Schlagwort: crypto business

Veröffentlicht am

Nevada sports betting revenue hit $1.43B in 2023; Macau sees surge in January

  • Sports gambling has seen rapid expansion in the US since the 2018 Supreme Court ruling allowing states to regulate sports betting within their respective borders.
  • Among the states best known for casinos in the US is Nevada, home to the famous Las Vegas city.
  • Outside of the US, Macau is another destination witnessing a surge in sports betting activities.

Nevada and Macau, two global gaming powerhouses, have recently released their gaming revenue reports, showcasing notable trends in the industry. Nevada witnessed record-breaking figures for both December 2023 and the full fiscal year, while Macau experienced a significant surge in January.

From a groundbreaking Supreme Court ruling legalizing online casinos to the popularity of slots for real money, Nevada has emerged as a powerhouse in the realm of traditional casinos and online casinos including crypto casinos.

Nevada’s record gaming revenue

In December 2023, Nevada achieved a historic milestone with a record-breaking revenue of $1.43 billion, marking a 9.04% increase compared to the previous year.

The state’s gaming industry continued its upward trajectory throughout the fiscal year 2023, culminating in a new statewide revenue record of $15.5 billion. Slot machines remained the primary revenue driver, accounting for $10.3 billion in gaming revenue. However, table, counter, and card games saw a notable growth of 8.35%, outpacing the slot machine revenue increase.

On the regional front, Clark County experienced a substantial 9.75% increase in gaming revenue, reaching $1.27 billion while Washoe County witnessed a slight decline of 2.87%, amounting to $80.4 million. Notably, Elko County stood out with a remarkable 14.96% increase, reaching $36.4 million in gaming revenue for 2023.

These regional variations reflect the diverse dynamics within Nevada’s gaming landscape as the gaming industry continues to thrive in the ‘Silver State’, setting new benchmarks and attracting visitors from around the world.

Macau’s impressive growth

Outside Nevada and the United States, Macau, often referred to as the “Las Vegas of the East” for being a prominent gaming destination in Asia, reported a staggering 67% increase in gaming revenue for January 2024 compared to the previous year.

This surge highlights the resilience and recovery of Macau’s gaming sector following challenges posed by the pandemic. The positive momentum in Macau’s gaming industry bodes well for its future prospects and contributes to the global gaming market’s vibrancy.

The post Nevada sports betting revenue hit $1.43B in 2023; Macau sees surge in January appeared first on CoinJournal.

Veröffentlicht am

Germany’s DZ Bank set to pilot crypto trading

  • DZ Bank, Germany’s 2nd largest, will pilot crypto trading for cooperative banks.
  • The initiative aims to meet rising customer demand for direct access to cryptocurrencies.
  • DZ Bank’s move reflects a broader trend of traditional banks embracing digital assets amid institutional adoption.

Germany’s DZ Bank, the country’s second-largest financial institution serving approximately 700 cooperative lenders, has announced plans to roll out a cryptocurrency trading pilot later this year. The pilot aims to provide customers with direct access to a variety of cryptocurrencies, including Bitcoin, without the need for financial advice.

The initiative aligns with the bank’s commitment to innovation and meeting the growing demand for digital asset investment options. It also aligns with the broader trend of traditional banks embracing digital assets to meet the evolving demands of their customer base

DZ Bank’s crypto trading pilot program

According to the bank’s plan, each of the 700 cooperative banks associated with DZ Bank will have the autonomy to decide whether to offer cryptocurrency trading to their customers. This approach reflects the findings of a study by Genoverband, which indicates significant interest among banks in providing cryptocurrency solutions.

The initial plan involved partnering with DWP Bank for the cryptocurrency trading pilot, although there are speculations that new partners could join the venture.

DZ Bank’s foray into cryptocurrency trading follows its release of a cryptocurrency custody platform in November leveraging Ripple’s technology solution to offer secure storage and processing of digital assets. DZ Bank had previously announced its partnership with Swiss custody tech firm Metaco before it was acquired by Ripple.

While the bank awaits a crypto custody license from the Federal Financial Supervisory Authority (BaFin), its collaboration with Metaco demonstrates a strategic approach to navigating regulatory requirements while innovating in the digital asset space.

