While Bitcoin, Ethereum and other cryptocurrencies receive increasing attention from investors, Wall Street and its traditional banks continue to adapt to change. Consider the best stories of this week highlighting the intersection of these former guards and new school financing areas with this summary compiled by the fly.
Stimulated transparency exchange: In a major evolution towards transparency, the Crypto Exchange Bitget recently published its proof of reserve report in June. The audit reveals that the company holds 199% of all customer funds, which means that for each dollar that a user has on the platform, Bitget holds nearly two reserve dollars. This includes an amazing reserve report of 429% for Bitcoin (BTC). The longtime exchange BTCC has also published its data, showing a total healthy reserve report of 135%. This push led by the industry for verifiable proof of reserve is a direct response to the collapses of the past, aimed at creating a more resilient and trustworthy market for users.
NASDAQ partners for institutional efficiency: Nasdaq announced a major partnership with the Canton Network to upgrade its Calypso platform, a system used by the majority of the largest banks in the world. This integration uses blockchain technology to solve a massive problem of $ 1 t $ for institutions: the ineffectiveness of guarantees. It will allow banks and investment companies to manage their assets and their guarantee in real time, twenty-four-seven, in traditional and digital markets. This decision, made in partnership with trading companies as to QCP and Primrose Capital Management, aims to considerably accelerate institutional adoption by making digital assets compatible with strict Wall Street risk management standards, unprecedented liquidity and unprecedented efficiency.
Europe increases regulatory clarity: The Simplify Labs company has announced a key partnership with three large European law firms Finch. Their objective is to create a rationalized one-shop store for cryptographic companies to be launched in full compliance with European historical markets in the regulation of cryptocurrencies or Mica legislation. This is important because the mica provides a clear and complete legal framework for the entire European Union. By creating a job -consistent toolbox, this initiative aims to make Europe one of the most attractive regions for cryptographic entrepreneurs and established companies, reducing regulatory obstacles.
