Blockchain
Bit.Store Adds Alternative Payments and Pay-Outs Via Alchemy Pay
Asia’s leading SocialFi crypto investment platform, Bit.Store (STORE) has deepened its partnership with crypto payment provider Alchemy Pay (ACH). Further to the current credit card and paypal connections, Alchemy Pay will add popular alternative payment methods to Bit.Store including mobile wallets and domestic instant transfer services.
Furthermore, Alchemy Pay will provide Bit.Store with off-ramp capabilities, meaning their users can convert their crypto funds into over 100 local fiat currencies and have them deposited directly into their bank accounts.
These new capabilities once again highlight Alchemy Pay‘s impressive service within the industry and will elevate Bit.Store‘s app, which has already become very popular in Southeast Asia and Europe. In Indonesia, in particular, Bit.Store has become one of the top social cryptocurrency investment platforms for retail investors. The platform was launched in 2021 and has seen rapid growth. The number of users has grown 30% to 700k since the partners’ first collaborated in November 2021.
With its simple and intuitive design, Bit.Store has positioned itself as a beginner-friendly investment service that allows everyday people to access crypto conveniently and securely. The simplicity of design and functionality overcomes the barrier to entry for many and the app outshines competition by cleverly leveraging social elements and exploring a new ‘SocialFi’ model.
Bit.Store educates inexperienced investors so they can make smarter investment decisions. It embraces the web3.0 era by allowing users to create decentralized communities for the sharing of information alongside experienced and professional investors. The app has multiple groups and forums for trading discussions, as well as up-to-date news and educational items.
Bit.Store’s co-founder, Carl Moss said, “It is a big step forward to offer the flexibility of Alchemy Pay’s easy, secure payments to our users. Acceptance of mobile wallets are crucial, in particular, to our Asian users where so-called alternative payments are now becoming the dominant method. Additionally, the ability to pay-out from our platform via Alchemy Pay puts us way ahead of many of our competitors.”
Alchemy Pay now boasts over 300 fiat payment channels globally and is expected to integrate its crypto ramps on a larger scale in Q3 this year. John Tan, CEO of Alchemy Pay, said, “Our focus right now is on our ramps that are integrated onto crypto and web3 services. The ability to onboard users to platforms directly via global and local fiat payments, and then offer the chance to cash out again makes for a seamless, user-friendly experience. We are expecting to make a huge impact on the web3 movement with these ramps.”
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.
-
Blockchain7 days ago
THXLAB and IZUTSUYA Announce Strategic Partnership
-
Blockchain3 days ago
Open-Source Intelligence (OSINT) Market is expected to reach a revenue of USD 64.9 Bn by 2033, at 25.6% CAGR: Dimension Market Research
-
Blockchain Press Releases7 days ago
Bitget to Take Center Stage at Blockchain Life and Token2049 Dubai
-
Blockchain Press Releases2 days ago
Bybit and Franck Muller Partner with Sidus Heroes to Launch Cosmic Gears: A Pioneering Web3 Game with a $250,000 Prize Pool and Exclusive Watch Collection
-
Blockchain Press Releases7 days ago
Bitrue Gears Up for 2024 Bitcoin Halving with Trading Competition
-
Blockchain2 days ago
Blockchain Transforming Travel: Quantum Temple’s Innovative Venture
-
Blockchain Press Releases7 days ago
aelf Leads the Fusion of AI and Blockchain to Shape the Future of Technology
-
Blockchain2 days ago
Evolution of the Blockchain World: Doric Blockchain Drives Education and Adoption of Blockchain Technology and Tokenization in Latin America