eToro Quarterly Report: Q2 2020, stablecoins find a mainstream use case
In areas where unrest and inflation run rampant, individuals and businesses are increasingly turning to stablecoins to hedge against depreciation and send funds abroad quickly and cost effectively. This is just one of the findings in new research released today by social investment platform eToro and The Tie, which examines the main themes and drivers within the crypto market.
Countries like Venezuela (where inflation exceeds 15,000 percent), and Iran (where inflation is over 34 percent) are seeing significant adoption of digital assets including Tether (USDT), which has more than doubled in overall value to around $10 billion since the start of the year, our research has found.
“While media coverage in Q2 continued to focus on bitcoin, the real story emerging from the data is centered around stablecoins,” said Guy Hirsch, US Managing Director for eToro. “Fiat inflows into stablecoins exceeded $5B in only six months. We might be on the cusp of a systemic change, where developing countries that are searching for a way to ‘exit’ fiat-controlled government systems.”
Additional key findings include:
- Investor sentiment around bitcoin and gold became increasingly correlated as directional price movement remains disconnected. In June, the price of bitcoin and gold futures only moved in the same direction 50 percent of the time, while bitcoin and S&P 500 futures price moved in the same direction 62 percent of the time.
- Many altcoins continue to outperform bitcoin intra-quarter. This past quarter, Cardano’s ADA and Ether saw the largest jumps in price, up 175 percent and 70 percent, respectively. This came as bitcoin performed in the middle of the pack in Q2, as the 8th best performing of the 15 assets available on eToro US.
- DeFi has become a major part of the cryptocurrency narrative, with more media mentions of DeFi in Q2 than bitcoin’s halving. However, media mentions of DeFi remain exclusively within crypto native publications, and despite the hype the market is still extremely small, likely in the low thousands of users.
- Tezos was the only crypto which saw an increase in the percentage of eToro users investing in it. All other cryptoassets saw decreases as eToro users globally increasingly invested in stocks.
The report also includes interviews with some of the best performing investors on eToro, sharing their unique perspectives on where they see the best opportunities. Additionally, insights are also included from Arca’s vice president of research, Katie Talati; and Tron founder Justin Sun.
Cboe Digital Receives Approval to Launch Margin Futures on Bitcoin and Ether
Cboe Clear Digital announced it has received the necessary approval from the Commodity Futures Trading Commission (CFTC) to expand its product offering to include margined futures contracts. The initial product launch will include physically and financially settled Bitcoin and Ether contracts in the second half of 2023. Cboe Digital is the first U.S. regulated crypto native exchange and clearinghouse combination platform to offer leveraged derivatives products. Cboe Digital’s vision to bring trust and transparency to crypto spot and derivatives markets is an intermediary-inclusive model.
Cboe Digital to date has offered trading and clearing of Bitcoin and Ether futures on a fully collateralized basis, which require customers to outlay the full amount of a futures contract upfront. The new margin model will require only a percentage of the total posted as collateral, enabling customers to trade futures in a less capital-intensive way. Trades will be executed and cleared through an approved set of member Futures Commission Merchants (FCMs) with Cboe Digital’s clearinghouse acting as the central counterparty.
“We are grateful to the CFTC for working with us as we continue to build out our vision for a transparent, U.S. regulated crypto marketplace that welcomes intermediaries,” said John Palmer, President of Cboe Digital. “Derivatives are a time-tested and valuable tool that enable investors to gain market exposure and manage their risk.”
Cboe Digital has the unique ability to trade spot and margin futures on the same platform, which fills a key gap in the US landscape, and brings greater cost and operational efficiencies to enhance customers’ trading experience. In addition to margin futures, Cboe Digital’s spot market supports trading in Bitcoin, Bitcoin Cash, Ether, Litecoin and USDC. Cboe Digital’s unified spot and derivatives markets are underpinned by responsible innovation.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.
About Cboe Digital
Cboe Digital offers individuals and institutions a single, innovative platform to access crypto spot and futures markets. By combining professional tools, advanced technology, sophisticated regulatory oversight, and a diverse product set, Cboe Digital offers compliant, capital markets friendly workflows to digital market participants. Backed by some of the world’s largest trading firms and financial institutions, Cboe Digital brings transparency and reliability to the digital asset class.
