Binance Unveils Self-Custody Wallet; HSBC to Start a Custody Service for Tokenized Securities

Finance drops a new web three wallet and open sea faces rough waters. You're watching coin desk daily. I'm your host, Jen Sani. All right, let's take a look at the markets. The coin desk, Bitcoin price XBX index is currently trading above $35,000. Meanwhile, new cryptocurrencies are being created at the slowest pace in three years. That's according to new Ceric data. Around 293 new tokens were added to the coin market cap website in Q three, less than 1/4 of what was added during Q four of 2021 during the bull market. That figure excludes meme coins a tough month for open Sea. The valuation of the NFT marketplace has been slashed by 90% from investor co two management. That's according to documents seen by the information in 2022 co two and paradigm led a $300 million round for the marketplace. The news comes less than a week after Open Sea announced a 50% reduction in its workforce. Ceo Devin Finser posted about the changes on X saying it's shifting to a smaller team to build a new foundation. HS BC said it plans to start a custody service of tokenized securities for institutional clients alongside Swiss crypto custodian and Medico. The bank says it will not apply to cryptocurrencies or Stablecoins. The service is set to go live in 2024. Finance has released a self custody web three wallet that can be used to interact with the defi ecosystem. Users are required to use the Binance app to create the wallet with the app serving as the venue for staking lending and borrowing. The new wallet appears to compete with trust wallet which the exchange bought in 2018 trust wallets. Native token fell following the announcement and that's a wrap for coin desk daily. Get more updates on coindesk dot com and we'll see you next time.