Sushi, the multi-chain decentralized exchange (dex), plans to launch a new high-speed derivatives exchange called Susa using Layer N’s scaling technology, Sushi revealed on Tuesday. The partnership aims to rival centralized exchanges by processing over 100,000 transactions per second with milliseconds of latency. Susa’s Debut on Layer N Promises New Era for Dex Platforms Sushi […]
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Hashgraph Association Partners With Saudi Government to Launch Deep Tech Venture Studio
The Hashgraph Association, a nonprofit organization based in Switzerland, announced on Feb. 7 that it had partnered with Saudi Arabia’s Ministry of Investment to launch a deep tech venture studio. The venture studio’s objective is to assist both Saudi and foreign companies develop innovative solutions using deep tech, such as artificial intelligence (AI), blockchain, and […]
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ENS Partners Godaddy to Link Domains and Web3 Addresses
Ethereum Name Service (ENS), a Web3 service provider, and Godaddy, a domain and web hosting company, announced they are partnering to link domains with Web3 addresses. The link between current internet domains and Ethereum-based domain services will allow users to leverage their current domain across Web3 applications, easing the entrance of newcomers to the space.
ENS Partners With Godaddy to Streamline Blockchain and Web2 Domain Integration
Ethereum Name Service (ENS), a provider of blockchain-based domain names, and Godaddy, an internet name service and web hosting company, have announced a partnership to provide an easy integration path for their services. The team-up allows Godaddy customers to use a conventional Domain Name Service (DNS) address for crypto-related transactions instead of a long standard Ethereum address, easing the onboarding of these users into the Web3 ecosystem.
The functionality was added as a new feature in Godaddy’s admin app, called crypto wallets, that allows for free linking on an active domain name with an Ethereum cryptocurrency address.
This feature is not new, as ENS has always allowed the linking of conventional domain names. However, the partnership comes with a technical innovation called Gasless DNSSEC, which facilitates this linking without paying hefty Ethereum fees, which reached up to 0.5 ETH before.
ENS qualified this move as a milestone and acknowledged that for the company to succeed, it must integrate with the current infrastructure. Nick Johnson, founder and lead developer of ENS, stated:
By pairing up ENS names and Godaddy domains, we will streamline the way users interact with web domains, blending the familiarity of the DNS with the potential of blockchain technology.
Paul Nicks, president of domains at Godaddy, also commented on the benefits this partnership will bring users, emphasizing that it brings a “unique opportunity to experience the fusion of domain names and blockchain technologies.”
ENS has registered close to 2.1 million names created since its launch, surpassing the 1 million names registered in May 2022.
What do you think about the partnership between Godaddy and ENS? Tell us in the comments section below.
New Milestone For Google And MultiversX, Partners Launch New Data Integration
In a new development for their partnership, MultiversX has announced its integration with Google BigQuery, marking a significant milestone in making blockchain data more accessible and insightful, per an official post.
MultiversX Ecosystem Gains a Boost With BigQuery Integration
This integration hints at potential growth for the MultiversX ecosystem, underscoring the network’s commitment to enhancing the user experience and assisting its developer community by providing them with new tools.
With this latest collaboration, Google replicates its role as the internet’s information custodian by making MultiversX’s blockchain data readily accessible through BigQuery. This platform operates as an enterprise-grade cloud data warehouse.
The official post claims this move will “democratize access to blockchain insights, offering unprecedented transparency and analysis capability to users and developers alike.”
Integrating BigQuery enables anyone with an account to delve into the MultiversX network’s intricacies without needing specialized software or the lengthy process of syncing the ledger.
Users can now easily query the network’s data, including details about the top 100 block producers, daily transaction counts, and much more, as seen in the chart below. This capability is expected to drive further innovation and development within the MultiversX ecosystem.
Lucian Mincu, CIO of the MultiversX Foundation, highlighted the significance of this development, stating:
Analyzing and interpreting data to reveal useful insights about product usage is a science barely explored in the web3 space. Having Google resolve a big part of the hassle for MultiversX projects is an important step towards making dApps better, more useful, and more appealing to the masses.
