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Tether Launches Mexican Peso Tokens on Ethereum, Tron, and Polygon

Stablecoin issuer Tether Operations Limited announced that the company has launched a new token pegged to the value of the Mexican peso. According to the team, the newly launched MXNT tokens will initially be hosted on Ethereum, Polygon, and Tron.

Stablecoin MXNT is pegged 1:1 to the Mexican peso

Stablecoin and blockchain firm Tether has revealed that it has launched a new fiat-backed token that will join the company’s pool of stablecoins. Tether launched MXNT, a stablecoin pegged to the value of the Mexican peso.

Tether’s other fiat token offerings include the popular USDT, which is pegged to the US dollar, and EURT, which is pegged to the value of the euro. The company also offers CNHT, a token pegged to the offshore Chinese yuan, and Tether gold XAUT, a token pegged to the value of an ounce of fine gold.

Tether USDT is the largest stablecoin in existence today as it currently has a market valuation of around $73.2 billion. The token’s market cap represents 5.77% of the $1.27 trillion crypto economy.

Of the $86.43 billion in digital currency trading volume on Thursday, the connection volume is around $45.42 billion, or 52.55% of today’s global trading volume. In terms of bitcoin (BTC) trading pairs, USDT is the top pair with bitcoin, capturing 55% of today’s BTC trading volumes. Tether says that the launch of MXNT will be a “testing ground for the integration of new users in the Latin American market.”

Paolo Ardoino, CTO of Tether, detailed during the announcement that the company has seen the popularity of digital currencies increase in Latin America. “We have seen an increase in the use of cryptocurrencies in Latin America in the last year, which has made it clear that we need to expand our offerings,” Ardoino said in a note sent to Bitcoin.com News.

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Second largest bank in Japan to launch institutional Bitcoin and cryptocurrency custody services

Sumitomo Mitsui Trust will partner with Bitbank to form a company focused on institutional custody services for bitcoin and other cryptocurrencies.

Japanese bank Sumitomo Mitsui Trust is launching a new company for institutional clients seeking custody services for bitcoin and other cryptocurrencies.

The new company will be called Japan Digital Asset Trust and is a joint venture with 85% owned by Bitbank and 15% owned by Mitsui Trust.

The company reportedly has $2.3 million in committed capital for the launch and expects to raise a total of $78 million.

Sumitomo Mitsui Trust, Japan’s second-largest bank, is creating a new company called the Japan Digital Asset Trust to offer custody services for bitcoin and other cryptocurrencies to institutional clients, according to a report by Nikkei Asia.

The new company will hold assets such as bitcoin and other cryptocurrencies for large investors and corporations because the company believes investors will feel more comfortable if custody of these assets can be held by trusted financial institutions.

The Japan Digital Asset Trust will be a majority-owned joint venture by Bitbank, a Tokyo-based cryptocurrency exchange, which will control 85% of the company. The remaining 15% of the property will be owned by Mitsui.

The new company is expected to have $2.3 million in equity at launch and hopes to raise enough capital from investors to reach a target of $78 million.

This announcement follows news that competing Japanese bank Nomura Holdings Inc. also recently announced that it would create a subsidiary to offer escrow services to institutional clients looking to acquire bitcoin and other cryptocurrencies.

When scaled down to the global scale, the adoption of bitcoin as an institutional asset class is on the rise as the Mitsui Trust joins other financial institutions such as BNY Mellon, which last year supported a cryptocurrency exchange. Likewise, Fidelity created Bitcoin First, which was a resource to show institutional investors why they should invest in bitcoin before any other cryptocurrency, and subsequently offered bitcoin-based products.

World banking leader Morgan Stanley also published a report on the viability of bitcoin as a currency following the events of Jack Maller’s Bitcoin 2022 announcement, where he announced that Strike, his Bitcoin infrastructure company, had integrated with the provider. the world.

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Top Coins To Buy As We Enter The Second Half Of 2022

2022 seems to have passed very quickly for most cryptocurrency investors. The market did not perform as expected, but we did not see any big drops. As we enter the second half of the year, there are some opportunities to make some serious money. This is why:

Most of the coins haven't really made it to the top and are still heavily discounted.



The second half of the year could bring a change in fortunes as more investors enter the market.



The general outlook for many coins remains good, even with the drop during the first half of 2022.

So, we decided to create a list of two coins that we think could explode in the latter half of 2022. Here they are:

Polygon (MATIC)

In early 2022, a coin destined for great things was the Polygon (MATIC). Analysts around the world felt that the altcoin would challenge big projects like Ethereum and Solana. This was after MATIC delivered incredible profits to investors a year earlier.

