Blockchain Press Releases
Astra Protocol’s Digital Compliance Solutions: A Beacon for Emerging Markets like Uganda
ZURICH, July 19, 2023 /PRNewswire/ — Uganda, a vibrant nation in East Africa, is undergoing a digital transformation. The country’s central bank has recently shown a more open stance towards cryptocurrencies, inviting members of the Blockchain Association of Uganda (BAU) to participate in its regulatory sandbox. This U-turn signals the beginning of a new chapter in the Ugandan digital economy, bringing forth an exciting question – how can businesses and governments maintain robust regulatory compliance in a rapidly evolving landscape?
Enter Astra Protocol, a leader in comprehensive compliance solutions for the decentralized financial and compliance sector. The applications of Astra Protocol’s offerings could prove invaluable in the Ugandan context and beyond.
Compliance Mechanisms
Astra Protocol provides comprehensive solutions ensuring compliance with Know-Your-Customer (KYC) and Know-Your-Business (KYB) regulations. Its globally patented decentralized KYC platform, specially designed for Web3, brings faster, more cost-effective solutions than traditional centralized KYC services. In a setting like Uganda, such a platform could significantly enhance the speed and efficiency of digital financial services.
Alongside KYC and KYB, Astra Protocol follows stringent Anti-Money Laundering (AML) regulations, incorporating standards for over 155 countries and 300+ sanctions and watchlists while preserving user anonymization. As Uganda’s central bank is cautious about the potential for money laundering with crypto transactions, the integration of such robust AML measures could offer a greater sense of security.
A Partner in Data Protection
Data protection is a critical aspect of digital financial transactions. Astra Protocol is in full compliance with data protection regulations, including Europe’s GDPR. It offers robust data security measures while ensuring necessary user consents are obtained – an approach that could reinforce confidence in Uganda’s emerging fintech scene.
Consumer Protection and Cybersecurity
Astra Protocol is deeply committed to consumer protection. By providing transparent compliance solutions and ensuring accurate disclosure of fees and charges, the protocol sets a high standard for fair practices in the digital assets landscape.
In an era when data breaches are alarmingly common, Astra’s rigorous cybersecurity measures ensure user data and platform integrity. Such robust safeguards could play an essential role in building trust among Ugandan consumers and businesses venturing into the crypto world.
Astra Protocol: A Pioneer in Regulatory Compliance
Astra Protocol’s strong commitment to ongoing compliance could provide a blueprint for Uganda as it navigates the complex terrain of digital finance regulations. By working closely with regulators and lawmakers across jurisdictions, Astra maintains full compliance with evolving regulations and industry standards. Its proactive approach guarantees that the platform remains up-to-date and secure for its users.
Looking Ahead
The convergence of its comprehensive compliance solutions and Uganda’s need for robust regulatory infrastructure offers a tantalizing future prospect. Astra’s firm commitment to full AML, KYC, and KYB compliance, transparency in operations, robust security measures, open communication with regulators, clear governance, and comprehensive risk management procedures position it as an ideal partner for emerging markets.
Astra Protocol’s potential to support countries like Uganda underlines the value it brings to the table – secure, transparent, and user-friendly digital asset trading that meets and exceeds industry standards. As Uganda continues to explore the crypto landscape, the insights and solutions offered by Astra Protocol could illuminate the path ahead.
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Binance, a leading cryptocurrency exchange, has announced adjustments to the tick size (the minimum change in the unit price) of specific spot trading pairs. These adjustments are aimed at enhancing market liquidity and improving the overall trading experience for users. The changes are scheduled to be completed by 05:00 (UTC) and 07:00 (UTC) on May 23, 2024.
Traders can find details about the tick sizes of all spot trading pairs on Binance in the platform’s Trading Rules. Importantly, the adjustment will not impact spot trading and related functionalities. API users will also observe changes in the tick size, and they can stay updated with the latest tick size using the GET /api/v3/exchangeInfo endpoint. Additional details and updates can be found in the API Changelog.
Existing spot orders will not be affected by the tick size update. Orders placed before the update will continue to be matched with the original tick size. However, traders are advised to adjust their trading strategies accordingly to avoid any unnecessary impact on their trading activities.
Binance emphasizes the importance of referencing the English version of the announcement for the most accurate and up-to-date information, as there may be discrepancies in translated versions. The exchange remains committed to providing a seamless trading experience and appreciates the support of its users. Users are reminded to exercise caution and make informed decisions when trading on the platform.
Source: blockchain.news
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According to an official announcement released on May 16, 2024, OKX will introduce new USDC trading pairs in the spot trading section between 7:00 am and 8:00 am UTC on May 20, 2024. This addition aims to broaden trading options for OKX users and contribute to the expanding USDC ecosystem.
In light of the risks associated with digital asset trading, OKX has issued a cautionary note to all users. They emphasize that information provided by OKX and third parties is for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information and does not provide financial, investment, or other forms of advice.
OKX highlights the speculative nature and high volatility of digital assets, cautioning that they may become illiquid at any time, potentially resulting in the loss of the entire investment. Therefore, OKX advises users to conduct thorough research and assess their risk tolerance before engaging in digital asset trading.
For inquiries regarding the new USDC spot trading pairs or any other concerns, users can contact OKX through their support center or engage with the OKX team on various platforms. OKX’s proactive approach in addressing user inquiries and fostering community interaction underscores its commitment to user satisfaction and the overall growth of the crypto ecosystem.
Source: blockchain.news
The post OKX Announces Support for New USDC Spot Trading Pairs appeared first on HIPTHER Alerts.
ShibaSwap, the decentralized exchange (DEX) affiliated with the Shiba Inu ecosystem, has announced a significant upgrade by migrating to the Shibarium blockchain. This move is expected to introduce a range of new utilities for users, as stated in a recent press release.
The upgrade includes features such as a revamped dashboard, enhanced user experience, discovery charts for trending tokens, and an improved process for onboarding new tokens onto the DEX.
Lead developer Shytoshi Kusama expressed enthusiasm for the upgrade, highlighting its potential to empower DEFI innovators and facilitate community token interaction on Shibarium. Kusama also invited the community to explore the new swap and encouraged existing Shibarium tokens to transition to the platform seamlessly, while assuring that further updates are in the pipeline.
A portion of transaction fees will be utilized to enhance liquidity pool (LP) value in swap transactions, benefiting users and the yield farming community, according to the press release.
The upgrade rollout will prioritize enhancing discovery and can be expected to include more regular updates and upgrades, as noted by fellow developer and contributor Kaal.
The upgrade aims to minimize gas fees and ensure faster transactions, in addition to supporting various segments of the Shiba Inu Ecosystem, including $SHIB and $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, ShibaSwap DEX, and the Shiba Eternity game.
Shibarium’s layer 2 mainnet, launched in August 2023, saw the creation of 21 million wallets and was trialed by millions of users. It introduced a new consensus mechanism called proof-of-participation (PoP), which selects validators based on their holdings of the associated cryptocurrency.
As of the latest data, the price of SHIB stands at $0.0002548, reflecting an almost 7% increase in the last 24 hours, with SHIB being the 11th largest in terms of market cap, according to CoinMarketCap.
Source: cointelegraph.com
The post ShibaSwap rolls out major upgrade, moves to Shibarium appeared first on HIPTHER Alerts.
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