Author: CryptoCurrencyNews

RD InnoTech Targets Future Stablecoin Launch with HashKey Exchange, Advancing Cross-Border Payment Ambitions

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

HONG KONG, Oct. 28, 2024 /PRNewswire/ — RD InnoTech Limited (RD InnoTech), a subsidiary of RD Technologies Group, is steadily advancing the issuance of its HKDR stablecoin. From the outset, RD InnoTech has focused on ensuring HKDR complies with rigorous regulatory standards while preparing for seamless market entry to support international payments and cross-border transactions. On July 18, 2024, RD InnoTech was admitted into the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, establishing a crucial framework for future compliant operations.

RD InnoTech plans to roll out its HKDR stablecoin on Ethereum in the future. RD InnoTech has selected Ethereum for its strong global liquidity and established ecosystem, proven stability, and secure, decentralized infrastructure—ensuring reliable, large-scale financial operations.

Hash Blockchain Limited (HashKey Exchange) Partnership: Driving Growth and Market Access

RD InnoTech plans to launch on Hashkey Exchange, the largest* licensed virtual asset trading platform approved by the Hong Kong Securities and Futures Commission (SFC), marking a pivotal step towards realizing its vision of enabling seamless, more efficient and compliant global payments through stablecoin integration.

Ms. Rita Liu, CEO of RD Technologies Group, highlights the strategic value of working with HashKey Exchange:“We are very excited to be working with  HashKey Exchange because they bring critical components we need to launch HKDR successfully: regulatory credibility, vast institutional relationships, and deep liquidity. Their compliance with Hong Kong’s VATP regulatory regime reinforces trust with partners and regulators.”

Ms. Rita Liu adds that Hong Kong’s role as a gateway between East and West strengthens stablecoins’ potential for capturing Asia’s growing demand in leveraging stablecoins for facilitating cross-border trade and payments: “Stablecoins can eliminate friction in global transactions by synchronizing information and asset flows. We are building a compliant, stable digital currency that unlocks speed and affordability for businesses across borders.”

“We are excited to make a significant breakthrough in the Hong Kong stablecoin market and the global cross-border payment sector through our close collaboration with RD InnoTech. HKDR will not only lower transaction costs but also improve the efficiency of fund flows, providing global enterprises with a compliant and stable currency. This initiative will greatly enhance global trade and strengthen financial connectivity. As the largest licensed virtual asset exchange in Hong Kong, HashKey Exchange is fully committed to supporting this innovation, ensuring that professional investors can easily access this compliant stablecoin, backed 1:1 by the Hong Kong dollar^. Moving forward, HashKey Exchange will act as the ‘nerve center’ to continuously drive the development of compliant stablecoin operations,” said Mr. Livio WENG, CEO of HashKey Exchange.

By combining regulatory rigor, strategic partnerships, and blockchain innovation, RD InnoTech aims to position HKDR as a key enabler of the future global payment landscape. The partnership with HashKey represents a critical step toward this goal, aligning with Hong Kong’s ambition to become a global digital asset hub and setting the foundation for stablecoin adoption across Asia and beyond.

About RD Technologies Group:

RD Technologies Group (RD Technologies) is the financial platform that bridges the Web2 and Web3 worlds. It deploys innovative fintech to build a business world interconnected by trust. Based in Hong Kong and connected with the global community, RD Technologies was born out of a mission to enable businesses to gain easier access to financial services, enhance trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre. For details: https://rd.group

Secure and innovative solutions managed by subsidiaries under RD Technologies include:

  • RD Wallet:
    RD Wallet Technologies Limited (RD Wallet) is a licensed Stored Value Facility in Hong Kong (licence number: SVF0016). It enables global businesses to open multi-currency fiat accounts on mobile anytime, anywhere. RD Wallet is committed to facilitating cross-border trade and payments through efficient, secure, and innovative payment solutions for businesses, and contributing to the development of Hong Kong as a trade and financial hub in Asia. For details about RD Wallet: https://rd.group/products/wallet/
    For media inquiries, please contact:  lucy.long@rd.group 
  • HKDR Stablecoin (HKDR):
    HKDR Stablecoin (HKDR) is a trusted and transparent Hong Kong Dollar stablecoin 1:1 backed by the Hong Kong dollar, with high-quality and highly liquid assets safekept in segregated custody accounts with licensed financial institutions. Details of the reserves will be available to the public through regular independent attestation reports.  In July 2024, RD InnoTech Limited, the issuer of HKDR, was among the first batch of entities to be admitted to the stablecoin issuer sandbox by the Hong Kong Monetary Authority.  RD InnoTech Limited will abide stringently by the regulatory requirements for the launch of HKDR to contribute to the continuous development of Hong Kong as a global Web3 and virtual asset hub. For details about HKDR: https://rd.group/hkdr

*Note: As of October 20, 2024, HashKey Exchange ranking 9th on CoinGecko’s global exchange list, making it the largest licensed virtual asset exchange in Hong Kong.

^Referenced from the HKDR official website introduction.

