Citi, in alliance with Wellington Management, Wisdomtree, and ABN AMRO, completed a proof of concept for the tokenization of a private fund on top of the Avalanche blockchain. The test used Spruce, an Avalanche subnet, to tokenize the fund and transact the tokenized assets, which were programmed to “automate operations, settle faster, and enable new […]Citi Completes Private Market Tokenization Test Using Avalanche
Citi, in alliance with Wellington Management, Wisdomtree, and ABN AMRO, completed a proof of concept for the tokenization of a private fund on top of the Avalanche blockchain. The test used Spruce, an Avalanche subnet, to tokenize the fund and transact the tokenized assets, which were programmed to “automate operations, settle faster, and enable new […]
The price of silver fell 2.85% against the U.S. dollar last week. However, taking a broader perspective, the precious metal has made significant gains this year. Over the past six months, silver has risen more than 29% against the greenback, and as of April 22, 2023, it was hovering around $25.08 per ounce. Citi analysts […]
Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that the proof of concept will be done in a […]
A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemming from the collapse of crypto exchange FTX, noting that the contagion “can last for a significant amount of time.” He added that the crypto industry seems to have “no significant lender of last resort.” Citi’s Analyst Warns of […]
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S. markets, due to the intersection of […]