Parse notes
The SEC has postponed its decision on the approval of bitcoin ETF applications from firms like BlackRock and WisdomTree until October. The delay will allow for extended comment periods and broader public feedback on the applications. This came as somewhat of a disappointment as the markets seemed to have been anticipating a quick approval after the SEC’s loss in the Grayscale case.
Swift announced successful tests showing its infrastructure can facilitate tokenized asset transfers across several blockchains. The project used existing security frameworks to provide multiple network access points, decreasing requisite outlay for institutions' tokenized asset endeavors. Swift collaborated with major financial institutions and web3 service platform Chainlink to make this happen.
Beam, a crypto-to-fiat on/off ramp, introduced a feature for developers that will allow them to easily include one-click conversion from crypto to fiat in their apps. This new feature is aimed at simplifying, scaling, and expanding access to the crypto ecosystem. The service includes handling compliance, liquidity management, and traditional rail connectivity, allowing developers to focus on building their apps rather than the underlying infrastructure.
Arbitrum announced the launch of Stylus, expanding Arbitrum's interoperability with additional languages like Rust, C, and C++. The announcement includes the launch of a live testnet and availability of the open-source SDK. The new tech brings enhanced speed, cost-efficiency, and expanded use cases. As part of its launch, Arbitrum is holding a Stylus Hackathon with $20,000 in bounties.
This article suggests that stablecoins should simply be digital versions of the assets they are linked to without additional utilities which could dilute the benefits of the base stablecoin. It goes on to propose five key utilities for stablecoins: Medium of Exchange, Store of Value/Peg Stability, Capital Efficiency, Fiat On-Ramp/Off-Ramp, and Censorship Resistance.
In under two months, the market cap of Rollbit has surged tenfold from $63 million to $622 million, and the platform's on-chain metrics have been showing an increasing adoption rate. This thread dives into Rollbit and some other projects that look like promising alternatives within the GambleFi narrative.
Coinbase has announced the listing of PayPal's stablecoin, PYUSD-USD, on its platform. However, the listing carries an "Experimental" label, a tag used by Coinbase for newly listed assets or those with low trading volume to caution users about potential risks. Despite mixed opinions on PayPal's stablecoin, it has been listed across various exchanges steadily and could pose competition to the leading stablecoins, USDC and USDT.
Adidas' digital arm, Three Stripes Studio, is launching a global digital artist residency program, Residency by Adidas, to support and showcase digital artists. The program debuts this month during Korea Blockchain Week and will feature works from artists MonkeeMoto and Adra Kandil as Ethereum NFTs. Additionally, the program will offer limited edition NFT drops and future collaborations on physical items.
Entheos and Plural Energy are partnering to enable blockchain-based financing of smart battery assets, aiming to make renewable energy solutions more effective and attractive.
ERC-6551 introduces Token Bound Accounts, equipping NFTs with Smart Wallets for asset management. This post from Coinbase explains the standard and its potential use cases.
SolLinked is a Solana-based email and calendar platform that prioritizes messages based on the amount of $USDC sent. This dev spun this app up after Toly, Solana’s founder, mentioned he’d like to see a product like this in the space.
Crypto Leaks accused Nansen of favorably reviewing Avalanche due to a potential business relationship between the two entities.