Kategorie: Crypto Business

• OKX President Hong Fang said in a press release that the expansion is a big step towards empowering users.
• The exchange expects the new office in place over coming months.
• OKX was founded in 2017 and offers spot, margin and derivatives trading for its customers across the world.

OKX, one of the largest crypto exchange platforms and a leading Web3 company, plans to expand its global presence with a new office in Turkey.

The Seychelles-based crypto platform was founded in 2017 and has grown to become one of the best crypto exchanges in the world. The firm has millions of customers and offers access to spot, margin and derivatives markets for hundreds of crypto tokens. The company also offers DeFi, gaming dApps and an NFT marketplace.

In the press release published on Monday, OKX said it plans to have the office in operation in coming months.

“Opening an office in Türkiye will be a crucial step for OKX as we move from a trust-based system to one that is trustless and empowers users to take control of their financial future. Türkiye is an important market for us, and we’re excited to build strong relationships with our users and contribute to the development of its crypto ecosystem,” OKX President Hong Fang said in a statement.

OKX execs to speak at Blockchain Economy Istanbul Summit 2023

The OKX team revealed the plans ahead of the Blockchain Economy Istanbul Summit 2023, with the exchange being a Title Sponsor and Premium Partner. The company’s President Hong Fang, Chief Innovation Officer Jason Lau and Chief Marketing Officer Haider Rafique are set to be keynote speakers and panelists at the summit expected to run from 8-11 May, 2023.

The summit is Eurasia’s largest blockchain event and the 8th edition in Istanbul will feature various crypto industry players, including investors, entrepreneurs and developers. Key topics will include Web3 and blockchain innovation.

Crypto ownership in Turkey has increased in the last few years, with the country currently home to over 13.6 million crypto owners. According to estimates, that’s 16% of Turkey’s population – making the country one of those with the largest number of people owning cryptocurrencies.

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• Coinbase is a US-based crypto exchange.
• The move comes amid a growing regulatory crackdown in the US for the cryptocurrency industry.
• The new arm will allow users to trade perpetual futures, with initial contracts offering 5x leverage.

Coinbase, a leading cryptocurrency exchange in the United States, has launched an international cryptocurrency exchange as a response to the increasing crypto regulatory crackdown in the US.

The move is part of the exchange’s strategy to execute “the next chapter of the company’s Go Deep, Go Broad global expansion strategy.”

Eyeing the global market

The Coinbase International Exchange will allow institutional users from eligible jurisdictions outside the US to trade perpetual futures.

In 2022, perpetual futures accounted for about 75% of global cryptocurrency trading. They created highly-liquid markets and offered traders additional versatility in their crypto trading strategies.

Coinbase in a blog post stated:

“Building out a global perpetual futures exchange for digital assets will help support an updating of the financial system by making Coinbase’s trusted products and services more accessible to users of digital assets who live outside of the US. As more and more markets are moving forward with regulatory frameworks to become crypto hubs, we believe the moment is right to launch this international exchange.”

Currently, the Coinbase International Exchange has listed Bitcoin (BTC) and Ethereum (ETH) perpetual futures contracts. The listed contracts initially offer up to 5x leverage.

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• Sweat Economy (SWEAT) has launched the “Sweat Wanderer” prize draw that is open to all up to 14 May 2023.
• Registering and staking at least 25 SWEAT tokens via the Sweat Wallet app will see users eligible to win an all-expenses paid global tour to see the Seven Wonders of the World.
• The winner, to be announced on Monday 15 May 2023, will also receive $2000 to spend.

Sweatcoin, a health and fitness app that seeks to encourage healthier living through rewards for daily physical activities, has announced a new prize draw that will see the winner “travel the world.”

The Sweat Economy app was the top downloaded health and fitness app in the world in 2022 with over 65 million downloads.

Sweat Economy prize offers all-expense paid global tour

Dubbed “Sweat Wanderer,” the draw is open till 14 May 2023 and will see the winning participant get a chance to explore the Seven Wonders of the World. The all-expenses paid trip will last a month, the Sweat Economy team said in a blog post published 2 May 2023.

According to the platform, the global tour will be for two (winner and a person of their choice) with flights and accommodation covered. The prize also includes $2,000 in cash as spending money.

To participate, one needs access to Sweatcoin and the Sweat Wallet app and complete a registration process.

Once you opt-in to the crypto section of the wallet app, you need to “stake” at least 25 SWEAT tokens to be eligible for the Sweat Wanderer prize. After that, all one has to do is take and share photos and videos online, as well as be open to an interview discussing experiences.

The “Sweat Wanderer” winner will be unveiled on Monday, 15 May 2023 at 2pm UTC.

