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Stellar Dev Digest: Issue #72

SDF invests in Settle Network and a case study on Bitbond’s securities tokenization platform.

Hey everyone! Welcome to another issue of the Stellar Dev Digest, a weekly recap of all things related to the development of the Stellar Network.

What is Stellar? Stellar is a platform that connects banks, payment systems, and people. Integrate to move money quickly, reliably, and at almost no cost.

News & Posts of the Week

  • Last week, we announced an investment in Settle Network, the largest digital assets settlement network across LATAM for exchange and cross-border payments. The investment of up to $3 million, paid in lumens, will help bolster Settle’s current suite of payment tools centered around stablecoins. — Read the press release here.
  • SDF’s Legal Counsel, Candace Kelly, penned a response to the recently proposed Digital Asset Transaction Rule from FinCEN. It has the stated goal of combating money laundering and the financing of terrorism. We believe, for many reasons, that’s not what this rule would accomplish. — Read her thoughts here.
  • 🚀 Stellar Quest Series 2: Challenge #3 is live! — Test your skills here.
  • Sam Conner and Andre van Zyl (co-founder of Clic.World) discussed Clic.World’s six-year journey from inception to their plans for 2021 on the Stellar Discussions podcast. — Listen here.
  • Both Amazon ($AMZN) and AirBnb ($ABNB) stock are available on DSTOQ! — Check out the app here.
  • DTransfer has signed an agreement with German Bankhaus von der Heydt to become the first official user of the bank’s euro-backed stablecoin. — Read the press release here.

Application of the Week

This week I’m featuring a case study from the Bitbond team that outlines a new Securities Tokenization platform they developed in collaboration with Standard Chartered Ban and UnionBank of the Philippines.

Earlier in December, the innovation and venture arm of Standard Chartered Bank, together with UnionBank of the Philippines, successfully completed a proof of concept issuance of a tokenized bond. This test issuance was done through a “sandbox” environment that closely replicates Bitbond’s securities tokenization platform built on Stellar.

The demo consisted of mirroring a traditional issuance of a 3 years and 5.25 years dual tranche retail bond totaling PHP 9 billion (~150M EUR) on a platform dedicated to securities tokenization.

You can read more about Bitbond’s work on this project and what they learned here.

Releases and Updates

Reminder: Horizon v1.13.0 was released a week ago and includes a few performance improvements. Find the full release notes here.

Note: Upgrading to this version from version before v1.10.0 will trigger state rebuild. During this process (which can take several minutes) Horizon will not ingest new ledgers.

Subscribe here to get Stellar maintenance reminders and incident reports sent straight to your inbox.

Active Discussions

💬 This week I’m highlighting a revived conversation around CAP-0035: Asset Clawback.

Proposed a few months ago, CAP-0035 aims to provide an asset issuer with a means to clawback (and reissue if desired) assets on Stellar in order to support regulatory requirements.

In its previous specification, CAP-0035 added a new flag to an asset’s issuing account (CLAWBACK_ENABLED) and introduced a new CLAWBACK operation. The CLAWBACK_ENABLED flag has since been removed and instead just uses the existing AUTH_REVOCABLE flag.

The newest specification also highlights:

  • That the CallbackOp requires medium threshold.
  • Discussion about how to use the ClawbackOp with the AllowTrustOp to close all selling liabilities.
  • Discussion about limitations in regards to claimable balances.

Still in the Draft phase, CAP-0035 requires a bit more conversation before it’s ready for full implementation.

👉 You can find the main points of discussion and share your thoughts here.

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Did I Miss Something?

If you found that something from this issue is missing or inaccurate reach out to me (kolten) on Keybase and I’ll make sure to fix it 👍

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