Latest news with #CryptoCom
Yahoo
2 days ago
- Business
- Yahoo
Coinbase Wins European MiCA License in Luxembourg
Crypto exchange Coinbase has won a European Union Markets in Crypto Assets license (MiCA) from Luxembourg, the company said in a statement on Friday. The exchange, which is the fifth-largest crypto exchange by volume according to CoinGecko, will now be able to offer services across the 30 nations in the European Economic Area. It joins other major exchanges which have secured the MiCA license. Bybit, the second largest exchange secured its MiCA license from Austria in May, while, OKX and secured their MiCA licenses from Malta. Though the EU MiCA license grants companies access to all the nations in the European Union plus Iceland, Liechtenstein and Norway, countries in the bloc have still been vying to attract major crypto companies. "Luxembourg has always been a key player in Europe's financial ecosystem, and we're delighted to share that Coinbase is officially establishing its European crypto hub in this dynamic country, under the Markets in Crypto Assets regulatory framework (MiCA)," Coinbase said in its statement. Luxembourg has passed four blockchain-related policies through national legislature, Coinbase said. Update (June 20, 15:18 UTC ): Adds more context to the third, fourth and fifth paragraphs. Sign in to access your portfolio
Crypto Insight
3 days ago
- Business
- Crypto Insight
Deribit, Crypto.com integrate BlackRock's BUIDL as trading collateral
Crypto derivatives exchange Deribit and spot exchange are accepting BlackRock's tokenized US Treasury fund as trading collateral for institutional and experienced clients. The move will allow institutional traders to use a low-volatility, yield-bearing digital instrument as collateral for their accounts, lowering the margin requirements for leveraged trading, according to Forbes. Coinbase, one of the world's biggest exchanges by trading volume, announced a $2.9 billion deal to acquire Deribit in May 2025. The deal can expand the utility of BlackRock's Institutional Digital Liquidity Fund (BUIDL). The fund holds nearly 40% of the tokenized Treasurys market share, or roughly $2.9 billion in value locked, according to data from Tokenized US Treasury products are slowly emerging as an alternative to traditional stablecoins, thanks to their yield-bearing properties. The growth of these products reflects the broader merger of cryptocurrencies with the legacy financial system. Tokenized yield-bearing government securities proliferate as centralization risks grow BlackRock tipped plans to integrate BUIDL as a collateral asset across crypto derivatives platforms and centralized crypto exchanges, including OKX and Binance, in October 2024. In January 2025, the community governing Frax Finance, a decentralized finance (DeFi) protocol, voted to add support for BUIDL as backing collateral for the Frax-USD stablecoin (frxUSD). Proponents of the integration characterized BUIDL as beneficial, providing deeper liquidity, transfer options and lower counterparty risk from using a collateral asset created and backed by the world's largest asset manager, BlackRock, with around $11.5 trillion in assets under management. Despite the positive outlook from the Frax Finance community and other digital asset platforms, centralization concerns and the possibility of structural financial risk persist among industry executives and market participants. Six firms, including BlackRock, Franklin Templeton, Ondo Finance, Superstate, Centrifuge and Circle account for over 88% of the tokenized US treasury market. Most of the US Treasurys currently onchain were tokenized on the Ethereum network, which continues to be the leading blockchain for real-world tokenized assets. Ethereum holds $5.7 billion of the total $7.3 billion in tokenized government securities. Source:
Yahoo
3 days ago
- Business
- Yahoo
BlackRock's $2.9B Tokenized Treasury Fund Now Accepted as Collateral on Crypto.com, Deribit
The largest tokenized U.S. Treasury fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), can now be used as collateral on two of the most active crypto trading platforms, and Deribit, issuer Securitize said in a Wednesday press release. The listings allow institutional traders to post BUIDL tokens as margin for leveraged trades on those two exchanges, while also earning yield on the underlying token. The tokenized Treasury market is one of the fastest-growing sectors among tokenized assets, growing about 400% in the past year to over $7 billion in market capitalization, data show. These tokens let investors earn a yield on their idle cash, just like a money market fund, but without leaving the blockchain environment. They are also increasingly being used as collateral for trading. With $2.9 billion in assets, BUIDL is the largest of the tokenized Treasury funds and is backed by a short-term yield-bearing portfolio of cash and U.S. Treasuries. "Tokenized Treasuries are being actively used to improve capital efficiency and risk management across some of the industry's most sophisticated trading venues, while still offering yield," Securitize CEO Carlos Domingo said in the statement. "The [BUIDL] fund is evolving from a yield-bearing token into a core component of crypto market infrastructure." Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Forbes
4 days ago
- Business
- Forbes
