Daily Archives: April 14, 2022

Japan’s Top Messaging App LINE Launches Marketplace With 40,000 NFTs – Featured Bitcoin News

Japan’s Top Messaging App LINE Launches Marketplace With 40,000 NFTs – Featured Bitcoin News
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Japan’s top social network and messaging app, LINE, has launched a marketplace for non-fungible tokens (NFTs). The new service allows 90 million LINE users to send and exchange NFTs with their friends.

‘LINE NFT’ Marketplace Launched

LVC Corp., the operator of LINE’s crypto asset and blockchain businesses, announced Wednesday that it has launched LINE NFT, a non-fungible token marketplace available only in Japan. LINE described itself as “the fastest-growing mobile messenger app in the world.” It offers free messages, voice calls, and video calls.

“From today, LINE NFT will offer around 40,000 NFT products for sale, including Yoshimoto NFT Theater,” the announcement notes, adding that “Users can store purchased NFTs in their LINE Bitmax wallet.”

Yoshimoto NFT Theater comprises NFTs of videos by Yoshimoto Kogyo Holdings Co. Ltd. Bitmax is a cryptocurrency exchange launched by LINE in September 2019. It is accessible through the LINE app.

The announcement further details:

Through the LINE app — with a userbase of approximately 90 million in Japan — they can conveniently send or exchange NFTs with their LINE friends.

The LINE NFT marketplace will also offer NFTs of popular characters — including Gyuunyuu, Usagyuuun, and Betakkuma — and NFTs from the anime series “Patlabor: The Mobile Police.” The company added that more NFTs “from many different genres will be offered at a later date.”

Emphasizing the concept of “LINE Blockchain Designed For Everyone,” LVC Corp. said that going forward it aims to “provide NFT and other blockchain services and technologies that can be applied practically to users’ daily lives.”

Japanese e-commerce giant Rakuten is also launching an NFT marketplace. “Rakuten NFT is a service that provides a marketplace for users to purchase NFTs, as well as peer-to-peer buying and selling of NFTs, in a range of areas such as sports and entertainment, including music and anime,” the company described in an announcement on Feb. 25. “A service for peer-to-peer issuing and selling of NFT content is planned for launch in 2023 or later.”

What do you think about LINE launching an NFT marketplace? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Elon Musk’s ‘top priority’ for Twitter includes cutting down on crypto scam tweets

Elon Musk’s ‘top priority’ for Twitter includes cutting down on crypto scam tweets
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With a net worth of reportedly more than $300 billion, Elon Musk said he could “technically afford” to purchase Twitter outright, but also had plans to change the user experience of the major social media platform.

In a Vancouver TED conference held Thursday, Musk told curator Chris Anderson that if his offer to buy Twitter was successful, he would consider changing the way the platform handles controversial content, by not promoting certain tweets and adding the ability to edit tweets as well as show that history. The Tesla CEO added that under his prospective leadership, Twitter should be “reluctant to delete things” and permanently ban accounts, but would endeavor to encourage free speech according to respective countries’ laws.

“A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter,” said Musk. “They make the product much worse. If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin.”

Elon Musk speaking to TED curator Chris Anderson in Vancouver

According to a Wednesday filing with the United States Securities and Exchange Commission, Musk offered to purchase Twitter’s shares — aside from the roughly 9% that he already owns — for $54.20 per share, which represented a 38% premium over the stock’s closing price as of April 1. At the time of publication, shares of Twitter are priced at $45.08, having risen more than 30% in the last 30 days.

Reactions to the Tesla CEO’s potential ownership of the popular social media platform were mixed. Many lauded the move as a step in the right direction for free speech while others pointed to Musk’s own seemingly immature behavior on Twitter as well as his immense wealth.

“It takes some pretty impressive mental gymnastics to associate any type of ‘freedom’ with the richest man in the world initiating a hostile takeover and forcing one of the largest public social media platforms private,” said Jackson Palmer, the co-creator of Dogecoin.

Related: What Elon Musk’s investment could mean for Twitter’s crypto plans

The price of Dogecoin (DOGE) was largely unaffected by both Musk’s Twitter stock buy as well his offer to purchase the firm. As of April 4, Musk was the company’s largest shareholder, but was reportedly overtaken Thursday by Vanguard Group, which increased its holdings to more than 10% of Twitter’s shares. 

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Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa – Bitcoin News

Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa – Bitcoin News
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Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged the government to work out an alternative system for settlements with Moscow’s partners.

