According to a recent announcement from The National Bitcoin Office (ONBTC) in El Salvador, the country’s Digital Assets Commission has given the green light for the issuance of the long-awaited Bitcoin bonds, also dubbed “Volcano Bonds.”

M&G Investments, the asset management division of M&G Plc, has invested $20 million in UK-based crypto derivatives trading platform Global Futures and Options (GFO-X).

China's Blockchain-based Service Network (BSN), the country’s national blockchain initiative, has announced the use of blockchain technology for verifying the real-name identities of its 1.4 billion citizens.

Top stories in the Crypto Roundup today:

• El Salvador to Issue Bitcoin Bonds in Q1 2024
• Pension Fund Manager M&G Invests $20M in UK Crypto Derivatives Platform
• China Launches Blockchain-Based Real-Name Identity System for 1.4 Billion Citizens
• OKX and Bybit Capitalise as Binance's Market Share Declines

El Salvador to Issue Bitcoin Bonds in Q1 2024

According to a recent announcement from The National Bitcoin Office (ONBTC) in El Salvador, the country’s Digital Assets Commission has given the green light for the issuance of the long-awaited Bitcoin bonds, also dubbed “Volcano Bonds.”

The bonds are expected to hit the market in the first three months of 2024 after they first became a possibility back in November 2021. These Volcano Bonds are meant to pay down sovereign debt and fund the construction of El Salvador’s proposed Bitcoin City.”

The bond will be launched on Bitfinex Securities Platform, a platform for trading blockchain-based stocks and bonds that is registered in El Salvador, the ONBTC stated. The issuance of these bonds marks the start of the nation’s Bitcoin-based financial markets and offers holders a 6.5% yearly return for a decade.

Its launch comes shortly after El Salvador launched a 241-megawatt Bitcoin mining project that will tap into the country’s volcanic resources.

Pension Fund Manager M&G Invests $20M in UK Crypto Derivatives Platform

M&G Investments, the asset management division of M&G Plc, has invested $20 million in UK-based crypto derivatives trading platform Global Futures and Options (GFO-X).

The investment is part of a $30 million Series B funding round, with the funds being allocated from M&G’s Crossover strategy on behalf of the £129 billion ($161.9 million) Prudential With-Profits Fund.

Earlier this year, GFO-X formed a strategic partnership with LCH, which is majority-owned by the London Stock Exchange Group. This collaboration aims to use LCH’s new service, DigitalAssetClear, for clearing Bitcoin index futures and options on GFO-X’s platform.

While DigitalAssetClear is slated to become operational by the end of 2023, pending regulatory approval, the launch of GFO-X's service is now expected in the first quarter of 2024.

China Launches Blockchain-Based Real-Name Identity System for 1.4 Billion Citizens

China's Blockchain-based Service Network (BSN), the country’s national blockchain initiative, has announced the use of blockchain technology for verifying the real-name identities of its 1.4 billion citizens.

This initiative, led by the Ministry of Public Security and named RealDID, raises concerns among data-privacy advocates. RealDID allows users to register and log into websites anonymously using decentralized identity (DID) addresses and private keys, keeping business data and transactions separate from personal information.

In a related move, China's top six social media platforms, including WeChat, Sina Weibo, Douyin, Kuaishou, Bilibili, and Xiaohongshu, now require high-profile content creators – those with 500,000,1 million followers or more - to disclose their real names or those of their financial backers. The policy aims to increase credibility and allow for public supervision.

BSN, which is run by China's National Information Center in partnership with China Mobile and China UnionPay, claims RealDID to be the world's first national-level, real-name decentralized identity system.

OKX and Bybit Capitalise as Binance's Market Share Declines

In November, Binance secured its position as the leading derivatives exchange with a trading volume of $1.26 trillion, marking a 30.5% increase from October. OKX followed with a significant volume of $660 billion, up 53.8%, while Bybit traded $375 billion, witnessing a 42.9% rise.

Notably, OKX and Bybit emerged as the top-performing derivatives exchanges for the month, registering increases of 53.8% and 42.9%, respectively. Among the top 11 derivatives exchanges, Binance dominated with a 47.7% market share in October, while OKX trailed with a 24.9% share, and Bybit established a strong presence with 14.2%, marking its highest-ever market share in derivatives trading.

Dig deeper into the world of cryptocurrency trading with CCData’s latest Exchange Review report.

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