Latest news with #digitalassets
Finextra
2 hours ago
- Business
- Finextra
Lithuanian fintech granted first DLT licence in Baltics
Axiology, a Lithuania-based tech firm operating in the digital assets space, has been granted a licence from the Bank of Lithuania to carry out digital bond issuance via the blockchain. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The licence, authorised under the EU's DLT Pilot Regime, is the first such one to be issued in the Baltics-Nordics region. It also makes Axiology only the second firm in Europe to receive such authorisation. As a result, it will be to ramp up its service providing digital bond issuance, trading and settlement to SMEs and retail investors in the region. According to a statement from Axiology, the firm uses a permissioned version of the XRP ledger as the backbone of its digital assets market infrastructure. 'Despite years of policy work, Europe's capital markets remain costly, fragmented, and inaccessible to smaller participants,' said Marius Jurgilas, Axiology's CEO. 'This licence allows us to operate the full capital market stack under a single, digital-native structure providing process synergies, cost savings and efficiency gains.' The licence award comes at a time when Lithuania looking to build on its status as one of Europe's most active fintech domiciles by amending its regulatory framework to lower the compliance burden for low-risk companies. According to Invest Lithuania, the country's investment promotuion agency, the new framework has been developed to be more in line with the EU's latest Anti-Money Laundering and Counter Terrorism Financing rules by enabling companies with lower-risk business models to apply a risk-based approach for simplified due diligence processes.
Finextra
2 hours ago
- Business
- Finextra
Standard Chartered launches bitcoin spot trading
Standard Chartered has become the first global systemically important bank to offer digital asset spot trading to institutional clients. 0 The offering includes spot trading for Bitcoin (XBT/USD) and Ether (XET/USD) through the bank's UK branch and will soon add non-deliverable forwards trading. The trading is fully integrated with Standard Chartered's existing platforms, allowing institutional clients to access and trade cryptoassets through familiar FX interfaces. Clients can settle to their choice of custodian, including the bank's own service. Bill Winters, group chief executive, Standard Chartered, says: 'As client demand accelerates further, we want to offer clients a route to transact, trade and manage digital asset risk safely and efficiently within regulatory requirements.' Standard Chartered has been an enthusiastic player in the digital asset market, recently unveiling a partnership with crypto exchange OKX on a collateral mirroring programme, enabling institutional clients to utilise cryptocurrencies and tokenised money market funds as off-exchange collateral for trading. Earlier this year, the bank's head of digital assets Geoffrey Kendrick forecast that bitcoin could hit a high of $500,000 over the next three years.
National Post
3 hours ago
- Business
- National Post
7 Million Tokens Sells Out in less than One Hour--$MBG Token Pre-Sale Shatters Expectations
Article content HONG KONG — MultiBank Group, the world's largest and most regulated financial derivatives institution, has set a new benchmark in digital asset launches. The Group's $MBG Token Pre-Sale sold out in less than one hour with all 7 million tokens fully subscribed across and Uniswap. Article content The $MBG Token Pre-Sale sold out in less than one hour with all 7 million tokens fully subscribed across & thousands of additional requests, MultiBank Group will open a final $MBG Token Pre-Sale on Friday July 18. Article content Priced at $0.35 per token, the entire allocation was claimed almost instantly. This exceptional level of interest marks one of the most successful offerings in the digital asset space this year, highlighting intense demand for asset-backed products with real-world utility. Article content Following thousands of additional requests, MultiBank Group will open a second and final $MBG Token Pre-Sale on Friday 18th of July, ahead of the official Token Generation Event (TGE) on July 22. This last round will feature 3 million tokens at the exclusive price of $0.35, giving early participants one last chance to join before trading begins. The final $MBG Token Pre-Sale will be available through and Uniswap. Article content Commenting on the success of the Pre-Sale, Naser Taher, Founder and Chairman of MultiBank Group, said: 'The sell-out of our initial $MBG Token offering in less than one hour is a decisive validation of our vision. In a market saturated with speculation, the response we received confirms that institutional-grade transparency, regulatory