Blockchain
Fintech Wirex Adds WXT to Ethereum in DeFi Push
Digital payments platform, Wirex, has announced the migration of a fifth of their popular native token, the Wirex Token (WXT), from the Stellar Network to the Ethereum blockchain. Following the successful launch of WXT two years ago, Wirex will move 20% of the total supply to allow greater access to the benefits of decentralised finance (DeFi) for Wirex users and beyond.
The London-based company has been on a mission to bring decentralised digital currency to the masses since its launch in 2014. Innovation has been at the core of their growth, developing an industry-leading platform that empowers their 3.5 million customers to have easy access to crypto in everyday life. They’ve already made headlines for becoming the first company in the world to develop a crypto-enabled debit card, the first crypto rewards programme, Cryptoback™, and by becoming the first crypto-friendly company to achieve principal membership of Mastercard.
As the crypto space evolves and the use of decentralised apps (Dapps) explodes, today’s development endeavours to bring the benefits of DeFi to a mainstream audience. WXT will become a unique multi-blockchain cryptocurrency, as the company migrates 20% of its total supply (2 billion WXT) from the Stellar Network to the Ethereum blockchain. The move will present a huge range of benefits to holders of WXT, including increased power, efficiency and flexibility, whilst giving more people access to DeFi with the ability to utilise WXT on a multitude of Dapps.
Pavel Matveev, the CEO and Co-Founder of Wirex, commented on this landmark moment:
“Wirex without innovation isn’t an option. We’ve always believed in the potential for DeFi to change the way people think about and use money, and making WXT available on the most popular and powerful blockchain for DeFi applications is a no-brainer. At Wirex, our role is to make DeFi tangible, safe and accessible for our customers to use in real life. Listing a percentage of our WXT token on the Ethereum network will allow additional innovations for our customers.”
Wirex successfully launched WXT on the Stellar network in June 2019. As the go-to network for super-powered cross-border payments, the partnership helped Wirex to bring low-cost, near-instant payments to the mainstream. With blockchain technology having much broader applications than just payments, the decision was made to widen access to DeFi and allow customers to get more out of the Wirex platform. Matveev adds:
“As a crypto-friendly business, we don’t advocate any one platform or currency, rather the ability to choose the best financial products that match the needs of our customers.”
The announcement is just part of Wirex’s wider commitment to the DeFi movement and mass adoption of crypto. The company has plans to launch other DeFi features through 2021, including the addition of new DeFi coins on the platform, as well as the launch of X-Accounts which will enable passive income from crypto on pots of money set aside in-app.
More information about the addresses and exchanges listing WXT can be found at: wirexapp.com/blog/post/wxt-added-to-ethereum-in-defi-push-0313
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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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