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Blockchain

Shido Launches Next-Generation Cross-Chain DeFi Ecosystem and Crypto Trading Platform

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Shido is an emerging crypto and blockchain technology platform. Recently, the company introduced its Ecosystem and various DeFi Utilities.

Stockholm, Sweden–(Newsfile Corp. – February 3, 2023) – Shido, the next-generation Cross-Chain DeFi Ecosystem, announces the launch of its innovative platform and suite of DeFi utilities. The ecosystem includes the Shido Chain, a Layer 1 Sharded PoS Blockchain that is Smart Contract based and offers the perfect balance of security, decentralization and superior TPS. The ecosystem also includes the 

Shido Wallet

In addition to the wallet, Shido offers the Shido MasterCard, a Crypto Debit Card and Banking Service available in over 150 countries worldwide. The Shido Dex is a decentralized exchange and DeFi aggregator, and the Shido Perpetual Dex is a next-generation V2 layer offering perpetual trading and collateralized loans. The Shido Market NFT is an innovative open NFT marketplace and the Shido Games P2E is set to revolutionize the P2E gaming world.

Shido Blockchain is powered by Shido Smart Contract and is deployed on the Binance Smart Chain (BSC), one of the world’s leading blockchains for DeFi. Shido’s liquidity pools are safely locked at Mudra Manager (BSC) and Team Finance (ETH) for 100 years. The company launched with a fair launch, with no presale or private sale, and has grown organically with a strong foundation. Shido recently expanded to the Ethereum Network, opening new investment opportunities and the possibility for its cross-chain ecosystem.

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Shido MasterCard

Furthermore, Shido Finance will launch a series of utilities and platforms over the coming months, generating revenue independently and providing value to its users and investors. The experienced team behind Shido is fully Doxxed and the company’s smart contracts are fully audited.

With the new developments, the company is excited to launch the next-generation Cross-Chain DeFi Ecosystem and offer its users a unique and powerful suite of DeFi utilities. The focus of Shido Ecosystem is on security, quality and usability, and the team is committed to bringing DeFi one step closer to mass adoption.

In conclusion, the team behind Shido is dedicated to delivering an exceptional project that meets the expectations of the community. With experienced members, the company strives for transparency and open communication. Shido is constantly looking for talented individuals to join the team and help them achieve their goals.

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About the Company – Shido

The formation of the Shido Ecosystem began in the autumn of 2021, as a team of knowledgeable crypto developers and investors joined forces to create the ideal crypto project. Their mission is to provide a secure and accessible entry into the world of cryptocurrency for investors, bridging the gap between traditional finance and digital assets. With Shido, growing wealth and earning passive income has never been easier. The company is just starting its journey and looks forward to working with its community to achieve its goals. Join the Shido community through any of its social platforms.

Potential users can visit the following links for further details:

Website | Twitter | Telegram

Media Details:
Company Name: Shido Finance Ltd.
Person Name: Bjorn Bonnevier
Address: Stockholm, Sweden
Email Address: [email protected]
Website: https://www.shido.io/

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153432

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

PayPal receives New York crypto trust charter

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The New York State Department of Financial Services (NYDFS) has granted PayPal Digital a limited purpose trust charter, a designation typically held by digital asset custodians and some stablecoin issuers.

Last August, PayPal launched its PYUSD stablecoin, marking the first stablecoin from a BigTech company. Paxos Trust Company, which also holds an NYDFS limited trust charter, currently issues the PYUSD stablecoin. Paxos has been PayPal’s partner for its cryptocurrency services since inception. Consequently, the new trust charter may signal PayPal’s intention to take over the custody of its clients’ crypto-assets and potentially move the issuance of PYUSD in-house.

Despite reaching out to PayPal for clarification on the purpose of the trust charter, no response was received before publication.

The PYUSD stablecoin is still in its early stages, with its recent integration for cross-border payments via PayPal’s Xoom app. The stablecoin’s market capitalization has grown to nearly $400 million, up from $190 million in early April. Notably, wallets associated with the issuer Paxos hold over $125 million, possibly on behalf of PayPal. The top five wallets constitute 71% of the stablecoin balance, with 17 wallets holding $1 million or more, accounting for 97% of the total holdings.