Moreover, DZ Bank’s move to roll out a crypto trading pilot program comes at a time when institutional adoption of cryptocurrencies is on the rise globally. Institutions like BlackRock and Fidelity securing approval for spot exchange-traded fund (ETF) applications in the US underscores the growing acceptance of digital assets within the mainstream financial sector.

The post Germany’s DZ Bank set to pilot crypto trading appeared first on CoinJournal.

Veröffentlicht am

Astar Network announces mainnet launch for its Polygon-powered zkEVM

  • Astar zkEVM mainnet is set to go live this month.
  • A launch campaign dubbed “Yoki Origins” will commence immediately after the zkEVM mainnet

Astar Network, a multi-chain smart contracts and Web3 infrastructure platform, has announced the mainnet launch of Astar zkEVM, a new Layer 2 scaling solution for Ethereum. Astar zKEVM is a zero-knowledge Ethereum Virtual Machine- compatible L2 powered by Polygon’s Chain Development Kit (CDK).

Popular in Japan and expanding across the globe, Astar Network, is the cross-virtual machine network that leverages Polygon and Polkadot technologies. 

The platform revealed plans for the Astar zkEVM mannet launch last month, highlighting the benefits that compatibility with Ethereum smart contracts, toolset and wallets will bring to its growing community.

Astar zkEVM to go live in late February

According to Astar Network’s press release today, the new zkEVM L2 is expected to go live later this month, with its launch bringing a secure, scalable and gas-efficient blockchain platform to Web3 projects and enterprises.

Already, Polygon-based DEX platform Quickswap, omnichain interoperability protocol LayerZero, blockchain data indexing protocol The Graph and Rarible, an aggregated NFT marketplace, are some of the top projects that currently tap into Astar zkEVM.

Several leading Japan-based enterprises are also set to integrate with Astar zkEVM.

“Astar Network is proud to be an early pioneer in the use of Polygon’s zero-knowledge technology and Chain Development Kit to enter the Ethereum ecosystem. Astar zkEVM will establish a bridge between Japan and the broader web3 ecosystem, with projects by top Japanese enterprises, famous IPs, and prominent industries to be unveiled soon,” Maarten Henskens, Head of Astar Network, said.

Yoki Origins – the Astar zkEVM mainnet launch campaign

Astar Network plans to roll out an incentive program dubbed ‘Yoki Origins’ immediately after the zkEVM platform goes live.

Yoki Origins launch campaign

The campaign program intends to provide access to Astar Network’s original characters, which are inspired by Japanese Yokais “Yokis. With over 40 Web3 projects, creators and enterprises involved, the campaign will be a big chance for users to explore and interact across the Astar zkEVM platform.

As well as acquiring Yokis, users will have an opportunity to grab artwork by various artists, builders and enterprises. Users can acquire Yokis via Capsule Machines, or “Yo-Ports”.

According to Astar, ”Yoki Origins” will support social logins as well credit card payments, making it possible for anyone to join and participate.

Commenting on the launch campaign aims to achieve, Henskens, noted:

“The Astar zkEVM launch campaign “Yoki Origins” will help demonstrate the extent of our ecosystem’s reach, while celebrating our Japanese origins in a way that’s uniquely Astar.” 

The post Astar Network announces mainnet launch for its Polygon-powered zkEVM appeared first on CoinJournal.

Veröffentlicht am

Bybit applies for a Virtual Asset Trading License in Hong Kong

  • Bybit applies for a VATP license in Hong Kong through Spark Fintech Limited.
  • Hong Kong’s favourable regulatory environment contrasts with China’s crypto crackdown.
  • Harvest Fund Management’s spot bitcoin ETF application signals Hong Kong’s growing crypto influence.

Bybit, a prominent cryptocurrency exchange, has officially applied for a license to operate as a “virtual asset trading platform” in Hong Kong. The application was submitted through Spark Fintech Limited on Wednesday, as confirmed by the Hong Kong Securities and Futures Commission’s records.

