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Global Digital Assets (GDA) partners with DigitalBits Ecosystem for Branded Cryptocurrency adoption
Merchant Bank Global Digital Assets (GDA) is joining the DigitalBits ecosystem, the company announced today. The goal of the partnership is to further enterprise adoption for branded cryptocurrencies. GDA is the first North American merchant bank to focus on blockchain and digital assets. It will provide the infrastructure for consumers, merchants, brands and payment providers to benefit from branded cryptocurrencies, including branded stablecoins.
GDA and its subsidiaries have worked with fortune 500 companies, such as Toronto Dominion Bank, governments in North America, the Caribbean, Africa and Asia, as well as some of the world’s largest digital ecosystems, such as TRX and the ONT networks. Founded through the combination of MLG Blockchain and Secure Digital Markets, GDA bridges enterprise solutions with digital markets to accelerate the adoption of blockchain technology within mainstream society. GDA will facilitate and support select enterprises focused on the generation and deployment of branded cryptocurrency solutions, inclusive of capital for the procurement of DigitalBits’ XDB tokens.
Both companies want to help bring blockchain to the average user. GDA will focus on introducing branded cryptocurrencies to existing clients and enterprises alike, generating further support for the emerging asset category of branded stablecoins.
“Brands and corporations may spur the next wave for banking the unbanked, and we believe that branded currencies may be the first glimpse of achieving this. With DigitalBits, we intend to bring this emerging asset category together with today’s digital banking solutions,” said GDA CEO Michael Gord.
Global Digital Assets is based in Toronto & New York City. It was founded during the combination of MLG Blockchain and Secure Digital Markets. The merchant bank offers a full-suite of services spanning from ventures and capital to markets and liquidity to provide end-to-end solutions to disruptive blockchain projects. Global Digital Assets’ management team has completed over three billion dollars of private placement or OTC transactions and has worked with a variety of firms ranging from family offices and HNWI, Fortune 100 enterprises, startups and global governments looking to accelerate their countries’ adoption of the blockchain.
DigitalBits is a blockchain protocol and network layer designed for consumer digital assets, specifically branded currencies. DigitalBits is focused on supporting innovators with driving enterprise adoption of cryptocurrency and its use in enhancing the consumer experience and corporate social responsibility initiatives.
Polkadot price has been under intense pressure for the past few days amid the recent bearish sentiment in the crypto market. At the time of writing, DOT was barely unchanged, trading at $5.351. The altcoin has dipped more than 25% for the past month but remains 24.23% higher in the year to date. The asset’s total market cap has slipped over the last day to $6.343 billion, ranking it the 13th largest cryptocurrency.
Is the Worst Yet to Come?
Polkadot price has been consolidating for the past few days amid the recent sell-off in the crypto market. Statistics by Coinmarketcap show that the global crypto market cap has dropped 1.29% over the last day to $1.13 trillion, while the total crypto market volume decreased by nearly 7%.
The biggest cryptocurrencies, Bitcoin and Ethereum, have been in a freefall for the past few days, falling to $26,880 and $1,807, respectively. Most altcoins, including BNB, Cardano, Solana, Shiba Inu, and Avalanche, have plunged seeing that most altcoins move in tandem with the performance of heavyweights Bitcoin and Ethereum.
Looking ahead at the global market mayhem with the US debt ceiling debate and the US banking crisis, investors expect more downside in the crypto market. The US dollar has continued growing stronger, hovering around a six-month high against the Yen, as optimism around the US debt ceiling talks in Washington raised expectations of higher-for-longer interest rates.
Two…
Bitcoin price was headed for its worst week since November 2022 on Friday as volatility, buoyed by low liquidity continued to outweigh crypto markets. Bitcoin has dropped below the crucial support level of $26,500, changing hands at this level. The asset’s price has dipped by more than 11% in the past week, while its total market cap inched lower to $516 billion.
Fundamentals
Bitcoin price has been on a downward trend for seven consecutive days amid congestion in the network’s system and the regulatory crackdown on cryptocurrencies. The digital coin has been struggling to gain bullish momentum for the past few days. Bitcoin is currently up by 60.54% in the year to date, but its prices have remained volatile.
The crypto market has been battling low liquidity, regulatory crackdown, and macroeconomic concerns. Data by Coinmarketcap shows that the global crypto market cap has slipped to $1.11 trillion, down from $1.27 trillion earlier in March. Bitcoin’s dominance has also inched lower in the past few days.
The regulatory crackdown on cryptocurrencies has ramped up since the fall of crypto exchange FTX. Ripple Labs has been in a lawsuit against the US Securities and Exchange Commission (SEC) over the last year over concerns about its native coin XRP. Additionally, SEC recently warned Coinbase over potential securities law violations. Binance, the largest cryptocurrency exchange platform, was recently accused of violating trading rules by the Commodity Futures and…
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Fundamentals
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