Institutional crypto weekly roundup

Our weekly list of announcements about how capital markets participants and regulators are engaging with digital assets.

ASIFMA: tokenization could revolutionize traditional finance

The Asia Securities Industry and Financial Markets Association released its new industry white paper “Tokenised Securities – A Roadmap for Market Participants and Regulators”.

The report analyzes how tokenization will impact market participants, including incumbent financial institutions (FIs) and issuers, and looks at issues they need to consider in the various stages of the securities lifecycle.

Whilst it is early stage, and the extent and timescale of future adoption is still uncertain, the paper suggests that tokenized securities will impact traditional finance and act as a bridge between legacy finance and the new digital world, taking benefits from each system.

Read the report

UK exchange using blockchain tech can process order in 6 nanoseconds

MoonX announced the launch of its new trading technology in the UK, offering a full suite of financial software and hardware systems for exchanges, brokerages, hedge funds, financial institutions and traders.

  • Exchange platform matches 25 million transactions per second (TPS) at a lightning fast speed
  • 150 times faster order matching engine than the nearest competitor
  • Technology engineered with blockchain
  • MoonX offers hardware, software and a suite of services for financial institutions

MoonX processes one order in 6 nano seconds, by that time light would have only travelled 1.8 metres, making MoonX the fastest exchange in the world. The exchange is built with enterprise-grade security, is hosted on physical servers, and uses AI, facial and mood recognition technology to go beyond 2-factor authentication.

In addition to its Exchange Software, MoonX also offers its clients custodian services. In place of using traditional clearing houses and custodian services, MoonX uses blockchain technology to store data on securities transactions and for taking custody of securities, enabling greater transparency, military grade protection of assets, speed and cost efficiency.

Read the full release

Canadian listed bitcoin fund gets nod from regulator

3iQ, a Canadian investment fund manager focused on disruptive technologies and the digital asset space, announced that it has received a favorable ruling from its public hearing before a panel of the Ontario Securities Commission (OSC) regarding The Bitcoin Fund (the Fund).

The OSC panel has directed the OSC Director to issue a receipt for a final prospectus of the Fund, a closed-end bitcoin fund that is expected to be listed for trading on a major Canadian stock exchange. 3iQ expects to syndicate the offering as soon as possible and hopes to have the Fund listed and trading later this quarter.

“Over the past three years, we have worked actively with the OSC’s Investment Funds and Structured Products Branch to create an investment fund that we hope will allow retail investors the benefits of investing in bitcoin through a regulated, listed fund,” said Fred Pye, president and CEO of 3iQ, in a statement. “We have addressed the questions of pricing, custody, audit, and public interest issues in a regulated investment fund. We intend to refile the prospectus as soon as possible as the next step in bringing this groundbreaking fund to investors.”

3iQ has had support from its partners over the past three years, including the development of an innovative bitcoin benchmark from VanEck’s MV Index Solutions, a regulated index provider and leader in developing cryptocurrency indices and data series. Gemini Trust, a New York-based cryptocurrency exchange and trust company, will act as custodian.

Read the full release

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