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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Philippine Stock Exchange wants to launch local crypto markets first

The Philippine Stock Exchange is waiting for the local SEC to issue guidelines for crypto trading.

The Philippine Stock Exchange (PSE) is aiming to be first in line when financial regulators give the green light for crypto asset trading in the country.

On Friday, July 2, CNN reported that PSE president and CEO Ramon Monzon said the local bourse should be the country’s first exchange platform for crypto assets. He stated:

“If there should be any exchange for cryptos, it should be done at the PSE. Why? Number one, it's because we have the trading infrastructure. But more importantly, we'll be able to have investor protection safeguards especially with a product like crypto.”

The country’s stock exchange is now awaiting guidelines from the Philippine Securities and Exchange Commission and other financial regulators.

Despite his eagerness to support crypto asset markets, Monzon warned of crypto’s volatility, stating: “instant riches could be instant poverty too.”

Related: Crypto in the Philippines: Necessity is the mother of adoption

Government regulators in the Phillipines began researching regulating crypto asset trading in 2019 when the SEC sought feedback from banks, investors, and the public on whether the country was ready to build a fully-fledged cryptocurrency exchange.

Local demand for digital payments is strong, with as much as 10% of the GDP coming from remittances from an estimated 10 million expatriate Filipinos working overseas.

The Philippines has sought to establish itself as a regional hub for crypto in recent years, opening its Special Economic Zones in Cagayan to crypto firms in 2018.

In January, the central bank established new guidelines for crypto asset service providers after witnessing accelerated growth in the use of digital assets over the past three years.

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