Chamber of Commerce Proposes Improving Russia’s Trade With African Nations

In a letter sent to Russian Prime Minister Mikhail Mishustin, President of the Chamber of Commerce and Industry of Russia Sergey Katyrin has laid out a set of proposals to boost economic relations with African nations. Among other ideas, the head of the Russian board of trade advocates for alternative payment options. Quoted by Tass, Katyrin insists:

It seems appropriate to instruct the Ministry of Finance, together with the central bank, to ensure the conclusion of intergovernmental agreements with African states on the use of national currencies and cryptocurrencies in mutual settlements and payments.

The official is calling on the federal government to create a new export-import bank and a trust fund tasked to back export activities of small and medium-sized firms to Africa. He also wants the Ministry of Industry and Trade and the Ministry of Economic Development to establish trade missions and free trade zones in the African countries with the greatest potential to expand ties.

Katyrin is urging the two departments to work out a new settlement mechanism for external and internal payments, including cryptocurrencies. The system can be implemented in settlements for concessions for natural resources, investment projects, export operations, and other payments. He also suggests the establishment of a Russia-Africa Trading House.

The head of the chamber emphasizes that the development of this kind of cooperation with “friendly areas” is of paramount importance for the Russian Federation. His proposals come as mounting western sections imposed over the war in Ukraine continue to limit Moscow’s access to global finances and its currency reserves in foreign banks.

The restrictions are convincing Russian officials that crypto assets can help the country to return to global markets and substitute the U.S. dollar and the euro with other national and digital currencies. While the Bank of Russia is skeptical about using cryptocurrencies to circumvent sanctions, the Finance Ministry is leading efforts to legalize them and says that the penalties motivate Russia to create its own crypto market infrastructure.

Tags in this story
Africa, african, board of trade, chamber of commerce, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, international trade, Payments, proposal, Proposals, restrictions, Russia, russian, Sanctions, Settlements, trade, Ukraine, War

Do you think Russia will employ cryptocurrencies in international settlements with trading partners? Share your expectations in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Archie Comics and Palm NFT Studio want fans to co-create the comic’s future series

Archie Comics and Palm NFT Studio want fans to co-create the comic’s future series
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American comic book publisher Archie Comics, known for its iconic Riverdale characters, is leveraging the blockchain to develop fan-generated art and stories as well as Archie-inspired nonfungible token (NFT) collections. Laura Braga and Vincezo Federici, the artists behind the 80-year-old franchise, partnered with Palm NFT Studio, to create a new blockchain-based writer’s room called the “Archiverse: Eclipse.” 

Source: Palm NFT Studio

According to the company, the Archiverse intends to empower Archie Comics fans to author the brand’s future through generative storytelling. Its writer’s room invites fans to create and submit new storylines for their characters. The creators of selected submissions will be directly rewarded and granted story credits from future comic series integration. 

Archie CEO Jon Goldwater said in a statement that since the success of the television adaptation of Archie characters in “Riverdale” and the emergence of blockchain technology, “we knew we had to find the right partner and platform to introduce Archie 3.0. We cannot wait to introduce the gang to a whole new audience in a whole new way.”

The world of Archie 3.0 will be heralded by an NFT drop of a PFP project inspired by “The Chilling Adventures of Sabrina,” a series published by an imprint of Archie Comics called Archie Horror. Archieverse: Eclipse NFTs will comprise 6,666 generative characters and 3,000,000,000 outcomes will be released on May 16th, the night of a Blood Moon, and challenge collectors to crack an “ominous” prophecy. 

When it comes to writer’s rooms, traditionally made up of show-runners, producers and TV writers, a blockchain writer’s room differs in that only NFT holders can access and participate in content creation. The largest one at the moment belongs to Jenkins the Valet, the “eyes and ears” of the Bored Ape Yacht Club. Cointelegraph spoke to Jenkins about what it takes to portray Apes and Mutants in an upcoming book penned by New York Times best-selling author Neil Strauss.

As for carrying out large-scale intellectual property (IP) licensing in the NFT space, Palm NFT Studio is no Web3 rookie. It recently launched an NFT project with Warner Bros. Consumer Products’ DC Comics known as “The Bat Cowl Collection,” a drop of 200,000 unique 3D-rendered Batman cowl NFTs. Matt Mason, the chief content officer at Palm NFT Studio spoke to Cointelegraph about how “emblematic IP can operate as digital social objects by fostering authentic fan participation and community.” He added that the Bat Cowl Collection invites DC universe fans to create their own unique identities and have access to exclusive rewards.

