<h2>UBS Ventures Deeper Into Blockchain</h2>UBS, the world’s largest private bank, has taken a notable leap into blockchain technology by&nbsp;<a href="https://www.ubs.com/global/en/media/display-page-ndp/en-20241101-first-tokenized-investment-fund.html">launching</a> the "UBS USD Money Market Investment Fund Token" (uMINT) on the&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> network.&nbsp;The financial giant did not specify the exact composition of the fund but highlighted that it would grant investors exposure to "high-quality money market instruments based on a conservative, risk-managed framework." This launch underscores a growing trend among major financial institutions embracing blockchain for its transparency and efficiency.Thomas Kaegi, co-head of UBS’s Asian operations, noted an increasing appetite for tokenized assets across various asset classes.&nbsp;The launch follows a year after UBS’s pilot test of this tokenized fund. In October 2023, the bank conducted a controlled pilot through its proprietary tokenization platform, UBS Tokenize, executing activities like fund subscriptions and redemptions using Ethereum-based smart contracts.The use of Ethereum, the largest blockchain for real-world asset tokenization, places UBS at the forefront of financial innovation. According to RWA.xyz, over $3 billion in assets are tokenized on Ethereum, with the broader tokenized asset market valued at approximately $3.9 billion. U.S. Treasury Debt represents the largest portion of this on-chain asset class.&nbsp;The sector has seen growth of nearly 4% in the last month, showcasing a solid upward trend. Notable products in this sphere include BlackRock’s BUIDL, with a&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> exceeding $523 million, and&nbsp;<a href="https://coin360.com/news/franklin-templeton-base-fobxx">Franklin Templeton’s FOBXX</a> On-Chain U.S. Government Money Fund, which holds around $410 million in value.Prominent figures in the crypto space have voiced their thoughts on UBS’s move. The crypto show Mario Nawfal’s Roundtable stated, “This move is like putting&nbsp;<a href="https://coin360.com/coin/ethereum-eth">ETH</a> right into the heart of traditional finance.”&nbsp;<figure class="image"><img alt="tweet-1852494536502591491 (1)_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1852494536502591491_1_11zon_211545ac9a.jpg"><figcaption>Source: <a href="https://x.com/RoundtableSpace/status/1852494536502591491">Mario Nawfal’s Roundtable</a>/ X</figcaption></figure>The show further suggested that with major banks joining the trend, widespread adoption of tokenized assets could be on the horizon.&nbsp;Echoing this sentiment, crypto analyst Tony Edward commented that missing out on exposure to Ethereum might result in lost opportunities for potential gains.<figure class="image"><img alt="tweet-1852439648422818256_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1852439648422818256_11zon_1b02b53a7c.jpg"><figcaption>Source: <a href="https://x.com/ThinkingCrypto1/status/1852439648422818256">Tony Edward</a>/ X</figcaption></figure>UBS emphasized that token holders would benefit from the bank's institutional-grade cash management solutions, integrating its robust risk management and access to premium money market instruments.&nbsp;For more expert analysis on the future of this space and its potential, visit<a href="https://coin360.com/learn/how-asset-tokenization-unlocks-trillions-by-2030">&nbsp;</a>our detailed blog post on&nbsp;<a href="https://coin360.com/learn/how-asset-tokenization-unlocks-trillions-by-2030">asset tokenization</a>.This article has been refined and enhanced by ChatGPT.

