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Okx Approved to Provide Cross-Border Payment Services in Singapore
Okx, a global cryptocurrency exchange and web3 technology company, announced that its Singaporean entity, Okx SG Pte. Ltd., has been awarded a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). The company also appointed Gracie Lin as the new CEO of Okx SG.
Highlighted the significance of the license, Okx SG stated:
The license, granted under the Payment Services Act 2019 (PS Act), allows Okx SG to offer digital payment token and cross-border money transfer services, including spot (buy and sell) trading of cryptocurrencies for customers in Singapore.
With the in-principle approval received in February 2024, Okx SG explained that it is focused on building a team of experts to serve local customers, reinforcing its commitment to the region. Read More
Arbitrum Stylus mainnet launch opens Web3 for traditional coders
Offchain Labs introduces Arbitrum Stylus on mainnet, enabling DApp development with WebAssembly languages, boosting performance, and lowering gas fees.
Offchain Labs, the original developer of Arbitrum blockchain and Stylus, announced the mainnet launch of Arbitrum Stylus, a backward-compatible virtual machine designed to remove common barriers to decentralized app (DApp) development for Web3.
Stylus allows developers with varied coding skills to build on Arbitrum using the familiar WebAssembly (WASM)-)-compatible languages. The convergence is expected to spur the launch of powerful Web3 applications and use cases with low gas fees.
Speaking to Cointelegraph at the Korea Blockchain Week conference on Sept. 3, Offchain Labs co-founder and chief scientist Ed Felten explained that Stylus unifies the two primary ways of writing smart contracts on blockchains: Ethereum Virtual Machine (EVM) and traditional programming languages such as Rust, C and C++.
Felten explained how layer-2 scaling solutions are starting to move away from Signaling from the limitations of the EVM by adopting additional capabilities from new languages:
“Now developers have the choice to develop their contracts in either style, and they’ll all run together on the same chain in a way that is fully interoperable, fully composable.” Read More
Polygon Is Migrating From MATIC to POL: Here's Everything You Need to Know
Polygon is switching its native token to POL, a step toward using the versatile token in transactions across its ecosystem.
Polygon Labs is making major strides toward the future of its network on Wednesday.
On September 4, the Ethereum scaling network will complete a migration from its longstanding MATIC token to POL, which will then become the native token of its network. The migration forms an integral part of the Polygon 2.0 roadmap.
Ahead of the shift, here’s a look at what to expect from the migration—and what you need to do if you’re a MATIC holder.
The POL migration will phase out MATIC as Polygon's native token.
In lieu of MATIC, POL will become the native gas and staking token for Polygon's main proof-of-stake chain, Polygon said in a July blog post. Read More
Scammers have found a way to burn tokens from inside Solana wallets
Reports have emerged of users buying tokens and not seeing it show up in their wallet balances.
Scammers have reportedly stumbled across a new way to rug-pull Solana users’ crypto — this time, by burning users’ tokens within seconds of their purchase.
According to Slorg, a member of Solana-based Jupiter’s Core Working Group, scammers have started to use an in-built Solana token extension to stealthily delete their target’s crypto holdings.
“Imagine you swap for a token and the wallet history confirms that you received it. But then you look inside and nothing shows up,” said Slorg in a Sept. 3 post on X.
“Time passes and no tokens, so you do some digging and reach out to someone who might know what's going on. This was the reality for a Jupiter Community Member 4 days ago,” he added. Read More
The New Mini Blog Newsfeed Is Here At Markethive! A significant achievement unlocked, with many more to come
The Markethive Social Market Broadcasting Network is rapidly gaining prominence as a blockchain-based ecosystem that empowers entrepreneurs with a unique blend of uncensored expression and impartial dialogue, fostering a spirit of collaboration. This sets it apart from the often divisive and restrictive social media landscape.
At Markethive, your experience is our top priority. That's why we're recognized for our evolutionary and innovative ethos. We consistently broaden our decentralized, all-encompassing platform, creating a distinctive news feed interface that fully captures the user's experience.
We operate as an Inbound Marketing platform similar to Marketo and Paragon. The platform is comparable to popular platforms such as YouTube, Instagram, LinkedIn, and Twitter. However, we aim to surpass these traditional Web 2.0 media platforms with the upcoming release of Markethive 2.0, which includes various new features and an improved layout.
In contrast to traditional social media platforms, which rely on a single, primary news feed algorithmically set by the central authorities, Markethive's innovative approach will incorporate four distinct news feeds tailored to support the diverse range of features and functions within the Markethive ecosystem.