Google Support Accelerates MultiversX Development
In addition to data accessibility, the partnership between MultiversX and Google Cloud encompasses a wide range of initiatives to accelerate Web3 adoption and ecosystem expansion. As announced during the xDay 2023 Conference in Bucharest, Romania.
These include a startup accelerator program, hackathons, developer initiatives, and joint business developments. MultiversX’s presence at the company’s booth at GITEX Global in Dubai in 2023 exemplifies the partnership’s deepening collaboration.
The partnership also shows Google Cloud’s commitment to supporting the blockchain community, as highlighted by Daniel Rood, Head of Web3 EMEA for Google Cloud. The partnership aims to drive adoption, “accelerating” the growth of the MultiversX ecosystem and, by extension, the broader Web3 space.
With Google’s backing, MultiversX is poised for accelerated growth, bringing new opportunities for users and developers.
As blockchain technology continues to evolve, partnerships between MultiversX and Google BigQuery are pivotal in shaping the future of digital assets and Web3. By enhancing data accessibility and supporting the development community, MultiversX and Google are setting new standards for innovation and collaboration in the blockchain space.
Chart from Tradingview
Valkyrie Partners With Bitgo for Custodial Services and ‘Safekeeping of the Trust’s Bitcoin Holdings’
On Feb. 1, 2024, Valkyrie Digital Assets, a cryptocurrency asset manager, revealed in a Form 8-K submission to the U.S. Securities and Exchange Commission (SEC) that it has selected Bitgo to provide custodial services for its spot bitcoin exchange-traded fund (ETF).
Bitgo to Safekeep the Bitcoin Assets Associated With Valkyrie’s BRRR
Recently acquired by Coinshares, Valkyrie, the fund management company, declared that Bitgo will engage in “custody and safekeeping of the Trust’s bitcoin holdings,” indicating that the custodian will oversee the funds of Valkyrie’s spot bitcoin ETF. Based in Nashville, Valkyrie was among the nine newly introduced spot bitcoin ETFs that became operational concurrently with the freshly revamped bitcoin trust managed by Grayscale.
The contract stipulates that Bitgo must uphold an insurance policy, which at the very least, provides coverage against duplication and theft of private keys, internal theft or fraudulent acts by Bitgo’s staff or executives, along with the loss of keys and asset theft closely associated with Bitgo’s key custody responsibilities. Coinbase Trust Company, presently serving as the custodian, will continue to be utilized by the firm, the Form 8-K filing signed by Valkyrie’s CEO Leah Wald details.
On Jan. 11, 2024, the day Valkyrie launched its spot bitcoin ETF named BRRR, Wald stated this marked “just the beginning of a new wave,” noting that the “launch of BRRR has been in the making for nearly three years.” Currently, Valkyrie’s website shows the BRRR fund possesses 2,649.46 BTC, valued at approximately 4 million at the time of reporting. Valkyrie’s decision to partner with Bitgo leads to a broader distribution of BTC across the ten ETFs, including GBTC.
At present, Coinbase Trust Company serves as the custodian for seven of the ten spot bitcoin ETFs. Coinbase oversees the assets for Grayscale, Blackrock, Ark Invest, Bitwise, Invesco, Franklin Templeton, and Wisdomtree. Fidelity independently manages its BTC, while Vaneck’s HODL funds are secured with Gemini. Valkyrie’s recent shift introduces Bitgo into this competitive landscape.
What do you think about Valkyrie choosing Bitgo for custody services? Share your thoughts and opinions about this subject in the comments section below.
Transak Partners With Visa for Rapid Crypto to Fiat Conversion in 145 Nations
On Tuesday, Transak, a company specializing in payment infrastructure, revealed its partnership with the financial services powerhouse Visa. This collaboration aims to empower users in 145 nations with the capability to seamlessly exchange their crypto holdings into local fiat currencies, leveraging the Visa Direct platform.
Enhanced Crypto Liquidity: Transak’s Alliance with Visa Facilitates Swift Global Transfers
Transak, a provider of payment infrastructure for cryptocurrency assets and non-fungible tokens (NFTs), has entered into a partnership with the leading payment company Visa. This collaboration facilitates instant withdrawals of crypto funds to debit cards in 145 countries, as highlighted by Transak’s announcement.
