French banking giant BNP Paribas is entering the cryptocurrency custody space through a new partnership with Swiss digital asset safekeeping firm Metaco, in a deal that’s significant to BNP Paribas Securities Services’ position as a major global custodian.

Liquid staking protocol, Lido Finance, is scaling its staked ether (stETH) product to layer-2 Ethereum protocols as the second-largest cryptocurrency by market capitalization nears the long-awaited Merge to a Proof-of-Stake system.

Crypto.com has become the latest cryptocurrency exchange to gain regulatory approval in Italy from the Organismo Agenti e Mediatori (OAM). The approval allows the firm to provide virtual currency and digital wallet services in the country.

Sponsored: CryptoCompare is thrilled to be a media partner of Zebu Live, the UK's most highly anticipated crypto, blockchain, and web3 conference, hosted in London from September 22-23 and streamed globally. The goal of Zebu Live is to bring together the people of web3 to work together towards mainstream adoption and we hope you’ll join us and 1200+ others in attending.

Top stories in the Crypto Roundup today:

• French Bank BNP Paribas to Offer Crypto Custody
• Lido Finance Brings Staked Ether to Layer-2 Protocols
• Crypto.com Receives Regulatory Approval in Italy
• Sponsored: Zebu Live: The UK's Most Highly Anticipated Crypto, Blockchain, and web3 Conference

French Bank BNP Paribas to Offer Crypto Custody

French banking giant BNP Paribas is entering the cryptocurrency custody space through a new partnership with Swiss digital asset safekeeping firm Metaco, in a deal that’s significant to BNP Paribas Securities Services’ position as a major global custodian.

BNP Paribas holds almost $13 trillion in assets under custody and is moving into the cryptocurrency custody space along with a number of large banks.

Metaco, which recently inked a custody tech deal with French bank Societe Generale, already announced crypto custody deals with the likes of Citigroup, BBVA, Zodia Custody, and DBS.

For Citi and SocGen, Metaco is set to provide services focusing on security tokens, such as tokenized versions of stocks or other financial assets, with a smaller emphasis on native cryptocurrencies.

Lido Finance Brings Staked Ether to Layer-2 Protocols

Liquid staking protocol Lido Finance is scaling its staked ether (stETH) product to layer-2 Ethereum protocols as the second-largest cryptocurrency by market capitalization nears the long-awaited Merge to a Proof-of-Stake system.

Lido has said it’s supporting a wrapped version of stETH called wstETH on layer-2 networks, a move that the organization believes will allow stETH to increase its market capitalization and usage while redoing fees investors pay.

Investors can stake their ETH on Ethereum's Beacon Chain to earn rewards from staking. The funds are, however, locked until after the Merge occurs. Lido’s stETH provides investors with a token representing staked ETH earning yield that can be used. To redeem stETH, users will have to wait until the Merge is complete and tokens are unlocked.

Adding stETH to layer-2 networks via wstETH will allow investors to use these tokens on networks with smaller transaction fees that support popular Ethereum protocols, including Uniswap and SushiSwap.

The move comes nearly a month after Curve’s liquidity pool for stETH nearly ran out of ETH, which made it hard for investors to cash out.

Crypto.com Receives Regulatory Approval in Italy

Crypto.com has become the latest cryptocurrency exchange to gain regulatory approval in Italy from the Organismo Agenti e Mediatori (OAM). The approval allows the firm to provide virtual currency and digital wallet services in the country.

Kris Marszalek, co-founder and CEO of Crypto.com, said:

“We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.”

The exchange, which said it has over 50 million users worldwide, is joining a number of other exchanges that have been approved in Italy, including Coinbase and Binance.

Zebu Live: The UK's Most Highly Anticipated Crypto, Blockchain, and web3 Conference

CryptoCompare is thrilled to be a media partner of Zebu Live, the UK's most highly anticipated crypto, blockchain, and web3 conference, hosted in London from September 22-23 and streamed globally. The goal of Zebu Live is to bring together the people of web3 to work together towards mainstream adoption and we hope you’ll join us and 1200+ others in attending.

They have recently announced Steven Bartlett as their headline speaker. Steven Bartlett is an Entrepreneur, Speaker, Investor, Author, BBC Dragon, and the host of one of Europe's biggest podcasts, 'The Diary of a CEO'.

In addition to Bartlett, Zebu Live will feature 100 experienced, change-making leaders as speakers from traditional brands breaking into web3 and established web3 companies. These include:

• Stani Kulechov - Co-Founder and CEO, Aave
• Robby Yung - CEO of Animoca Brands
• Sarah Buxton - COO, Gala Games / Gala Music
• Matt Hancock - Member of Parliament in the United Kingdom
• Rita Martins - Head of FinTech Partnerships, HSBC
• Justin Edwards - CEO Of Verse Digital And Ex-Coo Of Decentraland
• Michela Silvestri - Business Development, Huobi Global
• Mark Sugden - Business Development and Partnerships, NEAR
• Samia Bayou - Vice President, Global Head Of Private Clients, Blockfi

They will speak on 30+ topics in the focus of digital assets and digital ownership including DeFi, NFTs, the Metaverse, DAOs, and Gaming.

Zebu Live will also be helping to organize London Web3 Week alongside headlining media partner CityAM's CryptoAM; the prominent UK crypto news outlet. This is a week-long culmination of events running from September 19-25 featuring top web3 brands and London-based communities such as Luno, NEAR, Algorand, Avalanche, Swissborg, Crypto Mondays, Web3 London, ETH LDN, and more. It will have exciting community meetups, networking events, and after parties. The week will conclude with an afterparty at the newly refurbished KOKO nightclub to solidify new connections featuring drinks, food, and top UK web3-loving DJ’s!

We’re thrilled to offer readers 25% off tickets to the event and hope to see you there:
www.eventbrite.co.uk/e/266434742487/?discount=Cryptocompare25

 

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