Blockchain
Blockchain Drives New Mode of Payment – BeTreasury Completes Seed Round Financing
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BeTreasury, a leading cross-border blockchain payment platform, received millions of dollars in seed round financing in early 2019, and the company aims to develop an ecosystem for financial applications. BeTreasury will use the capital to build blockchain platforms, employ leading industry talent and develop back-end infrastructure for global accounts. BeTreasury provides global enterprises with cross-border financial service solutions based on blockchain technology of its online banking system and the introduction of its stablecoin, BUSD.
Online Banking System – Multi-currency Interbank Settlement and Collection
In order to conduct global trade, cross-border enterprises usually require banks accounts in multiple countries. Thus, the requirements for opening different global bank accounts, conducting exchanges and settlements, issuing cross-border receipts and payments also increase the procedural costs and human and material resources. BeTreasury is committed to facilitating all aspects of business in the online banking system: commercial tenants can conduct one-click global multi-currency collections and settlements through the online banking system.
In the BeTreasury’s online banking system, withdrawals will reach users’ accounts in real time, and funds can also be transferred to other users in the system free of charge. At the same time, the BeTreasury’s online banking system also supports ATM cash withdrawals and transactions undertaken in both physical and online stores. BeTreasury’s global currency account may potentially assist commercial tenants collect money from users in more than 200 countries.
BUSD: A New Mode of Payment Driven by Blockchain
Powered by blockchain technology, BUSD aims to provide both individuals and institutions with a new method for transaction value. Both the issuer and market participant can take advantage of the consensus mechanisms inherent to blockchain to realize fully transparent cross-region, cross-asset or cross-application P2P trades in real time. Given the nature of the tokens’ value stability, stablecoins have become popular as other crypto tokens tend to see wild fluctuation in value. This new mode of payment will meet the ever-increasing demands placed on the blockchain medium of exchange, including payments and receipts, consumer activity in all commercial environments as well as and cross-border payments made to users.
BUSD is a central part of BeTreasury’s mission to create a decentralized ecosystem for the world of finance driven by the blockchain. BUSD is a cryptocurrency which has 1:1 parity to the US dollar. The fact that BUSD is fully backed by the US dollar provides users with comparatively stable purchasing power. BUSD’s support system offers three layers of security architecture for users: the mobile wallet (DApp), BUSD server, blockchain and smart contract.
To enrich the application scenarios of BUSD, BeTreasury also introduced the BUSD client wallet and bank card, and the bank card uses legal tender as the circulation medium. Meanwhile, BUSD leverages intermediary fees over the traditional SWIFT bank transfer system used by most enterprises on cross-border payment. It can realize point-to-point payments on the basis of simplifying the process, ensuring considerable savings for commercial tenants. The BUSD payment fee is only 0.5% compared to around 3% for the traditional cross-border mode of payment.
Currently, BeTreasury has bank accounts in Singapore and Europe, and has applied for a US bank account and European EMI license. Moreover, BeTreasury endeavors to complete the online circulation of more than 100 digital currency circulation platforms in 2019, carry out payment tests with cooperating commercial tenants and seek deeper cooperation with them, and issue additional stable currencies such as BEUR and BLPY.
BeTreasury is currently seeking a new round of financing, which will be used for team expansion, market circulation, marketing, technology research & development and daily BUSD operation. It is believed that BeTreasury is ready for its future planning and preparation driven by innovations of cross-border financial service Blue Ocean and blockchain technology.
SOURCE BeTreasury
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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