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Metavize and Metabloqs form strategic partnership for 3D spatial development and architectural services in “meta-cities” on Metabloqs’ metaverse

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Metavize Technology Solutions Limited (“Metavize”) and Metabloqs announced a strategic partnership to provide 3D spatial development and architectural services to companies who are interested in investing properties and developing projects in “meta-cities” in Metabloqs. Metavize is a highly innovative full-service 3D spatial development and architectural service firm for the metaverse, while Metabloqs is a decentralized metaverse with meta-cities based on “real” cities that provide a real world, truly immersive experience.

Metabloqs’ vision is to create a unique ecosystem where users can create, own, and monetize their experiences using token “BLOQS,” the native utility token. Citizens of Metabloqs are provided with a unique passport to enter the metaverse, purchase land and rare goods such as NFTs, and create their dream projects.

The first meta-city is Meta-Paris, which is scheduled to launch in June 2022. Through this strategic partnership, Metavize will act as the official representative of Metabloqs to expand into other meta-cities in Asia through strategic investment.

“Metablogs offer high-quality 3D graphics and truly immersive experience. There will be DIY user-friendly tools on Metabloqs for users who want to build their own projects,” said Megha Shrestha, CEO of Metabloqs. “We are very pleased with our strategic partnership with Metavize. This allows us to create a stunning experience that will catch users’ eyes, offer professional 3D spatial development and architectural services to our property investors and business operators, expediting their property development cycle and improving return-on-investment.”

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“As people spend more time in the digital space for leisure, commerce, and work, their expectations of user experience in the metaverse will be much higher and one that is closer to real-life experience,” commented Michael Leung, CEO of Metavize.  “We are very excited about our partnership with Metabloqs, who by far offer the best immersive experience among other metaverses that we have seen on the market. We believe this superb user experience will become a very important driver for user adoption.”

“Metaverse takes virtual assets beyond cryptocurrency. Virtual assets from the metaverse are backed by substantial content such as land, property, products with real utilities with the metaverse ecosystem,” said Samson Lee, advisor of Metabloqs and CEO of Coinstreet Meta Solutions. “Metaverse NFT in layman’s term means ‘digital ownership certificate’ of value-back virtual assets in the metaverse that are tracked and managed by the blockchain, a ‘global decentralized computer’ which also acts as settlement system facilitating all transactions globally. We are at the very early days of market development with huge growth opportunities ahead.”

Blockchain

Europe Tax Advisory Market Valuation Poised to Soar to USD 28.50 Billion By 2032 | Astute Analytica

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Blockchain

Brazil to Tighten Regulation on Foreign Crypto Exchanges

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Brazil’s Receita Federal Increases Scrutiny on Foreign Cryptocurrency Exchanges

Brazil’s tax authority, Receita Federal, plans to intensify its oversight of foreign cryptocurrency exchanges operating within the country. This move aims to enhance regulation and transparency amid the rising use of digital assets in Latin America’s largest economy.

New Reporting Requirements for International Platforms
Recent reports indicate that Receita Federal will soon issue an order requiring international cryptocurrency platforms, including Binance and Coinbase, to provide detailed operational data and information on their partnerships with local service providers.

Government’s Regulatory Focus
Andrea Chaves, Deputy Secretary of Inspection at the Federal Revenue Service, emphasized the importance of this measure. “It’s crucial for us to understand how they operate here and ensure there’s no illegality,” she stated. The government aims to ensure compliance with tax laws and confirm that services provided to Brazilian customers are fully legal.

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Wagner Lima, a risk management coordinator at Receita Federal, underscored the need to review collaborations between foreign exchanges and local service providers. This review ensures compliance with a 2019 regulation that mandates information sharing.

Rise in Crypto Asset Declarations
This decision comes in response to a significant increase in crypto asset declarations by Brazilians. From January to July 2023, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, marking a 36.6% increase from the previous year. Notably, 14.5 billion reais were declared through foreign exchanges, representing a 51.2% growth.

Upcoming Order Details
The forthcoming order will require exchanges to disclose their operational methods and customer service practices in Brazil. However, it will exclude customer-specific data and transactional information to comply with current Brazilian laws.

Future Regulatory Framework
Brazilian authorities are also working on developing a clear framework for digital currencies and their legal status, expected to be introduced by mid-2024. This framework aims to organize both local and foreign exchanges operating within Brazil, ensuring their compliance with local laws and regulatory requirements.

Source: cryptotimes.io

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The post Brazil to Tighten Regulation on Foreign Crypto Exchanges appeared first on HIPTHER Alerts.

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Financial Institution NAB Embraces Crypto Custody Solution

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National Australia Bank Invests in Crypto Custody Firm Zodia Custody

National Australia Bank (NAB), a prominent financial institution, has taken a significant step into the cryptocurrency custody arena. Instead of creating its own digital currency, NAB Ventures has opted to invest in Zodia Custody, a London-based firm specializing in the secure storage of digital assets for institutional clients.

Strategic Shift and Industry Alignment
This investment marks a strategic shift for NAB, aligning itself with global financial leaders like Standard Chartered, Northern Trust, and SBI Holdings, who have already acknowledged the importance of safeguarding digital assets for investors. By partnering with Zodia Custody, NAB showcases a forward-thinking approach, choosing collaboration over direct competition with established players like Coinbase.

Commitment to Innovation
The decision to invest in Zodia Custody reflects NAB’s commitment to providing cutting-edge solutions to its institutional clients while leveraging the potential of the crypto market. This move positions NAB as a key ally for institutional investors seeking secure and regulated infrastructure to navigate the complexities of digital asset storage and management.

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Additional Insights
One significant aspect not highlighted in the initial report is that NAB’s engagement with a crypto custody solution underscores the growing demand from institutional investors for secure and regulated infrastructure to enter the crypto space.

Key Questions
1. How will NAB’s partnership with Zodia Custody impact its overall financial services and competitive position in the market?
2. What regulatory challenges and compliance requirements does NAB face by entering the crypto custody space?
3. How does NAB plan to address security concerns related to the storage of digital assets for its institutional clients?
4. What are the potential risks and rewards for NAB as it ventures into the crypto custody sector?

Key Challenges
NAB may encounter several challenges, including regulatory compliance issues, cybersecurity risks, market volatility of crypto assets, competition from existing players in the space, and the need to build trust among institutional clients for their crypto custody services.

Advantages
1. Access to a Growing Market: Entry into the rapidly expanding crypto market and potential new revenue streams.
2. Strengthened Partnerships: Enhanced relationships with global leaders in the crypto custody sector.
3. Diversification: Broadening service offerings to meet the evolving needs of institutional clients.

Disadvantages
1. Regulatory Scrutiny: Increased regulatory oversight and compliance costs.
2. Market Volatility: Exposure to the highly volatile nature of crypto assets.
3. Reputation Risk: Potential damage to reputation if security breaches or operational issues occur in the custody of digital assets.

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Source: smartphonemagazine.nl

The post Financial Institution NAB Embraces Crypto Custody Solution appeared first on HIPTHER Alerts.

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