About HashKey Exchange

HashKey Exchange is committed to setting new benchmarks for virtual asset exchanges in terms of compliance, fund security, and platform safety. HashKey Exchange is one of the first licensed retail virtual asset exchanges in Hong Kong. It has been approved by the Securities and Futures Commission (SFC) and holds licenses for type 1 (securities trading) and type 7 (providing automated trading services) under the Securities and Futures Ordinance, as well as operating a virtual asset trading platform under the Anti-Money Laundering Ordinance, operating a virtual asset trading platform in compliance. As the flagship business of HashKey Group, HashKey Exchange provides one-stop virtual asset trading services for professional investors (PI) and retail investors. HashKey Exchange has obtained ISO 27001 (information security) and ISO 27701 (data privacy) management system certifications. 

HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations.

Information may become outdated, due to new plans, regulations, or market changes.

Cision View original content:https://www.prnewswire.com/news-releases/rd-innotech-targets-future-stablecoin-launch-with-hashkey-exchange-advancing-cross-border-payment-ambitions-302288462.html

SOURCE RD Technologies Group

Featured Image: depositphotos @ garloon

Disclaimer

WSPN Names Austin Campbell CEO of WSPN US to Drive Stablecoin Innovation and Expansion

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

SINGAPORE, Oct. 25, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (“WSPN”), a leading digital payments and the issuer of Worldwide USD (“WUSD”), today announced the appointment of Austin Campbell as CEO of WSPN US. Mr. Campbell brings extensive experience in stablecoin markets and digital asset strategy to his new role, including running stable value products at JPM and Citi, managing reserves and risk for the Paxos stablecoins (BUSD, USDP), and having helped to design PYUSD. This appointment signals WSPN’s commitment to building first class financial products and revolutionizing the world of payments with its “Stablecoin 2.0” vision to deliver faster, cheaper, and safer transactions for all.

Austin Campbell as WSPN US CEO

Building on his significant contributions as Head of Strategy, where he was instrumental in shaping WSPN’s strategic roadmap and identifying new market opportunities for WUSD, Mr. Campbell will now lead the effort in bringing this vision to the US market and beyond. His primary focus will be on:

  • Driving the adoption of WUSD: Leveraging his deep understanding of the stablecoin ecosystem, Mr. Campbell will lead initiatives to establish WUSD as a leading solution for businesses globally.
  • Leading treasury and risk management: Mr. Campbell will leverage his expertise to ensure the stability and security of WUSD, building trust and confidence among users and partners on a global scale.
  • Building a world-class user experience: Mr. Campbell will oversee the development of user-friendly products and services that simplify the use of stablecoins for everyday transactions, regardless of location.
  • Fostering strategic partnerships: Mr. Campbell will cultivate relationships with key players in the financial and technology sectors worldwide to expand WUSD’s reach and impact.

“I am incredibly excited to become the CEO of WSPN US,” said Mr. Campbell. “Stablecoins are key to improving the global financial system. We intend to build the best products for consumers and end users, creating a fair system where people control their own money and have global access to dollars. Our goal is to bring world-class user experience to stablecoins, where many users making payments in dollars won’t even have to think about the fact that they’re using blockchain technology. With WSPN, we’re committed to building a better economic model that fosters a virtuous cycle of adoption, benefiting the entire ecosystem.”

Prior to joining WSPN, Mr. Campbell was the founder and managing partner at Zero Knowledge Consulting, advising on market structure and risk management within the crypto ecosystem. Additionally, he is also an adjunct professor at New York University Stern School of Business, educating the next generation of Web3 leaders. His previous experience, including Paxos, Citi, and JP Morgan, coupled with his thought leadership in stablecoin mechanics, uniquely positions him to lead WSPN US towards a future powered by accessible and equitable financial solutions.

“Austin’s expertise and vision have been instrumental in shaping WSPN’s strategic direction,” said Raymond Yuan, Founder and CEO of WSPN. “We are confident that under his leadership, WSPN US will play a crucial role in driving the mass adoption of stablecoins and transforming the financial landscape for the better.”

****END****

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users.  WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

Photo – https://megastockalert.com/wp-content/uploads/2024/10/Austin_WSPN_US_CEO.jpg
Logo – https://megastockalert.com/wp-content/uploads/2024/10/WSPN_logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/wspn-names-austin-campbell-ceo-of-wspn-us-to-drive-stablecoin-innovation-and-expansion-302286233.html

Featured Image: Pexels @ olya kobruseva

Disclaimer

Lightspark Announces UMA Auth, UMA Request, Updates to Extend and Spark at Lightspark Sync

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

LOS ANGELES, Oct. 25, 2024 /PRNewswire/ — Yesterday, in Los Angeles, Lightspark hosted its first Partner Summit—Lightspark Sync.


The Internet lacks a protocol for money. Lightspark is building the tools and services to make it happen. (PRNewsfoto/Lightspark)

Lightspark announced:

  • Two new foundational capabilities for UMA – UMA Auth and UMA Request
  • One Lightspark product update – Lightspark Extend for UMA
  • Spark: A new open-source Bitcoin Layer 2, Lightning-compatible solution for stablecoins and self-custodial wallets

Lightspark is building the fastest global open payment network on Bitcoin. Their products simplify, streamline, and modernize the flow of global payments, whether using fiat currencies, stablecoins, or bitcoin.

Exciting updates for the Universal Money Address (UMA). UMA is an open-source messaging standard built on LNURL. Think of it as email but for money. It’s a solution that enables transactions in fiat currency, stablecoin, or form of value that any human, business, or AI agent needs to move or exchange in real-time.

