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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
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Singapore’s MAS to explore “global layer 1” blockchain tokenization with BNY, DBS, JPM, MUFG

Today the Monetary Authority of Singapore (MAS) announced a significant expansion of its Project Guardian, which explores tokenization using public blockchain. The most significant aspect is a new initiative called Global Layer One (GL1). It’s designed as an “open, digital infrastructure enabling cross border transactions and global liquidity pools. BNY Mellon, JP Morgan, DBS and MUFG are involved.

Before exploring GL1, MAS announced five more use cases. They include a JP Morgan and Apollo initiative on tokenized funds. And Citi, Fidelity and T Rowe Price using FX and oracles for trades on Avalanche. We covered both of those today.

A Global Layer One (GL1)

Putting the ‘Global Layer One’ in context, there are three other major initiatives along similar lines. They are the Regulated Liability Network (RLN), the BIS concept of a Unified Ledger and the IMF’s XC concept for cross border payments. And by the way, the IMF is joining Project Guardian to provide policy input.

While the announcement is thin on details, we believe a key feature of GL1 is the ‘open’ part. We’d speculate that this might be a quasi public blockchain, probably using proof of authority. Any end user can access the network provided they do KYC. That’s quite different from the RLN, which is more about creating interoperability between disparate wholesale networks and ledgers. We believe the Unified Ledger is also wholesale focused.

“To fully realise the potential of tokenised markets, and achieve network effects, a scalable digital infrastructure is needed,” said Mr Leong Sing Chiong, Deputy Managing Director (Markets and Development), MAS. “GL1 will provide a foundational digital backbone and bring markets together with similar principles of openness and accessibility as the public internet. MAS welcomes additional policymakers and financial institutions to participate in the design phase of the GL1 initiative and contribute towards its development.”

GL1 as an open blockchain network

If that’s not enough to convince you, here’s the rationale behind the public blockchain thesis. Firstly Layer 1 is typically a phrase used in public blockchain circles. A key differentiator of MAS’s Project Guardian has been allowing institutions to test the use of public blockchains. It’s all done in a regulated way with KYC and layers of permissioning. One enterprise recently said to Ledger Insights that MAS is anti public blockchain. Based on Project Guardian, we disagree. However, its statements position it as not-so-keen on cryptocurrency.

It’s possible to have a public blockchain without cryptocurrency. But that requires strong and ‘trusted’ governance. Regulated institutions might operate all the nodes. Credit Agricole and SEB are doing something similar with So|bond.

In related news, today MAS published a paper on blockchain interoperability. Most of the document explores an interlinked network model (INM) which requires bridges. The concern is that bridges are notoriously vulnerable and are currently the source of most hacks on public blockchains.

Before diving into INM, MAS explores the other options. One is a common infrastructure, which MAS previously trialed in Project Dunbar for cross border CBDC. Another is a layered model along the lines of Ethereum and its sidechains. The paper notes that this ensures that “costs remain viable.”

Other new Project Guardian initiatives
Apart from the JP Morgan and Citi projects, another new tokenization initiative is a treasury management solution from Ant Group. HSBC recently partnered Ant to trial something similar in Hong Kong. BNY Mellon and OCBC are trialing a cross border FX solution across networks using different technologies. Bear in mind that BNY Mellon custodies reserves for the USDC stablecoin.

U.S. asset manager Franklin Templeton is the fifth use case addition. It already manages the largest tokenized traditional asset fund (more than $300m) on a public blockchain. Now it’s trialling Singapore’s new Variable Capital Company (VCC) combined with fund tokenization.

In fact, MAS has started a new VCC track for Project Guardian because eight institutions are engaged in VCC fund tokenization projects. We previously reported on UBS trialing tokenized funds using a VCC structure in addition to Schroders.

https://www.ledgerinsights.com/global-layer-1-gl1-blockchain-tokenization-bny-dbs-jpm-mufg

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Built On Stellar XLM 💎 😉

Blockchain adoption demands both privacy and transparency. Stellar is built for both.

@tomerweller, SDF's Chief Product Officer, shares the path to privacy on Stellar:

Dont underestimate Stellar..
This is financial advice. 💎

00:01:01
⚠️ The entire cross-chain bridge & CEX model is built on a flawed premise ⚠️

The entire cross-chain bridge & CEX model is built on a flawed premise: custodial trust. This is a bug, not a feature.
​What if you could execute a native BTC <> native SOL (or ETH, USDC, USDT, XRP, RWAs, tokenized assers, etc.) swap with zero counterparty risk? No bridge, no CEX, no wrapped assets, not even a DEX!

​This video breaks down the P2P atomic swap architecture that makes it possible. (Thread 👇)

https://x.com/ReggieMiddleton/status/1973467803656032281

00:02:12
In the first SEC-CFTC Joint Roundtable in 14 years, Pyth is mentioned.

✓ The US Dept of Commerce worked with Pyth to bring data onchain

✓ Institutions are using Pyth data in live trading models

Dave Olsen, from Jump Trading Group at the SEC-CFTC Joint Roundtable ⬇️

00:00:37
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading

🚨BREAKING: CRYPTOCOM GETS CFTC LICENSE

Crypto ․com is now the first major crypto platform to secure a U.S. CFTC derivatives license.

Ledger now supports @hedera tokens!

This means you can now manage your favorite HTS tokens, such as @SaucerSwapLabs, @gib_plz, @HashPackApp, @KabilaApp, @dovuofficial, and more, easily and securely through Ledger Live.

Head over to Ledger Live now to check it out!

https://x.com/Ledger/status/1973355804469371017

Saving and sending money across Africa shouldn't be expensive or slow. 🌍

Our USD-backed stablecoin, $RLUSD, is changing that: on.ripple.com/4nwqIic

Through partnerships with @chippercashapp, @VALRdotcom, and @yellowcard_app, we're reducing costs, boosting speed, and delivering reliable access for individuals and businesses across the continent.

Learn how stablecoins are transforming financial services across Africa and beyond.

https://ripple.com/insights/rlusd-in-africa-a-new-chapter-for-stablecoins-and-financial-inclusion/

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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🔗 Crypto Donations👇
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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

Source

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XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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💳 PayPal: 
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XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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