evolve-announces-bitcoin-etf-begins-trading-on-tsx

Evolve Announces Bitcoin ETF Begins Trading on TSX

 

Evolve Funds Group Inc. (“Evolve“) is pleased to announce the launch of the Bitcoin ETF (“EBIT“). EBIT has closed its initial offering of units and will begin trading on the Toronto Stock Exchange (“TSX“) today under the ticker symbol EBIT.

“The recent institutional adoption has helped further legitimize the progress of bitcoin,” says Raj Lala, President and CEO at Evolve. “Being able to offer an ETF which holds physical bitcoin is a real game changer in Canada. Now investors may participate in bitcoin via their brokerage accounts within their RRSP and TFSA. Bitcoin has proven to be a store of value that is uncorrelated to other major asset classes – and has now emerged as an asset class itself.”

EBIT will provide investors with exposure to the daily price movements of the U.S. dollar price of bitcoin by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure. Investors in EBIT will directly own bitcoin on the Bitcoin blockchain in a cold wallet. Gemini Trust Company, LLC will act as the Sub-Custodian in respect of EBIT’s holdings of bitcoin.

“We are proud to be working with Raj and Evolve ETFs on the launch of one of the first true Bitcoin ETFs in Canada,” says David Abner, Head of Business Development at Gemini Trust Company, LLC. “Crypto presents unique challenges for fund issuers and utilizing Gemini for fund services like custody, execution and clearing provides real comfort to investors. We have a unique understanding of both the ETF and Crypto ecosystems and bring this knowledge to every product we support.”

EBIT will not seek exposure through derivatives or futures contracts. The daily NAV will be based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for bitcoin denominated in U.S. dollars.

“We’re proud to partner with the world’s first regulated crypto benchmark administrator, CF Benchmarks, that offers a fully transparent methodology and relies on real-time data from five Bitcoin exchanges including Gemini, itBit, Coinbase, Kraken and Bitstamp,” says Elliot Johnson, Chief Investment Officer and Chief Operating Officer at Evolve ETFs. “The world’s leading crypto currency continues to gain momentum and legitimacy as more and more institutions embrace its value and potential every day.”

EBIT is available in Canadian dollar denominated unhedged units (TSX Ticker: EBIT), and U.S. dollar denominated unhedged units (TSX Ticker: EBIT.U).

Bitcoin ETF

TSX Symbol

Unhedged Units

EBIT

USD Unhedged Units

EBIT.U

bitwise-launches-world’s-first-decentralized-finance-(“defi”)-crypto-index-fund

Bitwise Launches World’s First Decentralized Finance (“DeFi”) Crypto Index Fund

Bitwise Asset Management, creator of the world’s largest crypto index fund, the $800 million AUM Bitwise 10 Crypto Index Fund (OTCQX: BITW), today announced the launch of the Bitwise DeFi Crypto Index Fund.

Decentralized finance (“DeFi”) refers to the emerging category of digital, peer-to-peer financial services technologies that enable trading, loans, interest accounts, and more. Using public blockchains and cryptoassets rather than legacy systems, DeFi services aim to cut out traditional Wall Street intermediaries, allowing for the potential to facilitate faster operation, 24/7 availability, no minimums or paperwork, full transparency, and auditability.

“DeFi is the story of 2021,” said Matt Hougan, chief investment officer for Bitwise Asset Management. “The growth and activity in the market is incredible. Today there are decentralized trading venues handling over $30 billion in volume per month; automated lending programs making individual loans as large as $200 million; and the total estimated value of funds currently locked into DeFi-related contracts recently crossed $40 billion.”

The new Bitwise fund holds a portfolio of cryptoassets that power these DeFi services, and seeks to track the Bitwise Decentralized Finance Crypto Index. Holdings are screened for important risks, weighted by market capitalization, and rebalanced monthly.

The formal index methodology is public, and is overseen and adjusted on an ongoing basis by the Bitwise Crypto Index Committee.

