SlowMist, a Chinese cybersecurity firm, has recently pointed out a transaction that should have some worried, as the user managed to double the value of 694 USDT.
On Thursday, a blockchain centric cybersecurity firm, issued a Tweet which drew attention to a questionable USDT transaction.
交易所在进行USDT充值交易确认是否成功时存在逻辑缺陷，未校验区块链上交易详情中valid字段值是否为true，导致“假充值”，用户未损失任何USDT却成功向交易所充值了USDT，而且这些 USDT 可以正常进行交易。
— SlowMist (@SlowMist_Team) June 28, 2018
According to the automated translation of the Tweet, originally given in Mandarin Chinese, the user was able to illegitimately add USDT value to the exchange’s server, giving a guise of added funds.
This vulnerability essentially allowed the user to be potentially credited for USDT that was not sent to the exchange.
It is unclear whether the exchange affected, which remained unnamed, has made any actions to amend the issue.
According to the information of the transaction in question, the exchange accepted a transaction that had invalid information, with the exchange marking the 694 USDT “false” transaction as valid.
When the Tweet was first released, it was unclear whether this problem was an unlucky edge-case or a problem that affected all of the 2.75 Billion Tether tokens in existence.
Bug Is Only Pertinent To Vulnerable Exchange
SlowMist later clarified, in English this time, that the issue was not with Tether as a whole, but rather with the unnamed exchange.
A Reddit user who goes by Dacoinminster gave his/her reasoning for the hack. To add to the legitimacy of the reasoning, the user claimed to be a founder of Omni, the protocol which Tether is built upon.
Firstly, the Reddit user noted that Omni-based assets cannot be double-spent without Bitcoin having to be double-spent as well. This comment eased the double-spend worries, as a double-spend attack on Bitcoin is nearly impossible.
The Omni founder wrote:
If I’m translating this correctly, it appears that what happened here is that an exchange wasn’t checking the valid flag on transactions. They accepted a transaction with valid=false (which they should not have), and then the second “double spend” transaction had valid=true, which they also accepted.
Dacoinminster went on to say that the issue was the result of “poor exchange integration,” pointing an accusing finger at the affected exchange.
OKEx, one of the top cryptocurrency exchanges by trading volume, quickly created a press release regarding the issue, adding to the legitimacy of the issue. OKEx wrote:
We are aware of the vulnerability with USDT deposit. And we confirm that OKEx is NOT exposed to the vulnerability. Please rest assured that your assets are safe and secure with us.
Further adding that OKEx enlisted the help of SlowMist to ensure that OKEx was not vulnerable to the “fake deposit” issue.
Bittrex also confirmed that it was not affected and the processing of all Omni-based assets, like Tether, did not experience any difficulties. The Tweet stated, “Bittrex properly handles the “valid” flag mentioned in the (Omni) integration guide.”
It has become clear that this issue is only pertinent to exchanges who failed to properly integrate Omni assets, most likely smaller exchanges with smaller technical teams. At the time of writing, the unnamed exchange was the only platform reported to be vulnerable to the bug.
Tether Remains The Topic Of Controversy
Despite holding a vital role in the industry, serving as a way investors can find stability in the often volatile crypto market, Tether has had its fair share of problems.
As Tether’s market cap quickly rose over the billion dollar valuation, users began to question the legitimacy of the reserve funds backing the popular stablecoin. Speculation raged, as Tether unexpectedly dismissed an auditor for the “excruciatingly detailed procedures” the auditor firm was enlisting.
Many thought that Tether did not hold the funds to back its growing supply of USDT. However, it was recently revealed that Tether does hold the U.S. dollars to back all USDT in existence.
Although that issue was dismissed, research has pointed out that Tether may be responsible for the manipulation of many Bitcoin price movements. The report, originating from the University of Texas, states that the issuances of Tether may have caused up to 50% of all Bitcoin price increases.
Although not directly addressed by the Tether organization, this report confirms much of the sentiment held by Tether critics.
The recent bug exposed by SlowMint has added to the Tether controversy, which has become increasingly diverse as Tether continues to grow at a rapid rate.
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Bright Horizons: Fideum Group Anchors Spot in Mastercard Lighthouse Elite Program
Fideum Group, an ambitious financial aggregator renowned for its commitment to enhancing both retail and institutional client experiences, announced its notable inclusion in the prestigious Mastercard Lighthouse FINITIV 2023 Fall Program. As one of 15 selectees from the Nordic and Baltic regions, Fideum Group is poised to redefine the fintech industry alongside other innovators, startups, and early-stage scaleups.
