Jul 24 2024 33 mins 1
25th July-Crypto & Coffee at 8
🟠 Mt Gox $3.2B transfers 🟠 Stablecoin pegged to Hong Kong dollar 🟠 South African Rand-Backed Stablecoin 🟥Ferrari to launch crypto payments -Europe
🟠 Mt. Gox has transferred a total of 47,500 BTC, valued at approximately $3.2billion. The largest transfer, amounting to $2.1 billion, was moved into what seems to be a new wallet. Most recent transfers were to the centralized crypto exchange Bitstamp, one of the five firms assisting in redistributing Bitcoin and Bitcoin Cash to Mt. Gox creditors. Wallet can be seen here https://shorturl.at/ByxaI via Arkham
🔥 Stablecoins - HK
- Jingdong Coinlink plans to issue the stablecoin on the blockchain with a peg to the HKD, aiming to provide businesses with “efficient, cost-effective, and secure payment solutions. The website also states that the stablecoin will “actively” collaborate with “global regulatory authorities” while adhering to existing and future legal and regulatory requirements. the stablecoin will be redeemable on a 1:1 basis, and its reserves will consist of “highly liquid, highly trusted assets” stored in licensed financial institutions. Info via Hong Kong Monetary Authority (HKMA) here https://lnkd.in/dmkXwgka
👀 ZARcoin (ZARC), a stablecoin pegged 1:1 to the South African rand
- NeoNomad., a South African fintech company, has launched a hybrid exchange platform featuring ZARcoin (ZARC), Launched on 11 July, this digital currency seeks to bridge the gap between traditional and crypto finance, facilitating seamless transactions both domestically and across borders. Utilizing Solana Pay, the platform enables instant, low-cost transactions and focuses on Decentralized Finance (DeFi) to reduce fees. NeoNomad plans to boost crypto adoption with its NomadLearn educational program and DecentraLounge coworking space. With regulatory support from the FSCA, NeoNomad aims to build trust and promote financial inclusion in South Africa. Info via Ventureburn here https://lnkd.in/dXEGW6ve
🚨 Ferrari will extend its cryptocurrency payment system to its network of European dealers from the end of July. By the end of 2024, Ferrari will expand cryptocurrency transactions to other countries in its international dealer network, where cryptocurrencies are legally accepted.
🚨 Ferrari is leveraging the expertise of various companies active in the cryptocurrency payment sector to ensure transaction security. These solutions will facilitate dealers in accepting payments without the need to manage cryptocurrencies directly, as these will be converted immediately into traditional currency. The providers' solutions will also allow for the verification of the source of funds and protect transactions from price fluctuations related to exchange rates. Official info here https://lnkd.in/dsBWyTyt
🟠 Two UAE news (See slides)
⚡ Crypto custodian service Changer.ae Ltd obtains new FSP licence in Abu Dhabi ADGM
⚡ Webidoo launches AI marketing tool for SMEs in Dubai
For slides click here https://shorturl.at/NlWeK
LinkedIn Profile: https://tinyurl.com/bdeevbru
Podcast Host: @black_incarnation
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