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Bitcoin STH SOPR Breaks Above 1 For First Time Since December

Bitcoin STH SOPR Breaks Above 1 For First Time Since December
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On-chain data shows the Bitcoin short-term holder SOPR has broken above one for the first time since December 2021.

Bitcoin Short-Term Holders Return To Profit Once Again

As pointed out by an analyst in a CryptoQuant post, the BTC STH SOPR has once more broken past the “one” barrier.

The “Spent Output Profit Ratio” (or SOPR in short) is a Bitcoin indicator that tells us whether coins selling right now are selling at a profit or a loss.

The metric works by looking at the price history of each coin being sold on the chain to see what price it last moved at.

If the last price was less than the current one, then the coin has been sold at a profit. Similarly, a loss is when the current price is lesser.

When the value of the Bitcoin SOPR is less than one, it means investors are, on an average, selling at a loss at the moment. On the other hand, ratio values above one imply that the overall market is realizing a profit currently.

Related Reading | Can The 600-Day MA Support Line Push Bitcoin Again?

A modified version of the indicator shows the profit ratio for only those coins that were held for less than 155 days before being sold.

Such coins belong to a cohort of investors called the “short-term holders.” The below chart shows the trend in the Bitcoin STH SOPR (30DMA) over the past year:

The indicator seems to have just crossed over the "one" mark recently | Source: CryptoQuant

As you can see in the above graph, the Bitcoin STH SOPR has broken above one once again over the last few days. This is the first time that short-term holders have been selling at a profit since December of last year.

The significance of the SOPR equal to 1 line is that it acts as a break-even point. The mark has acted as support for the price of the crypto in the past.

Related Reading | Bitcoin Mimics Textbook Market Sentiment Cycle, What Happens When Confidence Returns?

But also, because of it being a break-even point, it has also acted as resistance before. Reaching the mark psychologically feels like getting their money “back” to investors who were in loss previously so they tend to sell around this mark, hence leading to it becoming resistance.

Just a month or ago the metric retested the level, but it failed and rebounded back down. It remains to be seen now whether this time the Bitcoin STH SOPR will hold above one or not.

BTC Price

At the time of writing, Bitcoin’s price trades around $41.2k, down 5% in the past week.

Bitcoin Price Chart

BTC's price shows some recovery | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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North Korean Lazarus Group allegedly behind Ronin Bridge hack

North Korean Lazarus Group allegedly behind Ronin Bridge hack
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The United States Treasury Department Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons (SDN) list was updated Thursday to reflect the possibility that North Korean cyber-criminal Lazarus Group was behind last month’s hack of the Ronin Bridge, in which over 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) was taken, Chainalysis announced by Twitter. The information was also confirmed by Ronin. 

The hack, which took place on March 23, was worth over $600 million at the time. Discovered several days after the fact, it is one of the biggest robberies of its kind in history. The coin came from the play-to-earn role-playing game Axie Infinity developed by the Vietnamese studio Sky Mavis. The game’s developers have raised over $150 million in an effort to reimburse users affected.

This is story is in development and will be updated.

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ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’ – Economics Bitcoin News

ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’ – Economics Bitcoin News
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After the inflation rate in the eurozone reached a high of 7.5% in March, the European Central Bank (ECB) and the bank’s president Christine Lagarde explained on Thursday the central bank’s bond purchases will cease in Q3. Reiterating what she said at a press conference in Cyprus two weeks ago, Lagarde stressed on Thursday that inflation “will remain high over the coming months.”

European Central Bank Plans to End Asset Purchase Program in Q3

The eurozone is suffering from significant inflationary pressures as rising consumer prices are ravaging European Union (EU) residents. In March, data from the ECB had shown consumer prices skyrocketed to 7.5% and the ECB’s president Christine Lagarde expected energy prices to “stay higher for longer.” On April 14, members of the ECB met and then told the press that the central bank plans to cease its APP (asset purchase program) by the third quarter.

“At today’s meeting the Governing Council judged that the incoming data since its last meeting reinforce its expectation that net asset purchases under the APP should be concluded in the third quarter,” the ECB disclosed to the press. After the APP ends, the bank is expected to start hiking the benchmark bank rate. However, in Lagarde’s opinion, it will depend on what happens with the current Ukraine-Russia war.

