What Happened in Crypto Today?
Stay updated with the latest developments in the world of cryptocurrency. From blockchain advancements to Bitcoin’s evolving role, here’s everything you need to know about today’s trends and events shaping the crypto industry.
London Stock Exchange Introduces Blockchain for Private Funds
The London Stock Exchange Group (LSEG) made headlines by launching its blockchain-based infrastructure platform, Digital Markets Infrastructure (DMI). This marks the first initiative by a global exchange leveraging blockchain technology for private funds. Developed in collaboration with Microsoft, the platform is powered by Microsoft Azure, offering seamless interoperability between distributed ledger technology and traditional financial systems.
With this platform, private funds become the first asset class to benefit from blockchain-enabled services, covering the full lifecycle of digital assets—from issuance to post-trade settlement. Prominent early adopters include MembersCap and Archax, a UK-based, FCA-regulated crypto exchange. Together, they conducted the platform’s inaugural transaction, showcasing its potential.
Thailand Banks Freeze Millions of Accounts Amid Scam Investigation
In a significant crackdown, Thai banks have frozen over 3 million accounts suspected of being linked to criminal activities known as “money mule” scams. Unfortunately, some businesses and innocent individuals also found their accounts frozen. The Bank of Thailand has additionally imposed daily transfer limits on all customers to combat these scams, sparking mixed reactions from the public.
Bitcoin advocates seized this moment to highlight the decentralization of cryptocurrency. Investor Daniel Batten referred to the incident as “free Bitcoin marketing,” while others emphasized how Bitcoin remains immune to centralized freezes and restrictions. However, it’s worth noting that cryptocurrency payments are banned in Thailand despite its popularity as a trading asset.
Stablecoin Developments: USDH Token Launch
Native Markets, a blockchain company, emerged victorious in the race to issue a new stablecoin called USDH. The USDH stablecoin, pegged to the U.S. dollar, was a hot topic during a bidding war that engaged the crypto community. Native Markets plans to debut an Ethereum-based USDH ERC-20 token alongside Hyperliquid Improvement Proposals (HIPs), aiming to shape the future of stablecoins.
However, this development has garnered mixed reactions. While some praise the new use cases, others question the trajectory of the stablecoin industry, calling for more scrutiny on how exchanges handle tokens.
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Why Crypto Remains a Hot Topic
With global institutions, like the London Stock Exchange, embracing blockchain, and stablecoins gaining traction, cryptocurrency continues to push boundaries. Events like the Thai scams have only amplified the conversation around decentralization and security. Stay tuned for more updates as this dynamic field evolves towards a decentralized and secure future.
