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Exclusive: Africa’s Blockchain pioneer Zone will launch remittance product in 2025 Zone, Africa’s first licenced blockchain payment infrastructure company, will launch a remittance product in 2025, Obi Emetarom, the company’s CEO, told TechCabal this week. “Work is actively going on” to develop the product, Emetarom added. Zone plans to address the three critical pain points remittance providers, and International Money Transfer Operators (IMTOs) face: distribution, liquidity, and licensing. Remittance startups need robust distribution networks to deliver funds to recipients, even without direct connections to the local banks. They also struggle with managing liquidity in different local currencies, which can be expensive. The third hurdle is navigating the complex licensing requirements across different jurisdictions. “We want to deliver these services. The integration is possible because we are a switch and already connected to banks. Secondly, liquidity is possible because our settlement is instant,” Emeratom said. “And in terms of licensing, we already have a switching license, and our roadmap is to ensure that we have all the licenses that we need to operate in different markets.” In December 2023, Nigeria’s Central Bank reversed a two-year ban on crypto-related bank accounts and later released stringent rules for banks opening crypto accounts. At least two crypto startups have applied for licences from the country’s capital markets regulator, the Security Exchange Commission (SEC). Emeratom describes this as a “fantastic development” that will open up opportunities in cross-border payments. Beyond its current role as a payments processor and switch, Zone has ambitious plans to reshape the financial landscape. The company envisions a future defined by regulated decentralized finance (DeFi), combining the strengths of blockchain technology and the legitimacy of traditional finance. “We’re working on a white paper to design what that future will look like. We are also building Zone to become the foundation for that future,” he said. Founded in 2008 by Emeka Emetarom, Obi Emetarom, and Wale Onawunmi, Zone (formerly Appzone) rebranded from a fintech software provider to a blockchain payment infrastructure company in 2022. The transition saw the company split into two entities: Appzone’s cloud-based Software-as-a-Service (SaaS) platform rebranded into Qore, while Zone remained the blockchain-based payment gateway. Zone, licenced by the Central Bank of Nigeria as a payments switch, runs a blockchain network that enables direct transaction flow between financial service providers without an intermediary. Thirteen Nigerian banks use Zone’s blockchain network to process ATM transactions. Zone earns a fee for every transaction processed through its channels, and in 2023, the startup claimed it processed $1 million daily, but Emeratom says “the number has gone up,” though he declined to share specific figures.

Paxos Collaborates with Chainlink to Strengthen Stablecoin Adoption Dear Vietnam Fintech Festival Readers, We are excited to bring you the latest news in the world of digital assets and blockchain technology. In a recent development, Paxos, a renowned regulated blockchain and digital asset solutions provider, has joined forces with Chainlink to enhance the adoption of stablecoins. Paxos has announced its support for Chainlink's PayPal USD (PYUSD) price feed on the Ethereum mainnet. This collaboration aims to streamline the usage of PYUSD, a stablecoin backed by US dollars, US treasuries, and cash equivalents, and issued under PayPal's banner. The integration of Chainlink's price feed ensures accurate, reliable, and decentralized market data for PYUSD on the blockchain. The collaboration between Paxos and Chainlink is set to benefit the growing field of decentralized finance (DeFi) projects and payment processing. By leveraging Chainlink's technology, market participants can access high-quality, tamper-proof data, ensuring data integrity even during volatile market conditions. The key features of Chainlink Price Feeds include data aggregation from multiple sources, secure node operations, decentralization to prevent tampering, transparent performance records, and cost efficiency through a shared oracle network. Paxos, known for its commitment to regulatory compliance, holds a full license to offer digital payment token services and has secured in-principle approval from the Monetary Authority of Singapore (MAS) to issue stablecoins. This collaboration with Chainlink further strengthens their position in the stablecoin ecosystem. Nick Robnett, Senior Director of Stablecoin Partnerships at Paxos, expressed enthusiasm about the collaboration, stating, "We're excited to collaborate with Chainlink in driving the adoption of tokenized real-world assets (RWAs) across a variety of use cases, including on-chain payments." Johann Eid, Chief Business Officer of Chainlink Labs, shared his excitement about launching the PayPal USD Chainlink Price Feed, stating, "With enterprise-grade infrastructure and a proven history of reliability, Chainlink enables premier financial organizations to enter and grow the world of on-chain finance." This collaboration between Paxos and Chainlink paves the way for further advancements in the stablecoin space and brings us closer to a future where blockchain-based digital assets revolutionize the financial industry. Stay tuned for more updates on the latest developments in fintech and digital assets!

FROM CODE TO COMMERCE : THE STRIPE CHRONICLES. Chapter 8: Innovation in FinTech As the fintech landscape continued to evolve, Stripe demonstrated a steadfast commitment to innovation. Embracing emerging technologies, the company explored new avenues to enhance the efficiency, security, and capabilities of online transactions. One significant area of innovation for Stripe was the incorporation of machine learning into its platform. By leveraging advanced algorithms and data analytics, Stripe aimed to optimize fraud detection, enhance risk management, and personalize user experiences. The integration of machine learning allowed the platform to adapt to evolving patterns and stay ahead of potential threats, providing a more secure environment for both merchants and consumers. Blockchain technology, with its promise of decentralized and transparent transactions, also caught the attention of Stripe. The company explored ways to integrate blockchain into its infrastructure, considering its potential to revolutionize aspects of online payments and financial transactions. Although the specifics of Stripe's blockchain initiatives may vary, the overarching goal was likely to explore how this technology could contribute to the platform's core principles of simplicity and security. The company's commitment to staying at the forefront of technological advancements extended to other areas, such as the Internet of Things (IoT) and contactless payments. Stripe explored how these emerging trends could reshape the way businesses conducted transactions, especially in contexts like connected devices and in-person retail environments. Continued investment in developer tools and APIs remained a cornerstone of Stripe's approach to innovation. By providing developers with the tools they needed to build and customize payment solutions, Stripe empowered a community of innovators to create unique and tailored user experiences. Chapter 8 delves into how Stripe embraced innovation within the rapidly evolving fintech landscape. It explores the company's initiatives in machine learning, blockchain, IoT, and other cutting-edge technologies. Through its commitment to staying ahead of the curve, Stripe continued to solidify its reputation as a forward-thinking and technologically advanced leader in the world of online payments. This chapter sets the stage for the exploration of Stripe's valuation and broader impact on the financial technology industry. #startup #strategy #fintech #technology

Addicted 2 Success : How Entrepreneurs Are Revolutionizing Industries With Blockchain https://ift.tt/goTy3wY Blockchain technology has become a revolutionary force in the new digital age with its decentralized nature, immutability, and enhanced security. It offers a vast sea of possibilities for entrepreneurs across various industries. One of its key advantages is the ability to offer countless investment opportunities to unbanked and underbanked populations, allowing crypto enthusiasts and entrepreneurs to find multiple ways of selling USDT, as well as other popular and less popular cryptos, with reduced costs and improved efficiency.  As a result of financial services democratization, individuals who were previously “excluded” from the formal financial system are now empowered to participate in the global economy. Read on and find out how entrepreneurs are revolutionizing industries with blockchain.  What is Blockchain? Blockchain utilizes a network of computers, often referred to as nodes, to securely record and verify transactions. It consists of a chain of blocks maintained across the node network, which creates a tamper-resistant record of transactions. These transactions are contained in a chain of blocks, hence the name.  The key features of blockchain are: Decentralization – Because every participant in the network has a copy of the blockchain, the risk of a single point of failure is reduced. At the same time, such a concept promotes transparency, bringing decentralization under the spotlight.  Immutability – Cryptographic hash functions and consensus mechanisms of the network make blocks almost impossible to tamper with.  Transparency – The entire transaction history is visible to all network participants, enhancing trust among users.  Security – Blockchain uses consensus mechanisms such as proof-of-work and proof-of-stake to ensure all transactions are valid. While blockchain is best known for cryptocurrencies, like Bitcoin, Ethereum, Tether (USDT) and many other coins, its application extends beyond digital currencies. Its decentralized nature has the potential to revolutionize many industries, with use cases in supply management, healthcare, finance, identity verification and more.  The Role of Decentralized Finance in Reshaping Industries Decentralized Finance (DeFi) plays an important role in reshaping industries by challenging traditional banking with decentralized alternatives for: Lending Borrowing Trading Thanks to smart contracts, the speed and accuracy of transactions is significantly increased. These self-executed contracts allow the creation of terms directly written into the code, automating and streamlining various business processes as a result.  The utilization of such contracts, created directly on the blockchain, allows entrepreneurs to generate and execute seamlessly: Legal agreements Real estate transactions Insurance claims Finally, smart contracts enable the creation of various fi...