The Bitwise Crypto Index Committee is supported by the Bitwise Decentralized Finance Advisory Council, a group of industry-leading DeFi experts who provide insights on the emerging sector.

The Advisory Council features:

  • Michael Anderson, Managing Partner, Framework Ventures
  • Ben Forman, Managing Partner, ParaFi Capital
  • Avichal Garg, Managing Partner, Electric Capital
  • Aleks Larsen, Venture Investor, Blockchain Capital
  • Scott Lewis, Founder, DeFi Pulse

Initial constituents and weights of the Index as of 4 p.m. ET on Feb. 16, 2021, were:

Asset

Ticker

Category

Weight

Uniswap

UNI

Exchange

25.14%

Aave

AAVE

Lending

23.37%

Synthetix

SNX

Derivatives

11.80%

Maker

MKR

Lending

10.67%

Compound

COMP

Lending

8.73%

UMA

UMA

Derivatives

6.16%

Yearn.Finance

YFI

Asset Management

5.47%

0x

ZRX

Exchange

5.07%

Loopring

LRC

Exchange

3.60%

The Fund’s custodian is Anchorage Digital Bank, N.A., which became the first federally chartered digital asset bank in U.S. history in January, and today secures over $5 billion in cryptoassets.

“DeFi is happening now, every day, and the growth is exponential. As the first national digital bank, we’re here to enable its broader adoption as a qualified custodian. We’re happy to enable more DeFi participation through Bitwise’s new fund,” said Diogo Mónica, president and co-founder of Anchorage Digital.

The Fund’s expense ratio is 2.5%, which includes costs related to custody, tax, accounting, and management fees. In the future, the fund may seek to facilitate public trading of shares in a secondary market.

$rfox-token-backs-itself-with-revenue-generating-assets-and-millions-of-users-with-latest-acquisition

$RFOX Token Backs Itself With Revenue Generating Assets And Millions Of Users With Latest Acquisition

 

Vietnam based RedFOX Labs Joint Stock Company (‘RedFOX’) has made its first significant investment as a venture builder with its acquisition of MYMEDIA Digital.

MYMEDIA Digital is Myanmar’s largest digital marketing platform that connects consumers directly to brands and influencers across food, fashion, sport and entertainment. It is one of the most heavily visited platforms in the country.

Its advertisers include global brands such as Samsung, Huawei, Nestle, Lenovo, Grab, Realme, VIVO and GrandRoyal who market directly to the 35 million users engaging in the platform per month.

Through this acquisition, RedFOX gains a football and sports app that has nearly 100K downloads and content channels for Style, Health, Tech, Sport, Business, Cars and Food.

Remarkably, more than 20 million minutes of video content is viewed each month with MYMEDIA  users.

Ben Fairbank, CEO, and Co-founder of RedFOX Labs commented:

“This acquisition is a pure plug-and-play model for us at RedFOX Labs. Our expertise is in scaling technology and building integrations and interoperability to add exponential value to the platform.

“This acquisition will allow us to build out the equivalent platforms in Vietnamthe Philippines, and Indonesia with a Rolodex of global advertisers already using MYMEDIA Digital who are chomping at the bit to get exposure to these other countries in Southeast Asia.

“The Southeast Asian market has 360 million internet users, with almost a third – 104 million – aged between 25 to 34. They are young, highly platform-literate, and have a thirst for technology and digital inclusion.

“They would use MYMEDIA Digital in a heartbeat – it just doesn’t yet exist in those countries. Our team’s focus on building and scaling technology is the bread and butter of RedFOX Labs.

“This is what RedFOX Labs has been working towards for two years and we are now hitting these acquisition goals.

“In 2019 alone, the Southeast Asian internet economy saw $100B in transaction volume. COVID-19 would have exponentially increased the transactional capability over 2020 as there was a marked shift to digital purchasing.”

the-imas-bloomberg-investment-conference-2021-will-convene-top-investors-across-the-region-to-discuss-the-future-of-capital

The IMAS-Bloomberg Investment Conference 2021 will convene top investors across the region to discuss the future of capital

The Investment Management Association of Singapore (IMAS) is returning with the annual IMAS-Bloomberg Investment Conference 2021 and the inaugural Digital Summit (https://imas.org.sg/imasbloomberg2021), which is set to take place on Tuesday, 9 March from 1430hrs and 10 March from 1400hrs, respectively.

