Latest news with #MiCa
Business Wire
5 days ago
- Business
- Business Wire
BitGo Establishes Official Presence in Brazil to Offer Crypto Custody and Digital Treasury Services to Financial Institutions
SíO PAULO--(BUSINESS WIRE)--BitGo, a leading digital asset infrastructure company, today announces the operations launch of BitGo Brasil Tecnologia Ltda., its Brazilian subsidiary established to reinforce the company's commitment to international expansion and alignment with upcoming regulations for virtual asset service providers. With over a decade of experience in custody solutions, products, and services for digital assets, BitGo believes that ongoing discussions in Brazil are moving toward requiring local management of cryptographic keys, a capability the company is already prepared to deliver. By establishing a local presence, BitGo aims to ensure compliance, security, and sovereignty in providing services to financial institutions such as banks, brokerages, and asset managers. The decision to enter the Brazilian market follows the company's receipt of the MiCa license in Germany, one of the industry's most rigorous certifications, which enables BitGo to operate under European standards. The current focus is on building a strong foundation in Brazil, regardless of the country's final regulatory outcome. 'We want banks to see us as allies. We are prepared to meet any demands that arise, with security, technology, and respect for local laws. Even if the legislation takes another path, we will remain here as partners of Brazilian institutions,' says Luis Ayala, BitGo's LatAm Director. Recently, the company expanded its operations with a full portfolio of corporate treasury solutions for digital assets. In addition to insured cold storage custody and OTC trading for institutional investors, BitGo offers automated treasury workflows, audit-ready APIs, and highly specialized technical support. These services were developed for companies seeking not only security but also efficiency and control in their crypto asset operations. With the new Brazilian operation, these services are now offered through a truly localized approach, taking into account Brazil's economic, regulatory, and cultural context. BitGo is prepared to support companies that view cryptocurrencies as a strategic alternative for cash diversification, asset protection, and capital growth. The company believes that by providing technical and regulatory support tailored to the national reality, it is possible to unlock institutional use of digital assets, contributing to market maturity and the development of new, more decentralized, robust, and trend-globally-aligned financial management. 'BitGo Brasil represents not just a geographical expansion but our commitment to the sustainable development of the local crypto ecosystem, offering robust infrastructure tailored to Brazil's economic and regulatory landscape, with a focus on institutional trust,' concludes Luis Ayala. About BitGo BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit
Business Insider
07-06-2025
- Business
- Business Insider
Deutsche Bank (DB) Considers Launching Its Own Stablecoin
Deutsche Bank (DB), Germany's largest bank, is considering launching its own stablecoin and creating a tokenized deposit solution to improve payment systems, according to a Bloomberg report that was published on Friday. The move comes as stablecoins continue to gain momentum in the financial world. In fact, Europe already has a clear regulatory framework through its MiCa law, and U.S. lawmakers may pass new stablecoin legislation as early as next week. Confident Investing Starts Here: 'We are seeing growing momentum for stablecoins, especially with a supportive regulatory environment in the U.S.,' said Sabih Behzad, Deutsche Bank's head of digital assets and currencies transformation, in an interview with Bloomberg. He added that banks have many ways to get involved with stablecoins, ranging from serving as reserve managers to issuing their own coins, either independently or in partnerships with other banks. For context, stablecoins are a type of cryptocurrency that aims to maintain a stable value by being pegged to real-world assets, such as the U.S. dollar or gold. Tokenized deposits, meanwhile, are regular bank deposits that are recorded on a blockchain, which allows them to move faster in digital transactions. Deutsche Bank's interest in both tools highlights the growing interest from traditional banks in using blockchain technology to modernize payments. Is DB Stock a Good Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on DB stock based on nine Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average DB price target of $29.27 per share implies 4% upside potential.