The EU’s economic improvement, Largade said “will crucially depend on how the conflict evolves, on the impact of current sanctions, and on possible further measures.” The central bank’s message on Thursday highlighted that benchmark bank rates won’t change until end of the APP. “Any adjustments to the key ECB interest rates will take place some time after the end of the Governing Council’s net purchases under the APP and will be gradual,” the ECB detailed in a statement.

Fidelity International Global Macroeconomist: ECB Faces a ‘Tough Policy Trade-off’

Following the ECB’s and Largade’s statements, the gold bug and economist Peter Schiff threw in his two cents on Twitter about the central bank keeping rates suppressed. “The ECB announced interest rates will stay at zero until it judges inflation will stabilize at 2% over the medium term,” Schiff tweeted. “Eurozone inflation is currently 7.5%. How will throwing more gasoline on a fire put it out? Europeans are stuck with inflation well above 2% indefinitely.” Schiff continued:

The dollar is rising against the euro because the Fed is still pretending it will fight inflation, while the ECB is still pretending inflation is transitory. Once both banks stop pretending the dollar will fall against the euro, but both currencies will collapse against gold.

Speaking with CNBC on Thursday, global macroeconomist at Fidelity International, Anna Stupnytska, said the European Central Bank faces a “tough policy trade-off.” “On the one hand, it is clear that the current policy stance in Europe, with interest rates still in the negative territory and the balance sheet still growing, is too easy for the high level of inflation which is becoming broader and more entrenched,” Stupnytska remarked after the ECB’s statements. The Fidelity International economist added:

On the other hand, however, the Euro area is facing a huge growth shock, simultaneously driven by both the war in Ukraine and China’s activity hit due to zero-COVID policy. High frequency data already point to a sharp hit to Euro area activity in March-April, with consumer-related indicators worryingly weak.

Tags in this story
7.5%, 7.5% inflation, Anna Stupnytska, App, Asset Purchase Program, Bond Purchases, Central Bank, Christine Lagarde, Covid, Dollar, ECB, ECB bond purchases, ECB’s president, EU, EU Inflation, Euro, European Central Bank, European Union, Fed, Fidelity International, global macroeconomist, gold, inflation, Inflation in Europe, Inflation in the EU, interest rates, Peter Schiff, rate hikes

What do you think about the ECB explaining that bond purchases will end in Q3 and the discussion concerning raising the benchmark bank rate? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Uniswap Launches Product In The Midst Of Lawsuit, UNI Reacts Bearish

Uniswap Launches Product In The Midst Of Lawsuit, UNI Reacts Bearish
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Uniswap’s governance token UNI has been trending to the downside following the general sentiment in the market. The token records a 2% loss during the last day as two major events take UNI holders’ attention and could suggest more downside price action for the short term.

Related Reading | Uniswap Registers Yearly Low: Vital Trading Levels To Follow

At the of writing, UNI trades at $9.4 with a 6% loss in the past 7-days.

UNI is trending to the downside in the 4-hour chart. Source: UNIUSDT Tradingview

Yesterday, news broke about a class action lawsuit against this decentralized exchange (DEX) developer Uniswap Labs, its inventor Hayden Adams, and other major investors in the project. Filed as a class action in the Southern District of New York with Nessa Risley representing the plaintiffs.

These people are suing Uniswap Labs and others claiming that they have “unlawfully promoted, offer, and sold unregistered securities” on the DEX. In addition, they claim that Uniswap’s lack of a Know Your Customer (KYC) policy has enabled alleged cases of fraud without the DEX taking measures to prevent these supposed activities.

Furthermore, the plaintiff claims the DEX and the defenders have benefited from “undisclosed fees” collected on “every transaction” executed with the platform in an alleged violation of the U.S. Securities laws, according to the document. The plaintiffs also accused the platform of selling scam tokens.

These include Rocket Bunny, BoomBaby.io, Matrix Samurai, EthereumMax, and others. The plaintiffs claimed these tokens failed to file a registration with the U.S. Securities and Exchange Commission (SEC).

Uniswap is a decentralized exchange running on Ethereum and operating under a governance model controlled by UNI holders. Unlike centralized exchange it is permissionless, and its smart contracts respond to no centralized authorities for the benefit or detriment of any party.

According to the document filed with the court, Risley and the other plaintiffs were not familiar with Uniswap. At least, the document suggests they have little experience trading on the platform before incurring alleged “substantial losses” which led to their lawsuit.

Uniswap Releases New Product

Less than 24 hours after the class action was filed, Uniswap Labs launch a Swap Widget feature to allow users to “seamlessly swap tokens anywhere across the web”. The dApp is accessible via certain platforms, such as Open Sea and Oasis.

