Blockchain
CYCLING BRAND BECOMES LATEST ADDITION TO THE FITNESS METAVERSE AND ITS UPCOMING BLOCKCHAIN CYCLING FITNESS APP
OliveX Fitness Metaverse is again this month welcoming a new addition to its virtual fitness world in The Sandbox as it introduces the popular Stages Cycling brand to the metaverse, becoming one of the first cycling brands to partner with the blockchain business.
Having recently announced partnerships with Salsation and GO24 Fitness, OliveX Fitness Metaverse has continued its rapid expansion, bringing Stages Cycling on board ahead of the launch of the world’s first audio-based blockchain cycling game – Dustland Rider.
The deal with OliveX Fitness Metaverse will see Stages Cycling’s range of well-known smart bikes, power meters and indoor cycling classes to users within The Sandbox, as well as virtual avatars, apparel and branded NFTs, giving users the ultimate experience and thrill of cycling utilising OliveX’s move-to-earn fitness model.
Launched in 2010, Stages Cycling pioneered the technology and product to allow direct force power measurement for indoor cycling and with 50-plus years of design, manufacturing, and product experience spread out over the cycling and fitness industries within its organisation, Stages are a leading voice and presence in the cycling community.
With involvement and sponsorships across all facets of cycling, from road, track, mountain, gravity and indoor riders, Stages Cycling have previously been championed by the riders of the famous Team SKY road cycling team.
Stages Cycling’s VP of Global Marketing, Paddy Murray, said of the announcement: “We believe we have a fantastic opportunity for Stages Cycling to become an innovator and thought-leader in the cycling industry as we venture into new and burgeoning spaces such as cryptocurrency, NFTs and the metaverse. We have a great team that has built an incredibly strong foundation for us to grow from and we’re really excited to be able to showcase our products, brand and passion for cycling with users in the Fitness Metaverse.”
Andy Hall, Commercial Director at OliveX, was also thrilled by the addition of Stages, saying: “The team at Stages have been really impressive to us and the technology and data skills they have within the organisation are a great asset and an exciting avenue that we can explore to integrate into our emerging metaverse technology. They are a really recognisable brand with a fantastic community of riders and their passion for health, fitness and getting people active is perfect for what we’re trying to achieve within The Sandbox.”
“We will soon be undertaking work with their US-based team of cycling experts to bring this partnership to life and showcase the facets of their business which we both believe will encourage and motivate users to become more active and reach out for the dusty road bike in their sheds that they have forgotten about.”
Stages Cycling will be accompanied in the Fitness Metaverse by OliveX’s other acquisition within the fitness world such as TRIB3, GymAesthetics, PlayInnovation, GO24 Fitness, Salsation, TRAX, with more to come, bringing trademarked products and experiences to the platform to foster greater physical activity in the real-world.
Andy adds: “Our Fitness Metaverse portfolio is growing fast and Stages have added a strong, passionate and intelligent cycling addition to our platform, which I’m sure our already engaged community of fitness enthusiasts will thoroughly enjoy. With Stages inclusion to the Fitness Metaverse, we are constructing an immersive, fun and positive community of fitness organisations that will appeal to users of all ages, abilities and interests. We can’t wait to get started and begin working with them as soon as possible.”
OliveX and Stages Cycling will work together over the coming months to launch a version of the brand’s products and ambassadors in the metaverse, complete with the best cycling avatars available in The Sandbox, encouraging physical activity and driving revenue to the business.
OliveX and Stages Cycling will be working together to launch into the Fitness Metaverse later in 2022.
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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.
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