Sony Group's Bank is developing its own Stablecoin

  What : The banking arm of Japanese entertainment conglomerate Sony has launched a proof-of-concept to issue its own Japanese yen-backed stablecoin. For this, focus has also been placed on legal issues.  

  Why : The Sony group is attempting to build its own blockchain network to reap the benefits of Blockchain, with Web3 adopted in every branch of the group.

  Where : The new stablecoin will be tested on the Polygon blockchain. The development work will be handled by Belgium-based blockchain firm SettleMint.

OTHER NEWS 

BLOCKCHAIN

• POLKADOT : Cross-chain app developers invited to Moonbeam : Polkadot's main smart contract platform Moonbeam Network hosts 300+ projects, including Brazil's BRZ stablecoin. Moonbeem offers multiple essential features for developers via the Polkadot Relay Chain.

• SOLANA: Problem of failed non-vote transaction: High rate of bot generated spam transactions and mining of PoW tokens like ORE on Solana network are causing failed non-vote transaction problem.

BITCOIN

• LIGHTNING : Bitcoin Lightning for Coinbase : Coinbase CEO Brian Armstrong and LightSpark CEO David Marcus have announced a partnership to integrate the Bitcoin Lightning Network on Coinbase.

• NFT : Binance is stopping support of Bitcoin NFTs : Withdraw your Bitcoin NFTs from the Binance NFT marketplace before 2024-05-18 00:00 (UTC). Bitcoin NFTs may price may get hit in the NFT market after this announcement.

EARN

• FARMING : Binance's 51st Launchpool project : SAGA  : Binance announced its 51st Launchpool project Saga (SAGA). Saga is mentioned as "an L1 to launch L1s". Farming SAGA (via FDUSD and BNB) is available for 4 days -5th to 9th April. SAGA will be available for trading on 9th April at 14:00 (UTC).

• PREDICTION GAME : Kucoin Price Prediction Earn : Kucoin has started a price prediction game to earn. The campaign will run from April 5 to 8 (4 days).The user needs to predict ROOT vs. BTC, ETH, and SOL prices.A reward pool of $30k is announced; this includes a $5k daily pool and a $10k grand prize.

• HODL & EARN : GateIo Passive Earn for $GT Hodlers : Gate has introduced Electroneum, a Layer 1 EVM-compatible blockchain. Native token of Electroneum is ETN. Gate is giving Electroneum $ETN airdrop to minimum 10 $GT HODLers. Time of airdrop is April 9 to 11. 

TRADING

• COINBASE DERIVATIVE: Perpetual futures for $ORDI and $WLD : The ORDI-PERP and WLD-PERP markets will open at Coinbase International and Coinbase Advanced. on April 11, 2024 at 9:30 UTC (or after).

• NEW LISTING : Wormhole (W) Token : Cross-chain infrastructure Wormhole's W token, launched on Solanachain, is already listed on big exchanges like Binance, OKX, Kucoin, GateIo, Bitget etc.