Kategorie: Crypto Markets

• Shinhan Bank and Siam Commercial Bank’s SCB TechX recorded real-time, low-cost remittances.
• The pilot on the Hedera network involved cross-border stablecoin payments using South Korean won (KRW), the Thai Baht (THB), and the New Taiwan dollar (NTD).

Shinhan Bank and Siam Commercial Bank’s SCB TechX have reportedly completed a proof-of-concept (PoC) pilot for stablecoin remittances on the Hedera network.

This was the second PoC test on Hedera’s distributed ledger network after the initial program launched in 2021 and which involved Standard Bank. In this latest pilot, the company sought to check on the efficiency, cost and settlement speed of cross-border payments.

1/ In a continuation of their work on #DLT-enabled cross-border remittances, @ShinhanBankENG – in collaboration with SCB TechX & other financial institutions – has today announced the successful completion of a #stablecoin remittances PoC pilot on #Hedera.https://t.co/OUAxOfU2U4

— Hedera (@hedera) July 18, 2023

According to details shared in a press release, the banks achieved real-time foreign exchange settlement across three currencies – the South Korean won (KRW), the Thai Baht (THB), and the New Taiwan dollar (NTD).

 Shinhan Bank’s Chief of Blockchain division Byunghee Kim said in a statement:

“The successful completion of this second PoC marks an important step forward in our efforts to make cross-border payments faster, cheaper, and more accessible to people around the world… With this next phase of PoC, we are pleased to have demonstrated how the use of Hedera’s EVM-compatible technology helps eliminate intermediaries, reduce costs, and speed up the remittance process.”

EVM-compatibility for the PoC means the system will be open to any EVM-based stablecoin issuers, with this likely to also see more banks and other financial institutions tap into its potential as the cross-border payments ecosystem expands.

The post Shinhan Bank, SCB TechX pilot cross-border stablecoin payments on the Hedera appeared first on CoinJournal.

• Ripple invested in the $54 million series A round for Futureverse. 
• 10T Holdings led the funding round, which Futureverse says will go into scaling AI and metaverse technologies.
• Ripple has integrated Futureverse blockchain The Root Network and will see use of XRP as gas token.

Futureverse, a company leveraging artificial intelligence (AI) and metaverse technology to advance growth in the gaming industry, has closed a $54 million series A funding round.

The round was led by 10T Holdings, a leading late stage growth equity fund, and attracted the participation of Ripple. Futureverse plans to deploy the funds towards initiatives targeted at scaling AI and metaverse technologies.

Per today’s announcement, the company plans to tap into the partnership with 10T and Ripple “to take the metaverse from an abstract idea to a practical, accessible, and interactive destination.”

Futureverse’s AI-metaverse ecosystem

Futureverse has plans to become the world’s largest metaverse AI technology provider, layer 1 architect and creative studio. According to the company, this goal includes creating tools that support an open, scalable and interoperable infrastructure.

It is a goal that has seen it quietly roll up 11 startups into one ecosystem that’s currently among the largest collaborative ecosystems for the metaverse. Some of these companies include AI-protocol Altered State Machine, creative studio Non-Fungible Labs, decentralized communications protocol Sylo, and digital asset payments SDK Centrapay.

As part of the push to form a leading metaverse community, including for AI gaming powered by digital collectibles, Futureverse recently partnered with FIFA to launch an AI-powered consumer game dubbed AI League. 

The company also has a partnership with Muhammad Ali Enterprises in a deal set to see them launch “Muhammad Ali – The Next Legends”,  which will become the first-ever AI-powered boxing game.

Partnership with The Root Network and Ripple

As well as other key collaborations, Futureverse is looking to tap into the benefits of blockchain technology via the integration of its The Root Network and Ripple’s XRPL. 

The Root Network is a blockchain and suite of protocols offering ready-made runtimes. Developers will be able to tap into this platform to build next-generation metaverse apps and games, the company noted.

The integration with XRPL allows for XRP to be used as a gas token and the XLS-20 NFT standard, the two companies said in a statement. And in a comment, Monica Long, president of Ripple, said:

“We are excited to continue to support the Futureverse vision and celebrate the Root Network’s integration with the XRP Ledger. While we’re at the earliest stages of what a project like this — and really the larger concept of the metaverse — can achieve, we at Ripple are thrilled to contribute to the foundational infrastructure layer and provide real utility to the end users of the open metaverse.”

The post Ripple invests in $54M round for AI-metaverse firm Futureverse appeared first on CoinJournal.

• 1inch price is down 16% at the time of writing after paring all 24-hour gains from above $0.59.

• The 1INCH token saw massive 24-hour trading volume on Korean exchange Upbit.
• On the technical side, 1INCH is poised above a key support area around $0.34.

The price of 1inch token (1INCH) pumped in early trading hours Monday, reaching highs of $0.59. However, just as quickly as it rose from lows of $0.39, the 1INCH price pared the gains and traded to $0.36.

According to data from CoinGecko, 1inch is down 16% in the past 24 hours as of time of writing, with a look at the weekly time frame showing the token has cut recent gains to just 21%. 

This contrasts with the explosive action that characterized the 1INCH market following Ripple’s partial win in its ongoing regulatory battle with the US Securities and Exchange Commission (SEC).

1INCH price outlook- what next?

Like XRP, which pumped more than 100% in the aftermath of Judge Analisa Torres’ ruling last week, 1inch price was mainly boosted by huge volume on the South Korean crypto exchange Upbit. Indeed, in the past 24 hours, the coin’s trading volume on the Upbit exchange hovered at around 31% of total daily volume.

