Brazil Antitrust Watchdog Probes Banks in Cryptocurrency Trade 2253

Brazilian antitrust watchdog CADE opened an investigation into the country’s largest banks on Tuesday for allegedly using their market position to corner the cryptocurrency trade to the disadvantage of brokers.

CADE said it was looking into alleged monopolistic practices by Banco do Brasil SA (BBAS3.SA), Banco Bradesco SA (BBDC4.SA), Itau Unibanco Holding SA (ITUB4.SA), Banco Santander Brasil SA (SANB11.SA), unlisted Banco Inter and cooperative bank Sicredi.

The investigation was requested in June by the Brazilian Association for Cryptocurrency and Blockchain (ABCB), which said the banks were abusing their power as financial players by closing accounts of brokerages trading in bitcoins.

CADE said in a report calling for the investigation that information it collected indicated that “in fact, the main banks are imposing restrictions or even prohibiting … access to the financial system by cryptocurrency brokerages.”

The banks argued, in response to questions from CADE, that the accounts were closed because of the absence or lack of client data that is required by law to prevent money laundering.

Brazilians investors have taken enthusiastically to trading in bitcoins and now have more cryptocurrency accounts than stock brokerage accounts, which has put regulators on the defensive. Brazil’s Securities and Exchange Commission, CVM, banned investment funds from trading in cryptocurrencies earlier this year, although it later said indirect ownership was allowed.

Previous ArticleNext Article

Leave a Reply

FDUSD Expands to the Solana Blockchain to Further Strengthen and Bolster Access 1663

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/

CATIZEN launches Zircuit Launchpool – Stake CATI and game assets to earn 8.33 million ZRC rewards 1247

CATIZEN proudly announces the launch of its first Launchpool project – Zircuit (ZRC) – on October 28, 2024. Zircuit is an AI-driven, zero-knowledge Layer 2 blockchain that is fully EVM-compatible. Featuring AI-enhanced security at the sequencer level, it blocks malicious transactions in real time, ensuring a highly secure environment for users. Backed by Binance Labs, Zircuit boasts $1.7 billion TVL and recently introduced a liquidity hub to incentivize early adopters and stakers.

Starting from October 28, 2024, 08:30 (UTC+8), CATIZEN players and CATI token holders can stake their CATI tokens or level 300+ cat game assets in the ZRC reward pool through the CATIZEN BOT to earn ZRC rewards. This 7-day staking event offers lucrative incentives for participants.

Project details:

  • Token Name: ZIRCUIT (ZRC)
  • Total Supply: 10,000,000,000 ZRC
  • Launchpool Rewards Pool: 8,333,333 ZRC (valued at $1.5 million)

Staking rules

CATI token staking pool:

  • Reward Allocation: 85%
  • Total Reward: $1,275,000 in ZRC
  • Minimum Stake: 1 CATI
  • Maximum Stake: 2000 CATI
  • Settlement: Rewards settled every hour based on the share of staked CATI

CATIZEN game asset staking pool:

  • Reward Allocation: 15%
  • Total Reward: $225,000 in ZRC
  • Eligibility: Only level 300+ cats are eligible for staking
  • Settlement: Rewards calculated hourly, converting cat levels into USD equivalent

ZRC token valuations are referenced from CoinGecko’s real-time data.

This Launchpool event provides CATI holders and CATIZEN players with exciting earning opportunities, encouraging community participation while supporting Zircuit’s innovative security model and ecosystem growth.

Hachiko Announce Launch: The Latest Dog Memecoin With a Legacy of Loyalty and Unstoppable Growth 1211

In a world where meme coins come and go, Hachiko stands apart as a symbol of loyalty, strength, and deep-rooted history. Inspired by the legendary Japanese dog known for his unwavering devotion, Hachiko is more than just another meme coin—it’s a movement built on the values of trust, community, and long-term vision. As the crypto market continues to evolve, Hachiko is poised to become the next big dog coin, with a powerful narrative that’s drawing in holders from all corners of the globe.

A Legacy Born from Loyalty

Hachiko isn’t just any meme coin. It is born from the true story of Hachiko, the faithful Akita who waited for his owner at Tokyo’s Shibuya Station every day for nearly a decade, even after his owner passed away. This touching story of loyalty has been etched into Japanese history and now serves as the foundation of a project that seeks to redefine loyalty in the world of cryptocurrency.

In the same way that Hachiko never wavered, this project is designed to withstand the ups and downs of the market, offering a community-driven experience that rewards those who believe in long-term growth and shared success.

Why Hachiko is Poised for Explosive Growth

The Hachiko project taps into the heart of what has made coins like Shiba Inu and Dogecoin wildly successful—community and storytelling. But unlike other meme coins, Hachiko has an undeniable historical narrative that resonates deeply. This is not just another token chasing hype; it’s a project with purpose, passion, and a clear vision for the future.

The combination of Hachiko’s powerful narrative and the project’s dedicated community has set the stage for exponential growth. Already gaining traction across crypto exchanges and listing platforms like CoinGecko, Hachiko’s loyal holders are excited for what’s next. And with an upcoming roadmap packed with new features, partnerships, and community rewards, there’s never been a better time to join the Hachiko movement.