By the end of 2024, Lightspark estimates their partners will unlock UMA for nearly 300 million customers in 140 countries and 100 currencies.

UMA Auth is like OAuth for money. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

It’s an open standard built on Nostr Wallet Connect that enables UMA-enabled wallets to delegate the push and pull of money with limits set by the user. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

Even in today’s digital economy, payments on commerce platforms, content services, and messaging applications are challenging. Payment integrations can be complicated, taking up valuable development time and resources that can be used elsewhere. High transaction fees can eat into profits, and slow settlement times frustrate users and create risk. International payments add another level of complexity. These problems have been holding businesses back for far too long. UMA Auth solves many of these problems while providing users with easy linking to their existing financial apps and wallets.

At its core, UMA Auth is a two-way connection between platforms and their users’ UMA-enabled wallets.  It takes the great features of OAuth and applies them to the world of UMA payments, making secure authorization easier. Now, users can log in to their wallets and authorize UMA payments using familiar set-up experiences. Users can control what applications can access their wallets, specify permitted actions, and set spending limits for each application.  The potential use cases are far-reaching – UMA Auth enables bank accounts or wallets to be connected to messaging and email apps; for example, users can make payments to content creators (no matter where they are) with live tipping or recurring payments and subscriptions. Like Oauth, UMA Auth does not require platform partners to be in the flow of funds but, instead provides a seamless payment experience for users with the UMA-enabled wallet of their choice.

UMA Auth is built using Nostr Wallet Connect, a secure, open protocol that’s gained significant traction in the Nostr and Lightning communities and simplifies connecting wallets to apps. Lightspark worked with the Nostr community and the team at Alby to build on the protocol, extending Nostr Wallet Connect to support UMA features. Some new key enhancements Lightspark has proposed are cross-currency support and client app registration.

UMA Auth brings a new level of innovation to Lightning, making payments more open, interoperable, and user-friendly. It’s a big step forward in building a payment ecosystem that puts users first and opens up many possibilities for peer-to-peer transactions. Lightspark released SDKs that make it incredibly easy for businesses to integrate UMA Auth into their applications.

UMA Request. Built for UMA, this will allow any business or UMA-enabled wallet to request a payment from another wallet on the network. UMA invoices and payment requests will transform transactions for both businesses and individuals. Merchants or service providers can now quickly request customer payments by creating a one-time invoice for a product or service. This invoice can be paid multiple times, making it incredibly flexible for the business and the end users. One of the standout features of this system is that it provides proof of payment, ensuring that both parties have a clear record of the transaction. UMA Request is versatile enough to handle a variety of use cases. Whether requesting payments from friends for a shared expense, managing merchant checkouts, or handling bills from service providers, UMA Request provides a simple and effective way to facilitate transactions across different scenarios.

Lightspark Extend This is a significant step forward, enabling Lightning payouts to bank accounts over domestic payment rails. It reduces transaction times and costs and simplifies payments. Companies can pay out users at their preferred endpoints with instant, seamless fiat currency transfers from local bank accounts to any eligible account in the user’s chosen currency. In the United States, users can instantly receive USD from a Real-Time Payments-enabled local bank account. Lightspark Extend for the US and Mexico will be available by the end of the year, and Brazil will quickly follow. Lightspark Extend offers competitive pricing and unparalleled efficiency for businesses and individuals to send payments, ensuring that moving funds is faster and more cost-effective than ever.

INTRODUCING SPARK –
A SOLUTION FOR STABLECOINS AND SELF-CUSTODY ON BITCOIN
Lightspark believes the future of payments must be on the most open, neutral, and decentralized network and should also enable all use cases – from non-custodial wallets to stablecoins. Spark is a new, payments-focused, high-performance, open-source, scaleable Bitcoin Layer 2. It extends Bitcoin and Lightning and enables self-custodial wallets to send and receive real-time payments at virtually no cost. Spark also supports tokens such as stablecoins, making it the most comprehensive open payment network built on Bitcoin.

Lightspark is committed to powering a new generation of payment solutions. Their products are built with regulated financial service firms in mind. They offer tools for direct, secure messaging between payment counterparties so that their partners can support a range of customer payment experiences and address risk management, AML/CFT, sanctions, travel rules, and other requirements.

Media Contact
press@lightspark.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/lightspark-announces-uma-auth-uma-request-updates-to-extend-and-spark-at-lightspark-sync-302287198.html

SOURCE Lightspark

Featured Image: depositphotos @ AntonMatyukha

Disclaimer

CoinEx Expands Global Reach with Italian and Polish Language Launches

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

HONG KONG, Oct. 25, 2024 /PRNewswire/ — CoinEx, a global cryptocurrency exchange dedicated to putting users first, will officially launch its Italian and Polish language platforms on October 24. This strategic step underscores CoinEx’s commitment to expanding its presence in these fast-growing markets, offering a secure trading environment, a wide variety of cryptocurrencies, rapid coin listings, and a diverse range of trading tools to meet user needs.

Both Italy and Poland hold immense growth potential in the cryptocurrency space. Italian and Polish users are increasingly seeking platforms that provide accessibility, reliability, and strong community engagement. In response, CoinEx will focus on building local communities, strengthening partnerships, and participating in key events to deepen its local footprint in both countries.

