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Crypto Exchange Binance Says it’s Still Profitable Even in this Bear Market

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Binance Labs

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.

Fast forward to 2019, and Binance’s trading volume — though significantly lower than it was during late 2017’s mega-rally — is the envy of other major venues. It is the largest virtual currency exchange by volume, according to CoinMarketCap, hosting $715 million in trades in the last 24 hours.

The firm hired Wei Zhou to take charge of its finances in September 2018. The executive has previously served in CFO roles at Chinese jobs site Zhaopin and TV ad company Charm Communications, navigating both businesses through their respective initial public offerings.

Asked whether Binance could seek a stock market listing of its own, given his background, he said there were “no plans” in the short term.

Wei Zhou is also credited as having orchestrated Chinese tech group Beijing Kunlun Tech’s acquisition of the gay dating app Grindr last year.

On the subject of potential mergers and acquisitions, he said “we’re always on the lookout for high quality products.”

Last year, the company bought crypto wallet maker Trust Wallet for an undisclosed amount and invested $2.5 million in Australian start-up TravelbyBit, which lets users book flights with cryptocurrency.

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BloFin Exchange enhances compliance and security with Chainalysis

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BloFin Exchange, a leading cryptocurrency trading platform renowned for its robust security measures and user-centric innovations, is excited to announce its integration with the Chainalysis blockchain data platform. This development is pivotal in enhancing the exchange’s compliance capabilities and safeguarding the assets of its global user base. Currently, BloFin offers up to 320 contract trading pairs and 100 spot trading services, achieving a hundredfold growth compared to 2023.

As part of its commitment to providing a safe and compliant trading environment, BloFin is implementing the Chainalysis crypto risk solution, enabling BloFin to monitor cryptocurrency transactions in real time, ensuring compliance with regulatory requirements and combating financial crime.

“We are thrilled about our collaboration with Chainalysis, which significantly enhances our platform’s security and compliance. In the crypto field, blockchain analytics is one of the most effective tools to prevent money laundering, and Chainalysis’ blockchain data platform is trusted by governments across the globe. At BloFin, we have always prioritized the security of our users’ assets. Our decision to collaborate with Chainalysis early in our development demonstrates our commitment to anti-money laundering. Integrating the Chainalysis crypto risk solution reinforces our commitment to these priorities. We are confident this collaboration will strengthen our ability to protect our community and set new standards for safety and trust in the cryptocurrency space. – Matt, BloFin CEO.”

BloFin has consistently been at the forefront of the crypto market due to its pioneering approach to product features and user experience. With a user-friendly interface and a suite of innovative trading tools, BloFin caters to the needs of both novice and experienced traders. Utilizing Chainalysis crypto risk solution further underscores BloFin’s dedication to regulatory compliance and operational transparency.

This integration aligns with BloFin’s strategic vision to utilize cutting-edge technologies that enhance user trust and security. By leveraging Chainalysis’ comprehensive blockchain analysis tools, BloFin can more efficiently identify potentially risky transactions, thereby protecting its community and contributing to the overall safety of the cryptocurrency ecosystem.

For more information about BloFin Exchange and its services, please visit https://blofin.com/.

About BloFin Exchange

BloFin is a global cryptocurrency exchange that offers a secure platform for trading various digital assets. The fastest-growing crypto exchange offers premium perpetual and futures trading services with over 320 USDT-M trading pairs, covering Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and various altcoins, along with up to 150X leverage. Seamlessly transition between our mobile app and web platform for uninterrupted trading, even on the go.

BloFin official website: https://www.blofin.com
Join BloFin’s account: https://www.blofin.com/register
BloFin Twitter: https://x.com/Blofin_Official

About Chainalysis

Chainalysis is a blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

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PlayFi Announces Strategic Alliances & Integrations with Four Industry Leaders to Enhance Gaming Innovation Through AI and Web3

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PlayFi, an AI-powered data network and blockchain tailored for the gaming industry, has announced new engagements with four industry leaders aimed at strengething the gaming ecosystem through enhanced technology integrations. PlayFi, which sits at the intersection of gaming, web3, and AI, will be working alongside Aethir, MultiversX, Squid, and Matter Labs, furthering PlayFi’s commitment to advancing the gaming industry with cutting-edge blockchain solutions.

“We are thrilled to be working with industry leaders like Aethir, MultiversX, Squid, and MatterLabs, on a shared mission to push the boundaries of what’s possible in gaming,” said Ben Beath, founder and CEO of PlayFi. “Together, we share a goal in creating a more interconnected, efficient, and immersive gaming ecosystem that will benefit developers and players alike. We are grateful for the work we’ve already done as partners and look forward to the milestones we will achieve together.”

