Blockchain Press Releases
Klaytn and Finschia Merge Proposal Passes, Creating Asia’s Largest Blockchain Ecosystem
- By combining the technology and competitiveness of each blockchain network, the merged entity will become Asia’s largest Web3 ecosystem
- A joint task force will be launched to establish an integrated foundation and mainnet
- The merged blockchain will be compatible with both Ethereum and Cosmos, with the new native coin featuring sustainable tokenomics
SINGAPORE, Feb. 15, 2024 /PRNewswire/ — Klaytn Foundation, operator of South Korea’s leading Layer 1 blockchain Klaytn, announced today that its joint network merger proposal with Finschia Foundation, the Abu Dhabi-based foundation that is the independent successor to LINE Blockchain’s mainnet and digital asset operations, has successfully passed voting by the two bodies’ governance members. Accordingly, the two foundations will jointly launch an integrated mainnet to establish Asia’s largest Web3 ecosystem.
The proposal aims to create Asia’s leading blockchain network based on superior blockchain technology, services, and business acumen. The proposal was submitted and voted on by each chain’s governance members, with 95% from Finschia and 90% from Klaytn voting in favour, passing the joint proposal. The merged network will have approximately 420 DApps and more than 45 governance member partners, spurring the popularization of Web3 as Asia’s largest blockchain ecosystem.
Following the passage of the proposal, the two foundations will set up a joint task force to merge the two chains and establish an integrated foundation in Abu Dhabi by the second quarter of this year. To operate the foundation efficiently, the foundation will adopt a single governance system with previous operating teams transferred to an integrated foundation. In addition, Finschia and Klaytn foundations will jointly operate the board with the same number of directors from each foundation.
Leveraging on the technological expertise of both Klaytn and Finschia Foundations, the development plan for the new merged blockchain will include greater decentralization as well as support for both EVM and CosmWasm. KLAY and FNSA, the native coins of the two blockchains, will also be replaced by a new native coin with all-new tokenomics. To increase the transparency of operations, the merged chain will also increase the governance delegation and participation from the community as well.
Additionally, the foundation plans to work on new business initiatives such as infrastructure development to enhance accessibility for institutional investors, cooperating with diverse partners, and launching native stable coins to drive innovation in Asia’s blockchain industry.
“There was no one blockchain network that represented the Asian market, and the level of community participation had much to be desired,” said Youngsu Ko, Chairman of the Finschia Foundation Council. “We plan to build Asia’s largest blockchain ecosystem with the diverse opinions from our partners and community that we gathered during the merger proposal process.”
“In the process of fine-tuning the merge proposal, we have seen how much positive change can be made through sincere communication with ecosystem participants, including the holder community and governance council members,” said Sam Seo, Representative Director at Klaytn Foundation. “As we emphasized during the proposal process, together we will build Asia’s best blockchain ecosystem that will create greater future value.”
Details on the merge proposal can be found on the Klaytn Foundation governance forum. (https://govforum.klaytn.foundation/t/kgp-25-klaytn-finschia-mainnet-merge/719)
About Klaytn Foundation
Klaytn Foundation was established in 2020 to expand the ecosystem of Klaytn, a global Layer 1 blockchain platform, and has since been actively collaborating with its Governance Council members worldwide. Klaytn Foundation facilitates the adoption and development of new technologies to ensure that Klaytn fulfills its role as an open, trusted, and sustainable blockchain platform for developers and users alike. It also facilitates decision-making to ensure that the ecosystem continues to expand optimally in the rapidly changing blockchain landscape.
About Finschia Foundation
The Finschia Foundation is an independent foundation, based in Abu Dhabi, UAE, established in March 2023 to expand public blockchain and Web3 technologies. Inheriting the philosophy of LINE Blockchain’s “Blockchain for All”, the Foundation operates its third-generation public blockchain mainnet Finschia and crypto asset FINSCHIA (FNSA), and aims to achieve a sustainable token model with Web3 users around the world.
Media Inquiries
Klaytn Foundation: [email protected]
LINE Global PR: [email protected]
Disclaimer: The FINSCHIA (FNSA) staking and swapping activities available on the blockchain mainnet “Finschia” are not regulated and are not provided under the Finschia Foundation license.
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Blockchain Press Releases
Bybit Surpasses 70 Million Users, Reinforces Commitment to Transparency and Institutional Growth
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced it has surpassed 70 million registered users, a milestone that highlights the platform’s sustained global growth and deepening trust among both retail and institutional clients. This achievement underscores Bybit’s robust market presence and its steadfast commitment to security, compliance, and product innovation.
“Reaching 70 million users is more than a number—it’s a testament to the trust our global community places in us,” said Ben Zhou, co-founder and CEO of Bybit. “We are doubling down on compliance, institutional-grade infrastructure, and user-centric innovation to ensure everyone—from first-time traders to global institutions—can access the future of finance with confidence.”
Strengthening Global Compliance and Regulatory Engagement
Bybit continues to expand its global compliance framework, working closely with regulators around the world. Most recently, Bybit held strategic discussions with Vietnam’s Ministry of Finance, contributing to the country’s regulatory sandbox initiative by sharing expertise in KYC, AML, and international best practices.