Yahoo
22-05-2025
- Business
- Yahoo
Hong Kong Joins Global Race With New Stablecoin Licensing Bill
Hong Kong passed a stablecoin bill that will enable the region to establish a licensing regime for fiat-backed stablecoin issuers. "Hong Kong's stablecoins are backed by fiat currency as underlying assets, and we welcome global enterprises and institutions interested in issuing stablecoins to apply in Hong Kong," legislative council member Johnny Ng said on X on Wednesday. Institutions are expected to be able to apply for a license from the Hong Kong Monetary Authority by the year-end. Hong Kong has been working on establishing a stablecoin regime since 2023. The nation had published a consultation paper on stablecoin guidelines towards the end of 2023. It later introduced the Stablecoin Bill, which the Legislative Council of the Hong Kong Special Administrative Region passed in its third reading, Ng's post said. The region has been looking to keep up with nations around the world that have been establishing their stablecoin regimes. The European Union started licensing stablecoin issuers last year after passing its wide-ranging bespoke crypto bill, called the Markets in Crypto Assets regulation (MiCa). Meanwhile, the U.S. has a stablecoin bill that is passing through Congress, and the U.K. has been gathering feedback on draft legislation that will also affect stablecoins. The stablecoin sector has become the hottest trend in recent years, with both crypto and TradFi firms ramping up their exposure to the industry. Ben Reynolds, BitGo's managing director of stablecoins, said at Consensus 2025 that large banks are increasingly taking notice of the industry, largely out of fear that they will lose market share to the digital dollars.
Yahoo
16-04-2025
- Automotive
- Yahoo
Guident Pioneers the Future of Urban Mobility
West Palm Beach, FL, April 16, 2025 (GLOBE NEWSWIRE) -- Guident announces the launch of an autonomous vehicle pilot program that revolutionizes urban public transportation in downtown West Palm Beach. In collaboration with Related Ross, Circuit Transit, and Auve Tech, the project provides a 0.9-mile public transportation route, advancing a vision for smarter and more sustainable mobility. Jessica Keller, West Palm Beach Transportation and Mobility Manager, added, 'The City of West Palm Beach is pleased to be the site for this urban transportation pilot that will showcase innovation in tackling evolving transportation challenges.' Guident and its strategic partner, Estonia-based Auve Tech, are debuting the MiCa, a Level 4 fully autonomous electric shuttle, in its first U.S. deployment. Already operating in several European and Asian countries, MiCa navigates complex urban environments without human intervention. This program aims to collect real-world data, improve safety, and redefine smart, sustainable transit. 'Launching the MiCa pilot in West Palm Beach represents a significant leap forward in autonomous technology,' said Harald Braun, Chairman and CEO of Guident. 'Our collaboration with our esteemed partners underlines a shared vision: to create a safer, more efficient, and connected urban future.' Related Ross is participating in the public-private partnership as it seeks to build a pedestrian-friendly and accessible downtown environment. The real-estate developer is also exploring technology to reduce road congestion, a nationwide issue, as part of its dedication to smart infrastructure and its goal to help shape West Palm Beach into the country's model city. "The future of downtown West Palm Beach hinges on our ability to create spaces that seamlessly connect people with their environment," said Jordan Rathlev, Executive Senior Vice President at Related Ross. 'Integrating mobility solutions like the MiCa pilot lays the groundwork for a more vibrant, accessible downtown.' Integrating advanced autonomy into West Palm Beach transit marks a transformative step, setting new standards for safety and efficiency in public transportation. Alex Esposito, the CEO of Circuit Transit, said 'As a resident of West Palm Beach, it's great to see the City on the forefront of mobility innovation during this time of rapid growth. As a co-founder at Circuit, which currently operates the City (rideWPB) and DDA's downtown services, joining this AV project is a natural and exciting step as we look to continue innovating and expanding our offerings.' Route & Real Time InformationThe route map, real time service location and arrival information are available to anyone on the web at Riders can also use the Transit app to find route and arrival information on the go. Thanks to WPBgo's sponsored Royale access, Palm Beach County riders can make the best of their commute with all the app's features. About GuidentGuident brings cutting-edge technology to market to enhance the safety, efficiency, and functionality of autonomous