Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
Several big banks have announced today they are partnering with Marketnode for the Q4 of 2021. Citi, Barclays, BNP Paribas, BNY Mellon, HSBC, UOB, and Standard Chartered. Essentially, the banks are one the first adopters of the program.
A Formidable Partnership
Marketnode will co-create end-to-end DLT solutions and provide input for the development of the program. In addition, it will explore the expansion of the product beyond fixed income. DLT is a Distributed Ledger Technology digital system. This records the details of asset transactions in multiple places at the same time.
The joint solution will focus on ESG bond reporting and a depositary infrastructure. It will also highlight fixed digital income issuance, including streamlining documentation. Last year, HSBC collaborated with this platform to issue a syndicated public bond for agribusiness Olam. It used SGX’s digital asset issuance servicing platform and depository to issue bonds over $1 billion.
Lee Beng Hong, the head of fixed income, currencies, and commodities at SGX, said:
We continue to embrace the paradigm shift that the financial industry is undergoing with the emergence of new technologies. By collaborating with banking and technology partners, we are creating network effects and building scale and capability that can be applied cross-assets within a single platform for the benefit of banks, issuers, and investors.
He also said that they are inviting all participants in the market to join Marketnode. This will accelerate the digital transformation of capital markets. He adds that the joint venture is looking to explore other emerging asset classes. That has seen a growing demand in the market.
More Collaborations Coming for Marketnode
Marketnode is planning to add more collaborations to its existing partnership with Capital Covalent. It will be expanding its technology partners to include SETL, the UK- based blockchain platform. They will also have RootAnt Global, a Singapore fintech company. In addition, it will help to develop its multi-asset and fixed income end-to-end infrastructure.
Root has Japan SBI owning 48% of its shares. Also, it has a blockchain finance solution that uses R3’s enterprise blockchain Corda. Lastly, SETL is famous for developing the fund distribution platform IZNES.
These capabilities of these two companies will help this digital asset venture expand its services. That will come with the launch of digital bond straight, through processing and auto-ISIN generated by Marketnode and Covalent Capital.