"Maker's vote confirmed Sygnum as a 'crypto-native' bank…It is proof that traditional-crypto finance industry investments can flow both ways and that the future has heritage, especially when shaping next-generation finance," Martin Burgherr, Sygnum Bank's chief client officer said in a statement.
IShares is a collection of exchange-traded funds (ETFs), which were acquired from Barclays in 2009. The first phase of the treasury diversification will start by working with BlackRock Switzerland to allocate and invest $250m into a portfolio consisting of BlackRock's iShares ETFs. In a community-driven vote, 72 per cent of respondents elected Sygnum to take charge of the $500m diversification task.
To boost MakerDAO's balance sheet, a "new strategy" was required according to Sygnum's statement, in which a $500m diversification in to traditional assets was requested. Sygnum's involvement with MakerDAO and DAi comes down to the stablecoin issuers' lack of yield-bearing USDC present in its $10.5bn collateral pool.
In October 2021 French Bank Société Générale proposed to borrow DAI in MakerDAO using bonds issued on the Ethereum blockchain as collateral, allowing DAi to diversify its collateral away from crypto. Financial IYF 0.48 Yes NYSE Barclays iShares Dow. Rune: we should seriously consider depegging from usd /HBMrPH7LrW Ticker Symbol Expense Ratio Options Exchange Inception Date Fund Family iShares Dow Jones U.S. In both the EU and US, algorithmic stablecoins like terraUSD are expected to be fully banned, with stablecoins holding reserves in fiat currency and backed on a one-to-one basis most probably the only types of stablecoins allowed to operate in both jurisdictions.īased on reserve requirements only, stablecoins like Circle's USDC and Binance's BUSD could potentially operate in the US and EU, but market leader Tether (USDT) and DAI could not.ĭespite MakerDAO's founder Rune Christensen claiming "we should seriously consider depegging from USD", recent activity at MakerDAO and DAI suggests their 'crypto only' sentiment is waning. Since the collapse of terraUSD, which lost $40bn and went bankrupt in the space of a fortnight – consequently causing $600bn in losses across the crypto industry – regulators have rushed to bring stablecoins under their remit. However, under the newly accepted markets in crypto assets (MiCA) laws passed by the European Council yesterday - or any of the stablecoin bills proposed to Congress in the US - DAI would not meet any of the regulatory reserve requirements. Barclays share price at the end of the month 121, the change for October -24.8. Barclays share price forecast for October 2022. "This portfolio diversification tangibly demonstrates the innovation and real-world benefits traditional assets are bringing to the DeFi-enabled finance revolution," said Rajiv Sainani, MakerDAO Europe growth lead said in a statement published on Sygnum's website. Barclays Share Price Forecast For 2022, 20. DAI is collateralised by 18 different cryptocurrencies, including ETH, USDC and USDT to name but a few and is the fourth largest stablecoin by market capitalisation ($6.3bn), data from CoinGecko suggests. MakerDAO, the company behind the DAI stablecoin, is looking to change the reserve composition of DAI. On May 1, Barclays Canada will be adopting the global iShares brand identity and launching a new website at the world's first digital asset bank has been selected by decentralised crypto lender Maker DAO as the lead partner in the firm's half a billion treasury diversification into traditional assets, according to a statement. “With over 125 iShares Funds worldwide, we felt it was a good time for global alignment to further build on the momentum of our growing Canadian ETF family.”Īlthough the individual fund names will change, the respective ticker symbols will remain the same. “Effectively, we are leveraging the phenomenal success of the global iShares ETF business,” said Rajiv Silgardo, CEO for Barclays Canada. Ynitholders of iShares funds will continue to hold units of a trust and not shares of a corporation.Ī revised prospectus reflecting the name change to iShares will be filed and once the prospectus has been approved by the securities regulators, Barclays Canada will undertake all future Canadian ETF business activity using the iShares name. Despite the name change, the funds continue to be organized as trusts. The change is designed to leverage the strength of the iShares product line around the world,īarclays Canada received regulatory approval to permit the name change to iShares in November 2005. has announced plans to change the name of its Toronto Stock Exchange-listed family of exchange-traded funds to iShares from iUnits, aligning its ETF brand identity with its global counterparts.
0 kommentar(er)
