Blockchain
KuCoin Enters NFT Market with the Plan of Launching NFT Exchange
On November 13, 2020, KuCoin, an IDG backed exchange, announced that its liquidity trading platform Pool-X will open the deposit service of Dego.Finance NFT assets on November 16, and the withdrawal service on November 20. In the next few months, Pool-X will officially launch the NFT exchange platform and support NFT trading service. As the first major crypto platform to support the deposit and withdrawal of NFT assets, KuCoin will continuously contribute to the NFT industry in the long term.
NFTs (Non Fungible Tokens) have rich application scenarios in different fields such as collectibles, artwork, and GameFi. Its unique and indivisible attributes have increased market acceptance. NFT is regarded as the next trend in crypto following DeFi as its value is increasingly recognized by the market. According to a report released by the NFT data analysis website NonFungible.com, NFT transaction volume in the first half of 2020 soared to $230 million, an increase of nearly 300% year-on-year. Active users reached 78,881 with an increase of 5.7%.
KuCoin’s support on deposit and withdrawal of NFT assets indicates that NFTs will soon enter the centralized trading platform for circulation. At present, trading NFT assets is difficult for users because many of them are unfamiliar with on-chain transactions. The centralized trading platform will greatly reduce the threshold of trading NFT in an easy and user-friendly way. The centralized platforms will also become an important channel for the popularization of NFT concepts and the improvement of NFT liquidity.
Johnny Lyu, CEO of KuCoin Global, said: “KuCoin is paying close attention to the NFT market. Although NFTs don’t have enough market attention at present, the potential is great. Moreover, it has many application scenarios in insurance, bonds, options and other fields. It can even create a virtual real world on the blockchain. So, we launched the NFT Trading Board to facilitate users’ participation in investing NFT. And we donated 100,000 KCS to Dego.Finance to help its development. In the future, we will do more to solve the problems encountered in the NFT field and to build a prosperous NFT world.”
KuCoin is a global crypto exchange that supports multiple crypto asset transactions. Established in September 2017, KuCoin has grown into one of the most popular crypto exchanges in the world. It currently provides spot trading, P2P fiat trading, futures, Pool-X, and lending to its 6 million users in 207 countries and regions around the world.
SOURCE KuCoin
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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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