“By enabling real-time card withdrawals through Visa Direct, Transak is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 130M merchant locations where Visa is accepted,” the North America head of Visa Direct and Global Ecosystem Readiness, Yanilsa Gonzalez-Ore said.
The press announcement sent to Bitcoin.com News highlights that a key attribute of Visa Direct is its capability for immediate transaction processing. This translates to the possibility of money transfers being completed in nearly 30 minutes or less, marking a notable improvement compared to conventional banking practices, which often require several days.
“Combining this with Transak’s robust infrastructure and support for over 40 cryptocurrencies, the collaboration welcomes a new dawn for those who want to quickly exit the crypto market,” the company emphasized. The partnership follows Visa’s announcement earlier this month that it will include Web3 elements in its customized loyalty program solution.
What do you think about Transak’s and Visa’s partnership? Let us know what you think about this subject in the comments section below.
Armored Truck Giant Brink’s Partners With Bitgo
Brink’s, the company famous for its armored cash trucks, has invested in Bitgo. This partnership paves the way for Brink’s and Bitgo to rapidly evolve in the digital asset industry.
Brink’s Dives Deeper Into Digital Assets With Strategic Bitgo Investment
Brink’s, the famous cash handling business known for its armored trucks, has announced a strategic investment in crypto custody firm Bitgo. This partnership indicates a strategic shift for Brink’s, traditionally known for its physical handling of cash.
While the financial specifics of this investment remain undisclosed, the collaboration positions Brink’s as Bitgo’s global logistics and vaulting provider. The partnership is seen as a step in both companies’ plans to expand and adapt in the rapidly growing digital asset industry.
“Brink’s commitment to best-in-class security makes them a valuable partner as we continue to innovate in the financial sector,” Bitgo stated in a post on X. The collaboration comes on the heels of Bitgo’s Series C funding round last August, where they raised 0 million and reached a valuation of .75 billion.
Baylor Myers, Vice President of Corporate Development at Bitgo said of the partnership:
Brinks is one of America’s most historic brands. Their commitment to best-in-class security is universally known. Bitgo is proud to join with them as we advance financial innovation both here in the USA and around the globe. Bitgo and Brinks are a natural fit, joining their tradition of security to the exciting digital future ahead.
Brink’s move into digital assets isn’t entirely new; the company began its foray by partnering with Metaco, a Swiss crypto custody firm, in 2022. This latest investment in Bitgo shows a continued commitment to the digital asset sector.
“In an increasingly digital world, it was a logical next step for Brink’s, the global leader in physical security and logistics, to partner with Bitgo, the leader in digital asset security and custody,” said Zac McKenna, Brink’s Manager of Digital Assets.
How do you think Bitgo will utilize Brink’s physical asset-based expertise? Share your thoughts and opinions about this subject in the comments section below.
Coinbase Partners With Yellow Card to Expand Access to Its Products in 20 African Countries
The leading crypto exchange Coinbase has said it will expand access to its products to 20 African countries. Coinbase also claimed that its partnership arrangement with the Africa-focused crypto exchange Yellow Card can help increase financial freedom in countries where it is lacking.
Increasing Financial Freedom
On Jan. 11, 2024, Coinbase, the U.S. cryptocurrency exchange, announced that it will expand access to its products to 20 African countries. According to a statement by Coinbase, users from the selected African countries will be able to “purchase USDC directly in our [Coinbase] Wallet app starting in February” through its partnership with the Africa-focused stablecoin platform Yellow Card.
As part of the arrangement, Yellow Card users will be able to acquire the stablecoin USDC on the Ethereum layer two (L2) chain Base. Coinbase claims that this arrangement will benefit African users, some of whom reside in inflation-hit countries, by providing them with cheaper payments and faster transfers.
Coinbase also claimed that its partnership arrangement with Yellow Card can help increase financial freedom in countries where it is lacking.
“This partnership with its emphasis on USDC will increase economic freedom in places that have lacked it, and help stand up a modern financial system where one hasn’t existed,” the crypto exchange said.
According to Coinbase, the partnership arrangement can help enhance African users’ economic freedom by making it possible for them to send remittances at fees not exceeding 2%. Currently, many Africans remitting funds to their loved ones pay fees ranging between 3% and 6%. In addition, by providing access to the USDC, the partnership will effectively connect African small and medium enterprises (SMEs) to the global financial system.
