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Companies without a crypto wallet will be left behind
Wallets can be a gateway to a multitude of functionalities that will expand businesses.
On the ceiling of the Sistine Chapel in Rome resides a very famous fresco. Its centerpiece, The Creation of Adam depicts God giving life to Adam, their fingers extending towards one another, poised to infuse a spark of creation.
It’s a vivid visualization of the creation of mankind. But it’s also an effective metaphor for the gulf between Web2 and Web3: So close and yet just out of reach.
For Web2 businesses trying to bridge that gap, the spark they’re missing is the Web3 wallet that will connect their app with all the functionalities on the other side.
Until they reach out and forge that connection, they will remain isolated from everything that lies beyond.
It’s just a crypto wallet; another way for your customers to pay. But it’s also everything.
Saying that Web3 wallets are only for crypto payments is like saying the internet is only for porn. A crypto wallet isn’t just a graphical user interface for private key management. In fact, controlling crypto is the least interesting thing it does. It’s a gateway to web3 and the jumping off point that separates the old web from the new.
It’s a dApp browser, a digital ID, a ticket holder and an access pass. It’s a neo bank, an express checkout, an avatar and an authentication mechanism. Read More
Kraken Launches Derivatives for Australian Wholesale Clients After Regulatory Setback
Kraken said it remains committed to maintaining a foothold in the Australian market while catering to institutional demand.
U.S.-based crypto exchange Kraken has launched a new suite of crypto derivatives products for Australian wholesale clients, aimed at aligning with regulatory standards following a recent legal challenge in the country.
Kraken’s licensed broker offering will allow institutional clients to gain exposure to crypto price movements through futures derivatives without directly holding the underlying assets, the company confirmed to Decrypt on Sunday.
The service includes multi-collateral support—fiat, stablecoins, and crypto—held within what Kraken describes as “one of the most robust custodial solutions,” available for over 200 tradable assets.
Kraken said it remains committed to maintaining a foothold in the Australian market while catering to institutional demand amid an evolving regulatory landscape. Read More
Crypto projects set to unlock $2.6B in tokens in November
The most noteworthy token unlocks in November include Memecoin, Aptos, Arbitrum, Avalanche and Optimism.
Locked digital assets worth $2.68 billion will hit the market in November as vesting periods for blockchain-based projects expire.
According to vesting data tracker Tokenomist (formerly Token Unlocks), $2.68 billion in crypto assets will be unlocked in November. Over $900 million in tokens will be unlocked on a cliff basis, while about $1.7 billion will be unlocked linearly.
The most noteworthy token unlocks in November 2024 belong to projects like Memecoin, Aptos, Arbitrum, Avalanche and Optimism.
Crypto token vesting is a practice in the digital asset space to prevent early investors or project team members from dumping tokens before a project matures. It also locks crypto assets to prevent holders from selling all at once and putting pressure on the markets, which may lead to a downturn in crypto token prices. Read More
Tap-to-Earn Isn't a Telegram Game Genre, It's a Launch Strategy: TON Society Founder
TON Society’s Jack Booth explains that tap-to-earn is a “viral mechanic” that can help Telegram projects build an invested user base.
Tap-to-earn took over crypto gaming this year, garnering hundreds of millions of players via Telegram mini apps. As a result, The Open Network (TON), the Telegram-aligned blockchain that most tap-to-earn games have launched their tokens on, has skyrocketed in popularity.
But the co-founder of TON Society, the organization focused on TON community operations, thinks that tap-to-earn should be seen less as merely a gaming mechanic—and more as an effective way to introduce products to users.
“What we’re going to see next is projects using the viral mechanic, tap-to-earn, as more of a launch strategy,” TON Society co-founder Jack Booth told Decrypt at London’s recent Zebu Live conference. “I never believed that it's going to be a whole sector of crypto. It's always a go-to-market strategy.” Read More
The Top Five Cryptocurrency Exchanges by Trading Volume And Its Significance
The world's financial landscape is undergoing a profound transformation, driven by innovative approaches to economic exchange. This shift is influenced by technological progress worldwide and impacts various aspects of society. The traditional boundaries of finance have been erased, as transactions are no longer limited by physical presence or geographical constraints. The nature of commerce has also undergone a significant shift, with the rise of digital assets and the increasing popularity of buying and selling liquid assets that exist solely in the digital realm.
Cryptocurrency is a popular digital asset that is increasingly used for transactions and debt settlement on a global scale. Given the rapid advancements in the crypto industry and the growing government interest, cryptocurrency is anticipated to replace traditional fiat currencies eventually. In addition to serving as a form of payment, crypto tokens can also be exchanged with one another.