Bybit has also made key progress in major jurisdictions, including the United Arab Emirates, further demonstrating its commitment to regulatory alignment and operational transparency.
Accelerating Institutional Growth
Bybit is seeing rapid growth among institutional clients, driven by high-performance trading infrastructure, advanced risk controls, and strategic partnerships. The integration with Zodia Custody—a leading provider of institutional-grade custody and off-venue settlement solutions—reflects Bybit’s ongoing efforts to meet the needs of sophisticated investors with robust, compliant offerings.
Pioneering Web3 Integration and Real-World Utility
Bybit continues to lead in practical Web3 innovation. The Bybit Card, now used by nearly 2 million people, enables everyday crypto spending, while Bybit Pay streamlines on-chain and off-chain transactions for both users and merchants.
In line with its user-first philosophy, Bybit is also leveraging artificial intelligence to enhance trading, research, and support services. CryptoLens, an in-house AI analytics tool, offers users deep insights into token fundamentals, community activity, social trends, and tokenomics—even for projects not listed on the platform. TradeGPT, an AI agent trained on Bybit’s proprietary data, delivers rapid price action summaries and technical analysis, helping traders make smarter decisions. Complementing these innovations, an AI Support Agent enhances customer service by improving response efficiency and user experience across the platform.
Bridging Traditional Finance and the Future of Digital Assets
Bybit remains committed to its role as #TheCryptoArk—a safe, trusted bridge from traditional finance into the world of Web3. Through intuitive products, regulatory collaboration, and cutting-edge technology, Bybit empowers users of all levels to navigate and thrive in the digital asset ecosystem.
“We’re building the infrastructure for the next era of finance,” Ben added. “By championing regulation, professionalism, and a relentless user-first approach, we’re shaping a safer, more inclusive, and more empowering financial future for all.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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Blockchain Press Releases
Unleashing the Power of Futures Combo Bots on Bybit: Leveling up Futures Trading with More Rewards
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, Futures Combo Carnival, a month-long trading event rewarding both new and experienced Futures Combo traders with multiple rewards tracks. Trading thresholds start at 300 USDT with rewards of up to 500 USDT in prizes weekly.
The largest Futures Combo campaign on Bybit to date, the Carnival gives traders even more reasons to make their futures trading journey hassle-free and more rewarding. Bot-enabled automated trading is becoming the norm among strategic traders in a turbulent market, where no traders can afford manmade mistakes or delays in execution.
Bybit’s Futures Combo Bot is a powerful tool for streamlining users’ futures trading experience, empowering them to build portfolios and rebalance positions across multiple futures contracts. The innovative solution allows traders to set up a Bot within minutes, minimizing manual management of complex trading strategies, and achieving both efficiency and flexibility when managing combos of futures contracts.
From now to Jun. 9, 2025, eligible Bybit users may take part in two events with a welcome bonus for first-time users:
- The Combo Battle offers newcomers who achieve a trading volume of 300 USDT an immediate 5 USDT Bot Bonus on a first-come, first-served basis, while experienced traders can earn lucky draw tickets by reaching volume milestones of 1,000 USDT and 2,500 USDT respectively using Bybit’s Futures Combo Bot.
- The Combo Challenge invites Mandarin-speaking Key Opinion Leaders to create and share their trading strategies on social media using the hashtag #ComboChallenge, with three weekly winners receiving 500 USDT each.
Bybit is committed to making futures trading more accessible to users looking to diversify their trading strategies. With rewards designed for both newcomers and experienced traders, this event strengthens community engagement while supporting users wherever they are on their trading journey. For more details and terms and conditions, users may visit: Bybit Futures Combo Carnival
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Bybit Unifies Loan Products to Enhance Capital Efficiency for Crypto Traders
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is enhancing the user experience and capital efficiency of its lending products by integrating Crypto Loans (flexible loans) and Fixed Rate Loans into a single, streamlined interface.
The integration introduces a unified platform for both loan types, enabling users to compare, manage, and optimize their borrowing strategies with greater ease. All loan products are now accessible under the Crypto Loans page, with a redesigned layout that prioritizes usability and transparency.
“Our goal is to simplify how users interact with our lending products while enhancing their capital flexibility,” said Emily Bao, Head of Spot at Bybit. “By consolidating management tools and aligning risk models, we’re giving our users more control and clarity over their borrowing activity.”
Key upgrades include:
- Unified Cross Margin Model: Both flexible and fixed-term loans will now operate under a shared cross-margin system, allowing users to benefit from consolidated Loan-to-Value (LTV) ratios — set at 80% (initial), 85% (margin call), and 92% (liquidation).
- Shared Collateral: Collateral can now be used interchangeably across both loan types, enabling more agile capital deployment.
- Tiered Collateral Ratios: All supported assets will follow a tiered collateral system, reflecting each asset’s risk profile — consistent with the structure previously applied to Fixed Rate Loans.
- Updated Interest Calculation: Interest will be calculated hourly using a compounding method: total debt (principal + accrued interest) multiplied by the hourly interest rate.
Existing loan orders will remain unaffected, continuing under their original terms and conditions. For users seeking further information, detailed guides on both Fixed Rate Loans and Crypto Loans are available via the Bybit Help Center.
This strategic move reaffirms Bybit’s commitment to innovation and user empowerment in the evolving digital asset economy.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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