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EQONEX Group announces the launch of EQONEX Lending and the execution of its first institutional crypto loan

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Diginex Limited (Nasdaq: EQOS), recently rebranded as EQONEX Group (“EQONEX” or the “Company”), a digital assets financial services company, today announced the launch of its institutional crypto lending platform, EQONEX Lending, and the execution of its first crypto loan to a European crypto native institution.

The launch of the platform follows a licensing agreement with Lendingblock, a lending platform for cryptocurrencies and digital assets, under which EQONEX has integrated Lendingblock’s lending exchange technology.

EQONEX Lending brings a uniquely safe and transparent offering to the market, capable of transforming the institutional crypto lending landscape. By providing a lending exchange with an open order book, its approach differs from many other crypto lending transactions which are currently undertaken on an over-the-counter (OTC) basis with little transparency over rates – a practice that stifles competition and impedes efficient markets.

The new approach enables institutional lenders and borrowers to interact directly via a lending exchange. The open order book allows exchange participants to view market rates being offered, and establishes market-competitive terms for collateralized transactions, bringing much needed rate transparency to the market. In addition to exchange-based lending, EQONEX will also offer an OTC lending service, with prevailing rates visible on the platform.

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EQONEX Lending will also provide an automated workflow that manages the entire loan lifecycle, eliminating settlement risk, actively managing collateral to protect the lender from default risk and substantially reducing the operational risks normally associated with manual loan processing. The increasingly prominent risks associated with re-hypothecation are also eliminated as collateral assets are held in fully segregated storage in our FCA registered custodian.

Following a soft launch last month, EQONEX Lending has successfully originated and completed its first transaction, providing a Bitcoin (BTC) loan backed by USDC collateral. The platform has already developed a pipeline of loans to institutional counterparties, denominated principally in USDC, backed by collateral in BTC and Ethereum. The loans will service the fast-growing lending market, providing efficient financing for a wide range of institutions including funds, market makers, proprietary trading firms and crypto-specific firms such as miners.

The crypto borrowing and lending market has increased tenfold over the past 12 months. In 2020, crypto-backed loan volumes grew to well over $10 billion from just $1 billion in 2019, driven by increased investment activity from institutions. Much of this is conducted through a small number of custodial lenders. EQONEX Lending enables market participants to lend and borrow with EQONEX, but also directly with a broad range of other counterparties.

The EQONEX Lending platform seamlessly integrates with the rest of the EQONEX ecosystem including digital custodian Digivault, which provides fully segregated custody for loan collateral from the lending platform. Digivault recently received approval from the UK Financial Conduct Authority to register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations. EQONEX Lending will also be integrated into the crypto exchange EQONEX to provide borrowing and lending services to both retail and institutional investors.

Richard Byworth, CEO at Diginex, said: “The crypto lending market is set to be one of the fastest growing segments of the industry in the coming months and years, as institutions look to manage their capital efficiently. Lendingblock’s technology is proven to provide state of the art settlement, collateral management capabilities, and transparent pricing. EQONEX Lending will be the only platform that provides the ability to view the whole loan book, allowing clients to have the full flexibility to set their own financial terms.”

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Head of EQONEX Lending, Charlie Beach added: “We’re very excited to have launched what we think will be a transformational product for the institutional lending market, enabling a broad range of companies to come together across a safe and transparent venue that combines proven capital markets financial concepts with blockchain technology.”

Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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