The goal throughout all of these engagements allows PlayFi to enhance its web3 offerings across verticals by integrating advanced blockchain technology into the gaming ecosystem, enhancing cross-chain interactions, improving data security and accessibility, and providing seamless, cost-efficient experiences for developers and gamers. This will be achieved by:

  • Aethir’s GPU resources: As part of a shared commitment to optimizing GPU cloud computing resource use and enhancing technological capabilities across gaming and AI, PlayFi and Aethir are joining forces to harness this technological expertise and bring mass-market gaming to the blockchain, fostering approaches that support a robust gaming ecosystem and enable developers to build seamless Web3 experiences on top of Web2 IP. Aethir’s expertise in redistributing GPU resources by leveraging decentralized cloud infrastructure is vital to PlayFi, as it aims to enhance the gaming ecosystem and provide gamers worldwide with unparalleled experiences. In addition, PlayFi is also providing all Aethir Checker Node holders guaranteed whitelist access to PlayFi’s upcoming node license sale, ensuring they secure the best prices. More information on this integration can be found here.
  • MultiversX’s secure data storage: Through collaboration with MultiversX, PlayFi will enable the MultiversX ecosystem to leverage the PlayBase network – the AI-driven core of the PlayFi ecosystem – to securely store data from blockchain-powered games and sovereign chains. PlayFi will work with MultiversX on the development of specialized oracles compatible with the MultiversX infrastructure, offering seamless access to PlayBase’s rich data, thus unlocking new possibilities and enriching gaming experiences.
  • Squid’s SDK integration: PlayFi and Squid have joined forces to boost interactivity and accessibility within the PlayFi ecosystem. Together, this enables seamless token swaps across different blockchains. With Squid’s innovative API and SDK integration, PlayFi users can effortlessly swap any token type, connecting diverse blockchain environments such as Ethereum, zkSync, and Polygon. Thanks to this integration, in-game items, rewards, and other digital assets can now be won in one game and redeemed in another. This integration aims to set new standards in gaming by reducing costs, improving efficiency, and broadening market reach, ultimately expanding gaming possibilities and scaling user experiences at increased ease.
  • Matter Labs’ ZK Stack: Matter Labs’ ZK Stack is the powerful Layer-2 solution powering PlayFi’s PlayBase blockchain. By incorporating ZK Stack, PlayFi benefits from ultra-low gas fees, combining the efficiencies of ZK Rollups and Validiums, which significantly reduces costs while boosting transaction throughput. This integration also introduces native account abstraction, making PlayFi accessible to a broader audience by allowing transactions without a crypto wallet. With faster finality times, seamless connectivity, and liquidity access within the ZK Stack network, including zkSync, this integration ensures PlayFi remains at the forefront of blockchain infrastructure, providing a fast, affordable, and interconnected gaming experience.

“PlayFi unites AI and gaming, the two key sectors in which Aethir is engaged as a decentralized cloud computing provider. Through our collaboration with PlayFi, we are supporting cutting-edge innovations that leverage the power of AI to enhance Web3 gaming and introduce new, groundbreaking experiences for builders and players alike. Aethir’s DePIN stack is a reliable and highly-scalable ally of AI and gaming platforms, so teaming up with an industry innovator like PlayFi was a natural step for us,” said Daniel Wang, CEO of Aethir.

The PlayFi team is led by a 6x startup founder alongside builders who have impressive experience at Activision Blizzard, BumbleBear Games (developer of popular arcade game Killer Queen), Meta, BattleFly Game, and more.

About PlayFi

PlayFi is redefining gaming by integrating blockchain technology to enhance gameplay and community engagement. Through its cutting-edge PlayChain technology and AI-powered PlayBase network, PlayFi ensures a fast, secure, and scalable zkEVM blockchain solution, as well as optimal data processing and analysis tailored for the gaming industry. With a commitment to enhancing the gaming experience with web3, PlayFi is empowering developers, players, and studios across the globe to push the boundaries of innovation in an ever-evolving digital landscape and setting new standards in how games are played, developed, and monetized. For more information, users can visit playfi.ai.

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CyberConnect Rebrands To Cyber And Releases the First L2 for Social on Mainnet

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In partnership with AltLayer, Optimism, and EigenLayer, Cyber, the first L2 for social, has been launched on Mainnet!