In Poland, CoinEx has already made its mark as a golden sponsor of Cryptosphere and through participation in Web3 Student Expo x PlanetaNFT. CoinEx is also preparing for its 7th-anniversary meetup in Warsaw. In Italy, CoinEx will run engaging activities on Telegram and other social media channels to keep users connected and rewarded. Italian and Polish users will also enjoy exclusive benefits, including social media campaigns, newcomer promotions, trading competitions, and special events on CoinEx Brand Day.

Additionally, the Italian and Polish websites will feature CoinEx Insight for market analysis and CoinEx Academy for crypto market education. Official Italian and Polish websites will offer localized support, urging users to connect via social media and Telegram.

Official Website in Poland: https://www.coinex.com/pl
Official Website in Italy: https://www.coinex.com/it
Polish Instagram: https://www.instagram.com/coinexpolska
Polish X: https://x.com/CoinExPolska
Polish Telegram: https://t.me/CoinEx_Polska
Italian Telegram: https://t.me/coinex_italian
Italian X: https://x.com/CoinEx_Italian

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and futures trading, margin trading, swaps, automated market makers (AMM), and financial management services for over 10 million users across 200+ countries and regions. Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful, and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

To learn more about CoinEx, visit: Website | Twitter | Telegram | LinkedIn | Facebook | Instagram  | YouTube

Cision View original content:https://www.prnewswire.co.uk/news-releases/coinex-expands-global-reach-with-italian-and-polish-language-launches-302286841.html

Featured Image: depositphotos @ alphababy

Disclaimer

Bybit’s WSOT Copy Trading Fest Offers 100,000 USDT Prize Pool for Crypto Investors

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

DUBAI, UAE, Oct. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announces the WSOT Copy Trading Fest, inviting crypto traders and investors to compete for their share of an exciting 100,000 USDT prize pool. Running until October 31, 2024, the event offers participants the opportunity to showcase their expertise or leverage the strategies of top traders.

The World Series of Trading (WSOT) 2024 marks the fifth edition of Bybit’s premier crypto trading event, renowned for bringing global traders together. This year’s WSOT features a total prize pool of up to 10,000,000 USDT, with the Copy Trading Fest adding a unique competitive element for both seasoned and beginner traders.

Tailored for All Traders

  • Experienced Traders:
    • Compete as Master Trader by executing winning strategies and aiming for the 100,000 USDT prize pool. The top 50 Master Traders with the highest PnL will split the 50,000 USDT pool.
  • New and Aspiring Investors:
    • Join as Follower, copying the strategies of Master Traders to maximize returns without needing advanced technical skills. The top 100 Followers by PnL will split an additional 50,000 USDT pool.

How to Join and Compete

  • Choose Your Role: Decide whether you’ll lead as a Master Trader or copy trades as a Follower.
  • Meet the Eligibility Criteria: Ensure a minimum $50,000 trading volume during the event to qualify for rewards.
  • Accumulate PnL: Both realized and unrealized profits count towards your leaderboard ranking.
  • Fast Rewards: All prizes will be credited to the Bybit Rewards Hub within 10 days after the event ends.

Seize the Opportunity Today!

Whether you’re aiming to showcase your expertise or earn passively by following seasoned traders, the WSOT Copy Trading Fest offers a competitive, transparent, and rewarding experience. With the trading community buzzing, now is the time to jump in and claim your share of the 100,000 USDT prize pool.

Bybit's WSOT Copy Trading Fest Offers 100,000 USDT Prize Pool for Crypto Investors

#Bybit / #TheCryptoArk / #WSOT2024

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Bybit Logo

Photo – https://megastockalert.com/wp-content/uploads/2024/10/Bybit_s_WSOT_Copy_Trading_Fest_Offers_100_000_USDT_Prize.jpg
Logo – https://megastockalert.com/wp-content/uploads/2024/03/Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/bybits-wsot-copy-trading-fest-offers-100-000-usdt-prize-pool-for-crypto-investors-302285587.html

Featured Image: depositphotos @ Violka08

Disclaimer

BitMEX achieves industry-leading low on-chain AML risk profile through strategic partnership with Chainalysis

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

BitMEX reports a 35% lower on-chain risk exposure than global averages, demonstrating its commitment to cutting-edge security and regulatory adherence.

VICTORIA, Seychelles, Oct. 22, 2024 /PRNewswire/ — BitMEX, the world’s leading crypto derivatives exchange, has announced that it continues to maintain a low on-chain Anti-Money Laundering (AML) risk profile, successfully reducing its risk exposure from 1.7% in 2019 to just 0.2% in 2024. This 88% reduction in on-chain risk exposure over the past five years is a direct result of BitMEX’s collaboration with Chainalysis, combined with substantial investments in compliance controls and advanced blockchain analytics. With its on-chain risk exposure 35% below the global average of 0.304%, BitMEX demonstrates its steadfast commitment to security and regulatory adherence, setting a new industry standard since 2019.

As the industry navigates complex regulatory environments, BitMEX has turned compliance into an opportunity for leadership. Ongoing compliance efforts include bi-weekly updates to its Proof of Reserves and Liabilities, the use of geo-blocking technology to minimise sanctions-related risks, and regular external AML audits to ensure compliance accuracy. BitMEX also integrates advanced tools to monitor both on-chain and off-chain activity, reinforcing its comprehensive approach to risk management.

