Itau Unibanco Selected by Central Bank of Brazil to Build a DeFi Liquidity Pool
Daily Market Wrap
Crypto market cap: 0.99 trillion, up 1.71%
BTC price stands at USD 20,361, up 0.01%
ETH price stands at USD 1,591, up 3.83%
Top gainer: Lido DAO (LDO), up 12.79%
Top loser: Helium (HNT), down 9.67%
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
Daily Sector Tracker
Daily News Roundup
FBI Asks DeFi Platforms to Beef Up Security Measures and Warns Investors Against Vulnerabilities https://bit.ly/3e0sglL
Dubai-Based Virtuzone Has Begun Accepting Cryptocurrency Payments via Binance Pay https://bit.ly/3wFyBcJ
South Korean Telecoms Firm LGU+ Will Issue A New Batch of NFTs Next Month https://bit.ly/3Ax2c9A
SBF Denies FTX Has Plans to Acquire Huobi https://bit.ly/3TjTT9A
JPMorgan Blockchain Head Said That Most of Crypto Are Still Junk https://bit.ly/3KtGh7I
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