Cboe Digital Futures are offered through Cboe Digital Exchange, LLC, a CFTC registered DCM and Cboe Clear Digital, LLC, a CFTC registered DCO. The CFTC does not have regulatory oversight authority over virtual currency products including spot market trading of virtual currencies. Cboe Digital’s Spot Market is not licensed, approved or registered with the CFTC and transactions on the Cboe Digital Spot Market are not subject to CFTC rules, regulations or regulatory oversight. Cboe Digital Spot Market is subject to certain state licensing requirements and operates in NY pursuant to Cboe Clear Digital’s license to engage in virtual currency business activity by the New York State Department of Financial Services. Cboe Digital and the Cboe Digital logo are trademarks of the Cboe Global Markets Group of companies. To learn more, visit www.cboedigital.com.
Unidef Introduces Decemount to Expedite Global Shift to Decentralization
Today, Unidef (unidef.org), a global network of organizations focused on hastening the global shift to a decentralized future, proudly unveils its latest initiative, Decemount. This ambitious project seeks to fund and empower talented individuals and teams working on projects aligned with the vision of a decentralized future.
Decemount, also known as Unidef Decemount, is a vibrant global community composed of creators, builders, communities, organizations, and ecosystems dedicated to advancing the world toward a decentralized future. Decemount aims to cultivate an ecosystem of projects, infrastructure, and organizations that will develop into the largest network of decentralized entities, accelerate the global adoption of Unidef (U), and explore synergies connecting its value to the wider Web3 ecosystem.
Azim Ghader, Global CEO of Unidef, said: “The launch of Decemount marks a significant milestone for us, and we are thrilled to support teams worldwide who share our mission of accelerating the world’s transition to a decentralized future.”
Decemount allows like-minded individuals from diverse backgrounds to unite under a common goal: building a better future through decentralization. The initiative offers resources, training, and mentorship opportunities to help teams successfully develop their projects.
“We’re challenging the status quo and introducing a new paradigm in decentralization—one where people and communities hold the power to change the world,” Azim added. “That’s why we’re dedicated not only to supporting powerful tools but also ensuring that everyone has access to them.”
Unidef and its members are steadfastly devoted to promoting and advancing decentralized technologies, protocols, assets, entities, and initiatives that empower the world to control its finances, data, and identity and engage in a decentralized future. Unidef furthers its mission by strategically investing in entrepreneurs and organizations driving industry advancements and by awarding grants to diverse groups, individuals, and projects focused on decentralization and aligned with Unidef’s vision and mission.
With its launch today, Decemount marks an exciting new chapter for both Unidef and Web3 as a whole. As more projects join this network over time, it could potentially become one of the most influential forces driving adoption in this space for years to come.
Unidef is a global network of organizations working to accelerate the world’s transition to a decentralized future. It invests in and supports communities and builders of next-generation technologies, incubates creative ideas in the Web3 space, and provides institutional support and organizational backing.
For more information and updates, visit www.unidef.org and follow @UnidefGlobal on Twitter, Telegram, Instagram, and Facebook.
Decemount is a network of DAOs (Decentralized Autonomous Organizations) working together to empower the next generation of organizations with $U-governed initiatives. It is a part of Unidef’s interconnected network of organizations that work to accelerate the world’s transition to a decentralized future.
For more information and updates, visit www.unidef.org/decemount and follow @Decemount on Twitter, Telegram.
About Azim Ghader
Azim Ghader is an entrepreneur, investor, philanthropist, and the Global CEO of Unidef. He leads a global network of member organizations working together to accelerate the world’s transition to a decentralized future, empowering all individuals to take control of their finances, data, and identity.
FLASK Expanding Communication With Users to Enhance Participation-driven NAODA Platform
Web 3.0 and gaming platform creator FLASK has announced that it will enhance its participation-driven Game-Fi platform NAODA (http://naoda.xyz/) by further strengthening communication with users, creating an even more inclusive and user-friendly platform that is accessible to everyone.
Today, NAODA and Connext Network – a modular interoperability protocol that lets users build secure crosschain apps – will host a communication session with NAODA users through Twitter Spaces. The session is an opportunity for users to share opinions and feedback about their experiences on the platform.
