Q2 2019 XRP Markets Report 16412

Ripple

Ripple publishes the quarterly XRP Markets Report to provide regular updates on the state of the market, including quarterly programmatic and institutional strategy and sales, relevant XRP-related announcements such as Xpring and RippleNet partnerships, and commentary on previous quarter market developments. As an owner of XRP, Ripple believes in proactive transparency and in being a responsible stakeholder. Ripple urges others in the industry to follow its lead to build trust, foster open communication, and raise the bar industry-wide.

CHANGE IN VOLUME BENCHMARK

In June 2019, Ripple shared that the company’s sales of XRP in Q2 2019 would be lower as a percentage of reported volume than in the previous quarters due to the concerns about misreported, falsified and inflated reported trading volumes.

Ripple worked with trusted partners to evaluate new sources of legitimate trading volume. After evaluation, Ripple decided CryptoCompare’s Top Tier (CCTT), the exchanges rated “AA,” “A,” and “B” by its Exchange Benchmark, offers a more complete look on the quality, regulatory environment, management, and structure of exchanges that filter out a majority of unverified volumes. Publicly available sources of trusted trading volume are still in relatively early stages, but CCTT is in line with what Ripple believes to be more accurate XRP trading volumes. For now, Ripple will use CCTT as its benchmark, and will continue to work proactively with industry participants toward resolving the issues around unreliable industry volume data.

Q2 HIGHLIGHTS

  • Overall market capitalization of digital assets sharply increased in Q2.
  • Ripple sold $251.51 million XRP in Q2 2019 and is substantially reducing future sales of XRP.
  • Given the concerns about overstated market trading volumes, CryptoCompare will be Ripple’s primary benchmark for XRP market volume going forward.
  • Three billion XRP were released out of cryptographic escrow, 2.10 billion returned to escrow.
  • XRP is now listed on over 130 exchanges worldwide.
*data from coinmarketcap.com; **data from CryptoCompare Top Tier

Q2 AND FUTURE XRP SALES

Q2 Sales
In Q2 2019, Ripple sold $106.87 million XRP in institutional direct sales and $144.64 million in programmatic sales. In total, the company sold $251.51 million XRP in Q2. Given the reports of inflated volumes, which Ripple took seriously, the company temporarily paused programmatic sales and placed limits on institutional sales to evaluate the problem in early Q2. Ripple later resumed XRP sales at a rate that was 50% lower versus previous guidance, at 10 basis points of CoinMarketCap reported volumes.

Future Sales
Ripple plans to take a more conservative approach to XRP sales in Q3. As noted, the company switched benchmarks to CCTT and will target programmatic sales at 10 basis points of CCTT reported volumes.

INSTITUTIONAL VS. PROGRAMMATIC SALES

Institutional (OTC) Sales
Ripple’s long-term view is that efficient, liquid XRP markets should resemble the traditional FX markets, given XRP’s use case of global value transfer. As a large portion of FX trading occurs on the OTC markets, in 2017, Ripple began providing, through XRP II, a licensed subsidiary, OTC purchases of XRP to meet institutional demand, at a time when XRP/USD liquidity was limited. Since then, XRP listings increased as Ripple has partnered with the top digital asset brokers and used inventory to serve as a backstop for XRP liquidity. This allowed these OTC liquidity providers the ability to source XRP, even when institutional quantities of XRP were difficult to access across exchanges.

Ripple decided to pull back from providing XRP over-the-counter at scale toward the end of Q2, in light of the OTC desks’ ability to source institutional demand for XRP in the open markets. Going forward, Ripple plans to focus institutional sales on markets where the on-exchange liquidity for XRP is insufficient to meet institutional demand.

Programmatic Sales
Ripple’s programmatic XRP sales have been done with the goal of minimizing market impact. The company did this through limiting XRP programmatic sales to what it considers a small percentage of traded volume, which was executed across multiple exchanges. Ripple relies on programmatic sales partners who mainly execute trades passively; their trading volumes do not vary based on changes in the price of XRP, but they do increase as overall XRP trading volumes increase.

