Blockchainreporter Weekly News Review: Crypto Innovations and Flourishing Partnerships

This week, we have brought six different pieces of news from various sources for our readers. The cryptocurrency world saw major advances in various fields. This week showcased notable developments in the cryptocurrency space, from institutional advancements to rebranding initiatives and lunar missions. BlackRock, a major asset manager, is exploring cryptocurrency potential. In addition to its Bitcoin ETF, they are pursuing regulatory approval for an Ethereum ETF. Another notable collaboration involves OKX, Komainu, and CoinShares to reconfigure institutional crypto trading by mitigating counterparty risk. As they build virtual asset listing criteria, handle user experience issues, and ensure transparency, the Korean financial authorities are attracting attention. Ankr and Optimism just launched “Rollup as a Service,” a fast and flexible OP Chain development solution. Additionally, the Dogecoin community has partnered with Astrobotic to send a physical Dogecoin to the moon on December 23, 2023. Finally, Viction, formerly TOMO, is rebranding and partnering with Binance to replace TOMO with VIC.

BlackRock Aims for Ethereum ETF Approval Amid Bitcoin ETF Endeavors

Asset management giant BlackRock is seeking regulatory approval for an Ethereum-based Exchange Traded Fund (ETF). This coincides with their efforts to create a Bitcoin ETF. The company has submitted an S-1 application with the SEC to launch a spot Ethereum Exchange-Traded Fund (ETF), indicating a cryptocurrency sector demand boom.

The S-1 filing provides investors with detailed information on the exchange-traded fund’s (ETF) strategy and risks, providing transparency. BlackRock’s “iShares Ethereum Trust,” a Delaware statutory trust, replicates Ethereum’s market performance. This offering gives investors a new way to invest in this popular digital asset. The ETF’s launch is subject to SEC approval, demonstrating BlackRock’s growing position in the cryptocurrency business. The paper also shows cooperation with Coinbase, a major cryptocurrency exchange, to secure the ETF’s Ethereum holdings.

OKX Teams Up with Komainu and CoinShares for Institutional Crypto Trading Transformation

OKX, a major cryptocurrency exchange, has partnered with Komainu, a licensed digital asset custody provider, and CoinShares, a European alternative asset management organization. This strategic collaboration aims to transform institutional crypto trading. Implementing counterparty risk mitigation strategies will provide a safer trading environment. The coalition also wants institutional investors to use cryptocurrency more.

CoinShares gains trading credentials on OKX, a popular cryptocurrency exchange, while Komainu protects crypto fund assets with segregated accounts. The agreement connects institutional traders to reliable, high-quality trading platforms, reducing counterparty risks. Strong frameworks that meet industry standards for custody, settlement, and liquidity outline rights, duties, and conflict resolution. This arrangement lets traders easily access OKX’s popular markets while protecting their assets with Komainu’s regulated custodianship. The project benefits institutional clients due to its risk management expertise.

Korean Financial Authorities Develop Virtual Asset Listing Standards

Korean financial authorities and industry professionals are developing virtual asset listing standards for release in the first half of the year. Public and private sector representatives, external professionals, and financial authorities make up the Financial Supervisory Service (FSS) task group. This task force is discussing virtual asset listings like Bitcoin and Ethereum, management, and delisting standards. This effort addresses user experience concerns and ambiguity caused by rapid virtual asset addition and deletion.

The work group’s main goal is to present its findings to the National Assembly before July’s approval of the Act on the Protection of Users of Most Assets. The project emphasizes the need to strengthen financial institution strategy and self-regulation. These policies aim to address concerns like Wemix, where conflicts occurred about withdrawing and reinstalling coins in the market.

Ankr and Optimism Unveil ‘Rollup as a Service’ for Quick Custom OP Chain Creation

Ankr and Optimism introduced “Rollup as a Service” at the Onchain Summit in Istanbul on November 14. This solution uses Superchain technology and governance to help organizations and developers create custom OP Chains quickly. Ankr will provide engineering and infrastructure to accomplish this revolutionary service.

To build self-governing Layer 2 (L2) solutions for apps or project traffic, Ankr’s Rollup as a Service uses the OP Stack. Ankr becomes an authorized implementation collaborator with Optimism, making OP Chains a realistic choice for prospective clients. Ankr Head of Product Josh Neuroth noted the improved scalability and integration of novel Layer 2 solutions for corporate organizations and dApps. Neuroth considers this collaboration a major step forward in industry commitments and use case development. Tess Rinearson, Head of Product at Optimism, expressed her pleasure in working with Ankr to ease developer and user onboarding, enabling Superchain ecosystem integration. Rinearson praised Ankr for providing Optimism with node infrastructure and being reliable. The cooperation to create a high-quality Rollup as a Service supports their goal.

Dogecoin Teams Up with Astrobotic for Historic Moon Mission

The Dogecoin (DOGE) community announced their plan to work with Astrobotic to deliver a DOGE to the moon. This innovation is remarkable. DHL Moonbox and ULA’s Vulcan Centaur Rocket will aid the December 23, 2023, historic voyage. This initiative began with a 2015 Dogecoin fundraising effort. Astrobotic, an employee-owned spacecraft system developer, is a major player in space exploration.

The company’s lunar landers and rovers provide global space access. Astrobotic’s advanced navigation, operating, and testing technology support Dogecoin’s lunar launch. The DHL Moonbox, which transmits Dogecoin, symbolizes the cryptocurrency community’s creativity and cooperation.