• Team Sygnum

Discover the top news in crypto for the week!



This week, giant payment companies are entering the stablecoin trend while more brands delve into how to succeed in the Metaverse world. Meanwhile, crypto hedge funds outperformed their traditional counterparts while governmental and institutional adoption grew. Find out the top 5 crypto news of this week.

 

Why the island nation of Palau is going crypto

The small island nation of Palau is turning to blockchain to make the country a financial hub and attract investors and businesses. Now, the country is launching a digital residency program in partnership with a crypto company using blockchain technology to issue visas. The digital form of the residency program will be issued as a non-fungible token (NFT), showing how Palau is utilising many fronts of crypto to set itself up as a prime destination. Read more

 

The Associated Press is starting its own NFT marketplace for photojournalism

The Associated Press is entering the tokenization game, aligned with journalism, launching an NFT marketplace in collaboration with Xooa. The NFTs from ‘news agency’s award-winning contemporary and historic photojournalism’ will be issued on scalable and green Layer 2 solution, Polygon. Other leading media organisations like The New York Times have issued articles as NFT, but AP is going one step further to a fully-fledged marketplace, from photos of space to war scenes. Read more

 

Paypal says it is looking into developing a dollar-backed stablecoin

According to new reports, Paypal is developing a stablecoin, a USD-backed cryptocurrency, bolstering its involvement in the digital sector. Stablecoins reached a record supply in 2021, given its pivotal role in merging traditional FIAT currencies and digital assets. Other companies have launched private stablecoins like Meta (formerly Facebook) and JP Morgan, with different roadmaps and bottlenecks, while in the future will also see a ‘PayPal Coin.’ Read more

 

Crypto funds outperformed traditional hedge funds and digital asset benchmarks

Crypto hedge funds outperformed traditional funds in 2021, with superior returns against market benchmarks. According to data from Hedge Fund Research, crypto hedge funds reached an average return of 214 percent in 2021, compared to slightly over 10 percent from legacy hedge funds. The performance in 2021 was the best since 2015, except for 2017, reflecting the institutional and retail boom that crypto has experienced recently. Read more

 

Three steps brands must take to win the Metaverse

Experts agree that the Metaverse and Web 3 technologies will see an increase in adoption this year, but brands and organisations must step forward with clear goals to ease this transition. First, brands need to utilise decentralised technology within their new services and experiences to engage people in a virtual ecosystem. Beyond technology, organisations need to embrace tokenization, create communities, and set clear ethical rules in the virtual world for an optimal experience. Read more



To be the first to get the latest news on Sygnum and the market, expert insights and industry research please follow us on Linkedin and Twitter.




Disclaimer

This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.

56 views