GizmoLab Report: Cutting-Edge Developments in Web3📈

A Quick TL;DR:

- Ripple Partners with Mercado Bitcoin for Crypto Payments in Brazil

- Grayscale Launches Aave Trust for Accredited Investors

- Visa Unveils Blockchain Platform for Fiat-Backed Tokens

- Credbull, Plume Unveil LiquidStone High-Yield RWA Solutions

- Aptos (APT) Jumps 11% Following HashPalette Acquisition in Japan

- HBO Announces Documentary Revealing Bitcoin Creator’s Identity

Ripple and Mercado Bitcoin Team Up to Launch Crypto-Enabled Cross-Border Payments in Brazil

Ripple has partnered with Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, to launch crypto-enabled international payments in Brazil. Announced on October 3, this collaboration will allow businesses to settle cross-border payments faster, more efficiently, and at lower costs using Ripple’s "managed end-to-end payments solution." Initially, the service will focus on institutional clients, with Mercado Bitcoin facilitating internal treasury operations between Brazil and Portugal. A wider rollout, including corporate and retail customers, is expected in the future.

Mercado Bitcoin, known for its high-profile partnerships, including Mastercard, aims to enhance its payment infrastructure with this integration. This marks another significant step in the exchange's international expansion, especially after previously partnering with Mastercard to enable live transactions across Latin America and Europe. Ripple anticipates the solution will be fully operational before the end of 2024. This partnership highlights both firms' commitment to improving customer experiences and lowering cross-border transaction costs.

Grayscale Introduces Aave Trust, Offering Accredited Investors Exposure to Aave's DeFi Lending Platform

Grayscale Investments has unveiled the Grayscale Aave Trust, providing accredited investors with a new avenue to gain exposure to AAVE, the native token of the Aave lending protocol. Aave is the largest decentralized finance (DeFi) lending platform by total value locked, enabling users to borrow and lend cryptocurrencies without intermediaries. By using smart contracts on the Ethereum blockchain, Aave eliminates the need for traditional credit checks, making lending and borrowing more accessible and transparent.

Like Grayscale’s other single-asset investment trusts, the Aave Trust invests solely in AAVE tokens and is available to accredited investors via daily subscriptions. Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, praised Aave for its potential to revolutionize finance by reducing reliance on intermediaries and human judgment. Grayscale has also recently launched other crypto trusts, including those for XRP and Sui, reflecting the firm’s growing investment offerings in the DeFi space.

Visa Launches Blockchain Platform to Help Banks Manage Fiat-Backed Tokens, BBVA Set to Pilot by 2025

Visa has introduced the Visa Tokenized Asset Platform (VTAP), a blockchain-based solution aimed at assisting banks in issuing and managing fiat-backed tokens, such as stablecoins. This platform is designed to integrate with existing banking infrastructure via APIs, enabling financial institutions to explore tokenization use cases within a sandbox environment. Spanish multinational bank BBVA will be the first to pilot this platform on the Ethereum blockchain by 2025, with testing already underway. VTAP's capabilities include minting, burning, and transferring tokens backed by fiat currencies.

Additionally, it allows banks to automate complex financial processes, such as administering credit lines using smart contracts. Visa’s global head of innovation, Vanessa Colella, emphasized the platform's potential to help banks integrate blockchain technology seamlessly. The platform aims to support interoperability across multiple blockchain networks, though no further details were provided on future networks. Despite Visa’s cautious approach toward stablecoins, citing concerns over automated bot transactions driving activity, the company continues to push forward with innovations bridging traditional banking and blockchain.

Credbull and Plume Collaborate to Launch LiquidStone, Offering High-Yield RWA Liquid Solutions on Plume Network

On-chain private credit platform Credbull has partnered with Plume to launch LiquidStone, a high-yield solution for Real World Asset (RWA) financing. LiquidStone, available exclusively on the Plume Network, will feature a diversified asset structure, including on-chain liquid assets, collateralized lending, and high-yield trade financing solutions. The first phase will introduce a $100 million asset capacity, offering a 30-day product with a 10% annual percentage yield (APY) and redemption features. A second phase is planned for early 2025, adding a 90-day product with a 15% APY, distributed monthly, and an expanded asset capacity of $500 million.

Credbull’s CEO, Jason Dehni, emphasized the company’s goal to innovate the DeFi space by offering structured finance solutions with enhanced accessibility. Plume’s CEO, Chris Yin, highlighted that the platform is designed to simplify liquidity in the RWA space, promoting broader adoption of on-chain funds. Both CEOs view RWA tokenization as transformative, with potential to democratize access to previously inaccessible assets, particularly in developing countries.

Aptos (APT) Surges Over 11% After Acquiring Japanese NFT Service Provider HashPalette, Strengthening Its Asian Presence

Aptos' native token (APT) surged by over 11%, reaching $8.34, following its acquisition of Japan-based NFT service provider, HashPalette. This acquisition marks Aptos Labs' strategic expansion into Japan and the broader Asian market, leveraging HashPalette's strong connections with major Japanese companies, such as telecom giant KDDI. The move is seen as a significant step toward bridging Web3 innovations in sectors like entertainment, gaming, and digital assets. Despite a broader market dip, driven by conflicts in the Middle East that impacted assets like Bitcoin and Ethereum, Aptos managed to defy the trend.

Its market cap now stands at $4.05 billion, with a trading volume of over $322 million in centralized exchanges. Aptos has shown a mixed performance over the longer term, having gained 27% in the past month but still trading 59% below its all-time high of $19.90 two years ago. This acquisition boosts investor confidence in Aptos' ecosystem, particularly in light of Japan's forward-thinking crypto regulations and its role as a global leader in crypto adoption.

HBO's New Documentary "Money Electric" Claims to Reveal Bitcoin Creator Satoshi Nakamoto's Identity

The Stellar Development Foundation has partnered with OnlyDust to strengthen its ecosystem by attracting and retaining developers through open-source contributions. An upcoming HBO documentary, Money Electric: The Bitcoin Mystery, set to release on October 9, 2024, aims to unmask the real identity of Bitcoin’s pseudonymous creator, Satoshi Nakamoto. Directed by Cullen Hoback, known for Q: Into the Storm, the documentary promises a controversial revelation regarding Nakamoto’s identity. According to reports, the documentary suggests that Len Sassaman, a cryptographer who committed suicide in 2011, could be Nakamoto.

Galaxy Digital’s Head of Research, Alex Thorn, highlighted this claim, linking it to a 2021 theory that explored Sassaman’s possible connection to the famed Bitcoin inventor. Nakamoto has remained anonymous since disappearing in 2010, leaving behind an estimated 1.1 million bitcoin, worth around $67 billion today. The documentary is expected to stir heated debate, regardless of the evidence presented. Directed by Hoback, Money Electric intends to delve deep into one of the most enduring mysteries in the crypto world, with the outcome likely to spark both interest and controversy.

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