This year’s theme is “The Future of Capital”, and will bring together top investors and thought leaders under the virtual conference roof to examine the opportunities to accelerate innovation and harness the power of technology. There will also be a spotlight on emerging innovations that will fundamentally change the asset management industry. The guest-of-honour is Ravi Menon, Managing Director of the Monetary Authority of Singapore.

Hear from luminaries such as Lim Chow Kiat, CEO of GIC, on how Global investors like GIC re-balance between geopolitical and economic forces, and Sue Brake, CIO of Future Fund on new pockets of opportunities in the post-pandemic environment at the fireside chats. Distinguished speakers such as Hugh Young, Head of Asia Pacific of Aberdeen Standard Investments and Yan Pu, Managing Director, Head of Investment Management Group (China) of Vanguard will discuss how the extraordinary growth of the Chinese capital markets is becoming a bright spot for investors.

With climate risk sitting at the forefront of investors’ concerns, Fiona Reynolds, CEO of the UNPRILars

Erik Mangset, Chief Climate Change Advisor, KLP; and Rowan Douglas, Head of Climate & Resilience Hub, Willis Towers Watson, will share insights on the Asia ESG playbook and the integration of alternative climate data sources in investments.

Over the last five years, Singapore’s fintech sector has grown rapidly, with a steady growth of 30% of fintech funding from 2015 to 2019[1]Singapore is also currently Asia-Pacific’s top-ranking fintech city, with more than 40 per cent of South-east Asia’s fintech firms based in the city-state. As the industry digitalizes at an unprecedented speed, learn how fintechs like Securitize & Matter DKS are revolutionising the asset management landscape in Asia through cutting edge technologies. Rehan Ahmed, Head of FI Products & Digital Assets, Singapore Exchange and Pradyumna Agrawal, Managing Director, Blockchain @ Temasek will lead these discussions.

Early-bird registration is now open and closes on Monday, 22 February 2021. This programme is recognised under the Financial Training Scheme (FTS) and is eligible for FTS claims subject to all eligibility criteria* being met.

More information on the two-day conference can be found on the IMAS website at: http://www.imas.org.sg/imasbloomberg2021 and https://imas.org.sg/imasdigitalsummit2021.

*Please note that this does not represent an endorsement of the quality of the training provider and programme. Participants are advised to assess the suitability of the programme and its relevance to participants’ business activities or job roles. The FTS is available to eligible entities based on the prevalent funding eligibility, quantum and caps. FTS claims may only be made for recognised programmes with specified validity period. Please refer to www.ibf.org.sg for more information. This programme is accredited with 6 CPD hours.

online-blockchain:-umbria-partners-with-polygon-to-leverage-defi-protocol

Online Blockchain: Umbria Partners with Polygon to Leverage DeFi Protocol

 

Umbria Network, a decentralized finance platform on the Ethereum blockchain – https://umbria.network, is proud to announce that it will be deploying its suite of applications on Polygon (previously Matic Network).

Polygon – which has vast experience and presence in the DeFi space – provides scalable, secure and instant Ethereum transactions using Plasma side chains and a Proof-of-Stake network. It is one of the most active layer-2 Ethereum scaling solutions in existence today. Its Developer Support Program is designed to help developers overcome difficulties they may face while developing Blockchain-based applications. It helps those building on Polygon to thrive via:

  • Early support grants
  • Technical guidance from its team and network
  • Security audit support
  • Marketing and promotional support
  • Help with investor connections

The Umbria team has decided to build its applications on the Polygon network due to its EVM compatibility; high speed, low cost transactions and the overall composability of the network.