This will be followed by the unveiling of additional NAODA Proof of Participation (POP) badges that reflect user feedback. POP is NAODA’s Soulbound Token (SBT) and serves as credentials for participating in community and gaming activities.
One of the newly announced 5-star POP badges is the ‘Beta Master,’ which is only issued to users who have actively participated in NAODA’s beta version. As a token, Beta Master gives its holders more influence over participation-driven platform operations and a bigger say in the platform’s development to reflect the company’s gratitude for their contribution to the beta stage.
“We feel that enhancing user engagement is one of the key elements in providing unique experiences on NAODA,” said Byoung-jae Lee, CEO of FLASK. “We are prioritizing the expansion of communication opportunities alongside various blockchain companies, and this includes FLASK and Connext’s recent Twitter Spaces session.”
FLASK, a KOSDAQ-listed company, is a technology innovator that was relaunched in 2022 with ambitions to lead the expansion of blockchain and Web 3.0 technologies. The development of its blockchain-based game platform and game titles is driven by top talent who have experience working at leading companies such as Kakao Games, NCSoft and Neowiz. FLASK CEO Byoung-jae Lee was formerly General Manager at EA Studios’ Spearhead and at EA Seoul Studio for EA Korea, leading several projects for FIFA Online. Additional team members helping drive the business include global talent from companies like the Boston Consulting Group (BCG) and PricewaterhouseCoopers (PwC). FLASK plans to provide expanded GameFi services through its blockchain game platform NAODA and its high-end games, which are scheduled for release in the first half of this year. Learn more at: https://flask.global/
Lucas Brown: The Broker Changing Clients’ Financial Situations
Lucas Brown is a broker with a global presence, bringing a wealth of experience and expertise to his clients. He has a proven track record of helping clients change their financial situations for the better, thanks to his deep understanding of the financial markets and his ability to identify profitable opportunities.
Lucas was born in Kazakhstan but moved to the United States at a young age with his family. He earned a Bachelor’s degree in finance from the Massachusetts Institute of Technology (MIT) in 1999 and started his career in finance as a private investment banker at Goldman Sachs Bank USA in 2002. Over time, Lucas developed expertise in risk management, which led to his promotion to the public sector as an investment banker and later a risk manager for large public companies. In 2011, he dipped his toes into the world of cryptocurrency, which eventually led him to his current role, where he has been making a significant impact on his clients ever since.
Lucas is not your typical broker who is solely focused on making profits for himself or the company. Instead, he puts his clients first, focusing on their financial goals and needs. He takes the time to understand their financial situation, investment preferences, and risk tolerance before recommending any investment opportunities. He believes in building strong relationships with his clients and helping them achieve their long-term financial objectives.
Lucas Brown’s clients speak highly of his professionalism, expertise, and dedication. One of his clients, David, said, “I’ve been working with Lucas for the past two years, and he has helped me turn my financial situation around. He took the time to understand my goals and provided me with a range of investment opportunities that were suitable for my risk tolerance. Thanks to Lucas, I’ve been able to make significant gains in the financial markets and secure my financial future.”
Another client, Lisa, said, “Lucas is not just a broker; he’s a trusted advisor who always puts my personal needs first. He’s incredibly knowledgeable about the financial markets, and he’s always on top of the latest trends and investment opportunities. I’ve learned a lot from him over the years, and I feel confident that my financial future is in good hands with him.”
Lucas Brown’s approach to brokerage has earned him a reputation as a trusted and reliable professional. He is committed to ensuring his clients achieve their financial goals and is always on hand to provide expert advice and guidance. Lucas’s ability to identify profitable investment opportunities and his deep understanding of the financial markets make him an invaluable asset to his clients and the industry.
In conclusion, Lucas Brown is a broker who is dedicated to helping his clients change their financial situations for the better. He takes the time to understand his clients’ needs, investment preferences, and risk tolerance before recommending any investment opportunities. His professionalism, expertise, and dedication have earned him a reputation as a trusted and reliable professional in the financial services industry. As one of his clients said, “I feel confident that my financial future is in good hands with him.”