But fast-forward six months to 2022, MATIC has shrunk dramatically. At the moment, it is very difficult to see how the altcoin will live up to the high expectations set earlier in the year. But we think that Polygon and its fundamentals will be good enough to attract more buyers. As such, MATIC can offer growth of up to 4x the current price.

cosmos (atom)

One thing we love about Cosmos (ATOM) is his incredible resilience. Yes, the coin has suffered losses this year. But compared to the rest of the market, it actually managed to avoid big sales.

We also believe that the coin is significantly undervalued, especially when you look at its roadmap and vision for the future. For this reason, ATOM is highly recommended for the rest of the year.

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Elon Musk Hints Tesla Will Accept BTC Again Soon

Elon Musk, the South African billionaire and businessman behind big companies like SpaceX and Tesla, has hinted that the latter company may once again accept bitcoin for payments in the future, given his confidence that the entire industry is moving towards renewable energy.

Elon Musk illuminates the use of BTC

Musk caused a lot of controversy in the first half of 2021 when he announced that his company would accept bitcoin for electric vehicles. The move caused a lot of speculation and joy among crypto traders, as Tesla was one of the largest companies in the world and Musk was one of the richest people in the world. The fact that he was a fan of cryptocurrencies was affecting many digital traders, and they were sure that Bitcoin would probably reach new heights.

At first, that is exactly what happened. Bitcoin surged to $57,000, which was its new all-time high at the time. Things were really looking up when suddenly, just a few weeks later, Musk announced that he was rescinding the decision because he was concerned about the prospects of bitcoin mining and what the environmental risks were.

This drove a lot of people crazy and reportedly triggered a new series of drops in the price of bitcoin. Explaining his reasoning in a recent interview with ARK Invest’s Cathie Wood, Musk stated:

Tesla's mission is to accelerate renewable energy. Tesla is interested in renewable energy, it works on solar energy and we interact with wind energy for our batteries. We knew that you can't generate that much power surge using renewable energy that quickly, but you can if you mine coal. The whole thing seemed incomplete to me.

He recalls that the announcement about using bitcoin to buy Tesla vehicles came after Musk made a $1.5 billion purchase of the world’s largest and most popular digital currency.

Musk is now confident that the bitcoin world is increasingly switching to renewable energy. In a follow-up to the previous interview, he commented that he believes the amount of clean energy used to mine BTC today is over 50%, and as long as that number continues to rise, he says that Tesla will easily accept BTC again without a problem.

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Plan ₿ Bitcoin Business Summer School opens in July

Plan₿ Summer School is an opportunity for those interested in bitcoin and business to learn the ins and outs of the ecosystem and develop real-world solutions.

The Plan₿ summer school begins July 3-16 and seeks to teach students the fundamentals of Bitcoin and business.

Classes taught by industry experts will be held in Lugano, Switzerland.

Students who attend will participate in a pitching competition with the winners taking home up to $5,000 for a winning pitch.

Plan₿ summer school, a cohort course that teaches students the challenges of business in relation to the regulatory and technological implications facing the Bitcoin ecosystem, is in session from July 3 to 16, according to an announcement.

The class will take place in Lugano, Switzerland. Students will learn about the Bitcoin protocol, the Lightning Network as a Layer 2 solution, stablecoins, the consensus mechanism used by cryptocurrencies, and the fundamentals of the space.

Experts will demonstrate the ins and outs of smart contracts and their operation on Bitcoin while discussing real-world applications and use cases. Students will also gain knowledge related to anti-money laundering (AML) compliance, on-chain analytics, and gain a deeper understanding of cybersecurity, among other subjects.

Course teachers will introduce students to real-world problems that need a solution. At the end of the two-week course, students will participate at a group level to present an idea for a problem presented by the teachers. A jury of space experts will preside over the results of the field competition and prizes will be awarded to the top three teams.

First place winners will receive $5,000, while second place will win $2,500 and third place will take home $1,500, with a total of $9,000 in prizes up for grabs.

The extensive list of speakers and speakers features many experts in the field. Adam Back, CEO of Blockstream, David Suleima, Assistant Professor of Finance at Franklin University of Switzerland, Zulfi Moledina, Training Specialist at Chainalysis, and Paolo Ardoino, CTO at Tether and Bitfinex, have signed on to provide high-level discussions on their respective specializations .