Today in Crypto: Banxa and Cardano’s Yoroi Wallet Enable In-app Fiat On/Off Ramping, Bybit Reveals Personality-Based Trading NFT/USDT Competition
Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.
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Wallet news
- Web3 on-and-off ramp solution Banxa announced that it, in partnership with Cardano’s Yoroi Wallet, enabled in-app fiat on/off ramping to Yoroi Mobile users. Per the press release, 60% of Yoroi’s user base is currently active on mobile devices, with no way to transact ADA with cash or in exchange for it, thus being restricted to transacting only with crypto or engaging a separate crypto exchange. Integrating Banxa’s technology into the Yoroi Wallet will eliminate transaction limitations and the need to leave the application. Developed by EMURGO Fintech, a branch dedicated to creating financial products within the Cardano Web3 ecosystem, Yoroi Wallet now integrates seamlessly with Banxa’s compliant on/off-ramping infrastructure, it said.
Exchange news
- Bybit is celebrating its fifth anniversary with a personality-based trading competition, the press release said. Starting on November 27 until December 25, participants can take the Archetype personality test to receive a trading personality analysis. Everyone who takes the quiz will receive a distinctive NFT avatar and the first 10,000 entrants will earn a 10 USDT voucher. With 16 unique designs and a supply of 10,000 for each, these NFTs are distributed on a first-come, first-served basis. Bybit will take a snapshot of all holders of Legend Archetype NFTs on December 25, and anyone holding one will be eligible for a share of a 10,000 USDT prize pool, the exchange said.
- OKX launched its crypto exchange and Web3 wallet platform in Brazil, providing users in that country a gateway to decentralized finance (DeFi) and crypto trading. With the launch of the OKX platform, Brazilian Real fiat-on ramp capabilities are also now available to users, the exchange said. OKX Exchange offers users a platform to trade hundreds of cryptocurrencies, as well as advanced crypto features including staking rewards and DeFi integrations. Its Web3 wallet provides access to a user-friendly self-custody portal to access and manage DeFi products, trade NFTs, use dapps, and more.
Gaming news
- Gaming startup Spielworks announced the successful acquisition of Wasder.gg, a social gaming platform boasting over 1 million users. Per the announcement, in a strategic move inspired by successful models such as Epic Games, Spielworks aims to integrate Wasder’s social foundation into the Wombat ecosystem. This initiative aims to strengthen connections among games, players, and digital asset trades, creating a dynamic and cohesive gaming community, it added. Currently, the Berlin-based Spielworks operates Wombat, AtomicHub, and the Top-20 Web3 game Dungeon Master.
Education news
- Kabuni, a provider of immersive learning, today announced Kabuni WIZARD, an education technology Web3 platform that facilitates highly personalised learning aimed at children aged 8 – 18 years. The company has also launched its utility token, Kabuni COIN, to encourage learn-to-earn concepts for both students and teachers. The press reease said that “by using spatial computing, artificial intelligence and Web3 technologies, Kabuni is driving safe and transformative evolution in the field of education.”
Scam news
- Some Hong Kong residents involved in an alleged HK$120 million (US$15.4 million) Hounax cryptocurrency scam said the warning by the Securities and Futures Commission (SFC) came too late. The securities watchdog listed the platform as suspicious after users’ money had already been locked in by an “investment deal”, according to The South China Morning Post. Lawmakers on Monday called on the government to close a legal loophole that limited the SFC’s ability to respond to platforms that are unlicensed but not banned, allowing them to continue trading within an “unregulated vacuum.” Police on Saturday revealed they had received 88 reports from 131 people who said they had lost nearly HK$120 million. The SFC added Hounax to its alert list of suspicious virtual asset trading platforms on November 1.
Blockchain news
- BNB Chain, Binance Labs, and CoinMarketCap Labs partnered to launch a new founder-focused track of the Most Valuable Builder (MVB) accelerator to incubate 100 early-stage projects. According to the announcement, this season, BNB Chain and Binance Labs welcomed CoinMarketCap’s accelerator program CMC Labs as a strategic partner. The MVB program expanded to include two tracks: the Startup Track and the newly added Founder Track. The former sees the program continuously admit and advise on new startups, facilitating the acceleration of their growth, it said. The latter serves as a venture studio committed to incubating 100 innovative ideas that address real-world needs, intended for deployment on BNB Chain, with backing from Binance Labs. Applications are open until January 15, 2024.
Career news
- World Mobile Group, a global mobile network powered by blockchain technology and the sharing economy, announced co-founder Josh Watkins as CEO at Minutes Network, a blockchain-based international voice-calling and wholesale termination service provider, leaving his position as CIO at World Mobile. Minutes Network will offer Tier 1 global carriers international termination rates and will be the first international voice-call service provider to reward consumers for making and receiving calls via its proprietary Minutes Network Token (MNT). Currently operating in stealth mode and pre-blockchain expansion, the business is terminating over one million minutes of international call traffic per month using blockchain, it said.
