Day: November 8, 2023

HSBC to launch digital asset custody services in collaboration with Metaco

HSBC plans to offer digital asset custody services for institutional clients.
The bank will offer the custody services in collaboration with Metaco, a DeFi firm owned by Ripple.
The custody services will complement HSBC’s existing digital asset issuance platform, HSBC Orion.

HSBC Holdings Plc is gearing up to make a significant move in the financial industry by offering custody services for digital assets to institutional clients.

In a strategic partnership with Ripple-owned decentralized finance (DeFi) firm Metaco, the global banking giant is set to provide solutions tailored to the evolving landscape of digital finance.

HSBC’s plan

HSBC’s foray into digital asset custody is a response to the rising demand from asset managers and owners for secure and efficient management of digital assets.

These services are anticipated to become operational in 2024, aligning with the bank’s vision of staying at the forefront of the digital finance revolution.

HSBC Orion, the bank’s digital asset issuance platform, already symbolizes ownership of physical gold stored in its London vault through digital tokens. The platform tokenizes physical gold using blockchain technology.

The forthcoming digital assets custody service will work in tandem with HSBC Orion, broadening the scope and robustness of the bank’s digital asset infrastructure.

Blockchain adoption in the finance industry

HSBC’s move follows the lead of other major financial institutions, including JPMorgan and Deutsche Bank, which have been actively exploring blockchain applications for commercial purposes. JPMorgan’s JPM Coin payment system, for example, is processing a daily transaction volume of $1 billion.

Notably, Citigroup, another prominent financial institution, is also making strategic moves in the digital asset space. While Citibank has an existing collaboration with Metaco, recent reports suggest that it is engaged in informal discussions with alternative service providers. This may be influenced by Ripple’s acquisition of Metaco for $250 million, highlighting the competitive dynamics in blockchain adoption among financial giants.

HSBC’s entry into digital asset custody is more than just an expansion of its product portfolio; it represents the bank’s commitment to adapting to the changing financial landscape. It acknowledges the growing role of blockchain technology and digital assets in the future of finance.

As institutional clients increasingly seek secure and innovative digital asset services, HSBC is positioning itself as a go-to provider, aligning its trajectory with the pulse of a digital-first financial ecosystem. The banking giant’s upcoming digital asset custody service is a bold declaration of its vision for a future intertwined with blockchain innovation.

This development signifies a new era where traditional banking meets digital transformation, and HSBC is setting the pace, ensuring its institutional clients are well-equipped for the journey ahead.

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Stackr Labs raises $5.5 million in seed round

Stackr Labs’ $5.5 million seed round was led by Archetype, with participation from a16z CSS, Lemniscap, and Spartan Capital among other VC funds.
The Ethereum scaling platform will use the funds to boost Web3 app development.

Stackr Labs, an Ethereum scaling platform aimed at advancing dApp development, has secured $5.5 million from investors. Venture capital firm Archetype led the startup’s seed funding round, with participation from a16z CSS, Spartan Capital, Lemniscap, Scalar Capital and Superscrypt among others.

The seed round also attracted investment from angel investors like Anurag Arjun, Sreeram Kanan, Mustafa Al-Bassam and Andrew Keys.

Bridging Web2 to Web3

Stackr indicated in an announcement that it will use the funds to empower developers to build scalable apps. The platform will release a preview of the product for developers, allowing them to test the solution before it goes live.

 “For too long, decentralized app development has been reserved for a niche subset of crypto-natives. Our goal is to make it accessible for all – to break down the barriers between Web2 and Web3 by making it easy to build and operate rollups,” Kautuk Kundan, founder and CEO of Stackr Labs, said.

“Instead of putting their entire applications on-chain, we anticipate Web2 applications will prefer a more gradual approach, by decentralizing the specific pieces they want on-chain,” he added.

According to the team, Stackr targets developers and enterprise teams in both the Web2 and Web3 ecosystems, offering its micro-rollup solution to all.

The platform also eyes a grants program that will soon be available to both Web2 and Web3 developers. The goal here is to incentivise building on the platform. The platform is also gearing up to the release of its technical paper that will include Stackr’s architecture and roadmap.

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OPNX obtains EU spot crypto trading license in Lithuania

Crypto exchange OPNX secured a virtual asset license for EU operations.
The exchange will have to adhere to high compliance and security standards.
OPNX plans to acquire additional licenses for broader service offerings throughout the EU.

OPNX, the cryptocurrency exchange founded by Kyle Davies and Su Zhu, has obtained a virtual asset service provider (VASP) license from Lithuania.