The Umbria roadmap outlines a release of its DeFi platform with Polygon side-chain integration on the Mainnet by Q3 of 2021. The DeFi platform recently released its governance token on UniSwap, which will be used to vote on future changes to the protocol.

“We are incredibly excited about our new partnership with Polygon and look forward to collaborating with the team to achieve our common aim of bringing DeFi to the masses by removing barriers to entry,” said Barney Chambers, co-lead developer at Umbria. “The technical and marketing support provided by Polygon will be invaluable in driving Umbria forward with the Polygon blockchain scalability platform making it the perfect solution for us.”

“We are happy to help the Umbria team build their suite of DeFi applications and are excited to partner with them on their journey to mass adoption,” said Arjun Kalsy, VP Growth – Polygon (previously Matic Network).

crypto-finance-group:-why-every-bank-will-need-a-crypto-asset-strategy

Crypto Finance Group: Why Every Bank Will Need a Crypto Asset Strategy

 

We live in an age of digital disruption that has accelerated over the last year. Central banks are unleashing record levels of monetary stimulus, while technology continues to rapidly reshape our global economy. It has shown us that conventional thinking will not bring the answers for what lies ahead. In the midst of this change, crypto assets are emerging as a ‘safe-haven’ asset for institutional investors looking for alternative stores of value for their investment portfolios.

This comes as the Crypto Finance brokerage has received the securities house licence from Swiss regulator FINMA. The timing couldn’t be better. CEO Rupertus Rothenhäuser explains why.

A new asset class is emerging – crypto assets. It is an asset class designed for the new digital age we are now entering. Bitcoin and other crypto assets have attracted retail investors and now the attention of institutional investors, who are drawn to the independence these assets enjoy from the policies of central banks and governments, and the blockchain technology shaping the future of finance.

Every bank will need a crypto asset strategy

Banks will need to both create the infrastructure for crypto assets and respond as trusted advisors to clients who are interested in investing in this asset class. This creates a challenging duality: the current financial system remains, and this new digital asset finance sector emerges. Securing the expertise of a specialised partner for trading and investing in crypto assets, and developing a digital asset strategy, is an efficient way to meet this need for innovation, in incremental steps.

Increasing regulatory clarity on crypto assets

With a new DLT law addressing crypto assets effective in February 2021Switzerland is one of the few countries with this regulatory clarity. The securities house licence granted by FINMA to Crypto Broker AG – the brokerage firm of Crypto Finance Group – is one more step in making secure, reliable access to crypto assets possible for the finance sector.

Rupertus Rothenhäuser, CEO of the brokerage comments, “It’s now possible for banks to shape a crypto asset strategy within the regulated finance sector,” based on the full suite of crypto asset financial services the Crypto Finance Group provides professional investors. Read more: https://www.cryptofinance.ch/en/why-every-bank-will-need-a-digital-asset-strategy/

future-fintech-and-china-foundation-of-consumer-protection-enter-into-cooperation-agreement-to-use-blockchain-technology-against-counterfeit-products

Future FinTech and China Foundation of Consumer Protection Enter Into Cooperation Agreement to Use Blockchain Technology Against Counterfeit Products

 

Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech”, “FTFT” or “Company”), a leading blockchain based e-commerce business and a fintech service provider, announced today that, its wholly-owned subsidiary Chain Cloud Mall Network and Technology (Tianjin) Co., Limited (“CCM”) has signed a cooperation agreement with The Merchandise and Quality Week Magazine, a news magazine directly owned by China Foundation of Consumer Protection. The cooperation has a term for five years, from February 1, 2021 to January 31, 2026. The Anti-Counterfeiting Committee of China Foundation of Consumer Protection will set up a “Quality and Safety Office” and appoint Mr. Zhi Yan, the general manager of CCM, as the deputy director of that office for a term of one year, who will be responsible for building the quality and safety credit system for Chinese brands and enterprises under the “Responsible Brand Plan”. The “Responsible Brand Plan” will be officially launched in March 2021 and operated by the “Quality and Safety Office” of the Anti-Counterfeiting Committee of China Foundation of Consumer Protection.