The product is part of an Uniswap expansion initiative which is aim at providing “everyone” with access to “fair, open, and transparent markets”. The Widget is supposed to be easy to integrate by developers as it would only require “one line of code”.

Related Reading | Ethereum At $3028, Where Is The Next Critical Support Level For ETH?

The Uniswap community has positively reacted to the announcement. However, the DEX’s native token has trended to the downside, likely due to its correlation with Bitcoin and other larger cryptocurrencies.

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NFT for Arabian Horses to Gallop Soon at the Al Sheikh Stud in Partnership With Finvault – Press release Bitcoin News

NFT for Arabian Horses to Gallop Soon at the Al Sheikh Stud in Partnership With Finvault – Press release Bitcoin News
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press release

PRESS RELEASE. UAE – DUBAI, 14 April 2022: Renowned to be a haven of thoroughbred Arabian horses, the Al Sheikh Stud embarks on a strategic journey to accommodate the growing demand for NFTs in the industry. In alliance with Atria Holdings and Finvault; the Stud farm is revving up its finest line-up of purebred Arabian Horses for the new digitized valuation.

Joining hands to create a marketplace for NFTs for Arabian horses; Finvault, a Web3 banking platform, and Atria Holdings, investors in innovative solutions; are ushering in a digital era for these high-valued horses. The strategic alliance will work closely to develop high-value NFTs for purebred Arabian horses belonging to the Al Sheikh Stud. Arabian horses, with their distinctive head shape and tall carriage are the most elite breed in the world. Apart from breeders, race enthusiasts, and discerning clientele; they reserve a special interest in the minds of artists and prestigious admirers. The NFTs are being developed to complement such unique investment opportunities in the world of Arabian horses.

Speaking about the new venture at Al Sheikh Stud, Mohamad Al Sheikh the founder of Al Sheikh Stud said; ”While the beauty of purebred Arabian horses is admired worldwide, the digital currency revolution demands an investment option of another kind. We are piloting the NFT for Arabian Horses in the region and hope that our esteemed clientele is as excited as us about this new undertaking. Apart from developing and securing the NFTs, we will also be collaborating with leading regional events to reach our valued customers.”

Poised to be the first of its kind, the NFTs are being developed to enable investors to trade in real purebred Arabian horses via digital currencies. To cater to the rise in demand for virtual investment opportunities, the NFTs will also be valued on a digital scope to be relayed further in advanced usages like simulated racing, breeding, and gaming. Finvault holds the right to reserve and limit the use of the NFTs depending on valuation and requirements.

Sharing details about the partnership, Finvault CEO, Punit Thakker said, “Finvault is delighted to be the creator in this venture with Atria Holdings as a technology partner. To create and build this NFT marketplace for Mohammad Al Sheikh’s legendary thoroughbred Arabian horses is a unique opportunity and one we are very excited about. With Dubai recently adopting its first crypto law and forming a regulatory body for virtual assets, the region is accelerating its trajectory to become the leading global virtual hub. At Finvault, we are on a mission to promote the mass adoption of blockchain around the world. We are thrilled to be part of such a high-profile project that will aid in this. The Arabian horse NFTs are just the beginning and we look forward to a long and successful partnership.”

The NFTs are likely to be launched by End of August and will be available for digital currency buyers across the globe.

About Al Sheikh Stud

Home of the legendary thoroughbred Arabian horses, the Al Sheikh stud is located in the heart of Belgium with an office in Dubai, UAE. Owned and established by Mohammed Al Sheikh in 2016, it has earned a favorable reputation for breeding and raising the elite Arabian thoroughbred. Its highly experienced and professional staff combined with world-class facilities makes for an ideal environment for breeding, foaling, weaning as well as training the horses for world championships. Some of its star performers like Equator, Serenza, and Al Gamra have held the stud’s flag flying high in the international arena of the Arabian Horse World Championship. Also it’s worth mentioning that Al Sheikh Stud’s Junior COLT, D-Mezyan won Gold at the World Arabian Horse Championship 2021. The 40th edition of the international championship which was held at the Salon de Cheval in the French capital, Paris.

About Atria Holdings

A UK-based investor firm, Atria Holdings is parent to several startups and businesses like Al Sheikh Real Estate, Al Sheikh Stud. The entity was legally formed by Mohammed Al Sheikh Suliman in 2020 to manage all businesses under one umbrella. With investments and stakes in innovative businesses across the globe, the brand is on a mission to empower innovation and walk that extra mile for ideas that inspire social impact.