The move comes amid a regulatory landscape that distinguishes Hong Kong from its neighbouring Chinese mainland. Bybit’s strategic choice aligns with Hong Kong’s welcoming approach to crypto firms, as seen with its crypto licensing regime initiated in June 2023.

Hong Kong emerging as a crypto hub in Asia

Unlike the broader crackdown on crypto activities in mainland China, Hong Kong has emerged as a favourable destination for crypto businesses. Bybit acknowledges the city’s strategic advantages, citing its established financial infrastructure and prime location.

Obtaining a Virtual Asset Trading Platform (VATP) license in Hong Kong would mark a pivotal step for Bybit, positioning it to serve institutional clients across the Asia Pacific region.

Hong Kong instituted its crypto licensing regime in June 2023, allowing licensed exchanges to offer retail trading services. Bybit’s application places it among the 14 crypto firms currently under official review by the financial regulator. Notably, OKX, another prominent crypto exchange, filed its application on November 16.

In addition to virtual asset trading licenses, Hong Kong regulators are paving the way for spot crypto exchange-traded funds (ETFs). The Securities and Futures Commission, along with the Hong Kong Monetary Authority, has reviewed existing policies, signalling a potential expansion of the city’s crypto financial products.

The Hong Kong arm of Harvest Fund Management, a major Chinese asset manager, has already applied to a spot Bitcoin ETF in Hong Kong.

Bybit’s bold move to secure a VATP license underscores the growing importance of Hong Kong in the crypto space, as the city continues to embrace and regulate digital asset trading. With regulatory developments ongoing, the Asia Pacific region is witnessing a dynamic shift in its crypto landscape, with Hong Kong at the forefront of this evolution.

The post Bybit applies for a Virtual Asset Trading License in Hong Kong appeared first on CoinJournal.

Veröffentlicht am

BNB Chain to drive DeFi, gaming and AI adoption in 2024

  • BNB Chain plans to drive mass adoption of crypto in 2024, with focus on decentralised finance (DeFi), gaming, and artificial intelligence (AI).
  • Decentralized Physical Infrastructure Networks (DePIN), Decentralised Society (DeSoc) and the Web3 economy are also key areas.

BNB Chain has outlined its plans for the coming year, with the blockchain ecosystem targeting further adoption of crypto via key innovations across various industry sectors.

In its 2024 outlook, BNB Chain says it will focus on driving mass adoption, taking a multichain approach to push innovation across decentralised finance (DeFi), gaming, and artificial intelligence (AI).

With hackathons and events tailored to spark greater innovation, BNB Chain will also push for a thriving crypto ecosystem via initiatives around Decentralized Physical Infrastructure Networks (DePIN), Decentralised Society (DeSoc) and the Web3 economy.

Unified approach, with “One BNB”

The BNB Chain team aims at taking mass adoption of crypto via these ecosystems to the next level with fully on-chain dApps that leverage a fast, cost-effective, scalable and developer-friendly network. 

BNB is the native token in the BNB Chain ecosystem.

The BNB Chain’s unified approach involves “One BNB”, an interconnectivity strategy that taps into the multi-chain framework made possible by its layer-1 platform BNB Smart Chain (BSC), layer- 2 scaling solution opBNB and decentralised storage chain Greenfield.

“The One BNB strategy integrates the BSC, opBNB, and Greenfield into a cohesive ecosystem, ensuring seamless interaction between decentralised computing and storage solutions,” BNB Chain said in a blog post.

While BSC gas limit will remain 140 million in 2024, opBNB will feature an increased gas limit of 200 million (from 100 million). Meanwhile, gas fees is set to fall as much as tenfold to $0.0001. opBNB targets achieving 10,000 transactions per second (TPS) in 2024.

BNB Chain also targets increased decentralisation, with new governance, MEV mechanism and staking integrated into BSC as the BNB Beacon Chain gets phased out. The year will also see upgrades that enhance the data storage and processing capabilities of Greenfield. Key features will include atomic update, paymaster and data availability layer.

Initiatives, including hackathons, are all targeted at bringing a diverse and vibrant blockchain ecosystem to the community in 2024, BNB Chain.

The post BNB Chain to drive DeFi, gaming and AI adoption in 2024 appeared first on CoinJournal.