SkyBridge Capital, a leading global alternative investment firm, today announced the launch of the SkyBridge Bitcoin Fund LP, which provides mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin. Additionally, on behalf of its flagship funds, SkyBridge initiated a position, valued at approximately $310 million at the time of this release, in funds investing in Bitcoin during November and December 2020.
To launch SkyBridge Bitcoin Fund LP, SkyBridge and its affiliates have invested $25.3 million. SkyBridge is among the most well-established financial institutions to launch a Bitcoin product, offering a secure and easy way to buy and sell Bitcoin. Fidelity will serve as custodian, and Ernst & Young will audit the fund.
“We believe Bitcoin is in its early innings as an exciting new asset class,” said SkyBridge founder and managing partner Anthony Scaramucci. “With the institutional quality custody solutions available today, we believe the time is right to allocate capital and provide our clients access to the digital assets space.”
Despite growing retail demand for digital currency, Wall Street firms have largely avoided the market due to concerns around security. With the launch of the SkyBridge Bitcoin Fund LP, investors will have access to institutional-quality custody and operation, without forcing investors to directly hold Bitcoin.
“Bitcoin is leading a digital monetary revolution around the world,” said Brett Messing, SkyBridge President and Chief Operating Officer. “We believe the onus has shifted from ‘why are you investing in Bitcoin?’ to ‘how are you not investing in Bitcoin?'”
In 2020, Bitcoin more than doubled in price and surpassed its 2017 market capitalization for an all-time high of over $500 billion. Today, one Bitcoin is valued at approximately $32,000.
“Our investment team has grown enthusiastic about Bitcoin’s properties as a portfolio diversifier and return generator,” said Troy Gayeski, SkyBridge Co-Chief Investment Officer and Senior Portfolio Manager. “Investors trust us to see around corners, and we believe it’s prudent now to allocate a small portion of your portfolio to digital assets.”
SkyBridge Bitcoin Fund LP builds on the firm’s longtime commitment to making alternative investment accessible to wider audiences. Among its products, SkyBridge’s flagship Series G fund offers modest minimum investment requirements for access to leading hedge fund managers.
“With global money printing at an all-time high, Bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation,” said Ray Nolte, SkyBridge Co-Chief Investment Officer and Senior Partner.
The SkyBridge Bitcoin Fund LP will charge a 75-basis point management fee and no incentive fee. Accredited investors can subscribe directly to the fund, which requires a minimum investment of $50,000, at skybridgebitcoin.com. SkyBridge co-CIO Troy Gayeski authored a whitepaper on the firm’s decision to enter the Bitcoin market, which can also be found at skybridgebitcoin.com.
SkyBridge is global alternative investment manager that provides a range of investment solutions to individuals and institutions. Addressing every type of market participant, SkyBridge’s investment offerings include commingled funds of hedge funds products, customized separate account portfolios, hedge fund advisory services, and an Opportunity Zone focused non-traded REIT. The firm is headquartered in New York. For more information, visit: www.skybridge.com.
Organizations Begin to Adopt Innovative Blockchain Solutions
A major portion of the economy has transitioned to remote operations, yet most workers are still unclear on how long it will take until the system returns to pre-pandemic norms. As a result, several sectors in the technology industry have grown in demand. For example, cloud computing, digital payments and in particular the cryptocurrency and blockchain segments are back at the center of attention this year. As a result of the recent crypto boom, investors have once again started to view the new digital currencies as potential long-term investments necessary in a properly diversified portfolio. Therefore, it is not surprising that ETFs with a focus on crypto and blockchain are doing as well as they are. “Just over three years ago we launched the first actively-managed ETF focused on the dynamic market segment of blockchain-related stocks,” said Amplify CEO Christian Magoon. “BLOK has provided investors with additional portfolio diversification through its unique portfolio makeup that includes the Bitcoin Investment Trust. Blockchain technology is primarily known for one application today: cryptocurrency.” DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTC: DMGGF), Argo Blockchain Plc (LSE: ARB) (OTC: ARBKF), Marathon Patent Group, Inc. (NASDAQ: MARA), Riot Blockchain, Inc. (NASDAQ: RIOT), 500.com Limited (NYSE: WBAI)
In recent years, many companies and organizations have become more friendly towards blockchain and cryptocurrencies. As a result, there has been an influx of companies buying bitcoin and accepting it as payment. For example, earlier this month Meitu, a Chinese company that makes a photo editing app, has accepted USD 22.1 Million worth of ether and USD 17.9 Million worth of bitcoin. “The Board believes cryptocurrencies have ample room for appreciation in value and by allocating part of its treasury in cryptocurrencies can also serve as a diversification to holding cash (which is subject to depreciation pressure due to aggressive increases in money supply by central banks globally) in treasury management,” Meitu said, according to a report by CNBC. This follows companies like Tesla and Square, which have also put emphasis on cryptocurrency.
DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) just announced breaking news that it has, “entered into a definitive license agreement (the “Agreement”) to provide technology solutions for Marathon and the new Digital Currency Miners of North America (“DCMNA”) pool. Marathon is one of the largest enterprise Bitcoin self-mining companies in North America and will be launching the first North America-based Bitcoin mining pool that is fully compliant with U.S. regulations, including anti-money laundering (AML) and the Office of Foreign Asset Control’s (OFAC’s) standards. Unique features of DMG’s Blockseer pool technology include the ability to filter transactions to ensure AML and OFAC compliance in anticipation of impending US regulations. On a day-to-day basis, DCMNA will manage the pool with DMG providing strategic guidance and/or technical support as needed.
OKEx lists FLOW, the crypto behind NBA Top Shot NFTs
OKEx, a world-leading cryptocurrency spot and derivatives exchange, is thrilled to announce the listing of FLOW, the native asset of the Flow blockchain. Flow is a decentralized blockchain platform created for gaming and non-fungible token use cases. It’s already home to an NFT making mainstream headlines — NBA Top Shot. OKEx is one of the first exchanges in the world to offer FLOW trading, which launches today with three trading pairs.
Developed by Dapper Labs — the team behind another wildly successful digital collectibles DApp, CryptoKitties — the Flow blockchain provides the foundation for a new generation of digital assets, games, and dApps, including NBA Top Shot.
Officially licensed by the National Basketball Association, NBA Top shot is currently pushing NFTs to mainstream adoption, already reaching more than $45 million in sales over the past 24 hours alone. Just last week, one blockchain-based collectible “Moment” — 13-second video of star player Zion Williamson — sold for a massive $100,000.
Spot trading of FLOW against USDT will go live at 5:00 pm UTC today, Feb. 23, with trading against ETH and BTC opening one hour later. Deposits of FLOW were available from 3:00 am UTC today, and withdrawals will open at 10:00 am UTC on Feb 24, 2021.
Flow is a blockchain protocol designed to scale in order to support DApps with mainstream demand. Smart contracts on Flow are written in the widely-used Cadence programming language and power applications that can reportedly serve billions of people.
Developed and tested in collaboration with several top-name global partners, including the NBA, Samsung and Warner Music Group, Flow is now open for anyone to develop decentralization applications. Flow lets developers build new crypto-powered businesses, creating new unique digital assets that can be traded on open markets.
Commenting on today’s listing of FLOW, OKEx CEO Jay Hao stated:
“It’s extremely exciting to see so much innovation in the NFT field and real progress being made to allow decentralized applications to scale to accommodate mainstream use. We are also proud to add that as one of the first exchanges to offer FLOW trading, we continue to strive to ensure a rewarding and enjoyable experience for our users.
Flow is already proving to be a fast and secure platform for developers to create a whole host of games, digital assets, and consumer applications on, and will undoubtedly play a large role in taking NFTs – and crypto – to the mainstream, as we’re already seeing with NBA Top Shot.”
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SOS Limited Announces Exercise of Warrants for $26.6 Million Gross Proceeds
SOS Limited (NYSE: SOS) (the “Company” or “SOS”) today announced the agreement by several accredited investors to exercise certain warrants to purchase up to an aggregate of 16,125,000 of its American Depositary Shares (“ADSs”) issued by the company on December 22, 2020, at an exercise price of $1.55, and January 7, 2021, at an exercise price of $1.85 per ADS, respectively.
The ADSs issuable upon exercise of the warrants are registered pursuant to a registration statement on Form F-3 (File No. 333-250145) which became effective by the Securities and Exchange Commission (SEC) on November 30, 2020. The gross proceeds to the company from the exercise of the warrants are expected to be approximately $26.6 million, prior to deducting placement agent fees and estimated offering expenses.
