News Bytes – 5

Auto Added by WPeMatico

Hong Kong SFC Seeks Industry Feedback on New Licensing Rules for OTC Crypto Services

by

Hong Kong’s Securities and Futures Commission (SFC) is actively seeking input from industry participants on proposed new licensing regulations for over-the-counter (OTC) cryptocurrency services. The initiative aims to establish a comprehensive framework that mandates licensing and adherence to anti-money laundering (AML) and counter-terrorist financing regulations. This move, which includes joint supervision by the SFC and … Read more

Metaplanet Grows Bitcoin Holdings With $2.2 Million Acquisition

by

Metaplanet, a publicly listed Japanese company, has significantly boosted its Bitcoin holdings with a recent acquisition of 38.6 bitcoin for $2.2 million (¥300 million). This purchase increases their total bitcoin assets to 398.8 BTC, valued at around $27.6 million (¥3.75 billion). The company’s strategy, similar to that of Microstrategy, involves using debt to acquire bitcoin … Read more

Polygon Labs to Invest $5 Million in Acquiring VPU-Based Server Systems

by

Polygon Labs has announced a $5 million investment in Fabric’s custom Verifiable Processing Unit (VPU) to enhance the performance of its ZK-powered protocols. This investment marks Polygon Labs as the first protocol to adopt these next-generation crypto-native hardware systems. The VPU, designed to support advanced cryptographic operations and optimized for ZK cryptography, aims to accelerate … Read more

Bitcoin Layer 2 Protocol Stacks Achieves New High in Smart Contract Deployments

by

Stacks, the Bitcoin Layer-2 protocol, has achieved a new high in smart contract deployments, with a 30% month-over-month increase. This growth reflects the ongoing efforts of developers to enhance the Bitcoin ecosystem, making Bitcoin a more productive network. The increase in deployments highlights the potential for decentralized finance (defi) on Bitcoin and the innovative projects … Read more

Woo X Introduces Social Trading With Ability to Hedge Against Leading Traders

by

Woo X, a crypto futures and spot trading platform, has launched its new social trading product, featuring a counter trading feature. This tool allows users to hedge against lead traders, offering additional opportunities for profit in varying market conditions. The platform also introduces a fair profit-sharing model, ensuring users only share profits when truly in … Read more

Bitget Launches Direct Deposit Option for Mexican Pesos

by

Cryptocurrency exchange Bitget has announced a strategic partnership with Swapple to facilitate crypto payments in Mexican Pesos (MXN) via the Interbank Electronic Payment System (SPEI). Operated by Banco de México, SPEI allows for near-instantaneous electronic funds transfers between bank accounts in Mexican pesos, providing a secure and efficient way to move money. This integration aims … Read more

Friend.tech Team Renounces Control Over Smart Contracts

by

Friend.tech, the struggling decentralized social media application, has announced a major update to its platform, setting the admin and ownership parameters of its smart contracts to the address 0x000…000. This move effectively renounces control over these contracts, ensuring that no future changes can be made to their fees or functionality. The web client at friend.tech … Read more

Travala Integrates With Skyscanner, Enabling Crypto Payments for Over 2.2 Million Hotels

by

Crypto-native travel platform Travala has announced its integration with global travel marketplace Skyscanner. This partnership allows Skyscanner’s 110 million monthly users to discover and book over 2.2 million hotels using more than 100 cryptocurrencies via Travala. This integration positions Travala alongside leading travel agencies like Expedia and Booking, enhancing visibility and driving new users to … Read more

Mastercard Launches Crypto Debit Card for Self-Custodial Wallets in Europe With Mercuryo Partnership

by

Mastercard has announced the launch of a new crypto debit card in Europe through a partnership with Mercuryo. This innovative card allows users to spend over 40 different cryptocurrencies directly from their self-custodial wallets at more than 100 million merchants across the continent. Mercuryo, a European crypto payments infrastructure provider, aims to simplify the use … Read more

Nexo Reopens UK Registrations With Enhanced User Protections

by

Nexo, a crypto lending platform known for offering instant crypto-backed loans and high-yield interest accounts, has resumed new user registrations in the United Kingdom after a 10-month hiatus, implementing enhanced user protections to comply with the Financial Conduct Authority (FCA) guidelines. The platform has introduced mandatory risk warnings, cool-off periods, and improved compliance measures to … Read more