About Finvault:

Finvault is a Web3 banking platform that gives individuals and businesses full control of their money and digital assets, all in one secure vault. They are bridging the gap between Traditional Finance and Decentralised Finance (DeFi) to create ‘Banking 3.0’ and draw a line between conventional banking and DeFi.

www.finvault.com

Point of contact and media enquiries:

Rebecca Reid

Head of Marketing at Finvault

rebecca@finvault.com

Point of contact and media enquiries:

Lina Husri

PR for Atria Holdings

lina@thinksmart.ae

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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A Peek Into the Wallex Ecosystem

A Peek Into the Wallex Ecosystem
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With lots of cryptocurrency protocols in the virtual space, there’s still a need to create a balance between fiat and digital currencies. The major bridge comes on compliance and AML levels, as many people have devised their means of circumventing the necessary procedure. Wallex brings outstanding measures and is pioneering as the lead in creating stability and compliance in the world economy through digital assets.

What is Wallex?

Wallex is a technological ecosystem that offers assets and digital assets to several users to carry out their business and daily lives. It serves different individuals, businesses, exchanges, broker-dealers, fintech projects, real estate platforms, financial institutions, OTC desks, crowdfunding portals, and others. The activities of Wallex are in over 200 parts of the world, including South America, Europe, North America, Africa, Asia, etc.

The operations of Wallex cut across numerous aspects and phases of lives. Some of its services are linked to the following:

  • Payments
  • AML and Compliance
  • Custody
  • Neobanking
  • Trading
  • Tokenization
  • White label solutions
  • Decentralized investment
  • Wealth management
  • Trustee

Pillars of Wallex Ecosystem

Wallex divided its general functionality into five major pillars, namely:

  • Neobanking – Through neobanking, Wallet offers its customers unlimited access to several cryptos and fiat currency accounts. They could easily deposit, withdraw, exchange and spend their cryptocurrencies with cards. Also, neobanking inculcates wallet, business banking, institutional engagements, staking, and
  • Custody – With the Wallex custody account, users could perform different activities. They could transfer assets from the crypto accounts, make exchanges with fiat currencies, and others. Custody involves the account’s vault, Escrow, and Custody Pro.
  • Trust – Wallex Trust operations cut across wealth management, wealth container, tokenization, and insurance.
  • Pay – Payment in Wallet passes through several methods. These include payment gateway, Eurst, Tokask, and Trustchain.
  • Exchange – Wallex maintains several activities through its exchange. These include borrowing, earning, ProTrade and others.

Founder and CEO

The founder and CEO of Wallex is Simone Mazzuca. He applies a combination of traditional financial and blockchain technology to create a formidable, strong, and reliable ecosystem that will secure even the future. Mazzuca has several years of experience in financial consulting and was a manager of private and institutional clients in the USA, UK, and Italy.

Wallex Contributory Strategy

Wallex is building its ecosystem using a contributory strategy that helps it to improve the economy. The protocol creates a bridge for millions of investors and users such that they can easily access the dividends of the virtual space through blockchain technology.

Wallex strategy is built on the following 5 pillars:

  • To create a link to the new financial world.
  • Develop a transparent and reliable financial ecosystem.
  • Impact the masses on how to utilize the blockchain
  • Keep up good contact with the customers.
  • Harness its organizational structure to proper maintenance and development of talents.

Wallex Past Achievements

Wallex has made several great achievements in the past that depict the great stance of its ecosystem.

Here are some of its milestones.

  • Launch of Wallex Custody
  • Initiation and launch of the EURST project. This made a great wave for Wallex as the project enabled the pegging of fiat currency to the digital stablecoin. It’s a method to control the high volatility of digital assets.
  • Wallex Bank and Statutory Trust incorporation.
  • Launch of Wallex Bank.
  • Launch of Wallex 2

Wallex Future RoadMap

Wallex has laid out some plans that will help it to keep up with its strategies in providing continuous services to its customers. Some of its roadmaps include:

  • Launch of WLLXB V.3
  • Issuance of more than 13 stablecoins.
  • Launch of crowdfunding platform.
  • Launch of Tokash
  • Increasing its number of customers to 1 million.
  • Launch of asset tokenization platform.
  • Opening of First Wallex Store
  • Establish a full ecosystem and become a Commercial Trust of Digital currencies.

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