EDX, Massive User Base – Issue 3

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Adoption Briefing!

DigiFT completed redemption of the first regulatory-compliant corporate note security token

Singapore – September 12th, 2022 – DigiFT, which aims to provide regulated decentralized finance solutions on the Ethereum public blockchain, has successfully completed the issuance, secondary trading, and redemption of a corporate note security token on its Decentralized Exchange (”DEX”). To commemorate the completion of DigiFT’s inaugural listing, 100 NFTs will be minted and air-dropped to partners and various stakeholders.

The one-month note issued by Diners Club (Singapore) Private Limited (“DCS”) was fully subscribed at its initial offering on August 1st, 2022. Investors were able to trade the security token on DigiFT Security Token Exchange more easily with 80% of the transactions completed through the Automatic Market Maker (“AMM”) mechanism. Unlike a traditional exchange that relies on active market makers to complete a buy or sell order, AMM facilitates secondary market trading via smart contract liquidity pools.

Digital Asset Exchange EDX

NEW YORK–(BUSINESS WIRE)–A consortium of leading broker-dealers, global market makers and venture capital firms today announced the launch of EDX Markets (EDXM), a first-of-its-kind exchange that will address latent demand for digital asset trading by enabling safe and compliant trading of digital assets through trusted intermediaries. The new exchange will combine proven technology provided by MEMX with best practices from traditional financial markets and tighter spreads enabled by greater liquidity, to support secure, fast and efficient cryptocurrency trading for U.S. retail and institutional investors.

EDXM will enable a highly liquid cryptocurrency ecosystem that aggregates liquidity from multiple market makers to reduce spreads and improve transparency. This commitment to price discovery and efficiency is expected to result in better prices for investors than those offered by existing cryptocurrency exchanges. EDXM operates as a fully independent entity backed by financial industry leaders including Charles Schwab, Citadel Securities, Fidelity Digital Assets℠, Paradigm, Sequoia Capital and Virtu Financial. Additional market participants are expected to partner with EDXM over time.

Paradigm, Sequoia Capital Invest $1.15B in Citadel Securities

A $22 Billion Valuation

One of the most prolific crypto and Web3 investors, Paradigm, has diversified into the world of traditional finance. 

Today, Citadel Securities announced that it had secured a total $1.15 billion investment from the crypto and Web3 investment firm Paradigm and venture capital firm Sequoia Capital. This investment represents the prolific market maker’s first outside investment, and the minority stake sold by Citadel Securities valued the firm at approximately $22 billion. 

Bitcoin Lightning Network growth capacity plateaus at 3,400 BTC

Following an exponential climb in capacity over 2022, the Bitcoin Lightning Network made a lackluster start to the new year. According to a report by Arcane Research, growth in the Lightning Network capacity, or the number of Bitcoin (BTC) locked up in channels, has stuttered. 

The Lightning Network surged from 1,000 to 3,000 BTC in just eight months in 2021, striking the 3,000-BTC mark in mid-October.

While the network continues to strike all-time highs, growth grinds down. The total BTC locked in the network is peaking just shy of the 3,500-BTC mark, sparking debate and discussion on social media. (cointelegraph)

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