Schlagwort: crypto business

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Wave Financial unveils ADA Yield Fund to support Cardano’s DeFi ecosystem

The ADA Yield Fund starts off with $100 million and will benefit Cardano’s growing decentralised finance (DeFi) ecosystem via liquidity and other resources.

Wave Financial has announced the launch of Wave ADA Yield Fund, a $100 million fund aimed at supporting the Cardano (ADA) blockchain ecosystem.

According to Wave Financial CEO David Siemer, the fund is purely meant for the provision of liquidity and targets decentralised exchanges (DEXs), lending protocols and stablecoin issuers. The fund will also support stake pools in the Cardano DeFi ecosystem.

“Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem,” Siemer said in a press release shared with CoinJournal on Wednesday.

Wave is a Los Angeles-based digital asset investment manager regulated by the US Securities and Exchanges Commission (SEC). The company says the fund is a reflection of its goals in the crypto ecosystem, including support for promising entrepreneurs.  

Cardano’s growing ecosystem is attracting institutional investors

Cardano launched smart contracts capability in 2021 and has over the past several months, seen an explosion of developer activity.  Hundreds have launched via community funding initiatives, according to Charles Hoskinson, the founder of Input Output (IOHK)

But more are at various stages of development, with the ADA fund likely to prove a timely launch. Hoskinson agrees with the sentiment, noting in a statement that the Cardano ecosystem will succeed if projects built on the blockchain thrive.

“So we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance,” he added.

Cardano continues to see huge interest from institutional investors, with demand driving on-chain large transaction volumes even higher. Data shows that year-to-date, transactions involving $100k or more in ADA have spiked nearly 50x.

Demand has also seen the launch of ADA-backed exchange-traded products to cater to institutional investors. Just this week, WisdomTree launched a Cardano ETP for the European market.

The post Wave Financial unveils ADA Yield Fund to support Cardano’s DeFi ecosystem appeared first on Coin Journal.

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ECB is open to ‘simplified AML/CFT checks’ for small digital euro payments, official says

ECB Executive Board Member Fabio Panetta’s remarks come just a day to an EU vote likely to introduce KYC/AML checks for all crypto transactions.

The European Central Bank is still considering a central bank digital currency (CBDC) – a digital euro. There has been progress in the project, with consultations taking place since 2020 and gathering speed in recent months.

One of the key concerns remains the “trade-offs” between the need for privacy and adherence to EU financial regulations and policies. While the ECB wants to see greater regulatory compliance, an official has told lawmakers that the rollout of the proposed digital euro could allow for “some degree of privacy” for users.

Still no ‘full anonymity’

Digital euro users will need to comply with know-your-customer (KYC) checks as well adhere to anti-money laundering (AML) regulations. 

However, these requirements might not be cast in stone when it comes to small payments, ECB Executive Board Member Fabio Panetta said on Wednesday.

“Full anonymity is not a viable option from a public policy perspective,” Panetta told the EU parliament’s Economic and Monetary Affairs Committee.

According to Panetta, allowing for complete privacy using the central bank’s digital currency would open the system risks of illicit transactions.

“In addition, it would make it virtually impossible to limit the use of the digital euro as a form of investment,” he added.

‘Simplified AML/CFT’ for small payments

To safeguard financial stability, prohibiting anonymous transactions is essential, the ECB exec explained. But there could yet be a slight ‘break’ from the anti-money laundering and combating of terrorism financing (CFT) norms- if the amounts involved were low value.

“A greater degree of privacy could be considered for lower-value online and offline payments,” Panetta said in a speech he delivered on Wednesday. “These payments could be subject to simplified AML/CFT checks, while higher-value transactions would remain subject to the standard controls,” he added.

The ECB official’s remarks come just a day before EU lawmakers vote on a proposal seeking to remove anonymous crypto payments- even for small transactions. The vote is expected on Thursday. 

If passed, it would mean every crypto transaction would have to adhere to KYC, AML and CFT checks.

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Kucoin: 44% of Germans are ‘motivated’ toward crypto investing

  • KuCoin’s Into the Cryptoverse 2022 report shows that nearly half of the German population sees crypto as part of “the future of finance.”
  • 35% of investors do it for passive income.
  • More women are showing curiosity in 2022, with 53% of those showing interest.

A recent report by global crypto exchange KuCoin suggests that 44% of Germans are “motivated” toward cryptocurrencies as an investment.

This percentage of the population also believes cryptocurrency is the “future of finance”, the exchange noted in its ‘Into The Cryptoverse 2022’ report.

16% of Germans aged 18-60 own or trade crypto

 The insights gleaned from the study are reflective of Germany’s “set of clear rules applicable to cryptocurrencies,” a summary of the report indicated.

Notably, Germany was the first country to recognise Bitcoin as a “unit of value,” classifiable as a “financial instrument.” That happened in 2013 and is a development that appears to have had a big impact on adoption rates in the country.