The Power of Community: #LoyalLikeHachiko

At the core of Hachiko’s success is its community. The #LoyalLikeHachiko movement is more than just a slogan—it’s a way of life for those who believe in the strength of sticking together during market volatility. Hachiko has already faced challenges, from FUD to market corrections, but its loyal holders have proven their commitment time and time again. This unwavering loyalty mirrors the story of Hachiko himself and has made the community even stronger.

Hachiko is not just building a token—It is creating a legacy. A project that anyone can be a part of, no matter your background or experience in crypto. Whether you’re a seasoned investor or someone new to the scene, Hachiko welcomes you with open arms, offering a supportive community where everyone’s voice matters.

The Future of Hachiko: Building for Longevity

The Hachiko project has a long-term vision that’s already in motion. From upcoming NFT releases to charitable partnerships, the team behind Hachiko is working tirelessly to deliver real value to its holders. With a commitment to transparency and innovation, the project is positioning itself as a leader in the meme coin space, with a strong focus on sustainability and future growth.And with Hachiko’s 101st anniversary just around the corner, the project has big plans to celebrate this milestone.

Why You Should Join the Hachiko Movement

The crypto market is full of short-term gains and projects that fade into obscurity. But Hachiko isn’t about quick pumps or fleeting hype—it’s about building something that lasts, just like the loyal dog who inspired its creation. With a strong narrative, a dedicated community, and a team committed to long-term success, Hachiko is quickly becoming one of the most exciting projects in the space.

If you believe in loyalty, growth, and the power of community, Hachiko is the project for you. Now is the time to be part of this incredible movement and help write the next chapter of Hachiko’s legendary story.

Follow hachiko on social media to know more about this project!

Website: https://www.hachiko-token.com
Telegram: https://t.me/HachikoportaI
Twitter X: https://x.com/Hachikocoinsol
Coinmarketcap: https://coinmarketcap.com/currencies/hachiko-token/

Tap Protocol launches Tap Token (TAP) to enhance Bitcoin Defi ecosystem functionality 1089

The Tap Protocol is excited to announce the launch of its native token, Tap (TAP), designed to serve as the backbone of its innovative ecosystem. This token will play a crucial role in facilitating various functions, including bridging assets between Ethereum and Bitcoin and providing staking mechanisms for users.

The Tap Protocol has already made waves in the blockchain community by introducing a groundbreaking bridge that allows seamless transfers between Ethereum and Bitcoin. This functionality positions Tap Protocol at the forefront of cross-chain interoperability, empowering users to navigate both ecosystems effortlessly.

The TapEthereum bridge by TaparooSwap is the first-ever to securely connect Bitcoin L1 to Ethereum. This enables $TAP to be immediately traded on both chains, unlocking seamless access to deep liquidity and more efficient markets across both ecosystems.

Additionally, the Tap Protocol boasts the first native Bitcoin swap, enabling users to execute swaps directly on the Bitcoin network without the need for intermediaries. This innovation represents a significant advancement in the usability of Bitcoin DeFi applications.

Key features of Tap Token (TAP):

  • Ecosystem token: TAP will be utilised for various functions within the Tap Protocol ecosystem, including bridge transactions and staking mechanisms, allowing users to earn rewards while participating in the network.
  • Account abstraction: The Tap Protocol incorporates account abstraction, enabling enhanced user experiences by simplifying transaction processes and improving overall accessibility.
  • Privileged authorities: TAP facilitate the implementation of privileged authorities within the ecosystem, allowing designated parties to perform specific functions and helping to perform ethereum-like tasks natively on Bitcoin such as Multisend function or whitelist.
  • Direct bridge from Ethereum to Bitcoin: Tap Protocol’s unique bridge enables users to transfer assets across these two leading blockchains, enhancing liquidity and accessibility.
  • Native Bitcoin swap: With the introduction of the TAP token, users can now engage in swaps directly on the Bitcoin network, simplifying the process and reducing transaction costs.

To kickstart the Tap Protocol tokenomics, users holding 50 TAP tokens on their Eth wallets do not incur swapping fees on the bridge.

As part of the launch, users will be able to participate in staking programs that leverage TAP, further incentivizing engagement within the ecosystem. The team behind Tap Protocol is committed to creating a robust and user-friendly environment that encourages participation and innovation.

About Tap Protocol

Tap Protocol is dedicated to advancing the interoperability of blockchain networks by providing solutions that bridge the gap between Ethereum and Bitcoin. With its focus on user experience and accessibility, Tap Protocol aims to empower users to leverage the full potential of decentralized finance.

Movement Lab Expands Support for ERC-3643 Beyond EVM Ecosystem for Real-World Asset Tokenization 924

Movement Labs, a web3 company and core contributor of the Movement Network, today announced its membership in the ERC3643 Association. This strategic move aims to extend the ERC-3643 standard—the industry benchmark for compliant real-world asset (RWA) tokenization—to the Movement Network, an ecosystem of modular Move-based blockchain.

