Blockchain Press Releases
QCP receives In-Principle Approval in the Abu Dhabi Global Market (ADGM)
First digital assets market maker and broker-dealer from Singapore to achieve an In-Principle Approval from the FSRA
SINGAPORE, May 7, 2024 /PRNewswire/ — QCP, a global institutional digital assets company, today announced that they have received In-Principle Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to conduct regulated activities. The decision to make a move into this strategic market for the company’s footprint was in anticipation that the Middle East is going to become a dominant global hub for capital flowing into traditional and digital assets.
The IPA marks a significant milestone in QCP’s journey and commitment towards becoming a regulated digital assets business. A major reason QCP has chosen ADGM as a base for its expansion is that the FSRA exists as the first regulator globally to introduce and implement a comprehensive and bespoke regulatory framework for the regulation of exchanges, custodians, brokers, and other intermediaries engaged in virtual asset activities. The progressiveness in the last few years has also created a strong foundation for institutions like QCP to enter.
Founded in 2017, in the early days of the rise of digital assets, QCP is a pioneer in a rapidly growing segment. It is one of the largest trading desks in the world for digital asset derivatives and a provider of trading solutions and structured strategies. Ernst & Young finds that as of September 2023, the monthly volume of crypto derivatives stands at US$1.33 trillion, which is nearly four times the size of the crypto spot market. With most of the crypto derivative market currently existing outside the US, Abu Dhabi and the UAE have a lot of potential to capture this market segment.
In addition, with notable financial institutions such as Goldman Sachs and Brevan Howard launching in Abu Dhabi last year, Abu Dhabi is rapidly attracting its target segment of clients including family offices, traditional and crypto native macro hedge funds, high net worth individuals, blockchain protocols, VC funds, brokerages and more. QCP also previously announced a partnership with Further Ventures, which is reflective of how the company plans to meet the demand for financial and derivatives digital asset offerings in the market.
Melvin Deng, CEO, QCP said, “The IPA is a significant development for us and advances our goal of embracing greater regulation. We are committed to meeting ADGM’s transparent and high standards of regulatory compliance. Our intention is to be a responsible player that wants to support market confidence. We are proud to be the first Singaporean digital asset market maker and broker-dealer to set up here in the market and hope we can encourage others to venture into this dynamic market. We want to learn from what other players are doing in Abu Dhabi and the region and bring our expertise as a first mover in digital assets to the ecosystem.”
Arvind Ramamurthy, Chief of Market Development at ADGM said, “We congratulate QCP on receiving its IPA from ADGM and welcome them to Abu Dhabi’s thriving international financial centre. With a leading trading desk and digital asset capabilities, we look forward to QCP’s integration into ADGM’s ecosystem, which will streamline regional opportunities. As the digital assets landscape continues to evolve in the Middle East, we anticipate more companies like QCP to recognise the progressive and comprehensive nature of ADGM’s regulatory frameworks, fostering confidence in choosing Abu Dhabi as their regional base.”
QCP will continue to have its main company headquarters in Singapore while leveraging on Abu Dhabi as a base to break new ground and drive innovation. It is well positioned to expand on the back of strong business growth, with a 64 % Y-o-Y increase in Q1 trading volumes. In line with QCP’s long term commitment to the UAE, subject to the regulatory approval for the grant of the FSP, the company plans on making further investments to invest in their presence in the UAE.
About QCP
Established in 2017, QCP is one of the first digital asset trading firms in Singapore, with a vision to partner the next generation of investors to unlock institutional opportunities in digital assets.
QCP brings to clients deep expertise gained from thriving through multiple market cycles. A global market maker in digital asset derivatives with a vast network of liquidity providers and counterparties, we are shaping the future of digital asset markets through greater access and efficiency. We offer a range of tailored derivatives and spot trading as well as structured solutions to institutional, professional and accredited investors.
An active early-stage investor in crypto and blockchain, QCP’s portfolio includes core trading infrastructure, exchanges, data and token ecosystems. QCP is supported by over 70 professionals in trading, business development, operations, risk and compliance teams. QCP is headquartered in Singapore.
QCP’s insights cover weekly trading updates, monthly and quarterly views, and can be accessed on our official social platforms such as Telegram, Twitter, LinkedIn and more.
