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- Deutsche Bank Launches Ethereum-Based Layer-2 Blockchain
Deutsche Bank Launches Ethereum-Based Layer-2 Blockchain
News on the Blockchain
December 19, 2024
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 772
Market Cap: $3.5T (-4.73%)
24h Volume: $268.45B (+40.07%)
Bitcoin Dominance: 57.04%
Ethereum Dominance: 12.58%
ETH Gas Price: 13.1 Gwei
Fear & Greed Index: 69/100 (Greed)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin | $100,941.14 | -3.72% | $1.998T | $100.58B |
Ethereum | $3,649.47 | -5.40% | $439.59B | $52.90B |
Tether | $0.9994 | -0.06% | $140.54B | $224.49B |
BNB | $693.79 | -2.88% | $99.91B | $2.93B |
Solana | $207.88 | -4.79% | $99.61B | $7.44B |
💹 Market Highlights:
Total DeFi Volume: $18.89B (7.04% of total 24h volume)
Stablecoins Volume: $249.67B (93.01% of total 24h volume)
Coin with highest % change: USUAL (+21.61%)
📈 Preview On Today’s News:
- Deutsche Bank Launches Ethereum-Based Layer-2 Blockchain to Enhance Financial Compliance
- BlackRock ETF Pioneers Blockchain-Issued Municipal Bond Purchase
- Circle CEO Champions Digital Dollar Initiative to Enhance U.S. Economic Influence
Keep reading below for more!
Today’s News:
1)
Deutsche Bank Launches Ethereum-Based Layer-2 Blockchain to Enhance Financial Compliance
Deutsche Bank, a leading $1.5 trillion investment bank, has announced the development of a layer-2 (L2) blockchain on Ethereum using ZKsync as part of its Project Dama 2, unveiled in November 2024. This initiative aims to address regulatory challenges in the financial sector by ensuring transaction efficiency, security, and seamless integration with Ethereum. By leveraging blockchain transparency while maintaining regulatory compliance, Deutsche Bank seeks to encourage greater institutional participation in decentralized networks. The bank plans to launch the platform within the year, potentially driving significant adoption of blockchain technology and strengthening the intersection between traditional finance and digital assets.
Deutsche Bank is building a layer-2 blockchain on Ethereum with ZKsync to enhance transaction efficiency, security, and regulatory compliance as part of Project Dama 2.
The initiative aims to bridge blockchain transparency with financial regulations, encouraging more institutions to engage with decentralized networks and potentially driving widespread adoption of blockchain technology.
2)
BlackRock ETF Pioneers Blockchain-Issued Municipal Bond Purchase
In a groundbreaking advancement for the financial sector, BlackRock’s iShares Short Maturity Municipal Bond Active ETF (MEAR) has made its first-ever purchase of a municipal bond issued through blockchain technology. Announced on December 18, 2024, this historic transaction marks a significant milestone in the integration of blockchain within traditional capital markets. BlackRock, managing assets worth $11.5 trillion, continues to lead in digital asset adoption by successfully launching Spot Bitcoin ETFs that have outperformed its Gold ETF. The blockchain-based municipal bond, issued by Quincy, Massachusetts and facilitated by JPMorgan on a blockchain network, exemplifies BlackRock’s commitment to innovation and its potential to transform financial instruments. This move not only highlights the increasing institutional interest in digital assets but also underscores 2024 as a pivotal year for the growth and acceptance of blockchain technology in the financial industry.
First Blockchain-Issued Bond Purchase: BlackRock’s MEAR ETF becomes the inaugural fund to acquire a municipal bond entirely issued through blockchain, showcasing the technology’s potential in traditional finance.
Leadership in Digital Assets: This transaction reinforces BlackRock’s position as a leader in digital asset adoption, following the successful launch and performance of its Spot Bitcoin ETFs.
3)
Circle CEO Champions Digital Dollar Initiative to Enhance U.S. Economic Influence
In a recent CNBC interview, Jeremy Allaire, CEO of Circle, advocated for the United States to prioritize the export of dollar-indexed digital assets, emphasizing the creation of fully reserved digital dollars to preserve the U.S. dollar's value in a dynamic economic environment. Allaire highlighted the necessity of strengthening the dollar’s global position by advancing stablecoins, which can amplify America's economic influence and address national debt through a transparent digital dollar system. He also called for clear regulatory frameworks to guide the trading and utilization of digital assets, asserting that such regulations are essential to foster innovation and define the nature of digital tokens. This initiative aims not only to bolster the U.S. economy but also to enhance global financial stability by integrating digital asset regulation with fiscal responsibility. Additionally, the cryptocurrency landscape continues to evolve with developments like Deutsche Bank's new blockchain compliance protocol and the emergence of promising cryptocurrencies such as Qubetics and Musk Loves Bitcoin.
Strengthening the U.S. dollar: Circle CEO Jeremy Allaire promotes the export of dollar-indexed digital assets and the implementation of fully reserved digital dollars to enhance the dollar's global standing and address national debt.
Regulatory advancements and market growth: Allaire calls for clear regulations on digital assets to foster innovation, while the crypto market sees ongoing developments like Deutsche Bank's blockchain compliance protocol and the rise of new cryptocurrencies.