Mr. Zhi Yan said that: “The Responsible Brand Plan will make full use of the real name based blockchain anti-counterfeiting tracing technology developed by CCM, which will not only protect the legitimate rights and interests of the enterprises and their brands, but also impose  responsibility for their product’s quality and safety.”

China Foundation of Consumer Protection was established in November 1989. It is supervised by the State Owned Assets Supervision and Administration Commission of the State Council of China. Its mission is to protect the interest of consumers and implement its responsibility as a nonprofit consumer protection organization under the Consumer Protection Law of China. One of its main responsibilities is to support and participate in anti-counterfeiting activities and clean up the consumer products market.

The Anti-Counterfeiting Committee of China Foundation of Consumer Protection is the first and the only nonprofit organization that was approved by the Ministry of Civil Affairs specializing in anti-counterfeiting in China. It was established in July 2000. It focuses on cracking down counterfeit and shoddy products that harm the rights and interest of consumers.

first-strategy-game-on-mobile-to-fully-utilize-blockchain-tech-on-skale

First strategy game on mobile to fully utilize blockchain tech on SKALE

Reading Time: 2 minutes

 

Mobile games alone brought in $81 Billion dollars in revenues in 2020, a massive number by any standard. It’s no wonder that many predict games will quickly become a massive driver of blockchain adoption, acting as the gateway to crypto for many consumers. We certainly think so, which brings us to our next Dapp, CryptoCrusades, one of the first grand strategy games on mobile that fully-incorporates blockchain technology.

There are many games working with SKALE in the Innovator Program and many gaming use cases. We are excited about all of them. However this particular use case within gaming is one we are very excited about – On Chain Gameplay.

What CryptoCrusades did that’s incredibly unique is that they didn’t just create a web 2 game and add some blockchain functionality for transactions and NFT ownership: The whole game is on-chain! All aspects of the complex and in-depth gameplay are decentralized and on chain utilizing smart contracts. It’s truly revolutionary. Everything, from your cities to your resources to your troops and even the battle system live on-chain in a secure, decentralized environment.

CryptoCrusades aims to address two main issues: Ownership and Integrity. The lack of true ownership in the video game industry makes it difficult for gamers to enjoy the fruits of their labor and guarantees those fruits will always be in their possession. The issue of integrity in centralized gaming is that trust of game play lives behind closed source centralized servers. Fairness, accuracy, and trustless game play are not part of a centralized offering. Many blockchain games run centralized offerings and only put rewards, NFTs, and results on chain. True On Chain game play means that the truth is in code, not within the control of a company or developer who tweaks code settings. CryptoCrusades is setting a new standard with blockchain gaming.

Why SKALE?
Putting game play on chain prior to SKALE was not feasible for three reasons: High gas fees, small block size limits, and slow block times. On chain game play requires a vast number of computations which can be expensive if you pay gas. Large block limits allow for more complex computations within game play. Fast blocktimes ensure the user experience and pace of play doesn’t suffer in comparison to off-chain game play.

SKALE emerged at the perfect time for their studio to collaborate with and the synergy has been amazing. SKALE’s team was easy to communicate with and has continued to be flexible for developers. With the scalability that SKALE provides, fast blocktimes, gasless transactions, and large block size limits, it allows them as blockchain developers to take blockchain technology to an entirely different dimension.

Dapp category?​Video games

What SKALE features are CryptoCrusades utilizing?

Three exciting features: Gasless transactions for end users, increased block limits, and fast blocktimes.