Regulated United Europe Presents the Three Best Countries to Launch a Crypto Project in Europe
Lawyers from Regulated United Europe have conducted a global analysis of 28 European Union countries for the presence of legislation in the field of cryptocurrency and regulatory requirements for companies working in this sector, as well as the ease of launching a crypto project and obtaining a crypto license and are pleased to present the results of our many months of work – the three best countries to launch a crypto project in Europe in 2023.
Crypto License in Lithuania
There is a possibility of legal provision of services for the exchange and storage of cryptocurrency in Lithuania.
To date, there are a number of transparent, stipulated by the Law requirements for Virtual Currency Exchange Operators and Virtual Currency Depository Wallet Operators by the regulator (FCIS), which is an undeniable advantage, because in the vast majority of other EU countries, the legal requirements for crypto companies are still vague and can be interpreted in different ways.
Ability to quickly launch the project (from one month), no need to have a physical office in Lithuania, ability to build a dialogue with the regulator and receive answers to questions about the legislation in the field of virtual assets, fully remote purchase or license, as well as a high position of Lithuania in the authoritative World Bank Report Doing Business is a small part of the advantages of Lithuania over other countries.
In addition, since February 1, 2023 in Lithuania, there is a public list of legal entities that operate as a virtual currency exchange operator, which positively affects the reputation of licensed cryptocurrency companies. At the moment, there are more than 350 crypto licenses in Lithuania.
Having conducted research on more than 20 parameters, as of 2023, Regulated United Europe lawyers concluded that Lithuania is the most friendly country to launch a crypto project.
Crypto License in the Czech Republic
Among other European Union countries, the Czech Republic highlights the state’s liberal approach to cryptocurrencies and minimal bureaucracy.
From the main advantages of the Czech Republic as a country for the start of the project in the field of virtual assets, the lawyers of our company identified the following:
- no requirement to the size of the authorized capital of VASP company no requirement to the local office or director
- no requirement to the website/crypto project platform
- low cost of project implementation
- project implementation period is from one month
- opportunity to purchase a ready solution
- the possibility of completely remote project implementation
According to lawyers from Regulated United Europe, the Czech Republic is a very promising country for the implementation of the crypto project and our company will be happy to provide you with detailed advice on obtaining a crypto license in the Czech Republic and to implement your project in the shortest possible time.
Crypto License in Bulgaria
Bulgaria has the lowest taxes in the European Union – income tax for individuals in Bulgaria is 10%, and income tax rate is also 10%, which is significantly lower than in the rest of the EU. Bulgaria’s main advantage over other EU countries is the possibility of obtaining a crypto license in Bulgaria for foreign legal entities. There is an open and publicly accessible Register of Persons Who Exchange Between Virtual and Recognized Currencies, Not Backed by Gold, and Wallet Providers.
After a 9-month analysis of the legislation of 28 European Union countries, the lawyers of RUE came to the following conclusions:
- Although all legal entities from the European Union are regulated by Ficase AnX-Money Laundering Direcęve (5AMLD), the legislation of each country differs significantly
- In addition to regulations and requirements for companies providing virtual asset services available in open official sources, the most important role in the implementation of the project and obtaining a license is the attitude of the regulator to the licensed companies – if officials are ready to go to the meeting, the licensing process takes no difficulties and can take up to one month. If the situation is diametrically opposed (as it is now in Estonia), even if all requirements and requirements are highly likely to be denied.
- The cost of implementing the project may increase significantly during the licensing process – in some countries of the European Union there are many pitfalls and different interpretations of the law. In addition, the government can quickly amend the existing legislation that will significantly increase the cost of maintaining a crypto company.
If someone would like to bring their project to the European Union market, with more than 440 million people, contact the lawyers from Regulated United Europe and receive detailed legal analysis of their project and recommendations for its implementation in one of the European Union countries.
BRG Launches Digital Economy and Platform Markets Practice
As the digital transformation sweeps through the traditional economy, global expert services and consulting firm Berkeley Research Group (BRG) announced today that it has launched a Digital Economy and Platform Markets practice composed of the world’s foremost digital economy and platform markets experts.
