Daily Digest - 23 June 2023

Headlines

▌TrueUSD: All user funds in TUSD are still safe, not affected by Prime Trust’s suspension of deposits

The US dollar stablecoin TrueUSD officially posted on social media that Prime Trust has suspended all fiat and digital asset deposits. TUSD is not affected by this situation. TrueUSD has no exposure to Prime Trust and maintains multiple conduits for minting and redeeming USD. Please rest assured that all user funds in TUSD are safe. We remain committed to taking proactive steps to protect our users' funds and maintain our role as a trusted and reliable partner in the crypto space.

Blockchain Application

▌Shanghai released the action plan for the new track of the cultural tourism metaverse, striving to break through 50 billion yuan in industrial scale by 2025

It was stated from the Shanghai Bureau of Culture and Tourism that the "Shanghai City Action Plan for Building a New Track for Cultural Tourism Metaverse (2023-2025)" has been officially released. By 2025, the brand of "Cultural Tourism Metaverse" in Shanghai will be initially launched, the industrial scale will exceed 50 billion yuan, and 2-3 new content creation industry agglomeration development zones will be formed. Fang Shizhong, secretary of the party group and director of the Shanghai Municipal Bureau of Culture and Tourism, said that with the above-mentioned action plan as a strategic guide, Shanghai will fully open the new track of the cultural tourism metaverse, start the implementation of new infrastructure for digital cultural tourism, new breakthroughs in technological tools, and cultural tourism metaverse. The five special actions include new scenes, new tracks of digital artworks, and immersive and interactive new content.

Cryptocurrency

▌Valkyrie once again submitted a bitcoin spot ETF application to the US SEC

Cryptocurrency fund company Valkyrie submitted an S-1 registration form for a bitcoin spot ETF to the US Securities and Exchange Commission. In it, the firm said it would seek to list its fund on Nasdaq under the symbol BRRR.

▌Ripple has received approval-in-principle from the Monetary Authority of Singapore for its application for a major payment institution license

Ripple has received in-principle approval from the Monetary Authority of Singapore for its application for a major payment institution license. This will see Ripple Markets APAC Pte Ltd (Ripple's business arm in Singapore) offer regulated digital payment token products and services in Singapore. Ripple said in a statement that the approval will also allow Ripple to further expand customers’ use of its crypto-enabled on-demand liquidity service. Ripple CEO Brad Garlinghouse said Singapore continues to lead the world in establishing clear rules of the road to recognise the innovation and real-world utility of digital assets and their benefits to the global financial system.

▌Mastercard focuses on cryptocurrencies in “Engage”programme

MasterCard announced the expansion of the Engage programme, which connects potential card issuers with partners who can provide the appropriate technical expertise to help bring the cryptocurrency card programme to the market, allowing more and more cryptocurrency companies to be able to leverage the credit card giant's global network for distribution. Mastercard said the expanded network will help bring new crypto card programmes to the market and create crypto-to-fiat conversion functionality.