Monad aims to expand the ecosystem with a new Foundation

The Monad blockchain project, compatible with Ethereum’s virtual machine, has introduced the Monad Foundation to advance the network’s growth and decentralisation. The Foundation will focus on validator-led governance, community improvement proposals, and ecosystem expansion, providing essential resources to developers while promoting adoption.

Amid speculation of a potential token launch, the Monad Foundation aims to ensure transparency in governance processes. Leadership includes Keone Hon and Eunice Giarta, alongside team members from Monad Labs, now renamed Category Labs, which will concentrate on software development and research under new CEO James Hunsaker.

This restructuring mirrors trends in blockchain projects, dividing governance and ecosystem efforts from technical development. With EVM compatibility, Monad is positioned to attract developers familiar with Ethereum tools, accelerating innovation and adoption.

Bitget secures Bitcoin service licence in El Salvador

Bitget has secured a Bitcoin Service Provider licence from El Salvador’s Central Reserve Bank, allowing the platform to offer Bitcoin-to-fiat exchanges, payments, and custody services in the country. This licence is part of Bitget’s strategy to strengthen its global regulatory position and expand its presence in Latin America.

El Salvador, which made Bitcoin legal tender in 2021, has become a hub for cryptocurrency adoption. With this new licence, Bitget aims to tap into the country’s growing crypto market, which serves as a gateway to the wider region. The company is also pursuing a Digital Assets Service Provider licence from El Salvador’s National Commission of Digital Assets to extend its services to other cryptocurrencies.

In addition to its progress in Latin America, Bitget has secured Virtual Asset Service Provider licences in Poland and Lithuania and recently re-entered the UK market through a partnership with Archax. The company also plans to set up a dedicated team in El Salvador to strengthen its local presence.

Ripple’s RLUSD stablecoin debuts globally

Ripple has confirmed that its RLUSD stablecoin, backed by the US dollar, will begin trading globally on 17 December. The launch follows approval from the New York Department of Financial Services (NYDFS) on 10 December. Ripple’s RLUSD stablecoin is 100% supported by US dollar deposits, short-term government Treasurys, and other cash equivalents. Initially, it will be available on major crypto platforms such as Uphold, MoonPay, and Archax, with plans for further listings in the coming weeks.

Ripple aims to target global adoption of RLUSD, with its partner network facilitating its use across regions including the Americas, Asia-Pacific, the UK, and the Middle East. The company plans to integrate RLUSD into its Ripple Payments protocol by early 2025 to support cross-border settlement and treasury remittance. Ripple also envisions RLUSD playing a role in decentralized finance protocols and trading tokenized real-world assets on-chain.

As part of the RLUSD launch, Ripple has appointed former banking officials, including Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former vice president of the Federal Reserve Bank of Boston, to its advisory board. These appointments are aimed at strengthening the stablecoin’s regulatory and operational strategy. Ripple’s focus on compliance and reliability aims to position RLUSD as a leading player in the future of global payments.

Revitalising trust with AI: Boosting governance and public services

AI is reshaping public governance, offering innovative ways to enhance services and restore trust in institutions. The discussion at the Internet Governance Forum (IGF) in Riyadh, moderated by Brandon Soloski of Meridian International, focused on using AI to streamline services like passport processing and tax systems, while also addressing privacy and data sovereignty concerns. Open-source AI was highlighted as a critical tool for democratising access and fostering innovation, particularly in developing nations.

Global regulatory frameworks were a central theme, with panellists underscoring the need for harmonisation to avoid fragmentation and ensure seamless interoperability across borders. Economist and policy analyst at the OECD, Lucia Russo, discussed regulatory approaches such as the EU AI Act, which aims to create a comprehensive legal framework. Brandon Soloski and Sarim Aziz from Meta pointed to the benefits of principle-based frameworks in other regions, which provide flexibility while maintaining oversight. Pellerin Matis, Vice President of Global Government Affairs at Oracle, emphasised the importance of public-private partnerships, which allow governments to leverage private sector expertise and startup innovation for effective AI implementation.

The panellists explored how AI can enhance public services, highlighting its role in healthcare, agriculture, and public safety. Examples included AI-driven tools that improve patient care and streamline food production. However, challenges like data protection, trust in AI systems, and the balance between innovation and regulation were also discussed. Anil Pura, an audience member from Nepal, contributed valuable perspectives on the need for education and transparency to foster public trust.

Transparency and education were recognised as fundamental for building trust in AI adoption. Panellists agreed that ensuring citizens understand how AI technologies work and how their data is protected is essential for encouraging adoption. They called for governments to work closely with civil society and academia to create awareness and promote responsible AI use.

The discussion concluded with a call to strengthen collaborations between governments, private companies, and startups. Brandon Soloski highlighted how partnerships could drive responsible AI innovation, while Pellerin Matis stressed the importance of ethical and regulatory considerations to guide development. The session ended on an optimistic note, with panellists agreeing on AI’s immense potential to improve government efficiency and enhance public trust.

All transcripts from the Internet Governance Forum sessions can be found on dig.watch.

Société Générale and Banque de France push blockchain innovation

Société Générale has achieved a milestone by conducting the first repo transaction using blockchain within the Eurosystem. The transaction carried out with Banque de France through Société’s digital asset subsidiary Forge, involved tokenised bonds issued on Ethereum in 2020 as collateral. Central bank digital currency (CBDC) issued by Banque de France was exchanged as cash, showcasing the potential of blockchain in modern financial operations.

The move highlights the feasibility of conducting interbank refinancing on-chain. Société Générale stated that using CBDCs for such transactions could improve liquidity for digital financial securities. Tokenisation, which converts traditional securities into digital tokens, offers faster settlement times and an immutable record of transactions, making it a promising technology for the financial sector.

