Monat: Dezember 2023

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Russia’s Exved launches cross-border crypto payments with Tether’s USDT

  • The platform supports Tether’s USDT stablecoin.
  • Exved has garnered regulatory approval from the Bank of Russia and the Federal Financial Monitoring Service of the Russian Federation.

Exved, a Russian digital settlement exchange, has launched a cross-border payment service that enables local legal entities to conduct international settlements using Tether’s USDT stablecoin.

This groundbreaking move showcases a significant step forward in the intersection of traditional finance and the cryptocurrency landscape, offering a streamlined solution for Russian businesses engaged in global transactions.

Cross-border crypto payment solution for Russians

Exved’s crypto cross-border service makes it one of the first platforms empowering local legal entities in Russia to conduct cross-border digital payment services with a focus on cryptocurrencies. The platform operates through a business-to-business (B2B) electronic system, allowing Russian importers and exporters to seamlessly place and execute offshore orders.

Exved’s innovation lies in its support for Tether’s USDT stablecoin, offering a reliable cryptocurrency option alongside the US dollar and offshore ruble for international settlements.

Exved’s crypto compliance and regulatory approval

Exved has obtained regulatory approval from the Bank of Russia and the Federal Financial Monitoring Service of the Russian Federation, adding a layer of credibility to its operations. The platform exclusively collaborates with legal entities, ensuring strict compliance with Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) measures.

This approach aligns with the broader regulatory framework in Russia and reflects Exved’s commitment to adhering to compliance standards within the country’s financial landscape.

While targeting primarily a Russian audience, Exved aims to showcase the efficiency of its cross-border payment solution by enabling transactions with lower fees—typically 2–3%, compared to the usual 6–7%.

The platform not only simplifies international payments but also offers complementary services for legal transaction documentation, acting as an escrow agent.

With the involvement of well-known brokers and technical specialists, Exved positions itself as a key player in the cross-border payment market, leveraging cryptocurrencies to enhance the efficiency and cost-effectiveness of financial transactions for businesses in Russia.

The post Russia’s Exved launches cross-border crypto payments with Tether’s USDT appeared first on CoinJournal.

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Jack Dorsey’s company, Block, launches Bitkey Bitcoin hardware wallet

  • Block, led by Jack Dorsey, introduces Bitkey, a $150 Bitcoin hardware wallet.
  • The wallet is currently available for pre-order in over 95 countries including US, UK, Nigeria, and India.
  • Customers won’t receive their hardware devices until 2024.

In a groundbreaking move, Block, spearheaded by former Twitter CEO Jack Dorsey, has unveiled Bitkey, a secure and user-friendly Bitcoin hardware wallet.

Priced at $150, Bitkey is available for pre-order in over 95 countries, marking a significant stride in global accessibility. This strategic move aligns with Dorsey’s steadfast commitment to advocating for Bitcoin and its transformative potential in digital transactions.

Bitkey hardware wallet

Block’s latest venture, Bitkey, emerges as a cutting-edge Bitcoin hardware wallet designed to meet the growing demand for secure and accessible cryptocurrency storage.

With a global reach covering more than 95 countries, the device positions itself as a pivotal player in the push for Bitcoin adoption on a worldwide scale. The inclusion of essential recovery tools, a charging cable, and a compatible mobile app further enhance the utility of Bitkey.

Block’s global expansion

Under Jack Dorsey’s leadership, Block strategically targets key markets, including the United States, Canada, the United Kingdom, Nigeria, Argentina, Mexico, and India. These regions are identified as having significant potential for long-term Bitcoin savings and cross-border payments.

Dorsey’s vision extends beyond commercial success, emphasizing Bitcoin’s role in democratizing financial access globally. Bitkey’s availability in diverse regions aligns with this vision, showcasing Block’s commitment to addressing payment and economic challenges on a global scale.

While Block’s primary revenue streams stem from Cash App and Square business payment solutions, the introduction of Bitkey underscores Jack Dorsey’s unwavering commitment to Bitcoin. This commitment is rooted in a belief that Bitcoin serves as a tool to democratize financial access, particularly in developing countries.