Maxim Group LLC is acting as the exclusive placement agent for the offering.
In consideration for the immediate exercise of the warrants for cash, the exercising holders will receive new unregistered warrants to purchase ADSs in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”). The warrants will be exercisable into an aggregate of up to 25,800,000 ADSs, at an exercise price of $2.00 per ADS, which have a term of exercise approximately equal to five years.
SOS intends to use the proceeds from the offering to develop its planned blockchain-based cryptocurrency mining and security and insurance technology business and acquisition in the cryptocurrency industry as well as for working capital and general corporate use.
The new warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the 1933 Act and, along with the ADSs issuable upon their exercise, have not been registered under the 1933 Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. The company has agreed to file a registration statement with the SEC covering the resale of the ADSs issuable upon exercise of the new warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About SOS Limited
SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. (“SOS”) is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS transforms digital technology into data-driven operations through the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence.
We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories: basic cloud, cooperative cloud, and information. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.
BuyBSV.com expands to seven new countries
As the Bitcoin SV blockchain expands so does the need for easy accessibility and as a result you can now buy Bitcoin SV (BSV) on BuyBSV.com with VISA or MasterCard in: Argentina, Colombia, Chile, Greenland, Kenya, Peru & Taiwan.
This global expansion is additional to the United States, Canada, Brazil, Australia, New Zealand, India, Philippines, Indonesia, Malaysia and European countries, namely, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, Romania and United Kingdom.
Furthermore, websites, portals, blogs and vlogs can now embed our specially designed widget to their content allowing visitors easily purchase BSV and tip, pay for content, products or experiences with BSV. Just fill out the form at the bottom of the buyBSV.com website.
Future Fintech Group Inc. Announces $8 Million Registered Direct Offering
Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech”, “FTFT” or “the Company”), a leading blockchain based e-commerce company and a service provider for financial technology, today announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of 4,210,530 shares of its common stock and common stock warrants to purchase up to 4,210,530 shares of common stock at a combined purchase price of $8,000,007 in a registered direct offering. The common stock warrants have an exercise price of $2.15 per share, and will be immediately exercisable and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about December 29, 2020, subject to the satisfaction of customary closing conditions.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-224686) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on December 11, 2020. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Future FinTech Group Inc.
Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based technology and services as well as financial technology services. For more information, please visit http://www.ftftex.com/.
AST’s Mutual Fund Proxy Campaign Platform ProxyIQ® Recognized as a 2020 Benzinga Fintech Awards Finalist
AST today announces that its mutual fund proxy campaign management platform ProxyIQ has been recognized as a Benzinga finalist in the Best New Product category. Benzinga Fintech finalists comprise carefully vetted and renowned companies across 27 categories and executives who are striving to revolutionize the fintech industry. From deeply established companies to the newest startups, this group is impacting sectors like payments, banking, investing, technology and financial literacy. This list of carefully selected companies will be honored each year as Benzinga continues to highlight the fintech industry’s most innovative minds.
“We’re honored to have received this recognition for ProxyIQ from Benzinga, a reputable go-to destination for fintech trends and analysis,” said Martin Flanigan, President and CEO of AST. “The advantages of ProxyIQ and their recognition by Benzinga further confirm our leadership in providing ownership data management and analytics. We are proud to be recognized for our commitment to helping clients harness the power of their data.”
ProxyIQ is being recognized in the Best New Product category. ProxyIQ is a blockchain based proxy solicitation, tabulation and reporting engine supporting Mutual Fund, Equity, Insurance and other shareholder meetings or member voting events. Through blockchain technology, ProxyIQ provides near real time vote recognition and tabulation, allowing for transparency throughout the campaign. The immutable audit trail inherent in the blockchain provides confidence in the results for all parties. To date, AST has managed over 130 meetings on ProxyIQ, including over 26.5B shares voted through direct and third party channels.
“AST is harnessing the power of blockchain technology to provide companies and mutual funds with superior access to, and management of, ownership data. The blockchain technology positions AST to create deeper connectivity within the industry to streamline the process of reaching shareholders and tabulating voting,” says Paul Torre, President of Governance, Proxy and Ownership Services at AST.