Robot walking through digital corridor with glowing tokens

Robot walking through digital corridor with glowing tokens_11zon.webp

UBS Debuts Tokenized Money Market Investment Fund on Ethereum

<h2>Convenience Store Chain Taps Crypto Demand</h2>United States convenience store giant Sheetz is taking its crypto strategy to the next level by&nbsp;<a href="https://www.businesswire.com/news/home/20241031513263/en/Flexa-Expands-Partnership-with-Sheetz-to-Enable-Digital-Currency-Payments-for-In-Store-Purchases">expanding its partnership</a> with digital payment provider Flexa. This move enables customers to pay for in-store purchases using popular cryptocurrencies like&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> (<a href="https://coin360.com/coin/bitcoin-btc">BTC</a>),&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> (<a href="https://coin360.com/coin/ethereum-eth">ETH</a>),&nbsp;<a href="https://coin360.com/coin/litecoin-ltc">Litecoin</a> (<a href="https://coin360.com/coin/litecoin-ltc">LTC</a>), and&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> such as&nbsp;<a href="https://coin360.com/coin/usd-coin-usdc">USD Coin</a> (<a href="https://coin360.com/coin/usd-coin-usdc">USDC</a>) across more than 750 Sheetz locations.&nbsp;This development places Sheetz among the early adopters in the U.S. retail space, highlighting a significant shift toward integrating digital assets into mainstream payment systems. The announcement underscores Sheetz's commitment to payment innovation, aligning with the rising consumer demand for alternative transaction methods.&nbsp;<figure class="image"><img alt="tweet_1500938961321144321_20241102_191704_via_10015_io_11zon.jpg" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1500938961321144321_20241102_191704_via_10015_io_11zon_96a0d6df21.jpg"><figcaption>Source: Sheetz/ X</figcaption></figure>Flexa, known for its secure and instant crypto payment solutions, allows companies to tap into the growing market of digital asset payments. Flexa co-founder Trevor Filter emphasized this trend, noting the increasing interest in stablecoin use cases. “The demand for stablecoin use cases continues to grow, and we’re excited to help Sheetz stay at the forefront of payment innovation by offering their customers the ability to pay instantly and securely at any of their stores,” Filter stated.This partnership not only enhances payment flexibility for Sheetz's diverse customer base but also connects with the company's My Sheetz Rewardz loyalty program. Now integrated with Flexa, the program allows customers to earn rewards when purchasing with digital currencies, promoting further adoption of crypto payments among regular shoppers. The expansion is set against a backdrop of heightened interest in cryptocurrencies for everyday transactions, supported by recent data showing increased stablecoin usage and consumer adoption.Sheetz, a family-operated chain established in 1952, spans states like Pennsylvania, North Carolina, and Michigan.&nbsp;The timing of this move aligns with findings from the recent “State of Crypto 2024” report by venture capital giant Andreessen Horowitz. The report revealed significant surges in crypto engagement in states such as Pennsylvania and Michigan, where Sheetz has a strong presence. It also highlighted that approximately 40 million Americans now hold cryptocurrency, pointing to a growing acceptance of digital assets in various economic activities.To celebrate this integration, Sheetz and Flexa are rolling out a special promotion—a $20 discount on a single purchase for customers using Flexa to make their payment. This limited-time offer seeks to encourage users to experience the seamlessness of crypto transactions, further positioning Sheetz as a forward-thinking leader in retail payment solutions.This article has been refined and enhanced by ChatGPT.

Robot at checkout, emitting payment signal, pastel shelves behind

Robot at checkout, emitting payment signal, pastel shelves behind_11zon.webp

Sheetz Embraces Digital Payments With Expanded Flexa Partnership

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Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | October 26 - November 1, 2024

<h2>Blockchain Gaming Firm Receives Immediate Wells Notice from SEC</h2><a href="https://coin360.com/glossary/blockchain">Blockchain</a> gaming company Immutable revealed it received a Wells notice from the U.S. Securities and Exchange Commission (SEC), indicating potential enforcement action for alleged securities law violations. The company noted this came directly after its first meeting with the SEC, which offered minimal details.&nbsp;<div class="raw-html-embed"><blockquote class="twitter-tweet">Immutable has received a Wells notice from the SEC, the latest in their de facto policy of regulation by enforcement. We received this within hours of our first ever conversation, on a timeline clearly accelerated to land before an election. Sadly, stories like this are becoming…— Immutable (@Immutable) <a href="https://twitter.com/Immutable/status/1852093814112161932?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>The notice accused Immutable of making misleading statements and violating securities regulations related to its 2021&nbsp;<a href="https://coin360.com/coin/immutable-x-imx">IMX</a> token listing and sales. Immutable asserted, “With this action, the SEC is continuing to indiscriminately assert that tokens are securities,” emphasizing its confidence that the IMX token does not qualify as such.Following the news, the IMX price has dropped by 13.7%, coming back to its low levels in early August. Notably, this news aligns with the 32.47 million IMX <a href="https://tokenomist.ai/immutable-x">token unlock</a> for the project (worth $39 million at the time of reporting).<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/chart_9d9db9220a.png" alt="chart.png"></figure>Immutable pointed out that a Wells notice is typically issued following extensive discussions between a company’s legal team and the SEC, allowing both parties to assess the situation thoroughly.&nbsp;However, Immutable stated it received its notice after just one meeting, which it described as lacking detailed explanation—containing fewer than 20 meaningful words. This swift move by the SEC raises questions about the regulatory body’s approach to crypto firms, with Immutable expressing discontent over the abrupt notice and lack of clarity.The SEC has been actively pursuing crypto companies, accusing them of selling unregistered securities, a stance that has drawn significant industry criticism. To date, the SEC has launched 104 enforcement actions against crypto entities throughout 2023 alone, according to a report by the Blockchain Association.&nbsp;These actions have collectively cost affected companies approximately&nbsp;<a href="https://theblockchainassociation.org/regulation-by-enforcement/">$426 million</a> in legal defense fees. This aggressive stance has led to pushback from various industry players, including&nbsp;<a href="https://coin360.com/exchange/crypto_com">Crypto.com</a>, which recently sued the SEC after receiving a similar notice, arguing regulatory overreach.This article has been refined and enhanced by ChatGPT.

