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Itau Unibanco Selected by Central Bank of Brazil to Build a DeFi Liquidity Pool

Daily Market Wrap

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  • Top gainer: Lido DAO (LDO), up 12.79%

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News of the Day


Itau Unibanco has been selected by Brazil’s central bank to build a DeFi liquidity pool.


Why it matters:

  • Itaú Unibanco, one of the biggest bank conglomerates in Brazil, has been selected by the country’s central bank to work on a system with a stablecoin pegged to the value of the Brazilian real

  • The system was one of the eight proposals selected by the Central Bank of Brazil as part of the Laboratory of Financial and Technological Innovations (LIFT), the government’s public program that seeks to strengthen financial inclusion

  • Seven other projects were announced by the Banco Central do Brasil, including include a solution for granting credits to vulnerable people in the Brazilian favelas that involves people of the community as facilitators of these grants, and so on


Crypto Daily Spotlight


Meta plans to expand NFT features to both Facebook and Instagram this week.


Brief introduction: Facebook (the parent company) rebranded its name to Meta last year, in reference to the metaverse, which combines social media with virtual and augmented reality. Starting in March 2022, its VR product line also changed its social media, and websites to Meta Quest.


Why it matters:

  • Meta announced today that it will allow users to post their NFTs across both Instagram and Facebook. It has been testing support for NFT “digital collectible” posts on Instagram since May

  • “As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram. This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both,” Meta said in its blog post

  • Apart from extending support for showcasing different NFTs, Zuckerberg had mentioned that Meta will work on displaying NFTs through Instagram Stories earlier in the year


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About Aspen Digital


Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.


For more information, please visit https://www.aspendigital.co/


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