As discussed earlier, because of misreported trading volumes, Ripple has changed its sales strategy and benchmark for Q3, and will continue to closely monitor the situation.

Q2 ESCROW ACTIVITY

In Q2 2019, three billion XRP were again released out of escrow (one billion each month). 2.10 billion XRP were returned and subsequently put into new escrow contracts. The remaining 900 million XRP not returned to escrow are being used in a variety of ways to develop use cases for XRP, including Xpring initiatives and RippleNet partnerships (such as MoneyGram). All figures are reported based on transactions executed during the quarter.

XRP COMMENTARY

The overall market capitalization of digital assets increased by 122.86% from Q1. XRP price gained 28.20% over Q2, ending the quarter at $0.40 on coinmarketcap.com

Volume
According to CCTT, the daily volume for XRP increased in Q2. The average daily volume was $429.51 million in Q2 and $156.01 million in Q1.

For reference, according to coinmarketcap.com, the average XRP daily volume was $1.74 billion.

Volatility and Correlation
XRP’s volatility of daily returns over the quarter was 5.01%. Though there was a slight increase in volatility from Q1, XRP was in line with other top digital assets. In addition, XRP’s correlation with bitcoin dropped from Q1, while its correlation with ether remained high.

Exchanges
In Q2, 12 new exchanges listed XRP bringing the total number to over 130 exchanges worldwide.

RIPPLENET

Q2 saw the highest number of customer transactions on RippleNet. In fact, the number of xRapid transactions increased 170% from Q1 to Q2 and Ripple had a 30% increase in the number of live xRapid partners in Q2. Ripple anticipates this momentum in transaction volume to continue as more partners and customers go live.

Notably in Q2, Ripple announced it agreed to enter into a strategic partnership with MoneyGram (NASDAQ: MGI), one of the world’s largest money transfer companies. The company operates in the $600 billion global remittance market, serving millions of customers in more than 200 countries and territories, supporting multiple currencies. Through this partnership, which will have an initial term of two years, Ripple would become MoneyGram’s key partner for cross-border payments and foreign exchange settlement using digital assets. In conjunction with the partnership, Ripple has agreed to provide a capital commitment to MoneyGram, which enables the company to draw up to $50 million in exchange for equity over a two-year period.

The partnership with Ripple focuses on the xRapid product. xRapid is a solution for on-demand liquidity, which leverages XRP, the native digital asset of the XRP Ledger, as a real-time bridge between the sending and receiving currencies.

XPRING 

Xpring is Ripple’s initiative to support the open source community of developers, building on the decentralized XRP Ledger and use cases for XRP on that ledger. This support is done in two ways: 1) helping innovative blockchain projects grow through partnership and investment; 2) building crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and Interledger projects. In addition, Xpring is building a developer platform to support open source developers to leverage these protocols. Xpring makes investments using a mix of traditional currency and XRP.  XRP investments are generally subject to sales restrictions and intended for direct use in the tools and services being developed.

Companies and developers continued to build on the XRP Ledger, and utilize ILP and XRP. Significant developments from companies and projects, which Xpring invested in and supports, include:

  • Bolt Labs is a privacy-focused payment channel network supporting multiple digital currencies. Bolt scales off-chain transactions while preserving privacy.
  • Agoric enables developers to build secure smart contracts and new digital assets that can connect to public and private blockchains.
  • Robot Ventures is a (pre-)seed investor in early stage companies in the decentralized finance and blockchain space.

MARKET COMMENTARY

Notable Regulatory Activity

  • The SEC announced that it would establish nodes on certain open source, permissionless ledgers, such as the XRP Ledger, to help inform its policy making.
  • The UK’s Financial Conduct Authority analogized XRP to ETH, which it recognized was a hybrid utility/exchange token, not a security token.

