Kyber Network Is Enabling Merchant Payments in Any Ethereum Token 1670

It’s a number that is growing by the hundreds every day, but the trouble is, according to Loi Luu, the CEO and co-founder of decentralized exchange Kyber Network, the majority of those tokens fall short of a practical use case.

“What we observe is that most tokens are used only on exchanges for trading purposes or within their own specific platforms if the platform is live,” Luu said.

Luu wants to change that and unlock the potential of ERC-20 tokens to be used for payments. And to do that, Luu revealed exclusively to CoinDesk, Kyber Network will be extending the on-chain liquidity smart contract which underlies its decentralized exchange to allow businesses to accept payments through any ERC-20 out there.

Luu told, “Our main goal is to make tokens usable anywhere.”

In practice, this means businesses can accept payments in any ethereum token, and that token can be instantly converted into any other token as well. And Luu has some experience to back up their ambition. For one, he’s known for founding ethereum security tool Oyente and building a protocol that uses a scaling solution, sharding, for the enterprise blockchain Zilliqa, before going on it found Kyber Network, that facilitates instant ethereum token swaps on its decentralized exchange (a term, while long a dream in the industry, has failed as of yet to live up to expectations).

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Polymer Launches Real-Time Interoperability For Ethereum Rollups 4953

Polymer Labs has officially launched Polymer Hub, a real-time interoperability protocol for connecting all Ethereum rollups. By streaming messages, states, and logs over IBC primitives (equivalent to Web2’s TCP/IP), Polymer Hub verifies and stores the headers of all connected rollups, allowing applications to prove any arbitrary state across rollups at vastly reduced overhead.

Rollup/L2 ecosystems have historically connected only within their own walled gardens; with Polymer, however, rollups can now communicate across ecosystems and coordinate as fast as they can produce blocks. The protocol offers significant improvements in cross-chain communication latency, bandwidth, and cost for all on-chain primitives compared to existing solutions.

Polymer aims to make cross-chain interoperability as fast, efficient, and affordable as blockspace itself, enabling Ethereum applications to scale to the next million users.

Increase Bandwidth Reduce Latency

Real-time, high-throughput rollups are right around the corner, but existing interoperability protocols (point-to-point and hub-and-spoke models) were not designed to support dense network traffic across hundreds of rollups. According to the team, existing solutions are too slow and expensive for the next generation of applications on Ethereum. As we enter this new era, interoperability solutions must complement their speed and efficiency. Real-time apps require real-time interoperability.

Polymer aims to build the fastest and most efficient interoperability protocol for next-generation rollups like MegaETH. The Hub passes messages in real-time via sequencer pre-confirmations, ensuring cross-chain communication latency can keep up with millisecond block times of these rollups. Polymer also leverages EigenDA to scale cross-rollup bandwidth to facilitate data-intensive use cases on-chain.

“Real-timeness, the ability to react to inputs with ultra-low latency at massive scale, will enable truly ground-breaking decentralized applications. Readying the infra stack for this revolution will be a joint effort, in which real-time interoperability from Polymer will be crucial.” – Lei Yang (Cofounder & CTO MegaETH)

Various technologies like shared sequencers and ecosystem-native interoperability intra-nets have fragmented Ethereum into rollup clusters; these clusters, however, can leverage Polymer Hub’s one-to-all architecture to become interoperable with each other within minutes, rather than months. Polymer Hub is also the first interoperability solution to offer re-org protection. This helps enable token bridges and solver networks to safely settle cross-chain transactions in milliseconds and automatically revert them if they deviate from Ethereum’s L1 history.

Looking Ahead

The next generation of on-chain applications will closely follow the architecture of cloud apps: rollups are the new microservices, AVSs are the new infrastructure services. To enable horizontal scaling on-chain, cross-chain infrastructure must be low-latency, high-bandwidth, and affordably scalable.

The Polymer team seeks to improve interoperability performance in order to enable competitive, novel categories of applications, such as high throughput e-commerce and ride-sharing, to be built on-chain.

“Building interoperable applications that don’t trade off cost or latency is a requirement to make crypto usable again. At scale, this connective layer needs to be as robust and secure as the Ethereum base layer itself, and Polymer has been uncompromising in achieving this vision.” – Vikram Arun (Cofounder & CEO Superform Labs)

Starting with the OP stack, Polymer plans to bring real-time interoperability to all rollup ecosystems on Ethereum—enabling swift and cost-effective scaling for applications in the near future.

About

Polymer Labs provides real-time, high-throughput interoperability for Ethereum rollups. Polymer lays foundational network infrastructure enabling the next generation of internet-scale apps like Uber to be built on-chain.

