Schlagwort: crypto business

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Shiba Memu (SHMU) set to benefit as the alt season takes shape

The recent Bitcoin price surge has helped spur a major altcoin boom. Bitcoin price jumped to over $44,000 this week for the first time since April 2022, giving it a market cap of over $800 billion. This rally raises the opportunity that Bitcoin could retest its all-time high of over $67,000 in the coming years.

Altcoin season is underway

Some analysts believe that Bitcoin will jump to over $100,000 in 2024 helped by the upcoming halving, potential interest rate cuts by the Federal Reserve and the approval of a spot Bitcoin ETF. 

Halving will happen in April 2024; in most cases, BTC tends to thrive ahead of that event. Meanwhile, most economists believe that the Federal Reserve will start cutting interest rates in the year’s first half. 

The futures market predicts that the Fed will cut rates by 0.25% in March 2024 and then deliver at least two more later in the year. Bitcoin and other cryptocurrencies thrive in a period of high-interest rates.

The other important catalyst is the ongoing review of a spot Bitcoin ETF by the Securities and Exchange Commission (SEC). Most analysts believe that the agency will ultimately approve the product since companies like Blackrock and Invesco have fixed its concerns. 

Besides, these companies have a long track record of filing and managing ETFs. Blackrock has over $9.2 trillion in assets while Invesco has over $1.47 trillion. Franklin Templeton has more than $1.5 trillion in total assets. As such, these are some of the best experts on ETFs.

Therefore, all these factors will likely lead to more inflows in both Bitcoin and altcoins like Ethereum, Cardano, and Polygon. We have already seen the alt season continue as most tokens like Solana, Bonk, Shiba Inu and Marinade Finance surged.

Shiba Memu to benefit in this rally

A key theme we have seen recently is the surge of key meme coins like Milady Meme Coin (LADYS), Bonk, and Pepe. These tokens are now worth millions of dollars and have made several millionaires along the way. Bonk is valued at over $600 million while Pepe is worth more than $500 million.

All this means that there is a room for more meme coins in the market. Shiba Memu is showing this as the developers have already raised over $4.7 million from investors, signaling that there is a demand for the token. 

Shiba Memu is an upcoming crypto token that is at the intersection of meme coins and artificial intelligence, a technology that has become popular this year. It aims to grow by using AI to self-market itself.

Shiba Memu’s token will next be listed in key exchanges after the presale period ends. Most analysts believe that the price will jump sharply after that if the altcoin season accelerates. You can buy the Shiba Memu token here.

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BBVA partners with Ripple’s Metaco to expand its crypto services in Switzerland

  • BBVA in Switzerland will migrate its crypto custody service to Metaco’s Harmonize platform.
  • It also plans to expand its crypto trading services beyond Bitcoin and Ethereum.
  • Ripple acquired Swiss-based Metaco in May 2023.

BBVA in Switzerland, the Swiss arm of the Spanish banking giant BBVA, announced on Thursday that it had struck a partnership with blockchain platform Metaco.

The collaboration will see BBVA use Metaco’s Harmonize platform to host its crypto custody service. This comes as the bank embarks on a new chapter in its crypto strategy and will help it expand its footprint amid growing demand from institutional clients.

BBVA to expand trading beyond BTC. ETH

Metaco, a Swiss-based digital assets custody platform founded in 2015, launched its Harmonize platform in 2021. Ripple, one of the leading crypto companies in the world and which created XRP, acquired Metaco in May 2023.

Harmonize offers an institutional standard that financial institutions and corporations can leverage as they build their blockchain and crypto services. BBVA has offered Bitcoin and Ethereum trading as well as custody since 2021.

With this partnership, it is migrating custody to Metaco’s Harmonize and will tap into its features to expand its crypto trading service to other cryptocurrencies. It will also use it for its tokenization product.

“Our partnership with Metaco, which will fully integrate our existing infrastructure within Avaloq, allows us to stay ahead of the market, offering the most robust and compliant platform,” Alfonso Gómez, CEO of BBVA in Switzerland, said in a statement.

Adrien Treccani, founder and CEO of Metaco, added:

“Metaco and BBVA Switzerland have had a longstanding history of partnership, and we are proud to bring our partnership to new heights, enabling awarded digital asset commercial offerings that fit the unique requirements of individuals and institutions.”

Metaco has key partnerships with global banks and financial institutions, including HSBC, DZ Bank, Societe Generale and UnionBank.

Recently, Standard Chartered-backed Zodia integrated Metaco. Also this week, the Ripple platform the platform partnered with computing giant IBM on the Hyper Protect Offline Signing Orchestrator (OSO), a technology that makes it easier and safer for top tier banks and financial institutions to safely deploy and handle digital assets in cold storage.

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LayerZero confirms 2024 token launch, planning an airdrop

  • LayerZero has officially confirmed its native token launch in the first half of 2024.
  • The announcement triggered a surge in metrics for LayerZero ecosystem projects.
  • The native tokens of Stargate and Radiant Capital have seen a rapid 10% increase in value.

In a significant crypto development, blockchain interoperability protocol LayerZero has officially confirmed plans to launch its native token in the first half of 2024. The blockchain interoperability protocol, known for its groundbreaking technology, is set to reward users through an airdrop, sparking renewed interest in its ecosystem projects.

Following the announcement, various projects within the LayerZero ecosystem experienced a surge in metrics, indicating a positive market response. Notably, tokens of projects like Stargate Finance and Radiant Capital, both leveraging LayerZero’s technology, witnessed a sudden increase in value. At press time, Radiant Capital  (RDNT) was up 6% to trade at $0.2848 while Stargate Finance was up 3% to trade at $0.5656.

The price uptick for the two tokens showcases the potential impact of airdrops on the growth and value appreciation of associated projects.

ZRO token distribution registration is Live

LayerZero’s token, ZRO, is expected to be distributed through an airdrop, a popular method rewarding users for their early adoption and participation in the protocol’s development.

According to a tweet from LayerZero, the registration for the token’s distribution has been opened and will last until December 15th. The distribution amount will be based on wallet activity.

Users are anticipated to be rewarded for interacting with LayerZero-based platforms. Common activities such as borrowing, trading, or lending on these platforms may contribute to eligibility for the airdrop. However, the specifics of LayerZero’s airdrop strategy still remain undisclosed adding an element of anticipation to the LayerZero community, as users eagerly await further clarity on the reward mechanism tied to their network engagement.

This recent revelation from LayerZero sets the stage for an exciting first half of 2024, as the crypto community looks forward to the token launch and potential rewards through the anticipated airdrop.

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Russia’s Exved launches cross-border crypto payments with Tether’s USDT

  • 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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Jack Dorsey’s company, Block, launches Bitkey Bitcoin hardware wallet

  • 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.

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.

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