Cyber leverages leading modular solutions, such as Optimism’s OP Stack and customized infrastructure secured by EigenLayer’s Actively Validated Services (AVS). To meet the unique needs of social applications, Cyber expands on these by integrating purpose-built tools developed by the team. To mark this significant launch, CyberConnect has rebranded to Cyber with a revamped VI and spun out Link3 to focus on its L2 and developer-centric offerings.

H2: Cyber, Previously Known As CyberConnect, Unveils The First L2 For Social

Cyber, formerly CyberConnect, has announced the launch of its L2 on Mainnet and its rebranded identity. This consolidates all the developer-centric solutions and infrastructure offerings released by the team under a single brand, centered around its new Layer 2 for social applications. Cyber aims to simplify application development through an all-in-one platform that integrates high-performance infrastructure and purpose-built tools.

Over the last few years, the team behind Cyber has introduced several products, including the CyberConnect Protocol, CyberWallet, and Link3, which have shaped the web3 social landscape. With a refined focus on their L2, Cyber is spinning out Link3 as a standalone brand. Rebranded Cyber comes with a fully revamped visual identity that’s young, bold, and adaptive, signifying the value social can bring to a diversity of use-cases. To celebrate the launch of Cyber and its rebrand, a commemorative NFT mint is being held.

H3: High-Performance Infrastructure With Purpose-Built Features For Social

Deployed by AltLayer using Optimism’s OP Stack, Cyber joins the Superchain alongside several OP stack L2s including Base and Mode. By doing so, it adopts a shared vision and pledges to contribute a portion of the revenue generated by its sequencer back to the Optimism Collective.

Cyber aims to facilitate the creation of social applications that offer a familiar web2-like experience, enriched with web3 benefits. Through native Account Abstraction and familiar authentication methods such as Passkey and Webauthn, Cyber enables FaceID wallet access for users. Cyber also natively supports Smart Accounts, allowing for gas sponsorship, which is crucial for user adoption.

For developers, Cyber incorporates features built by the team into its L2 to meet the specific needs of social applications. Cyber’s unique infrastructure features include its enshrined CyberConnect Protocol and CyberDB. These enable developers to interact with and store social data securely and efficiently.

During the next month, Cyber is focused on attracting projects and applications for users to engage and play in their upcoming Social Summer Campaign. To support ecosystem growth, Cyber has set aside $2M for grants to builders. It has already distributed $170k in $CYBER tokens during the pilot phase of their Ecosystem Grants program. Several additional grant rounds will come, so developers actively building or considering building innovative social apps and infrastructure are encouraged to join the ecosystem. Developers interested in building on Cyber can visit its Developer Documentation.

About Cyber

Cyber, the L2 for social, enables developers to create apps that transform how people connect, create, monetize, and share the value they generate.

By simplifying workflows and accelerating time to market, Cyber streamlines development through an all-in-one platform that integrates high-performance infrastructure—with ultra-low fees and high TPS—and purpose-built tools for social applications, such as the CyberConnect protocol and CyberDB. To meet the demand for a seamless UX in social applications, Cyber offers a familiar, web2-like experience enriched with web3 benefits, through features like native Account Abstraction and seedless wallets.

With 3 years of experience in building decentralized social networks, Cyber leverages its resources and knowledge to nurture a synergistic ecosystem with strong support systems atop its L2.

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STON.fi, Leading DEX in TON Ecosystem, Secures Funding from CoinFund

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Today, STON.fi, a leading decentralized automated market maker exchange (AMM DEX) built on the TON blockchain, announces a previously undisclosed round led by CoinFund with participation from Delphi Ventures, Karatage and TON Ventures, as well as Sergej Kunz and Anton Bukov, Co-Founders at 1inch, and Philipp Zentner, CEO of LI.FI. The funding will be used to fuel operations for STON.fi’s rapid growth, on a mission to expand DeFi services to Telegram users via instant exchange of Toncoin and USD stablecoins for any native token at the best rate.

STON.fi provides a decentralized cross-blockchain platform that allows users to effortlessly trade their crypto assets across multiple blockchains without the need for bridging or wrapping. Integrating seamlessly with the rapidly growing Telegram Messenger and its 900 million monthly active users (MAUs), STON.fi offers a user-friendly and accessible solution that empowers individuals to manage their digital assets while maintaining full control.

“STON.fi exists to make it simple and fair for everyone to access DeFi as easily as they use Telegram,” said Slavik Baranov, CEO of STON.fi. “STON.fi is building a cross-blockchain decentralized platform that provides a reliable and secure way to trade cryptocurrencies without relying on centralized institutions.”

