Blockchain
Fluid Finance Announces Arbitrage Fund, Open to All
Geneva, Switzerland–(Newsfile Corp. – November 21, 2022) – Fluid Finance SA announces the launch of the world’s first tokenized arbitrage fund, open to ordinary investors in both the traditional and crypto world.
Fluid is a fintech company that uniquely bridges these two worlds, allowing users seamlessly to move between their bank accounts with Fluid and their Web3 wallets. “There is no better solution to preventing disasters than to enable users to take control of their own assets,” said Robert Sharratt, Fluid’s founder.
Fluid is built on Currencycloud, the same architecture that underpins several major banks. This provides access to over 180 currencies at the best exchange rates. Fluid is integrated into most major banking and card systems, as well as Ethereum and Arbitrum.
“People were mainly using Fluid as an on- and off-ramp for crypto. Since Fluid is basically both a bank and an exchange, it’s quicker and more convenient than transferring money to an exchange. And, since we are integrated into DEXes, not centralized exchanges, it is the cheapest way to buy crypto and puts the user in control,” comments Jessica Walker, CMO.
“That all changed when we offered digital dollars on-chain that users can also use in the traditional world,” said Tina Bielowski, who runs campaigns at Fluid. “It was a surprise to us, but viral adoption came from people who wanted to get their hands on hard currency.”
Fluid takes the difference between the official rate and the market rate for dollars in a number of countries, capturing returns normally only available to specialised hedge funds.
“We have tens of thousands of community members in Africa and see huge user growth from places like Argentina and Turkey,” said Ava Bielowski, head of community. “The secret sauce, in addition to being able to access dollars at the official rate, is our network of peer-to-peer agents and our user community. Our SME base has seen breath-taking growth, mainly driven by their ability to send digital money around the world for free with Fluid.”
Fluid’s Arbitrage Fund is being licensed as a retail mutual fund in the Cayman Islands, home to more than 75% of the world’s offshore hedge funds. Rather than start by offering the Fund to institutions or the super wealthy, Fluid is sticking to its crypto values. “We are excited to offer ordinary investors an opportunity that is usually reserved for the 1%,” Walker said.
Investors can buy the Fluid Arbitrage Fund pre-Sale token in the app, using fiat currency, or in crypto directly from the Company. The pre-sale is capped at $50 million and the earlier investors get bonus shares on conversion when the Fund launches to the general public. There are also additional bonus share awards on conversion for investors who hold $FLUID tokens.
“This is what real crypto should be about,” Sharratt said. “It has real value to users, it generates real cashflows, and the user is in control of their tokens.”
Fluid Finance is a bank alternative based in Switzerland that brings two worlds, crypto and traditional, together in one global financial super-app. Based on the idea of building a better banking model for a better world, Fluid was the first company in Switzerland to be capitalized in ETH. The Company has more than 70 (mainly tech) employees ranging from Silicon Valley to Tbilisi, Georgia. Fluid offers crypto-integrated bank accounts in Europe and the UK, with US launch planned for Q1 2023. The Company has tokenized its own shares under Swiss law and the $FLUID token trades on SushiSwap on Arbitrum.
The Fluid Arbitrage Fund is being structured as a retail mutual fund to be licensed by the Cayman Islands Monetary Authority. It is intended that the Fund will be quoted on the CSX exchange and in the Company’s app. The Company also intends to create a pool on-chain so investors can trade tokens in the Fund on launch. The Fund is not open to US Persons. Full details are available on the website.
CONTACT
Tina Bielowski
[email protected]
+41 22 731 86 66
RESOURCES
Website: fluid.ch/our-products/arbfund
Real Vision series: https://www.youtube.com/watch?v=fn7zOrBbqHc&t=1s
Chairman article: https://forbes.mc/article/web-and-flow-alexander-vik-fluid
Tokenomics: https://medium.com/fluidfi/fluid-tokenomics-and-token-utility-987feb33d01c
App: app.fluid.ch
$FLUID token: https://bit.ly/3V2KOBZ
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145093
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
The post Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety appeared first on HIPTHER Alerts.
Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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