2024 is shaping up to be an eventful year in the tech and digital world, with a myriad of new developments and trends taking center stage. From the growing ambitions of studios in the live service space to the emergence of Georgia’s digital nomad visa, there's no shortage of innovation and change in sight. Meanwhile, major players like Meta are making moves to address government pressure, while reports suggest that Apple is offering significant discounts on their iPads and other products. In the fintech world, Paytm shares have seen a significant drop in response to an RBI ban. At the same time, crypto startups are seeking tax relief and regulatory clarity after a year of setbacks, and FTX founder Bankman-Fried managed to avoid a second trial after a previous fraud conviction. Space tech is also making headlines, with everything from India planning to launch a satellite-based gigabit internet to the development of Africa’s first private space satellite by young girls. On top of that, tech giants like Microsoft are launching new initiatives to skill developers and contribute to the global AI landscape. New WhatsApp features, the launch of Worldcoin in Singapore, and updates to Apple’s app store policies are just a few of the many intriguing developments taking place. Overall, 2024 seems to be a year of seismic shifts in technology and digital innovation, with a plethora of exciting news stories capturing attention around the world. It's essential for journalists and industry professionals to keep an eye on these trends, as they are sure indicators of where the industry is headed and how the ever-evolving tech landscape will continue to influence our lives.

As we approach Christmas and reflect on this year, everyone has faced challenges. However, crises often signify opportunities, and industries mature as governments become more involved. The industry category is now officially classified as FinTech. As laws gradually become robust, scammers depart, and globally, virtual asset sellers are categorized as VASPs. I believe that in the future, it won't only be exchanges requiring VASP registration. Even with NFTs being classified as virtual assets, registration might become necessary. We can observe Japan's strict approach to NFTs. A few days ago, I heard a former Premier of Taiwan Executive Yuan say something that resonated with everyone: "This industry currently resembles a child without a mother's guidance, and a child without a mother actually feels quite pitiful." The government serving as a bridge between the real and crypto worlds is the key to gaining public trust. With endorsements from banks and international financial organizations, the stigma will gradually fade. I also feel like that VASPs worldwide must actively engage with governments. Based on our contacts with the FSA, I believe governments are eager to have further dialogue with us under the considerations of innovation and compliance. If we believe in expanding Web3 and the internet, it's crucial to collaborate rather than compete. As Web3 entrepreneurs, our creativity surpasses traditional entrepreneurs, and we can create business models beyond B2B2C and O2O, surpassing the e-commerce paradigm. In 2024, besides technical aspects, my primary focus will be on applied business models. Of course, we mustn't forget the critique that we are "innovation-coated money laundering." As VASPs, we cannot allow governments to perceive this as reality. Beyond the regulatory cliff, this is a challenge we must face post the era of increased oversight. #NFT #Asia #Japan #Fintech #Innovation #Web3

Why Now is the Best Time for US-Based FinTech and Blockchain Startups to Enter the UK and European Markets The European FinTech and blockchain landscapes are ripe with opportunity for US-based startups. Here's why: Market Growth: European FinTech market expected to reach €71.7 billion by 2026 (Statista) UK FinTech adoption rate at 71%, surpassing global average (EY) European blockchain spending forecast to hit $4.9 billion by 2023 (IDC) Progressive Regulations: PSD2 opens banking APIs for FinTech innovation MiCA regulation to provide clear framework for crypto assets Open Banking Revolution: 70% of European banks see open banking as key opportunity (Tink) UK reports millions of successful API calls monthly Blockchain and Crypto Adoption: Switzerland's "Crypto Valley" is a global blockchain hub Germany allows banks to sell and store cryptocurrencies Talent Pool: London employs over 44,000 in FinTech (Innovate Finance) European universities offering specialized FinTech and blockchain courses Robust Funding: European FinTech investment reached $31 billion in 2021 (KPMG) Blockchain/crypto startups raised $4.1 billion in 2021 (Dealroom) Collaboration Opportunities: 82% of European banks plan to increase FinTech partnerships (PwC) EBSI initiative for blockchain in public sector Digital Currency Developments: ECB exploring digital euro Sweden's e-krona project advancing Post-Brexit Opportunities: UK government initiatives to strengthen FinTech sector New visa routes easing entry for US startups Diverse Testing Ground: Varied regulatory environments prepare for global expansion Different adoption levels allow targeted market entry Despite challenges like regulatory complexity and market fragmentation, the potential rewards are substantial. Thorough market research, strategic partnerships, and understanding the regulatory landscape are key to success. Ready to tap into the lucrative UK and European FinTech/blockchain markets? Don’t navigate this complex landscape alone. Our agency specializes in helping US-based startups like yours make a successful entry into these thriving ecosystems. With our deep market knowledge, regulatory expertise, and extensive network, we can accelerate your expansion and help you capitalize on these opportunities. Contact us today to discuss how we can tailor a strategy for your successful launch into the UK and European markets. Let's turn your global ambitions into reality. 😎

