The crypto landscape is painting a picture of optimism and positive momentum. The Nasdaq Crypto Index (NCI) boasted an impressive 10.1% gain for the week with bitcoin (BTC) surging past $44,000, hitting a milestone not seen since April 2022, and ether (ETH) hitting a high not seen since May 2022.
Brazilian lender Itau launches crypto trading
Itaú, Brazil's oldest and largest bank, has become the first of its kind in the country to offer BTC and ETH trading through its íon investment platform. Bitcoin trading will gradually roll out on íon, with potential inclusion of other altcoins pending regulatory clarity. Itaú will manage customers' crypto custody, restricting transactions to the íon platform initially. This initiative reflects the bank's commitment to financial education and security in the evolving crypto landscape.
Société Générale to become first big bank to list a stablecoin
Société Générale has launched its stablecoin, EUR CoinVertible on Bitstamp, entering the $130 billion stablecoin market. The euro-backed stablecoin aims to provide a compliant and diversified option in a landscape dominated by USD alternatives. This move is relevant for crypto investors as it introduces a euro-denominated stablecoin with broad trading availability, reducing exposure risk. Société Générale's commitment to compliance, financial innovation, and potential further integration of stablecoins into traditional markets makes it a noteworthy player in the evolving crypto space.
IBM introduces new cold storage tech for crypto assets
IBM has introduced Hyper Protect Offline Signing Orchestrator (OSO), a cryptographic signing technology designed for secure management of digital assets in cold storage. This innovative solution enhances the security of high-value transactions by implementing additional protective layers, such as disconnected network operations, time-based security measures, and the inclusion of electronic transaction approval from multiple stakeholders. The move underscores IBM's commitment to advancing solutions for safeguarding digital assets in a comprehensive and sophisticated manner.
This material expresses Hashdex Asset Management Ltd. and its subsidiaries and affiliates (“Hashdex”)'s opinion for informational purposes only and does not consider the investment objectives, financial situation or individual needs of one or a particular group of investors. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing their funds. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction. No part of this material may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Hashdex. By receiving or reviewing this material, you agree that this material is confidential intellectual property of Hashdex and that you will not directly or indirectly copy, modify, recast, publish or redistribute this material and the information therein, in whole or in part, or otherwise make any commercial use of this material without Hashdex’s prior written consent.
Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicles will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex s investment methodology or that investing any of the protocols or tokens listed in the Information may be considered “conservative,” “safe,” “risk free,” or “risk averse.”
Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex, and Hashdex does not assume responsibility for the accuracy of such information. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” “believe” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or digital tokens may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission or any other governmental or self-regulatory authority. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.