Author: Michelle Lazo

Aptos Labs, creators of the Aptos layer-1 blockchain, announced a strategic collaboration with Microsoft(NASDAQ:MSFT), Brevan Howard, and South Korean telecommunications giant SK Telecom(NYSE:SKM) to provide institutional access to decentralized finance.

The partnership introduces Aptos Ascend, a comprehensive suite of institutional solutions facilitating regulatory compliance, privacy in transactions and accounts, and streamlined know-your-customer  processes.

In response to the growing demand for DeFi integration among large institutions, various layer 1 blockchain platforms, including Avalanche and NEAR, have pursued similar enterprise partnerships.

Utilizing Microsoft Azure and Azure OpenAI services, Aptos Ascend leverages cutting-edge technology to deliver financial solutions.

Brevan Howard will leverage its industry expertise to explore digital asset management opportunities for institutions and their clients, with support from Boston Consulting Group in implementing these solutions.

Mo Shaikh, co-founder and CEO of Aptos Labs, highlighted the collaborative effort’s goal of providing financial institutions with a secure, compliant, and scalable gateway to DeFi on the Aptos platform.

Aptos previously announced its utilization of Microsoft’s infrastructure to introduce innovative AI and blockchain-powered solutions, such as the Aptos Assistant chatbot.

Founded by former Meta(NASDAQ:META) employees, Aptos Labs continues to innovate at the intersection of AI and blockchain technology.

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In just three days, Bitcoin will undergo its next halving event, a significant occurrence in its price history. Scheduled approximately every four years, this event, ingrained in the cryptocurrency’s source code, aims to introduce anti-deflationary features to Bitcoin. While past halvings have contributed to price appreciation, the dynamics this time around might differ. Here’s what to consider.

At present, each block mined rewards miners with 6.25 new Bitcoins. Following the halving, this reward will halve to 3.125 BTC per block. In theory, this reduction should alleviate selling pressure on Bitcoin. Miners, who receive new BTC as rewards, often sell these tokens promptly, potentially decreasing daily token sales post-halving. This scenario could create a demand-supply imbalance, potentially driving prices upward. However, the market’s response is far more intricate.

Past halvings sparked debates and uncertainties. Some argued that market anticipation already factored in the halving’s effects, undermining its impact. However, history proved otherwise. Preceding each of the last three halvings, Bitcoin experienced minor price surges, followed by significant increases in the ensuing year, leading to new highs.

While this trend prevailed in the past, it’s not guaranteed for this halving. With previous halvings and market cycles informing investors, forecasts might be more accurate, potentially altering the usual cycle dynamics. Notably, BTC reached new all-time highs before the halving for the first time, possibly indicating investors pricing in the event’s impact beforehand, possibly influenced by factors like ETF approvals.

In this unprecedented market cycle stage, various outcomes are plausible, challenging investors’ ability to predict BTC’s trajectory post-halving. Only time will reveal the true impact of the upcoming halving on Bitcoin’s price.

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Kraken, the second-largest U.S.-based crypto exchange, has unveiled its own crypto wallet, joining the ranks of competitors such as Coinbase(NASDAQ:COIN) and MetaMask in the saturated market.

The newly launched self-custodial “Kraken Wallet,” debuting on Wednesday, offers support for eight blockchains including Bitcoin, Ethereum, Solana, and Dogecoin. Notably, it is the first wallet from a major exchange to be open-sourced, allowing developers to access and contribute to the code. Kraken also incentivizes developers to identify vulnerabilities through its open-source grant program.

Focused on user privacy, Kraken Wallet collects minimal data necessary for functionality, shielding IP addresses and protecting users’ identity and location information. This emphasis aligns with the principles of the crypto space, emphasizing self-custody and privacy.

While Coinbase’s Coinbase Wallet remains popular, other major exchanges like Binance and OKX also offer wallets integrated into their ecosystems. Kraken’s move into the wallet space reflects its commitment to providing users with access to on-chain ecosystems and maintaining a user-centric approach.

Kraken has been expanding its product offerings, including discussions with layer 2 teams to explore building its own layer 2 blockchain. The development of Kraken Wallet underscores the importance of self-custody in the crypto ecosystem, particularly in light of the risks associated with leaving assets on centralized exchanges highlighted by past incidents such as the collapse of FTX crypto exchange in 2022.

Eric Kuhn, Product Director for Kraken Wallet, emphasized the significance of the “your keys, your crypto” ethos and expressed Kraken’s commitment to building the best all-in-one crypto wallet that is open-source, secure, and private.

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Centrifuge, a decentralized finance platform, revealed its intentions in a Wednesday blog post to establish a lending protocol for real-world assets  aimed at institutions on Base, an Ethereum layer-2 network developed by crypto exchange Coinbase.

According to the post, the protocol will enable verified institutions to onboard RWAs and borrow against their RWA holdings.

Anthony Bassili, Coinbase’s head of allocators and tokenization, remarked, “We continue to see significant interest from our institutional clients for easier access to tokenization solutions on-chain.”

This development coincides with Centrifuge’s announcement of raising $15 million in venture capital investment in an “oversubscribed” fundraising round. ParaFi Capital and Greenfield spearheaded the investment, with participation from multiple firms including Arrington Capital, Circle Ventures, Gnosis, The Spartan Group, and Wintermute Ventures.

Following the announcement, CFG, the protocol’s native token, surged by as much as 14% before moderating gains, as per CoinGecko data. Despite a slight pullback, the token remained up by 5% over the past 24 hours, surpassing the sector benchmark CoinDesk DeFi Index’s  1% decline during the same period.

This development occurs amid intensifying competition in the RWA tokenization realm, as digital asset firms and global banks endeavor to migrate traditional financial products like bonds and credit to blockchain infrastructure to enhance efficiency, settlement speed, and transparency. Asset management firm 21.co projected the market for tokenized assets to reach $10 trillion by the end of the decade.

Centrifuge specializes in bringing structured credit products to blockchain, with rwa.xyz data indicating $270 million in active loans on the protocol.

Ben Forman from ParaFi Capital expressed confidence in institutional adoption, stating, “The Centrifuge team is a leader in real-world asset tokenization, taking a deeply thoughtful approach to design decisions around legal, regulatory, and smart contract architecture.”

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