USDTradFi-Crypto Ties This Week: Tokenized Bonds, FIFA Blockchain, and Gaming Asset Moves
FIFA to Launch Own EVM-Compatible Blockchain for NFT Collection Migration
FIFA is set to launch its own EVM-compatible blockchain, the FIFA Blockchain, to host its NFT collection, currently minted on Algorand and Polygon. This migration aims to enhance user experiences and wallet compatibility, paving the way for future innovations. The transition will commence no earlier than May 20, 2025, as FIFA focuses on its official NFT collection, FIFA Collect, first introduced in 2022. Initially partnering with Algorand to preserve World Cup moments on-chain, FIFA expanded to Polygon in 2023. Post-migration, only EVM wallets, such as MetaMask, will be supported, phasing out Algorand-native options. Users will not need to take immediate action, with FIFA promising further guidance on the migration process.
TON Foundation Launches $500M Telegram Bond Fund in Partnership with Libre
The TON Foundation has partnered with Libre to launch a $500 million Telegram Bond Fund (TBF), which bridges traditional finance and decentralized finance (DeFi) by integrating tokenized bonds with regulatory compliance. The TBF will bring a portion of Telegram's $2.35 billion outstanding bonds onto the TON blockchain, allowing institutional and accredited investors to access traditional financial products in a decentralized manner. Libre's infrastructure enables these tokenized bonds to be used as collateral in DeFi, while also allowing developers to create new yield-bearing products. The rollout will include a multi-phase Gateway system for managing subscriptions, redemptions, and fund transfers. Investors can engage using fiat or stablecoins through TON-native wallets. This collaboration highlights the potential of combining institutional-grade assets with blockchain usability, following Libre's success in tokenizing over $200 million in assets across various funds, demonstrating a growing interest in real-world asset tokenization within the crypto space.
Calastone Partners with Fireblocks to Enable Fund Tokenization on Blockchain
London-based Calastone has partnered with Fireblocks to launch a tool that allows asset managers to tokenize any fund on its platform. This integration enables smart contracts deployment on blockchains like Ethereum and Polygon while maintaining core functions such as compliance and administration. The collaboration reflects growing institutional interest in tokenization, with $21.61 billion currently in tokenized assets. Calastone connects over 4,500 financial organizations, enhancing connectivity between traditional finance and blockchain markets. Chief Commercial Officer Brian Godins emphasized the importance of this step in unlocking access for digital-first investors while ensuring compliance and security in operations.
Mercado Bitcoin Partners with Wormhole for Cross-Chain Tokenization Expansion
Brazil's largest crypto exchange, Mercado Bitcoin, has partnered with Wormhole to enhance its tokenization platform, facilitating cross-chain interoperability. This integration will allow Mercado Bitcoin to connect over $200 million in tokenized assets across more than 30 blockchains, including products like tokenized fixed-income securities and carbon credits. Since launching its MB Tokens unit, the exchange has introduced over 340 tokenized products, amassing a market cap of approximately $180 million. This move follows Mercado Bitcoin's earlier partnership with Polygon Labs to tokenize an additional $200 million in assets, further expanding its influence in the Latin American digital asset market.
Trump Media Plans Utility Crypto Token Launch for Truth+ Amid Backlash Over Crypto Ties
The Trump Media and Technology Group (TMTG) is planning to launch a utility crypto token and wallet for its streaming platform, Truth+, aiming to enhance user engagement and facilitate payments. TMTG has requested $250 million to invest in crypto products and services, with the token intended for tipping, content boosting, and decision-making participation. This initiative, announced in a shareholder letter by CEO Devin Nunes, follows a trademark application for crypto-related software. However, Trump's ongoing ties and investments in the crypto space have sparked criticism, raising concerns about potential conflicts of interest and regulatory implications.
Ubisoft Launches Decentralized Verification Network for Cross-Chain Crypto Game Asset Migration
Ubisoft is launching a Decentralized Verification Network (DVN) powered by LayerZero’s technology, aiming to facilitate the migration of NFT and in-game currency assets across blockchains. This initiative will enable players of "Champions Tactics: Grimoria Chronicles," which operates on the Oasys EVM blockchain, to seamlessly transfer their assets to other Ubisoft crypto games or external platforms. The DVN will simplify the bridging process, making it more user-friendly compared to traditional crypto bridges, with fixed costs for asset migration. LayerZero supports over 130 blockchains, potentially including Oasys and Immutable zkEVM for Ubisoft's future projects. Ubisoft’s goal is to create an environment where users are unaware of underlying blockchain complexities, focusing instead on dollar-denominated wallets. Nicolas Pouard from Ubisoft's Strategic Innovation Lab emphasizes their commitment to a chain-agnostic approach, signaling a move toward a more integrated and liquid crypto gaming ecosystem.
Bunq Launches In-App Crypto Trading in Partnership with Kraken Across Europe
Bunq, a leading European digital bank, has launched in-app crypto trading in collaboration with Kraken, enabling users to trade over 300 digital assets directly within their banking app across six European countries. This initiative aims to create a unified platform for managing savings, payments, and investments, driven by user demand for simplicity and trust. Bunq Crypto complies with MiCA regulations and plans to expand to the EU, UK, and U.S. soon. Notably, Bunq reported €85.3 million in profits for 2024, reflecting its growing user base while meeting the rising demand for integrated financial services.
MAG Signs $3 Billion Tokenization Deal with MultiBank, Shifting from Mantra Chain Partnership
UAE real estate developer MAG has signed a significant $3 billion tokenization deal with MultiBank Group and blockchain infrastructure provider Mavryk, marking a pivot from its earlier $500 million agreement with Mantra Chain. The partnership aims to tokenize high-value properties, including The Ritz-Carlton Residences and Keturah Reserve, making them accessible to global investors via MultiBank.io's regulated RWA marketplace. Investors can earn daily yields on their tokenized assets. Mavryk will facilitate on-chain asset issuance, while MultiBank ensures regulatory compliance and market governance, positioning the MBG token as integral to this innovative investment framework.
This article has been refined and enhanced by ChatGPT.
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