The Crypto Round-Up: September 1st, 2021

Morgan Stanley Holds More Than 1 million Shares in GBTC

A multinational investment bank, Morgan Stanley, holds shares in Grayscale Bitcoin Trust. According to the SEC filings, Morgan Stanley Insight Funds owns over 928,051 GBTC, worth $36 million in Grayscale Bitcoin Trust. With institutions like this jumping into huge crypto investments, it will be no surprise that other major institutions will eventually follow. Read more

Cuba To Recognize and Regulate Cryptocurrencies

The announcement of having bitcoin as legal tender in El Salvador had been all around the news. The crypto community has been waiting for the next country to step up and embrace cryptocurrency. Cuba, a North American country, has taken consideration of recognizing and regulating cryptocurrencies for payments. A resolution published in Official Gazette stated that the rules for this currency and the process of licensing the service providers in Cuba will be set by the Central Bank. Read more

Microsoft Awarded U.S Patent for the Software of Crypto Token Creation

Microsoft was awarded a U.S Patent for software to help users develop blockchain applications. This will make the creation of crypto tokens easier and more efficient. Creating and managing tokens are “difficult and cumbersome” because of the lack of standardization across the blockchain. The system is useful for the developers to not worry about token-specific code to interact with. Read more

Central Bank of Nigeria Partners with Fintech Firm Bitt Inc for CBDC Rollout

Nigeria has finally taken action on its CBDC. The Central Bank of Nigeria (CBN) partnered with BItt Inc for the rollout of its e-naira digital currency. Bitt Inc has been chosen based on “technological competence, efficiency, platform security, interoperability, and implementation experience,” according to CBN. The fintech’s experience in the Eastern Caribbean Central Bank’s currency’s development is considered in the selection. Read more

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