Ethiopia and Eritrea accuse one another of launching war

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By TOE | Posted TOE Ethiopia and Eritrea each accused the other of starting a war of aggression on Friday as an internal Ethiopian conflict threatened to escalate into a regional war. Ethiopia accuses Eritrea of backing rebels in its northern Tigray state, who launched attacks against federal forces last month. The two countries severed diplomatic relations, and over the past week, Eritrean troops have been seen in northern Tigray with Ethiopia launching drone strikes against their forces. A foreign security source, speaking on condition of anonymity, told AFP they estimated 5,000 to 8,000 Eritrean soldiers were present in Tigray. Eritrea’s conduct is “a blatant act of aggression that engages Ethiopia’s inherent right to self-defence”, Ethiopian Foreign Minister Gedion Timothewos wrote in a letter to diplomats. Eritrea’s information minister, Yemane Gebremeskel, responded on X that it was facing “an unprovoked war of aggressio...
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Citigroup Explores Crypto Custody Partnerships Re-evaluates Metaco Collaboration

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Citigroup, a prominent banking institution, is reviewing its partnership with Metaco. This evaluation comes following the recent announcement by Ripple Labs regarding its acquisition of Metaco, a cryptocurrency custody firm, for $250 million.

Citigroup has initiated discussions with various other custody providers. This move suggests that the banking giant is exploring alternative options for its custody services.

In May, the payment company announced its decision to purchase Metaco. The acquisition was announced while Ripple fought, and continues to fight, a legal dispute with the U.S. Securities and Exchange Commission (SEC), which is anticipated to have significant financial implications for the blockchain company.

Citigroup’s Metaco Review Not Directly Linked To Ripple’s Acquisition

Metaco provides custody technology solutions, catering to several major banks. Among these banks, Citigroup (Citi) is the primary one based in the United States. Citigroup has been a key partner of Metaco, utilizing its custody services.

Citi’s significance as a client lies in its role as the world’s fourth-largest custodian bank, following BNY Mellon, State Street, and JP Morgan. Additionally, Citi has initiated the Regulated Liability Network, which aims to link central bank digital currencies (CBDCs) with bank deposit tokens and other tokenized digital assets.

This demonstrates Citi’s commitment to advancing the integration of CBDCs and digital assets within the banking sector. In June of the prior year, Citigroup selected Metaco as its custody partner.

The purpose behind this choice was to expand Citigroup’s range of services to encompass tokenized securities and other products based on blockchain technology. The review conducted by Citigroup was not directly linked to Ripple’s acquisition of Metaco.

Despite Ripple’s announcement that Metaco would retain its independence as a brand and continue to be led by its CEO, the reasons behind Citigroup’s review were not explicitly connected to this acquisition.

Metaco Connected To Major Financial Institutions

Over the past two years, Metaco has secured notable partnerships with various financial institutions. These include BNP Paribas Securities Services, SocGen Forge, Citi, DekaBank, and DZ Bank from Germany.

Before this period, Metaco had already established relationships with prominent clients such as DBS, BBVA, and Zodia Custody, a Standard Chartered subsidiary. These clients are recognized for their active involvement in the tokenization space.

The reasons behind this shift, some firms claim, mainly include concerns over the volatile nature of cryptocurrencies, potential risks associated with regulatory compliance, and the need to ensure the safety of clients’ assets.

Metaco

from Bitcoinist.com https://ift.tt/FgBLW89

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