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Blockchain Press Releases

Polyhedra Network and WSPN Join Forces to Enhance WUSD with Zero-Knowledge Solutions

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SINGAPORE, Oct. 9, 2024  /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is excited to partner with Polyhedra Network to incorporate zero-knowledge technology for the future of digital payment. Leveraging Polyhedra’s expertise in cutting-edge cryptographic techniques, this partnership aims to drive innovation, speed, and security for digital ledger technology used by international payment systems. 

WSPN provides transparent and efficient solutions for payment technology, with a dedication to shaping seamless experiences at the frontier of financial inclusion. In particular, WSPN pioneers the stablecoin WUSD, which is pegged 1:1 to the U.S. Dollar and aims for worldwide payments and round-the-clock financial markets.  WUSD is built to bridge the gap between DeFi and TradFi, uniquely poised to transact across borders and mitigate volatility associated with other riskier assets. WSPN has taken a proactive approach with regards to compliance for WUSD, partnering with security firms like Certik to ensure smart contract integrity. 

There are three areas the joint teams have identified for collaboration:

Interoperability with zkBridge

Bringing zkBridge to WSPN’s infrastructure will help increase interoperability without relying on external trust assumptions. zkBridge allows different networks to verify data in a secure manner, and employs the use of best-in-class provers to significantly improve proof generation.  zkBridge also reduces on-chain verification costs, and will allow for transference of cross-chain assets and liquidity. Together, zkBridge and WSPN hope to benefit the overall functionality, data validity, and collaboration of the WUSD system.

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ZK-powered Proof of Reserve

Polyhedra will build upon WSPN’s current Proof of Reserve process by using a ZK PoR mechanism. Polyhedra PoR will help demonstrate and ensure that assets exist 1-1 to back the WUSD coins held on-chain. This verifies that every dollar in WUSD is backed by its equivalent tangible asset in the real world. As a result, users can have more trust in the stability of their asset(s).

Pioneering Private Transactions

Historically, the transparency of digital ledgers has been a sore point for financial institutions that require privacy and regulatory measures such as selective disclosure. Polyhedra has developed a proprietary offering which employs conditional de-anonymization for compliant and efficient transactions. In the context of WUSD, this solution will empower users and institutions with the ability to obfuscate their transaction details.

All three of these solutions are supported by Expander, the fastest ZK proof system to date. Invented by the cryptography team at Polyhedra, Expander uses innovative polynomial commitment schemes integrated with the GKR protocol to minimize computational overhead, reduce memory usage, and process high-performance calculations. Expander’s contribution to these products and this collaboration means WSPN can set a new industry standard for scalability and security in stablecoins.

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Together, WSPN and Polyhedra are excited about how this partnership will expand ecosystems and drive value for users and the community. Increasing usability of these tools will help to bridge the gap between traditional finance and the digital economy.

****END****

About Polyhedra Network

Polyhedra Network is building the next generation of secure, interoperable, and scalable blockchain infrastructure with advanced zero-knowledge-proof technology. The team has developed and deployed several next-generation ZK-SNARK protocols resulting in performance improvements orders of magnitude faster than existing solutions. Their interoperability solution, zkBridge, connects over 25 blockchains and proves the validity of cross-chain messages utilizing zero-knowledge proofs. Developers building with Polyhedra Network can create secure, scalable, interoperable applications without any additional trust assumptions.

Website | X (formerly Twitter) | Discord

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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

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Blockchain Press Releases

Bybit Registers with FIU-IND and Commits to the Indian Markets

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DUBAI, UAE, Feb. 6, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has successfully registered with FIU-IND, reinforcing its commitment to regulatory compliance in India. As part of this process, Bybit has settled the monetary fine and diligently addressed and resolved prior regulatory matters, further demonstrating its dedication to transparency and the highest standards in the Indian market.

Bybit is committed to operating within the regulatory framework of India and takes its compliance obligations seriously. We have been working diligently with the FIU-IND to address their concerns and ensure full adherence to the Prevention of Money Laundering Act (“PMLA”) and associated regulations. We recognize the importance of robust Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) measures and are dedicated to upholding the highest standards in these areas.

We believe that our engagement and cooperation throughout the FIU-IND registration process demonstrates our commitment to compliance. We have been actively working to fulfill all necessary requirements for compliance, including its registration application on 26 June 2024 as a Virtual Digital Asset Service Provider (“VDASP”) in India.

Bybit is also proactively involved in the Indian crypto community to educate users and spread awareness. Bybit is currently a Silver Associate Member with the Bharat Web3 Association (“BWA”) . Through this partnership, we hope to use our platform to promote Web3 adoption and foster innovation in the Indian crypto ecosystem.

Bybit’s not-for-profit initiative Blockchain for Good Alliance (“BGA”) has partnered with blockchain societies of top universities like Blockchain Society of IIT Delhi and Blockchain Society of IIT Kharagpur to drive crypto education in India. Bybit will also be conducting a series of hackathons, workshops, and other events in partnership with top universities to foster crypto and blockchain education and awareness within the Indian market in the coming months.

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Bybit recognizes the great potential of the Indian market, and is committed to offering the best services and products to all Indian users, including Spot, Derivatives, Options, Bybit Earn, and more.

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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Blockchain Press Releases

TON and Mantle Set to Reveal 2025 Infrastructure Investments & Incubation Roadmap on Bybit Web3 Livestream

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DUBAI, UAE, Feb. 6, 2025 /PRNewswire/ — Bybit Web3 , the Web3 division of Bybit, is thrilled to announce the upcoming livestream event TON x Mantle in 2025: What’s Next After a Breakout Year? Set for February 7, 2025, at 8 AM UTC, this virtual gathering will spotlight the next phase of cross-chain innovation, emerging Web3 trends, and the strategic collaboration between Bybit and the TON Accelerator.

As Web3 gears up for a new bull run, the event will bring together key industry leaders to reflect on 2024’s major milestones and unveil their strategic vision for the year ahead. The discussion will highlight how cross-chain synergy, TON ecosystem growth, and developer acceleration are shaping the future of decentralized finance and blockchain adoption.

Unveiling Cross-Chain Synergy: Key Discussion Points

This livestream aligns with Bybit’s partnership with the TON Accelerator, which was announced in December 2024, and aims to support Web3 developers and startups in the Synergy Cohort. It will explore the way TON and Mantle ecosystems are going into the 2025 bull run.

Attendees will gain valuable insights on:

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  • Cross-Chain Synergy: How TON and Mantle are driving interoperability and unlocking new business opportunities.
  • TON Accelerator’s Impact: A showcase of top projects from the inaugural Synergy Cohort, with insights into their journey and upcoming milestones.
  • Web3 Liquidity & Investment Trends: Identifying the most promising DeFi and blockchain investment opportunities for 2025.
  • Beyond Tap-to-Earn: Strategic insights for sustainable growth and scalability in blockchain gaming and Web3 applications.

Spotlight on Expert Panelists

The event boasts a powerhouse lineup of speakers, including:

  • Shadie Berro, Social Media Lead at Bybit & Host
  • Alena Shmalko, Ecosystem Lead at TON Foundation
  • Inal Kardan, Partner at TON Ventures
  • Sophia Rusconi, Head of Acceleration at TON Accelerator
  • Sami Al-Abed, Head of DeFi at TON Accelerator
  • Zuki, Head of growth at FBTC, representing Mantle

Each panelist will share unique insights into TON’s evolving ecosystem, emerging narratives, and the role of cross-chain collaboration in accelerating Web3 adoption. They will dive into “Cross-Chain Synergy: Building the Future of Adoption – TON & 1B Telegram Users + Mantle & EVM Liquidity” and explore the latest developments, emerging trends, and what’s next in the TON and Mantle ecosystems.

Exclusive Livestream Rewards

Viewers will have the chance to win exclusive rewards, including:

–      Trade-to-Win Red Packet Giveaway

–      New User Exclusive Offers

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Eligible participants can claim bonuses and prizes directly through their Bybit accounts. Full terms and conditions are available on the Bybit platform.

This livestream marks another key milestone in Bybit’s mission to foster innovation, education, and collaboration in the blockchain space. As Bybit continues to empower Web3 builders, this event offers a front-row seat to the future of decentralized technology and cross-chain synergy.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

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Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit Web3, please visit Bybit Web3.

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.

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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

Vantage Markets Partners with Scuderia Ferrari HP for a Multi-Year Sponsorship

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SYDNEY, Feb. 6, 2025 /PRNewswire/ — Vantage Markets, a leading global multi-asset trading platform, is thrilled to announce its partnership with Ferrari, one of the most iconic teams in motorsport. This collaboration, commenced on January 13, 2025, will see Vantage become an Official Partner of the Scuderia Ferrari HP F1 team, marking a significant milestone for both brands in their pursuit of excellence.

As Official Partner, Vantage will be featured within Ferrari’s Formula 1 ecosystem and across Ferrari platforms, as part of a bond that embodies shared values of pursuing excellence and innovation.

Marc Despallieres, Chief Executive Officer at Vantage, expressed his enthusiasm:
“Partnering with Ferrari is an exciting milestone for Vantage. Ferrari’s legacy of speed and innovation mirrors our own commitment to empowering traders with cutting-edge tools and exceptional performance. Together, we aim to inspire our global community with the perfect blend of motorsport and trading expertise.”

Lorenzo Giorgetti, Chief Racing Revenues Officer at Scuderia Ferrari HP: “We are pleased to welcome Vantage Markets as an official partner of Scuderia Ferrari HP. This collaboration is built on shared values of innovation, precision, and performance—core principles that drive both our team in Formula 1 and Vantage in the world of trading. We look forward to working together to engage our global audiences in exciting new ways.”

With this exciting venture, Vantage Markets is poised to reward its users with exceptional experiences while joining motorsport enthusiasts worldwide in supporting Scuderia Ferrari HP.

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For more information about this exciting partnership and what’s ahead, visit the website.

About Vantage

Vantage Markets (or Vantage) is a multi-asset broker offering clients access to a nimble and powerful service for trading Forex and Contracts for Difference (CFDs) products on, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

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Vantage Global Prime Pty Ltd (ACN 157 768 566), located at 12/15 Castlereagh Street, Sydney, NSW, Australia, 2000, and is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL no. 428901.

Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn’t take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary.

You should consider whether you’re part of our target market by reviewing our Target Market Determination (TMD), reading our Product Disclosure Statement (PDS), and other legal documents to ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice if necessary.

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