Blockchain Press Releases
Taiwan’s Leading Crypto Market Leader BitoGroup Partners with Digital Bank to Launch World’s First Crypto-Friendly Bank Account
TAIPEI, June 21, 2024 /PRNewswire/ — BitoGroup, the leading cryptocurrency market leader in Taiwan, today announced its partnership with Far Eastern International Bank Bankee to launch the world’s first dedicated crypto-friendly bank account. As cryptocurrency adoption by international institutions continues to grow, BitoGroup began serving financial institutions two years ago, setting a precedent as the first cryptocurrency exchange to form an alliance with financial institutions. This partnership promotes seamless integration between traditional banks and third-party payment processors. It represents a significant breakthrough for the financial market and has sparked considerable interest within Taiwan’s financial sectors. By collaborating with large institutions, BitoGroup aims to strengthen the cryptocurrency ecosystem and plays a crucial role in driving innovation in financial technology.
The world’s first dedicated bank account for cryptocurrency users is the result of three years of research and effort by BitoGroup and Bankee. This innovative service was achieved by integrating the systems and service processes of the two companies, while ensuring compliance with regulations and supervisory measures, and prioritizing user’s experience.
“Both BitoGroup and Bankee place great emphasis on the security of member assets, platform stability, and user transaction experience,” said Titan Cheng, Founder and CEO of BitoGroup., “Since the initial pilot phase, we have received positive feedback from the community. The Bankee dedicated account can be linked to BitoPro’s exchange account and set up in as little as one hour, significantly enhancing user’s convenience. During the pilot phase, the average daily transaction amount per user increased by 25%. With over one million members in Taiwan, we expect explosive growth once the service is officially launched.
Cheng emphasized that the cryptocurrency community is excited about the collaboration between exchanges and traditional financial institutions. This collaboration will positively improve user confidence in transactions and reverse the negative image of cryptocurrency scams. In the future, BitoGroup will join forces with Bankee to introduce more services, enriching the flexibility of utilizing both fiat and cryptocurrencies.
BitoPro has also partnered with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, enabling 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the most widely accepted crypto payment solution in Taiwan.
BitoGroup believes that partnering with large institutions to integrate cryptocurrency use into existing operational systems is not only the best way to promote cryptocurrency usage but also fosters innovation. Initiatives such as exchanging convenience store loyalty points for digital currency, enabling cryptocurrency payments through e-commerce third-party payment services, and the recent launch of crypto-friendly accounts with Bankee, all contribute to expanding the existing ecosystem. BitoGroup’s robust blockchain infrastructure, combined with a focus on optimizing service processes through technology, will create a win-win situation for institutions, exchanges, and users.
Taiwan’s cryptocurrency industry has officially entered a new era of regulation with the establishment of the Virtual Asset Service Provider (VASP) Association. BitoGroup’s founder and CEO, Titan Cheng, has been elected as the first Chairman of the VASP Association. This close cooperation between cryptocurrency and traditional financial institutions will help strengthen the trust of regulatory authorities and financial institutions in the cryptocurrency industry, laying a solid foundation for the crypto-financial system.
About BitoGroup
Founded in 2014, BitoGroup aims to use blockchain technology to achieve the goal of inclusive finance, including assisting companies and consumers to enter the new era of Web3. The businesses of the group include BitoPro (a cryptocurrency exchange), BELS (an NFT empowerment platform), and O2 META (a metaverse-focused social media platform).
View original content:https://www.prnewswire.co.uk/news-releases/taiwans-leading-crypto-market-leader-bitogroup-partners-with-digital-bank-to-launch-worlds-first-crypto-friendly-bank-account-302178876.html
Blockchain Press Releases
Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report
DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.
With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.
Key Findings:
BTC Options Expirations:
In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.
ETH Options: Calls Dominate
Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side.
Access the Full Report:
Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)
#Bybit / #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 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
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2587821/Sources_Bybit_Block_Scholes.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/markets-show-resilience-ahead-of-end-of-year-options-expirations-bybit-x-block-scholes-crypto-derivatives-report-302339299.html
NICOSIA, Cyprus, Dec. 26, 2024 /PRNewswire/ — BC.GAME has launched its latest slot game, Wukong, inspired by the highly acclaimed Black Myth: Wukong, a groundbreaking AAA game that has captivated players worldwide. Officially released on December 24, this 6-reel, 5-row slot game allows players to experience the essence of Wukong’s legendary journey while aiming for rewards of up to 10,000 times their bet.
The game incorporates iconic symbols and elements from Black Myth: Wukong, such as the Ruyi staff, gourd bottles, and treasure pearls, designed to recreate the mythical atmosphere of the original story. The addition of the Sticky Symbols feature enhances gameplay by keeping special symbols locked in place during free spins, significantly increasing the chances of winning and unlocking larger rewards.
Dark Visual Design and Storytelling Behind Wukong
The visual design of Wukong draws from traditional Chinese art styles, blending elements from Journey to the West. The reels are filled with recognizable symbols like the Ruyi staff, gourd bottles, and treasure pearls. These symbols immerse players in the mythical world of the story, faithfully recreating key moments from the novel, such as Sun Wukong’s havoc in Heaven and his encounters with the White Bone Demon.
The game’s background is rooted in Journey to the West, where Sun Wukong embarks on a journey with the monk Tang Seng and his companions to obtain sacred scriptures. Each detail of the game is carefully crafted to bring this legendary tale to life, offering a unique gaming experience and a tribute to Chinese culture and mythology.
Key Features of the Wukong Slot Game:
Free Spins and Bonus Opportunities: Triggering free spins unlocks additional reward mechanisms, increasing the chances of landing big wins.
Sticky Symbols Feature: Special symbols remain in place during free spins, greatly enhancing winning potential.
Up to 10,000x Max Win: The game offers a maximum payout of up to 10,000 times the bet, providing significant winning opportunities.
“Wukong is not just about spinning reels; it’s about experiencing a rich part of Chinese culture. We’ve worked hard to ensure the game is stunning and fun and engaging for players, with layers of features that add excitement. We’re proud to offer a game that blends storytelling with gameplay, and we think players will love the journey through Wukong’s legendary world,” Jack Dorset, CEO of BC.GAME said.
About BC.GAME
BC.GAME is a leading online gaming platform that integrates blockchain technology and cryptocurrency into its casino games, by offering a secure, transparent, and decentralized experience, BC.GAME allows players to enjoy a variety of gaming options, including slots, table games, and live casino offerings. The platform is dedicated to providing players with exciting, fair, and innovative ways to engage with the world of gaming. citing, fair, and innovative ways to engage with the world of gaming.
Logo – https://mma.prnewswire.com/media/2496049/BC_GAME_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bcgame-launches-monkey-king-themed-slot-game-wukong-302339192.html
Blockchain Press Releases
WSPN Appoints Former EY Global Chief Innovation Officer Jeff Wong as Independent Director
SINGAPORE, Dec. 26, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a leading stablecoin infrastructure company, announces the appointment of Jeff Wong as Independent Director. Mr. Wong brings over 25 years of experience in technology innovation and enterprise transformation to WSPN. He most recently served as EY’s Global Chief Innovation Officer from 2015 to 2024, where he spearheaded the firm’s global innovation initiatives and established EY’s advanced technology labs focusing on Artificial Intelligence, Blockchain, Quantum Computing, and Web3.
Prior to EY, Mr. Wong held leadership roles at eBay and JPMorgan Partners. He is a member of the Council on Foreign Relations, the Forbes Technology Council, and the founding Chair of Asia Society’s Technology and Innovation Council, helping drive the innovation and transformation agenda. He was also a member of the World Economic Forum’s Global Future Council on Innovation Ecosystems. He has previously served on the Oxford Foundry Board at Oxford University and the Advisory Board for AI4All. Mr. Wong is a recipient of the Outstanding 50 Asian Americans in Business award and an honoree of the A100 List by Gold House, recognizing individuals with Asian Pacific heritage who have made a significant impact on American culture and society.
“Joining WSPN at this pivotal moment in the stablecoin industry is incredibly exciting,” said Mr. Wong. “I look forward to contributing my experience in emerging technologies and enterprise transformation to help WSPN build the next generation of digital payment infrastructure.”
“Jeff’s appointment represents a significant strategic addition to WSPN,” said Raymond Yuan, Founder and CEO of WSPN. “His deep expertise in innovation management, enterprise transformation, and emerging technologies, combined with his leadership experience at global institutions, will be invaluable as we accelerate our market expansion and global development.”
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN’s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
Logo – https://mma.prnewswire.com/media/2429245/WSPN_logo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/wspn-appoints-former-ey-global-chief-innovation-officer-jeff-wong-as-independent-director-302338852.html
-
Blockchain Press Releases6 days agoBybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
-
Blockchain3 days agoUNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
-
Blockchain Press Releases2 days ago
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
-
Blockchain Press Releases6 days ago
Surprises Guaranteed: Bybit Card Dishes Out Rewards in Holiday Giveaway
-
Blockchain6 days agoBybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws
-
Blockchain6 days agoLCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape
-
Blockchain Press Releases6 days ago
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
-
Blockchain4 days agoBitget Partners with Fiat24 to Advance PayFi Solutions for Crypto
