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If initial tests are successful, the firms will expand their activities into tokenized credit issuance and equities. Financial market firms T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland have joined an Avalanche (AVAX) subnet to test the idea of blockchain-based foreign exchange, according to an announcement from the Avalanche team. The new subnet is called “Spruce,” and is part of Avalanche’s Evergreen Subnet ecosystem. Following last week’s Avalanche Evergreen announcement, today marks the launch of the Spruce Subnet! Institutional partners including @TRowePrice, @WisdomTreeFunds, @Wellington_Mgmt & @CumberlandSays will use Spruce to test public blockchain applications. https://t.co/1KLzxcUCSB pic.twitter.com/xvaUmKO3BV — Avalanche (@Avax) April 12, 2023 According to the announcement, institutions will initially use “valueless tokens” on Spruce to ensure they can conduct foreign exchange, or forex, transactions without losing capital. Inter...

The Bitcoin logo lights up on the European Central Bank building in Frankfurt as Bitcoiners urge bankers to ‘study Bitcoin.’ “The signal goes on, and he shows up. That's the way it's been. That's the way it will be.” Whenever Gotham faces an existential threat, the Bat-Signal lights up the night sky. In the DC Comics universe, Batman always shows up to save the day when he’s called upon. Bitcoiners in Germany employed a similar tactic this week, emblazoning the preeminent crypto currency’s logo with a message to ‘study Bitcoin’ on the side of the European Central Bank building in Frankfurt. The images were shared widely across social media, with notable Bitcoin (BTC) proponents and various company profiles lauding the display. #Bitcoin looks good on the ECB building pic.twitter.com/k8odYEpAZd — Alistair Milne (@alistairmilne) March 30, 2023 A dose of the proverbial ‘Orange Pill’ is particularly pertinent given that the global banking sector has been under the spotlight ...