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Latest Crypto News: Lending Protocol Defactor Tokenizes $100 Mn Bonds, Louis Vuitton Unveils Its Iconic Trunk In Digital Form

Here are some latest developments in the crypto world over the past few days.

Updated on: 7 June 2023 8:21 am

Latest Crypto News: Lending Protocol Defactor Tokenizes $100 Mn Bonds, Louis Vuitton Unveils Its Iconic Trunk In Digital Form

Decentralized lending platform Defactor Labs tokenized $100 million worth of Alpha Bonds?based on the ERC-3643 token standard, it said on Tuesday.

Small and medium-sized businesses can get these bonds using real assets as collaterals.?According to the DeFi platform, the bonds were tokenized on the Polygon MATIC network.

Defactor said the bond venture will come under the jurisdiction of Luxembourg, and it has?contacted law firm, CMS, to create the legal papers.??

French Fashion House?Louis Vuitton Forays Into Web3

French luxury fashion brand Louis Vuitton has unveiled its iconic trunk as a digital collectible as?it forays into the Web3 world. Louis Vuitton said the VIA Treasure Trunk is a virtual version of?its classic travel trunk. Its Web3 project shows the fashion industry’s growing “phygital” trend.

It said the feeling of exclusive possession in the physical world may be replicated digitally with?the help of blockchain technology like nonfungible tokens (NFTs).??

It is believed that the creation of distinct digital twins of physical objects on the blockchain has?led to the emergence of the phygital trend in Web3.??

Sequoia Capital Announces Split To Separate China Business

Venture capital, Sequoia, will undergo a three-way split of its business for the US/Europe,?India/South East Asia, and China. The idea is to create separate divisions for America, China,?and Asia markets. The decision, announced on June 6, will enable Sequoia to decentralise its?back-office operations, it said. Sequoia said it will adopt a “local-first approach” to address the?brand issues and the global financial complexity.