Blockchain Press Releases
MetaComp Announces Strategic Partnership with Harvest Global Investments to Explore Bringing HK-Listed ETFs to Investors in Singapore and Beyond
SINGAPORE, April 29, 2024 /PRNewswire/ — MetaComp Pte Ltd, a leading Monetary Authority of Singapore (MAS) licensed Singapore fintech company that specializes in blockchain technology and digital assets, and its affiliates (collectively referred as MetaComp), is proud to announce a strategic partnership with Harvest Global Investments Limited (HGI), a leading asset management company licensed with the Securities and Futures Commission of Hong Kong. HGI is among the pioneering Chinese asset management firms to establish subsidiaries abroad. The Memorandum of Understanding executed between MetaComp and HGI marks a significant step towards potentially broadening the accessibility of innovative financial products globally with special emphasis on the recently announced cryptocurrency spot ETFs which will be expected to start trading on the Hong Kong Stock Exchange from 30 April 2024 onwards. This follows the announcement by HGI that they have received authorization from Hong Kong’s Securities and Futures Commission to launch the highly anticipated cryptocurrency ETFs.
The core of the partnership revolves around MetaComp and its affiliates’ commitment to make HGI’s cryptocurrency spot ETFs available, through MetaComp’s proprietary Client Assets Management Platform, also known as CAMP by MetaComp, utilizing its technological and market expertise to introduce these products under the appropriate regulatory framework to Singapore investors and beyond. This initiative not only aims to expand the global footprint of HGI’s ETFs but also allows MetaComp and its affiliate to enrich its wealth solution portfolio with highly sought-after financial products.
In addition to the crypto-ETF distribution, the collaboration will also explore opportunities for the integration of HGI’s various asset management solutions into MetaComp’s service offerings. MetaComp will also provide HGI access to its Digital Payment Token suite of services. Through the strategic collaborative efforts by both companies, they are hoping to forge a symbiotic relationship that will allow both companies to leverage on their strengths.
The alignment with HGI allows MetaComp to tap into the scale and expertise of a leading global financial player, significantly enhancing its service capabilities and market reach. This partnership is designed to serve not just the existing clientele of both entities but also to capture new segments eager for advanced financial solutions across traditional finance and crypto finance.
Dr Bo Bai, Chairman and Co-Founder of MetaComp shared: “This strategic alliance with Harvest Global Investments Limited reaffirms MetaComp’s commitment to being the bridge that links traditional finance with crypto finance. We are confident that our partnership with Harvest Global Investments Limited will prove to be mutually beneficial. With Harvest’s expertise in asset management and MetaComp’s robust capabilities in providing a comprehensive suite of digital payment solutions, we are poised to deliver unparalleled value to our clients and the market.”
For more detailed information on this partnership and to stay updated on future developments, please visit www.mce.sg.
About MetaComp Pte Ltd (www.mce.sg)
MetaComp is a leading Singapore-based digital asset platform that is licensed and regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. Operating under a P2B2C (platform-to-business, partners-to-clients) model, MetaComp provides an integrated end-to-end suite of services to its clients, empowering them to confidently enter the digital asset market with the much-needed safety, security, and compliance. Together with its parent company, Metaverse Green Exchange Pte. Ltd. (a MAS-licensed CMS holder permitted to carry out, inter alia, brokerage and custody services), MetaComp introduces its suite of services through CAMP by MetaComp, a regulated Client Assets Management Platform, allowing businesses to develop and scale their digital asset offerings through OTC and exchange trading services, fiat payment, digital asset custody and prime brokerage.
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
The post Binance warns of crypto market risks from overvaluation, centralization appeared first on HIPTHER Alerts.
The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
The post COPA, Unified Patents Partner to Fight Crypto Patent Trolls appeared first on HIPTHER Alerts.
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