Weekly Blockchain News, October 25, 2021

Welcome back in the weekly summary of leading developments in the crypto/blockchain space, presented from Billon's point of view. Check what happened in the last days when it comes to CBDC and other enterprise uses of blockchain. Enjoy the read!

Bitcoin hits all-time high above $66K on strength of ProShares ETF debut.  The largest cryptocurrency appears to have gotten a push last Tuesday from the launch of the ProShares Bitcoin Strategy ETF, the first exchange-traded fund approved by the U.S. Securities and Exchange Commission to invest in bitcoin futures.

Tron partnering with Sony Interactive Entertainment to enhance blockchain gaming experience. Tron, one of the largest blockchain-based operating systems in the world, is announcing an upcoming partnership with Sony Interactive Entertainment. Tron will provide the gaming company with its blockchain and expertise to enable in-game purchases, trading of in-game items and facilitate fast, cross-border payments on top of the Tron infrastructure.

France trials CBDC, blockchain for government bond deals.  France’s central bank has executed a series of bond transactions leveraging blockchain using its own digital currency as part of a 10-month pilot. The Banque de France, along with a group of France’s largest financial market participants, executed the transactions using a system developed by U.S.-based IBM, according to a statement from securities depository Euroclear.
 

Fintech firm N26 is now worth more than Commerzbank. Berlin-based fintech has raised $900 million in a new funding round led by Third Point and Coatue. The round values the eight-year-old start-up at $9 billion, higher than the market cap of Commerzbank, Germany’s second-biggest listed bank.

Worldcoin launches a global cryptocurrency that will be given to every person on earth.  This new crypto project has raised $25 million at a $1 billion valuation. Coming out of stealth, the company is unveiling hardware device, dubbed an Orb, for the first time, along with testing data that suggests it could onboard its first billion people into crypto within the next two years.

Estonia considers revoking crypto licenses as government mulls tougher regulations.  Authorities in Estonia are working on new legislation expected to stiffen the rules for the country’s cryptocurrency sector. The Baltic nation’s regulator for the industry is considering whether to revoke previously issued crypto licenses and restart authorization from scratch.

McDonald's reportedly pressured to adopt China's CBDC ahead of Winter Olympics. China is reportedly pressuring McDonald’s to accept its central bank digital currency, according to a recent report by the Financial Times that cites people familiar with the matter. The fast food giant has already started testing the digital renminbi in Shanghai. However, the Chinese government wants McDonald’s to make it possible to pay with the CBDC at all of its locations throughout the country ahead of the Winter Olympics in Beijing that will kick off in early February.

And that's it for now. See you next week!