Block’s journey, from its integration of Bitcoin into Cash App in 2018 to the launch of Bitkey, signifies a calculated and purposeful approach to advancing the adoption and impact of Bitcoin in the world of digital finance.

The post Jack Dorsey’s company, Block, launches Bitkey Bitcoin hardware wallet appeared first on CoinJournal.

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Solana’s likely surge to $100 and what it means for BONK and Memeinator

  • Solana price is up 30% in 24 hours as bulls look to strengthen above $70.
  • Meanwhile, Bonk (BONK) has hit a new all-time high amid the bullish SOL outlook.
  • Is the Memeinator (MMTR) likely to benefit from a resurgence in meme coins like Bonk? 

Solana traded to above $72 on Friday morning, with SOL price gaining more than 13% in the past 24 hours to pierce a level last seen in May 2022.  Solana’s price was hovering at 19-month highs, with bulls boasting a more than 800% spike since SOL flipped higher from lows of $8 in late December 2022.

Could this surge for SOL cascade to Solana ecosystem meme coin Bonk (BONK)? What would a surging BONK mean for Memeinator (MMTR)?

Solana (SOL) price could surge to $100 in coming weeks

Analysts are predicting the 6th ranked cryptocurrency could continue an upside trajectory towards the $100 mark. 

A look at the charts shows SOL/USD has notched 7 green weekly candles out of the last 8, and on the monthly chart, its four consecutive greens for the first time since SOL rallied higher with five straight greens from July to November 2021.

Solana price on the weekly chart. Source: TradingView

With buy-side pressure likely to mount amid key network growth and price action, the former BitMEX CEO Arthur Hayes’ bullish call for Solana to $100 could be on the cards. While that may not happen this weekend, strengthening above $70 could bulls the foundation to assault the higher levels.

If bears manage to poke their nose into bulls’ business in the short term, then a bearish retest of support could be possible for the range of $60-$55. Below that is the $50 level which will likely act as a robust support area.

Bonk (BONK)  – Solana-based meme just hit new ATH

Bonk (BONK) is a Solana-based dog-themed meme coin that has seen significant gains over the past few weeks. Within the Solana ecosystem, BONK stands out as one of the top performing coins, rising over 200% in the past week.

Over the past 30 days, this meme token has jumped over 1,000%. The past 24 hours have seen BONK rise 30%, hitting an all-time high of $0.00001224 on December 8. This came as trading volume reached $200 million and up 137% in the last 24 hours.

BONK was launched last year and struggled for any community traction as the meme coin space experienced a dip. However, with interest in Solana rising over the past few months as investors took positions around the layer 1 blockchain, BONK benefited.

Should the bullish sentiment around Solana continue, and meme coins like Dogecoin, Shiba Inu signal a return of the meme coin glory days, BONK price could take a few zeros off the price level.

Memeinator price prediction – will MMTR catch the meme coin resurgence?

The Memeinator (MMTR) is a new meme token looking to leverage artificial intelligence (AI) in the quest to emerge as the top meme coin. While the token has yet to launch, its presale is attracting a lot of attention from investors.

Memeinator’s whitepaper highlights potential utility via gaming, non-fungible tokens (NFTs), decentralised applications (dApps) integration and staking. As alluded to on the presale page, the MMTR is a token designed to clean the meme coin world by targeting weak meme tokens.

The project hopes to capture a $1 billion market cap by overtaking low or no utility. This has the investor community primed, with a resurgence in meme coins like Pepe, Bonk and Floki likely the reason the Memeinator presale has raised over $1.75 million already.

Recent updates like a massive 129 million MMTR burn and launch of staking is likely to see further interest as the presale moves towards a close.

Once it launches on major exchanges, the price of Memeinator could rise significantly, with buyers who get in at the current $0.014 price potentially adding to the 250% increase the token will see through the remaining presale stages as it rises to $0.049.  

If market conditions align for a bullish rally in 2024 when MMTR launches, this token could target $0.1 in the year and $0.5 to $1 by end of 2025.

Find out more before you invest on the Memeinator social media pages or their website.

The post Solana’s likely surge to $100 and what it means for BONK and Memeinator appeared first on CoinJournal.