Technology companies enter the space
New entrants into the ecosystem brought global awareness around crypto and blockchain. Most notably, Facebook’s announcement of the Libra whitepaper in June brought mainstream attention from all audiences. Akin to JP Morgan’s announcement of its JPM Coin trial, the news brought market validation to the space, highlighting the benefits that blockchain and crypto bring to payments. However, Facebook faced significant regulatory headwinds as regulators questioned the company’s ability to protect consumer data and comply with anti-money laundering and know-your-customer laws. Facebook was not the only tech company that announced it was breaking into crypto and blockchain this quarter:

  • Amazon was granted a patent to build a proof-of-work cryptographic system to fight DDOS attacks. Also, Amazon Web Services launched its Managed Blockchain service, which supports open-source framework Hyperledger Fabric, for its enterprise clients.
  • Yahoo! Japan went live with Taotao, its cryptocurrency exchange, where bitcoin and ether will be initially traded, and margin trading of XRP and litecoin will be available.
  • Google announced that Ethereum app builders using Google software will be able to integrate data from sources outside the blockchain through a partnership with Chainlink.
  • Samsung announced the development of its own Ethereum-based blockchain and may issue its own token.

Increased Institutional Interest 
Digital assets experienced increasing levels of institutional interest over the past three months. Last quarter, futures trading and other crypto derivatives were widely discussed as the market capitalization of digital assets increased, CME reached a record high for BTC futures and Bakktannounced plans to begin testing its future contracts.

Banks continue to bet on crypto and blockchain 
Established banks continued to show interest in blockchain and crypto as they build their own private blockchain solutions and tokens. Last quarter, a group of 14 financial firms led by UBS including Barclays, Santander, and Canadian Imperial Bank of Commerce created Fnality International to aid in the development and launch of a utility settlement coin (USC) to improve cross-border payments. JPMorgan announced that it will start customer trials of its JPM Coin with corporate clients, and Goldman Sachs CEO said the bank is doing extensive research on asset tokenization and stablecoins.

Crypto exchanges reported record trading volumes and profit. Traditional brokerage firms plan to offer cryptocurrency trading to their institutional clients.

ADDITIONAL REGULATORY HIGHLIGHTS IN Q2

Americas and Europe

  • The G20 officially announced its support of the FATF’s crypto guidelines and ongoing work by the Financial Stability Board (FSB) to explore the implications of decentralized fintech and how regulators can better engage stakeholders.
  • SEC Commissioner Hester Peirce said current guidance falls short of clarity that the industry needs to move forward to develop additional guidelines regarding crypto.
  • France pushed for the EU to adopt a cryptocurrency framework to achieve uniform laws.
  • Bitstamp was granted a virtual currency license by the New York Department of Financial Services.
  • The SEC sued Kik for allegedly running an unregistered securities sale back in 2017 when it launched an ICO for its kin token.
  • The UK’s Financial Conduct Authority is consulting on a potential ban on the sale of crypto derivatives to retail investors.

APAC

  • Reserve Bank of India considered a law that mandates payments data should not be allowed to leave its borders, and announced a framework for its fintech sandbox that invites blockchain projects to take part, but excludes cryptocurrency-related businesses.
  • Nepal banned AliPay and WeChat Pay, citing they are not registered as official payment systems.
  • Japan’s lower and upper houses passed new crypto regulation in National Diet (Japan’s bicameral legislature) to strengthen local regulations and cryptocurrency trading practices.

South America

  • Brazil established a new commission to consider crypto regulation in the country. The commission will be composed of 34 members in accordance with the House Rules of Procedure. Also, the country’s major financial authorities announced a regulatory sandbox for blockchain, fintech and crypto.
  • The Chilean government introduced a bill on cryptocurrencies for congress.

Middle East and Africa

  • Egypt lifted its ban, and will allow licensed cryptocurrency companies.
  • Pakistan Central Bank announced its intention to launch a digital currency by 2025, in an effort to go fully digital by 2030.

CONCLUSION

Q2 was marked by increased regulatory activity, landmark partnerships and high profile announcements from new entrants and key industry players. These activities underscore the continued maturation of the blockchain and crypto markets. In addition, Ripple has taken proactive steps to address the issues of inflated volumes by reducing future XRP sales and changing its volume benchmark.

If interested, please find the Q1 2019 XRP Markets Report here.

