World’s Largest Custodian Pursues DeFi Project to Change its Brand Name

2020-10-11 15:50

BNY Mellon, the world’s largest custodian and asset services company with nearly $2 trillion in assets under management (AUM), asks the decentralized assets management project Melon Protocol to change its brand name.

“BNY Mellon has deployed a team of lawyers to pursue taking the Melon name away from our community,” shared the project on Twitter.

As such, they are now hunting for a new name, adding, “our community & values extends beyond a name, so we'll focus efforts on taking their outdated business model & democratizing it so that ANYONE can be a fund manager.”

This isn't the first time BNY Mellon has targeted the project. Two years back, they sent a cease and desist letter to Melonport, the Zug-based startup that built the Melon Protocol, allowing asset managers to create their own tokenized investment vehicles.

Started as a private company, in February 2019, it delivered v1.0 of the protocol and handed the control over to Melon Council DAO.

The investment company at that time also declared concerns regarding trademark applications by Melonport and announced that they would file an opposition against MELON CHAIN, MELON PROTOCOL, MELON FUND, and MELON MAIL trademark registrations.

Built on Ethereum, its DeFi protocol has $1.8 million of total funds locked (TVL), down from a peak of $2.5 million last month.

It’s token MLN, trading at $24.44, has a market cap of just over $13 million.

On Friday, Coinbase Custody announced deposit and withdrawal support for the token, yet another addition to the San Francisco-based crypto exchange’s DeFi steak that has them listing many other DeFi tokens in the past couple of months.

The post World’s Largest Custodian Pursues DeFi Project to Change its Brand Name first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

LALA World (LALA) íà Currencies.ru

$ 0 (+0.76%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 5.17 %, 7d: 9.44 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0003891 (-100%)

world assets management change brand custodian largest

world assets → Ðåçóëüòàòîâ: 126


BEN Global Airdrop to Galvanize Thousands of Students in September

Coinspeaker BEN Global Airdrop to Galvanize Thousands of Students in SeptemberThe Blockchain Education Network (BEN) has announced the next iteration of its yearly airdrop, an educational campaign and event where students and blockchain clubs at academic institutions from around the world receive digital assets that introduce them to blockchain technology.

2020-9-1 19:00


Where Can You Use Cryptocurrencies?

Once dismissed as a fad, cryptocurrencies are now a widely used alternative to fiat currencies. Although virtual assets such as Bitcoin, Ethereum, Tether, and Litecoin remain a controversial choice, more than 50 million people around the world currently use Blockchain wallets for a range of online transactions – and that number is growing quarter by […]The post Where Can You Use Cryptocurrencies? appeared first on CaptainAltcoin.

2020-8-27 17:13


Ôîòî:

Grayscale Says Over 33% of US Investors Are Interested In Bitcoin and Altcoins

Over one-third of U.S investors have shown interest in investing in Bitcoin and other crypto assets, according to the world’s largest crypto assets investments manager, Grayscale. Grayscale said that this is a wakeup call for financial advisors to catch up on crypto assets and facilitate the transition of new adopters in the crypto market. “Over […]

2020-8-8 01:33


The Role of Digital Assets in a Post-COVID World

Ripple CTO David Schwartz continues to explore the wider world of blockchain and digital assets on the Block Stars podcast. In the latest episode, he talks with Professor of Economics and Political Science at the University of California, Berkeley, Barry Eichengreen, about the current state of the global economy and where digital assets fit in … Continued The post The Role of Digital Assets in a Post-COVID World appeared first on Ripple.

2020-7-29 21:28


Ôîòî:

Amid the Crisis, a New Generation Is Ready for the Crypto Revolution

As the world’s nations and financial institutions plan their recovery from the unprecedented economic upheaval in the wake of the COVID-19 crisis, more and more people are turning to digital assets. Cryptocurrency’s extraordinary resilience during the coronavirus crisis has lent renewed vigor to central banks’ plans to integrate digital currencies. Meanwhile, the younger generation is […]

2020-7-1 15:40


Ôîòî:

As Traditional Investors Flood the Bitcoin Market, Pundit Warns Of Risk On/Off Moves

As the cryptocurrency sector grows and matures, we can expect the arrival of more and more familiar faces from the traditional financial world. Especially during times of economic uncertainty. It’s becoming more likely that those who once thought Bitcoin was too far off will give the digital assets another look. Charles Edwards, a digital assets […]

2020-6-22 11:18