Crypto On LYO: The Blend — Mastercard Helps Banks Offer Cryptocurrency Trading, French Société Générale’s Crypto Division Lands Regulatory Approval, Dubai Police to Work in Metaverse
What happened in the crypto world in the last week? Let’s see some interesting news together!
Mastercard Helps Banks Offer Cryptocurrency Trading
Mastercard is launching a program to let financial institutions offer cryptocurrency trading to their clients.
The payments giant will act as a “bridge” between Paxos, a crypto trading platform already used by PayPal, and banks. Mastercard’s program will handle regulatory compliance and security — two core reasons banks cite for avoiding the asset class.
“There’s a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions,” said Jorn Lambert, Mastercard’s chief digital officer.
French Société Générale’s Crypto Division Lands Regulatory Approval
Investment bank Société Générale has gained approval to operate digital asset services in France, in its latest crypto-focused efforts.
According to records held by the French financial regulator l’Autorité des Marchés Financiers (AMF), the bank’s crypto subsidiary SG Forge was registered at the end of September for three activities related to trading cryptocurrencies.
Providers must register with the AMF in France before they can offer services such as custody of crypto or operating a trading platform.
Dubai Police to Work in Metaverse
The United Arab Emirates (UAE) is moving toward blockchain-based technology adoption, which can be seen through the ongoing initiative by the UAE to bring Metaverse across all governmental and commercial enterprises.
On 16 October, Khaleej Times reported that Ajman Police in Dubai became the first Government Enforcement agency to launch the Metaverse platform.
Through the Metaverse platform, police stations will provide their services directly through the virtual world. In short, it will be easy for the citizens to contact the Ajman Police directly by sitting at home.
This new service of Ajman Police is dubbed “Request for Sponsorship” to allow citizens & police departments to connect remotely & easily.
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