Leveraging Chainalysis’ cutting-edge blockchain analytics, BitMEX has implemented robust mechanisms to assess, monitor, and mitigate on-chain risks. On-chain risk exposure refers to the risks associated with the flow of digital assets, especially concerning their origin or destination, and BitMEX’s proactive stance on mitigating these risks reinforces its leadership in safeguarding the crypto ecosystem.

Stephan Lutz, CEO at BitMEX said, “As we continue to prioritise the safety of our users and create a secure trading environment, our collaboration with Chainalysis has allowed us to stay ahead of evolving compliance standards. By integrating advanced blockchain analytics into our comprehensive risk management strategy, we have not only reduced on-chain risk exposure but also strengthened the trust our users place in us. This partnership ensures that BitMEX leads the industry in both security and regulatory adherence, giving our traders confidence in the safety of their assets.”

The BitMEX compliance framework has evolved to reflect the highest standards in the industry. Central to this transformation is its risk-based approach to threshold tuning, which integrates insights from Chainalysis’ detailed typologies and behavioural analytics. The platform’s commitment to data integrity is evidenced by periodic testing and scenario selection based on the latest threat models, ensuring that its AML programme consistently meets regulatory expectations.

“BitMEX has continuously taken an innovative and proactive approach towards enhancing their risk management strategy and prioritising consumer safety,” said Diederik Van Wersch, Regional Director, ASEAN & Hong Kong, Chainalysis. “The team has always valued a strong collaboration when working with Chainalysis, and it’s really impressive to see their investment in a skilled investigations and compliance team, and the adoption of advanced tools – which have yielded impressive results.”

BitMEX’s efforts highlight its leadership in setting new benchmarks for transparency and regulatory adherence in the crypto space. With the continuous implementation of rigorous AML programmes and real-time monitoring systems, the platform is uniquely positioned to offer a secure and compliant environment for traders worldwide. More details on BitMEX’s transformation of its risk profile is available via a Chainalysis case study here.

About BitMEX
BitMEX is the leading crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep liquidity and unmatched reliability.

Since our founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable.

BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with.

For more information on BitMEX, please visit the BitMEX Blog or www.bitmex.com, and follow Discord, Telegram and Twitter. 

Cision View original content:https://www.prnewswire.com/news-releases/bitmex-achieves-industry-leading-low-on-chain-aml-risk-profile-through-strategic-partnership-with-chainalysis-302282410.html

SOURCE BitMEX

Featured Image: depositphotos @ ilolab

Disclaimer

Yoroi Wallet Users Will Unlock ADA Rewards When Shopping Via Upcoming Bring Integration

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

The collaboration between EMURGO’s Yoroi Wallet and Bring will unite web3 and 775+ real-world retailers and brands, offering up to 10% ADA cashback.

SINGAPORE, Oct. 21, 2024 /PRNewswire/ — Yoroi Wallet, a premier Cardano ecosystem light wallet, and Bring, the first white-label crypto cashback platform, are announcing a collaboration to introduce a new way to passively accumulate ADA via shopping-based rewards. This collaboration will unite the world of blockchain and real-world retailers, allowing users to earn “cashback” in ADA, Cardano‘s native cryptocurrency, for shopping with over 775 global retailers.

This upcoming integration will offer Yoroi users rewarding opportunities from various top-tier brands, including Vaio, JBL, StockX, Samsonite, and Nubul. Users can shop using their credit card or any other payment method and earn up to 10% cashback in ADA. This integration offers a truly seamless, rewarding experience, demonstrating how blockchain can be a part of everyday shopping for the next billion crypto investors. With a simple click of a button on the wallet popup, the user will receive ADA cashback for his credit card purchase.

Vineeth Bhuvanagiri, a Managing Director at EMURGO, said, “Our collaboration with Bring is an exciting development in the world of crypto rewards, creating a new avenue for Yoroi Wallet’s ADA holders to benefit from their assets through qualified shopping purchases at some of the most recognized brand names.”

“Collaborating with Yoroi is a key step toward expanding the reach of our platform and offering users more value,” said Meir (Iri) Zohar, CEO of Bring. “Together, we are unlocking the potential of blockchain technology for mainstream users, making it easier to earn and spend ADA in real-world transactions. We believe this collaboration will accelerate the adoption of Cardano within the retail sector.”

This breakthrough has been made possible, in part, by the support of the Cardano Catalyst program, which provided a grant to fund Bring’s expansion into the Cardano ecosystem, enabling the platform’s continued growth and innovation. The Catalyst program empowers projects that bring blockchain technology closer to mainstream adoption; this new business alliance is a testament to that vision.

The Bring integration in Yoroi marks an essential milestone in the evolution of the Cardano ecosystem. It connects it with the real world in a way that benefits both users and retailers. As blockchain adoption grows, this collaboration will serve as a model for how decentralized technology can be seamlessly integrated into traditional commerce.

The future of ADA just became even more rewarding. The integration is expected to go live later this year.

About EMURGO
EMURGO is a blockchain technology company and a founding entity of the Cardano blockchain that provides products and services to drive the adoption of Cardano‘s Web3 ecosystem. Originally established in Japan, EMURGO exists to facilitate commercial growth of the Cardano ecosystem and unlock the full potential of the ecosystem through partnerships, investments, education, and infrastructure development.