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Alibaba and OneConnect take the top two positions in Blockchain Patents list and file IPO prospectuses on the same day 16377

On the afternoon of November 18, BlockData released China Blockchain Patents Report 2019 and the Comprehensive Strength list of China’s Blockchain Patents 2019. Alibaba ranked first in the list, while OneConnect and China Unicom took second and third place, respectively. In an accompanying ranking by strength of blockchain patents specifically in the fintech field, OneConnect topped the list, followed by Ping An Technology, Hangzhou Fuzamei Technology, Launch Tech, Baidu, Tencent Technology and WeBank. In order to comprehensively demonstrate the strength of all companies having obtained blockchain patents, the list is based on an analysis that takes into consideration five factors: the number of patent applications, the number of patents granted, the scope of patent protection, the location in the patent family and the application for the patent.

Just prior to the launch of the list, the top two performers, Alibaba and OneConnect, had issued IPO prospectuses in Hong Kong and the United States and were receiving substantial attention from capital markets.

On the evening of November 13, Alibaba submitted a preliminary prospectus that appeared on the website of the Stock Exchange of Hong Kong (SEHK), announcing a plan to issue 500 million new ordinary shares worldwide and list on the main board of the exchange. If Alibaba successfully launches an IPO in Hong Kong, it will be the largestever such transaction in the Hong Kong market. Alibaba will also be the first Chinese Internet company to be listed in both Hong Kong and New York. Based on Alibaba’s prospectus, as of June 30, 2019, the company held 6,175 authorized patents and 13,336 publicly filed patent applications in China. Elsewhere, the company held 3,112 authorized patents and 9,742 publicly filed patent applications.

On November 13, OneConnect formally applied for an IPO with the U.S. Securities and Exchange Commission (SEC). According to the prospectus, as of the end of September 2019, the company has applied for 2,850 domestic patents and 542 foreign patents. OneConnect topped the list in the accompanying ranking by strength of blockchain patents specifically in the fintech field released by BlockData. OneConnect’s blockchain solution FiMAX has been implemented in the Chinese government’s super vehicle management office as well as in solutions for supply chain finance, trade finance, small and medium-sized enterprise loans, intelligent environmental protection, mortgages, drug traceability and electronic medical records spanning five key sectors: finance, smart city, real estate, automotive and healthcare.

Walmart Canada and DLT Labs™ launch world’s largest full production blockchain solution for industrial application 18692

Walmart Canada and DLT Labs™ today announce the launch of Walmart Canada’s blockchain-based freight and payment network, the world’s largest full production blockchain solution for any industrial application. The new system uses distributed ledger technology to track deliveries, verify transactions, and automate payments and reconciliation among Walmart Canada and its carriers which deliver inventory to over 400 retail stores across Canada annually. All Walmart Canada’s third-party carriers are scheduled to be live by February 1, 2020. The solution is accessible using a web portal and an easy to use mobile application.

Walmart Canada partnered with DLT Labs™ to automate freight and payment data using DLT’s leading supply chain platform DL Asset Track™. The new blockchain-based freight and payment network manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger. The solution also automates the myriad necessary calculations enabling real-time invoicing, payments and settlement. At the same time, it seamlessly integrates with each company’s legacy systems, so organizations can continue to follow their existing processes without retraining or a new investment in technology. This innovation arose from Walmart Canada’s continued focus on reducing costs to ensure the lowest everyday prices for Canadian consumers.

John Bayliss, senior vice-president, logistics and supply chain, Walmart Canada, says, “Walmart Canada is dedicated to efficiency across our business, including most importantly in our supply chain and logistics management. Our carrier partners move over 500,000 loads of inventory nationally, which creates an extraordinary volume of transaction data. This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners.” Bayliss adds, “Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain. Moreover, this degree of improved efficiency represents a powerful platform for us to continue to reduce our environmental footprint and continue our leadership in environmental sustainability.”

