Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Blockchain

Data reveals Slovenia is home to the most crypto enthusiasts worldwide

Published

on

 

Research has revealed the countries showing the highest interest levels in cryptocurrencies.

The study by Marketplace Fairness analyzed the volume of searches relating to ten cryptocurrencies, cryptocurrency exchanges, and blockchain platforms, to establish the countries where cryptocurrency enthusiasm is highest worldwide.

Slovenia is the country with the most intense interest in cryptocurrencies. Here, the two most popular cryptos, Bitcoin and Ethereum, were subject to a combined monthly search volume of over 118,000. With the total of the analyzed search terms coming to over 131,000 monthly searches, and compared against the country’s population of around 2.1 million, it reveals that Slovenians searched at a rate of 6,195 per 100,000 residents – the highest of all the countries that were measured.

Ireland comes in as the second most crypto-obsessed country, notably with bitcoin alone being the subject of a monthly search volume close to 150,000. With the country’s population of five million considered, the Irish searched the analyzed terms over 210,000 times monthly, at a rate of 4,193 per 100,000.

Advertisement
Stake.com

In third the United States boasts the largest sheer number of searches for these cryptos. Bitcoin received an average monthly search volume of almost 10 million while ethereum received close to 1.2 million monthly searches. The enormous grand total of searches in the US reached 12,734,750 which equates to 3,715 monthly searches per 100,000 residents.

Estonia is the fourth most crypto-keen country with bitcoin receiving a search volume exceeding 36,000 monthly. This contributed to a total search volume of approximately 48,000 which comes in as 3,626 per 100,000 Estonians.

In fifth and sixth respectively, Bermuda and Canada have very similar average per 100,000 search volumes of 3,402, and 3,373. In both of these countries, as with most, the two largest search volumes were for bitcoin and ethereum.

Australia shows the seventh highest interest level with searches for bitcoin exceeding 610,000 monthly, and those for ethereum nearing 100,000. The total average monthly searches for the analyzed cryptocurrencies, exchanges, and blockchain platforms came in at 882,500, or 3,331 per 100,000 residents.

The United Kingdom expressed the eighth-highest interest in crypto with its average search volume for the analyzed terms coming in at a huge 2,211,380. While this is the second largest sheer figure, per 100,000 residents, the UK searched at a monthly rate of 3,277.

Advertisement
Stake.com

Finland and Luxembourg make the final two top ten spots. Total monthly searches in these countries came to 2,994, and 2,981 per 100,000, respectively.

Country Total ave. monthly search volume Searches per 100k Rank
Slovenia 131,320 6195.29 1
Ireland 212,290 4192.6 2
United States 12,734,750 3741.77 3
Estonia 47,950 3626.61 4
Bermuda 2,180 3402.58 5
Canada 1,310,040 3372.67 6
Australia 882,500 3331.67 7
United Kingdom 2,221,380 3277.37 8
Finland 166,060 2994.19 9
Luxembourg 19,560 2981.93 10

Blockchain

PayPal receives New York crypto trust charter

Published

on

paypal-receives-new-york-crypto-trust-charter

The New York State Department of Financial Services (NYDFS) has granted PayPal Digital a limited purpose trust charter, a designation typically held by digital asset custodians and some stablecoin issuers.

Last August, PayPal launched its PYUSD stablecoin, marking the first stablecoin from a BigTech company. Paxos Trust Company, which also holds an NYDFS limited trust charter, currently issues the PYUSD stablecoin. Paxos has been PayPal’s partner for its cryptocurrency services since inception. Consequently, the new trust charter may signal PayPal’s intention to take over the custody of its clients’ crypto-assets and potentially move the issuance of PYUSD in-house.

Despite reaching out to PayPal for clarification on the purpose of the trust charter, no response was received before publication.

The PYUSD stablecoin is still in its early stages, with its recent integration for cross-border payments via PayPal’s Xoom app. The stablecoin’s market capitalization has grown to nearly $400 million, up from $190 million in early April. Notably, wallets associated with the issuer Paxos hold over $125 million, possibly on behalf of PayPal. The top five wallets constitute 71% of the stablecoin balance, with 17 wallets holding $1 million or more, accounting for 97% of the total holdings.

Advertisement
Stake.com

The largest holders include Paxos, Crypto.com, Curve (DeFi), Defiance Capital, and Frax (DeFi). Among these, Crypto.com holds a balance of $103 million and Bullish holds $23 million.