Sweat Economy (SWEAT) price

Sweatcoin launched in 2016 before going on to unveil its SWEAT token in September 2022 ( it had a record airdrop) to help incentivize users in a Move-to-Earn (M2E) ecosystem. SWEAT allows for real-world transactions and prizes in this growing Web3 economy.

The platform raised $13 million in its private token sale in July 2022, led by Spartan Capital and Electric Capital among others. In March 2023, the team revealed plans to relaunch SWEAT in the US.

The price of SWEAT reached a high of $0.091476 in September 2022, but currently hovers around $0.00834872 after declining more than 90% during the crypto winter. The circulating supply was 5,797,310,970 at the time of writing, while total supply is 22,473,969,566 (data from CoinGecko).

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• Venmo will roll out a new crypto transfer feature in May, allowing customers to send crypto to other Venmo accounts.
• Customers will also be able to buy tokens and send them to PayPal, external wallets and exchanges.
• Users will also be able to use a unique wallet address QR code to receive crypto from other people.

Mobile payments app Venmo has announced that its customers will from May 2023 be able to buy crypto using their account and transfer these to family and friends on Venmo.

Venmo, whose parent company is PayPal, revealed this as it outlined a new feature on Friday.

Making it easy for customers to move crypto

According to a press release Venmo published on 28 April, the new functionality is part of the company’s effort to make it easier for customers to manage and move crypto.

Dropping in to announce a new feature of ours: crypto transfers⚡Get started now. https://t.co/R9QtUENfae pic.twitter.com/UoeEAWVhlz

— Venmo (@Venmo) April 28, 2023

Other than being able to send crypto to other Venmo users, customers will also be able to send cryptocurrencies to PayPal accounts, external wallets and exchanges within the digital asset ecosystem. Any Venmo customer can navigate to the Receive page to access a unique digital asset address QR code. Customers can share this QR code with others when looking to receive funds.

According to details shared in the news release, the crypto transfers feature will be available to Venmo users beginning May 2023.

Venmo introduced crypto purchases for its customers in April 2021, and is a popular mobile app for those looking to buy Bitcoin. The platform added support for crypto price alerts in November 2021, allowing for push notifications for price alerts of Bitcoin, Ethereum, Bitcoin Cash and Litecoin. 

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• Mastercard is looking to help bring defined standards to the blockchain and Web3 ecosystems.
• The company is partnering blockchain platforms Polygon, Solana, Aptos Labs, and Ava Labs, on the common standards program it calls Mastercard Crypto Credential.
• Mastercard will also work with wallet providers Uphold, Bit2Me, Lirium, and Mercado Bitcoin on the program.

Mastercard is partnering with several blockchain platforms in a bid to develop a new set of crypto standards aimed to boost the industry’s overall trust score.

In an announcement at Consensus 2023 on Friday, the payments firms said it was teaming up with Polygon, Aptos Labs, Solana Foundation and Ava Labs, to develop the Crypto Credential.

At #Consensus23, we announced how we are instilling trust in the blockchain ecosystem through Mastercard Crypto Credential. With crypto wallet providers @Bit2Me_Global, @LiriumAG , @MercadoBitcoin and @UpholdInc and public blockchain network organizations @AptosLabs,… pic.twitter.com/P33mtDVAas

— Mastercard News (@MastercardNews) April 28, 2023

According to the company, the Mastercard Crypto Credential is an effort targeted at incorporating the best of common standards into the crypto infrastructure and broader space providers to help instill trust in crypto from consumers, businesses and governments.

Raj Dhamodharan, the head of crypto at Mastercard noted in a statement that building trust is a crucial step for the blockchain ecosystem as it looks towards mainstream adoption. Crypto Credential, he noted, is one way of pushing for “trusted, compliant, and verifiable” blockchain interactions.

“With Mastercard Crypto Credential, we can help ensure that those interested in interacting across Web3 environments are meeting defined standards for the types of activities they’d like to pursue. Mastercard Crypto Credential will not only define verification standards and levels, but also provide necessary enabling technology to help bring more use cases to life” he added.

Standards for verification in NFTs

The common standards being advocated for will also help with instilling trust in NFTs, with the partners collaborating towards enhancing verification in NFTs. Mastercard will also work with blockchain firms around verification in ticketing and other payments solutions.

Solana, Polygon, Aptos Labs and Ava Labs are set to aid in having the new crypto standards available to and applied by developers within their ecosystems.

Other than that, crypto wallet providers Lirium, Uphold, Mercado Bitcoin and Bit2Me will look to tap into the standards for their cross border transfers. The platforms will initially focus on crypto payments and remittances within the United States, Latin America and the Caribbean corridors.

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