Loudon Owen, CEO of DLT Labs™, says, “Walmart is a global leader in innovation, with a relentless focus on improving people’s lives, and DLT Labs™ is delighted to partner with such an extraordinary organization to bring the world’s first and largest blockchain solution for industry into production. This proves the high value of blockchain and sets the stage to revolutionize supply chain management and logistics, due to its ability to enable secure information sharing, manage trust and reduce waste in multi-partner operational processes.” Owen adds, “Just as the Roman’s concept, ‘dictum meum pactum’ (meaning ‘my word is my bond’) was fundamental to building trade, this product creates a secure digital handshake using blockchain to renew trust and efficiency in global trade.”

Bison Transport was the carrier partner in the pilot of this new blockchain-based freight and payment network. According to Rod Hendrickson, VP Finance, Bison Transport, “Great partners find innovative ways to create business solutions that benefit both parties. The blockchain initiative we worked on with Walmart and DLT Labs is just that – a mutually beneficial solution that works well for Bison Transport and Walmart Canada.  This project is a new paradigm that will greatly improve workflows, reduce paperwork, and make the business we do with Walmart more efficient.”

Walmart Canada’s distribution centres are hubs of activity, with more than 4,500 associates and drivers moving thousands of items daily from sites located in CalgaryMississauga and Cornwall to stores from coast to coast across Canada. Walmart Canada operates 8.75 million square feet of distribution center and moves more than 853 million cases of merchandise annually. These goods are transported by a combination of 3rd party fleet as well as Walmart Canada’s own fleet of 180 tractors, 2,000 trailers and more than 350 drivers. Each third-party trailer tracks approximately 200 data points per shipment. Automating this data collection and management using blockchain results in a significant cost-saving.

Walmart Canada is committed to ongoing leadership in developing smart transportation networks, having already established more efficient techniques for loading, routing, driving, and energy efficient improvements with truck manufacturers. Interconnecting the data between Walmart Canada and its carrier partners provides a platform to materially improve operations, delivery coordination and routing efficiency, waste and cost reduction, and automated payment reconciliation and processing.

StockCharts.com Introduces Cryptocurrency Data and Advanced Charting for Digital Assets 20657

StockCharts.com has announced the addition of cryptocurrency data to its award-winning financial charting platform and full suite of investment analysis tools. The initial slate of data includes 15 prominent cryptocurrencies, including Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Monero and many more, with others expected to be added in the near future.

“The advanced charting tools are the heart and soul of StockCharts, but data is the lifeblood,” said Chip Anderson, founder and President of StockCharts.com. “Our data coverage is an ever-expanding puzzle, and the addition of crypto is the latest piece. We’ve watched this market carefully over the past few years, and the time is right to bring this growing new asset class to StockCharts. I’m excited to help our users chart and analyze the crypto world like never before with this new data now on the site.”

Cryptocurrency data launched on the StockCharts.com website during the week of Nov. 4 and is now available for charting analysis to both free users and paid members. All cryptocurrency data is updated in real time, 24/7.

“We’re absolutely thrilled about the addition of crypto data to StockCharts.com,” said Grayson Roze, StockCharts.com VP of Operations. “We’re always looking for ways to deliver more value to the investment routines of our users, and supporting the crypto markets as we now do is a wonderful next step in that mission. Adding this data is a great boost to our product on its own, but in concert with the ongoing rollout of our new Advanced Charting Platform, the excitement has only just begun.”

StockCharts.com users will be able to track cryptos with advanced technical charts, run custom technical scans for all cryptocurrencies and set automatic alerts for coins that they follow most closely.

The launch slate of cryptocurrencies on StockCharts.com includes:

  • Bitcoin ($BTCUSD)
  • Ethereum ($ETHUSD)
  • XRP ($XRPUSD)
  • Bitcoin Cash ($BCHUSD)
  • Tether ($USDTUSD)
  • Litecoin ($LTCUSD)
  • EOS ($EOSUSD)
  • Binance Coin ($BNBUSD)
  • Chainlin ($LINKUSD)
  • Bitcoin SV ($BSVUSD)
  • TRON ($TRXUSD)
  • Stellar ($XLMUSD)
  • Cardano ($ADAUSD)
  • Monero ($XMRUSD)
  • IOTA ($MIOTAUSD)

A complete, real-time summary of all cryptocurrencies currently available on StockCharts can be found at StockCharts.com/crypto.

