Russia’s central bank has granted Sberbank, the country’s largest bank, a license to issue and exchange digital assets. Using its platform, companies can now issue their own digital assets, attract market investments, or make other digital asset-related transactions.

In its fiscal fourth-quarter earnings report, GameStop revealed it plans to launch a non-fungible token (NFT) marketplace by the end of July. The firm partnered with layer-2 system Immutable X to launch its NFT plans earlier this year.

Coinbase Wallet has added support for Solana (SOL) and its ecosystem of Solana tokens citing surging interest in the cryptocurrency’s network over the past 12 months as investors look for low-cost alternatives to Ethereum.

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Top stories in the Crypto Roundup today:

• Russia’s Largest Bank Gets License to Issue Digital Assets
• GameStop to Launch NFT Marketplace by End of July
• Coinbase Wallet Adds Solana Support
• Crypto Market Movers – LUNA, KNC, ZEC
• Sponsored: Register for a Rewarding Bybit Experience

Russia’s Largest Bank Gets License to Issue Digital Assets

Russia’s central bank has granted Sberbank, the country’s largest bank, a license to issue and exchange digital assets. Using its platform, companies can now issue their own digital assets, attract market investments, or make other digital asset-related transactions.

Sergey Popov, director of the transaction business division at Sberbank, said the bank is “just starting” its work with digital assets, adding that companies will be able to make their first transactions on its blockchain in a month.

Sberbank is a state-owned bank that is being sanctioned by the U.S. and the European Union. It holds the largest share of savings deposits in Russia and is the main creditor of the country’s economy.

The central bank of Russia had in the past warned that cryptocurrencies could be used for illegal activity.

GameStop to Launch NFT Marketplace by End of July

In its fiscal fourth-quarter earnings report, GameStop revealed it plans to launch a non-fungible token (NFT) marketplace by the end of July. The firm partnered with layer-2 system Immutable X to launch its NFT plans earlier this year.

The partnership, GameStop said, would provide it with up to $150 million in Immutable X IMX tokens upon achievement of specific milestones. The video game retailer has also said it hired people in Q4 with experience in areas including blockchain gaming and e-commerce.

The retailer reported a fiscal fourth-quarter loss of $1.94 per share, versus the consensus analyst estimate of an $0.85 gain. The firm said on its earnings call it sees long-term potential in the NFT market.

When GameStop first announced its NFT marketplace it said it expected to include “billions of low-cost, in-game assets.”

Coinbase Wallet Adds Solana Support

Coinbase Wallet has added support for Solana (SOL) and its ecosystem of Solana tokens citing surging interest in the cryptocurrency’s network over the past 12 months as investors look for low-cost alternatives to Ethereum.

The expanded wallet support comes shortly after the Nasdaq-listed cryptocurrency exchange launched Coinbase Pay, which enables users to fund their wallets directly via the Coinbase Wallet browser extension.

Following the addition, Coinbase Wallet now supports Ethereum, Avalanche, Polygon, the BNB Chain, Dogecoin, Litecoin, Bitcoin, Stellar Lumens, and the Ripple network.

Crypto Market Movers – LUNA, KNC, ZEC

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Terra (LUNA) - Terra was developed by South Korean blockchain company Terraform Labs. It’s a Poof-of-Stake blockchain with LUNA being used in the “issuance of stablecoins (TerraSDRs), as a price stability mechanism, as well as for staking and network governance.”

 Kyber Network (KNC) - KyberNetwork is an on-chain protocol which allows instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with high liquidity.

Zcash (ZEC) - ZCash is a privacy driven cryptocurrency. It uses the Equihash as an algorithm, which is an asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem. It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC development unfeasible. 

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