS Money Market Fund. The use of NEAR Protocol’s Chain Signatures tool will enable users to buy assets on NEAR and then transfer them and manage them on any other blockchain without cross-chain bridges.
Former Square and Coinbase execs raise $58 million for global stablecoin payment network — Former Square and Coinbase executives Zach Abrams and Sean Yu have reportedly raised $58 million for Bridge, a project that aims to develop a global stablecoin payment network and rival traditional payment systems like Swift and credit cards. Bridge has received funding from Sequoia, Ribbit and Index, among other investors.
Hong Kong-based IDA raises $6 million to launch first fiat-referenced stablecoin — Hong Kong-based digital asset startup IDA has raised $6 million in seed funding round to launch its first fiat-referenced stablecoin HKDA, which will be regulated in Hong Kong. The funding round saw participation from leading blockchain investors including CMCC Global’s Titan Fund, Hacked, Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, SNZ and Yolo Investments. IDA’ Strategic blockchain partners include Solana, Polygon, Aptos and Mantra, which will foster HKDA’s accessibility, interoperability, liquidity and resilience.
Provenance Blockchain sees $100 million worth of life insurance policies minted by infineo — infineo, a blockchain startup focusing on the digitisation of the $3 trillion life insurance industry, has announced that it has minted $100 million worth of life insurance policies on the Provenance blockchain in just 3 months. “The minting of $100 million worth of life insurance policies on Provenance Blockchain is not just a technological breakthrough but a testament to our commitment to democratising access to one of the most stable financial instruments. This achievement underscores life insurance as a leading use case for real-world asset tokenization, driving both innovation and growth across the industry,” said Cole Snell, the founder and CEO of infineo.
Ripple gears to launch Multi-Purpose Tokens (MPTs) in Q3 2024 to enhance the functionality of tokenised assets on XRPL — As per a recent announcement, the XRP developer community is preparing to launch MPTs in the third quarter of 2024 to enhance the functionality of tokenised assets on the XRP Ledger. Among the key benefits of this development will be that it will enable users to gain access to real-time on-chain data so that they can track and confirm transactions in real-time. Furthermore, MPTs will be endowed with the flexibility to modify their operation in response to changes in circumstances.