Day: April 6, 2023

Germany plans to issue electronic shares on blockchain, boost startups

Ana Paula Pereira

The German government is pushing for more welcoming regulations for startups working with financial innovation in the country, according to the newly drafted legislation of the “Future Finance Act” introduced by the finance ministry on April 5.  Key goals of the legislation include capital markets digitalization through the issuance of electronic securities on a blockchain and improved portability of crypto assets. According to a translated version of the draft bill, Germany’s “capital market should become more modern and efficient in order to mobilize more private capital for future investments.” Among…

Avalanche introduces ‘Evergreen’ subnets to connect institutions on blockchain

Helen Partz

Ava Labs, the developer of the Avalanche layer-1 blockchain platform, is introducing new institutional deployments to improve the blockchain environment. On April 6, Ava Labs introduced Avalanche Evergreen Subnets, a suite of institutional blockchain tooling and customizations designed to address company-specific requirements for financial services. The new product aims to allow institutions to maintain control over their blockchain environment while enabling intercompany communication, Ava Labs’ institutional business development director, Morgan Krupetsky, told Cointelegraph. “Currently, many institutions are building use cases on enterprise blockchains such as Corda, Hyperledger, Quorum or R3, which…

Nigerian crypto foreign investment is at a record low: Study

Amaka Nwaokocha

The largest economy in Africa has a foreign investment problem despite exponential growth in crypto adoption. The National Bureau of Statistics (NBS) reported on Tuesday that foreign direct investment (FDI) in Nigeria, the largest economy in Africa, dropped by 33% last year due to a severe shortage of dollars. The shortage has also discouraged crypto companies from expanding into the country. In 2022, investment declined to $468 million from the previous year’s $698 million. According to the data, FDI has decreased by approximately 90% since its peak of $4.7 billion…