Schlagwort: crypto markets

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TON Foundation plans US expansion

  • TON Foundation seeks US expansion amid growing crypto-friendly environment.
  • In the crypto market, Telegram-related blockchain project is powered by the Toncoin (TON) token.

Telegram related blockchain platform The Open Network (TON) plans to extend its operation networks in the US. The Toncoin (TON) token rose slightly amid the news.

According to details in a report, the move is inspired by President Donald Trump’s friendly regulatory policies.

TON Foundation shared details of the key development in a blog post published on Tuesday, Jan. 14.

New appointments

The Open Network (TON) has appointed Manuel Stotz as president to spearhead the strategic entry into the US market. He comes after his predecessor Steve Yun who remains as a board member in the foundation.

Following President-elect Donald Trump’s win , who is an investor in digital space,the US will grow into a digital hub enhancing crypto adoption and innovation.

Trump’s administration will promote favourable digital assets regulatory policies to make the US a safer crypto market. The previous administration blocked out many crypto investors by placing strict policies.

During the previous administration, Telegram faced hurdles as it tried to raise funds for a cryptocurrency project in 2020. The foundation had to bow out after a series of legal proceedings with the U.S Securities and Exchange Commission.

Trumps who is pro-crypto in July 2024 described Bitcoin as significant marker of freedom, sovereignty and independence in his speech

To make the US a digital hub and attract global investors, Trump has promised  his support for crypto investment. For an avid crypto investor he is, Trump has recently launched his family’s digital asset venture dubbed World Liberty Financial.

Among his policy formulations, the incoming president has announced plans to make the US the “crypto capital” globally. He also spoke of making a Bitcoin reserve in the US.

Tether announced it was relocating operations to El Salvador on Monday.

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BTguru partners with Chainlink to enhance tokenization in Turkey

  • BTguru and Chainlink have teamed up to promote asset tokenization in Turkey.
  • The crypto platform will tap into Chainlink’s key technology around interoperability, data feeds and proof-of-reserves.

Chainlink has joined forces with BTguru, Turkey-based virtual and crypto assets firm. The two firms aim at enhancing adoption of tokenized securities across the country for institutional investors.

Per details in a press release on Tuesday, BTguru seeks to tap on Chainlinks services for this goal. These are Chainlink’s flagship tech stacks, which include Chainlink’s proof-of-reserve technology, interoperability protocol CCIP, and Data Feeds.

To enhance digital assets solutions, BTguru borrows essential services from Chainlink to have enhanced security in its service delivery. It will have cross-chain interoperability protocol and make use of Chainlink’s tech infrastructure to the Turkish regulated financial firms.

A solution to challenges for institutions

The partnership seeks to offer solutions to the challenges affecting tokenized assets markets. With combined efforts, BTguru will seal the gap in tokenized assets markets by ensuring users have seamless data connectivity, enhanced security, asset utility, interoperability as well as getting reliable services.

BTguru managing partner Can Bukulmez in a statement noted that the two firms’ partnership will bolster BTguru’s growth.

He said, “The Chainlink standard will help BTguru provide financial institutions with the tools they need to unlock the full potential of tokenized assets while ensuring compliance and security at every step,”

The partnership goal is to provide real time solutions to emerging challenges associated with digital assets markets to banks and other financial institutions. Banks will have access to proof-of-reserves, price data and net asset value.

BTguru linking with Chainlink’s oracle network users will get multi-chain tokenized asset data synchronization allowing for off-chain connectivity.

David Fuchs, Head of business development for EMEA at Chainlink Labs could not downplay the importance the partnership brings onboard.

He noted that “Chainlink will enable BTguru to not only meet the stringent compliance and security requirements for institutional-grade digital assets, but also foster innovation and trust in the growing tokenized asset economy,”

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MoonPay kicks off 2025 with acquisition of Helio to advance the future of crypto payments

  • Helio is a blockchain-based platform built on Solana
  • It has handled more than $1.5 billion in transactions and supports over 6,000 merchants
  • Helio integrates with platforms such as Discord, Shopify, and WooCommerce

MoonPay, a crypto payments platform, has acquired Helio, a blockchain-based platform built on Solana, for a reported $175 million.

Ivan Soto-Wright, co-founder and CEO of MoonPay, posted the announcement on X, adding that “2025 is going to be [an] even bigger [year], and we’re kicking it off with a bang [with] the acquisition is HelioPay.”

Fox Business reported the acquisition was for $175 million.

According to a press release, the acquisition of Helio brings its technology, team, and ecosystem into MoonPay’s portfolio.

“This acquisition is an important step in advancing our vision for the future of payments,” said Soto-Wright. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces. With MoonPay and Helio combined, we now offer the most comprehensive product for on-chain payments.”

Helio has already handled more than $1.5 billion in transactions, integrates with platforms such as Discord, Shopify, and WooCommerce, and supports over 6,000 merchants.

MoonPay receives MiCA approval

In December, MoonPay secured its Markets in Crypto Assets (MiCA) license in the Netherlands. By doing so, MoonPay can offer its services and products across Europe.

The granting of the MiCA license is a massive milestone for MoonPay as the approval means expansion across a large market where more people are tapping into crypto payments.

In June, MoonPay integrated with PayPal for on-ramp crypto purchases in the UK and the US. MoonPay also partnered with Ledger last April to bring instant crypto purchases to its Ledger Live users.

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Tether to relocate operations to El Salvador

  • Tether announces its service relocation plans after acquiring a Digital Asset Service Provider (DASP) license.
  • USDT issuer Tether joins Bitfinex Derivatives in moving operations to El Salvador.

Tether is on its way to establishing new headquarters in El Salvador, the USDT issuer announced on Jan. 13, 2025.

According to details shared in a blog post, the relocation of services follows the acquisition of a Digital Asset Service Provider (DASP) registration in the crypto-friendly country. Tether’s entities have been incorporated in the British Virgin Islands.

The stablecoin giant recently acquired the Digital Asset Service Provider licence in El Salvador, the first country to adopt bitcoin as a legal tender in 2021.

Stablecoin giant moves to new home

Tether seeks to establish networks in digital assets in El Salvador which has Bitcoin friendly policies. The company further seeks to leverage bitcoin as a legal tender and spearhead the adoption of stablecoin on emerging markets.

The country opens up to business in the digital finance space by providing digital assets friendly policies as well as growing a digital asset liberated community. To enhance bitcoin adoption, the country seeks to formulate a policy requiring businesses to accept bitcoin as a legal tender.

Tether, the issuer of the global stablecoin with a market cap of $137 billion, said its plans to relocate to El Salvador aligns with the company’s goal to support financial inclusion by leveraging bitcoin adoption. By establishing networks in the digital assets friendly country, the company aims to align with the country’s regulatory policies while focusing on emerging markets.

“El Salvador represents a beacon of innovation in the digital assets space. By rooting ourselves here, we are not only aligning with a country that shares our vision in terms of financial freedom, innovation, and resilience but is also reinforcing our commitment to empowering people worldwide through decentralized technologies,” Tether chief executive officer Paolo Ardoino said.

Tether joins Bitfinex Derivatives which also announced moving its operation headquarters to El Salvador after it acquired its Digital Asset Service Provider licence. El Salvador has increasingly become a digital assets business destination for global bitcoin businesses, exchanges, and companies.

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Singapore blocks Polymarket, calls it an “illegal gambling site”

  • Singapore’s regulator said Singapore Pools is the only licensed gambling operator in the country
  • Anyone who uses an unlicensed gambling service is liable to face a fine of up to $10,000, six months in jail, or both
  • Other countries that have restricted access to Polymarket include France, Taiwan, and the US

Singapore’s gambling regulator has banned prediction marketplace Polymarket, defining it as an “illegal gambling site.”

Alex Zuo, Cobo’s vice president of investment and custody, posted a screenshot on X on Sunday showing a notice from Singapore’s Gaming Regulatory Authority (GRA). The GRA warned users that Singapore Pools is the only licensed gambling operator in the country and that Polymarket is considered illegal, adding:

“Under Section 20 of the Gambling Control Act 2022, a person convicted of gambling with unlicensed gambling service providers is liable for a fine of up to $10,000, or a jail term of up to six months, or both.”

Countries restricting Polymarket

Singapore is the latest country to take action to restrict access to Polymarket. In August, Polymarket was scrutinised as US lawmakers intensified efforts to ban gambling in American elections.

In November, Polymarket faced regulatory action in France after an anonymous trader, netted nearly $50 million wagering on Donald Trump’s victory in the US presidential election. French authorities, particularly the Autorité Nationale des Jeux (ANJ), blocked the platform after breaching local gambling laws.

Deciding to take action, Polymarket opted to block France-based users at the end of November. France was a major market for the platform after it blocked US users under a 2022 settlement with the Commodity Futures Trading Commission.

Also in November, the FBI seized CEO Shane Coplan’s phone and electronics after raiding his home. According to a report in the New York Post, unnamed sources said: “The government is likely trying to accuse Polymarket of market manipulation and rigging its polls in favor of Trump.”

Taiwan also restricted access to Polymarket in 2024.

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