To connect and learn more, visit https://emurgo.io.

About Bring
Bring is the creator of the world’s first white-label crypto cashback service for web3 wallets and exchanges. By partnering with Bring, wallets and exchanges offer their users to earn a variety of cryptocurrencies, in the form of cashback, from 775+ retailers in fashion, electronics, jewelry, travel, software, home decor, beauty, and more.

For media inquiries, please contact:

Bring Web Ltd:
David Amichi
385022@email4pr.com
+972*587225679

https://x.com/BringWeb3
https://www.linkedin.com/company/bringweb3/

Disclaimer
You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by EMURGO to invest.

Cision View original content:https://www.prnewswire.com/news-releases/yoroi-wallet-users-will-unlock-ada-rewards-when-shopping-via-upcoming-bring-integration-302280406.html

SOURCE EMURGO

Featured Image: depositphotos @ stevanovicigor

Disclaimer

The Global Digital Asset & Cryptocurrency Association Announces Proposed Information Guidelines for Certain Tokens Made Available in the United States

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

Proposed Voluntary Framework for Digital Asset Tokens Designed to Identify Material Information Enabling the Market to Make Informed Decisions

CHICAGO, Oct. 20, 2024 /PRNewswire/ — The Global Digital Asset and Cryptocurrency Association (Global DCA), in collaboration with Global Blockchain Business Council (BGGC), The Digital Chamber and the Proof of Stake Alliance, today announced the Proposed Information Guidelines for Certain Tokens Made Available in the United States, a comprehensive, voluntary framework designed to enhance transparency and enable informed decision-making in the rapidly evolving digital asset market.

Prominent attorneys along with distinguished law and finance scholars leading in the fields of blockchain, digital assets and Web3, developed and proposed the Guidelines as members of an impartial Senior Steering Committee:

  • Chris Brummer – Professor of Law, Georgetown University, and Faculty Director, Georgetown’s Institute of International Economic Law
  • Lewis R. Cohen – Partner and Co-Head of the CahillNXT practice, Cahill Gordon & Reindel LLP
  • Patrick Daugherty – Partner and Head of Digital Assets Practice, Foley & Lardner LLP; Adjunct Professor of Law at Cornell and Northwestern
  • Daniel Davis – Partner and Co-Chair Financial Markets Regulation, Katten Muchin Rosenman LLP; Former General Counsel, U.S. Commodity Futures Trading Commission
  • Zachary O. Fallon – Partner, Ketsal PLLC
  • Merritt B. Fox – Professor of Law & Director of the Program in Law and Economics of Capital Markets, Columbia Law School
  • Carol Goforth – Distinguished Professor of Law, University of Arkansas School of Law
  • Yuliya Guseva – Professor of Law, Rutgers Law School
  • Joel Hasbrouck – Kenneth G. Langone Professor of Business Administration and Professor of Finance, NYU Stern School of Business
  • Lilya Tessler – Partner & Head of FinTech and Blockchain Group, Sidley Austin LLP
  • Yesha Yadav – Professor of Law, Vanderbilt University Law School

The Steering Committee was advised by the Advisory Committee composed of key industry stakeholders:

  • Rachel Barnett – Chief Legal Officer, IEX
  • Jason Civalleri – Product Counsel, Grayscale
  • William Costello – General Counsel, Gemini Trust Company
  • Robert Krugman – Chief Digital Officer, Broadridge
  • Ajay Mittal, CFA – Product Strategy, ConsenSys
  • Nilmini Rubin – Chief Policy Officer, Hedera
  • Craig Salm – Chief Legal Officer, Grayscale
  • Lee Schneider – General Counsel, Ava Labs
  • Annemarie Tierney – Founder and Principal, Liquid Advisors

The proposed Guidelines focus on native distributed ledger technology (DLT) tokens and are informed by U.S. securities, commodities, and consumer protection regulations as well as industry best practice. The framework seeks to align with global standards, including the European Union’s Markets in Crypto-Assets Regulation (MiCA), ensuring flexibility for the adoption within different regulatory regimes. Further, the Guidelines do not impose mandatory disclosures but instead provides a fit-for-purpose, comprehensive model that stakeholders may voluntarily adopt.

“Global DCA expresses its sincere gratitude to members of the Steering Committee and the Advisory Committee for their unwavering dedication and leadership in this groundbreaking effort. Your collective expertise, insights, and hard work were instrumental in shaping a framework that will enhance transparency and trust in the Web3 industry,” said Renata Szkoda, the Chair of Global Digital Asset & Cryptocurrency Association.

The Guidelines are open for public comments from October 21, 2024 to January 31, 2025. Global DCA invites feedback from all interested stakeholders. Timely comments will be publicly available and considered by the Steering Committee for inclusion in the proposed Guidelines.

How to Submit Comments:
Interested parties can submit comments via email to: comments@globaldca.org

About the Global Digital Asset and Cryptocurrency Association
The Global DCA is a global leading trade association for the digital asset & cryptocurrency industry. It was established to guide the evolution of digital assets, cryptocurrencies, and the underlying blockchain technology within a regulatory framework designed to build public trust, foster market integrity, and maximize economic opportunity for all participants.