The exchange can now offer spot crypto exchange services throughout the European Union.

High standards of compliance and security

The licensing announcement emphasizes OPNX’s commitment to adhering to the highest standards of compliance and security. In pursuit of this goal, the exchange has already implemented a robust Know Your Customer (KYC) and Anti-Money Laundering (AML) system to ensure it complies with EU regulations.

Leslie Lamb, CEO of OPNX, expressed the importance of this achievement, stating, “Securing the VASP license from Lithuanian authorities is a significant milestone in OPNX’s worldwide expansion and our mission to serve crypto users across the globe.”

However, Lamb clarified that while this license allows OPNX to provide spot trading services throughout the EU, some jurisdictions within the EU may require specific licenses to operate certain services. OPNX is actively working to acquire these additional licenses to broaden its service offerings.

Controversies facing OPNX and its reply

OPNX has faced controversy due to its founders’ associations with prior bankruptcies in the cryptocurrency industry. Kyle Davies and Su Zhu were also involved in the bankrupt crypto hedge fund Three Arrows Capital (3AC), and Mark Lamb and Sudhu Arumugam founded the bankrupt crypto exchange CoinFLEX.

Critics have raised concerns about the safety of using OPNX, but the exchange asserts that it is assisting bankruptcy creditors by enabling them to sell their bankruptcy claims and receive payments more swiftly.

The licensing of OPNX in Lithuania allows the exchange to extend its services to a broader European audience, offering spot crypto trading services. While controversy surrounds its founders’ previous ventures, OPNX remains committed to meeting regulatory standards and expanding its services in line with the evolving cryptocurrency industry.

With a focus on compliance and security, OPNX aims to serve the cryptocurrency community within the EU while actively working to obtain the necessary licenses for other services in specific EU jurisdictions.

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Bitget Academy and UCL join forces to train future blockchain leaders

Victoria, Seychelles, November 8th, 2023, Chainwire

Bitget, a leading cryptocurrency exchange and web3 company, has formed an educational partnership with the University College London’s (“UCL”) Blockchain Society and FinTech Society. The partnership will give students an in-depth understanding of blockchain technology and trading through Bitget Academy’s comprehensive resources.

Built upon Bitget’s Blockchain4Youth initiative, this collaboration will offer a curriculum beyond traditional theoretical instruction. It will deliver a combination of expert lectures, interactive sessions, and practical knowledge on blockchain and trading. Students will receive certification upon completing the course, which will help them in future blockchain industry endeavors.

Under Blockchain4Youth, Bitget has adopted a 360-degree approach as it plans to invest $10 million through the initiative over the next 5 years.

UCL Blockchain Society: Connecting aspiring developers and strategists

Founded in 2016, the UCL Blockchain Society is one of Europe’s largest societies. It offers aspiring blockchain developers and strategists a platform to connect and collaborate with their industry peers.

On the other hand, UCL FinTech Society establishes in 2016, has rapidly grown into Europe’s largest FinTech society. Both societies offer students a platform to engage with emerging trends and career opportunities through workshops, conferences, speakers, and networking events. UCL FinTech Society’s mission is to nurture innovative, forward-thinking professionals who can bridge industry gaps with cutting-edge technologies.

Situated in the Finance Center of Europe – London, UCL is one of the World’s Top 10 University on QS World University Rankings and the school is committed to pushing the boundaries of technology and applications. Partnering with Bitget Academy will enhance its educational initiatives and ensure students are well-equipped for the challenges and opportunities of blockchain and FinTech.

The collaboration between Bitget and UCL will close the gap between academic learning and real-world application, making blockchain and trading concepts accessible and practical. Students are given theoretical tools and are taught how to apply them in a dynamic marketplace: a valuable skill in the fast-paced digital economy.

Eyes on the emerging talents

With blockchain technology already disrupting some traditional industries, the partnership between Bitget Academy and UCL is a welcome educational addition. As the blockchain ecosystem grows in complexity and scope, it’s crucial to prepare the incoming talent pool for upcoming challenges and opportunities. As the lines between technology and finance continue to blur, partnerships like this signal a promising future where education can keep pace with rapid technological advancements.

“Bitget’s core mission has always been to simplify the world of blockchain and cryptocurrency trading,” said Bitget Managing Director Gracy Chen. “With our partnership with UCL, we are able to extend our educational initiatives to a diverse group of passionate young individuals who are eager to learn about this transformative technology. Through strategic collaborations and partnerships with esteemed entities like UCL and renowned Argentinian footballer Lionel Messi, Bitget actively encourages individuals to embrace cryptocurrencies and nurtures a genuine passion for this field.”