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Uphold launches self-custody wallet with initial support for XRP

  • Vault will make self-custody of crypto easier for the average user, Uphold said in a press release.
  • The wallet combines on-chain security of complete self-custody with the convenience of CeFi applications.
  • The wallet has a key replacement feature that allows users to recover access if they lose private keys.

Uphold has announced the beta launch of a self-custody wallet dubbed Vault, with the first cryptocurrency supported being Ripple’s XRP.

Uphold launches self-custody wallet

In an announcement on Thursday, the crypto platform said Vault will be an “assisted self-custody wallet.” Other than simplifying the secure storage of digital assets, will offer users the convenience of centralised financial (CeFi) and on-chain security of complete self-custody.

“We want to radically redefine self-custody for the average user,” Uphold CEO Simon McLoughlin said in a statement.

“Until now, no one has offered self-custody that is practical for the ordinary user. With Vault, we’ve stripped away the complexity to give users full control over their assets, without sacrificing the benefit of easy trading on a centralized platform,” he added.

Vault is a multi-signature wallet, with the user holding two of the keys to maintain full control of their funds, while Uphold holds the other key to co-sign “user-initiated transactions.” The wallet also supports key replacement, a service that allows users to recover access to their wallets if they lose their private keys.

According to Uphold, Vault will be available at a fee of $50 per year and feature instant trading and Vault Assist Tool – which would mean a user can move their assets on-chain if they lose access to their Uphold app.

“Vault enables individuals to have ownership and control over their digital assets, and navigate the emerging web3 world with autonomy, security and certainty,” Stephen McNamara, CEO of Uphold Labs, noted.

While Vault is set to support XRP as the initial asset, the company plans to expand to other chains in 2024. Uphold says it will add Bitcoin (BTC) in the first quarter.

The post Uphold launches self-custody wallet with initial support for XRP appeared first on CoinJournal.

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Binance announces Jito (JTO) listing with Seed Tag and Isolated Margin pairs

  • Jito (JTO) listing on Binance.
  • Binance adds Jito (JTO) as a borrowable asset in the Isolated Margin category.
  • JTO spot trading is tentatively scheduled to start on December 7, 2023, at 16:00 (UTC).

Binance, a leading cryptocurrency exchange, has unveiled plans to list Jito (JTO), the governance token of the Jito network. The announcement brings exciting developments, including new spot trading pairs, an applied Seed Tag, and the addition of JTO as a borrowable asset in Isolated Margin.

This move follows Coinbase’s earlier support for Jito on the Solana network, signifying growing recognition for the token across major platforms just days after the Jito Foundation announced its launch.

JTO spot trading pairs on Binance

Binance has set the stage for the listing of Jito (JTO) with the introduction of spot trading pairs: JTO/USDT, JTO/FDUSD, and JTO/TRY.

Trading for these pairs is tentatively scheduled to commence on December 7, 2023, at 16:00 (UTC).

The announcement emphasizes the significance of JTO’s Seed Tag, symbolizing its innovative nature and the potential for increased volatility compared to other listed tokens.

Traders can deposit JTO now, with withdrawals becoming available on December 8, 2023, at 16:00 (UTC).

In a bid to enhance trading opportunities, Binance is adding JTO as a borrowable asset within the Isolated Margin framework. A new margin pair, JTO/USDT, is set to be introduced within 48 hours from December 7, 2023, at 16:00 (UTC). This move aims to diversify trading strategies and provide users with additional options within the Isolated Margin category.

What is Jito (JTO)?

Jito (JTO) is the governance token for the Jito network, offering Solana liquid staking services.

With an open-source Solana validator client, stakers can earn rewards through Solana staking and address Maximal Extractable Value (MEV) using advanced MEV software.

In the listing announcement, Binance has taken the pain of cautioning its users about the relatively new nature of JTO, exposing it to higher risks and potential price fluctuations. The crypto exchange emphasizes the importance of sound risk management practices before engaging in JTO trading activities.

The post Binance announces Jito (JTO) listing with Seed Tag and Isolated Margin pairs appeared first on CoinJournal.