What CryptoCrusades is saying about SKALE:

“Switching to SKALE completely solved our on-boarding problem with their gasless transactions. Free gas coupled with huge gas limits per transaction has allowed us to be able to include more complex algorithms, like our on-chain pathfinding and battle system. This means CryptoCrusades can be one of the first blockchain games that has in-depth gameplay that’s completely on-chain, all thanks to SKALE.” Sherman Meredith, Blockchain Lead, CryptoCrusades.

coinshares-integrates-armanino’s-attestation-service-into-coinshares-physical-bitcoin

CoinShares Integrates Armanino’s Attestation Service into CoinShares Physical Bitcoin

 

CoinShares, Europe’s largest digital asset manager with $4 billion in AUM, today announced that it will be offering an attestation service for its new physically backed Exchange Traded Product (ETP), CoinShares Physical Bitcoin (Ticker: BITC), via Armanino’s Real-Time assurance application, TrustExplorer. This blockchain-enabled solution allows investors to independently verify the bitcoin backing BITC through viewable and downloadable attest reports that are generated daily.

BITC has been well received by the marketplace with total volumes exceeding $23M in the first 14 days of trading. Through the integration of Armanino’s on-demand attestation services, CoinShares offers investors enhanced visibility into the underlying bitcoin of its BITC product. This capacity for independent verification of assets further advances CoinShares’ mission to bring tailored investment products to the digital asset marketplace, which offer unparalleled security and transparency, therefore bridging the gap between institutional finance and digital assets.

CoinShares’ Head of Product, Townsend Lansing, commented, “Our team at CoinShares is dedicated to utilising innovative technology to continue our mission of bringing trust and transparency to the ETP space. As we first pioneered with our XBT Provider product line, which has $3.8 billion in AUM, we are now bringing this same innovation to our new product line, which was built with the needs of institutional allocators in mind.”

Armanino is a top 25 accounting firm specialising in digital assets. The TrustExplorer application leverages blockchain technology to independently verify the amount of bitcoin physically backing the ETP match the Issuer’s liabilities. This unique application allows CoinShares to advance the industry by adding another layer of transparency to its best-in-class physical ETP structure.

Noah Buxton, Director and Blockchain & Digital Asset Practice Leader at Armanino LLP added, “CoinShares Physical represents an exciting capital markets innovation, and we are evermore confident that such platforms must be met and served with innovative assurance tools. Anything less would be a disservice to the potential of digital assets. Since onboarding CoinShares XBT Provider ETPs in 2020, we have seen TrustExplorer’s ability to provide highly accurate attest reporting. We are humbled to continue as an important ingredient in the recipe of CoinShares’ valuable, compliant and transparent digital asset products.”

okex-wallet-integrates-unstoppable-domains-to-improve-ux-and-enable-faster-payments

OKEx wallet integrates Unstoppable Domains to improve UX and enable faster payments

OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the wallet integration of leading blockchain domain provider Unstoppable Domains. As of now, rather than having to share a lengthy combination of letters and numbers to receive payment to their OKEx wallet, users can simply provide a domain name, like jon.crypto or ema.zil.

Another key benefit of this integration is that users can receive any cryptocurrency supported by both OKEx wallet and Unstoppable Domains to the same domain – rather than having to provide separate 40-character addresses for payment in different currencies. This greatly simplifies the user’s experience and makes sending and receiving payments faster and easier.

Blockchain domains are also censorship-resistant. Unlike regular domains on the existing internet that can be taken offline, it is impossible to deplatform on the decentralized web. No one can access or take down a domain other than its owner. As a San Francisco-based company backed by Draper Associates and Boost VC, Unstoppable Domains is on a mission to “set the internet free,” and has received grants from both the Ethereum and Zilliqa Foundations.

“The integration of OKEx’s wallet with Unstoppable Domains highlights our commitment to simplifying the user experience and helping onboard more people to crypto. It also demonstrates OKEx’s continued support for the furtherment of the decentralized web. Along with additional upgrades to the exchange, such as real-time settlement for all futures and perpetual swaps, we’re making key strides in improving the trading experience for all,” commented OKEx CEO Jay Hao.

As a pioneer in Web 3.0, Unstoppable Domains has already launched thousands of websites in the decentralized web, registering more than 250,000 domains to date. The integration with OKEx wallet will help to set a new standard for crypto wallets and drive blockchain domains into the crypto mainstream.