Markethive's feeds, including the Conglomerate or general newsfeed, video content, blogging, and curated content, are all about putting you in control. With advanced algorithms, you can tailor these feeds to your preferences, giving you the power to shape your Markethive experience. Markethive's reach is vast, as it consolidates the various features of other platforms into a single, unified system. Read More
21.co launches Bitcoin wrapper on Ethereum
It aims to bring institutional-grade security to wrapped BTC.
21.co, the parent of cryptocurrency asset manager 21Shares, is launching its own Bitcoin wrapper — 21.co Wrapped Bitcoin (21BTC) — on the Ethereum blockchain network, according to a Sept. 3 announcement.
Launching 21BTC expands 21.co’s existing suite of wrapped tokens on Ethereum, including wrapped Avalanche, Polkadot and Solana tokens. 21.co launched 21BTC on Solana in May, the company said.
The BTC wrapper is designed to “bring stringent asset management best practices… to the world of wrapped assets,” including “institutional-grade custodians and security protocols,” Eliézer Ndinga, 21.co’s head of strategy and business development for digital assets, said in a statement.
21.co said user protections include cold storage and regulated third-party custodians. It is partnering with market maker Flow Trader to manage the issuance of 21BTC. Bitcoin wrappers are ERC-20 tokens — or other types of smart-contract compatible tokens — backed by BTC. Read More
EigenLayer rolls out 'major update' to restaking contracts
The upgrade aims to enhance rewards for restakers.
Eigen Labs, the developer behind EigenLayer, deployed a “major update” to the restaking protocol aimed at “making native [Ether] restaking on EigenLayer easier and more rewarding,” according to a Sept. 4 blog post.
The upgrade is designed to improve the performance of so-called EigenPods — EigenLayer’s restaking smart contracts for Ether staked on Ethereum’s Beacon Chain — by granting users greater flexibility in harvesting or reinvesting staking rewards.
“EigenPod users can now complete a checkpoint to restake their beacon chain ETH rewards on top of their existing EigenPod balance,” Eigen Labs said. “Beacon chain rewards are automatically restaked back into EigenLayer, enabling restakers to earn additional rewards.”
The upgrade also seeks to improve EigenLayer’s user interface, according to the post. Read More
Polkadot-backed summit brings Mandala and KILT to spotlight for emerging ecosystems
Bali Blockchain Summit highlighted how Indonesia is embracing blockchain technology to drive economic growth and digital transformation.
Indonesia, with a population of over 270 million and a projected rise to the world’s fourth-largest GDP by 2040, is taking its place in the global digital economy by embracing technological innovation. As part of its ambitious Indonesia Golden Vision 2045, the country aims to integrate five transformative technologies — artificial intelligence, Internet of Things (IoT), metaverse, quantum computing and blockchain — into its core economic and social frameworks.
Blockchain is seen as a key component for building robust data infrastructure and enhancing digital sovereignty. It offers unparalleled potential to revolutionize public and private sector operations through improved transparency, security, and efficiency.
Amid this national drive toward digital transformation, the Bali Blockchain Summit (BBS), held at the Bali Blockchain Center on Aug. 20, became a pivotal event highlighting Indonesia’s growing role in the global blockchain landscape.
Sponsored by Polkadot and hosted by Mandala Chain, a layer-1 blockchain platform built on Polkadot, the summit brought together key stakeholders, government officials, and blockchain experts to discuss strategic plans for expanding blockchain adoption in Indonesia and across other emerging markets. Read More
Flow Brings World Tour Builder Series to Singapore Following Crescendo Upgrade
The series invites builders to develop the next killer app across consumer DeFi, sports, social, and onchain gaming on Flow.
Layer-1 blockchain Flow is bringing its Flow World Tour builder series to Singapore later this month.
Kicking off on September 19, the Flow World Tour invites blockchain builders to develop the next “killer app” across four categories: decentralized finance (DeFi), Sports, Social, and Gaming.
“As major avenues of consumer traction, these four sectors present unparalleled opportunities for Web3 disruption,” a spokesperson for Flow said in a statement shared with Decrypt.
The event series will run alongside the Token2049 conference in Singapore, with developers invited to explore positioning and use cases centered around Consumer DeFi across onsite and virtual workshops, hackathons, and networking events at ETH Global Hackathon where they can engage with leading experts. 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
