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Blockchain Press Releases

UST Delivers API Prototypes for Retail Central Bank Digital Currency (CBDC) experimentation for the Bank of International Settlement and Bank of England

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Collaboration accelerates the exploration of API solutions for retail CBDC systems

LONDON and MELBOURNE, Australia, June 27, 2023 /PRNewswire/ — UST, a leading digital transformation solutions company, has announced its role as an Innovation vendor for Project Rosalind, an experiment in application programming interface (API) prototypes for central bank digital currencies (CBDC) from the Bank for International Settlements (BIS) and the Bank of England (BOE) via the BIS Innovation Hub London Centre. Uniting leading innovators from their respective industries, Project Rosalind developed and tested prototypes for an application programming interface (API) specifically built to distribute retail CBDCs.

CBDCs have the potential to positively disrupt and drive innovation across several sectors. UST collaborated with the BIS and BoE on the development of the API layer as well as the exploration of a range of use cases for the CBDC ecosystem. A prototype API layer was developed for the project, featuring thirty-three API endpoints grouped into six functional categories. More than thirty use cases identified and explored by public and private sector collaborators served as testing and validation for the architecture and features of the APIs. The success of Project Rosalind proved that API layers can be used by central banks to safely distribute CBDC to consumers via private sector service providers while simultaneously enhancing privacy, accountability, and convertibility.

UST played a pivotal role organizing the API development work, running innovation sessions as well as building a secure and functional API layer. UST also partnered with Quant, the blockchain for finance pioneer, to provide the underlying infrastructure and blockchain platform.

In a press release by BIS, Francesca Hopwood Road, Head of the BIS Innovation Hub London Centre, said, “The Rosalind experiment has advanced central bank innovation in two key areas: by exploring how an API layer could support a retail CBDC system and how it could facilitate safe and secure CBDC payments through a range of different use cases.”

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“Digital Currency has the potential to transform financial enterprises and revolutionize the end-user experience. The success of Project Rosalind with UST showcases how public-private collaboration and innovation can significantly accelerate time to market for solutions and result in tangible benefits for everyone. I’m proud of the work that we have done on this project and how it exemplifies our focus on transforming lives,” said Krishna Sudheendra, Chief Executive Officer, UST.

“At UST, innovation is at the center of all our transformation projects, and we put those principles into practice through this partnership. By leveraging our engineering experience and approaching the collaboration with an agile and aligned mindset, we were able to combine the strengths of each company to deliver an outstanding product,” said Tanveer Mohammed, Head of Innovation for UK, UST.

The prestigious London Innovation Hub Centre was established by BIS in 2021 and is one of six international nodes working to develop public goods in the technology space to support central banks and improve the functioning of the financial system.

UST’s work on Project Rosalind is just one of its many high-profile collaborations as part of its commitment to driving digital transformation. Over the past two decades UST has established itself as a key business transformation partner across a range of dynamic industries. For more information on UST and its work driving digital innovation, please visit the UST website.

Project Rosalind demonstrated that a well-designed application programming interface (API) layer can enable a central bank ledger to interact with private sector service providers to safely provide retail CBDC payments. The project has also demonstrated the potential of a CBDC system to enable a robust ecosystem to foster innovation, and to help meet the future needs of a more digitalised society. The key learnings and outcomes from the successful collaboration have been released and can be found here.

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About the BIS Innovation Hub London Centre

The BIS Innovation Hub has a threefold mandate:

  • We identify, in a structured and systematic way, critical trends in technology affecting central banking in different locations, and develop in-depth insights into these technologies that can be shared with the central banking community.
  • We develop public goods in the technology space geared towards improving the functioning of the global financial system.
  • We serve as the focal point for a network of central bank experts on innovation, with regular events to promote exchange of views and knowledge-sharing. These efforts complement the well established cooperation within the BIS-hosted committees.

The BIS Innovation Hub London Centre was established in 2021. Its current project focus areas are central bank digital currency (CBDC), next generation financial market infrastructures and supervisory technology (suptech).

To learn more, visit bis.org.

About Quant

Quant is the foundation of the blockchain economy. Assets of all kinds, from currencies to carbon credits, are being tokenised on blockchain, making their ownership immutable, their provenance traceable and their use easy to manage. Our patent-pending technology makes this simple, trusted and future-proof. We work with financial institutions and other enterprises to dramatically reduce their time-to-market, create new revenue lines, and mitigate risk by delivering enterprise-grade solutions built with security and compliance front of mind. Founded in 2018, Quant is UK-based with a US presence. We spearheaded the Blockchain ISO Standard TC307 adopted by 57 countries and solved interoperability with the creation of the world’s first interoperable blockchain platform, Overledger.