AEON Teams up with FDUSD and Terminus to Empower Crypto Payments Across Southeast Asia 4961

AEON, the next generation payment protocol, has teamed up with First Digital Labs, issuer of First Digital USD (FDUSD), a reserve-backed stablecoin redeemable on a one-to-one basis for cash, to bring seamless crypto payment options to Southeast Asia. This collaboration makes it possible for users to pay with FDUSD at offline merchants, using AEON’s easy-to-use QR code payment system, which simplifies the payment process for both consumers and businesses and expands the payment scenarios for FDUSD.

The AEON payment solution integrates directly with regional payment networks, such as VietQR in Vietnam and ThaiQR in Thailand, ensuring wide accessibility in collaboration with Terminus, a pioneering Payment Association. Merchants can easily adopt AEON’s system without any new hardware, with crypto payments automatically converted to local fiat currency. This makes it possible for users to pay with FDUSD by simply scanning a QR code, promoting the use of crypto for everyday purchases across a variety of retail and service sectors.

As part of this initiative, AEON will also launch a special offline payment campaign in Southeast Asia. During the campaign, users can experience the ease of AEON’s scan-to-pay system at select merchant locations, where FDUSD payments will be processed seamlessly through QR codes.

This joint effort with FDUSD marks a major advancement in making cryptocurrency a practical choice for daily transactions in Southeast Asia. AEON, FDUSD, and Terminus are joining forces to expand crypto accessibility and facilitate its adoption, bringing effortless in-store purchases for users and broadening the impact of blockchain technology in mainstream commerce. This initiative demonstrates a collective dedication to fostering a more inclusive and connected digital economy.

About First Digital Labs

First Digital Labs is the brand name of FD121 Limited, a Hong Kong-registered subsidiary under the First Digital Group. First Digital Labs is building a portfolio of stablecoins with uncompromising trust from Asia, designed to meet the needs of global businesses and institutions to facilitate efficient and compliant global expansion, cross-border payments and trade settlements.

About FDUSD

First Digital USD (FDUSD) is a fully 1:1 USD-backed stablecoin with uncompromising trust by design offering integrity, accessibility and scalability. FDUSD is always redeemable on a one-to-one basis for cash. Reserves are fully backed by highly liquid cash and cash equivalent assets, held in fully segregated bankruptcy-remote holding structures. Collateral is safeguarded by a top-tier, qualified custodian with a trust license for seamless asset protection and regulatory compliance, with independent attestation reports published monthly. FDUSD is issued onshore out of Asia, is the first native stablecoin on the Sui network and is currently available on Ethereum and BNB Chain. FDUSD has since become one of the top five USD-denominated stablecoins by market cap. To learn more about FDUSD, visit www.firstdigitallabs.com

About Terminus

The Terminus Payment Association is pioneering the convergence of Web3 and the real-world economy, revolutionizing how people pay offline merchants. Led by visionary initiators in public chain, crypto payment aggregation, and PayFi protocol, it seamlessly connects cryptocurrency ecosystems with everyday retail transactions through banks, e-wallets, and fiat settlement networks. Through its groundbreaking Universal Payment system, users can effortlessly pay in crypto at local shops, restaurants, and merchants who receive fiat currency using their existing QR codes. Launching in Thailand and expanding across Asia-Pacific, Terminus is transforming crypto payments from a niche technology into an accessible reality of daily life.

About AEON

AEON is a next-generation payment protocol designed to unify the standard of crypto payments and enable real-world connectivity. By simplifying the integration, processing, and settlement of crypto payments, AEON offers low-cost, verifiable, and secure payment processing.

Developing a robust crypto payment standard akin to Visa, AEON aims to connect web3 infrastructures with mass adoption use cases, ensuring adaptability, liquidity, and efficiency and supporting on-chain payment methods such as subscriptions, global fiat rails, and tips.

Baby Popcat Introduces $BABYPOPCAT, a Meme Token With a Unique, Interactive “Pop the Cat” Game 5546

Baby PopCat ($BABYPOPCAT), a fun, interactive meme coin, has launched a unique game named “Pop the Cat.” The game is hosted on the official website of Baby PopCat meme coin, offering a fun way to engage with $BABYPOPCAT token engagement by blending playful interaction with token-earning opportunities.

The token, which operates on the Solana blockchain, can be identified on the DEX Screener under the contract address 4WJkHFWx5RQuMpLtYpDGYFSj4rNJ3hJCwVXqm8Xnpump. Available for trading, Baby PopCat is accessible on decentralized platforms and has established a growing online presence through its official social media channels, including Twitter (X) and Telegram, providing active and potential holders with updates, community discussions, and more.