About StockCharts

StockCharts.com is the web’s leading technical analysis and financial charting platform for online retail investors. Founded in 1999 by early Microsoft developer Chip Anderson, the company has been an industry leader in the financial technology space for nearly two decades, providing innovative, award-winning charting and analysis tools to a global audience.

By using technology to help investors visualize financial data, StockCharts.com allows users to better analyze the markets, monitor and manage their portfolios, find promising new stocks and funds to buy and, ultimately, make smart, well-timed investment decisions. With over 1.5 million active monthly users and counting around the world, the company serves an ever-growing, ever-changing array of active traders and investors.

Bahrain to Fast-track Setup Process for Global Startups 23284

Bahrain

The Bahrain Economic Development Board (EDB) – the investment promotion agency for the Kingdom of Bahrain in partnership with Web Summit – announced today a fast-track setup process for startups globally looking to take advantage of the business environment and startup ecosystem in Bahrain. The initiative will also enable startups to access the broader MENA region markets with the hyper-connected Kingdom of Bahrain as their launchpad.

The announcement was made prior to the leading annual technology conference Web Summit 2019, which will be attended by a high-level delegation from Team Bahrain to include; the EDB, Tamkeem (Bahrain Labour Fund), Bahrain Chamber of Commerce and Industry, Bahraini startups and accelerators. International startups and related entities interested in learning more about Bahrain startup ecosystem, and the benefits Bahrain has to offer, are encouraged to visit the Bahrain EDB stand – no. E359, pavilion 3 – where a team will be on hand for the duration of the summit (November 5 – 7) to answer any questions.

The fast-track setup process is a free service offered through a dedicated concierge, and includes:

  • A fast-tracked entry process which will cover residency, visa requirements and business registration
  • Guidance from Bahrain’s incubators and accelerators, as well as access to their networks and programmes that will provide businesses with the connections they need to grow and expand
  • Access to grants and financial support

The initiative will allow businesses and startups to benefit from the full ecosystem in Bahrain, which boasts operating costs up to 40% lower than its neighbours, one of the region’s most highly skilled local workforces and some of the most advanced soft infrastructure in MENA. Sitting at the nexus of the Middle East, the Kingdom offers a convenient springboard into the wider region opportunity, including its largest market, Saudi Arabia.

Commenting on this announcement, Ms. Pakiza Abdulrahman, Manager of Business Development – Startups at Bahrain EDB said:

“International startups can benefit hugely from the entrepreneurial support structure in Bahrain – offering access to capital, talent and new markets. With a hassle-free approach to setting up businesses in Bahrain, there is no better base to scale across the growing $1.5 trillion Gulf market.”

Michael Cunningham, Senior Vice President of Partnerships at the Web Summit said:

“We’re glad to see startup initiatives like that of the Bahrain Economic Development Board. It will be great that startups present at this year’s Web Summit will be able to benefit from their efforts.”

In recent years, Bahrain has expended considerable resources diversifying away from a previous focus on hydrocarbons. It now enjoys a burgeoning and increasingly dynamic digital economy; a maturing tech community; and a rapidly growing FinTech ecosystem. The Kingdom’s pioneering, agile and flexible regulatory framework allows it to regulate emerging technologies – such as open banking and cryptocurrencies – in a way other jurisdictions simply cannot. Thanks to this, Bahrain has earned a reputation as the region’s de facto test-bed for cutting edge technologies.

Malta MFSA Warning – Bitcoin Future 22617

The Malta Financial Services Authority (“MFSA”) has become aware of an entity by the name of Bitcoin Future. This entity appears to present the same deceitful characteristics as another entity, Bitcoin Revolution, against which the MFSA has already issued public warnings on 25 January 2019 and on 29 August 2019.

Such entities have been constantly resurfacing on the internet as adverts, and are operating under various names. These fake adverts claim to provide a “Way to build your life better” and a “Unique opportunity for Maltese”, and are currently operating through the following internet addresses: https://bit.ly/2IS0YeT and https://bit.ly/2IOE7ks.

