Crypto Loyalty Rewards, Custody And Stablecoin Initiatives; Equity Swap On Blockchain – Mondaq News Alerts

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United States: Crypto Loyalty Rewards, Custody And Stablecoin Initiatives; Equity Swap On Blockchain

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Late last week, a major U.S. financial markets firm that
operates 12 regulated securities and commodities exchanges
announced an agreement to acquire a leading provider of loyalty
solutions for merchants and consumers. According to the press
release, the acquired firm “powers programs for seven of the
top ten financial institutions and 4,500 loyalty, incentive and
employee perk programs for companies across a wide spectrum of
industries.” The press release notes that the acquired firm is
intended to be integrated with Bakkt, the exchange for physically
delivered bitcoin futures contracts. According to the press
release, “Integrating with Bakkt will allow top retail brands
to offer more innovative loyalty programs and help consumers unlock
and access value in those programs.” In a related development,
a recent report provided details on plans by the Catalan soccer
team, FC Barcelona, to launch a blockchain token, termed the Barca
Fan Token ($BAR). The token will reportedly be used by fans to
influence club decisions and access other digital features and
experiences involving the soccer team.

In news from the custody space, one of the largest U.S.-based
cryptocurrency custody providers recently announced plans to expand
its business to include new custodial entities in Switzerland and
Germany. In payments news, a Canadian startup, Canada Stablecorp
Inc., has launched its Canadian dollar stablecoin (QCAD), an ERC20
token backed 1:1 by Canadian dollars. And in a notable capital
markets development, two major U.S. financial institutions recently
completed what has been reported as “the first equity swap on
a new blockchain built using tools originally designed for
ethereum.” The transaction took place on Axcore, a private
permissioned blockchain modeled in part on the Ethereum
blockchain.

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