For more information, visit https://global-dca.org/proposed-u-s-disclosure-guidelines/

Media Contact:
Christina Sciotto
c.sciotto@globaldca.org
312-593-5119

Cision View original content:https://www.prnewswire.com/news-releases/the-global-digital-asset–cryptocurrency-association-announces-proposed-information-guidelines-for-certain-tokens-made-available-in-the-united-states-302281089.html

SOURCE The Global Digital Assets Cryptocurrency Association

Featured Image: depositphotos @ grejak

Disclaimer

Show Plus Chain®️ (SHC2.0): Preparing to Revolutionize the Digital Economy

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

SEOUL, South Korea, Oct. 18, 2024 /PRNewswire/ — A significant transformation is on the horizon for the digital economy. The cutting-edge cryptocurrency Show Plus Chain®️ (SHC2.0) is set to launch, providing the driving force for the Show+®️ ecosystem. Designed to seamlessly bridge digital assets with real-world applications, SHC2.0 is poised to create a storm of change in the cryptocurrency landscape. With its unique utility supporting prize distributions, sponsorships, and a dynamic marketplace, SHC2.0 is ready to lead innovation and redefine interactions within the digital economy.

Show Plus Chain®️ (SHC2.0): Preparing to Revolutionize the Digital Economy

The rapidly growing online competition platform Show+®️ is projected to engage a massive user base by 2025, with SHC2.0 at the center of this growth. SHC2.0 empowers users to access exclusive digital experiences, participate in staking, purchase services, and interact with Show+®️‘s vibrant marketplace. With a focus on real-world utility and global scalability, SHC2.0 is not just another cryptocurrency but a driving force for change.

Redefining Digital Assets: The Bold Future of SHC2.0

The launch of SHC2.0 represents a critical milestone in the digital finance landscape, distinguished by its commitment to addressing real-world challenges. While many tokens promise utility, SHC2.0 is dedicated to making these promises a reality by directly connecting digital economy solutions to tangible value. By facilitating prize distribution for competitions and securing sponsorship contracts, as well as fostering vibrant interactions, SHC2.0’s multifaceted utility serves as a true catalyst for change.

This is not just about holding digital assets; it’s about unlocking experiences that span both virtual and real worlds. SHC2.0 is designed to extend beyond the Show+®️ platform, integrating seamlessly across various industries. From entertainment and esports to live events, SHC2.0 is prepared to play a crucial role in the transaction-based future.

Ensuring Strong Price Stability Through Strategic Supply and Demand Control

SHC2.0 plans to regulate its initial supply to create organic demand. This approach aims to deliver stable and sustained growth for all investors, encouraging positive market reactions. As the market responds to the launch of SHC2.0, the price will be adjusted gradually, ensuring a trustworthy environment for investors. This strategy will be aligned with market characteristics and investor needs.

The Market Potential of SHC2.0

Imagine a marketplace where users can purchase, trade, and unlock exclusive experiences in both digital and real-world environments. This is the Show+®️ marketplace, with SHC2.0 at its core. It’s not just a trading platform; it’s a lively community where users can connect with their favorite creators, participate in competitions, and discover unique services. By facilitating digital content purchases, special event participation, and communication with other members, SHC2.0 will continually foster a dynamic ecosystem that thrives and evolves.

SHC2.0 is not only set to support the Show+®️ platform but also has the potential to integrate with other digital ecosystems, creating a truly interconnected digital economy. From the world of entertainment to esports and beyond, SHC2.0 is positioned to be a game-changer that rewrites the rules.

The Future of SHC2.0: The Beginning of a Revolution

As the official launch of SHC2.0 approaches, its future looks exceptionally bright. With a focus on real-world utility and global scalability, coupled with strategic supply and demand control, SHC2.0 is set to become one of the most influential cryptocurrencies in today’s market. The integration of this token within the Show+®️ ecosystem ensures that both users and investors will benefit from ongoing innovation, expanded partnerships, and unprecedented growth opportunities.

For those ready to participate in the next big revolution in cryptocurrency, SHC2.0 stands prepared to deliver results. As its user base grows to a massive scale and the ecosystem continues to expand, SHC2.0 will leave an indelible mark on the global digital economy.

Get ready to experience the future of digital finance. The launch of Show Plus Chain®️ (SHC2.0) is imminent, and the world of digital assets is about to change forever.

For more information on Show Plus Chain®️ (SHC2.0) and the upcoming launch, visit our website https://www.showplus-chain.io 

Photo: https://megastockalert.com/wp-content/uploads/2024/10/SHC2_0.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/show-plus-chain-shc2-0-preparing-to-revolutionize-the-digital-economy-302280466.html

Featured Image: depositphotos @ Syda_Productions

Disclaimer

Ostium Launches Novel Macro Trading Platform Amidst Growth in Global Events-Based Trading

Written by CryptoCurrencyNews on . Posted in Cryptocurrency. Leave a Comment

This post was originally published on this site

Enables Real-Time Trading of Traditional Assets During Historic Event-Driven Market Volatility and Adoption of Prediction Markets

LONDON, Oct. 18, 2024 /PRNewswire/ — Ostium Labs today announced the public mainnet launch of its onchain trading platform, offering traders unprecedented access to global macro markets during a period of global event-driven volatility, marked by speculation around the U.S. Presidential election. Ostium enables perpetuals trading on traditional market currencies, commodities, and indices in real time, markets uniquely affected by events like interest rate changes and geopolitical outcomes.

