JPMorgan blockchain arm Onyx has collaborated with a suite of industry startups to create a proof of concept that could show how tokenization can help better manage financial assets.

The tests were carried out under the Monetary Authority of Singapore’s Project Guardian and was designed specifically to enable fund managers to tokenize their portfolios on chosen blockchains.

Wealth managers could also purchase and rebalance their positions across these different interoperable blockchain networks. 

The blockchain stacks chosen for this proof of concept include Provenance Blockchain, JPMorgan’s own Onyx Digital Assets and Avalanche. Cross-chain communication protocol Axelar and…

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Ethereum layer 2 scaling network Starknet has outlined plans to improve the decentralization of three core components of its zero-knowledge proof rollup solution (ZK-rollup).

Speaking exclusively to Cointelegraph, Starknet product manager and blockchain researcher Ilia Volokh outlined the firm’s intent to address certain centralized elements of its protocol aimed at defending against censorship and making its system more robust.

Starknet operates as a validity rollup using zero-knowledge proof technology to bundle transactions into rollups, with cryptographic proofs submitted to Ethereum to achieve security and finality for layer 2 transactions. 

According to Volokh, Starknet’s protocol…

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The Singapore-based BSN Foundation, a global blockchain infrastructure organization, officially announced its launch with five international founding members on Nov. 16.

BSN’s founding members include the institutional digital asset wallet Blockdaemon, the blockchain infrastructure automation platform Zeeve, the digital asset creation platform Toko and tech firms GFT Technologies and Red Date Technology.

The newly formed BSN Foundation will serve as the governing body of the BSN Spartan Network, a public infrastructure network based on the open-source BSN Spartan data center software. The foundation’s launch marks one of the most significant milestones on its path to global expansion…

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Turkey is reportedly considering regulations for its crypto market, focusing on licensing and taxation. The aim is to remove the country from the “gray list” of an international financial crime watchdog, as Turkey ranks fourth globally in crypto trading.

According to a Reuters report, Bora Erdamar, a director at the BlockchainIST Center, a blockchain technology research and development center, said the upcoming crypto regulations will prioritize implementing specific licensing standards to prevent system abuse. Erdamar added that the regulations may encompass factors like capital adequacy standards, enhancements in digital security, custody services, and verification of…

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The Philippines Bureau of the Treasury announced it would offer 10 billion pesos ($179 million) of one-year tokenized treasury bonds for the first time after canceling the traditional auction scheduled for Nov. 20.

The Bureau of the Treasury will offer these tokenized bonds to institutional buyers at minimum denominations of 10 million pesos with increments of 1 million pesos. The bonds will be valid for one year and due in November 2024. The final interest rate will be disclosed on the issuance date, according to a report by Bloomberg.

The bonds will be issued by the state-owned Development Bank of the Philippines and the Land Bank of the Philippines.

When asked whether the government is…

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The Shiba Inu SHIB/USD ecosystem Shibarium, the ecosystem’s burgeoning layer 2 blockchain, will be instrumental in fundraising and operational activities for the Manny Pacquiao Foundation starting Wednesday, as indicated by developers in a statement to CoinDesk.

What Happened: The foundation, named after and led by the eight-division World Boxing Champion and former Philippine Senator Emmanuel (Manny) Pacquiao, is no stranger to cryptocurrency, having accepted SHIB on its website since 2021. 

“The Pacquiao Foundation is dedicated to fighting for those in need around the world and has already done so for more than a million people requiring urgent assistance,” stated Jon Sisson,…

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Guidelines for firms listing and delisting cryptocurrencies in New York have tightened up to better protect investors, according to the state’s financial regulator.

The New York State Department of Financial Services (NYDFS) unveiled new restrictions on Nov. 15 which mandate crypto companies submit their coin listing and delisting policies for NYDFS approval.

Company policies will be measured against more stringent risk assessment standards set forth by the NYDFS to protect investors. Technological, operational, cybersecurity, market, liquidity and illicit activity risks of the tokens are among the factors to be considered by the NYDFS.

The incoming changes apply to all digital currency…

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Solana (SOL) has reached new yearly highs, gaining more than 17% the day after ARK Invest CEO Cathie Wood lauded the network for its efficiency and cost-effectiveness.

In a Nov. 15 CNBC interview, Wood described the Solana network as a major infrastructure player in the wider blockchain ecosystem and added it had been doing a “really good job” in the recent market conditions.

Wood praised the Solana network for being faster and more efficient than the Ethereum network.

“Ether was faster and cheaper than Bitcoin in the day — that’s how we got Ether. Solana is even faster and cost-effective than Ether”

Wood spoke of Ethereum and Solana as important additions to the blockchain…

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Grayscale Investments is using its Ether (ETH) futures exchange-traded fund (ETF) application as a “trojan horse” to corner the United States Securities and Exchange Commission into approving its spot Ether ETF, says Bloomberg ETF analyst James Seyffart.

Seyffart said in a Nov. 15 X (Twitter) post following the SEC delaying Grayscale’s ETH futures ETF bid that he believes if the SEC approves Grayscale’s application, then it would enable Grayscale to argue for the approval of its spot Ether ETF application.

If the SEC denies Grayscale’s bid, the asset manager could argue the SEC is treating Bitcoin (BTC) and Ether futures ETFs differently by allowing one under the Securities Act…

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