The innovative and distinguishing aspect of STON.fi is the OMNISTON protocol, which allows the implementation of direct cross-chain swaps and eliminates the need for intermediaries or third parties. This approach minimizes user risk associated with security breaches and significantly enhances the transaction speed. Since the beginning of 2024, STON.fi’s liquidity measured by total value locked (“TVL”) has increased 26x and its MAUs 49x. Today, STON.fi is #1 in the two most important DeFi categories, TON native TVL with greater than $115M and spot volume of roughly $676M in April.

“STON.fi is the liquidity layer underpinning the consumer crypto activity on TON,” said Einar Braathen, Partner at CoinFund. “The seamless integration into Telegram Messenger opens up native possibilities for simple peer-to-peer transfers of digital assets, serving users where they are, and eliminating the need for intermediaries. STON.fi is poised to capture the real momentum driven by the cultural moment that Telegram is having right now.”

As Telegram has developed a global user base, its users have demonstrated they have real need for an app ecosystem underpinned by blockchain. STON.fi is a key building block for applications and mini-apps on Telegram enabling developers to easily integrate TON DeFi through the STON.fi SDK.

About STON.fi

STON.fi is the leading decentralized exchange (DEX) on the TON blockchain, characterized by its dominance in the number of available tokens, total value locked (TVL), trading volume and users. It is designed for seamless integration with TON wallets, enabling trading of any TON-based token. In addition, STON.fi offers advanced functionalities including farming and staking. The platform has also announced the development of innovative ‘OMNISTON’ protocol, which will allow cross-chain swaps, facilitating exchanging between different blockchains without the need for bridging or wrapping.

About CoinFund

CoinFund is one of the world’s first cryptonative investment firms and a registered investment adviser founded in 2015. The firm champions the leaders of the new internet, powered by foresight as active investors to achieve extraordinary outcomes. CoinFund invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure.

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XREX Singapore Receives MAS Major Payment Institution Licence

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XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator. This comes after it received its in-principle approval from the MAS in November last year.

Commenting on XREX’s engagement with the MAS, XREX Singapore Chief Executive Officer (CEO) Christopher Chye said, “Our engagements with the MAS have repeatedly shown us why they are internationally revered as a leading central bank and financial regulator. With this licence in hand, XREX Singapore will endeavour to bring blockchain-enabled digital payment currencies to ubiquity.”

XREX Singapore facilitates frictionless cross-border payments for import and export transactions, particularly for small-medium businesses (SMBs) in emerging markets. This strategic emphasis aligns with XREX’s mission to foster financial inclusion in emerging markets.

“The MPI licence is a testament to our unwavering commitment to the highest regulatory compliance standards. We look forward to working with one of the world’s leading regulators to make blockchain finance safe and accessible to the general public,” said XREX Co-founder and Group CEO Wayne Huang.

XREX Singapore will launch XREX Pay, a platform providing cross-border B2B payment features for corporates, as well as remittance solutions, such as helping migrant workers send money home. XREX Pay will support Singapore Dollar (SGD) and U.S. Dollar (USD) payment rails and stablecoins such as USDT and USDC, all while demonstrating a robust and practical implementation of the Financial Action Task Force (FATF) travel rule.

XREX Singapore’s licence encompasses a total of six payment services, namely:
i) Account issuance service;
ii) Domestic money transfer service;
iii) Cross-border money transfer service;
iv) Merchant acquisition service;
v) E-money issuance service; and
vi) Digital payment token service.

“XREX is approved for six of the seven payment services under the MPI licencing regime. With XREX Singapore as the group’s Asia Pacific headquarters, XREX looks forward to expanding its partnership with major banks, credit card institutions, and payment institutions to build next-generation financial systems that integrate traditional and blockchain finance,” said XREX Co-founder and Group Chief Revenue Officer Winston Hsiao.

About XREX

XREX Singapore is an MAS-regulated financial institution that leverages blockchain technology to make cross-border payments faster, cheaper, and safer for businesses globally. Its proprietary escrow payment feature, BitCheck, empowers enterprises to switch flexibly between digital currencies, stablecoins, or traditional currencies, thereby ushering their businesses into the new era of digital money. XREX Singapore also specializes in working with emerging markets businesses to help solve their issues with USD liquidity access.

XREX Group, is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. It provides enterprise-grade banking services to small to medium-sized businesses (SMBs) in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide.

Founded in 2018 and operating globally under multiple licences, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps.

Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education.