Led by Dr. David Evans, one of the top testifying experts on matters involving the digital economy and platform markets, the practice will work with the world’s leading law firms, advise digital businesses and work with international and US government agencies like the Federal Trade Commission and Department of Justice. The practice’s services will span platform economics and big data and will help clients across sectors including online media and advertising, e-commerce, delivery and logistics, online payments and financial services, software platforms and apps, online gaming, transportation and travel, blockchain and cryptocurrency, emerging technology and infrastructure.
Dr. Rosa (Romy) Abrantes-Metz and Dr. Richard Schmalensee, top experts in platform economics, and digital businesses, will join the group alongside Evans. BRG Executive Chairman Dr. David Teece, a professor at UC Berkeley’s Haas School of Business, will support on select client matters.
“In the past decade, the digital economy has been growing more than twice as fast as physical-world GDP—creating complex disputes in areas ranging from antitrust and mergers to consumer protection, employment, securities, bankruptcy and the application and development of new regulatory regimes,” said Evans. “To resolve these disputes, global businesses will need a diverse group of future-looking digital economy experts and leading-edge data analytics capabilities. That’s what we’ve built at BRG. I couldn’t be more proud to lead the most experienced practice in the market dedicated to these issues.”
BRG’s global team has consulted and testified in the United States, European Union, China, South Korea and other jurisdictions. The practice will staff cases with top economic scholars, subject-matter specialists and data scientists with experience handling massive databases. In addition to those named above, BRG experts John Blair, Thomas Brown, Richard Finkelman, Dr. Steven Gawthorpe, Eric Matrejek, Dr. Albert Metz, Bradley Mirkin, Walter J. Mix III, Ron Schnell and Amy Worley will support the practice’s clients in matters involving data privacy, artificial intelligence (AI), machine learning, sanctions, risk modeling, cybersecurity and disruptive technology, among others.
Taken together, these experts have served on matters involving most of the world’s large digital platforms and across almost all major products and services provided by digital businesses. They have also written award-winning and oft-cited books and articles on platform economics and regularly appear in global media outlets like CNN, The Wall Street Journal, The New York Times, The Economist, Financial Times, Sky News, Bloomberg and more.
BRG is particularly well equipped to support clients in matters involving platform markets. Courts and regulators around the world increasingly recognize the importance of platform economics in understanding—and deciding—the matters before them when multisided businesses are involved. BRG is uniquely qualified for this work given that members of its team have led the development of the platform economics field over the last 20 years, particularly in its application to law and regulation.
The firm’s investments in data analytics will be critical as well. Analyzing issues in digital economy cases often requires managing massive datasets and providing highly elastic computing power for data analytics and econometric modeling. BRG’s extensive analytical capabilities will enable the team to analyze billions of transactions and bring economic analysis and big data to inform decisions around disputes. BRG’s data science work also includes building AI and machine learning models to support specific case activities.
Commenting on the significance of the practice’s launch, Teece said, “This is a pivotal moment for our firm. We’ve brought the world’s most distinguished experts together to launch our new practice, which is exceptionally positioned to handle the most sophisticated and high-profile work related to the digital economy. What’s more, we expect to add to this team with hires in key European markets in the months to come. The value, experience and reach of this practice will be unmatched. I’m eager to work alongside them.”
About Berkeley Research Group
Berkeley Research Group, LLC is a global consulting firm that helps leading organizations advance in three key areas: disputes and investigations, corporate finance, and performance improvement and advisory. Headquartered in California with offices around the world, we are an integrated group of experts, industry leaders, academics, data scientists and professionals working across borders and disciplines. We harness our collective expertise to deliver the inspired insights and practical strategies our clients need to stay ahead of what’s next. Visit thinkbrg.com to learn more.
Phemex Reveals Pioneering Insight on Upgrading from Centralized to Hybrid Semi-Centralized Crypto Exchange Platform Model
Stella Chan CMO of Phemex, a leading crypto platform, shares her vision involving plans to transition from a centralized to a hybrid semi-centralized crypto exchange platform model. With over US$5 billion in daily average trading volume and a user base of more than 5 million people worldwide, Phemex has quickly risen to the top ranks of crypto derivatives exchanges in the past 4 years.