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The largest holders include Paxos, Crypto.com, Curve (DeFi), Defiance Capital, and Frax (DeFi). Among these, Crypto.com holds a balance of $103 million and Bullish holds $23 million.

Additionally, in November, the SEC’s enforcement division issued a subpoena requesting documents related to the issuance of the PYUSD stablecoin.

Source: ledgerinsights.com

The post PayPal receives New York crypto trust charter appeared first on HIPTHER Alerts.

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Hong Kong SFC to conduct compliance checks on crypto firms

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The Hong Kong Securities and Futures Commission (SFC) has announced that it will conduct on-site compliance checks on local virtual asset trading platforms (VATPs) that are still completing their regulatory applications following the June 1 licensing deadline.

In a notice issued on May 28, the SFC emphasized that all local crypto trading platforms must be either licensed or “deemed-to-be-licensed” by the regulatory body before the June 1 deadline. Operating an unlicensed VATP in Hong Kong after this date will be considered a criminal offense, and the SFC will actively pursue non-compliant companies.

In the coming months, the SFC will perform on-site inspections of deemed-to-be-licensed VATP applicants to evaluate their compliance with regulatory requirements. These inspections will focus on how firms safeguard client assets and implement Know Your Customer (KYC) processes.

The SFC urged investors to trade cryptocurrencies only on SFC-licensed platforms to ensure their protection. It also cautioned companies seeking licenses against actively marketing their services or onboarding new retail clients until they are formally licensed. Additionally, firms must prevent mainland Chinese residents from accessing their services, adhering to China’s ban on cryptocurrency trading.

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Earlier this month, it was reported that the number of crypto exchanges seeking operational licenses in Hong Kong had been decreasing. Eleven crypto companies and exchanges, including well-known platforms like OKX and Huobi’s local arm, withdrew their applications ahead of the deadline. Currently, only 18 applications remain pending approval.

In response to the upcoming licensing requirements, some crypto firms have proactively taken steps to ensure compliance. For example, Gate.HK, a crypto exchange, halted all activities related to acquiring new users and marketing, prevented existing users from making deposits, and began delisting tokens on May 23. The exchange plans to relaunch its services after restructuring its platform to comply with Hong Kong’s regulatory requirements.

According to the SFC, only two companies, OSL Digital Securities Limited and Hash Blockchain Limited, have been granted licenses to operate in Hong Kong so far.

Source: tradingview.com

The post Hong Kong SFC to conduct compliance checks on crypto firms appeared first on HIPTHER Alerts.

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Blockchain

Argentina crypto group plans to set up a blockchain valley in Buenos Aires

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The crypto community in Argentina is planning to establish a “blockchain valley” in Buenos Aires as part of the Crecimiento movement, which has a following of 500 individuals.

This group includes prominent figures in the country’s crypto ecosystem, such as Diego Guitérrez, co-founder of Bitcoin Layer 2 Rootstock; Marcelo Cavazzoli, CEO and co-founder of Lemon Cash, a leading crypto purchasing app in Latin America; and Elian Alvarez, a general partner at Ripio Ventures.

Significantly, Crecimiento’s core team has the support of advisors to Argentina’s new libertarian president, Javier Milei.

Crecimiento aims to create a hub for crypto and technology-oriented business founders in the capital, offering a comprehensive three-dimensional plan. This includes bringing 5 to 10 million people on-chain by offering exclusive items, boosting the number of tech-related startups, and providing necessary support.

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The group’s mission is to work with Argentina’s newly crypto-friendly government to bolster the cryptocurrency sector through initiatives like tax rebates, industry investment, and simplified regulations.

During his campaign, President Milei highlighted the benefits of Bitcoin, associating it with a sense of freedom, though no formal statements have been made on the subject. Nonetheless, the group has been actively collaborating with officials to establish their crypto center in Buenos Aires.

Maria Milagros Santamaria, a Web3 lawyer, noted that regulators are showing a high level of positivity toward their proposals and are requesting specific plans regarding the crypto sector to move forward. She mentioned that there are only a few individuals opposed to the initiative, and fortunately, their numbers are minimal.

Source: cryptonewsz.com

The post Argentina crypto group plans to set up a blockchain valley in Buenos Aires appeared first on HIPTHER Alerts.

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