Monat: September 2023

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OKX partners with Solana Mobile to expand Web3 access via Saga

  • OKX app launches in Solana Saga dApp store
  • Access to the OKX app via Solana Saga expands Web3 to more users.
  • Solana Saga is a crypto-ready smartphone launched in April.

Crypto exchange OKX has partnered with Solana Mobile in a collaboration that sees the OKX app added to the dApp store of Solana’s Web3 smartphone Saga.

OKX app added to Saga Web3 phone

OKX said in an announcement on Tuesday that the partnership makes it one of the first exchanges to have their app available to users via the Solana Web3 smartphone. This will help unlock the Web3 for Saga users tapping into OKX products, the exchange added.

“This partnership exemplifies the boundless potential of Web3. By uniting OKX’s suite of next-gen products with the Solana Saga, we are dramatically expanding everyday access to the open, decentralized future that Web3 enables,” Jason Lau, OKX Chief Innovation Officer, said in a comment.

Solana Mobile, a subsidiary of Solana Labs, unveiled its crypto-ready, Android-based mobile phone in April 2023, before a public sale opened on May 8.

The smartphone offers users self-custody for crypto assets, and comes with a Seed Vault that helps protect a user’s private keys via secure hardware and AES encryption. Saga users can access Web3 native dApps.

The post OKX partners with Solana Mobile to expand Web3 access via Saga appeared first on CoinJournal.

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Nexera Exchange launches its on-chain limit order book

Key takeaways

  • Nexera Exchange’s first innovative trading feature is now live.

  • The on-chain limit order book feature enhances interaction with decentralised exchanges it is integrated with. 

Nexera Exchange’s first innovative trading feature is now active

Nexera Exchange, the platform recently introduced by AllianceBlock, has added an innovative on-chain limit order book to the exchange.

In a press release shared with Coinjournal, the team said the feature serves as an intermediary layer and would boost the interaction with the DEXs it is integrated with. It aims to achieve this by presenting an efficient and user-friendly interface while integrating features usually available on centralised exchanges. 

The team pointed out that Nexera ensures more liquidity when users leverage an on-chain limit order book protocol. 

The launch of the on-chain limit order book is the start of the second phase of development for Nexera. The development team intend to roll out more features over the coming months. 

The feature allows users to set up limit orders securely on-chain

Thanks to the launch of the on-chain limit order book feature, users can set up a limit order securely stored on-chain. Nexera then determines the optimal match for that order, whether from the on-chain order book or Uniswap V3’s liquidity pools. 

The Nexera team will be rolling out more features soon, including Staking-Enabled On-chain Order Books, Order-Triggering Matching, Yield-Optimized Staked Order (YOSO) and Dynamic Range Order Book Provision. 

Nexera intends to add more features to its platform in a bid to provide traders with advanced trading tools. AllianceBlock, Nexera’s parent company, also seeks to seamlessly blend the distinct functionalities of DEXs with an array of DeFi primitives. The end goal is to provide traders with an enriched toolkit

AllianceBlock is an infrastructure provider for decentralized tokenised markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenised digital assets, including real-world assets (RWAs).

The post Nexera Exchange launches its on-chain limit order book appeared first on CoinJournal.

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New UK bill to seize stolen crypto reach final approval stage

Key takeaways

  • The UK House of Lords has passed a bill to seize stolen cryptocurrencies.

  • The bill targets monetary proceeds from fraud or other financial crimes.

The UK government could seize stolen cryptocurrencies

A bill that seeks to expand the ability of UK authorities to target illicit cryptocurrency usage has been passed for approval by the House of Lords. 

The bill, dubbed the Economic Crime and Corporate Transparency Bill, was introduced a year ago. The bill seeks to tackle crypto-related financial crimes. Since the introduction of the bill, it has gone from the House of Commons to the House of Lords and is now at the final stage of approval. 

Per the bill, the authorities will target monetary proceeds from fraud or other financial crimes. Furthermore, the bill also seeks to introduce provisions for corporate transparency and overseas business registrations.

Now that the bill is at its final stage, the House of Commons will vote to accept the proposed amendments or recommend changes to the bill. If approval is obtained, the bill will be signed into law via royal assent (the monarch approvals the bill as an act of legislature). 

The U.K.’s financial regulator, the Financial Conduct Authority (FCA), recently pointed out that it is willing to work with crypto companies to introduce a regulatory framework for the cryptocurrency industry. 

The regulatory agency, via Executive Director Sarah Pritchard, made this known while speaking at the London’s City Week conference. She stated that;

“Let’s work together to shape our rules and regulations to benefit markets, consumers and firms as crypto goes from niche to mainstream.”

She added that the FCA’s responsibilities also include ensuring that crypto firms operating in the country comply with Anti-Money Laundering and Counter-Terrorist Financing legislation.

The FCA has been expanding its base within the crypto industry. In July, the regulatory agency launched a permanent digital sandbox to serve as a testing environment for crypto companies and others to see how their products would perform at an early stage of development.

The post New UK bill to seize stolen crypto reach final approval stage appeared first on CoinJournal.

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Stellar announces testnet for Protocol 20 upgrade

  • Stellar (XLM) will activate the testnet for Protocol 20, its latest network upgrade, on September 20 at 15:00 UTC.
  • The upgrade will introduce the Soroban smart contracts on mainnet.
  • XLM price was largely muted around $0.11.

Stellar is preparing for its biggest network upgrade – the upcoming Protocol 20 upgrade – which will introduce Soroban smart contracts to the mainnet. The upgrade will benefit developers and businesses building on Stellar, according to an announcement published on Monday.

Introducing Soroban smart contracts

Soroban is a developer-friendly, Rust-based smart contracts platform designed to integrate with the Stellar blockchain.

“It’s by far the biggest, most complex protocol upgrade to date, and so while the basic instructions to prepare are the same as ever — install up-to-date versions of any Stellar-related software you use! — the process will take a few extra steps and play out a bit slower than usual,” Justin Rice, VP of Ecosystem at the Stellar Development Foundation said in a blog post

Per the Stellar exec, the testnet will roll out on Wednesday, September 20 at 15:00 UTC. Testnet nodes will have to install the latest versions of the Stellar Core and Horizon.

Once the stable release is out, Stellar expects mainnet validators to schedule an upgrade vote determining the potential date for the public network upgrade. The vote date will be for six weeks after the stable releases.

“Because the Protocol 20 upgrade introduces new network settings that validators control, it is also likely that the initial upgrade vote will be followed by a series of additional votes to adjust those settings,” Rice added.

XLM price outlook

The price of XLM, native Stellar token, was hovering at $0.11 – just in the green in the past 24 hours.

However, XLM/USD was down 7.5% in the past week and was struggling for upside momentum following recent declines from highs of $0.13.  The upswing and subsequent losses followed Stellar’s teasing of a major development that turned to be a “buy the rumour, sell the news,” scenario.

This means XLM is poised near the key support level of $0.10, below which sellers could target $0.09 and then $0.07. On the upside, resistance is likely at year-to-date highs around $0.16.

The post Stellar announces testnet for Protocol 20 upgrade appeared first on CoinJournal.