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Bitcoin surges, SocGen’s stablecoin, and Brazil’s largest bank goes crypto

The Hash Insider

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.

 

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