A Legacy of Innovation and Dedication
Born from the strategic union of GenBlock and blockbank, Fideum Group, the London-based entity, has since its inception demonstrated an unwavering commitment to pushing the boundaries of fintech solutions. The merger signified not just the unification of two powerful entities but also their shared vision of a more integrated, user-centric financial landscape.
A Milestone of Recognition
Their selection for the Mastercard Lighthouse program isn’t just another feather in their cap. It’s a testament to the years of hard work, innovation, and an undying commitment to their clients. This association with Mastercard Lighthouse places Fideum Group on a pedestal, emphasizing its leading role in the ongoing fintech revolution.
Promises of the Collaboration
- Innovative Reach: The collaboration unveils opportunities to tap into Mastercard’s vast global network, interlinking with a myriad of partners, clients, and banks.
- Unequivocal Validation: Mastercard’s nod serves as a clear testament to the forward-looking direction and the boundless potential Fideum Group brings to the financial table.
- Expanded Horizons: The prospects of delving into a multi-token network integration paint a future where diverse financial solutions reign supreme.
Stepping into a Brighter Fintech Future
“As we set the stage for Fideum’s emergence in Q4 2023 and consolidate our partnership with Mastercard, our primary mission remains: to constantly redefine the financial landscape,” articulated Anastasija Plotnikova, CEO and Co-Founder of Fideum Group.
A Glimpse into the Lighthouse Program
Mastercard’s Lighthouse FINITIV program, since its inaugural launch in 2018, has firmly established itself as a pivotal catalyst sparking fintech innovation across the Nordic and Baltic territories. The program’s goal is more than just bringing innovations to light; it’s about fostering them, nurturing them, and ensuring they set the standards for the financial world of tomorrow. Fideum’s inclusion in this coveted program underscores the industry’s resounding endorsement of their potential, their unique value proposition, and the innovative solutions they champion.
Fideum’s Forward Vision
Beyond the Lighthouse program, Fideum Group aims to continue its streak of fintech innovations. They envision a world where finance is not just a necessity but an experience, enriched by technology, optimized by data, and crafted around individual needs. With strategic partnerships, advanced technologies, and an undying passion for finance, Fideum is on track to bring about transformative changes that benefit institutions and individual clients alike.
The collaboration between Fideum Group and Mastercard is a harbinger of the exciting developments awaiting the fintech industry. Stakeholders, partners, clients, and the entire financial ecosystem can anticipate a series of innovations that not only cater to modern needs but also shape the future of financial interactions.
For a comprehensive look into Fideum Group’s ethos, innovative solutions, and their promising journey ahead with Mastercard Lighthouse, explore further at Fideum.Group
From Japan to the world! The CARAC Token project that will greatly change the entertainment business has started!!
About CARAC Token, the reserve currency of Jyanna World, a communication square developed by CARAC as a metaverse space, we will announce a new service for users worldwide.
CARAC, LLC. (CARAC) is a company that has developed Jyanna World, a platform for building a communication square in a metaverse space and distributing the real world through live streaming.
1. In Jyanna World, there are two avatars: (1) AI avatars that transmit information in the meta-space and (2) user avatars that catch the information.
- AI avatars in (1), such as celebrities, idols, cosplayers, singers, the proprietress of a hot spring resort, the chairman of a tourism bureau, and other information-transmitting, real-life people exist as official avatars and stroll around Jyanna World.
- When the user avatars in (2) want to obtain information for their purpose, they ask questions to the AI avatars in (1) via chat, and the AI avatars in (1) respond through the chat Bot.
- User avatars in (2) have access to both free and paid areas of Jyanna World. The paid area requires a “Pass,” which the NFT manages.
* CARAC Tokens are required to purchase the Passes. Users in (2) with the Pass can access paid areas to obtain information only available in that area and receive services such as gift items that can be used in Jyanna World.
2. The live feed is built on the following three components;
- A. Real underground idols and cosplayers will live-stream as Livers and communicate with fans by responding to chats from them. Fans can support the Livers by giving gift items they have purchased.
- B. Live streaming of a singer’s or artist’s concert simultaneously.
- B.-1 Communication service with fans in which artists sing songs and respond to messages sent by fans via chat.