Yet, trading volume has declined from more than $670 million on Monday to about $120 million at the time of writing – representing an 83% dip in the past 24 hours. As to why 1INCH price is down today, we see an overall negative flip for major cryptocurrencies led by Bitcoin’s fall below $30k and Ethereum’s struggles near $1.9k.

Altcoins, including XRP, BNB and Solana also pared recent gains today. The downward pressure comes as bankrupt crypto lender Celsius Network moved millions of dollars’ worth of altcoins to exchanges for liquidation and conversion into BTC and ETH.[Read more]

1inch token is among those the platform moved to FalconX on Monday in preparation for offloading.

 1inch price on the daily chart.Source: TradingViewIf we look at the technical picture as suggested in the chart above, we have the daily RSI dipping near the equilibrium point to suggest bears could still take a swipe at bulls. 1INCH is also in danger of retreating to the 50-day exponential moving average.

The moving average currently offers a buffer zone near $0.34. On the upside, 1INCH is facing long term resistance as signaled by the 200-day EMA – currently at $0.45 after the coin’s dip from above $0.59.

The post 1inch price outlook as bulls give up XRP-fueled gains appeared first on CoinJournal.

• Users can leverage LayerZero’s Ultra Light Nodes (ULNs) to lend assets across any blockchain.
• The integration also means borrowing and lending on LEND Finance is easy and cost-effective, all with single click capability.
• LEND Finance says it settled on LayerZero after Multichain shuttered its operations.

Cross-chain lending protocol LEND Finance has announced an exclusive integration with omnichain interoperability platform LayerZero.

The LayerZero team said in a blog post that the decision to choose the “omnichain interoperability protocol,” was down to its innovative and lightweight cross-chain messaging. The original plan was to launch LEND with cross-chain protocol router Multichain, the platform that recently announced it was shuttering its operations.

As CoinJournal reported last week, Multichain said it had come to the unfortunate decision of shutting shop after events that left the team with funds and access to key servers. Multichain founder and CEO as well as his sister have reportedly been detained in China.

LEND, LayerZero to streamline cross-chain lending

In its announcement on Tuesday July 18, LEND Finance said the partnership “brings fresh possibilities to the complex field of cross-chain lending.” 

Specifically, LEND will tap into LayerZero’s Ultra Light Nodes (ULNs) to make it easy and cost-effective for its users.

Exciting News! 🎉 @LEND_finance is proud to announce our integration with @LayerZero_Labs!

Their pioneering omnichain interoperability protocol takes cross-chain lending to a whole new level!

/1 🧵👇 pic.twitter.com/7gMq8BPJ0A

— LEND.finance (@LEND_finance) July 18, 2023

According to LEND Finance, the integration allows its users to borrow and lend assets on any chain. Users will also be able to move to the most favaourable rates with just one click. The functionality will increase efficiency of the lending and borrowing process, with ecosystem users getting the added benefit of maximized DeFi earnings.

For instance, borrowers can leverage LayerZero’s ULNs for cross-chain messages, with instant access to liquidity on any chain all made possible with a single-click functionality. The overall benefit of this is the streamlined lending process that also comes with security checks.

The post LEND Finance announces integration with LayerZero appeared first on CoinJournal.

• The NFT collection will unlock opportunities for lovers of animated films, starting with Legend of Two Heroes.
• CROWN Token’s NFTs will be available on the platform’s ADOT NFT marketplace.
• The Legend of the Two Heroes NFT series features 590 NFT mints from 39 NFTs.

CROWN Token Project, a Web3 platform that bridges the traditional IPs market with blockchain, has launched its first non-fungible token (NFT) collection.

The NFTs debut is on ADOT, the CROWN Token’s own NFT marketplace, and will roll out with a limited-edition of the animated film Legend of the Two Heroes.

According to a press release shared with CoinJournal on Tuesday, July 18, the NFT series will showcase characters from the $15 million budget film from Hong Kong director Hernan Yau and renowned screenwriter Robert Lence. 

Toy Story, Beauty and the Beast and Shrek are some of the feature masterpieces to incorporate Lence’s scripts.

590 mints across 39 NFTs

While Legend of the Two Heroes is in post-production and is scheduled for global release early next year, CROWN Token says its NFT series on the feature film will be open for minting beginning July 19, 2023. The timing of the mint will see NFT holders included in the film’s creation, right from ideation to release on the big screen.

Pan Lorattawut, CEO of VUCA Digital which manages the CROWN Token Project, said:

“It’s exciting to see this project with our ADOT marketplace come to life. We want NFT holders to be involved in the animated action film’s creation in every possible way. This is one of the ways we not only reward our ecosystem, but continue to expand the benefits of IPs.”

The limited NFT series will allow for 590 mints spread across 39 NFTs, with each NFT having 15 mints. Meanwhile, there will also be 5 rare NFTs each of which will have only 1 mint. Collectors can only buy the rare NFTs with CROWN Token, the platform said.

The top three main characters in the film to feature in the NFTs will later be added to an upcoming MMO role-playing game.

CROWN Token Project expects its ADOT Marketplace to experience growth in coming years, with the utility of its token expanding as a result. CROWN Token is a crypto project by VUCA Digital, a blockchain consulting firm affiliated to IP management firm T&B Media Global.

The post CROWN Token Project launches limited-edition NFTs on ADOT marketplace appeared first on CoinJournal.