Stella believes a new hybrid exchange model that combining the best aspects of centralized and decentralized exchanges will enhance the transparency, accountability, security, and community involvement of the exchange. By formalizing a decentralized autonomous organization (DAO) to facilitate decentralized governance and stronger community engagement, Phemex will to remain a major player in the constantly evolving world of cryptocurrency.
“Given the ever-changing market environment in 2022 and recent, we believe that the combination of decentralization and centralization is the future of crypto exchange development,” said Stella Chan, CMO of Phemex.
“Semi-centralized is a new development concept put forward by Phemex in response to the market, which combines decentralized decision-making with centralized execution and efficiency. We provided one of the most comprehensive and transparent Proof of Reserve reports ever in November last year, enabling users to verify their personal assets in Phemex at any time. In the future, users can obtain more rights and interests to participate in corporate governance and share company revenue. We are strong advocates for the sharing of ideas, ownership, and rewards,” Stella added.
Phemex’s focus on safe transactions is driven by the realization that centralized platforms alone are not sufficient to address the growing lack of trust in the industry. Phemex’s vision is to democratize access to fair finance, transcending differences in backgrounds, borders, and beliefs with a mission to offer superior investment opportunities that enable everyone to realize their full potential.
Through the new hybrid exchange model, Phemex aims to empower users and partners to take an active role in decision-making and profit-sharing. By embracing transparency and community involvement, Phemex is committed to realizing its vision of a more inclusive and equitable financial future.
Phemex, a certificated crypto exchange providing efficient and transparent trading experience with commitment of an all-rounded asset protection backed by state-of-the-art security technologies and Merkle-Tree Proofs-of-Reserves practice. Founded by a team of industry veterans, Phemex delivers personalized solutions 24/7 that facilitates the building of users’ crypto empire through its low latency and scalable environment, as well as a fair matchmaking system ensuring the prices and timing are prioritized.
PsyFi acquires yield generation protocol Katana for undisclosed sum
PsyFi, a decentralized provider of best-in-class financial tools and products on the Solana blockchain, announced today it has acquired the yield generation protocol Katana for an undisclosed sum.
The strategic acquisition of Katana will solidify PsyFi’s position as the premier provider of structured financial products on Solana. Katana does not have a live token, and has traded more than $750 million in options since winning the Solana Ignition hackathon in October 2021, making this one of the biggest acquisitions in Solana DeFi to date.
“The DeFi sector is undergoing a period of consolidation. The acquisition of Katana will help ensure that PsyFi emerges stronger and better able to serve our users and our community than ever before,” said co-founder Tommy Johnson, who teamed up with brother Taylor Johnson to create PsyFi forerunner PsyOptions in 2021.
Under the agreement, PsyFi will acquire all of the Katana protocol’s IP, expanding its roster of top-class yield offerings for users.
“We are thrilled to announce Katana’s acquisition by PsyFi, an innovative and respected company that has stayed true to Web3’s core values since the start. We believe its team is in a fantastic position to realize Katana’s mission to offer the preeminent yield generation products in DeFi,” said Katana founder Ayush Menon.
“Like Katana, PsyFi believes devoutly that sophisticated financial tools and investment strategies should be open and accessible to all – not a walled garden reserved for the few. Blockchain makes that possible.”
PsyFi has created a suite of best-in-class financial tools and products that let users tailor investment strategies to their risk/reward appetites. It also offers a wide range of automated trading strategies, eliminating the hassle of managing positions while optimizing yields for investors. PsyFi is open source, accessible and community-owned, with PSY token holders governing the smart contracts and the fees they generate. The team is dedicated to building a decentralized finance organization that will stand the test of time, supporting users throughout their investment journeys.
The Katana protocol exists as a set of smart contracts on the Solana blockchain and offers the premier suite of packaged yield products, enabling users to passively access a comprehensive selection of risk-adjusted strategies in the ecosystem.
Alchemy Pay Partners with DWF Labs to Secure $10 Million Funding at a Valuation of $400 Million
In order to facilitate its expansion into the Korean market, Alchemy Pay has announced a strategic partnership with DWF Labs, the prominent multi-stage web3 investment firm. As part of this partnership, Alchemy Pay has secured $10 million in funding from DWF Labs, which will be utilized to expand its payment business in Korea, capitalize on the region’s high level of cryptocurrency acceptance, and assist Korean enterprises in achieving greater internationalization. Alchemy Pay’s estimated valuation during the funding phase was reported to be $400 million.