The emergence of cryptocurrency trading has given rise to a specialized market that operates through online exchanges. These exchanges facilitate the buying and selling to engage in transactions within the cryptocurrency space. Without these platforms, it would be highly challenging for individuals to participate in the market, highlighting their crucial role in modern finance.
These exchanges, which play a vital role in the cryptocurrency market, can be centralized, decentralized, regulated, or deregulated. A key metric for evaluating their importance is the total trading volume of transactions executed on these platforms over a specific timeframe. Essentially, trading volume gauges the level of market activity, revealing the number of participants engaged in buying and selling and their willingness to take risks on price fluctuations. Read More
BBVA Debuts Tokenized Fund in Spain's Sandbox
BBVA is launching a tokenized fund integrated into the Spanish securities regulator’s sandbox. The fund will be open only to BBVA employees to research the benefits of applying blockchain technology to these applications.
Tradfi institutions are now open to testing decentralized technologies and applying them to existing use cases to examine their possible benefits. Banco Bilbao Vizcaya Argentaria (BBVA), the second-largest Spanish bank, has announced that it will launch a tokenized fund as part of the regulatory sandbox enacted by the CNMV, the Spanish securities regulator.
This sandbox allows participants to innovate and try new technologies, supported by the regulator’s supervision. Each project must be presented and pass the evaluations and requirements established by the CNMV.
The BBVA Token Short-Term Fixed Income fund will register its operations in a private blockchain provided by Allfunds, a software developer that produces decentralized solutions for third parties. BBVA Asset Management will act as the fund manager and marketer, using Allfund’s network, smart contracts, and nodes exclusively created for this test case.
Nonetheless, the fund will be operated by investors as if it were a traditional fund, who will be abstracted from the complexities of its decentralized operation. This means anyone with experience managing these financial tools can also operate this fund. Read More
Banking Giant UBS Rolls Out Tokenized Money Market Fund on Ethereum (ETH)
UBS Asset Management is unveiling its first tokenized investment fund on the leading smart contract platform Ethereum (ETH).
In a statement, the global wealth manager and multinational investment bank says the UBS USD Money Market Investment Fund Token (uMINT) will be made available through authorized distribution partners.
The Swiss firm with over $5.7 trillion in assets under management as of March 2024 says uMINT’s launch forms part of the broader expansion of UBS Tokenize, the banking giant’s in-house tokenization service initially focused on bonds, funds and structured products.
Says UBS Asset Management Asia-Pacific co-head Thomas Kaegi,
“We have seen growing investor appetite for tokenized financial assets across asset classes. Through leveraging our global capabilities and collaborating with peers and regulators, we can now provide clients with an innovative solution.” Read More
Visa and Coinbase join forces to enable instant transactions
Visa has partnered with Coinbase to offer increased convenience and fresh services for crypto users across the US and EU.
The integration with the Visa Direct network enables Coinbase customers to deposit funds into their accounts instantaneously using eligible Visa debit cards. This feature is particularly beneficial for Coinbase’s substantial user base, many of whom already hold debit cards linked to their accounts.
The ability to promptly add funds provides users with greater flexibility to seize trading opportunities—which can be essential, particularly in the fast-moving cryptocurrency market.
Visa Direct provides swift and secure money movement, serving as a vital bridge between traditional financial systems and blockchain technologies. This integration is designed to minimise the waiting periods for fund availability, a common hurdle in crypto trading.
Yanilsa Gonzalez Ore, Head of Visa Direct in North America, commented: “We are thrilled to be partnering with Coinbase to help service their customers’ money movement needs. Providing real-time account funding using Visa Direct and an eligible Visa debit card means that those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night.” Read More
Curve Finance, TON drive DeFi evolution through collaboration
2025 will be TON’s year of DeFi, and it has collaborated with Curve Finance to support a competition to find early leaders.
The year of decentralized finance (DeFi) on The Open Network (TON) blockchain will be 2025, developer TON Foundation declared. Decentralized exchange Curve Finance joined in to start the process, and TON and Curve held a competition for DeFi teams to develop stable asset swaps using Curve Finance’s proprietary technology.
Getting the pieces in place for DeFi:
TON is completing what it calls the first tier of DeFi primitives, it announced in a blog authored by TON DeFi lead Vlad Degen. The author had in mind lending solutions, liquidity staking and Constant Product Market Maker protocols. Emerging second-tier projects include launchpads, options and derivatives, and:
“Upcoming plans include bridges between TON and other networks, such as BTC and EVM, which will allow the addition of new assets, including major stablecoins.”
As part of the collaboration with Curve Finance finalized in September, a competition was held to develop Curve’s Constant Functional Market Maker (CFMM). This technology promises reduced price volatility and lower slippage.
Projects require a license to use CFMM technology, so the opportunity to make swaps on TON using the technology was notable. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
