Blockchain
TRES Is Launching a New Product: TRES NFT GOLD, 100% Backed by Real Gold
Zug, Switzerland–(Newsfile Corp. – September 13, 2022) – The cryptocurrency company, which has presence in Switzerland, Liechtenstein, and the UAE, is launching a new, unique product named TRES Gold, which helps investors all around the world buy gold in digital form. The crypto asset industry is changing; the relationship between the real world and the virtual world is developing.
Tres NFT Gold
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8511/136984_4a312df1949afb39_001full.jpg
The launch of Tres Gold NFT: what can it do for the world?
The Tres Gold NFT product is being developed by the holding company TRES, which was founded in 2020. The company’s key area is storing, purchasing, selling, and issuing cryptocurrencies.
TRES Gold NFT is a product that allows users all over the world to purchase gold in the form of a unique NFT. The physical gold from these purchases is stored in Liechtenstein and the United Arab Emirates.
The idea behind NFTs is that it’s a cryptographic certificate that proves you own a unique item. NFTs can represent any unique object, e.g., an image on the internet. However, NFT technology can also be combined with things from the real world.
The fact that digital tokens could have these features prompted the Tres Gold NFT team to create a new product that could combine the unique nature of NFTs with real gold.
The result is that people all over the world can now easily buy real gold. By buying NFT gold in digital form, you’re buying a gold bar without needing to go somewhere like a bank.
This service is suitable for people that want to diversify their financial portfolio and buy bars of real gold from the comfort of their own home.
Legality and innovation
“The main benefits of our product is that it’s quick and easy to buy gold in digital form, the gold is reliably stored in some of the most protected jurisdictions on the planet, and the fact that the process of interacting with the company’s product itself is fully legal at every step,” said TRES Holding’s R&D department.
The company has a license to create and issue NFTs, and to store, purchase and sell cryptocurrency in Dubai and Liechtenstein. It also has approval to carry out its activities from Dubai’s financial regulator. The group of companies has a great number of licenses that give it the legal right to work with digital gold. These include TRES DLT DMCC in Dubai in 2021 to issue utility tokens, SIMBA STORAGE DMCC in Dubai in 2021 to store BTC and other cryptocurrencies, and TRES OTC DMCC in Dubai in 2021 to purchase and sell BTC and other cryptocurrencies.
The process of purchasing gold on the platform looks like this:
Users need only to register on the website https://my.simba.storage/, confirm their identity and funding origin, connect a wallet, and carry out a payment, and they’ll have a gold bar in digital form that can be stored long term, resold on popular NFT trading platforms, or traded for a real gold bar.
What’s the verdict?
Thanks to Tres Gold’s new product, millions of investors all over the world can now balance their portfolios not just with shares and cryptocurrencies, but also real gold. The world at the moment is unstable, both national currencies and cryptocurrencies are unstable. If you want the purchasing process to be completed quickly, properly, and legally, then it’s no stretch to say that it’s best to look towards licensed companies and their innovative products.
Contact details:
Anton Katin
Email: [email protected]
https://simba.storage/gold
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136984
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
The post Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI appeared first on HIPTHER Alerts.
Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
The post NYSE gauges interest in 24/7 stock trading like crypto appeared first on HIPTHER Alerts.
Blockchain
Online Banking Market to Grow at CAGR of 14.20% through 2033, Key Takeaways of Digital Banking, Banking Ecosystem, Financial Giants & Disruptive Startups
-
Blockchain6 days ago
Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT)
-
Blockchain Press Releases6 days ago
Canaan Shines at Blockchain Life 2024 in Dubai
-
Blockchain5 days ago
Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics
-
Blockchain Press Releases6 days ago
Bybit Institutional Report 2024: Institutions Become Bullish and Eye Challenger Chains, while VC Funding Resurges for Infrastructure, Gaming, and AI
-
Blockchain6 days ago
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
-
Blockchain Press Releases7 days ago
Bybit and Franck Muller Partner with Sidus Heroes to Launch Cosmic Gears: A Pioneering Web3 Game with a $250,000 Prize Pool and Exclusive Watch Collection
-
Blockchain5 days ago
Crypto fans count down to bitcoin’s ‘halving’
-
Blockchain5 days ago
Tether USDT stablecoin goes live on TON blockchain