Key news of the crypto industry

18 January 2023

Russia and Iran are preparing to launch a joint cryptocurrency

Key news of the crypto industry

The coin will become a stablecoin, which will be backed by gold.

According to Alexander Brazhnikov, executive director of the Russian Association of Crypto Industry and Blockchain, the Central Bank of Iran and Russia are considering creating a stablecoin for international payments. It is known that the coin will be backed by gold and will function as a payment method between the two countries. The place of its application is likely to be the Russian city of Astrakhan, recognized by the authorities as a free trade zone, where Iran already supplies goods.

Creating a joint stablecoin will be considered after the final settlement of using cryptocurrencies in Russia. This is expected to happen in 2023. For Iran, crypto payments with Russia will not be the first experience: in August 2022, the country began to import goods, paying with blockchain coins.

Brazil’s second private bank issues tokenized credit note

Key news of the crypto industry

 Bradesco was the first company in the country to create a tool like this.

The first transaction, equal to 1.95 million US dollars, took place within the regulatory framework of the Central Bank of Brazil. This was the first tokenized operation regulated by the country’s Central Bank. But the bank can not be called a pioneer in the field: in December 2022, Santander issued tokenized bonds (another inherent credit form) of the company – the operator of parking opportunities Indigo for 40 million Brazilian reals, which is equal to 7.8 million US dollars. In July 2022, the country’s largest private bank, Itaú Unibanco, launched its tokenized platform, Ita ú Digital Assets. The company already offers cryptocurrency storage services.

Binance offers investors the opportunity to keep collateral off the crypto exchange

Key news of the crypto industry

The Binance Custody product will provide this feature to institutional players.

Collateral in the form of a secured cryptocurrency, used in positions with leverage, can now be stored outside the Binance platform on the Binance Custody product. It stores currency off the Internet in cold storage wallets. After closing leveraged transactions, the currency with Binance Custody can be transferred to hot, that is, internet-connected wallets. This will allow you to regulate the outflow of cryptocurrency from the exchange during unstable rate jumps and protect investors’ assets from hacking via the Internet.

It is assumed that the opening of Binance Custody was one of the responses to the collapse of the FTX exchange, the users of which still did not receive their money and a tenth of their cryptocurrency savings.

Amazon Web Services now promotes blockchain technology

Key news of the crypto industry

The platform uses the Avalanche blockchain to bring the technology to businesses and the government.

The cloud computing platform Amazon Web Services has announced a partnership with Ava Labs. The goal of the work will be the widespread introduction of blockchain technology in different spheres of life and business sectors. With the partnership, blockchain products can be launched and managed efficiently, and instant data transfers on the blockchain can be controlled. The network can be customized for the organization, preventing competitors’ employees from accessing the blockchain. As a result of this news, Avalanche’s blockchain token, AVAX, has grown 13.5%.