Monday🌕Motivation: Your Web3 Roundup—Kraken's New Derivatives, Citi & Fidelity's Forex Innovation, Epoch Summit Highlights, and Trump's Crypto Surge!
1. Kraken unveils derivatives for Australian wholesale clients after regulatory hurdles.
2. Citi and Fidelity showcase on-chain proof-of-concept for real-time Forex swaps.
3. Crypto leaders gather in Seoul and Singapore for the Epoch Summit.
4. Trump-based cryptocurrencies surge over 100% as election day approaches.
Catch even more insights below!👇
Happy Monday! As we kick off the week, let's explore the latest developments shaping the Web3 landscape. From innovative derivatives launched by Kraken to groundbreaking on-chain concepts introduced by financial giants Citi and Fidelity, the momentum in the crypto space continues to build. Meanwhile, industry leaders are converging at the Epoch Summit in Asia, sharing insights and strategies for the future of blockchain technology. And in the realm of political finance, Trump-themed cryptocurrencies are experiencing a dramatic surge ahead of the upcoming election. Let’s dive into these exciting highlights and more!
1. Kraken unveils derivatives for Australian wholesale clients after regulatory hurdles.
Kraken has introduced a new range of crypto derivatives for Australian wholesale clients, addressing regulatory standards after recent legal challenges. Designed for institutional investors, the products provide exposure to crypto price movements through futures without holding the underlying assets. The offering includes multi-collateral support—covering fiat, stablecoins, and crypto—secured in Kraken’s highly robust custodial system for over 200 assets. This move follows a court ruling against Kraken’s domestic operator, Bit Trade Pty Ltd, highlighting the need for compliant crypto solutions. Kraken aims to meet the growing demand from institutional clients for secure, regulated trading in the evolving Australian market.
Ruholamin Haqshanas
2. Citi and Fidelity showcase on-chain proof-of-concept for real-time Forex swaps.
Citi and Fidelity have collaborated on a proof-of-concept for a digital foreign exchange swap integrated into an onchain money-market fund, set to debut at the Singapore Fintech Festival from November 6-8. This innovation aims to enable real-time settlement of multi-asset positions, offering investors faster access to higher yields and diversified opportunities in foreign cash funds. Developed under the Monetary Authority of Singapore's Project Guardian, the concept highlights the potential of tokenization—converting traditional financial assets into digital formats—to streamline global financial markets. This could revolutionize trade efficiency, allowing transactions across different currencies to settle instantly rather than over several days.
Jamie Crawley
3. Crypto leaders gather in Seoul and Singapore for the Epoch Summit.
Epoch Summit gathered blockchain innovators across Seoul and Singapore, featuring top voices from Worldcoin, Lido, and Uniswap. The conference focused on the future of blockchain infrastructure, from scaling Layer 1 networks to privacy advancements using secure multi-party computation. A41 CEO John Park emphasized envisioning a future with less reliance on governments and corporations. Talks explored zero-knowledge technology, account abstraction, and the ongoing challenge of latency in decentralized exchanges. BitMEX co-founder Arthur Hayes highlighted the arbitrage opportunities between CEXs and DEXs. Organizers are aiming for a more technically focused event next year to deepen discussions and understanding of blockchain advancements.
Decrypt Staff
4. Trump-based cryptocurrencies surge over 100% as election day approaches.
Political meme coins themed around Donald Trump are seeing a massive surge ahead of the U.S. election, with some tokens, like DJT and Pepe (TRUMP), gaining over 120% in the past 24 hours. The PolitFi market cap has now reached $685 million, reflecting election-driven hype. Even Kamabla, a meme coin inspired by Vice President Kamala Harris, spiked 32.7%. Despite fluctuating odds for Trump’s re-election, these tokens are rallying on promises like establishing a U.S. Bitcoin reserve. Analysts say this trend is fueled by political excitement but note these coins may stabilize only if they gain actual utility in the future.
Rony Roy
As the Web3 landscape continues to evolve, the developments we've explored today showcase both the innovation and volatility inherent in the crypto space. With Kraken's new derivatives offering and Citi and Fidelity pushing the boundaries of on-chain finance, the future looks promising for institutional engagement in crypto. The Epoch Summit serves as a vital gathering for thought leaders, while the surge in Trump-themed cryptocurrencies highlights the intersection of politics and digital assets. Stay tuned for more updates as we navigate this dynamic environment.
