Uniswap version 3.0 is live, an upgrade widely expected to make the automated market maker much more attractive for cryptocurrency traders and funds. The decentralized exchange, which appeared on Ethereum in late 2018, is currently the fourth-largest decentralized finance (DeFi) application on that blockchain, with $7 billion in assets staked.

Galaxy Digital, a crypto and blockchain-focused financial services and investment manager founded by Mike Novogratz, is set to acquire institutional crypto custodian service and wallet operator BitGo.

Stone Ridge, a subsidiary of a $10 billion New York-based asset manager, has partnered with fintech giant Fidelity National Information Services to enable customers of some U.S. banks to buy and sell bitcoin through their existing accounts, according to the two firms.

Webinar: Join Us Today For a Live Discussion on Asset Management Featuring Bytetree, Copper, 21Shares, Coinshares, and 3IQ

Top stories in the Crypto Roundup today:

• Uniswap v3 Is Live as DEX Aims to Become Ethereum’s No. 1
• Galaxy Digital to Acquire Crypto Custodian and Services Provider BitGo
  
• Bitcoin is Coming to Hundreds of U.S. Banks This Year
• Webinar: Join Us Today for a Live Discussion on Asset Management

Uniswap v3 Is Live as DEX Aims to Become Ethereum’s No. 1

Uniswap version 3.0 is live, an upgrade widely expected to make the automated market maker much more attractive for cryptocurrency traders and funds. The decentralized exchange, which appeared on Ethereum in late 2018, is currently the fourth-largest decentralized finance (DeFi) application on that blockchain, with $7 billion in assets staked.

The company behind the Uniswap protocol, Jump Capital, announced version 3 was coming in late March and now the automated market maker (AMM) is rolling it out in the middle of a crypto bull run. Peter Johnson, from Jump Capital, said:

“Uniswap v3 is a big step forward for the protocol. The increased flexibility it provides market makers on how they provide liquidity into the protocol makes liquidity provisioning more attractive and should make trading on Uniswap more efficient for traders.”

Galaxy Digital to Acquire Crypto Custodian and Services Provider BitGo

Galaxy Digital, a crypto and blockchain-focused financial services and investment manager founded by Mike Novogratz, is set to acquire institutional crypto custodian service and wallet operator BitGo.

According to an announcement on Wednesday, Galaxy Digital Holdings will pay $1.2 billion in stock and cash to settle the deal. Under the acquisition’s terms, BitGo shareholders will get 33.8 million in newly issued shares of Galaxy Digital, in addition to $265 million in cash.

In a statement, a Galaxy Digital representative said that the company believes the acquisition will “position Galaxy Digital as a leading global full-service platform for institutions seeking access to the crypto economy, offering an unparalleled breadth of industry-leading products and services at scale.”

Bitcoin is Coming to Hundreds of U.S. Banks This Year

For the first time, customers of some U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts. Stone Ridge, a subsidiary of a $10 billion New York-based asset manager, has partnered with fintech giant Fidelity National Information Services to enable customers of some U.S. banks to buy and sell bitcoin through their existing accounts, according to the two firms.

Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG. While the firm is in discussions with some of the biggest U.S. banks, many of the lenders that have agreed to participate are smaller institutions like Suncrest, a California-based community bank with seven branches.

“What we’re doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationships,” Sells said. “If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold bitcoin.”

Webinar: Join Us Today For a Live Discussion on Asset Management Featuring Bytetree, Copper, 21Shares, Coinshares, and 3IQ

Later today, (6th May, 12 PM EST / 5 PM BST) we will be hosting and concluding our Digital Asset Trading and Technology Webinar series. Today’s session will explore the current landscape and opportunities surrounding digital asset management and consider what the future of managing crypto assets may entail. This includes: 

• What strategies are available for professionals and institutions entering the space? 
• Whether participants are relying on existing strategies or building new approaches that are unique to crypto? 

We hope to see you there!

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