The trading platform meets the needs of a market grappling with an uncertain U.S. Presidential election, the prospect of escalation in the Middle East, and shifting monetary policies. These dynamics have led to dramatic price movements and dislocations in commodities and currencies, offering unique opportunities for traders chasing volatility. Gold, generally seen as a “flight-to-safety” asset, has skyrocketed past all-time highs as domestic political and economic uncertainty has increased dramatically over the last months. Ostium is the only platform to offer real-time trading across diverse assets including Gold, Copper, and Oil to any user with a crypto wallet.

“Our thesis has long been that this new, more volatile macro paradigm will open up unprecedented opportunities for event-driven trading,” said Kaledora Kiernan-Linn, co-founder and CEO of Ostium Labs. “The success of prediction markets as a forum for traders to express their views on world events is only the tip of the iceberg. Event-driven trading will expand beyond betting on event outcomes to betting on the movements of the most liquid markets in the world – the forex, commodities and global index markets – using event probabilities as critical trading signals.”

“Ostium is perfectly positioned to capitalize on the growing demand for macro event-driven trading,” said Marc Bhargava, Managing Director at General Catalyst. “By enabling one-click trades on traditional assets with only a wallet, Ostium is democratizing access to global markets in a way we haven’t seen before. This isn’t just another crypto play – it’s a gateway for traders to efficiently capitalize on macro news across traditional financial markets, all with the speed and accessibility of decentralized finance.”

Ostium’s novel approach has already captured traders’ attention during its private Mainnet phase since August:

  • Ostium’s FX and commodities perpetuals volumes surged 550% during the week following China’s new Quantitative Easing policy announcement and rising Middle Eastern tensions (9/27-10/3)
  • Open Interest on Ostium’s WTI Crude Oil perpetuals hit caps 6x in the 10 days following Iran’s ballistic missile attack on Israel and ensuing fears of a retaliatory strike on Iranian oil fields
  • Ostium’s Real World Asset (RWA) volumes have outpaced crypto volumes 4x in recent weeks of macroeconomic instability, and 8x on days with heightened macroeconomic instability

“The next evolution of event-based trading isn’t about predicting outcomes in isolation, but understanding and capitalizing on how these events influence the world’s largest and most liquid markets,” Kiernan-Linn added. “We’re building a new trading experience where anyone can trade any strategy on any asset––all with just a wallet.”

Ostium leverages a unique design: a non-custodial, onchain perpetual futures market that disintermediates the centralized liquidity and exposure management characteristic of legacy FX/CFD brokers through the introduction of dynamic funding fees, allowing users to gain exposure to commodities, index and forex markets without the exchange managing the book. This innovative architecture positions Ostium to radically democratize access to macro-driven markets and compete against legacy, centralized FX/CFD brokers for the 80 million and growing monthly-active userbase, and the $50 trillion traditional asset retail trading market.

“A lesser known fact is that perpetuals are in fact quite similar to instruments that have been offered by FX brokers for years – cash-settled, non-expiring, synthetic primitives closely tracking the price of an underlying asset, enabling easy both long and short exposure – traded by over 50 million monthly active forex traders globally,” said Marco Antonio Ribeiro, co-founder and CTO of Ostium Labs. “However, onchain perpetuals are a fundamentally better instrument due to the introduction of funding rates, which incentivize market balance, and the ability to trade self-custodially, improving the adversarial market structure between platform and user. We strongly believe the retail FX trading market will be disrupted in the next 5 years and that it will be done by perps.”

Ostium’s shared liquidity model, unique fee architecture, and custom RWA price oracle facilitate perpetual creation on any asset with a liquid underlying off- or on-chain spot market. This flexible architecture enables rapid listing expansion across asset classes.

With its mainnet launch, Ostium aims to fill a critical gap for narrative-driven trading in the prosumer market. The platform’s ability to offer one-click, large-scale trades on macro events positions it as a leader in an underserved category. As global markets face increasing tumult, Ostium provides a novel platform to navigate and capitalize on these dynamic conditions, setting a new standard for accessible and flexible trading in an event-driven age.

For more information about Ostium and to start trading, visit www.ostium.io.

About Ostium:

Ostium is building Real World Asset perpetuals trading infrastructure to enable the ‘perpification’ of non-digital assets. The protocol leverages an in-house Real World Asset oracle network and pool-based on-chain liquidity engine to facilitate onchain exposure to traditional market assets. With founders and team members previously from Harvard, Bridgewater, and BlackRock, Ostium is backed by leading investors including LocalGlobe, General Catalyst, Susquehanna (SIG), and Alliance DAO.

Trading UI

Video – https://mma.prnewswire.com/media/2533994/Draft_12.mp4
Logo – https://megastockalert.com/wp-content/uploads/2024/10/Ostium_Logo.jpg
Photo – https://megastockalert.com/wp-content/uploads/2024/10/Updated_Trade_Form_24_10_16.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/ostium-launches-novel-macro-trading-platform-amidst-growth-in-global-events-based-trading-302280187.html

Featured Image: depositphotos @ kongvector

Disclaimer

Compare