Expanding ERC-3643 Beyond Ethereum

ERC-3643, designed for identity-based permissioned tokens, ensures regulatory compliance and control directly on-chain. Its adoption in the Ethereum ecosystem has gained significant traction in traditional finance, with institutions like Citi Bank and ABN AMRO leveraging the standard for tokenized assets.

Movement Lab’s initiative marks the first expansion of ERC-3643 beyond the Ethereum Virtual Machine (EVM) ecosystem, addressing market demands for high-throughput solutions and alternative programming paradigms.

Bringing Proven Standards to Move-Based Blockchains

The Movement Network, powered by the Move Virtual Machine (MoveVM), offers over 160,000 transactions per second and utilizes the Move programming language, known for its resource-oriented approach and enhanced security features.

Cooper Scanlon, Co-Founder of Movement Labs, stated: “RWA tokenization was one of the core design principles of the Move language. By integrating the ERC-3643 standard, we take meaningful steps to realizing this vision in a decentralized manner. We’re excited for the many use cases supporting ERC-3643 enables on a molecular level of smart contract development, and are supporting ERC-3643 as the universal gold standard for real-world assets onchain.”

Dennis O’Connell, President of ERC3643 Association, commented on the partnership: “Our partnership with Movement Labs marks an exciting new chapter for ERC-3643. By extending our standard to the Move ecosystem, we’re not just crossing technological boundaries – we’re opening up new possibilities for RWA tokenization. This partnership demonstrates the versatility of ERC-3643 and its potential to become a unifying force across diverse blockchain environments.”

To learn more about The ERC3643 Association visit https://www.erc3643.org. For more information about Movement Labs’, please visit: movementlabs.xyz, follow on X @movementlabsxyz.

About ERC3643 Association

The ERC3643 Association is a non-profit organization uniting industry leaders to promote the adoption of the ERC-3643 standard and develop a standardized, secure, and compliant tokenization framework. By fostering collaboration and innovation, the association seeks to create a more inclusive, efficient, and secure financial landscape.

About Movement Labs

Movement Labs is the innovative force behind the Movement Network, an ecosystem of Modular Move-Based Blockchains that enables developers to build secure, performant, and interoperable blockchain applications, bridging the gap between Move and EVM ecosystems. The organization is developing the first Move Virtual Machine L2 for Ethereum, alongside open-source tooling and protocols to facilitate the adoption of the Move programming language across blockchain ecosystems. With Movement, developers can launch high-performance Move VM rollups with ease. Backed by $38 million in Series A funding led by Polychain Capital, with participation from Binance Labs, Hack VC, Placeholder, OKX Ventures and Archetype, Movement Labs aims to revolutionize blockchain interoperability and advance Move-based technologies in the Web3 space.

KILT takes first step towards multi-chain future with Ethereum integration 552

KILT’s expansion to Ethereum, enabled by Project Polar Path, ensures secure and trustless token switches

KILT, a blockchain identity protocol for generating self-sovereign, decentralized identifiers (DIDs) and Verifiable Credentials (VCs), today announces the launch of the KILT token on Ethereum. This pivotal development signifies KILT’s expansion beyond the Polkadot ecosystem and opens the door to a new era of flexibility and exposure for KILT tokens.

With KILT now accessible on Ethereum, it taps into the largest decentralized finance (DeFi) ecosystem, allowing holders to engage with a wide array of DeFi products. This expansion is a step forward in enhancing KILT’s visibility among developers and users to enable greater adoption within the crypto community.

“Engagement with our community has revealed a strong interest in expanding into other ecosystems,” said Ingo Rübe, Founder and CEO of KILT. “We are committed to making the KILT token accessible across a broader range of platforms, providing our users with greater flexibility and exciting new opportunities.”

Through Project Polar Path, built by the KILT Core Team, KILT token holders can now switch their assets to Ethereum. The development brings substantial opportunities for both KILT and other Polkadot parachain projects, which can now use Polar Path to also make their tokens available on Ethereum. Thanks to Snowbridge’s architecture, Project Polar Path ensures that every token switch remains secure and trustless, allowing users to switch assets between networks without compromising security. The initiative features a user-friendly interface developed by the Galani Projects team, which includes a new tab for the switch pair functionality within the Snowbridge application.

Rish Kumar, Head of Growth for KILT, said: “Venturing into Ethereum is just the beginning of our vision for multi-chain integration. We are actively exploring additional blockchain networks to enhance our ecosystem and offer even more options for our community. We encourage everyone to join us on this journey and discover the potential of KILT!”

For more information, visit: KILT.io.

Ingo Rübe, Founder and CEO of KILT, is available for interviews.

About KILT

KILT is an identity blockchain for generating decentralized identifiers (DIDs) and Verifiable Credentials, providing secure, practical identity solutions for enterprises, governments, and consumers. KILT brings the traditional process of trust in real-world credentials (passport, driver’s license) to the digital world, while keeping data private and in possession of its owner.