- C. Live streaming from domestic tourist attractions, amusement facilities, and event venues. Tourists can learn the status of crowds and events taking place simultaneously through live streaming and make appropriate decisions.
Entermedia, Inc., a company that handles large-scale festivals in Japan, serves as the front of contact for concerts and events.
STARDUST PROMITION, INC. (https://www.stardust.co.jp/), which features AI avatars at Jyanna World and uses many artists and idols for over 200 box offices, concerts, and events annually, has planned live concert streaming (B. and B.-1) and past concert streaming featuring official AI avatars.
With those deliveries, fans with “Passes” purchased with the CARAC Token will be able to watch the special live streaming from backstage immediately after the concert and will be able to present items to the artists.
For example, if an artist has a birthday and a fan presents him or her with a birthday cake image item, the artist will feel happy and call the fan’s name over his or her phone in the streaming.
As described above, Jyanna World users are divided into general users and VIPs with Pass Tickets. NFT manages Pass Tickets and requires CARAC Token for purchase.
The CARAC Token is essential to enjoy 100% of the live streaming experience at Jyanna World.
As long as entertainment exists and fans of artists, idols, singers, etc., in the real world continue to exist, CARAC Token, the reserve currency of Jyanna World, will be indispensable in fulfilling fans’ desires.
Fans purchase “Pass Tickets,” which can only be purchased with CARAC Token, to attend live performances by their favorite artists and idols and support them 100%. Since fans need to purchase Pass Tickets each time they attend a show, the more Pass Tickets they purchase, the more the value of the CARAC Token increases, and the Token’s value can be secured and protected.
CARAC Token can be purchased at xt.com (https://www.xt.com/ja/trade/carac_usdt), xt.com is paying attention to this Token so much because it is necessary for many artists and fans.
To provide even more valuable space and streaming, CARAC has begun negotiations with not only many domestic production companies but also with overseas entertainment production companies for distributing overseas artists.
DCS Card Centre launches payment Token DUS, to be first deployed and issued on PlatON Network
DCS Card Centre (DCS) recently announced the official launch of its payment token, DCS Tokens (DUS), which will be first deployed and issued on PlatON Network.
This issuance marks a major breakthrough in the field of blockchain payments, demonstrating the determination of PlatON and DCS to use advanced technology to drive innovation in the payment industry. DCS has also become the first financial institution in Singapore to launch an initiative aimed at bridging the transitions between Web2 and Web3 ecosystems after the Monetary Authority of Singapore (MAS) introduced the Single-Currency Stablecoin (SCS) Regulatory Framework.
DCS is a financial institution governed by the MAS under the Banking Act and licensed to issue credit and charge cards. DCS will continue to lead the revolutionary innovation and integration in the next-generation digital payment field.
DCS Tokens (DUS) represent a unique convergence of digital assets and traditional finance. DCS Tokens are tokenized from credit card transactions processed by DCS and can only be returned to DCS for redemption as card spend limits. These tokens are designed to provide value stability (1USD:1DUS) and act as a trusted connection between Web3 and card payments globally in Web2.
PlatON Network, known for its high security and scalability, will provide a solid technical foundation for the issuance of DUS, ensuring that users can conduct transactions in a fast and secure network environment without worrying about privacy and data security issues.
The redemption of DUS for conversion into increasing a DCS cardholder’s spend limit or paying outstanding balances back to fiat is fast and seamless, as the transaction is executed instantly on D-Vault. D-Vault, a feature within the DCS Cards app, also allows bank transfers and conversion of digital assets. This innovation empowers users to seamlessly optimize and toggle between the convenience and efficiencies of Web2 and Web3.
In addition to co-issuing DUS, DCS will also explore a new ecosystem of financial services on Web3 with PlatON based on blockchain, privacy-preserving computation, artificial intelligence (AI), and other technologies, promoting innovation and development of blockchain technology in the field of payment and clearing. At the same time, DCS became the first heavyweight financial institution to sign up for TOPOS (an encrypted payment and clearing operation system based on PlatON), initiating and building the TOPOS ecosystem together with PlatON.
PlatON is an open financial infrastructure with privacy-preserving computation as its technical feature. Initiated and promoted by the LatticeX Foundation, PlatON aims to become a major blockchain platform in the era of Web3. It secures stability and performance on a par with that of the financial system and provides privacy-enhanced compliant digital asset management, multi-scenario encrypted payment and clearing solutions, and a smooth and user-friendly experience for various types of Web3-native applications and applications/users migrating from Web2 to Web3.