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JanOne to Acquire ALT 5 Sigma Inc., a Leading Next Generation Blockchain Financial Technology Provider

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JanOne Inc. announced today that it has executed a Definitive Agreement to acquire blockchain financial technology provider, ALT 5 Sigma Inc., a Delaware corporation, and each of its wholly-owned subsidiaries. The transaction is anticipated to close the week of May 13th, 2024 and is subject to customary closing conditions and regulatory requirements as applicable.

Launched in 2018, ALT 5 is a fintech that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT 5, through its subsidiaries, offers two main platforms to its customers: “ALT 5 Pay” and “ALT 5 Prime.”

ALT 5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT 5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT 5 Pay’s checkout widgets and APIs. Merchants have the option to convert to fiat currency (US Dollars, Canadian Dollars, Euros, and British Pounds Sterling) automatically or to receive their payment in digital assets.

ALT 5 Prime is an electronic over-the-counter trading platform, that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT 5 Prime is available through a browser-based access, mobile phone application named “ALT 5 Pro” that can be downloaded from the Apple App Store, from Google Play, through ALT 5 Prime’s FIX API, as well as through Broadridge Financial Solutions’ NYFIX gateway for approved customers.

According to Research and Markets.com “The Payment Processing Solutions Market size is estimated to grow from approximately USD 100 Billion in 2023 at a CAGR of 9.5% during the forecast period from 2023 to 2030.” In addition the report states, “Technological advancements, including artificial intelligence, machine learning, and blockchain, are revolutionizing the payment processing landscape.”
Source https://ca.finance.yahoo.com/news/global-payment-processing-solutions-market-121800862.html

“We believe that ALT 5’s innovative solutions provide significant competitive advantages in this market and together we can help them continue their growth,” said Tony Isaac, President and CEO of JanOne Inc. “The innovative products and services delivered by ALT 5 to its global customers are at the forefront of the payment processing industry and have contributed to reducing risk and eliminating costly credit card charge-backs. In addition, ALT 5 has developed a profitable business that we can assist to rapidly scale globally. With ALt5 as the foundation, we will begin working with the Alt5 team to identify additional opportunities for expansion of the product portfolio, and the scale of the business.”

Mr. Andre Beauchesne, President of ALT 5 Sigma Inc., stated, “Since our beginning in 2018, it has been one of our objectives to be a part of publicly traded company and being acquired by JanOne starts a bright new chapter in our growth story.” He added, “As we continue to build on our strong foundation, JanOne’s management team and public listing will help leverage many opportunities.”

Overview of the transaction

At closing, JanOne will issue to the former stockholders of ALT 5 1,799,100 shares of its common stock, which represents approximately 19.9% of JanOne’s will issue to the outstanding common stock as of May 10, and (ii) 34,207 shares of its Series B non-convertible, non-redeemable preferred stock. At closing ALT 5 Sigma Inc. and its subsidiaries shall become wholly owned subsidiaries of JanOne.

Additional details about the acquisition can be found on JanOne’s website at https://ir.janone.com/sec-filings or in JanOne’s filings with the Securities and Exchange Commission at https://www.sec.gov/edgar/browse/?CIK=862861&owner=exclude.

About JanOne Inc.

JanOne is a unique Nasdaq-listed company offering innovative, actionable solutions intended to help end the opioid crisis. JanOne is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation’s history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.

Please visit www.janone.com for additional information.

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XVC Tech Announces Strategic Investment in TradeTogether to Enhance Web3 Wealth Management

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XVC Tech, has invested in TradeTogether, a leading Web3 wealth manager based in Singapore. The venture capital firm founded by the creators of the XDC Network blockchain.

XDC Network’s ecosystem includes RWA dApps focusing on Private Credit (TradeFinex), Trade Finance (XDC Trade Network), tokenized gold (Comtech Gold) and tokenized US Treasuries (Yieldteq powered by Tradeteq).

Ritesh Kakkad, co-founder of XVC Tech, noted, “TradeTogether approached XVC with a strong emphasis on compliance, which is key in sectors like private credit and trade finance. We believe this focus on compliance will attract more institutional adoption, leading to increased utilization of the XDC Network’s use cases.”

Added TradeTogether’s CEO Geoff Ira, “XDC Network is a robust Enterprise-grade Layer 1 blockchain with a strong focus on Real-World Assets (RWA). We eagerly anticipate collaborating with XDC and its ecosystem of dApps to develop top-tier Web3-centric funds, driving intelligent capital into RWAs and Web3, while adhering to regulatory compliance standards.”

