BinBits

Decentralized Finance (DeFi) platform, Falcon Finance has announced the launch of a $50 million ecosystem fund. In a Friday blog post, it confirmed the development, stating that the fund will support teams creating the next generation of structured yield products and infrastructure that enable tokenized U.S. Treasuries, gold, and other real-world assets (RWA) to be used as reusable collateral. The blog post further explained that the fund will also be used to back projects in three key areas.

Community members and users are kicking against Binance’s decision to convert its strategic fund from stablecoins to Bitcoin. Binance in a statement released on Friday said it is set to redenominate the Secure Asset Fund for Users (SAFU). In the communique, Binance stated that it has a strong conviction that Bitcoin is the core long-term asset of the cryptocurrency industry. Moreover, the exchange said the conviction influenced its decision to convert SAFU reserves from stablecoin to BTC.

Popular cryptocurrency exchange, OKX has introduced OKX Pay and the OKX Card in Europe. The exchange announced this development in a blog post on Wednesday, claiming it as the first compliant DeFi Pay and Card solution in the European Union. With OKX Pay, users can now engage with DeFi protocols and real-world asset (RWA) applications. However, usage remains subject to regulatory approval and local laws, along with standard payment activities.

Coinbase is currently under fire in the United Kingdom for its cryptocurrency advertisements. According to a report by The Guardian on Wednesday, the UK Advertising Standards Authority banned some Coinbase ads due to misleading claims. The advertising regulator in the UK said the cryptocurrency company presented digital assets as a solution to the cost of living. Also, the regulator mentioned how the exchange downplays the risks of investing in virtual assets.

Tether has designed a new dollar-backed stablecoin, USAT, specifically for the United States of America market. In a blog post released on Tuesday, the stablecoin issuer said the new token will operate under the US federal stablecoin framework, the GENIUS ACT. According to the statement, the new stablecoin will provide US institutions with a digital dollar issued by a nationally chartered bank.

World’s Largest Universal Exchange (UEX), Bitget, has entered into a strategic partnership with the renowned fiat-crypto payment gateway, Alchemy Pay. In a recent blog post, Alchemy Pay confirmed that the collaboration would provide seamless fiat on-ramp access to the Bitget token, BCG, on the Morph network. Thanks to this partnership, users can now buy Morph-BGB directly with fiat currencies through Alchemy Pay’s on-ramp services.

The co-founder and former CEO of Binance, Changpeng Zhao (CZ), has revealed that he’s in discussions with numerous governments regarding the tokenization of assets. He shared this update on Thursday during a panel at the World Economic Forum in Davos. Tokenisation involves converting real-world assets, such as real estate, infrastructure, or commodities, into blockchain-based tokens that can be traded and divided into fractional ownership units.

Saga is the latest cryptocurrency project to suffer a cyber breach after losing $7 million to a bridge exploit. In reaction to the attack, the platform suspended activities on its SagaEVM chain to mitigate risks. The project confirmed the development on Thursday through an official blog post, providing insights into the circumstances surrounding the breach. As revealed, the breach compelled Saga to halt the SagaEVM at block height 6,593,800.

The governor of the bank of Italy, Banca d’Italia, Fabio Pancalieri, has discussed the possibility of commercial banks’ money becoming fully digital in the future. He made this announcement during a talk with the executive committee of Italy’s banking association on Wednesday, where they were discussing payments, financial infrastructure, and geopolitical challenges.

Leading fiat-crypto payment gateway, Alchemy Pay has recorded significant progress in enhancing its regulatory compliance in the United States. In a blog post released on Wednesday, the firm confirmed that it has secured a Money Transmitter License in the State of Nebraska. Alchemy Pay in the statement described the move as a long-term commitment to offering crypto services under a comprehensive regulatory framework.