Robot breaking regulatory wall, revealing glowing token behind

Robot breaking regulatory wall, revealing glowing token behind_11zon.webp

Immutable Faces SEC Scrutiny for Alleged Securities Violations

<h2>Franklin Templeton's Tokenized Money Fund Adds Base Support</h2>Franklin Templeton’s OnChain US Government Money Market Fund, with assets totaling $410 million under the ticker FOBXX, has now become tradeable on&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a>’s Base, a notable move announced by the firm.&nbsp;This integration positions Franklin Templeton as the first major asset manager to directly launch on Base, adding the platform to its list of supported blockchains. With this addition, the fund is now accessible on six networks:&nbsp;<a href="https://coin360.com/coin/stellar-lumens-xlm">Stellar</a>,&nbsp;<a href="https://coin360.com/coin/aptos-apt">Aptos</a>,&nbsp;<a href="https://coin360.com/coin/avalanche-avax">Avalanche</a>,&nbsp;<a href="https://coin360.com/coin/arbitrum-arb">Arbitrum</a>,&nbsp;<a href="https://coin360.com/coin/polygon-ecosystem-token-pol">Polygon</a>, and the newly included Base. Stellar remains the primary network among these options.<div class="raw-html-embed"><blockquote class="twitter-tweet">New chain unlocked. Benji, our proprietary blockchain-integrated recordkeeping system, is now live on <a href="https://twitter.com/base?ref_src=twsrc%5Etfw">@base</a>! With this announcement, Franklin Templeton is the first asset manager to build a tokenized fund on Base. Base is a layer 2 blockchain built on Ethereum designed to… <a href="https://t.co/lRij7HchSl">pic.twitter.com/lRij7HchSl</a>— Franklin Templeton Digital Assets (@FTDA_US) <a href="https://twitter.com/FTDA_US/status/1851991262422843444?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>First launched in 2021, FOBXX gained recognition as the pioneering money-market fund leveraging a public blockchain for transaction and ownership record-keeping. Earlier in 2024, Franklin Templeton introduced peer-to-peer transfer capabilities for FOBXX, boosting its use case within the digital asset ecosystem.&nbsp;The fund's strategy emphasizes high current income while safeguarding shareholder capital and maintaining a stable share price of $1 per share, investing at least 99.5% of its assets in U.S. government securities, cash, and collateralized repurchase agreements.Currently, FOBXX ranks as the second-largest tokenized fund globally, trailing only behind BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which holds over $518 million in assets as of the end of October. The move underscores Franklin Templeton’s commitment to innovating within the digital finance landscape, offering more diversified access for its investors.Base, Coinbase’s&nbsp;<a href="https://coin360.com/glossary/layer-2">Layer 2</a> blockchain, has made significant strides since its inception last year, amassing over $8 billion in total value locked (<a href="https://coin360.com/glossary/understanding-tvl-defi">TVL</a>). This figure places it as the second-highest among Layer 2 solutions according to L2Beat data, following Arbitrum. On DefiLlama, which counts the TVL excluding native tokens, Base is the&nbsp;<a href="https://coin360.com/learn/base-chain-success">biggest L2</a> by TVL. Impressively, Base witnessed a 55% surge in transactions during the third quarter compared to the previous quarter, illustrating its growing adoption.&nbsp;Base enhanced its security framework by implementing&nbsp;<a href="https://coin360.com/news/base-fault-proofs-launch">fault proofs</a> on its mainnet, allowing users to challenge invalid transactions and promoting decentralization. This transition to a more decentralized model was achieved through close collaboration with&nbsp;<a href="https://coin360.com/coin/optimism-op">Optimism</a>, completing the shift from testnet to mainnet in half the time taken by its counterpart. Base is set to further solidify its position by forming a Security Council to oversee network upgrades, aiming for full decentralization by 2025.This article has been refined and enhanced by ChatGPT.

