Fortnightly Crypto Insights 20/9/2023

September 20, 2023

Sony Blockchain 

Global conglomerate Sony has announced that it will be developing a blockchain in partnership with Singapore-based firm Startale Labs. The company claims that it will use its experience in a number of technology subfields such as gaming and music to drive forward the blockchain, offering several solutions to users. 

El Salvador Bitcoin Education Initiative

El Salvador’s Ministry of Education has begun a pilot Bitcoin education program, teaching 150 different public school teachers about the cryptocurrency. At the conclusion of the program, these teachers will then return to their schools to pass this information on to their students. The content of the program has been primarily informed by My First Bitcoin’s 10-week Bitcoin Diploma program, which was taught to Ministry of Education staff. 

friend.tech’s 180

Decentralised social network friend.tech had been on a downtrend until last week, when it managed to see a 200% increase in its TVL. Many prominent investors also took the chance at the Token2049 Web3 Conference to praise the platform, with some seeing it as a way to propel the crypto movement. 

Crypto-to-Fiat Card

Digital asset exchange BTSE has launched a new crypto card, allowing users to make fiat purchases with their deposited crypto. Users can upload USDT, USDC, BTC, ETH and EUR, and can also use the card to withdraw cash. The card is euro-denominated, though it can be used globally. 

KYC to Become Stricter

Cryptocurrency KYC regulations are expected to tighten in the near future, with Bitget Managing Director Gracy Chen suggesting that users may be required to undergo regular ID verification procedures, and may even be required to verify biometric data. 

ANZ Stablecoin

Multinational bank ANZ has announced that it has made further strides towards releasing its stablecoin A$DC after previous reports of its successful trials using Chainlink’s CCIP. ANZ’s Portfolio Lead Nigel Dobson emphasised the growing potential of tokenised assets, claiming this to be a significant milestone.

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