TOPOS is an open payment and clearing operation system based on blockchain, adhering to an OPEN LOOP multi-party architecture. With the underlying payment logic based on tokenized money, TOPOS enables users to self-mint “money” in the Web3 era and transfer value in a secure, controlled way. TOPOS will gradually build an open clearing and settlement system for Web3 in a compliant, secure, open and convenient manner.
This historic collaboration between the two parties is grounded in their shared vision and value judgment for the future of global digital payment and clearing. The TOPOS network offers DCS a complete underlying solution for issuing tokenized money compliant with the PlatON Network, assisting DCS in securely, stably and transparently managing the minting, burning and scenario-based use of tokens.
Through this partnership, the industry is presented with PlatON’s comprehensive strength and ambitious vision in Web3 open financial infrastructure and its ecosystem. It marks the initiation of TOPOS’ business strategy as the global digital currency payment and clearing network for the Web3 era. This proves that TOPOS is poised to thoroughly and deeply support various traditional financial institutions in their strategic transition to open finance under the Web3/digital currency system. Moreover, it is ready to serve more financial institutions committed to the construction of the new TOPOS clearing network.
Blueprint launches next-generation digital asset management platform, kick-started by the industry’s first zero-fee staking solution
Today, Blueprint unveils its strategy to transform the fragmented digital asset portfolio management landscape. Identifying a notable market gap, Blueprint sees a demand for an all-in-one intuitive platform that combines consolidated data, insights, and tooling to provide investors, builders, and service providers with the resources they need to view, manage, and optimize their portfolios.
Blueprint, a Hivemind ecosystem company, begins its vision with its first live offering: an industry-first free staking service. By adopting a user-friendly approach, Blueprint simplifies the complex staking process, offering versatile support for staked assets and allowing users to stake on proprietary nodes for zero cost. Users will also benefit from step-by-step guides on asset staking and a streamlined process to monitor earnings. Blueprint’s staking offering is live and currently supporting 10 blockchain networks.
Jake Greenstein, CEO of Blueprint, shared, “Staking helps enhance yields and is the foundation for productive portfolios, yet its complexity can be daunting, and costs can be high. Recognizing this, our immediate focus and first live service is devoted to simplifying staking. We’re proud to introduce an industry-first: a zero-fee staking service to offer a seamless experience for our users while eliminating staking costs.”
Staking is just the initial phase of Blueprint’s broader vision. Blueprint is actively developing a comprehensive platform addressing all facets of digital asset management. The platform will incorporate all common blockchain L1s, handling both fungible and non-fungible assets, and will gather information from custody platforms, exchanges, on-chain applications, individual wallets, and even allow users to rewind time to view historical snapshots. By providing a unified space where users can review their positions, delve into portfolio cross-sections, and probe underlying holdings in detail, Blueprint will reduce the complexities and complications associated with managing a diverse crypto stack.
Beyond offering insight into portfolio holdings, Blueprint’s platform will feature risk analysis and real-time alerting and monitoring functionality. Customized reporting and transaction reconciliation will also be available to help streamline operational processes and provide maximum transparency to users. In the future, Blueprint also plans to integrate features like automatic threat detection and AI-generated insights and recommendations.
Greenstein added, “The launch of Blueprint marks a transformative phase in digital asset management, with our industry-first staking solution just being the beginning. We’ll be presenting users with an unmatched, integrated platform tailored to simplify and elevate their digital asset endeavors. As the crypto landscape evolves, Blueprint will continuously innovate, ensuring our users always stay ahead of the curve.”
Blueprint’s mission is to provide an integrated, institutional-grade digital asset management platform. Merging cutting-edge technology with an intuitive interface, Blueprint aims to provide detailed portfolio insights, accessible staking solutions, and a suite of tools that streamline digital asset management and maximize returns for its users. Blueprint launches with an industry-first free staking solution, with a broader suite of features and tools currently in active development.
