Author: NBTC
Hong Kong Virtual Asset Exchange (HKVAX) has secured licensing from Hong Kong’s Securities and Futures Commission (SFC) to operate a virtual asset trading platform. The approval makes HKVAX the third licensed crypto exchange in the city and the first to be authorized under the virtual asset regulatory framework introduced two years ago. HKVAX licensing According to an Oct. 4 statement shared with CryptoSlate, HKVAX obtained a Type 1 license for securities trading and a Type 7 license for offering automated trading services. The exchange also acquired an Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) license from the SFC. HKVAX specializes…
Chromia has announced its latest partnership and strategic investment in Elfa AI, an AI-powered social platform that offers real-time, data-driven insights to help users navigate the fast-moving crypto market. This marks the first initiative backed by Chromia’s Data and AI Ecosystem Fund, dedicated to projects that harness data in innovative ways within the blockchain space.—Elfa AI simplifies the process of identifying market opportunities by leveraging artificial intelligence to analyze vast data from platforms like X, Telegram, and other on-chain sources. The platform provides users with customizable signals based on their preferences, enabling them to trade cryptocurrencies directly within the app…
The unidentified Bitcoin (BTC) whale has become unexpectedly active in the last 24 hours, increasing the cryptocurrency accumulation in its wallet and bringing its share to 12,131 BTC. According to data from Arkham Intelligence, the address “bc1qmpn” originally appeared on on-chain radar two weeks ago, when it landed 16.87 BTC, equivalent to $1.01 million. The funds came from another unknown address under the name “bc1qcacv.” Then, eight days later, the new whale received another 176.616 BTC, worth another $10.63 million, and its activity stopped for a while. However, in the last 24 hours, an unknown large player began to aggressively…
The project demonstrated that tokenized assets could be used to meet intraday margin calls instantaneously, regardless of traditional settlement cycles, processing times and time zones, Digital Asset’s Kelly Mathieson said. Tokenized gold allowed the precious metal to be used more freely as collateral without traditional limitations like storage, a World Gold Council executive noted. Real-world asset tokenization company Digital Asset said Tuesday that it completed a pilot initiative to tokenize U.K. bonds (gilts), Eurobonds, and gold for financial transactions using the Canton Network protocol. Major securities settlement provider Euroclear, the World Gold Council and global law firm Clifford Chance also…
During a conversation at EthCC, Greg Osuri, the mastermind behind Akash Network, revealed compelling insights into his entrepreneurial journey, the birth of Akash, and the promising future of decentralized cloud computing. Before launching Akash Network, Osuri made a significant impact on the tech world with AngelHack, known for mainstreaming hackathons and fostering numerous startup successes, including Firebase, which was eventually acquired by Google. “Transforming hackathon projects into scalable, robust solutions presents a formidable challenge,” Osuri stated, describing his transition towards container technologies and his extensive contributions to the Kubernetes ecosystem. Explore the revolutionary journey of Akash Network, led by Greg…
Monerex, a Fintech company focused on building decentralized, Web3 banking platform, is pressing ahead with its ambition to become a top-tier Web3 bank, despite the Securities and Exchange Commission’s (SEC) ongoing appeal. According to the company, the legal challenges will not interfere with its roadmap. Monerex continues to emphasize its commitment to decentralized finance, especially by leveraging the power of Ripple’s XRP Ledger (XRPL). Amidst the regulatory uncertainty, Monerex reaffirms its partnership with Ripple, solidifying its position in the Web3 banking space. The Monerex team remains fully committed to becoming a leading Web3 bank, despite the SEC’s ongoing appeal, which…
Router Protocol, a Coinbase Ventures-backed decentralized blockchain network, is improving cross-chain functionality through a new integration with Solana. The partnership enhances cross-chain interactions, enabling users to access multiple blockchain ecosystems and improve decentralized applications, according to a press release shared with crypto.news. This move allows Solana’s (SOL) ecosystem, including its decentralized exchanges, non-fungible token marketplaces, and decentralized finance projects, to connect with other major blockchain networks like Ethereum (ETH), Avalanche (AVAX), and Polygon (POL). Router Protocol is a decentralized tool for cross-chain communication. It essentially helps blockchains interact with each other. This is important because many blockchains operate in isolation,…
Bitcoin (BTC) could reach $72,000 in October, according to Ryan Lee, Chief Analyst at Bitget Research. The forecast cites improved macro liquidity, bottoming indicators, and institutional optimism as key factors driving the potential price surge. Lee points to the US Federal Reserve’s 50 basis point interest rate cut on Sept. 18, lowering the federal rate to 4.75%-5%, as a signal of a shift in monetary policy. This injection of liquidity into the market led to short-term rises in both US stocks and crypto prices, with BTC rising 6.6% since then while the S&P 500 grew 1.24%. Notably, Lee stated that…
Canary Funds has launched an investment vehicle called the Canary HBAR Trust in the US to provide institutional investors with exposure to HBAR. The investment vehicle is part of Canary Fund’s goal to pave the way for HBAR exchange-traded funds (ETFs). HBAR is the native digital asset of the Hedera Network. The Hedera Network actively supports asset tokenization, Web3 deployment and application, and NFT issuance. The Trust Fund will require individual investors to meet certain requirements before being accepted. Canary Funds was developed by Steven MCCLURG, former co-founder and CIO of Valkyrie Funds. Valkyrie Funds is an approved exchange-traded fund…
XRP trade volume spikes to high last witnessed before the SEC’s lawsuit against Ripple, per data sourced by analytics firm Kaiko. Citing Kaiko data, blockchain researcher Colin Brown reveals that XRP’s market activity has returned to levels seen before the SEC lawsuit. According to him, XRP trading volumes in U.S. markets have significantly increased since Judge Analisa Torres’ summary judgment decision last July. Notably, the court ruling noted that XRP in itself is not a security. It also clarified that Ripple’s XRP sales via secondary trading platforms are not considered securities transactions, whereas direct sales to institutional investors are classified…