TradeTogether introduces two innovative investment options

  1. Firstly, the TradeTogether Bitcoin Advantage Fund, allows clients to invest in Bitcoin with added protection against market downturns, offering a better experience than traditional ETFs.
  2. Additionally, TradeTogether provides high-net-worth individuals and financial institutions with transparent solutions in tokenized bonds and Web3 products for receivable financing, moving away from the DeFi platform model.

TradeTogether has prominent co-investors such as Orbit Startups, Tenity, Boleh Ventures and Leo Ventures. Other Angel investors who participated in TradeTogether’s funding round since it’s inception includes Samuel Rhee (Chairman of Endowus), Varun Mittal (Group Head Innovation Singlife), Reuben Lai (Former Senior MD Grab Financial Group), Mx Kuok (KUOK Family), E. BABA de Rothschild (EGR Partners), Chandrima Das (Ex bento founder acquired by Grab), Nicolas Gallet (Gallet Capital), David Bachelier (CEO Asia at Flowdesk).

About XVC Tech

Founded by the co-founders of XDC Network, Atul Khekade and Ritesh Kakkad, XVC Tech is a US $125mn Fund focussed on exploring investment opportunities in NextGen Technology Solutions. Portfolio companies include DeGaming, a decentralized i-gaming infrastructure protocol, Bolero, a platform fractionalizing IP of music assets via smart contracts or Truflation, an oracle for RWA, indexes and inflation.

Current areas of focus include RWA, Web3 infrastructure, AI, and DePIN. For Web3 startups looking to make an impact, new investment opportunities are actively being sought. Users interested in learning more can visit XVC Tech at XVC.Tech to get in touch.

About XDC Network

The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain, operational since 2019 focusing on Enterprise use cases such as Trade Finance, Payment and RWA tokenization. More details at: Xinfin.org

About TradeTogether

TradeTogether Pte Ltd is a pioneering Web3 digital asset management company based in Singapore. Operating under a regulatory exemption since October 25, 2021, TradeTogether is at the forefront of innovative financial solutions in the digital asset space. Led by CEO Geoff Ira, who has a strong background in the financial and banking industry. For more information, users can visit TradeTogether.com

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New Collaboration: IPMB Partners with Sumsub for Enhanced Security and Customer Experience

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Today Sumsub, a leading global verification provider, is pleased to announce a new collaboration with International Precious Metals Bullion (IPMB), the only truly vertically integrated token operation in the world. IPMB manages the gold supply chain from the mine to the cloud, and in the vault.

IPMB has teamed up with Sumsub to secure continuous Transaction Monitoring, Know Your Customer (KYC) and Know Your Business (KYB) checks. This collaboration will allow IPMB to ensure smooth verification processes for both individual users and legal entities, and to stay protected from digital fraud throughout the customer lifecycle.

IPMB aims to provide people and organizations with reliable, safe and secure access to gold. Utilizing a dual-token model that comprises a gold-backed hybrid payment/utility token (IPMB) and a stablecoin (GeM NFT), the company offers compliant asset-backed digital products that can be redeemed in the physical form. By integrating Sumsub’s AI-driven solutions into its ecosystem, IPMB continues to drive blockchain innovation and maintain high customer acquisition rates while thwarting fraud.

“We are thrilled to embark on this exciting journey with Sumsub, a trusted global leader in verification and fraud prevention technologies. Together, we are poised to streamline our KYC/KYB processes, ensuring seamless onboarding for our clients while fortifying our defences against fraudsters. This alliance marks a significant milestone in our mission to provide the world access to economic freedom, and we look forward to the opportunities it brings our customers and stakeholders,” says John Vakis, Founder & CEO at IPMB.

“We are excited to start our collaboration with IPMB, a future-driven tokenized gold provider,” adds Andrew Sever, co-founder and CEO of Sumsub. “Gold ownership is usually considered a very conservative industry and it is astonishing that advanced blockchain technologies now allow people across the world easy access to this kind of investment. Coupled with providing responsible gold mining and sourcing, this innovative project corresponds with Sumsub’s mission of building a safe and inclusive digital future. So we’re eager to see the results of our companies’ cooperation.”

About Sumsub

Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring and Fraud Prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.

Sumsub has over 2,000 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Binance, Wirex, Avis, Bybit, Huobi, Unlimit, Flutter, Kaizen Gaming, and TransferGo.