Robot pointing at Base on holographic blockchain map, pastel shapes

Robot pointing at Base on holographic blockchain map, pastel shapes_11zon.webp

Franklin Templeton's $410M Fund FOBXX Expands to Base Network

This article comes to you with the generous support of&nbsp;<a href="https://crypto-games.io/en/home?r=Coin360">Crypto-Games</a>. Sign up now and get the rewards that await you at Crypto-Games with a 200% deposit bonus of up to 20,000 USDT!<hr><h2>Users Report Account Balance Issues Amid Phantom's Downtime</h2><a href="https://coin360.com/coin/solana-sol">Solana</a>’s leading&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a>,&nbsp;<a href="https://coin360.com/review/phantom">Phantom</a>, faced operational issues, leaving users with disrupted account balances and an unexpected roadblock during the much-anticipated GRASS token airdrop. The outage, reported by Phantom’s&nbsp;<a href="https://status.phantom.app/">status page</a>, had persisted for over an hour, affecting users’ ability to see accurate balances.&nbsp;<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/status_357292f443.png" alt="status.png"><figcaption>Source: Phantom’s&nbsp;status page</figcaption></figure>As the&nbsp;<a href="https://coin360.com/glossary/decentralised-application">decentralized application</a> Grass distributes 10% of its total <a href="https://coin360.com/coin/grass-grass">GRASS</a> token supply, impacted users are left in a frustrating limbo, prompting Phantom to reassure them through an update stating, "Your funds are safe."<figure class="image"><img alt="chart.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/chart_c16e62da54.png"></figure><hr>Ready to dip your toes into GRASS?&nbsp;<a href="https://www.mexc.com/register?inviteCode=mexc-coin360head">Trade on MEXC</a>, the top exchange known for its unbeatable fees and massive selection of cryptocurrencies. Don’t miss out—jump in and start trading today!<hr>Despite the disruption, Phantom’s browser extension and mobile app remained functional, allowing limited access to services. However, transaction reliability was compromised, leading Phantom to advise users to bypass simulation errors and proceed with&nbsp;<a href="https://coin360.com/glossary/decentralised-application">decentralized applications</a> (<a href="https://coin360.com/glossary/decentralised-application">dapps</a>) if urgently needed.&nbsp;<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1850905912573141283_20241029_002117_via_10015_io_2417df9b14.png" alt="tweet_1850905912573141283_20241029_002117_via_10015_io.png"><figcaption>Source: Phantom/ X</figcaption></figure>The status page labels the situation as a “major issue,” and Phantom committed to resolving it promptly. This incident sparked concern among the platform’s user base, as airdrop claimants encountered challenges during what should be a straightforward transaction process.This isn’t the first time Phantom users have faced downtime in 2024. Earlier incidents on February 3 and August 15 disrupted account balances, with the wallet team swiftly resolving issues on both occasions. Despite Phantom’s assurance of safety during these outages, the frequency of interruptions has prompted questions among users regarding stability.<hr>Need a smart way to trade new tokens on Solana? Let Telegram bots handle it—<a href="https://t.me/maestro?start=r-coin360m8">get started with Maestro</a> now and stay ahead of the market!<hr>Phantom’s team engaged in restoring full functionality, and the issue has been fixed. With user frustrations mounting amidst the GRASS token drop, the swift resolution of this downtime will be essential for maintaining confidence in one of Solana’s flagship wallets.<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/tweet_1850938547328745794_20241029_002146_via_10015_io_db345dfcf0.png" alt="tweet_1850938547328745794_20241029_002146_via_10015_io.png"><figcaption>Source: Phantom/ X</figcaption></figure>This article has been refined and enhanced by ChatGPT.

Robot and ghost balancing Solana token in blockchain universe

Phantom Wallet Outage Disrupts Solana Users During GRASS Airdrop

Users Report Account Balance Issues Amid Phantom's Downtime

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UBS Debuts Tokenized Money Market Investment Fund on Ethereum

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Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | October 26 - November 1, 2024

Immutable Faces SEC Scrutiny for Alleged Securities Violations

Franklin Templeton's $410M Fund FOBXX Expands to Base Network