Kategorie: Crypto Markets

• 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.

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• 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.

We’re excited to announce people in 95+ countries can now pre-order Bitkey!

Bitkey is the self-custody bitcoin wallet with an app to send on the go, hardware to protect your savings, and recovery tools in case you lose your phone, or hardware, or both. https://t.co/OR60vH6InG pic.twitter.com/5UbjkhePc3

— Bitkey (@Bitkeyofficial) December 7, 2023

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.

• 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.

• 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.

• Helium Mobile, introduces unlimited data, text, and calls at just $20 per month.
• Leveraging the Helium Network on the Solana blockchain and a nationwide 5G network, Helium Mobile empowers users to set up decentralized ‘mini cell towers.’
• Helium Mobile has a strategic partnership with T-Mobile.

Helium Mobile, the pioneer in crypto carriers, has launched a groundbreaking nationwide plan in the United States.

Offering unlimited data, text, and calls for just $20 a month, this innovative mobile service merges the Helium Network, based on the Solana blockchain, with a nationwide 5G network.

Helium Mobile’s nationwide plan

Priced at an affordable $20 per month, the Helium Mobile plan provides users with unlimited data, text, and calls.

This move comes after a successful limited trial conducted in Miami earlier this year, showcasing the viability of Helium Mobile’s innovative approach to mobile services.

At the heart of Helium Mobile’s offering is the integration of the Helium Network, an Internet-of-Things project anchored on the Solana blockchain, with a robust nationwide 5G network. Users can become builders of their own network by setting up Helium Mobile Hotspots, acting as ‘mini cell towers’ to expand coverage.

This decentralized approach aims to eliminate dead zones, transforming the way users experience mobile connectivity.

Despite the ambitious plan, Helium Mobile faces questions regarding its revenue model. Investors have scrutinized the profitability of the Helium Network, which generated only $6651 in revenue from its wireless network in June 2022.

To address coverage gaps, Helium collaborates with T-Mobile, with Helium paying T-Mobile for backup coverage.

All in all, this groundbreaking initiative by Helium Mobile marks a significant step in the convergence of blockchain and telecommunications, potentially reshaping the future of mobile communication.

Helium Network native token, HNT, surge

Riding on the news, Helium (HNT), the native cryptocurrency of Helium Network which is at the heart of Helium Mobile, has surged by 27% to trade at 5.24 at press time.

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