Meanwhile, Coinbase described its partnership with Yellow Card as one of its “Go Broad, Go Deep” strategies of compliant international expansion. Besides easing Coinbase’s entry into the so-called low economic freedom markets, the strategy also complements its “close engagement with local payments regulators in more mature markets.”
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What is your take on Coinbase’s foray into Africa? Let us know what you think in the comments section below.
Bank of Spain Announces Partners for Wholesale CBDC Trials
The Bank of Spain has announced that Adhara, a treasury and transactions payment platform, and a consortium formed by Cecabank and Abanca, two private banks, will be its partners in the development of several upcoming wholesale central bank digital currency (CBDC) trials, which will be complete outside of the ongoing digital euro process.
Bank of Spain Announces Wholesale CBDC Trial Partners
The Bank of Spain is moving to test a wholesale central bank digital currency (CBDC) in partnership with two tech partners. The bank recently announced that it enlisted the aid of Adhara, a Web3 company, and a consortium of two national banks, Cecabank and Abanca, to design and test different platforms involving a wholesale CBDC.
In a document, the Bank of Spain describes that Adhara will work in “the simulation of achieving interbank payments both with the same tokenized wholesale CBDC and with several wholesale CBDCs issued by different central banks.” To this end, Adhara needs to develop several CBDC infrastructures to provide wallets to the involved entities and a digital interbank payments platform.
In the case of the Abanca-Cecabank consortium, the trials will be centered around “testing the integration of a wholesale CBDC with the settlement of financial assets and providing practical evidence about the possible advantages and disadvantages of the introduction of a wholesale CBDC compared to traditional processes, procedures, and infrastructures.” This comprises the issuance, tokenization, and registration of a simulated bond on a blockchain platform managed by Cecabank.
The bank opened the calls for contributors to present their proposals more than a year ago. These tests are separated from the ongoing pilot project of the digital euro, which entered the “preparation phase” in October, which includes finalizing the digital euro rulebook and the selection of providers to develop an infrastructure for the European currency.
What do you think about the Bank of Spain’s wholesale CBDC tests? Tell us in the comments section below.
Crypto Payment Provider Alchemy Partners Payment Processor Worldpay
The fiat-crypto payment gateway Alchemy Pay recently revealed that it has partnered with Worldpay in a move that gives its users to access Worldpay’s Visa and Mastercard payment rails via its on and off-ramp service. Alchemy said its users will now experience better efficiency and customer experience when using their respective credit and debit cards to trade cryptocurrencies.
Worldpay to Support Alchemy’s NFT Checkout
Alchemy Pay, the fiat-crypto payment gateway, has joined forces with the payments processing firm Worldpay “to amplify its payment channels and elevate its payment capabilities.” According to Alchemy, this partnership allows its users to access Worldpay’s Visa and Mastercard payment rails via its on and off-ramp service.
In a statement released on Dec. 19, Alchemy said its customers should now expect better efficiency and customer experience when using their respective credit and debit cards to trade cryptocurrencies. Worldpay also plans to support Alchemy Pay’s non-fungible token (NFT) checkout thus making these tokens more accessible.
Before making the latest announcement, Alchemy revealed in late November that it had been issued with the Money Services Licence by the U.S. State of Iowa which effectively placed it in the same league as established payment providers. It has also been approved in Lithuania, Indonesia and Canada and there are plans to get licenses in the U.K. and Hong Kong.
Commenting on his company’s partnership with Worldpay, Robert McCracken, the Ecosystem Lead at Alchemy Pay, said:
Utilizing Worldpay’s extensive global reach, Alchemy Pay is now better positioned to assist our business partners and users in seamless cryptocurrency transactions worldwide, providing enhanced payment experiences and more favorable fee structures.
McCracken added that he is hopeful the collaboration will help make digital assets more widely available.
For his part, Nabil Manji, the Head of Crypto and Web3 at Worldpay, said Alchemy’s goal of fiat to the Web3 economy fits well with “Worldpay’s role in bridging the gap between traditional and digital finance.”
What are your thoughts on this story? Let us know what you think in the comments section below.