Blockchain
VersaBank Initiates Closed Ecosystem Testing of Revolutionary VCAD Digital Deposit Receipts on Stellar Blockchain
VersaBank (“VersaBank” or the “Bank”) (TSX: VB), a leader in digital banking and cyber security solutions, today announced that it has initiated closed ecosystem testing of its VCAD Digital Deposit Receipts (DDRs) to validate the security, processes, procedures and protocols. Testing is being conducted in partnership with VersaBank’s partner for VCAD, Stablecorp, with transactions initially occurring on the public and live Stellar blockchain, and plans to execute similar transactions on the Algorand blockchain in the near future.
Under the closed ecosystem testing, the Bank employed a de minimis amount of its own Canadian dollar funds as a deposit to issue the equivalent digital deposit receipts in the form of 50,000 VCADs, which have been “minted” using the Stellar blockchain. A limited number of designated VersaBank personnel were provided with these VCADs to test real-world use by engaging in actual person-to-person transactions, such as paying for theoretical goods or service. The VersaBank personnel will, as part of ongoing tests, redeem VCADs, which will be “burned”, and the Canadian dollars on deposit released. As will be the case when VCAD is commercially launched to the general public, critical steps in the VCAD minting and burning processes are verified using VersaBank’s VersaVault®, which enables regimented approval of such steps by multiple personnel, ensuring the integrity of the processes and transactions. Any VCADs minted during the closed ecosystem test will at all times be in the control of VersaBank.
“Our closed ecosystem testing represents an important milestone toward our planned commercial launch of VCAD,” said David Taylor, President and Chief Executive Officer, VersaBank. “We look forward to reporting on the outcome of the testing when completed.”
Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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