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To find out more, visit quant.network

Media contact, Quant

Andrew Carrier
Chief Marketing Officer
[email protected]

About UST

For more than 23 years, UST has worked side by side with the world’s best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients’ organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com

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Media Contacts, UST:
Tinu Cherian Abraham
+1 (949) 415-9857

Merrick Laravea
+1 (949) 416-6212

Neha Misri
+91-9284726602
[email protected]

Media Contacts, U.S.:
S&C PR
+1-646.941.9139
[email protected]

Makovsky
[email protected]

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Media Contacts, U.K.:
FTI Consulting
[email protected]

Logo: https://mma.prnewswire.com/media/1422658/UST_Logo.jpg

 

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Blockchain Press Releases

MALAYSIAN FOUNDERS BRING WEB3 TO MALAYSIAN SHORES WITH MALAYSIAN BLOCKCHAIN WEEK (MYBW) 2024

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KUALA LUMPUR, Malaysia, July 15, 2024 /PRNewswire/ — The country’s inaugural Malaysia Blockchain Week (MYBW) is poised to bring mainstream Malaysia into the world of Web 3. MYBW boasts strong Malaysian roots in an international digital space, featuring Malaysian founders and bringing together key Malaysian industry players well-known in the digital space.

The week-long event hosted by Malaysian Web3 powerhouse Lydian Labs will be held in partnership with the Malaysia Digital Economy Corporation (MDEC) and kicked off by Minister of Digital, YB Tuan Gobind Singh Deo.

MEET THE MALAYSIAN FACES OF THE BLOCKCHAIN SPACE

The Web3 space transcends international borders, attracting dedicated Malaysians to push the unexplored frontier of the industry.

As such, many Malaysians have become industry giants in the blockchain space, commanding significant influence and expertise in the industry. Despite their elusive real-life presence, lucky participants at MYBW will be able to rub shoulders with these Malaysian founders of key Web3 companies.

Youths and young-at-heart builders keen on exploring Web3 ventures as well as seasoned international investors will benefit from the congregation of blockchain experts and Web3 veterans.

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Expect to see local industry giants at MYBW, who will be present in support of the Malaysian-led initiative as well to provide unique industry insights at the event’s keynote presentations and panel discussions.

Present at the event will include Matthew Tan, the founder and CEO of the leading Ethereum block explorer, API and Analytics Platform, Etherscan.io. Prior to Etherscan, Tan founded and developed one of the earlier token-based blockchain explorers, Blockscan, for Counterparty, a smart contracts blockchain built on top of Bitcoin. He has around 15 years of industry experience, consulting and developing bespoke line of business solutions when he was a co-founder of a data/web applications solutions provider.

Next is Bobby Ong, the co-founder and COO of CoinGecko, an analytics platform for tracking cryptocurrencies and blockchain assets. CoinGecko was established in April 2014 and is one of the largest cryptoasset data aggregators in the world. Additionally, Ong is a contributing author in two digital currencies books – Handbook of Digital Currency, 1st Edition and Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1. He was also included in the Forbes 2019 30 Under 30 Asia list and graduated with a Bachelor of Science in Economics from University College London in 2012.

Other Malaysian founders include, but are not limited to:

  • Siong, co-founder of Jupiter, a decentralised exchange aggregator on the Solana blockchain platform using an extensive liquidity network and advanced algorithms.
  • Shawn Chong, co-founder of Salus, a holistic Web3 security company with experience in traditional and blockchain security focusing on user protection and strategic initiatives at the intersection of blockchain and cybersecurity.
  • TN Lee, founder of Pendle Finance, a DeFi platform that enables users to tokenize and trade future yield on Ethereum assets.
  • Dr Ian Tan, co-founder of Lydian Labs, a full stack Web3 Solutions Provider focused on advisory, tech, and marketing specialised in the APAC region.
  • Nicole Yap, founder of 8SIAN NFT which artfully tokenizes the rich tapestry of Asian heritage into NFTs which celebrate the history and depth of Asian women while building a global and inclusive Asian community.
  • Julian Koh, co-founder of Aevo, a high-performance decentralised derivatives exchange focused on options.

These Malaysian powerhouses will also be joined by international industry names such as Chess, CEO of GM Network; Dr Kang Li, CSO of CertiK; Victor Ji, Co-Founder of Manta Network; Gracy Chen, CEO of Bitget; Yoann Turpin, co-founder of Wintermute; Moshe, chairman of Oobit; Mark Rydon, CEO of Aethir; John Yao, CEO of Team Secret and many more.

