Global Banks Participate in Large-Scale Blockchain Pilot Test

Hi NoRamp Community,

Daily News:

1) Global Banks Participate in Large-Scale Blockchain Pilot Test

2) Solana NFT Marketplace Tensor Unveils Plans for TNSR Token

3) Ether.Fi Launches Non-Custodial Liquid Restaking Protocol

4) VoPay Expanding Embedded Payments with Cross River Partnership

5) Tensorflight & NEXT Insurance Partner for Advanced Property Analytics

Global Banks Participate in Large-Scale Blockchain Pilot Test:

• Major financial institutions like Goldman Sachs, BNY Mellon, and Cboe Global Markets completed a large-scale pilot test using blockchain technology, executing over 350 simulated transactions on the Canton network for tokenized assets, fund registry, digital cash, repo, securities lending, and margin management.

• The pilot included 15 asset managers, 13 banks, four custodians, three exchanges, and stablecoin issuer Paxos Trust, with 155 participants from 45 organizations demonstrating settlement across 22 permissioned blockchains connected to the Canton ledger.

• The Canton Network aims to facilitate seamless and risk-free transactions across different applications and blockchains, with participants including Deloitte, Deutsche Börse, Microsoft, Moody’s, and S&P Global, as tokenization gains interest from institutional investors and celebrities.

Solana NFT Marketplace Tensor Unveils Plans for TNSR Token:

• The Tensor Foundation, supporting the Solana NFT marketplace Tensor, outlined plans for the TNSR token, emphasizing the goal of expanding NFTs beyond a niche community to power industries and reach billions of traders.

• Despite not mentioning a TNSR airdrop, the Foundation highlighted a previous "Season 1 airdrop" that rewarded Solana NFT collectors based on their trading activity.

• The Foundation praised Solana's blockchain for its speed, low cost, and high throughput, noting that Tensor protocols have traded over $2 billion worth of Solana NFTs and facilitated over 70% of Solana's NFT trading volume in the last 90 days. The TNSR token will serve as a governance token, and the Foundation aims to foster an ecosystem of creators and builders to ensure the success of NFTs in Web3.

Ether.Fi Launches Non-Custodial Liquid Restaking Protocol:

• Ether.Fi, a new staking protocol for Ethereum, has launched its non-custodial liquid restaking solution, allowing participants to retain control of their keys while delegating staking. The protocol natively re-stakes deposits with Eigenlayer to increase yield for ETH stakers.

• The native utility and governance token for Ether.Fi is $ETHFI, with a total supply of 1 billion and a circulating supply of 115.2 million upon listing. The community will use $ETHFI to govern the Ether.Fi treasury, protocol upgrades, and fee distributions.

• Ether.Fi's token distribution includes allocations to the Binance Launchpool, an airdrop, investors and advisors, the team, the Protocol Guild, the DAO Treasury, and liquidity. The Binance Launchpool allocation of 20 million ETHFI tokens begins on March 14, 2024. Ether.Fi aims to provide greater flexibility and control for ETH stakers and support the growth and security of the Ethereum ecosystem.

VoPay Expanding Embedded Payments with Cross River Partnership:

• VoPay, a Canadian embedded payments technology provider, is expanding into the U.S. market through a partnership with Cross River Bank, gaining access to major payment rails, networks, and regulatory expertise.

• The collaboration will enable VoPay to offer a variety of payment services, including ACH, Same-Day ACH, RTP, FedNow® Service, and Pull-from-Card, enhancing its financial services coverage across North America.

• VoPay aims to transform the FinTech landscape by leveraging open banking to provide transparent, efficient, and secure money movement, eliminating data silos and improving real-time cash flow positioning for businesses.

Tensorflight & NEXT Insurance Partner:

• Tensorflight has partnered with NEXT Insurance to automate commercial property inspections, enhancing NEXT's commercial underwriting process with advanced property data and risk models.

• The collaboration aims to transform the purchasing and servicing experience for small business owners by integrating Tensorflight's machine learning models into NEXT's digital solutions, resulting in faster, more accurate underwriting and pricing.

• The partnership supports Tensorflight's goal of working with innovative insurers to bring advanced analytics across the policy lifecycle, helping carriers like NEXT achieve profitable growth through more accurate pricing segmentation.

NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.