Alchemy Pay has expended considerable effort over the years to expand its global presence and establish partnerships with both mainstream and local payment channels to improve its services. Its partnership roster includes Visa, Mastercard, Discover, Diners Club, as well as mobile payment platforms like Google Pay and Apple Pay, regional mobile wallets, and domestic transfer options. Boasting over 300 local alternative payment channels, the company’s reach extends beyond traditional credit cards and into local mobile wallet options. With a strong focus on providing access to emerging markets, Alchemy Pay has established an extensive coverage area encompassing Europe, Northern and Latin America, and Southeast Asia.
In addition to its payment services, Alchemy Pay has also introduced its innovative NFT Checkout service. This offering enables customers to acquire NFTs using fiat payment options, making the process as straightforward as any other standard online payment. With this function, users can easily purchase NFTs using their domestic local currencies.
“The company is currently well-funded, and we accepted the investment for strategic purposes, specifically to aid Alchemy Pay in entering the Korean market and expanding its payment services in the region,” stated Robert McCracken, the ecosystem lead of Alchemy Pay, and he also mentioned that Korea presents a promising market for Alchemy Pay. “Korea offers a robust market base where Alchemy Pay has yet to establish a strong presence, and we aim to establish a solid foothold in the region. By utilizing our payment solutions, more Korean companies can close the division between cryptocurrencies and conventional fiat currencies and to keep pace with global economies.”
Andrei Grachev, the Managing Partner at DWF Labs, said, “We are excited to partner with Alchemy Pay as they continue their global expansion journey, particularly in the Korean market. Their innovative payment solutions and commitment to bridging the gap between cryptocurrencies and traditional finance align with our vision for a seamlessly integrated digital economy. We believe this strategic partnership will accelerate Alchemy Pay’s growth in Korea, providing more opportunities for businesses and consumers to embrace the benefits of digital assets and web3 technologies.”
About Alchemy Pay
Founded in Singapore in 2018, Alchemy Pay is a payment gateway that seamlessly connects crypto and global fiat currencies for businesses, developers, and users. The Alchemy Pay Ramp Solution is integrated, via plugin or API, with platforms and dApps, providing an easy onramp from fiat currency to crypto. Alchemy Pay’s supports payments from 173 countries – Visa, Mastercard, Discover, Diners Club, Google Pay, Apple Pay, popular regional mobile wallets, and domestic transfers with a focus on emerging markets. Its offramping capability remits to users in 50+ local fiat currencies. ACH is the Alchemy Pay network token on Ethereum and BNB Chain.
Quarterly Cash Dividend Announced By Vortex Brands from Bitcoin Mining Operations
Vortex Brands Co., a leading provider of cryptocurrency mining services, is pleased to announce a quarterly cash dividend for its shareholders from its Bitcoin mining operations.
The dividend payment represents $0.000006 per share and will be distributed to shareholders of record as of May 1, 2023 snd paid on June 15, 2023.
“Providing value to our shareholders is a top priority for us, and we are delighted to continue this tradition of distributing cash dividends from our Bitcoin mining operations,” said Todd Higley CEO Vortex Brands. “As the cryptocurrency market continues to grow, we remain committed to expanding our mining capabilities and generating sustainable returns for our investors.”
Vortex Brands is a leading provider of cryptocurrency mining services, offering a range of solutions for individuals and institutions seeking exposure to the rapidly growing digital asset bitcoin. With a focus on sustainability, innovation, and operational excellence, Vortex Brands is committed to delivering long-term value to its stakeholders.
As always, the Company seeks to provide as much transparency about it bitcoin mining operation as possible, here is the link to our wallet which can be viewed by shareholders:
About Vortex Brands Co.
The Company operates as Technology Holdings Company that focuses on cryptocurrency sector, particularly Bitcoin Mining. Additional information is available by visiting company’s website at www.vortexbrands.us or on twitter at https://twitter.com/Vortexbrands.
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