Curzio Research Completes Listing On MERJ Exchange
Curzio Research, an emerging leader in the financial newsletter industry, has announced the successful listing of its digital security on MERJ Exchange under the ticker CEO. Curzio Research, a U.S. Delaware corporation (the “Company”), aims to disrupt the multi-billion-dollar financial newsletter industry. The Company’s current model helped generate more than $6 million in revenue in the first 24 months of operation. “MERJ Exchange offers the best of both worlds for investors of the CEO token… they get the benefits of a natively digital security and the protection of a regulated exchange,” stated Curzio Research CEO, Frank Curzio. “We chose MERJ Exchange because of their focus on regulatory compliance, global access and our ultimate ability to commence a public listing.”
In 2019, the Company partnered with Securitize, a token issuance and lifecycle management platform, to complete its digital security issuance and private placement offering to U.S. accredited investors and non-U.S. investors with exemptions under Regulation D and Regulation S of the Securities Exchange Act. The Company raised approximately $4 million almost entirely from its own client base. Upon the passing of the 12-month lock-up for CEO Token holders, the required process under rule 144 of the Securities Exchange Act, including the receipt of a legal opinion letter was completed, allowing global trading to public investors on MERJ Exchange.
MERJ commenced operations in 2011, as the national exchange operator for the Seychelles, and now counts over 40 issuers with a market cap of $1.6 billion. Through the adoption of innovative technologies, the exchange has become a leading venue for digital securities listings. Curzio Research is the fourth issuer to list a digital security on MERJ. Earlier this year MERJ successfully completed its own digital security IPO and according to World Federation of Exchanges data, became the fastest growing securities market in the world. Recently the exchange took a big step towards its goal of 24/7 trading by increasing its market trading hours from 6 to 20 hours to cover North America and more of the Asian trading time zones.
Ed Tuohy, CEO of MERJ Exchange, commented: “We are delighted to work with Curzio Research to bring its CEO Token to market. Curzio Research is an example of a high-quality company leveraging digital technology to provide an access point for investors from all over the world. The collaboration between Curzio, Securitize, Exponential and MERJ is helping to deliver a new interconnected version of the capital markets built on digital rails.”
Curzio Research was advised by Exponential Capital & Markets (ExC&M), a Sponsor Advisor to MERJ Exchange. Kyle Fry, CEO of ExC&M commented “The CEO token listing showcases best practices for preparing for a listing and is an important milestone for the entire global digital security space. Frank and his team at Curzio Research did everything to ensure regulatory and compliance guidelines were met from the start. We look forward to continuing to work with Curzio Research and the MERJ team to keep current and potential investors informed.”
Security Token Advisors acted as liquidity and investor relations advisor to Curzio Research and have supported the company since June 2020.
Celebrating $200 Million of Institutional Trading, NDAX Expands OTC Desk for Global Investors
National Digital Asset Exchange Inc. (“NDAX”) is celebrating a milestone of $200 million in institutional trading with the expansion and re-branding of its over-the-counter (OTC) trading desk as NDAX Wealth. NDAX Wealth is a cryptocurrency OTC trading desk, tested and optimized to meet the needs of institutions (globally) and investors (in Canada) looking to trade $50,000 or more. NDAX Wealth offers seamless execution of high-volume block trades and gives access to a deep liquidity pool, industry-leading security, no price slippage, zero transaction confirmation, and same-day settlements against a range of cryptocurrencies and fiat currencies (CAD, USD, EUR, AUD).
NDAX Wealth features are optimized to meet the needs of:
- Cryptocurrency mining firms
- Hedge funds
- Family offices
- Brokerage firms
- Investment banks
- High-volume day traders
“With a superior level of concierge service provided around the clock, NDAX Wealth trading desk is designed to connect investors with deep liquidity pools, creating hands-off seamless execution while helping to ensure the most competitive and same-day transactions,” Bilal Hammoud, CEO, President, & Founder of NDAX said. “NDAX believes that cryptocurrency and digital currency will play a major role in reshaping the future of our interconnected global economy. Institutional and professional traders (as per the Global Crypto Adoption Index ) have been the main adopters for 2020. NDAX works directly with these investors to arrange purchases and sales that are as unique as the needs of each client — executing transactions with minimal fees, deep liquidity, and the privacy and autonomy our clients expect.”
