Blockchain Press Releases
Lift Dollar (USDL) from Paxos International is Now Available to Users in Argentina via Ripio, Buenbit, Manteca and Plus Crypto
NEW YORK and ABU DHABI, UAE, June 5, 2024 /PRNewswire/ — Paxos International, a UAE-based affiliate of Paxos, today announced Lift Dollar (USDL) – a yield-bearing stablecoin issued under regulatory supervision – is now available to consumers in Argentina via distribution partners Ripio, Buenbit, Manteca and Plus Crypto.
USDL is unmatched in the market as holders earn overnight yield from short-term, minimal-risk US government securities and cash equivalent assets held under the safe protection and custody requirements of the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This reserve structure is like other Paxos-issued US dollar stablecoins that are backed 1:1. USDL is issued permissionlessly on Ethereum and pays yield programmatically on a daily basis to token holders. USDL marks an important innovation in democratizing overnight yield by shifting interest earned on stablecoin reserve holdings directly to eligible end holders from the central issuer. This follows Paxos’s proven history of building blockchain solutions for financial institutions and industry leaders.
Using an Ethereum smart contract, USDL distributes the yield generated from its reserves to eligible wallet addresses daily without requiring any additional steps by the token holder. This results in a seamless experience for token holders as their USDL wallet holdings increase every day. Paxos will retain an issuer fee and pay out the remaining yield earned based on prevailing daily market conditions. Companies in permitted jurisdictions interested in enabling USDL on their platforms can onboard with Paxos International.
Ronak Daya, Head of Product of Paxos, said: “Lift Dollar is the first stablecoin designed to benefit token holders. Token holders and distribution partners receive daily yield, through an Etherum smart contract, with all the benefits of a regulated, trusted stablecoin platform. Paxos International has partnered with leaders Ripio, Buenbit, Manteca and Plus Crypto to ensure customers in Argentina are receiving tokens from safe and secure channels. Our targeted launch in this market will ensure millions of token holders will now have safe access to US dollars that enables them to not only save and transact, but also earn daily yield. We are pleased to work with these trusted platforms and look forward to growing our partnerships throughout the year.”
Sebastián Serrano, CEO and co-founder of Ripio, commented: “The launch of USDL by Paxos represents another significant step in the commitment to offering users robust and reliable options in the world of cryptocurrencies. We are excited to list USDL on our app and continue to provide access to innovative financial tools that promote inclusion and economic freedom for all.”
Federico Ogue, Chief Executive Officer of Buenbit, added: “We are very happy to partner with Paxos in the launch of USDL. Yield bearing stablecoins are the future of stablecoins as they share revenue generated with the end user. We are glad that Paxos was the first big stablecoin issuer to take this step forward as it is one of the most reputable companies in the field.”
Federico Goldberg, Co-Founder and CEO of Manteca, added: “The launch of USDL in Argentina with Paxos International, whose affiliate already provides services to giants like PayPal, MercadoPago and Nubank, is excellent news for retail customers, our corporate clients in Manteca and the local crypto ecosystem. The fact that USDL allows holders to seamlessly generate income is an incredible differential compared to other alternatives that currently exist. It’s like ‘putting dollars under the mattress’, but modern.”
USDL is issued by Paxos International which is regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The FSRA is recognized for its robust regulatory framework and commitment to fostering innovation in financial services. Under the FSRA’s license Paxos International is required to hold only high-quality liquid assets to back USDL – US dollar deposits, short duration US treasuries and cash equivalents. It is required to ensure that USDL will maintain 1:1 parity with the US dollar and consumers can redeem their tokens for fiat at all times.
NOTE: This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the US and the District of Columbia). This announcement is not an offer of securities for sale in the US. The digital assets referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended and may not be offered or sold in the US, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the US. USDL is not available to residents of certain jurisdictions, including the United States, and the United Arab Emirates except ADGM, the United Kingdom, the European Union, Canada, Hong Kong, Japan or Singapore.
Contact: [email protected]
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Blockchain Press Releases
Ethiopia-Exclusive: Bybit Livens up P2P Marketplace with 12,000 USDT in Rewards
DUBAI, UAE, Nov. 18, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce an Ethiopia-only limited time offer for Bybit P2P users. From now to Dec. 5, eligible makers and users on Bybit P2P can choose a special rewards track while capturing opportunities in P2P trading.
Registration is required for all three events:
1. Merchant-exclusive Event
On Bybit P2P, users may enter the P2P Maker Battle for a share of a 2,000 USDT prize pool. Merchants may get a share of the prize pool by placing a sell ad in the Ethiopian Birr (ETB) on the Bybit P2P marketplace, inviting others to buy USDT.
The prize pool will be divided by the top 10 merchants who trade with the largest number of unique users, and complete a minimum trading volume of 5,000 USDT and minimum number of 50 unique buyers. To qualify, the Merchant must register and submit their UIDs using this form.
2. Cashback Event: Up to 2% for Existing Users
All buyers have a chance at an easy win from another 8,000 USDT prize pool. Existing P2P users may simply trade to reach a minimum of 500 USDT in trading volume to unlock 2% cashback, up to 10 USDT per user.
3. Sharers Get More
Users have another way to access a 2,000 USDT prize pool by using the “share” button to spread the word about their ETB journey on Bybit P2P. The top 10 participants with the highest views will get to tell their stories and take home the rewards. Interested users may use this form to submit their work.
P2P trading is an organic part of the crypto market and an indispensable tool for improving financial inclusion and interconnectivity between community members. Bybit P2P provides a secure and user-friendly peer-to-peer trading solution, enabling users to seamlessly trade among themselves at zero fees.
Bybit offers resources about posting trades on Bybit P2P, and Ethiopian users may visit here for more.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 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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The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
Blockchain Press Releases
Sweat Your Way to Rewards: Live4Well Revolutionizes Wellness with Innovative “Exercise-to-Earn” Ecosystem
HONG KONG, Nov. 18, 2024 /PRNewswire/ — The past decade has witnessed a dramatic shift in consumer behavior, with online shopping becoming the norm, further accelerated by the pandemic. Reward programs have sprung up everywhere, incentivizing spending and fostering brand loyalty. The core of cashback is to encourage consumers to develop a habit of continuous shopping through rewards. This same logic is beginning to take root in the field of sports and health.
GYMetaverse, the innovative team behind the successful Live4Well Genesis NFT collection, is disrupting the rewards landscape with the launch of its upgraded VIV PASS program. This groundbreaking “move-to-earn” ecosystem incentivizes healthy habits, transforming sweat equity into tangible rewards. Live4Well envisions a positive feedback loop where exercise leads to better health, and better health leads to tangible benefits, realizing the concept of “health as wealth.”
Pioneering the “Fitness Mileage” Concept: Earn Rewards for an Active Lifestyle
This inclusive program is open to users worldwide with zero barriers to entry. In just minutes, users can download the Live4Well mobile app and register for free access to the VIV Pass ecosystem. Initially, Sweat Points, the program’s reward currency, can be earned through three primary avenues:
(1) Daily Exercise — Users accumulate points by tracking steps and calories burned, turning daily workouts into rewarding experiences.
(2) Competition Participation — Points are awarded for participating in designated sporting activities, simply by uploading proof of participation.
(3) Health & Fitness Spending — Users can upload receipts for eligible purchases in the designated sports and wellness categories to earn additional Sweat Points.
Live4Well makes the benefits of exercise immediately tangible, converting effort into visible rewards. Accumulated Sweat Points can be redeemed for a variety of prizes, including cash vouchers, fitness products, and exercise classes. The Live4Well app also empowers users to track their fitness data and participate in engaging challenges.
Creating a Global Sharing Economy: A triple win for Users, Businesses, and the Industry
Live4Well‘s vision extends beyond simply creating a health management platform. The “exercise-to-earn” concept fosters a mutually beneficial ecosystem:
(1) User Benefits — VIV PASS motivates individuals to adopt and maintain healthy exercise habits through a rewarding system.
(2) Business Advantages — The platform connects businesses with their target audience through community engagement and strategic partnerships, driving more effective product promotion.
(3) Industry Transformation — By creating a “move-to-earn” economy, Live4Well stimulates consumer spending, transforming calorie expenditure into a quantifiable reward unit. This innovative approach empowers businesses to generate revenue, expand operations, and seamlessly connect the virtual and physical worlds.
Since its inception, Live4Well‘s fitness alliance ecosystem has continued to expand. With ongoing optimization of its operational framework, the VIV PASS ecosystem provides easy access and a tiered membership system, fostering a comprehensive wellness mechanism which stimulates consumer engagement, and builds a thriving global sharing economy.
To learn more, please visit: https://www.live4well.io
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