Boosting the accessibility of blockchain and trading

The curriculum of the collaboration course will cover the following:

Blockchain Basics: Principles, decentralized frameworks, and historical context.
Trading Fundamentals: Market navigation and decision-making techniques.
Advanced Blockchain Subjects: Consensus algorithms, smart contracts, and decentralized applications (dApps).
Derivatives and Advanced Trading: Understanding futures, options, and unique Bitget trading methods.

Students will participate in expert lectures by industry leaders, who will offer insight into facets of blockchain and trading; join interactive sessions that include hands-on workshops, group activities, and simulated trading experiences; enjoy networking opportunities provided by interacting with Bitget professionals and peers from various industries, and receive credentials signifying course completion and industry readiness.

The course is open to all UCL students interested in blockchain and trading; no prior experience is necessary, and self-paced learning is encouraged. UCL students can take the course free of charge in alignment with Bitget’s commitment to accessible education.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

 

Contact

Rachel Cheung
media@bitget.com

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NuggetRush presale round 2 kicks off with 20% price increase, is this the next Dogecoin challenger?

NuggetRush’s 20% price increase in Round 2 places it a main Dogecoin challenger.
The Play-to-Earn model and gold rewards make NuggetRush a crypto coin with real-world utility.
With its strategic growth and genuine utility, crypto whales are setting their eyes on this newcomer.

There is no doubt that NuggetRush (NUGX) is getting popular in the crypto world day by day. It’s now in its second presale round and guess what? The price just jumped by 20%. Now, this top crypto coin is available at $0.012. That’s pretty cool, right? Many folks are talking about it and wondering if it has what it takes to be a big player, like Dogecoin.

Speaking of Dogecoin, remember when it was the talk of the town? It soared high and made many millionaires. Now, some are feeling the same for NuggetRush. With its quick growth and rising popularity, some believe it might even challenge Dogecoin’s throne. Let’s figure out if this could be one of the best crypto to invest in.

NuggetRush presale round 2

Round 2 of the presale for NuggetRush (NUGX) is now live. Starting its journey in Round 1 with a sweet spot price of just $0.01, it has now leapt a notable 20%. This makes the current price $0.012. If you’re pondering over the best cryptocurrency to buy now, NuggetRush could be an option before it jets off further.

A closer look at its investment details reveals a whopping $240K raised to date. This makes it the best crypto investment for those who are looking for a real-world utility cryptocurrency. Now, for a little trip down memory lane: remember the early days of Dogecoin? 

Yep, it also hoarded a similar amount in its initial 3 weeks. Drawing parallels, one might wonder if history’s about to repeat itself with NuggetRush.

Here’s a little cherry on top for those who are still exploring other options. Many analysts suggest that the big players – the so-called ‘crypto whales’ are setting their sights on NuggetRush. A nod from these titans can be a game-changer for this new ICO.

Why is NuggetRush so popular among the youth?

You will hear that the crypto world is coming up with new projects daily. However, one name that stands out from the rest is NuggetRush. But what’s the secret behind its rising popularity? The answer lies in its Play-to-Earn (P2E) gaming model.

While Dogecoin managed to charm the community with its meme beginnings, it lacked real-world utility. This was well addressed by NuggetRush to make sure it covers what Dogecoin lacked. In today’s world, who doesn’t like gaming? 

And NuggetRush takes it a step further. Instead of just pure recreation, imagine playing a game that rewards you with actual money. That is the reason for its popularity which makes it the best crypto for beginners. Players mine and discover gold with treasure hunts. 

But the real magic happens post-game. The gold mined in the virtual world isn’t just on a screen. Players can trade it in for genuine gold. A game that essentially pays you in gold? Now that’s a golden opportunity!

And to ensure a uniform spread, NuggetRush has allocated a whopping 43% of its coins for public purchase. This is to make sure everyone gets a fair shot at buying this new crypto project. 

Conclusion

NuggetRush’s impressive rise during its presale second round shows its tremendous potential. With a strategic 20% price rise, it’s positioned strongly as the best crypto to buy against the beloved Dogecoin. 

While Dogecoin had its awesome days, this new crypto is stealing the spotlight this month. Time will tell if NuggetRush becomes the next big thing, but early indicators are promising. If you’ve been pondering which crypto to buy today, this contender is worth a closer look.

For more information about the ongoing NuggetRush presale visit NuggetRush Presale Website.

The post NuggetRush presale round 2 kicks off with 20% price increase, is this the next Dogecoin challenger? appeared first on CoinJournal.


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