For more information about Blueprint, please visit theblueprint.xyz
DeFi Technologies Inc.’s Wholly Owned Subsidiary Valour Inc. Unveils Ethereum Physical Staking ETP: Simplifying Staking Innovation for Traditional Investors
DeFi Technologies Inc. (the “Company” or “DeFi Technologies”), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (“DeFi”), is excited to announce that its subsidiary Valour Inc. (“Valour”), a leading issuer of exchange traded products (“ETPs”) that provide simplified access to digital assets, has launched its 1Valour Ethereum Physical Staking ETP, set to redefine and simplify the Ethereum investment landscape. This innovative product aims to harness the essence of Ethereum while offering investors access to additional yield income opportunities.
The 1Valour Ethereum Physical Staking ETP (ISIN GB00BRBMZ19) is issued by Valour’s new EU-wide issuance platform for physically stored digital assets Valour Digital Securities Limited (“VDSL”). This Jersey-based securities issuer has garnered approvals from both Swedish and Jersey regulatory entities and is underpinned by digital assets physically safeguarded by licensed custody providers.
Available for trading on the Frankfurter Wertpapierboerse/ XETRA, the new staking ETP is poised to simplify network participation for investors. With a fixed yield, undefined expiry and a 1.49% management fee, investors have the potential to earn passive returns, sidestepping the technical challenges involved with staking, and actively contributing towards the evolving DeFi landscape. Enhanced security measures including slashing insurance and full collateralization mean investors benefit from additional transparency and security measures.
Crypto staking represents a cornerstone in blockchain dynamics. It enables enthusiasts to immerse in the governance and consensus of Proof of Stake (PoS) blockchains, earning rewards for their contributions. Contrary to energy-hungry Proof-of-Work systems, PoS networks lean on validators who pledge assets to corroborate and usher new blocks. However, the staking landscape isn’t without its intricacies – validators often grapple with asset lock-ups during bonding periods, as well as enduring unbonding spells prior to rewards being unlocked.
Olivier Roussy Newton, CEO of Valour, comments, “The 1Valour Ethereum Physical Staking ETP exemplifies Valour’s commitment to creating innovative and trustworthy investment vehicles. We understand the challenges and complexities of crypto investments. Our mission is to bridge the gap, providing opportunities to enhance returns which are straightforward for our investors. In addition, all ETPs issued under the VDSL umbrella are endowed with the physical delivery option that might benefit investors based in Germany with a tax benefit after a holding period of one year.”
Partnering with elite entities like the VQF registered Copper Markets (Switzerland) AG for custody and industry stalwart Blockdaemon for staking services, Valour guarantees paramount security, ensuring a consistently collateralized, non-custodial staking environment.
Valour Inc. invites progressive investors to partake in this revolutionary venture, unlocking Ethereum’s potential in the most accessible and safeguarded manner.
In addition to their novel digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP and Valour Digital Asset Basket 10, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN) and Valour Digital Asset Basket 10 (VDAB10) ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free.
About DeFi Technologies
DeFi Technologies Inc. is a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi).
With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem.
For more details, visit https://defi.tech/
Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Established in 2019 and based in Zug, Switzerland, Valour is a wholly owned subsidiary of DeFi Technologies Inc.
For more information on Valour, visit https://valour.com
MEKE’s popular public beta boosts BNB L2 trading volume
Over the past year, the most prominent trend in the cryptocurrency market has been the emergence of layer-2 networks. Layer 2, also known as L2, refers to the second layer of solutions designed to address the issues of scalability, speed and high gas fees that are present in L1 networks such as Ethereum and BNB Chain. This introduction of L2 solutions has presented the cryptocurrency market with numerous possibilities.
Whether it was last year’s Optimism or this year’s Arbtirum in March, both have sparked a tremendous surge in demand. The popularity of L2 solutions can be attributed not only to their ability to enhance the performance of blockchains but also to the attention generated by the platforms themselves. Additionally, the emergence of high-quality applications on L2 networks has propelled the entire industry forward.
Both Ethereum and BNB Chain belong to the top tier of L1 networks, with BNB Chain positioning itself as a strong candidate to compete for the top spot against Ethereum. Recently, BNB Chain released its own L2 solution, OpBNB, which features a derivative trading protocol named MEKE. After years of development, MEKE was selected for deployment on the OpBNB test network and has undergone a thorough security audit by the globally recognized firm Certik. On July 31, MEKE commenced its highly anticipated public beta testing, which is expected to conclude shortly. Since the start of the public beta phase, OpBNB’s trading volume and user activity have experienced a significant boost. Participants in the MEKE public beta can enjoy similar benefits as those who participated in the early testing phases of DYDX, Optimism and Arbtirum.