More information can be found at www.qcpgroup.com.
View original content:https://www.prnewswire.co.uk/news-releases/qcp-receives-in-principle-approval-in-the-abu-dhabi-global-market-adgm-302138346.html
Blockchain Press Releases
Movement Network Foundation Announces Public Mainnet Beta Now Live with $250M+ TVL
Innovative day-one liquidity fuels the latest Move blockchain network launch
GRAND CAYMAN, Cayman Islands, March 10, 2025 /PRNewswire/ — The Movement Network Foundation, the organization dedicated to advancing MoveVM technology, today announced the successful launch of Movement Public Mainnet Beta, with an impressive $250M in at-launch Total Value Locked (TVL) from the Cornucopia program. This milestone enables permissionless smart contract deployment and user onboarding for the first time and allows everyone to freely build on and use Movement, the only Move-based chain that settles to Ethereum.
Cornucopia Deepens Liquidity
“Securing over $233 million in TVL through our Cornucopia program is a clear validation of the market’s confidence in Movement,” said Cooper Scanlon, Co-Founder of Movement Labs. “This level of day-one liquidity is exceptionally rare for a new network and gives us, our builders, and our community a significant advantage. It allows us to skip the months-long bootstrapping phase and immediately provide the foundation needed for meaningful DeFi adoption and utility.”
Cornucopia provides Movement Network with substantial day-one liquidity across BTC, ETH, MOVE, and stablecoin assets, addressing one of the primary challenges new networks face: the “cold start” problem. Developed with industry leaders including Concrete, Veda Labs, Echelon and Canopy, this robust financial foundation enables Movement to support sophisticated DeFi applications from day one.
Public Mainnet Beta Launch: Features
Movement Network is a secure and scalable network of Move-based chains secured by Ethereum, creating safer execution environments through the Move programming language originally developed by Meta to power safer, better digital economies. Movement is the Network’s first chain.
Public Mainnet Beta key features:
- Permissionless smart contract deployment
- Full user onboarding and engagement
- Attestations of block states will be committed to Ethereum as part of the Movement’s Fast Finality Settlement.
- Canonical Movement bridge via LayerZero
“With Public Mainnet Beta, developers can now deploy smart contracts without approval, and users can freely engage with the Movement ecosystem. This marks the beginning of a new chapter for Move-based technology, combining robust security and better performance with Ethereum’s network affects” added Rushi Manche, Co-Founder, Movement Labs.
The launch features the canonical Movement bridge powered by LayerZero, enabling users to seamlessly transfer MOVE (the network’s native gas token), USDT, USDC, wBTC, wETH, and more to the Movement chain.
The Movement Network Foundation will continue to launch additional features over time as the ecosystem evolves.
For more information about Movement Public Mainnet Beta, For more information about Movement’s Developer Mainnet, visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn, @moveecosystem @Move_Collective on Twitter.
About Movement Network Foundation
Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to fostering innovation and advancing the adoption of MoveVM technology. The foundation oversees the development of Movement Network, a next-gen solution built using MoveVM that settles to Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors building decentralized applications. Learn more at movementfdn.xyz or follow @movementfdn on X.
MEDIA CONTACT:
Carmen Pearson
Head of PR & Communications
Movement Labs
[email protected]
Video – https://www.youtube.com/watch?v=d_wSu1QPz3E
View original content:https://www.prnewswire.co.uk/news-releases/movement-network-foundation-announces-public-mainnet-beta-now-live-with-250m-tvl-302396414.html
Blockchain Press Releases
Movement Network Foundation Announces REX-Osprey™ Funds Files for First U.S. Movement ETF as Public Mainnet Beta Launches
First Movement ETF Filing Will Provide U.S. Investors with Exposure to Movement Ecosystem
GRAND CAYMAN, Cayman Islands, March 10, 2025 /PRNewswire/ — The Movement Network Foundation, the organization dedicated to advancing MoveVM technology, today announced that REX-Osprey has filed for a new exchange-traded fund (ETF) focused on $MOVE. If approved, this ETF would be the first providing exposure to Movement through traditional financial rails. Simultaneously, the Foundation announced the successful launch of Movement Public Mainnet Beta, with $250M in at-launch Total Value Locked (TVL) from its Cornucopia program.
