Deutsche Bank Partners with Taurus for Crypto Custody Services
Deutsche Bank has joined forces with Swiss crypto firm Taurus to offer custody services for institutional clients’ cryptocurrencies and tokenized assets. This partnership allows the bank to hold a limited number of cryptocurrencies and tokenized versions of traditional financial assets for its clients, marking its first foray into this space. Paul Maley, Deutsche Bank’s global head of securities services, believes that as the digital asset space continues to grow, it will become a priority for investors and corporations alike.
Delio Prepares Lawsuit Against South Korean Regulator
South Korean bitcoin lender Delio is reportedly preparing an administrative lawsuit against the Financial Service Committee (FSC). Delio argues that the regulator’s allegations of fraud and embezzlement are baseless and that the law was applied unreasonably due to a lack of clear regulations for virtual asset deposit and management products. The company claims that it ended up paying a large fine as a result.
EY Launches AI-Powered Platform
Ernst & Young (EY), one of the ‘Big Four’ accounting firms, has unveiled EY.ai, an artificial intelligence (AI)-powered platform for its clients. Developed over 18 months, EY.ai is a unifying platform that leverages EY technology platforms and AI capabilities across various areas such as strategy, transactions, transformation, risk, assurance, and tax. The platform is supported by EY’s investments of $1.4 billion and integrates AI into proprietary EY technologies like EY Fabric.
Mauve Unveils Non-Custodial AMM Protocol
Mauve, a decentralized exchange (DEX) and Uniswap V3 fork, has officially launched as a non-custodial automated market maker (AMM) protocol. The exchange focuses on real-world assets (RWA) and is fully anti-money laundering (AML)-compliant, operating as a Virtual Asset Service Provider License (VASP) approved by the Cayman Islands Monetary Authority.
Alchemy Introduces Affordable Web3 Infrastructure
Blockchain development platform Alchemy has introduced Scale Tier, an affordable full-stack infrastructure for web3 developers. Scale Tier aims to alleviate the cost burden faced by developer teams by offering the cheapest web3 infrastructure solution on the market. It includes self-serve and straightforward pricing options, allowing developers to choose between monthly or yearly payments with a 30% discount for annual plans.
Cosmose AI Launches KAIKAINOW for Personalized Experience
Cosmose AI, an AI-driven retail analytics firm, has launched KAIKAINOW, a platform that provides smartphone users with personalized learning, news consumption, and entertainment experiences. Through KAI-CHING, shoppers can earn rewards in KAIC tokens and use them for offline or online shopping based on available offers. KAIKAINOW, KAIKAI, and KAI-CHING are built on the NEAR Protocol.
Hot Take: Embracing Crypto and AI for Enhanced Financial Services
The partnership between Deutsche Bank and Taurus highlights the growing importance of cryptocurrencies and tokenized assets in the financial industry. As institutional clients seek exposure to digital assets, banks are recognizing the need to offer custody services to meet this demand. Additionally, EY’s launch of EY.ai demonstrates how AI is being integrated into various aspects of financial services to enhance efficiency and deliver value to clients. These developments reflect the ongoing transformation in the industry as it embraces new technologies to stay competitive and cater to evolving customer preferences.
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