As a result of regulatory developments, 44% of respondents said they are looking to buy and invest in crypto. Per the report, almost half of the population is convinced crypto is going to be the future of finance.

16% of Germans aged 18-60 own cryptocurrencies or have traded them over the past six months, with 41% of these investors planning to increase their investments in 2022. A further 13% are said to be crypto-curious.

In terms of gender, men account for 69% of cryptocurrency investors, while 53% of the crypto-curious are women.

Overall, 77% of these ‘crypto-curious’ investors are reportedly looking into potential digital assets to buy. According to KuCoin, this is a statistic that points to the very high levels of crypto literacy in the country.

Staking and lending top investment products

The report suggests that the growing adoption of crypto investment in Germany is down to the growing appeal of digital assets as a source of passive income. And this ability to generate returns on crypto investments is seeing cryptocurrency investing going mainstream in the country.

Per the study, 35% of investors take positions for passive income opportunities. Meanwhile, 30% see crypto as a reliable store of value and 29% say crypto assets provide a means to financial independence.

In terms of specific investments for passive income, an average of 24% of investors prefer staking crypto to holding bank savings accounts. Crypto lending comes next at 13%.

The report on Germany is the second in KuCoin’s Into The Cryptoverse 2022 lineup, coming after Turkey. The exchange plans to release further reports throughout 2022.  

Global trends on ownership and usage of crypto for 2021 showed that Nigeria topped the global charts, with Singapore, Thailand and the Philipines also up there. Asia, Africa, and South America are showing the fastest growth.

The post Kucoin: 44% of Germans are ‘motivated’ toward crypto investing appeared first on Coin Journal.

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Highlights March 30: Major cryptos down, AAVE, Chiliz, STEPN rally

The biggest cryptos registered minor losses over the past 24 hours. Crypto companies in the UK that have yet to receive regulatory approval may look to move their operations elsewhere as the government deadline is only two days away.

US indices closed higher yesterday on hopes of a ceasefire between Russia and Ukraine, with Moscow pledging to cut back operations near the Ukrainian capital. Tech stocks were among the biggest gainers on the NASDAQ100 (+1.84%).

Top cryptos

Standing out among the losers were Cardano and Avalanche, both down close to 3%. Bitcoin was trading above $47,000 at the time of writing, down less than 1% over the past 24 hours.Terra and Near Protocol were notable exceptions to the bearish trend, up 3% and 8%. 

Top movers

The market was generally mixed outside the top 20. Zilliqa’s bull run continues in advance of its metaverse’s launch at the beginning of April. ZIL is up 42% today. 

Other winners include VeChain (+11%), AAVE, Chiliz, and STEPN (GMT). GMT has been rallying since it was listed on Binance at the beginning of March 2022. 

It gained 70% on news of a mysterious but important upcoming partnership between STEPN and an unknown entity, believed to be Binance.

Lionel Messi and fan token platform Socios signed a multimillion-dollar deal for the football legend to become the platform’s global brand ambassador. 

Chiliz soared in response. The platform, which powers Socios, added 21% to its value on the news of the high-profile partnership.

Lending protocol Aave’s token AAVE added more than four-fifths to its value since its V3 upgrade two weeks ago. It includes improvements in decentralization, security, interoperability, and risk control. AAVE is up 30% today.

Trending

Today’s biggest gainer is Pyroblock (PYR), a BSC token associated with collectible hand-drawn NFTs. Each NFT card block has its own rarity index. You must own PYR to buy NFTs. 

You earn rewards by staking NFT cards, which can provide high yields. PYR is up around 2,000% in 24 hours. 

The post Highlights March 30: Major cryptos down, AAVE, Chiliz, STEPN rally appeared first on Coin Journal.

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You can now buy Chiliz, which soared on Messi deal with Socios: here’s where

Lionel Messi and Socios have signed a deal worth $20 million, where Messi becomes Socios’ global brand ambassador, Reuters reported. Chiliz, which powers Socios, is up 21% on the news.

If you want to know what Chiliz is, can it give you good returns, and the top places to buy Chiliz, you’ve come to the right place.

Top places to buy Chiliz now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy CHZ with eToro today

Bitpanda

BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.

Buy CHZ with Bitpanda today

What is Chiliz?

Chiliz was created by a fintech provider of the same name based in Malta. The leading digital currency for sports powers Socios, a blockchain-based sports entertainment platform, allowing users to get involved in brand governance.

Socios fan tokens are an example. They give sports clubs and associations a way to connect to their fans and open up revenue streams. Fans can impact and take part in club-related decisions through polls and surveys, such as statements worn on players’ armbands.

Should I buy Chiliz today?

Chiliz can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt.

Chiliz price prediction

Analytics Insight informs that Chiliz’ milestones this year are not the platform’s end goal and fans can expect a lot more progress and technological updates. 

They predict Chiliz is likely to reach $0.75 in 2024 if the next two years turn out as planned. It will not drop below $0.35.

Chiliz on social media

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