Major Crypto Exchanges To Accept BlackRock's $2.9 Billion Tokenized Money Market Fund As Collateral
Riobert Mitchnick (left), head of digital assets at BlackRock, and Michael Sonnenshein, COO at Securitize For years, crypto traders posting collateral on exchanges have faced a tough tradeoff: use stablecoins like USDC or tether, which are, well, stable but pay no yield, or roll the dice with volatile assets like bitcoin and ether, risking a double hit when markets turn south: losses on your trade and on the collateral backing it. Collateral plays a critical role in crypto. It's the security deposit behind leveraged bets, ensuring traders can cover their losses when things don't go their way. But until now, the options were limited: stable but idle, or productive but unpredictable. Now, there's a third way. BlackRock's BUIDL, the asset manager's first money market fund issued on a public blockchain in partnership with tokenization specialist Securitize, will become accepted as collateral on and Deribit, two of the industry's largest exchanges. That means institutional and experienced traders of these platforms can now post a yield-bearing, blockchain-native version of U.S. Treasurys to back trades. Because BUIDL is both less volatile and income-generating (it currently pays around 4.5% annually), exchanges can offer lower minimum collateral requirements, freeing up more capital for traders to deploy elsewhere. 'This is a major turning point,' says Michael Sonnenshein, COO at Securitize. 'We're really starting to see not just the emergence but a real solidification of tokenized securities becoming a challenger to stablecoins as the common denominator across the crypto ecosystem. They're now becoming what we would consider programmable productive capital, as opposed to just a passive investment instrument used for yield or a safe place to park capital.' Since its launch in March 2024, BUIDL has grown to $2.9 billion in assets. Its largest holders include Ondo Finance, which tokenizes real-world assets, and Ethena Labs, the creator of the USDe stablecoin. which says it serves over 140 million users globally, will make BUIDL available as collateral to institutional clients in select jurisdictions across its full suite of services, including spot, margin, derivatives, and OTC trading, according to President and COO Eric Anziani. Deribit, the largest crypto options exchange with over $1.1 trillion in volume in 2024, will allow institutional clients to post BUIDL as collateral for futures and options trading, and make it available on its spot exchange. Historically, most of collateral on Deribit has been denominated in bitcoin. 'In the end, it boils down to choice and efficiency,' says the exchange's CEO Luuk Strijers. '80-85% of our business is institutional, and we are getting more of these traditional firms that don't necessarily hold a lot of crypto but hold a lot of dollars and don't want to miss out on yield.' The integration could also accelerate adoption across the industry. Coinbase, the largest crypto exchange in the U.S., is in the process of acquiring Deribit for $2.9 billion. So BUIDL could soon be available across Coinbase's broader ecosystem, bringing tokenized Treasurys even deeper into the crypto trading stack.
Yahoo
5 days ago
- Business
- Yahoo
Trump Media is pushing deeper into crypto after filing to launch a bitcoin-ether ETF
Trump's media company has filed to launch a new bitcoin and ether ETF. The fund will invest 75% of its assets in bitcoin and 25% in ether, per a regulatory filing. The ETF follows a series of crypto moves by Trump and his companies so far this year. Trump Media & Technology Group wants to launch an exchange-traded fund to invest in the two biggest cryptocurrencies. Donald Trump's media company filed documents with the Securities and Exchange Commission seeking approval of a new bitcoin and ether ETF on Monday, with the fund aiming to invest 75% of its assets in bitcoin and 25% in ethereum. will serve as the liquidity provider and prime execution agent of the ETF, the filing said. Trump Media has already partnered with in a deal that offers retail investors access to crypto investments on Truth Social, Trump's social media platform. The new ETF is the latest push by Trump and his family into the world of crypto. In May, Trump Media announced it would raise $2.5 billion to create a "Bitcoin treasury," which the firm said was to "expand its reach throughout the America First economy." "We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets," Devin Nunes, the CEO of Trump Media, said in a statement at the time. Meanwhile, World Liberty Financial, a digital assets firm backed by Trump and his sons, issued a new dollar-backed stablecoin earlier this year dubbed USD1. The flurry of crypto maneuvers has solidified a reputation Trump was aiming to cultivate while he campaigned for president. He secured the support of crypto investors on the campaign trail with promises of more favorable regulation and the creation of a national bitcoin stockpile. He's even dabbled in meme coins. In the days leading up to his inauguration, the president released a $TRUMP meme coin and promoted the crypto on his Truth Social account. In May, the president appeared at a private dinner in Washington, DC, for the top 220 investors in his meme coin. Read the original article on Business Insider Sign in to access your portfolio
