Deutsche Bank Partners with Taurus for Cryptocurrency Custody Services
Deutsche Bank has joined forces with Swiss cryptocurrency firm Taurus to offer custody services for institutional clients’ digital currencies and tokenized assets. This partnership allows the bank to hold a limited number of digital currencies and tokenized versions of traditional financial assets for its clients, marking its first foray into this space. Paul Maley, Deutsche Bank’s worldwide 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 (BTC) lender Delio is reportedly preparing an administrative lawsuit against the Financial Service Committee (FSC). Delio argues that the regulator’s states 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 states 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 corporations, 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 A.I. capabilities across numerous areas such as strategy, transactions, transformation, risk, assurance, and tax. The platform is supported by EY’s investments of $1.4 Billion and integrates A.I. 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 concentrates 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 Economical Web 3.0 Infrastructure
Blockchain development platform Alchemy has introduced Scale Tier, an economical full-stack infrastructure for Web 3.0 developers. Scale Tier intends to alleviate the expense burden faced by developer teams by offering the cheapest Web 3.0 infrastructure solution on the market. It includes self-serve and straightforward pricing alternatives, allowing developers to choose between monthly or yearly payments with a 30% discount for annual plans.
Cosmose A.I. Launches KAIKAINOW for Personalized Experience
Cosmose A.I., 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 bonus 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 Cryptocurrency and A.I. for Enhanced Financial Services
The partnership between Deutsche Bank and Taurus outlines the growing importance of digital currencies 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. In addition, EY’s launch of EY.ai demonstrates how A.I. is being integrated into numerous aspects of financial services to strengthen 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.
Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension.