Blockchain Press Releases
Butn Ltd and APX Lending to Form Joint Venture to Capture $20 Billion APAC Crypto-Backed Lending Market.
Strategic partnership to redefine crypto-backed lending across Australia, New Zealand, and the broader APAC region
Key highlights:
- Butn Ltd and APX Lending sign binding MOU to launch Crypto-Backed lending product in Australia and New Zealand in Q2 2025
- Strategic partnership to redefine under-serviced crypto-backed lending across Australia, New Zealand and the broader APAC region
MELBOURNE, Australia and TORONTO, Dec. 9, 2024 /CNW/ – Butn Ltd (ASX: BTN), a leading Australian-based transactional funder has entered into a binding Memorandum of Understanding (MOU) with Canadian crypto-backed lending platform APX Lending to form a Joint Venture that will redefine crypto-backed lending across Australia, New Zealand and APAC. The partnership combines Butn’s regulatory expertise and local market leadership with APX Lending’s advanced crypto-backed lending technology to create a compliant and secure platform, offering under-serviced borrowers unparalleled access to regulated crypto-backed lending in the region.
By merging Butn’s expertise in lending and local market insights with APX Lending’s advanced crypto-backed lending technology, the partnership aims to establish a new standard for safe, secure and regulated crypto-backed lending in the APAC region.
The Joint Venture is on track for a launch across Australia and New Zealand in Q2 2025, with subsequent expansion planned across APAC and is well positioned to become the leading regulated crypto-backed lending platform in this rapidly growing and under-serviced market.
Andrei Poliakov, CEO of APX Lending, added, “This partnership with Butn is a major milestone in our mission to deliver secure, regulated and innovative crypto-backed lending solutions globally. By combining our technology with Butn’s regulatory expertise and experience lending in Australia and New Zealand, we’re offering a transformative crypto-backed lending solution to the APAC market. As APX Lending continues to grow internationally, we are committed to partnering with top regional leaders to build a global powerhouse in regulated crypto-backed lending.”
Butn’s Co-founder and Co-CEO, Rael Ross said, “This JV with APX Lending represents a significant opportunity off the back of Butn’s Retail Private Credit Fund launch earlier this year and the expansion of Butn’s leading suite of transactional funding products to now include secure and innovative crypto-backed lending solutions. With Bitcoin hitting $USD100,000, combined with APX Lending’s extensive crypto know-how, there has never been a better time for Butn to offer a transformative, crypto-backed lending solution to the APAC market. This announcement and subsequent launch show the true nature, robustness and popularity of the Butn suite of product offerings following the milestone of over $2 Billion in originations since inception.”
The Joint Venture will empower crypto holders in Australia, New Zealand and the larger APAC region to unlock liquidity by borrowing against their crypto assets on a compliant, safe and secure platform. APX Lending continues to see unprecedented loan demand in Canada and the U.S. whilst Butn has fielded many inquiries from potential borrowers in APAC, underlining the surging demand for crypto-backed loans globally. With this Crypto Lending product suite live in APAC in Q2 2025, Butn and APX Lending seek to lead the market with their leading technology and lending expertise.
About APX Lending
APX Lending is a leading Bitcoin and Ethereum-backed lending platform, registered with FINTRAC in Canada and FinCEN in the U.S., dedicated to providing compliant, safe, and secure lending solutions to individual and institutional clients globally. Founded by Andrei Poliakov, co-founder of Coinberry, one of Canada’s largest regulated crypto trading platforms, APX Lending is redefining the landscape of crypto-backed lending with a focus on transparency, security, and regulatory compliance. Leveraging cutting-edge technology and a deep understanding of the digital asset space, APX Lending seeks to serve a rapidly growing global market. With a seasoned team of industry experts, APX Lending offers innovative crypto-backed lending products, including a white label solution for banks, credit unions, and financial institutions worldwide.
For more information, please visit www.apxlending.com.
About Butn Ltd.
Butn Limited (ASX: BTN) is an Australian Business-to-Business (‘B2B’) funder innovating the way SMEs fund and grow their businesses. Butn focuses on transactional funding – funding SME businesses through their working capital constraints by financing individual transactions, leveraging the end debtor’s credit. With a vision of “Your money, today” Butn delivers cashflow funding solutions at the click of a Butn having funded over $2 billion to Australian businesses. For more information visit www.butn.co
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
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
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
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
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-p2p-unlocks-20-000-usdt-prize-pools-for-select-users-in-south-asia-and-africa-302337255.html
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