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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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Arca Labs partners with Securitize on regulated, tokenized financial products

As part of its partnership with Arca Labs, Securitize will help launch tokenized financial products for the firm, starting with Arca’s registered tokenized treasury fund.

Arca Labs, the innovation arm of digital asset investment firm Arca has partnered with blockchain tech firm Securitize to launch regulated, tokenized financial products.

According to a Sept. 23 announcement, Securitize has signed on to provide a smart contract and issuance platform for the firm, starting firstly with Arca’s tokenized fund dubbed “Arca U.S. Treasury Fund” that was launched in July 2020.

Arca touts it as the first treasury fund registered under the Investment Company Act of 1940 to issue shares as digital assets via the blockchain. The fund meets the same regulatory requirements as a mutual fund, but differs by offering exposure via Ethereum-based digital asset security tokens called “ArCoin.”

Arca states that the fund will typically “invest a minimum of 80% of assets in U.S. Treasury securities.”

Securitize has taken over the fund’s transfer agent role from TokenSoft, and will be tasked with managing regulatory compliance mandates such as investor verification, know your customer and anti-money laundering policies, along with onboarding clients and issuing the fund’s shares via ArCoin. Securitize is a registered transfer agent with over 200 clients and nearly a half-billion dollars in regulated securities issued in the past three years

The transition has seen the fund’s existing outstanding balances burned and automatically reissued under Securitize’s new smart contract to each shareholder.

Additionally, there will be jointly-offered tokenized financial products that will be announced at a later date.

Related: Bitcoin-based security token offering approved in Germany

“Institutions have struggled to meet investor demand because few tokenization companies have met the rigorous regulatory and operational thresholds required by investors,” the announcement stated, adding that the firms are “seeking to channel the growth of fast-developing blockchain technologies within the existing financial services regulatory framework, which we believe to be key for increased investor trust and adoption.”

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