About IPMB

IPMB (International Precious Metals Bullion) is a hybrid payment/utility token. The IPMB Ecosystem offers direct access to physical gold, allowing exposure to the stability of gold and the speed and security of the blockchain through a dual-token model. Through this innovation, IPMB is striving to change the gold industry forever.

IPMB vertically integrates the entire gold supply chain onto the blockchain. This allows us to optimise access, traceability and quality assurances in gold ownership. We use this solution to provide the world access to a gold-backed hybrid utility/payment token, $IPMB, and also access to the most affordable investment-grade gold on the market via our GeM NFT, a stablecoin product that waives all fees associated with modern-day gold ownership.

IPMB aims to provide the world access to economic freedom and opportunity, giving choice and control to accelerate a global transition to a low-cost, unified and transparent global currency. ‘From the mine to the vault, and in the cloud’, IPMB manages and operates physical gold production, sourcing, beneficiating, exporting, refining, stamping and vaulting of gold.

The IPMB Ecosystem is at the heart of the IPM Group, a group of companies spanning three continents and five countries.

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Cardano Spot & TapTools Join Hands For News & Data Sharing

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Cardano Spot offers its News API to Cardano native projects for free. Meanwhile, the TapTools platform leads the data aggregation for Cardano markets.

Singapore (1st April 2024): Cardano Spot is thrilled to announce a partnership with TapTools, Cardano’s native assets data aggregator. Cardano Spot, the first Cardano Social network, strives to educate and spread awareness about the ecosystem. This collaboration focuses on bringing the latest crypto news to the community.

Enhanced Visibility

The partnership is a significant move towards fostering a better understanding of the Cardano ecosystem, using accurate data and news updates within the Cardano community. Cardano Spot and TapTools facilitate comprehensive information and data insights to empower degens.

“Cardano Spot aims to educate the community and onboard new users to the ecosystem. Our strategic partnership with TapTools will optimise our efforts to provide accurate data reporting and enhanced news articles. Our News API brings the latest updates from the Cardano blockchain and its native projects. This collaboration further complements community-generated content and brings more engagement on both platforms,” stated Anuj Chaudhary, Content Head of Cardano Spot.

“Integrating Cardano Spot’s news articles into our platform is a great step forward in spreading awareness, and we’re thankful to be working together to provide great news and updates to the community,” said James Cadena, COO & Co-Founder, TapTools.

Educational Content

The collaborative effort is to create informative content to educate the community about several aspects of Cardano’s decentralised finance (DeFi) segment. Both entities work closely with the native projects, guiding the ecosystem to the next level. TapTools has consistently demonstrated its commitment to simplifying the Cardano ecosystem, making it more accessible to users.

Mutual Collaboration

This collaboration depicts just the beginning of what promises to be a series of impactful synergies between Cardano Spot and TapTools. Both entities share a mutual goal of enriching the Cardano experience for users. Reporting on the latest developments with accurate data will help to create impactful content and research papers.

In a nutshell, the partnership between Cardano Spot and TapTools signifies a shared commitment to promoting transparency, accessibility, and education within the Cardano ecosystem. Through this collaboration, users can expect enhanced access to timely and informative content, further empowering them to engage with and understand the evolving landscape of Cardano.

About Cardano Spot

Cardano Spot is an emerging Web3 social media platform developed with the Cardano community at its core. It is a home for Cardano enthusiasts, where users can stay updated with the ecosystem. They can also grow through insights into the market and connections with the community.

About TapTools

TapTools is an all-in-one data platform for Cardano native assets. The TapTools Pro suite comes with important tools like hot wallets, wallet profiler, volume profiler pro, and distribution pro. These tools are crucial for serious investors and traders. TapTools offers personalised watchlists for tokens, wallets, and CNFTs.

For media inquiries or further information, please contact:
Mozhalova Oleksandra
PR/Marketing Manager
[email protected]

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Etherland To Launch Tecra Space Funding Round

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Etherland will be launching a funding round on the blockchain investment platform Tecra Space on April 9.

This campaign will support the continued development of Etherland’s technology, addressing practical challenges within the global real estate industry. The solutions focus on streamlining processes, improving security, and creating greater efficiency for B2B transactions.

The Tecra Space campaign offers investors the chance to participate in this project with a range of investment tiers. Funds raised will directly fuel the expansion of Etherland’s technology and its real-world applications.

Tecra Space: Community-Focused Fundraising

Etherland’s decision to launch its fundraising campaign on Tecra Space aligns perfectly with the company’s goals. Tecra Space specializes in supporting early-stage blockchain projects. Unlike traditional fundraising models, it allows Etherland to raise capital without sacrificing ownership or control of its technology. This approach resonates with Etherland’s commitment to innovation and desire to maintain autonomy.

