Decentralized Exchanges Doubled Trading Volume In September + More News
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Aggregate trading volume on decentralized exchanges reached USD 22.8bn in September, up from USD 11.3bn in August, which is more than a 100% increase, according to Dune Analytics. The rise recorded in August compared to July was also substantial - 163%. There is a continual rise since April 2020's USD 667m, likely fuelled by the rising interest in decentralized finance (DeFi).
Crypto adoption news
- The Celo Foundation, a nonprofit supporting the development of the mobile-first Celo blockchain platform, and tBTC, which enables bitcoin (BTC) holders to act on the Ethereum (ETH) blockchain, announced a creation of a bridge between Bitcoin and the Celo platform. Per the announcement, this bridge allows BTC to be used in the Celo Reserve (USD 300m in value) to collateralize cUSD and other soon-to-launch algorithmic stablecoins.
- Recently launched 4th generation crypto wallet ecosystem Klever announced a fiat on-ramp, as it has partnered with payment processor Simplex to enable debit and credit card purchases of Klever's native KLV and other cryptoassets via the "Buy Crypto" option in the Klever Browser, said the announcement. The integration includes Simplex's anti-fraud engine. The new partners are also exploring other opportunities, including a fiat off-ramp inside Klever App, as well as other areas of cross-platform cooperation, they added.
- The Bank of China, one of the Middle Kingdom’s big-four state-owned commercial banks, is claiming that its blockchain-powered cross-border trade financing project with the new Hainan Free Trade Port, in Hainan, is proving a success. Per East Money, the bank’s Hainan branch has already handled a total of 60 foreign exchange-related trade deals for seven companies based in the new port area since the pilot was launched late last year – with the deals totaling a combined USD 96m.
- Alibaba’s blockchain subsidiary, the Ant Group, has provided a blockchain traceability solution for a Malaysian mooncake supplier – in time for the Mid-Autumn Festival (the Harvest Moon celebration, a national holiday that concludes today across Asia), reported
- East Money. The mooncake maker is using a new Ant Group-masterminded platform, co-run in Malaysia by the mobile carrier XOX. Mooncake is a much-loved delicacy enjoyed across the continent, and typically has a shelf life of a year. However, consumers have expressed concerns that unscrupulous vendors have falsified sell-by dates, Halal certificates, and more – with the operators of the new blockchain-powered solution promising to allay such fears.
- Eight companies are set to launch their dapps and services on a blockchain network launched by Line, the biggest chat app operator in Japan. Per an official release, the dapps to be launched on the Line Blockchain network will include a karaoke platform, several blockchain-powered game titles, an e-sports streaming service, a contract-drafting solution, and a photo-sharing app.
- Major interactive entertainment producer Atari has announced an agreement with Bitcoin.com exchange for a public sale and the listing of the Atari Token (ATRI). According to the press release, the public token offering is planned for November 2020, while the exchange will release more details in the next few weeks. Two rounds of pre-sales have been closed already, for the amounts of USD 514,000 and USD 1m, respectively. The third round of private sales is currently live and will close before the public sale.