Banque de France has been actively exploring CBDC use cases since 2021, including cross-border transactions and collaborations with global partners like the Hong Kong Monetary Authority. Meanwhile, Société Générale continues to expand its digital asset operations, including launching its euro-denominated stablecoin EUR convertible. The bank’s innovative efforts reflect its position as one of the world’s largest financial institutions.

Thailand embraces digital finance transformation to enhance competitiveness

Thailand’s former Prime Minister, Thaksin Shinawatra, has urged the government to delve deeper into cryptocurrencies to stay competitive in an increasingly digital world. Speaking at a lecture in Hua Hin, Shinawatra highlighted the growing importance of understanding digital assets, noting that global digitisation reshapes economies. He remarked on the proliferation of cryptocurrencies and emphasised that Thailand must adapt to avoid falling behind.

The country has already taken significant steps in exploring the digital economy. The Securities and Exchange Commission launched a regulatory sandbox earlier this year, allowing businesses to experiment with digital assets in a controlled environment. Meanwhile, the government fulfilled its campaign promise to distribute 10,000 baht in digital cash to 45 million residents as an economic stimulus.

Private institutions are also making moves, with Kasikornbank becoming Thailand’s first licensed crypto custodian in September. Regulatory shifts have further opened the door for mutual and private funds to invest in digital assets. Additionally, the Bank of Thailand collaborates with Hong Kong on tokenised cross-border settlements, cementing its role in shaping the region’s digital finance future.

Tokenisation could revolutionise the global property market

The global real estate market, valued at $379.7 trillion in 2022, stands as one of the largest in the world. With blockchain technology now playing a growing role, property rights can be tokenised, automating the buying, selling, and transferring processes. This transformation not only increases efficiency but also enhances liquidity within the market.

Tokenising real estate enables fractional ownership, allowing smaller investors to access a traditionally exclusive asset class. By breaking down ownership into tradable tokens, blockchain opens up opportunities for a broader range of participants, particularly those facing barriers to homeownership such as high prices and inflation.

Additionally, blockchain enables faster processing times for transactions and eliminates intermediaries, reducing costs for investors. Real estate tokens are already being used in projects like the “World Liberty” token, backed by Donald Trump Jr., showcasing how blockchain could reshape the industry by integrating real estate with decentralised finance.

With the market for tokenised assets predicted to reach between $10 trillion and $16 trillion by 2030, real estate tokens are expected to revolutionise investment options, making the sector more dynamic and accessible.

Bitcoin soars to new ATH above $106,000

Bitcoin surged to a record $106,509 on Sunday before settling at $103,804.71 on Monday as investors watched for an expected interest rate cut from the Federal Reserve later this week. The flagship cryptocurrency is up nearly 8% this month and an astonishing 145% for the year, reflecting growing confidence in its future. Ether also rose, approaching the $4,000 mark, while the broader crypto market remained steady.

Anticipation of a 25-basis-point interest rate cut has fuelled optimism among Bitcoin investors. Lower rates, which weaken the dollar and expand the money supply, have historically correlated with higher Bitcoin prices. Bitcoin’s performance is now likened to tech stocks, which also thrive in low-rate environments.

Meanwhile, shares of MicroStrategy jumped 4% after the company announced its inclusion in the Nasdaq 100 and QQQ ETF. This news further bolstered market sentiment, as institutional interest in Bitcoin and related stocks continues to rise.

Texas submits Bitcoin reserve bill amid crypto adoption surge

Texas has taken a bold step towards Bitcoin adoption with Republican State Representative Giovanni Capriglione introducing a bill to establish a state Bitcoin reserve. The legislation, submitted during a 12 Dec. X Spaces event, proposes collecting taxes, fees, and donations in Bitcoin to safeguard against inflation and promote financial resilience. Capriglione emphasised flexibility, aiming to make the bill as adaptable as possible to secure support from policymakers.

The push for Bitcoin adoption follows Donald Trump’s Nov. 6 political success, which spurred renewed enthusiasm for cryptocurrency. Trump has pledged to maintain America’s 207,000 Bitcoin holdings, while other states, such as Alabama, have also begun exploring their own Bitcoin reserves. The trend has gained traction with several states passing laws protecting crypto mining, self-custody, and peer-to-peer transactions.

While proponents argue for Bitcoin’s long-term benefits, critics like Charles K. Bobrinskoy caution against government adoption, labelling Bitcoin as a speculative bubble. However, institutional interest continues to grow, with firms like BlackRock and Kraken recommending limited Bitcoin allocations as digital assets become increasingly central to investment strategies.

Russian police arrest 300 in major crypto scam bust

Russian authorities have arrested over 300 individuals in Moscow during a major crackdown on an alleged international cryptocurrency scam ring. The Ministry of Internal Affairs revealed that the group operated several fraudulent call centres, using around 500 workstations to target victims in over 20 countries. The suspects reportedly persuaded individuals to invest in fake cryptocurrency platforms before disappearing with their funds.

Investigators believe the ring was tied to a broader international network led by Yegor Burkin, a fugitive associated with the Khimprom organised crime group, also known for drug smuggling activities. Police claimed that some stolen funds may have been used to support the Ukrainian Armed Forces, adding a geopolitical angle to the case.

Officials highlighted the increasing sophistication of crypto scams, with fraudsters using spoofed phone numbers, fake documents, and professional terminology to appear legitimate. The Ministry warned that such scams are on the rise, with many targeting foreign nationals and employing multilingual staff to reach victims worldwide.