vehicles and ground-based surveillance and inspection robots. Utilizing proprietary IP and software applications, Guident offers advanced solutions for remote monitor and control. To learn more, visit Guident's website at About Related Ross Led by visionary developer Stephen Ross, Related Ross is a fully integrated real estate firm with unparalleled expertise in mixed-use development. For more than 25 years, Related has led the transformation of West Palm Beach into one of the nation's fastest-growing cities to live, work, and visit. Related Ross leads the market in Class A office with over 2.8M square feet of existing commercial holdings built and under construction. Known for luxury residential buildings, Related Ross is introducing a new class of rentals and condos to the market, including The Laurel and South Flagler House. The company also developed and owns the most celebrated destinations in the region including CityPlace – the most visited neighborhood in the City, fostering culture and enriching the community with lush green spaces, a diverse mix of experiential retail and culinary offerings, the largest concentration of public art installed by a private company in Palm Beach County, educational programming and modern residences; as well as Hilton West Palm Beach, RH West Palm and the historic Harriet Himmel Theater. For more information about Related Ross, please visit About Circuit Transit Circuit is an innovative electric shuttle company, dedicated to making communities more sustainable, livable, and connected. Operating in CA, DC, FL, MA, NY, NJ, TX and WA, Circuit offers on-demand solutions that have provided over 10 million eco-friendly rides without traveling more than a few miles. Addressing the vital first/last-mile gap, Circuit bridges urban connectivity divides through partnerships with municipalities, developers, and advertising partners The service enhances local jobs, community engagement, and brand connections, all while reducing congestion. Discover more and learn how to catch a ride at where innovation and sustainability converge to redefine the last mile. About Auve Tech Auve Tech designs and manufactures compact autonomous shuttles, proven on public roads worldwide. We enable cities, developers, and mobility partners to deploy and manage reliable fleets with expert support. MiCa is an 8-seater autonomous shuttle that has been developed and produced in Estonia. In addition to Japan, MiCa shuttles have operated in Finland, Germany, the United States and several countries in the Middle East. For more information or media inquiries, please contact: Skyline Corporate Communications Group Scott Powell scott@ Guident Communications Harald Braun hbraun@ Related Ross Julia Verlaine jverlaine@ Auve Tech Silver Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Google's latest ad regulations for crypto to take effect from April 23
Starting April 23, Google will implement stricter advertising policies for cryptocurrency services in Europe, aligning with the European Union's Markets in Crypto-Assets (MiCA) framework. Thanks to the new rules, the announcement reads that all advertisers promoting crypto exchanges and wallets will need to be licensed under MiCA or national-level Crypto Asset Service Provider (CASP) regulations. According to Google's policy update for March 24, crypto advertisers were also required to get certified by Google and respect any other legal requirements in each EU country. The policy will apply to most EU member states, including Germany, France, Spain, Italy, and the Netherlands. While the move is intended to eliminate fraud and improve consumer protection, some industry participants are taking a more complex view of the issue. According to reports, Bitget's chief legal officer, Hon Ng, said that the update would help eliminate unregulated actors and prevent frauds such as those during the 2023 ICO boom before the industry took action. Ng cautioned that strict enforcement could, however, create gaps in enforcement, allowing fraud to occur and placing compliance costs on small players. The capital requirements of MiCA — anywhere from €15,000 to €150,000 — and the need for both Google and regulatory certification will be especially problematic for startup companies. According to Mattan Erder, Orbs' general counsel, the policy is more about protecting Google from legal liability than about protecting investors. He also expects that MiCa, which comes into force in December 2024, will benefit only the biggest players, and smaller exchanges will find it hard to remain competitive. However, violations would not result in immediate account suspension, as Google intends to give advertisers at least seven days to remedy any violations. The policy has survived the application of MiCA's much‐broader regulation of markets for crypto assets. Sign in to access your portfolio