MEKE is a decentralized derivative trading platform developed by a team from the United States in 2021. It facilitates the trading of perpetual contracts on various mainstream cryptocurrencies such as Bitcoin and Ether, with future plans to expand its offering to include commodities like gold, oil, and even US bond futures. MEKE’s standout features include its utilization of smart contracts to ensure transparent and traceable transactions, making it impossible for any party to manipulate the trading process. Furthermore, its user-friendly interface delivers a trading experience similar to centralized perpetual contracts, enabling smooth adoption for users with basic knowledge of wallet operations. The platform also implements a classic order book model, providing a visual representation of trading activity that aligns with the habits of financial professionals and facilitates precise data analysis. Lastly, MEKE boasts a robust proprietary trading engine that enhances transaction efficiency and concurrency.
Another notable highlight is MEKE’s deployment on OpBNB. While there are already numerous products available in the L2 market for ETH, OpBNB was only launched less than a month ago. Introduced by the original BNB Chain team, OpBNB possesses a remarkable block time of one second and offers low gas fees for transfers, amounting to as little as $0.005. It boasts a TPS (transaction per second) exceeding 4,000, surpassing the performance of existing scalability solutions. It is important to note that OpBNB has yet to issue its own platform token.
Cryptocurrency perpetual contract trading currently amounts to trillions of dollars in daily trading volume, twice exceeding that of spot trading. The profits generated by the perpetual contract market are a significant figure. Despite this, decentralized derivative trading, which accounts for only approximately 2% of the overall market, undoubtedly has enormous potential.
MEKE initiated its first phase of public testing on July 31 and is expected to conclude in a short span of time. Due to its expansive market potential and robust technical framework, MEKE has garnered considerable attention globally, featuring coverage in English and Chinese media. It is evident that MEKE’s public testing has led to a surge in transaction volume on the OpBNB testnet.
Similar to other prominent projects, participating in MEKE not only allows one to stay informed about the latest developments in blockchain technology but also provides the opportunity to gain significant potential benefits such as fee sharing and airdrops. Participating in the MEKE public testing phase may offer benefits comparable to early adopters of DYDX, Optimism and Arbtirum testing.
Given the limited issuance of MEKE platform tokens, a unique issuance mechanism has been devised: Participants who engage earlier will receive more substantial benefits. If one joins the public testing phase late, the MEKE testing incentives will gradually diminish until they are fully distributed. The MEKE public testing phase is currently underway.
IBAX Crypto Platform Aims to Revolutionize Ownership of Real-World Assets
IBAX, a cutting-edge blockchain platform, is proud to announce its launch, which enables the creation of digital proof of ownership for real-world assets and commodities. With its unique approach to asset tokenization, IBAX is set to transform the way assets are managed and traded in the digital era.
IBAX Crypto Platform Unleashing the Potential of Digital Assets
Unlike traditional security tokens, IBAX Crypto’s asset or commodity-backed tokens possess a distinct advantage; they carry both the inherent value of the real-world assets or commodities they represent and the liquid value that comes with them. This groundbreaking feature opens up a world of limitless possibilities for investors and asset owners alike, facilitating seamless transactions with enhanced security and transparency.
The rise of digital assets has ushered in an era of financial innovation, and the IBAX Crypto platform stands at the forefront of this digital revolution. By leveraging blockchain technology, IBAX offers a flexible and highly efficient system for managing a diverse range of digital assets. With the IBAX platform’s easy tokenization process, assets can be transformed into digital infrastructure, thus enabling swift and borderless transactions without the requirement for intermediaries.
“We are thrilled to introduce the IBAX Crypto platform, a game-changer in the digital asset landscape,” said Joel Chifunyise – Founder and CEO of IBAX. Our platform empowers individuals and businesses to tokenize their real-world assets and commodities, unlocking a whole new level of liquidity and accessibility. We visualize a future where conventional assets seamlessly integrate with the digital world, and IBAX is here to turn that vision into a reality.”
Unveiling the Key Attributes of the IBAX Crypto Platform
The IBAX crypto platform presents a myriad of pivotal attributes:
- Seamless Asset Tokenization
- Enhanced Security and Transparency
- Global Accessibility
- Ecosystem Integration
The launch of the IBAX Crypto platform marks a significant milestone in the digital asset industry, bridging the gap between the physical and digital worlds. With its unique features and forward-thinking approach, IBAX is all set to reshape the future of asset management and transactions.