“This filing represents a historic moment not just for Movement, but for the entire Move landscape,” said Rushi Manche, Co-Founder of Movement Labs. “Breaking the pattern of ETFs limited to long-established cryptocurrencies opens doors for institutional capital to support next-generation blockchain innovation.”
“Traditional investors have expressed keen interest in gaining regulated exposure to emerging blockchain technologies without directly managing tokens,” noted Cooper Scanlon, Co-Founder of Movement Labs. “This ETF represents the convergence of innovative financial products with cutting-edge blockchain architecture.”
ETF Provides Traditional Market Access to $MOVE
The Move programming language, originally developed by Meta, empowers Movement developers to create more efficient, more secure smart contracts. If approved, the ETF would allow investors to gain exposure to Movement through traditional brokerage accounts and retirement vehicles without the technical complexities of direct token management.
Public Mainnet Beta Launches with Substantial Liquidity
Concurrent with the ETF filing announcement, Movement Network Foundation has successfully launched its Public Mainnet Beta with $250M in Total Value Locked (TVL). This day-one liquidity provides the network with immediate utility.
The Public Mainnet Beta enables permissionless smart contract deployment, full user onboarding, and Ethereum settlement. It gives users and builders the full benefits of Move and the MoveVM. Users can access the network through the canonical Movement bridge powered by LayerZero.
For more information about Movement Public Mainnet Beta, visit movementnetwork.xyz or follow @movementlabsxyz, @movementfdn, @moveecosystem @Move_Collective on Twitter.
About Movement Network Foundation
Movement Network Foundation is the driving force behind the Movement ecosystem, dedicated to fostering innovation and advancing the adoption of MoveVM technology. The foundation oversees the development of Movement Network, a next-gen solution built using MoveVM that settles to Ethereum. Through its MoveDrop program and ecosystem initiatives, the foundation supports developers, projects, and community contributors building decentralized applications. Learn more at movementfdn.xyz or follow @movementfdn on X.
MEDIA CONTACT
Carmen Pearson
Head of PR & Communications
Movement Labs
[email protected]
Logo – https://mma.prnewswire.com/media/2575812/Movement_Network_Foundation.jpg
View original content:https://www.prnewswire.co.uk/news-releases/movement-network-foundation-announces-rex-osprey-funds-files-for-first-us-movement-etf-as-public-mainnet-beta-launches-302397057.html
Blockchain Press Releases
Market Needs a Stronger Boost than Trump’s Crypto Strategic Reserve: New Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, March 10, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest weekly crypto derivatives analytics report with Block Scholes as President Trump signed the executive order to establish a strategic BTC reserve on Thursday.
In the first week of March, crypto market movements suggested traders had digested the positive news and pulled towards bearish territories with a declining S&P 500 and growing skepticism surrounding ETH and SOL. This waning enthusiasm is evidenced by a notable increase in demand for short-term protective options as investors seek to mitigate potential risks in the evolving market landscape.
Key Highlights:
- Stable Funding Rates: Following President Trump’s announcement on Mar. 2, the spot prices of involved cryptocurrencies surged. However, funding rates for these assets have not reached extreme levels, remaining relatively stable compared to highs seen prior to Trump’s inauguration. This suggests a balanced demand for long positions, indicating subdued short interest in the market.
- Volatility in ETH Options: The enthusiasm surrounding ETH was quickly tempered as ongoing tariff discussions contributed to bearish market sentiment. This has resulted in a notable increase in realized volatility, surpassing options-implied levels. As traders seek protection, the market has seen a shift in short-term volatility towards puts, reflecting a cautious outlook.
- Decline in SOL Open Interest: The report also notes a decrease in open interest for Solana options at the end of February. Despite the inclusion of SOL in the proposed crypto reserve, open interest has not seen a corresponding uptick, with a majority of new positions still favoring calls, albeit at a lackluster pace.
Access the Full Report
For detailed insights, readers may download the full report.
#Bybit / #TheCryptoArk /#BybitResearch
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
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View original content:https://www.prnewswire.co.uk/news-releases/market-needs-a-stronger-boost-than-trumps-crypto-strategic-reserve-new-bybit-x-block-scholes-crypto-derivatives-report-302396850.html
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