Welcome back to your weekly dose of Altcoins at Glance, where we summarize the latest and most important news that you might have missed. Stay informed in under five minutes. For this edition we have updates from Solana, Moonpay, Bitfinex, Ripple, and France’s new law.
Let us get started.
Solana Integrates with IoTex
- Solana (SOL) has integrated with IoTeX, a blockchain platform that focuses on the intersection of the Internet of Things (IoT).
- The integration was announced on Oct 26 by IoteX
- The integration allows developers to connect their decentralized applications (dApps) to real-world data and generate corresponding on-chain events.
- Developers can now harness real-world data and build DePIN (Decentralized Physical Infrastructure Networks) dApps that impact everyday lives.
- The integration with Solana will enable IoTeX to provide real-time analytics on Solana-connected hardware devices.
Moonpay Partners with Mastercard
- On October 25, 2023, Moonpay announced a partnership with Mastercard, one of the biggest payment processing companies in the world.
- The partnership gives Moonpay the ability to use Mastercard’s Crypto Credential system, a way to ensure transactions are safe and regulatory-compliant.
- On the other hand, Mastercard will have access to Moonpay’s Web3 portfolio, including minting to ETHpass.
- It will allow the payment giant to work with Otherlife. Otherlife is Moonpay’s subsidiary which provides Web3 service.
- Mastercard has been in the crypto industry for a while and has partnerships with Coinbase, Circle, Paxos, and others. One of its products is CipherTrace, a tool that helps banks, governments, exchanges, and virtual assets service providers comply with regulations, and assess the movement and risk of crypto funds.
Bitfinex Securities Offers Tokenized Bonds
- Bitfinex Securities has announced its first tokenized bond called ALT2611, which will be listed in November.
- The bond is a 36-month, 10% coupon bond denominated in Tether (USDT) and issued by Mikro Kapital, a global leader in microfinance.
- Entry is at 100 USDT per token and a minimum investment of 125.000 USDT.
- Bitfinex Securities said the tokenized bond ALT2611 would acquire risks associated with the debt and equity of microfinance organizations, small financial institutions, leasing companies, and banks in Italy, Romania, Moldova, and other developing nations along the Silk Road.
- The bond is subject to Luxembourg’s jurisdiction.
- Bonds are issued by governments and corporations to raise money. By buying bonds, an investor is loaning money to the issuer, who agrees to pay back the loan value on a specific date. Periodic interest is also paid to the buyer.
Can Altcoins’ Top 3 Reach $100? A Prediction for XRP
- Steven Nerayoff, an attorney, blockchain expert, and former Ethereum adviser believes that Ripple’s XRP has no price ceiling.
- His prediction came as a response to an X (Twitter) post, that asked if XRP has a future, specifically if the price can reach above $10 or even $100.
- Nerayoff’s answer is dependent on Ripple’s success in its goals of making cross-border payments faster, cheaper, and more efficient.
- However, he thinks that a lower XRP price would make Ripple’s service more appealing to customers because they would need less XRP to send or receive money across borders.
- He also thinks that Ripple has an advantage because of the network effects model, herein the more people use the network, the more valuable and useful it becomes.
- Nerayoff’s also compares this to the US dollar, which is the most widely used currency in the world. Its value is based on how much it is needed by entities for global transactions.
- XRP has a maximum supply of 100,000,000,000. If it reaches $100, then its market cap will reach $10 trillion – which is about 9 to 10 times the current market value of the whole crypto industry.
- XRP is currently the 3rd largest Altcoin behind ETH and BNB.
Gaming Altcoins Affected by France’s Soare Law
- France’s proposed Sorare Law is a new regulatory framework for blockchain and crypto-related games in the country.
- It aims to distinguish these games from gambling laws.
- It affects games that contain crypto and NFTs.
- The law introduces the” Jonum Regime”, which refers to games featuring monetizable digital assets
- The Sorare law requires users to declare their age and verify their identity when withdrawing funds
- It also prohibits the use of influencers to promote Web3 games on platforms that do not restrict minors.
- The Autorité Nationale des Jeux (ANJ), the French National Gambling Authority, will be the assigned regulatory agency to handle the law’s implementation.
- The law is not yet final and still needs to be approved by the Constitutional Council.
- Sorare is a popular blockchain-based fantasy soccer game that uses NFT and Crypto. The game is a prime example of Jonum.
As promised, we have summarized the latest altcoins news for you. We hope that you can join us again next week.
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