To learn more about the IBAX Crypto platform, please visit – https://ibaxcrypto.io
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IBAX is an innovative crypto tokenization blockchain platform that is revolutionizing the way real-world assets and commodities are managed and traded in the digital realm. By enabling the creation of asset or commodity-backed tokens with both real-world and liquid value, IBAX provides a unique approach to tokenization. This innovative platform facilitates seamless transactions without intermediaries, ensuring global accessibility and enhanced security.
Major milestone for First Digital Group as FDUSD stablecoin debuts with Binance listing
First Digital Group, which includes First Digital Trust, one of Asia’s leading qualified custodians and a registered trust company headquartered in Hong Kong, announces that its stablecoin, First Digital USD (FDUSD), issued under the entity FD121, will debut and list on Binance, the world’s largest cryptocurrency exchange by volume.
The FDUSD is 1:1 backed with high-quality cash and cash equivalent reserves, which are held in segregated accounts in regulated financial institutions and are monitored and audited by independent third parties. FDUSD is intended to be redeemable 1:1 for equal value in U.S. dollars. At a time of heightened uncertainty and volatility, the U.S. dollar-pegged stablecoin offers diversification and greater stability against the impact of central bank policies.
FDUSD is also designed to be a programmable digital asset that can interact with financial smart contracts, escrow services and insurance without intermediaries. This significantly enhances the efficiency, security as well as lowering the cost of financial transactions. Compatible with next generation Web3 technologies, new solutions can be built upon FDUSD in the future to unlock new value and further integrate with everyday transactions.
Vincent Chok, CEO of First Digital Trust, commented: “Recent events have shown that conventional assets are not immune to the risk and volatility posed by external events. FDUSD offers a transparent, reliable and trusted alternative that provides the predictability corporates and investors are demanding. We’re delighted to partner with Binance to meet this need and bring FDUSD to market. We look forward to continuing our innovation in the next generation asset space, as well as working with the Web3 ecosystem to build solutions to unlock even greater value from FDUSD.”
The FDUSD listing will go live at 16:00 HKT on 26 July 2023. As part of the launch, Binance will introduce a zero-maker free limited-time promotion for FDUSD trading pairs on FDUSD/BNB, FDUSD/USDT and FDUSD/BUSD spot trading pairs, as well as any new FDUSD spot and margin trading pairs.
FDUSD is available on Ethereum and BNB Chain with planned support for an increasing number of blockchains. For more information, visit our website or read the whitepaper.
About First Digital Labs
First Digital Labs is the brand name of FD121 Limited, a Hong Kong-registered subsidiary under the First Digital Group. First Digital Labs focuses on cutting-edge research and development, specializing in the innovation and advancement of digital currencies. It is the issuer of the FDUSD stablecoin.
About First Digital Trust
First Digital Trust Limited is a qualified custodian and registered trust company headquartered in Hong Kong, servicing an international client base. Established in 2019, First Digital Trust is Asia’s forward thinking, multi-faceted trust partner, bridging the gap between the traditional and digital financial worlds and using technology to tokenize, custody, trade and settle assets.
With over three decades of collective experience, First Digital Trust Limited provides expertise and innovative solutions through a comprehensive and personalized suite of trustee services to help future-proof their partners. This includes structuring, custody, payroll, escrow, and administration services. First Digital Trust was named one of the leading Emerging Giants of Hong Kong in KPMG and HSBC’s ‘Emerging Giants in Asia Pacific’ Report 2022.
To learn more about First Digital Trust and its regulated infrastructure and products, visit www.1stdigital.com
First Digital USD (FDUSD) is a 1:1 USD-backed stablecoin issued by FD121 Limited. To learn more about First Digital’s newly launched stablecoin offering, visit www.firstdigitallabs.com
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com
Edelcoin: A New Era of Stable Payment Tokens, Now Accessible on Edelcoin.com
Edelcoin AG, a Swiss-based pioneer in the tokenisation industry, is proud to introduce an innovative product, Edelcoin (EDLC), to the global market. Edelcoin is a stable payment token backed by a basket of precious and base metals, marking a significant advancement in digital currencies.
Edelcoin is not just another digital currency; it’s a revolution in stable payment tokens. It offers more stability than single fiat- or metal-based stablecoins and the same versatility as other digital currencies. The token is built on secure, scalable, and reliable blockchain technology, ensuring users can confidently transact.
