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“Self-custody has become more important not just for individuals, but also for our customer base, which is institutions,” Blockdaemon CEO Konstantin Richter told CoinDesk. “We saw a sort of blatant gap in the market, which is that larger institutions really want to control keys and assets, and they also want
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The crypto space endured a series of unfortunate events in 2022, beginning with the Terra debacle and ending with FTX’s chaotic death spiral. These events heightened consumer skepticism and hesitancy toward crypto platforms; yet, the industry is holding steady today. The market is even trending upwards at the time of writing. Crypto’s
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The Avalanche Evergreen Subnet will expand to onboard more third-party applications, assets, and processes. After Avalanche Blockchain launched Evergreen Subnet earlier in the month, financial institutions like T.Rowe Price have joined the ‘Spruce’ test net to participate in DeFi use cases. Wisdom Tree, Cumberland, and Wellington have also joined the
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“Institutions can pursue their blockchain strategies in private, permissioned chains with known and approved counterparties, while retaining the ability to communicate with other subnets through Avalanche’s native communication protocol Avalanche Warp Messaging (AWM),” according to the statement. The AWM allows users to data transfer, communicate and asset swap without relying
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Ava Labs, the developer of the Avalanche layer-1 blockchain platform, is introducing new institutional deployments to improve the blockchain environment.On April 6, Ava Labs introduced Avalanche Evergreen Subnets, a suite of institutional blockchain tooling and customizations designed to address company-specific requirements for financial services.The new product aims to allow institutions to
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Institutional interest in cryptocurrencies hasn’t budged despite the market being down 60% from the all-time highs (ATH), as a majority of asset managers stated they’re “extremely interested” in crypto themed-Exchange Traded Funds (ETFs). On April 3, financial services firm Brown Brothers Harriman (BBH) released its 2023 Global ETF Investor Survey
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Following the iniquitous events of last year, many players see regulation accelerating and the digital asset value chain requiring segregation. In effect, this means custodians should stick to custody and an exchange shouldn’t be a custodian or a prime broker or a broker dealer, according to Komainu’s head of strategy,
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The value proposition of Bitcoin (BTC) is on full display amid the current banking crisis, which will only “attract more institutions” to the BTC market over time, ARK Invest CEO Cathie Wood believes.Wood shared her thoughts on BTC’s recent price surge in a March 21 Bloomberg interview, stating its price
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Growing shortages of foreign exchange on the interbank market have reportedly forced the Central Bank of Kenya to ask financial institutions to ration dollar purchases by Kenyan businesses. The shortages have forced Kenyan firms to seek greenbacks on alternative markets where the exchange rate is higher than the official government
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Silvergate has had a rough week, after disclosing on Wednesday that it would delay the filing of its annual report due to questions from its auditors. In the same notice, the bank admitted it was facing investigations from bank regulators and the U.S. Department of Justice, and said its ability
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