More people own crypto across countries, while brands are increasingly accepting digital assets. Meanwhile, crypto companies and executives are meeting at Davos while crypto venture capital funding is booming in Africa. Find out the top 5 crypto news of this week.
ECB survey finds 10 percent of Eurozone households own crypto assets
A new survey by the European Central Bank found that one in ten people in major European countries – Belgium, France, Germany, Italy, the Netherlands, and Spain – own crypto. Of those countries, the Netherlands revealed the highest percentage of ownership at 14 percent, with France showing the least amount of ownership at 6 percent. Recent surveys estimate a similar crypto ownership percentage in the US while revealing that high incomers are the segment that owns the most crypto. Read more
French luxury brand Balenciaga to accept bitcoin, ether as payment
Balenciaga announced it would support payments in crypto, starting with bitcoin and ether in flagship stores in the US. Balenciaga is part of the same group as Gucci, which announced its support for crypto payments last week. Not only luxury brands are going forward with crypto integrations. This week, one of the largest real estate developers in Brazil started to accept transactions with crypto. Read more
US Congress introduces record number of crypto-related bills
Since January 2022, the US Congress has introduced a total of 80 crypto-related bills, a record number of which some have passed into law. The efforts for more crypto legislation cover multiple areas, including crypto taxes, promoting blockchain technology, and tackling financial crime. The recent TerraUSD crash was another trigger for more regulations across the globe, with, for example, the UK moving forward with new rules. Read more
Venture funding for African crypto startups grew 11x in 2022: Report
Crypto venture funding is booming, with crypto startups in Africa registering a growth of over 1,600 percent in the first quarter of 2022 compared to the first quarter of 2021. African crypto startups raised over $90 million in funding, with Nigeria raising the most capital, followed by Seychelles, Kenya, and South Africa. This report on crypto funding also estimates that Africa could see its first major blockchain deal in the next 2 to 3 years.
Crypto crowd dominate Davos main street despite price crash
The World Economic Forum Annual Meeting at Davos happened this week, with an inflow of crypto companies and executives. Crypto leaders are joining the exclusive event to ‘encourage faster adoption of blockchain and crypto’ and to ‘build relationships and network.’ Some executives estimate that ‘about 50 percent of the town’s storefronts have been occupied by blockchain or crypto firms’ during the event. Read more
About Sygnum
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks, and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable, and future-proof regulated banking platform. Our interdisciplinary team of banking, investment, and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage and operates globally. To learn more about Sygnum, please visit www.sygnum.com.
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