“Tecra Space shares our vision for decentralized innovation. Their model allows us to accelerate Etherland’s growth while ensuring our technology remains in the hands of our team and the community it serves,” stated Alexis Brand, the CEO of Etherland.

Here are the features Tecra Space offers for early participants:

  • Early Access: Investing early allows users to support cutting-edge blockchain solutions with the potential for growth.
  • Community-Driven: Tecra Space encourages a strong investor community, fostering collaboration and knowledge-sharing around promising blockchain projects.

Tecra Space: Participation Tiers and Rewards

The Tecra Space campaign offers a range of participation tiers, each with unique benefits and rewards. These include:

  • NFT Investment Certificates: Distinctive INVCERT NFTs granting special community status, investor communication channels, and voting power within Etherland’s DAO.
  • Top 15 Rewards: The top 15 contributors receive exclusive NFTs, including those from the “LANDAO” and “Lost Worlds” collections, and the opportunity to mint custom LANDIDs.
  • NFT Lottery: All participants are entered into a lottery with the chance to win valuable NFTs, supporting heritage preservation and unlocking potential future benefits.

A step-by-step guide to participating in the Tecra Space fundraising round:

  1. Starting Out: Interested Users can create a free account on the Tecra Space website.
  2. Choosing Funding Method: Users can select a preferred way to deposit funds – options typically include bank transfer, PayPal, debit/credit cards, or cryptocurrency.
  3. Finding the Etherland Campaign: Users browse through active campaigns on Tecra Space and locate the Etherland project page, of which will be live in the near future.
  4. Exploring the Tiers: Users should carefully review the available investment tiers and their associated rewards to find the best fit.
  5. Making Contribution: Users are to selected the desired tier, enter the amount, and complete the transaction using the Tecra Space wallet.

Etherland: Disrupting the Real Estate Industry with Blockchain Tech

The global real estate industry faces significant challenges, including slow processes, security vulnerabilities, and limited transparency. Etherland aims to address these issues head-on by leveraging the power of blockchain technology.

Here’s how Etherland’s approach offers tangible solutions:

  • Streamlining Transactions: Etherland’s ProApp employs decentralized identifiers, secure document management, and efficient workflows to accelerate the transaction process.
  • Bolstering Security: Blockchain’s inherent encryption and distributed ledger system provide superior protection for sensitive real estate data.
  • Promoting Transparency: NFTs generate tamper-proof records of ownership and property history, enhancing trust between all parties involved.
  • Powering the Ecosystem: The ELAND token plays a crucial role within Etherland’s network, enabling transactions, incentivizing participation, and offering governance rights.

Etherland’s focus on real-world applications of blockchain technology has the potential to streamline operations and create new opportunities within the real estate sector.

Beyond B2B: The Estatepedia and Heritage Preservation

Etherland’s ambitions extend beyond revolutionizing business transactions. The Estatepedia is a decentralized, blockchain-based encyclopedia of the world’s iconic landmarks. The Tecra Space funding round will allow the team to improve the technology behind Estatepedia, which relies on NFTs acting as secure digital vaults capable of storing vast amounts of historical data, images, and even 3D models associated with specific locations.

The Estatepedia has the potential to:

  • Preserve History: Create immutable records of cultural heritage sites, ensuring their stories endure.
  • Foster Global Collaboration: Enable communities worldwide to contribute knowledge and enrich the understanding of their local landmarks.
  • Safeguard Knowledge: Protect precious historical information from potential loss or alteration.
  • Impressive Track Record: The landmarks Etherland NFT collection has documented some of the most important landmarks on the planet and has a floor price of over ETH 1 ($3,200), with some sales exceeding $10,000.

The Tecra Space campaign is crucial for making the Estatepedia a reality. The development of secure storage, intuitive document management, and interactive community features directly supports this initiative. Tecra Space participants are early backers of a leading web3 real estate venture that champions the global effort to safeguard our shared human history.

About Etherland

Etherland’s blockchain-powered solutions address tangible problems, offering the promise of streamlined processes, greater security, and a more accessible market. The project’s ProApp has already been used to improve the documentation of real estate and landmarks, but now the team is looking to take the next step.

The Tecra Space campaign allows users to join this journey into real-estate innovation and be part of Etherland’s larger vision to preserve cultural heritage through Estatepedia.

A dedicated Etherland landing page will be published on Tecra in the coming days, where users can take part in the raise.

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