integrity, and asset-backed value are what investors are now demanding. $MBG is here for the long term, reflecting the experience, resources, and global reach that underpin everything we do at MultiBank Group. The market has spoken, and it has spoken with speed and conviction.' Article content Supported by $29 billion in assets across the group's 4 Pillars and powered by over $35 billion in daily turnover, $MBG token is engineered for substance showcasing the proven track record and compliance of one of the industry's most trusted names. Article content MultiBank Group's ecosystem is designed for resilience and growth, anchored by four pillars: Article content MultiBank TradFi: A global CFD leader, generating $362 million in revenue in 2024. MEX Exchange: A $23.7 billion institutional-grade marketplace launching later this year. RWA: Bringing $3 billion in tokenized ultra-luxury real estate to market. Expanding into crypto derivatives alongside the sale. Article content Together, these platforms will drive a $440 million buyback and burn initiative, reinforcing demand, ensuring a deflationary supply, and sustaining value growth for $MBG holders. Article content ABOUT MULTIBANK GROUP Article content MultiBank Group, established in California, USA in 2005, is a global leader in financial derivatives. With over 2 million clients in 100+ countries and a daily trading volume exceeding $35 billion, it offers a broad range of brokerage and asset management services. Renowned for innovative trading solutions, robust regulatory compliance, and exceptional customer service, the Group is regulated by 17+ top-tier financial authorities across five continents. Its award-winning platforms provide up to 500:1 leverage across Forex, Metals, Shares, Commodities, Indices, and Cryptocurrencies. MultiBank Group has received over 80 international awards for trading excellence and regulatory compliance. For more information, visit MultiBank Group's website. Article content Article content Article content Article content Article content Article content
Khaleej Times
4 hours ago
- Business
- Khaleej Times
UAE-built crypto exchange launched by BurjX with Sharia-compliant features in pipeline
A new UAE-based cryptocurrency platform has officially launched with an ambitious plan to reshape digital asset trading in the region — and a long-term vision to offer Sharia-compliant products that meet both regulatory and religious standards. BurjX, co-founded by Canadian crypto entrepreneurs Omar Abbas and Adam Ferris, went live on Tuesday, July 15, with approval from the Abu Dhabi Global Market (ADGM). The platform allows users to trade more than 100 digital assets directly in UAE dirhams, with funds safeguarded under institutional-grade security and compliance frameworks. But while the exchange is now operational, its most distinctive offering — Sharia-compliant crypto products — is still in the works. Stay up to date with the latest news. Follow KT on WhatsApp Channels. 'It's not going to be available from day one,' Abbas clarified to Khaleej Times. 'But we are working on that as a rollout product for sure.' He added that any such offerings will be vetted and approved by recognised Sharia authorities before launch. 'We will partner with the appropriate Sharia boards, and when we do launch, it's going to be approved by the appropriate Sharia regulators,' he said. No definitive timeline has been set. Regulated, secure and easy to use Licenced by the Financial Services Regulatory Authority (FSRA) of ADGM, BurjX is both a broker and custodian. Client assets are stored using Fireblocks, a globally trusted custody solution, and protected by a comprehensive insurance policy covering hot and cold wallets. 'Our clients' investments are safeguarded by Fireblocks — it's institutional-grade custody infrastructure, backed by insurance,' Ferris said during the launch. The platform also supports instant deposits and withdrawals in dirhams, integrated directly with UAE banks. Abbas described this as a key differentiator: 'That's our bread and butter — making it super easy to get your money in and out of crypto in dirhams, with minimal friction.' From a compliance standpoint, the platform incorporates robust onboarding, trade surveillance and wallet risk policies to screen out bad actors. 'We're focused on building something safe, regulated, and secure — not just fast,' Abbas said. Not just for whales — or day traders While built on institutional infrastructure, BurjX is designed to support users of all experience levels. 'Whether you're a first-time trader like my own mother, or managing an institutional desk, we built this for you,' Abbas said. The platform features more than 100 fully vetted digital assets at launch — including major tokens like Bitcoin, Ethereum, Solana, Dogecoin, and others — and spans multiple sectors such as AI, real-world assets and Layer 1 blockchains. 