Blockchain
Bringing DeFi to the Masses: Launch of X-Accounts & Fireblocks Partnership
Digital payments platform, Wirex, has announced the launch of their game-changing X-Accounts feature, and partnership with Fireblocks, an industry-leading crypto provider. Set to become one of the world’s most accessible interest-paying accounts, X-Accounts will allow users to earn up to 16% on their crypto and fiat funds*.
Wirex’s long-term goal has been to make crypto ‘open to all’, offering the ability to utilise crypto in the everyday with the world’s first crypto-enabled debit card. With decentralised finance (DeFi) becoming hugely popular in recent months, the latest announcement will open up the often complex and expensive DeFi space to everyone, from hardcore crypto investors to casual, everyday users, and bring the benefits of DeFi to the mass market.
X-Accounts will allow customers to earn unprecedented levels of interest on both fiat and crypto funds* when compared to competitors and high-street banks. Avoiding the expensive fees and complicated processes often associated with DeFi and yield farming, users will have the ultimate control over their funds, with instant access, no minimum holdings and no maintenance fees for each pot.
Combined with Wirex’s other market-leading benefits, the addition of X-Accounts reaffirms the company’s vision to become the go-to crypto platform for users of all abilities. This includes consistently low fees, exclusive interbank and OTC exchange rates, free international ATM withdrawals, up to 2% Cryptoback™ rewards on card purchases, and the ability to hold multiple crypto and fiat accounts with a single intuitive app.
Further removing the complexity and trust issues often associated with owning a crypto wallet, Wirex have also announced the upcoming integration with Fireblocks’ enterprise technology to offer maximum security of user’s funds. Developing Wirex’s reputation for regulatory compliance and customer safety, the partnership will give Wirex up to $30 million of insurance on crypto assets.
Pavel Matveev, CEO and Co-Founder of Wirex, said that: “X Accounts will give everyday users easier than ever access to DeFi, offering quick cryptodeposits and high interest rates on anyone’s fiat and crypto holdings, meaning customers can sit back and watch their assets grow like never before. By working with Fireblocks to offer secure, scalable and built-in compliance protocols, customers can use X-Accounts without worrying about the risk that’s often found with many DeFi products.”
Michael Shaulov, CEO and Co-Founder of Fireblocks, describes the technology’s significance: “Maximising digital asset security is extremely important with this level of operational scale and efficiency, especially when it comes to DeFi. Building on top of the Fireblocks platform will bring an additional layer of security to Wirex’s customers as they become a part of the growing DeFi ecosystem.”
The latest news has further solidified Wirex’s support for the DeFi space, following a series of important announcements. In May, Wirex migrated 20% of their native token, WXT, to the Ethereum blockchain, and recently hosted an exclusive NFT giveaway. Since then, they’ve launched multiple ERC-20 tokens on the platform, including UNI, AAVE and MKR, with plans for many more.
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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