Additionally, in November, the SEC’s enforcement division issued a subpoena requesting documents related to the issuance of the PYUSD stablecoin.

Source: ledgerinsights.com

The post PayPal receives New York crypto trust charter appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading

Blockchain

Hong Kong SFC to conduct compliance checks on crypto firms

Published

on

hong-kong-sfc-to-conduct-compliance-checks-on-crypto-firms

The Hong Kong Securities and Futures Commission (SFC) has announced that it will conduct on-site compliance checks on local virtual asset trading platforms (VATPs) that are still completing their regulatory applications following the June 1 licensing deadline.

In a notice issued on May 28, the SFC emphasized that all local crypto trading platforms must be either licensed or “deemed-to-be-licensed” by the regulatory body before the June 1 deadline. Operating an unlicensed VATP in Hong Kong after this date will be considered a criminal offense, and the SFC will actively pursue non-compliant companies.

In the coming months, the SFC will perform on-site inspections of deemed-to-be-licensed VATP applicants to evaluate their compliance with regulatory requirements. These inspections will focus on how firms safeguard client assets and implement Know Your Customer (KYC) processes.

The SFC urged investors to trade cryptocurrencies only on SFC-licensed platforms to ensure their protection. It also cautioned companies seeking licenses against actively marketing their services or onboarding new retail clients until they are formally licensed. Additionally, firms must prevent mainland Chinese residents from accessing their services, adhering to China’s ban on cryptocurrency trading.

Advertisement
Stake.com

Earlier this month, it was reported that the number of crypto exchanges seeking operational licenses in Hong Kong had been decreasing. Eleven crypto companies and exchanges, including well-known platforms like OKX and Huobi’s local arm, withdrew their applications ahead of the deadline. Currently, only 18 applications remain pending approval.

In response to the upcoming licensing requirements, some crypto firms have proactively taken steps to ensure compliance. For example, Gate.HK, a crypto exchange, halted all activities related to acquiring new users and marketing, prevented existing users from making deposits, and began delisting tokens on May 23. The exchange plans to relaunch its services after restructuring its platform to comply with Hong Kong’s regulatory requirements.

According to the SFC, only two companies, OSL Digital Securities Limited and Hash Blockchain Limited, have been granted licenses to operate in Hong Kong so far.

Source: tradingview.com

The post Hong Kong SFC to conduct compliance checks on crypto firms appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading

Blockchain

Argentina crypto group plans to set up a blockchain valley in Buenos Aires

Published

on

argentina-crypto-group-plans-to-set-up-a-blockchain-valley-in-buenos-aires

The crypto community in Argentina is planning to establish a “blockchain valley” in Buenos Aires as part of the Crecimiento movement, which has a following of 500 individuals.

This group includes prominent figures in the country’s crypto ecosystem, such as Diego Guitérrez, co-founder of Bitcoin Layer 2 Rootstock; Marcelo Cavazzoli, CEO and co-founder of Lemon Cash, a leading crypto purchasing app in Latin America; and Elian Alvarez, a general partner at Ripio Ventures.

Significantly, Crecimiento’s core team has the support of advisors to Argentina’s new libertarian president, Javier Milei.

Crecimiento aims to create a hub for crypto and technology-oriented business founders in the capital, offering a comprehensive three-dimensional plan. This includes bringing 5 to 10 million people on-chain by offering exclusive items, boosting the number of tech-related startups, and providing necessary support.

Advertisement
Stake.com

The group’s mission is to work with Argentina’s newly crypto-friendly government to bolster the cryptocurrency sector through initiatives like tax rebates, industry investment, and simplified regulations.

During his campaign, President Milei highlighted the benefits of Bitcoin, associating it with a sense of freedom, though no formal statements have been made on the subject. Nonetheless, the group has been actively collaborating with officials to establish their crypto center in Buenos Aires.

Maria Milagros Santamaria, a Web3 lawyer, noted that regulators are showing a high level of positivity toward their proposals and are requesting specific plans regarding the crypto sector to move forward. She mentioned that there are only a few individuals opposed to the initiative, and fortunately, their numbers are minimal.

Source: cryptonewsz.com

The post Argentina crypto group plans to set up a blockchain valley in Buenos Aires appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading
Advertisement
Stake.com
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE