Singapore vs. Binance, Investment Giant Looks for Crypto Traders + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Singapore. Source: iStock/tawatchaiprakobkit

Exchanges news

  • Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), said that Binance may be in breach of the payment services act for providing payment services to, and soliciting business from local residents, without an appropriate license, reported Bloomberg. On September 2, the exchange has been listed on the Investor Alert List, which "provides a list of unregulated persons who [...] may have been wrongly perceived as being licensed or regulated by MAS." This means that Binance isn't regulated or licensed to provide any payment services in the city-state, the regulator told Bloomberg.
  • Changpeng ‘CZ’ Zhao, CEO of Binance, said its US affiliate is targeting an initial public offering (IPO) within three years, per The Information. Zhao said he's confident that the exchange can overcome its recent regulatory and legal setbacks, while Binance.US is set to close on an unspecified large private fundraising round in the next two months that should reduce his control of the board.
  • Alexander Höptner, CEO of BitMEX, announced that last week the exchange restructured their fees, lowering the BitMEX Taker Fee from 7.5bps (0.075%) to 5bps (0.05%) on all products. They also adjusted the Maker Rebate from 2.5bps (0.025%) to 1bps (0.01%) across all the contracts on the platform. "We’re confident this will have a positive impact for all, from everyday traders to corporates and institutions, and we’ll be watching carefully to see how these changes track," they said.

Career news

  • USD 1.5tn asset manager Franklin Templeton is set for new hires who will execute trades for bitcoin (BTC) and ethereum (ETH), based on the job postings. There are at least two crypto-related jobs posted this week: one "for a Crypto Currency Trader to execute trades for several strategies using the largest, most liquid listed and tradable crypto assets (e.g., BTC, ETH, etc.)," and the other "for an investment Research Analyst - Crypto Currency to provide research coverage for the largest, most liquid listed and tradable crypto assets (e.g., BTC, ETH, etc.)."

Adoption news

  • The first cryptocurrency ATM in Honduras opened this week, locally dubbed "la bitcoinera," Reuters reported. It allows users to get bitcoin and ethereum using the local lempira currency, and was installed in an office tower in the capital of Tegucigalpa by Honduran firm TGU Consulting Group. Many software developers in Honduras are already paid in cryptocurrencies, chief executive of TGU Juan Mayen said, adding that it will also be a cheaper option to send remittances. If the service is popular, Mayen said he hoped to install more units.

Marketing news

  • Football champions FC Internazionale Milano and Zytara Labs, developer of products and platforms that leverage blockchain protocols, have signed a EUR 85m (USD 100m) multi-year product partnership agreement, with support from the DigitalBits Foundation, a non-profit organization focused DigitalBits (XDB). Per the deal, DigitalBits becomes the “Official Global Cryptocurrency” and Zytara becomes the “Official Global Digital Banking Partner” for Inter. Inter will also use the DigitalBits blockchain towards integrating and accepting XDB for payments in stadium and in Inter online and physical stores across Milan, while the partners will also leverage this blockchain to create digital player cards and digital collectibles NFTs for a global audience.
  • Mercado Bitcoin, a Latin America’s crypto and digital asset exchange, signed a sponsorship deal with Corinthians Sport Club, Brazil’s second-largest football team. The partnership is set to last until December 2022 and Mercado’s brand will be printed on the front of the team's jersey, said the press release. The deal includes financial education projects for Corinthians’ 30m-strong fanbase, and the issuing of fan tokens by, which be listed on Mercado Bitcoin, under the ticker SCCP. Fans around the world will be able to buy the SCCP to access exclusive promotional events and rewards, take part in surveys, and interact with the club in other ways, they said.

NFTs news

  • Playboy is launching a non-fungible token (NFT) series to "celebrate the brand’s editorial values of free expression, gender, sexuality, and pleasure." In partnership with Sevens Foundation, a non-profit that helps digital artists create and exhibit NFTs, the famous magazine will choose 50 winning submissions for each series, mint them, and promote them on social media. Submissions for the first in the series, “The Art of Gender and Sexuality,” close October 1.
  • The Dogecoin Foundation, the organization supporting the Dogecoin (DOGE) project, has issued a statement to distance itself from a new project called Dogecoin 2.0 (DOGE2), and calling for the project to change their name. "To protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse we have asked our brand protection lawyers to contact the developers of the ‘Dogecoin 2.0’ product," said their statement.

Investments news

  • Cybertino Lab, which created a marketplace for NFTs early this year, has secured USD 10m from institutional investors including VC firms Sky9 Capital, Zoo Capital, Draper Dragon, INCE Capital, UpHonest Capital, blockchain investment funds Divergence Ventures, SNZ, Hashed, and branded blockchain gaming investor Animoca Brands, they said. The investment will allow Cybertino Lab to further develop its platform, expand its marketing output, and create a new web 3.0 social product.
  • Technology startup SIMBA Chain said it has closed a USD 25m Series A funding round led by Valley Capital Partners. The startup offers a method for deploying blockchain technology in "the most secure and complex environments."