China News by Thebittimes.Com

The Web3 Foundation, dedicated to the development of the Polkadot ecosystem, has announced a $1 million seed investment in tokenized treasury bills. In an X post on Nov. 29, 2023 the Web3 Foundation unveiled plans to put $1 million in tokenized U.S. treasury bills via Centrifuge, an institutional ecosystem for on-chain credit. With the investment, the foundation is said to become the first user of the real-world asset use-case supported and managed through the para-chain in a bit to digitize assets with blockchain technology. Web3 Foundation announces a $1M seed investment in tokenized treasury bills on @centrifuge. We’re thrilled to lead by example as the first user of the real-world asset use-case supported and managed through the parachain. https://t.co/dIXOLkfJRL — Web3 Foundation (@Web3foundation) November 29, 2023 Web3 Foundation Chief Executive Fabian Gompf said in a blog post that the industry of tokenized assets has “massive potential and are steadfast in ...

On Monday, November 20, the Philippines is set to make history by introducing its inaugural sale of tokenized treasury bonds , a significant move aimed at advancing the development of its domestic debt market. The Bureau of the Treasury has disclosed plans to present a minimum of 10 billion pesos ($179 million) worth of one-year tokenized bonds, leading to the cancellation of the initially scheduled regular bills auction on the same day, as reported by Bloomberg on November 16. The adoption of blockchain and tokenized securities for fundraising has gained traction in Asia, with Hong Kong successfully issuing HK$800 million in tokenized green bonds in February. These securities leverage distributed ledger technology (DLT), holding the promise of enhancing liquidity and transparency within debt markets. Additionally, HSBC Holdings announced earlier this month that it has successfully conducted test token deposits in intra-group treasury transactions using blockchain technology. ...

Real-world artifacts from the famous Titanic wreckage are set to be tokenized as NFTs through a new partnership using blockchain technology. Artifacts recovered from the wreckage of the Titanic are set to be tokenized using blockchain technology through a partnership driven by the company that acts as the steward of the sunken vessel. A three-way partnership involving RMS Titanic Inc. (RMST), Hong Kong-based Venture Smart Financial Holdings and Web3 firm Artifact Labs will begin tokenizing precious artifacts from the Titanic to unlock a myriad of Web3 functionalities. Select artifacts from the sunken Titanic will be preserved as nonfungible tokens (NFTs), which is aimed to open up shared ownership to the wider general public. RMST holds the exclusive rights to recover artifacts from the Titanic and its wider debris field from the bottom of the North Atlantic Ocean. Venture Sm Art Financial Holdings will be tasked with structuring the tokenization of intellectual property linked to th...