Baby PopCat is a fun, community-driven Solana blockchain token designed to unite meme culture and cryptocurrency. The highlight of Baby PopCat is its website-based game “Pop the Cat,” which combines entertainment with real rewards for its growing community. Here, users earn tokens simply by tapping on an animated baby cat, which is a nod to the viral PopCat meme. Every tap on the animated cat triggers a pop sound and rewards players with $BABYPOPCAT tokens, making it both a humorous and potentially rewarding experience. The “pop to earn” aspect is formulated to connect meme lovers and crypto enthusiasts, offering an experience that blends both entertainment and cryptocurrency’s earning potential.

Baby PopCat sets itself apart in meme tokens with its engaging, user-driven earning mechanism. “$BABYPOPCAT is not just another meme token but an interactive experience where users can truly engage with the token. We wanted to create something fun where the community can play, laugh, and be rewarded for their interaction,” explains the Baby PopCat team. The team emphasizes that Baby PopCat’s vision is to introduce an innovative way to interact with meme tokens, where engagement on the website translates to real rewards in holders’ wallets.

The Baby PopCat community has been active across platforms, sharing tips and scores from the game while celebrating milestones in token distribution. This focus on community interaction is at the heart of Baby PopCat’s model, bringing together crypto enthusiasts who share a love for meme culture and an interest in decentralized finance.

Interested users can view Baby PopCat’s token performance on Solscan or DEX Screener, where real-time charts reflect the token activity. The Baby PopCat website also features a “Buy Now” link, allowing users to easily acquire $BABYPOPCAT through Jup.ag, streamlining the process for those new to Solana or decentralized exchanges.

For more information and updates, follow Baby PopCat on Twitter at https://x.com/BabyPOPCATxyz, join the community conversation on Telegram at https://t.me/BabyPOPCATxyz, or visit the official website at https://babypopcatsol.xyz.

With Baby PopCat, cryptocurrency takes on a playful twist, adding a layer of entertainment and interaction that appeals to casual users and serious traders alike.

Website: https://babypopcatsol.xyz/

UBS Asset Management launches its first tokenised Money Market Fund, available through DigiFT 5635

UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner, DigiFT.

With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services, that seeks to open the door to the world of decentralized finance to a broader range of market participants.

“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.

As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.

DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.

About DigiFT

DigiFT is the first exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore. Find out more www.digift.sg

Paxos Introduces Global Dollar (USDG) 4919

Paxos, the leading regulated blockchain and tokenization infrastructure platform, today introduced Global Dollar (USDG) – a US dollar-backed stablecoin that is substantively compliant with MAS’ upcoming stablecoin framework. Paxos Digital Singapore Pte. Ltd. is the issuer of USDG and is regulated by the Monetary Authority of Singapore (MAS). Paxos’s affiliate, Paxos Global Pte. Ltd., will partner with global exchanges, wallets and platforms to distribute USDG to individuals and institutions.

USDG is a new, safe and trusted stablecoin that will accelerate the global adoption of stablecoins. It is designed to support the needs of regulated institutions that maintain higher standards of operation. USDG is available today on Ethereum and will be issued on more blockchains in the near term. Paxos is required to hold only high-quality liquid assets to back USDG – US dollar deposits, short duration US Government securities and other such cash equivalents. This ensures USDG maintains 1:1 parity with the US dollar and consumers can redeem their tokens for fiat at all times.

Ronak Daya, Head of Product at Paxos, said: “Enterprise interest in stablecoins has never been higher than it is today, but the market lacks a solution that combines regulatory compliance with real economic incentives for enterprises. Keeping with the Paxos tradition of powering infrastructure for the world’s most important and innovative enterprises, we are thrilled to launch the Global Dollar (USDG). USDG offers a trusted solution with a top-tier banking partner in DBS that will be the catalyst to drive stablecoin innovation and enterprise adoption at a global scale.”

Paxos has a strong track record of building blockchain solutions that financial industry leaders can trust. USDG represents the sixth digital asset to be successfully issued by Paxos, the first from Paxos Digital Singapore. Its digital assets include PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG), which are issued by Paxos Trust Company, LLC, a limited purpose trust company overseen by the New York Department of Financial Services. Paxos International, a UAE-based affiliate of Paxos regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), issues the yield-bearing stablecoin Lift Dollar (USDL). Each of these assets provides users with a quality, 1:1 asset parity overseen by the highest levels of regulatory oversight. The company is the trusted partner for enterprises around the world to tokenize, custody, trade and settle assets.