“We are thrilled to unveil Edelcoin to the world,” said Andreas Wiebe, CEO of Edelcoin AG. “Our mission is to make digital currency transactions seamless and accessible to everyone, regardless of their experience level. We believe that blockchain technology has the potential to transform the global economy, and we want to be at the forefront of that transformation.”
In line with this mission, Edelcoin AG is delighted to announce the launch of its new website, Edelcoin.com. The launch of Edelcoin.com marks a significant milestone in the company’s journey. With its user-centric approach, Edelcoin aims to set a new standard in the crypto industry, providing a platform that is secure, transparent, and easy to use.
Edelcoin invites everyone to visit the new website and explore its features. Whether you’re a seasoned investor or a newcomer to the digital currency world, Edelcoin.com has something to offer you.
For more information, visit https://edelcoin.com
Phemex Officially Launches Much-Anticipated Full Pre-Mining for Phemex Soul Pass Holders
Phemex, a leading crypto exchange platform, officially launched full pre-mining for its Phemex Token (xPT) on Thursday July 6, 2023 at midnight (0:00 UTC), further crystallizing the concept of its revolutionary hybrid semi-centralized crypto exchange model that combines the advantages of centralized and decentralized platforms to focus on trust, transparency, and user empowerment for a more reliable trading experience. Any user or organization with a Phemex Soul Pass (PSP) who has traded over US$100,000 in trading volume in the prior 30 days (including contracts and all spot pairs) can participate in xPT pre-mining. Once their PSP is minted, users will automatically be eligible for the pre-mining event, with no additional steps required.
During the whitelist stage, Phemex enlisted a total of 961 whitelisted Soul Pass users, with this number currently surpassing 1,228, most of whom are Phemex core partners and professional traders. Phemex has given each user a maximum of five friend invitations, so things are growing fast, and interest is spreading rapidly as this early stage is exclusively for users within the whitelist invitation system, making it a scarce resource. With the xPT pre-mining full release on Thursday, a large influx of new users is expected.
As a world-leading crypto exchange, Phemex already possesses the advantages of flexible on- and off-ramps, a user-friendly interface, and deep liquidity, as evidenced by the wholly transparent and self-proving Proof-of-Reserve and Proof-of-Solvency mechanisms Phemex launched in November 2022. By innovating the Phemex Soul Pass to build a transparent Web3 reputation system, Phemex has also unlocked decentralized finance (DeFi) opportunities including, trustworthy decentralized autonomous organization (DAO) management, automated market maker (AMM) liquidity provider integration, decentralized credit scores, and a lending protocol that supports uncollateralized loans.
Phemex recognizes the ever-evolving nature of the blockchain space. Initially focusing on financial use-cases, cryptocurrencies have paved the way for a new exchange model and the Company believes that by combining the strengths of centralized and decentralized exchanges, transparency, accountability, security, and community involvement can be enhanced. Phemex has established a DAO for decentralized governance and increased community engagement and through their hybrid exchange model, the Company aims to empower users and partners, enabling them to actively participate in decision-making and profit-sharing. With a commitment to transparency and community involvement, Phemex strives to create a more inclusive and fair financial future.
Decentralization, especially DeFi, has been continuing to make monumental strides and the metaverse has not disappeared. It encompasses a blockchain-powered virtual world or universe, accessed through an open-source digital platform that enables virtual reality or augmented reality experiences. With ongoing technological advancements, the metaverse holds promise as a significant element of daily life, similar to how internet communities are currently established but within virtual communities. This evolving technology has the potential to reshape human interactions and engagements, offering immersive and interactive experiences within a digital realm, leading McKinsey to report in June 2022 that the metaverse has the potential to generate up to US$5 trillion by 2030.
To learn more, please visit the pages below:
Phemex Soul Pass: https://phemex.com/web3/soulpass
Phemex Token: https://phemex.com/web3/pt
xPT Pre-mining: https://phemex.com/web3/premining
Announcement on opening of xPT Pre-Mining: https://phemex.com/announcements/phemex-web-30-xpt-pre-mining-is-open-to-all-on-july-6.
Phemex is a certificated crypto exchange providing an efficient and transparent trading experience with a commitment to all-round 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 facilitate the building of users’ crypto portfolios through its low latency and scalable environment, as well as a fair matchmaking system that ensures prices and timing are prioritized.
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