MINTING THE FUTURE OF MALAYSIAN WEB3

MYBW will set the tone and future for Web3 growth and widespread adoption in Malaysia, featuring 33 panel discussions, 15 keynote talks, and more than 150 speakers which will open the curtain on important blockchain topics such as regulatory issues, the decentralised finance & syariah digital economy, blockchain traceability, NFTs & Web3 Gaming, and the impacts of Artificial Intelligence (AI) on the Malaysian landscape.

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The event, anticipated to draw more than 2,500 participants, will facilitate discussions between key stakeholders, bringing together decision-makers from the government and industry leaders to mint the future of Web3 for Malaysia.

Tickets for MYBW are already available on the official website.

EVENT DETAILS:

Date: 31 July – 1 August 2024 | 10am – 6pm
Location: World Trade Centre Kuala Lumpur (WTCKL)

Website details: https://myblockchainweek.com/

About Lydian Labs

Lydian Labs is a full stack Web3 solutions provider focused on the APAC region and China, providing 3 main pillars of services: Advisory, Tech, and Marketing.

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####

To know more about Lydian Labs, visit https://bit.ly/LydianLabs or find them on X (formerly known as Twitter).

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Blockchain Press Releases

BlockScholes X Bybit Crypto Derivatives Analytics Report Reveals Investors More Bullish on ETH Than BTC

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with BlockScholes, has released its latest Crypto Derivatives Analytics Report, highlighting a notable divergence in investor sentiment between Ethereum (ETH) and Bitcoin (BTC).

The report, analyzing market trends and trading signals across spot trading volume, futures, options, and perpetual contracts, underscores a growing bullish sentiment toward ETH. Key findings indicate that investors are increasingly optimistic about ETH, particularly in anticipation of the imminent launch of the first Ether Spot ETFs in the United States. This optimism is reflected in ETH’s sustained volatility premium over BTC, which has persisted amid heightened market activity.

Key Highlights from the Report:

  • Bullish Sentiment Toward ETH: BlockScholes’s Senti-Meter Index reveals a bullish sentiment among investors toward ETH compared to BTC. This sentiment is influenced by expectations surrounding the imminent ETF launch for Ethereum.
  • ETH Futures Outperforming BTC: Despite recent market fluctuations, ETH futures have shown a quicker recovery in open interest compared to BTC. This recovery trend suggests a robust market narrative focused on ETH’s ETF prospects.
  • Strong Perpetual Trading in ETH: Significant trading volumes in ETH perpetual contracts indicate substantial long positions, possibly driven by strategic positioning ahead of anticipated market developments.
  • High ETH Option Volatility: ETH options market volatility remains elevated, especially in anticipation of ETF approval, contrasting with BTC options, which exhibit a more defensive posture.

In response to the findings, Bybit’s Head of Institutions, Eugene Cheung, commented: “The latest data underscores ETH’s resilience and market appeal as we approach key regulatory milestones. Investors are demonstrably positioning themselves favorably amidst growing market expectations.”

#Bybit / #TheCryptoArk

About Bybit

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Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Apply and Win the Dream Getaway to Austria and Cutting-edge Gadgets with Bybit Card

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, is excited to announce the launch of its Bybit Card campaign, offering users the opportunity to win extraordinary prizes, including a dream getaway to Austria and cutting-edge tech gadgets including an iPhone 15 Pro and more.

To participate in the campaign, users need to apply and spend at least 500 EUR/USD with their Bybit Card. By completing both steps, they will automatically enter the Lucky Draw, where they stand a chance to win a guaranteed prize. The first 1,000 users who fulfill the requirements will be eligible for the Lucky Draw.

The campaign will run from Jul 15, 2024, 10:00 AM UTC to Aug 18, 2024, 11:59 PM UTC. During this period, users can take advantage of this exciting opportunity to win fantastic rewards.

In addition, VIP users will receive a 30 EUR/USD card bonus, enhancing their overall Bybit Card experience.

Joan Han, sales and marketing director at Bybit, said, “With the Bybit Card, individuals can seamlessly incorporate digital finance into their everyday lives, whether they’re shopping online or covering routine expenses. By providing users with convenience and flexibility, we aim to enhance their financial experiences. Furthermore, we are thrilled to introduce a range of diverse rewards and campaigns to our global user base, thereby creating greater accessibility and convenience for utilizing digital assets.”

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The Bybit Card blends the world of digital finance with everyday transactions, offering users a seamless spending experience. For more information about the Bybit Card and how to apply, visit:https://www.bybit.com/en/promo/campaign/Apply-Card-Win-Big

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Bybit Logo

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