Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

Curv Forms New Partnership With Solarisbank Subsidiary Solaris Digital Assets

by

Curv, a U.S.-based digital asset security infrastructure provider, announced on Tuesday it has formed a new partnership with Solarisbank subsidiary Solaris Digital Assets. Curv reported that the collaboration will extend its reach into Europe while supporting the delivery of Solarisbank’s new custody solution.

While sharing more details about the partnership, Curv Co-Founder and CEO, Itay Malinger, stated:

“Our companies are uniquely aligned to provide a flexible yet secure banking infrastructure that demonstrates the future of global finance,” said   “As a protocol-agnostic technology partner, we deliver a multi-party computation (MPC)-based security infrastructure that eliminates all single points of failure and affords institutions the option of a customized deployment to suit their specific needs for hot, warm, or cold wallet environments.”

Alexis Hamel, Managing Director of Solaris Digital Assets, added:

“As a crypto-custodian fulfilling all license requirements, we offer our partners a cutting-edge custody solution that is also fully compliant with anti-money laundering regulations in Europe. Turning to a segment leader like Curv gives us peace of mind that we can continue to accelerate the adoption of digital assets.”

Founded in 2018, Curv states it mitigates the blockchain’s irreversible single point of failure by eliminating the concept of private keys and providing an enterprise-grade policy engine.

“Curv’s keyless MPC technology and flexible tech stack enable the company to swiftly deliver customized digital asset security solutions required by crypto-native and traditional financial institutions to build world-class cryptofinance products. Curv’s highly scalable and adaptable platform can support hot, warm and cold wallet configurations as well as all tokens and protocols regardless of the underlying blockchain or DLT.”

The partnership with Solaris Digital Assets comes less than six months after Curv secured $23 million through its Series A funding round. Participates included CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8, and Digital Garage Lab Fund.

Source

Avanti launches crypto-friendly bank in Wyoming

by

According to an Oct. 28 announcement from Avanti, The Wyoming State Banking Board voted 8-0 to grant the financial institution a bank charter. The approval will allow Avanti to operate the new crypto-friendly bank under the name Avanti Bank & Trust as well as its “tokenized U.S. dollar” Avit, designed to modernize USD payments.

Avanti said it planned to open for customers in early 2021, but will be limited to high minimum balance accounts. Retail clients will have to wait. 

“Avanti’s mission is to provide a compliant bridge between the traditional and digital asset financial systems, with the strictest level of institutional custody standards,” said Avanti founder and CEO Caitlin Long:

“Currently the only type of U.S. financial institution that can provide final and simultaneous settlement of trades between digital assets and the U.S. dollar — because it is the only type currently approved to handle both within the same legal entity — is a Wyoming special purpose depository institution like Avanti.”

The Wyoming Division of Banking first accepted Avanti’s application for a bank charter in July, shortly before the bank announced it would be releasing Avit. The firm stated it would issue Avit on Bitcoin’s Liquid sidechain as well as the Ethereum (ETH) blockchain and will consider issuing it “on other blockchains in the future.”

In September, San Francisco-based crypto exchange Kraken received a Wyoming bank charter, making it the first cryptocurrency business allowed to operate as a bank in the United States.

This story is developing and will be updated

Avanti launches crypto-friendly bank in Wyoming

Source

Enterprise Blockchain Platform Waves Launches ERC-20 WAVES Token to Enable Access to Ethereum Network Apps

by

Waves (WAVES), a blockchain-based platform for developing enterprise-grade applications, will be issuing an ERC-20 compliant token as part of its collaboration with the Ethereum (ETH) network.

The Waves development team noted:

“As Waves continues to foster interoperability between various protocols, the WAVES token has been ported to Ethereum….a gateway facilitating transfers of the WAVES token to the Ethereum blockchain has been launched. This will enhance interoperability between the two blockchains and introduce Waves functionality to Ethereum users.”

The Waves team also mentioned that the gateway launch will allow WAVES token holders to gain access to many different decentralized applications (dApps), crypto-asset exchanges, and various decentralized finance (DeFi) protocols. These services are operating on the Ethereum blockchain, whose users will gain “easy access to the WAVES coin.”

Users will have the option to transfer the WAVES token between the two independent blockchains through a gateway that has been launched in the Waves.Exchange client interface. There will be a minimal 2 WAVES withdrawal fee and the deposit fee will be 0 WAVES (so it’s currently free to make deposits). As explained in the announcement, users must lock one WAVES token so that they can issue one ERC-20 WAVES token.

The Waves team confirmed that a WAVES to USDN (an algorithmic crypto-collateralized stablecoin pegged to the US dollar) pool has now emerged on Uniswap, a major non-custodial Ethereum token exchange. (Note: for more details, check here.)

The Waves developers have acknowledged that Ethereum currently has the largest ecosystem in terms of the number of dApps and total active users. They claim that the launch of the WAVES token in the ERC-20 format “opens up new opportunities for interaction between the two ecosystems.”

They added:

“As of 2021, the gateway [to Ethereum] will be operated through Gravity, a data protocol that connects disparate blockchains with a truly agnostic and untokenized hub, acting as an oracle between systems. Waves is also going to implement the option of staking WAVES tokens directly from Ethereum wallets.”

They further noted:

“Two Waves ecosystem tokens — Neutrino USD (USDN), an algorithmic dollar-pegged stablecoin, and Neutrino System Base Token (NSBT), a system and governance token for the Neutrino protocol — have been available in the Etherum network for several months.” 

The Waves team revealed that there are approximately 15.3 million USDN that have been moved to Ethereum. These coins are available via the pools of several different DeFi protocols, including Curve, 1inch, and Uniswap.

As reported recently, the Waves Association is offering 1 million WAVES or $2.9 million via its blockchain developer grant program.

Source