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Fireblocks partners with South Korean bank on VAT tokenization 

Fireblocks extends its services with the tokenization of tax refunds through NongHyup Bank.

Digital assets platform Fireblocks has signed a Memorandum of Understanding (MoU) with NongHyup Bank, a large South Korean bank specializing in commercial credit and banking services for the agricultural sector. They hope to launch a prototype for tax refunds.

Fireblocks and NongHyup Bank will use the Fireblocks Tokenization Engine in a pilot project to refund value-added tax (VAT) and goods and services tax (GST) on purchases at retail outlets. Fireblocks co-founder and CEO Michael Shaulov told Cointelegraph that they are looking to increase transparency and security. He said:

“This not only reduces operational costs but also ensures a secure, immutable record that strengthens trust between banks and their clients,” he added.

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Trump Administration Could Compel China To Embrace Crypto, According to Hashkey Group CEO: Report

Trump Administration Could Compel China To Embrace Crypto, According to Hashkey Group CEO: Report

A crypto-friendly Trump Administration could pressure China into easing up on its digital asset hostility, according to the executive at a prominent Web3 firm. Hashkey Group chief executive Xiao Feng says in a new interview with the South China Morning Post that he “firmly” believes the mainland China crypto market will open up eventually, particularly […]

The post Trump Administration Could Compel China To Embrace Crypto, According to Hashkey Group CEO: Report appeared first on The Daily Hodl.

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Creators’ IP rights must be protected in the age of AI — Tracverse founder

Traverse founder Amos Thomas believes stories are the foundation of everything, and that humanity must do everything in its power to protect them.

Human stories and knowledge are the lifeblood of civilization and must protected at all costs in the age of artificial intelligence, according to Tracverse founder Amos Thomas.

Since their mainstream debut roughly two years ago, generative artificial intelligence solutions such as large language models (LLMs) have come under fierce criticism for reportedly sucking up the knowledge and creative outputs of humans, without credit or compensation, to train their algorithms.

The solution to this major issue lies in minting humanity’s stories on the blockchain, says Thomas.

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Stablecoin Issuer Tether Prints Nearly 4,000,000,000 USDT As Crypto Markets Edge Higher

Stablecoin Issuer Tether Prints Nearly 4,000,000,000 USDT As Crypto Markets Edge Higher

Stablecoin giant Tether has created an additional four billion USDT as Bitcoin (BTC) and digital assets make another run to the upside. Blockchain tracking firm Lookonchain says that a “massive amount of money” is set to flow into crypto markets as Tether accelerates its production of USDT, with 2 billion coins being printed in just […]

The post Stablecoin Issuer Tether Prints Nearly 4,000,000,000 USDT As Crypto Markets Edge Higher appeared first on The Daily Hodl.

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Santiment Says Retail FOMO About To Hit Cardano, Sees Ethereum-Based Coin Decoupling From Altcoin Pack

Santiment Says Retail FOMO About To Hit Cardano, Sees Ethereum-Based Coin Decoupling From Altcoin Pack

Smart contract platform Cardano (ADA) could soon witness retail fear of missing out (FOMO), according to crypto analytics platform Santiment. In a new thread on the social media platform X, Santiment says that ADA’s surprising 25% jump last week will prompt retail investors to jump into the crypto asset. “Cardano has been one of the […]

The post Santiment Says Retail FOMO About To Hit Cardano, Sees Ethereum-Based Coin Decoupling From Altcoin Pack appeared first on The Daily Hodl.

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Vitalik explores potential of ‘info finance’ as ETH tops $3K

Ethereum’s Vitalik Buterin proposes “info finance” as a pioneering framework to harness blockchain and AI for factual insights.

Ethereum co-founder Vitalik Buterin has introduced “info finance,” a new concept aimed at transforming how information is captured, validated and shared across multiple sectors.

In his recent blog post, “From Prediction Markets to Info Finance,” Buterin explores how blockchain technology could help aggregate, organize and distribute insights more effectively.

According to Buterin, “Info finance is a discipline where you (i) start from a fact that you want to know, and then (ii) deliberately design a market to optimally elicit that information from market participants.”

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Cronos Labs and Google Cloud Partner to Boost the Cronos Blockchain Ecosystem

Cronos Labs and Google Cloud Partner to Boost the Cronos Blockchain EcosystemThis partnership will see Google Cloud serve as the primary cloud provider for the Cronos ecosystem. Partnership Aims to Accelerate Cronos Ecosystem’s Growth A strategic relationship extension with Google Cloud has been announced by Cronos Labs, a blockchain startup accelerator dedicated to expanding the Cronos blockchain ecosystem. Google Cloud will be the main cloud provider […]

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UBS Digital Cash Pilot Completes, Paving the Way for Blockchain Payments

UBS Digital Cash Pilot Completes, Paving the Way for Blockchain PaymentsUBS has unveiled a major breakthrough with UBS Digital Cash, a blockchain-based solution poised to revolutionize cross-border payments. UBS Digital Cash: A Blockchain-Driven Shift in Global Payments Financial giant UBS announced on Thursday the successful pilot of UBS Digital Cash, a blockchain-based multi-currency payment solution aimed at enhancing transparency, efficiency, and control in cross-border transactions […]

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Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade

Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade

Tether’s Investment division is announcing the financing of a $45 million physical crude oil transaction between a major oil company and a commodity trader. In a new announcement, the USDT-stablecoin issuer says that this transaction is Tether Investments’ first crude oil transaction in the Middle Eastern region, marking Tether’s expanding role in global commodities trading. […]

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JPMorgan Set to Launch Instant Settlement for Euro-Dollar Conversions

JPMorgan Set to Launch Instant Settlement for Euro-Dollar ConversionsThe bank’s token, JPM Coin, which already processes $2 billion in transactions every day, will be used for the settlement processes. JPMorgan Leveraging Blockchain for Cross-Border Settlement JPMorgan, the largest bank in the U.S. has set out plans to provide quick settlement for currency exchanges between the dollar and the euro. Over time, the bank […]

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