'It's not just about the names,' he explained. 'We're enabling users to build a diversified portfolio across different categories of the market.' For high-net-worth investors, BurjX has launched a Private Client Group and OTC desk, offering personalised execution, deep liquidity and white-glove service. 'It's a premium experience with the clarity of private wealth, the control of institutional-grade execution, and the confidence of a regulated platform,' Abbas added. UAE-first, founder-built — and personally funded BurjX's founders repeatedly emphasised that the platform was not only built in the UAE but designed specifically for the region's investors. 'We are not offshore entities entering the region. We're homegrown and globally headquartered in ADGM,' Ferris said. 'We're building for this region.' Abbas said the team chose to base themselves entirely in the UAE. 'Our entire team — engineers, designers, compliance leaders — is based here,' he said. 'Each one of them is like a partner in the company. They deal with it with care and obsession.' And the founders didn't just commit their time — they risked everything. 'I sold my house, sold a big stake of my Index equity, uprooted my family and landed in the UAE, risking everything on a belief that this region deserves something better.' When asked whether that sacrifice had been worth it, he said: 'If I had known it would take this long — almost three years — I might not have done it. But now that we're here, now that it's Day One, I can tell you it was worth it. This journey took everything out of me. It tested me, personally and professionally. But we showed up every day, and we built something real. Something this region can trust. 'Not just another crypto exchange' The founders describe BurjX as fundamentally different from existing exchanges that have expanded into the region from abroad. 'What you're witnessing today isn't just another crypto trading platform,' Abbas told attendees during the launch event in Abu Dhabi. 'This is the next category leader for the Mena region, built from the ground up in the UAE — the capital of capital.' Abbas previously co-founded NDAX, Canada's largest regulated exchange, which processed over $20 billion in trading volume and served more than 500,000 users. His new venture, he says, is not a copy-paste operation. 'This time, we came to raise the bar. To build something better, something that's homegrown. In a region that's shaping the future of finance.' Despite launching at a time of surging global interest in crypto, BurjX's founders insist they are not chasing headlines. 'We're not here to capture a significant market share,' Abbas told reporters. 'We just want to focus on building a profitable platform, then roll out new products the market needs.' He added that they have no interest in replicating the hype cycle often associated with crypto launches. 'We're not just focused on hype. We're more interested in putting together a product you can comfortably use, trust, and refer your friends to.' Asked what success would look like a year from now, Abbas answered simply: 'Profitability — and being part of a regulated ecosystem that raises the bar.' Why ADGM? 'ADGM was the first regulator to pioneer a comprehensive virtual asset framework,' Abbas noted. 'We knew that if we could meet the bar here, we'd be building on the strongest foundation possible.' Ferris added: 'When you're building a financial services firm, you need a foundation that you can rely on. Even if the bar is high, that's exactly what you want.' The pair believe the UAE offers a combination of regulatory clarity, economic momentum and untapped potential. 'This region, especially the UAE, is going to be even more exponential in growth over the next 10 to 15 years than we've seen before,' Ferris explained. 'You want to be in a market with a stable regulatory framework and serious growth.' 'No more platforms built abroad, operated overseas, and plagued by delays and confusion,' Abbas concluded. 'BurjX is built for us.' As users began scanning the QR code projected on the launch screen to download the app, he added: 'This is just the beginning. Today, the belief becomes real.'
Bloomberg
4 hours ago
- Business
- Bloomberg
Bitcoin Chases American Dream in Norm-Shattering Mortgage Push
What was once dismissed as a fringe fantasy by a niche band of crypto believers is now being tentatively examined by the government-sponsored entities at the core of the US housing market. In late June, federal officials directed Fannie Mae and Freddie Mac to study whether digital assets held on US regulated exchanges might someday be factored into mortgage risk assessments — the process lenders use to determine whether a borrower has the financial clout to make good on their debt.
