Abu Dhabi broadens crypto regime with new stablecoin approvals and Binance licensing

Gluwa, a San Francisco-based blockchain firm, has become a key partner in Nigeria’s central bank digital currency (CBDC) project, the eNaira, Korean media outlet Seoul Economic Daily reported.   Tapping into Nigeria’s 226M populationGluwa, the issuer of Creditcoin (CTC), announced yesterday that its Nigerian branch Gluwa Nigeria signed a memorandum of understanding (MOU) with the Central Bank of Nigeria (CBN). Through the MOU, Gluwa Nigeria aims to facilitate the adoption of digital currency in Africa’s largest economy with a 226 million population, by connecting eNaira to Credal, the native API for Gluwa’s Creditcoin network. This integration is expected to enhance Nigeria’s financial ecosystem by recording loan and payment transactions on the Creditcoin network.Photo by Emmanuel Ikwuegbu on UnsplashMaking the financial system more inclusive and efficient The partnership is anticipated to boost financial inclusiveness among many Nigerians who are financially isolated due to their lack of access to traditional financial services. Moreover, the CBN expects that the adoption will improve the eNaira’s functionality and spur innovation in the country’s financial system. Among other objectives of the project is to create an efficient financial infrastructure in the country so that Western fintech firms can easily enter the Nigerian financial market.   Oh Tae-lim, CEO of Gluwa, said the company plans to lay out the project’s blueprint by the end of this year and eventually broaden the acceptance of the eNaira, taking the potential of the digital currency to a new level.  Meanwhile, Gluwa’s native token, CTC, is a real-world asset (RWA) network with a loan transaction volume of KRW 106.8 billion ($80 million) and a user base of 337,000.  

Matrixport Focuses on US Market With New AppointmentMatrixport, the Singapore-based cryptocurrency trading and lending platform, has announced a new appointment to lead its operations in the United States.US institutional-focused businessThat’s according to a recent report published by The Block. Mo Zhou, previously the Chief Operating Officer (COO) for Matrixport in the US, will now take charge of the company’s institutional-focused business lines in the country. This move comes as Anthony DeMartino, the former US CEO, steps down from his role and assumes an advisory position within the company.Anthony DeMartino, a seasoned trading veteran, joined Matrixport approximately a year ago from Coinbase, where he led Coinbase Risk Strategies. Prior to that, he held senior trading positions at prominent financial institutions such as UBS, Barclays, and HSBC, culminating in his role as the Head of LATAM Rates Trading at HSBC.When DeMartino was hired, Matrixport highlighted its international growth plans in the US, expressing its commitment to expanding its presence despite regulatory challenges faced by crypto businesses in the country.The recent announcement reaffirms that Matrixport’s plans for growth in the US remain intact. Ross Gan, Head of Public Relations and Brand for Matrixport, stated that Anthony DeMartino has transitioned to an advisory role while Mo Zhou, the newly appointed COO, will oversee the day-to-day operations in the United States.Photo by Sora Shimazaki on PexelsProminent Asian crypto businessMo Zhou brings a wealth of experience to his new role, having worked in derivatives and mergers and acquisitions (M&A) for ten years. He is a Harvard-trained lawyer and is well-equipped to lead Matrixport’s institutional-focused business lines in the US.As one of the larger cryptocurrency businesses in Asia, Matrixport boasts a global workforce of over 290 employees. The company’s impressive figures include more than $700 million in outstanding loans and a monthly trading volume of $5 billion, as stated on its website.Bullish price predictionMatrixport has garnered some attention for its Bitcoin price predictions over recent weeks. Last month, the company pointed out that its Bitcoin Greed & Fear Index had surged towards the greedier end of the spectrum. At the time, the Bitcoin price stood at $31,200. The firm predicted a cooling over the shorter term in that price action. At the time of publication, the Bitcoin unit price stands at $30,300, having dipped below the $30,000 mark on a number of occasions.Last week, Matrixport’s Head of Research and Strategy, Markus Thielen, suggested that Bitcoin is heading towards a unit price of $125,000 by the end of 2024. Thielen maintained that Bitcoin recording a one year high unit price on June 22 signified the end of the bear market, and the start of a bull market. Thielen and Matrixport find themselves in good company as on Monday, international financial services firm Standard Chartered predicted a Bitcoin unit price of $50,000 by year end and a price of $120,000 by the end of 2024.Matrixport’s appointment of Mo Zhou reflects its ongoing commitment to expanding its operations and solidifying its presence in the United States. With Zhou at the helm of the company’s US business, the company is positioning itself to navigate the evolving cryptocurrency landscape and continue its growth trajectory in this developing market.

Japan’s Largest Airline Opens NFT MarketplaceAll Nippon Airways (ANA), Japan’s largest airline, has ventured into the world of Web3 by launching its own non-fungible token (NFT) marketplace through its subsidiary, ANA Neo.Photo by Marcus Ng on UnsplashANA GranWhale NFT marketplaceThe newly introduced platform, called the “ANA GranWhale NFT Marketplace,” will showcase an exclusive digital art collection crafted by renowned aerial photographer Luke Ozawa.The NFT marketplace commenced on Tuesday with the conversion of Ozawa’s first digital photograph into an NFT. One of these unique pieces will be auctioned alongside the positive film, which served as the source for the photo’s development. The starting price for this item is set at 100,000 yen, offering collectors the opportunity to acquire an NFT paired with a tangible artifact.Following this initial collection, ANA plans to release its second batch of NFTs on June 7. This collection will feature the NFT rendition of the first Boeing 787 operated by ANA, presented in the form of a 3D model airplane. The offerings include a total of 1,574 items, comprising two types of 787 models, with each item priced at 7,870 yen.ANA, a company with revenues of $12.2 billion in its previous fiscal year, aims to expand its NFT product line in the future. The airline envisions leveraging NFTs to enhance the customer experience and add value to its services.Airline industry NFT PotentialThe development of ANA Neo’s GranWhale initiative began in August of last year. The project focuses on creating a virtual travel platform that utilizes various technologies, including virtual reality (VR), to recreate destinations and cultures from around the world. These recreations take the form of metaverse parks, allowing users to explore and immerse themselves in virtual travel experiences.ANA Neo President Mitsuo Tomita emphasized the significance of this venture, stating that the ANA GranWhale logo symbolizes the fusion of the virtual and the real, signifying the airline’s journey into the future, where Web3 and metaverse travel will become increasingly prevalent. “Through this initiative, we aim to unlock the potential of NFTs in the aviation industry, bringing together the digital and physical realms to create unique and memorable experiences that unite the world in wonder,” Tomita stated.Club Toki NFTsANA is not the first Japanese airline to involve itself with the NFT space. Earlier this month, regional Japanese airline Toki Air announced the launch of Club Toki, a fan community centered around NFTs. The initiative claims that community members join by purchasing NFTs, and as NFT holders, they receive further club benefits. The NFTs can be purchased by credit card or payment in ETH, with the buyer needing a MetaMask wallet in order to receive the NFT.In March, Argentinian low-cost airline Flybondi integrated Web3 into its ticketing process by issuing tickets as NFTs in a partnership with NFT ticketing firm, TravelX. With this initiative, Flybondi became the first airline to offer flight tickets as NFTs.With its entry into the NFT marketplace, ANA joins the growing number of companies embracing Web3 technologies to offer unique digital assets and experiences. As the airline continues to develop its GranWhale platform, it seeks to cater to the evolving demands of the market and establish a presence at the intersection of aviation and the metaverse.