NDAX Wealth provides a seamless and secure high-volume trading experience with the benefit of a dedicated account executive to guide clients through initial consultations and each subsequent transaction.
Other features include:
- No deposit fees
- No withdrawal fees
- Competitive execution fees
- Zero confirmations for crypto deposits
- Rest, Websocket, and FIX API connectivity
- Around-the-clock human support
- Dedicated account executives
- Hybrid crypto transactions
- Wide range of assets with a large liquidity pool
- Institutional-grade security with segregated crypto accounts
- Same-day settlements/segregated bank accounts
- Industry-leading regulatory compliance
Hybrid crypto transactions
NDAX is providing the first hybrid crypto transaction experience in Canada. Giving users the choice to withdraw cryptocurrency instantaneously by whitelisting withdrawal addresses.
“At NDAX, we believe that custody of assets should be held safely with their owners, and for that, we are committed to educating our customers on how to safely hold their crypto. The hybrid crypto transaction model will enable safe withdrawal of funds to the wallet of the user’s choice automatically, without any intervention from the exchange, making it a safe non-custodial experience. For the members that still do not feel comfortable storing their crypto, NDAX continues to offer the best-in-class custody infrastructure,” Hammoud said.
Wide range of assets with a large liquidity pool
NDAX has a large selection of high market cap digital assets. However, if a coin isn’t listed on the exchange, NDAX Wealth clients can still inquire about trading it and NDAX will work with them to make a match.
Institutional-grade security with segregated crypto accounts
Clients’ cryptocurrency is stored in a multi-signature cold-storage powered by Ledger Vault, an institutional-grade cryptocurrency security solution.
NDAX Wealth, provides wealth management groups, hedge funds, and high-net-worth clients segregated Crypto-asset accounts with multi-governance infrastructure that provides users with full control over their portfolio of funds.
Same-day settlements/segregated bank accounts
Clients’ funds are safely stored with a Canadian Crown-owned bank in a segregated account. Our unique Canadian banking also allows for a variety of funding methods that ensure same-day settlement of your CAD or USD deposits and withdrawals.
Industry-leading regulatory compliance
NDAX is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) – Canada’s financial intelligence unit. We have established and implemented a robust compliance regime that adheres to the Proceeds of Crime, Money Laundering and Terrorist Financing Act (PCMLTFA) and associated Regulations.
Following HBTC, Huobi Global to launch the H-token series on Ethereum
Huobi Global announces today the H-token series – a suite of assets that are issued on Ethereum and backed by cryptocurrencies from other blockchains to bring more digital assets to the Ethereum DeFi ecosystem.
Simple Facts of H-Token Series
In February 2020, Huobi Global launched HBTC, an Ethereum-based token that can be 1:1 exchanged for BTC. A design like HBTC, which aims to be the bridge between the centralized and decentralized finance, ensures that users do not lose the value of BTC while enjoying the flexibility of Ethereum.
Today, approximately 5,000 HBTC has been minted, and these tokens enable users to seamlessly access decentralized protocols such as Uniswap, Curve, Balancer, Nest, and ForTube. In the near future, HBTC will also be used as DAI collateral on MakerDAO. HBTC’s growing use cases prove that its value has been recognized by the market.
At today’s launch, Huobi Global will provide three H-tokens, including DOT, LTC, and BCH. The combined market cap of these assets has approximated $1.1 billion and they are welcomed by crypto enthusiasts around the world.
The issuance of the H-series assets will allow more users in the crypto world to benefit from DeFi, accelerate the development of the Ethereum DeFi ecosystem, and promote the growth of Ethereum-based assets. As a bridge between centralization and decentralization, Huobi aims to make assets freer and allow hundreds of millions of people around the world to truly benefit from the development of DeFi.
“Huobi, as a bridge between the centralized and decentralized world, aims to liberate the wealth of the world. We hope to grow together with the Ethereum community, empower community projects, and actively embrace an open ecosystem,” said Huobi CIO and head of Huobi DeFi Labs Sharlyn Wu. “Huobi’s mission in DeFi is to provide the community with more high-quality assets, to make DeFi more inclusive, to make the global financial system better, and to realize the vision of enabling hundreds of millions of people around the world to truly benefit from the development of DeFi.” Huobi DeFi Labs is an incubator backed by Huobi to support the DeFi ecosystem.
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