Bitcoin Future is promoting itself by means of fake news articles which misuse images of local personalities and images of local government institutions. The fake articles are advertised on various social media platforms and falsely claim to be linked to these individuals

Bitcoin Future is NOT a Maltese registered Company, NEITHER is the entity operating under the transitory provision in terms of Article 62 of the Virtual Financial Assets Act (Cap 590 of the Laws of Malta) NOR is it authorised to provide any financial services in or from Malta.

Furthermore, information available to the MFSA suggests that Bitcoin Future is likely to be an international “get-rich-quick” cryptocurrency scam. The public should therefore refrain from undertaking any business or transactions with the entity operating under the abovementioned names.

The MFSA strongly advises investors and consumers of financial services that prior to making any investment or entering into any financial services transaction they should make sure that the entity with whom the investment or transaction is being made is authorised to provide such services by the MFSA or another financial services regulatory authority as applicable.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/ .

For more information on cryptocurrency scams please refer to the Scam Detection Guidelines issued by the MFSA at https://www.mfsa.mt/consumers/scams-warnings/typical-scams/. If you are a victim of a cryptocurrency scam or any other type of financial scam or think you might be dealing with an unauthorised entity, first of all stop all transactions with the company and contact the Authority at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.

OKEx Announces 14 Partnerships to Expand Adoption of Its Native Token OKB 25026

OKEx

OKEx, the world-leading cryptocurrency exchange, has announced partnerships with 14 service providers, covering lifestyle, decentralized finance, and cybersecurity, to promote the adoption of OKB, the global utility token of the exchange.

Travelling, gaming, and mobile surfing comprise an essential part of the everyday life of many people nowadays. Now, with OKB, its users can easily book hotel stays, top up mobile, or gear up gaming experience via a range of lifestyle partners.

  1. Litex — Top up your mobile & fuel card with OKB
    LITEX, the largest commercialized layer2 ecology worldwide, is able to realize off-chain transaction and cross-chain communication to solve the main technical pain points of blockchain. It supports over 100,000 TPS off-chain with zero transaction fees.
  2. Tripio — Book your stay at 450,000+ hotels worldwide with OKB
    Tripio is the world’s first decentralized travel booking marketplace based on blockchain. It leverages blockchain technology to connect global customers to over 450,000 hotels worldwide with authentic reviews, accurate room status updates, and lower fees.
  3. TrueChain — Shop at hundreds of merchants with OKB
    TrueChain has partnered with OKB to push the adoption of the token in hundreds of physical stores by leveraging the resources from projects in Korea, ThailandVietnam, etc. TrueChain is the world’s first public chain that implemented the PoW + PBFT hybrid consensus. It offers DApp and financial transaction services with high performance and security.
  4. QLC Chain — Redeem mobile communication services with OKB
    QLC Chain has enabled its users to redeem and top up its blockchain-driven mobile services with OKB. QLC Chain is the next-generation public chain for Network-as-a-Service (NaaS, enabling everyone to operate and benefit from network services.
  5. Lucia — Rent a room from a trustworthy community with OKB
    Lucia is a blockchain-based rental platform that aims to create a trustworthy, mutually beneficial community. The platform leverage blockchain tech and smart contract to build a rental community based on trust.
  6. BitTorrent — Upgrade to fast, ad-free file transfer service with OKB
    BitTorrent is a popular application for transferring files around the internet. With it, you can download movies, TV shows, games, and more to your favorite devices. Now you can subscribe for BitTorrent service with OKB for a high-speed, ad-free downloading experience.
  7. FishChain — Up your game with OKB
    FishChain is a virtual asset trading platform built-in gameplay, as well as a blockchain game built into the exchange. FishChain extends the mature collection and form game to the blockchain, providing safer, faster, more transparent and traceable virtual asset services to 50 million players worldwide. There are many fun game-plays in FishChain, mining, trading, fishing, breeding, fighting, mixing, gene combination and so on.