DBS Bank, Southeast Asia’s largest bank by assets and recognized as the Safest Bank in Asia for 16 consecutive years by Global Finance, will serve as Paxos’ primary banking partner for cash management and custody of USDG reserves. Dollars backing USDG will be held in reserve and managed by Paxos Digital Singapore via DBS.

The smart contract of USDG can be viewed via Etherscan and GitHub. Businesses interested in learning more about Global Dollar can contact the team at www.globaldollar.com.

About Paxos

Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.

Paxos partners with leading global enterprises to tokenize, custody and trade assets. Its blockchain solutions are used by leaders like PayPal, Interactive Brokers, Mastercard, Mercado Libre and Nubank. Paxos is licensed to engage in virtual currency business activity by the NYDFS and is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). Its affiliate company Paxos International issues the yield-bearing regulated stablecoin Lift Dollar (USDL). Prudentially regulated by the NYDFS in the US, the MAS in Singapore and FSRA in Abu Dhabi Global Market, Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures.

FDUSD Expands to the Solana Blockchain to Further Strengthen and Bolster Access 4656

First Digital Group (“First Digital” or the “Group”), a leader in digital asset custody and trust services in Asia and parent company of FD121 Limited (also known as First Digital Labs), announces that First Digital USD (“FDUSD”) will be natively deployed to the Solana blockchain, further strengthening and bolstering access to the stablecoin.

The announcement was made at Binance Blockchain Week 2024, marking a significant milestone in First Digital’s commitment to delivering fast, secure, and cost-effective stablecoin transactions for global users. By integrating with Solana’s high-performance blockchain, FDUSD will leverage Solana’s ultra-fast transaction speeds, low fees and high scalability to meet growing demand for accessible, cross-chain stablecoin solutions by end of 2024.

As a fast-growing challenger in the stablecoin arena, FDUSD continues to provide diverse options to users and partners. By adding Solana to its growing list of supported blockchain networks, FDUSD will empower both retail and institutional users to take advantage of Solana’s scalability, unlocking new possibilities for cross-border payments, decentralised finance (DeFi), and everyday transactions.

With Solana’s impressive processing speed—capable of handling up to 65,000 transactions per second—users can experience near-instant transaction confirmations. This integration aims to support applications in areas such as DeFi and payments, driving greater utility and adoption of FDUSD across both emerging and established markets.

Vincent Chok, CEO and Founder of First Digital commented: “Expanding FDUSD onto Solana represents a significant step in our mission to enhance its accessibility, availability and utility across multiple blockchain ecosystems. Solana’s robust and scalable infrastructure will allow us to deliver even greater value to our users, supporting a wider range of financial use cases and enabling faster, more efficient transactions.”

Lily Liu, President of Solana Foundation, added: “As Solana continues to lead the way to redefining blockchain scalability and performance, we are excited to welcome FDUSD into our ecosystem. The integration of FDUSD on Solana will enable new possibilities for real-world, on-chain financial innovations.”

FDUSD is a 1:1 USD-backed stablecoin issued by First Digital Labs, the brand name of FD121 Limited. The FDUSD stablecoin is backed on a 1:1 basis by one U.S. dollar or assets of equivalent fair value, held in accounts of regulated financial institutions globally. Independent reserve audits are published monthly. FDUSD is currently available on Ethereum, BNB Chain and Sui.

About First Digital Group

First Digital Group (“First Digital”) is the parent company of First Digital Trust Limited, Asia’s leading qualified custodian and registered trust company, and FD121 Limited (also known as First Digital Labs), issuer of First Digital USD (FDUSD).

First Digital Group safeguards, advances and innovates to help clients navigate digital assets as well as benefit from trusted next-generation financial services.

First Digital was established in 2017 under the umbrella of the Legacy Trust Company, an established custodian and trust established in 1992 and registered under the Trustee Ordinance in Hong Kong. Its mission is to help clients benefit from a digital-first future by combining digital asset innovation with its strong foundation in trust, custody and asset management services. The Group’s custody and trust arm, First Digital Trust Limited, was established in 2019 and became a fully independent public trust corporation headquartered in Hong Kong with a presence across Asia.

First Digital Trust Limited has been recognised as one of HSBC’s ‘Emerging Giants in Asia Pacific’ Report 2022, while its innovation subsidiary, FD121 Limited (a.k.a. First Digital Labs), is the issuer of the FDUSD stablecoin.

Website: www.1stdigital.com

About First Digital Labs

First Digital Labs is the brand name of FD121 Limited, a Hong Kong-registered subsidiary under the First Digital Group. First Digital Labs focuses on cutting-edge research and development, specialising in the innovation and advancement of digital assets. First Digital Labs is the issuer of the FDUSD stablecoin.

To learn more about First Digital Labs, visit https://firstdigitallabs.com/