Second, Innovation of production relations in Chainless systems Leave a Comment / By WeishaZhu and 卢小波 / November 3, 2023 Introduction The WEB3.0 chainless financial platform is referred to as the chainless platform. Its design breaks out of the constraints of the blockchain, and there is no limit to the impossible triangle of the blockchain. Cryptocurrency is better than advanced ideas, but its development is slow. According to statistics from PANews, at the end of 2022, there are 1,259 active DAPPs in Ethereum, which is really pitiful. The chainless platform adopts the idea of cryptocurrency and designs a transparent and centralized platform. The external characteristics are no different from the blockchain ledger. It is also a platform that implements openness and fairness and cannot be tampered with. Only in this way can the design compete with the ease of use of Web2, be popularized on a large scale, and make the number of DAPPs jump by an order of magnitude. Chainless design has no technical innovation and uses mature technology; it has unique innovations in products, incentives, communities, and core teams. This series has 5 sections in total. One is product innovation; the second is production relationship innovation; the third is business model innovation; the fourth is the role of the core team; and the fifth is the Interesting Reads Chainless Platform. Second, Innovation of production relations in chain-free systems In layperson’s terms, production relations are the relationships between people. One of the most important relationships between people is money. The second chapter of the chainless white paper,” Incentives,” and the third chapter, “Community Governance and Indirect Incentives,” are about innovatively designing relationships between people’s interests under legal conditions. Community economic phenomena require new legislation Chapter 2, “Incentives,” and Chapter 3, “Community Governance and Indirect Incentives” of the chainless white paper belong to the production relations section. There are almost no eye-catching research results in this cryptocurrency section, and there is not much progress compared with Bitcoin. After China’s reform and opening up, there was an additional element of entrepreneurs, and their fate determined China’s national destiny. After the emergence of the Internet, there are two more elements: group owners and big Vs. The group owner represents relationships, and Big V represents knowledge. The boundary of relationships and knowledge is the boundary of the Internet. The organization of relationships and dissemination of knowledge transcend national borders and existing legal boundaries. We have watched social e-commerce grow taller, and we have watched them decline. They try to revitalize the value of relationships, which is the intuition of entrepreneurs, but it is also easy to https://lnkd.in/efrSU8zb

Introduction to STON.fi DEX: A Revolutionary Platform in Decentralized Finance In the rapidly evolving world of decentralized finance (DeFi), STON.fi DEX has emerged as a game-changer. As a decentralized exchange, STON.fi provides users with a platform to trade, swap, and stake tokens securely without the need for intermediaries. This article will explore the key features of STON.fi DEX and explain why it stands out in the competitive DeFi landscape. What is STON.fi DEX? STON.fi DEX is a decentralized exchange platform that allows users to trade cryptocurrencies directly from their wallets. Unlike centralized exchanges, where funds are held by a third party, STON.fi DEX operates without intermediaries, giving users full control over their assets. Built on blockchain technology, STON.fi ensures transparency, security, and fast transactions, making it a preferred choice for traders and investors in the DeFi space. Key Features of STON.fi DEX 1. Decentralized Trading: STON.fi enables peer-to-peer trading of digital assets. By leveraging smart contracts, transactions are executed directly on the blockchain, eliminating the need for a central authority. 2. Liquidity Pools: Users can provide liquidity to various pools on STON.fi and earn rewards in return. This feature not only ensures smooth trading but also offers opportunities for passive income through liquidity provision. 3. Token Swapping STON.fi allows users to swap tokens seamlessly. Whether you're looking to exchange a major cryptocurrency or a lesser-known token, STON.fi offers a wide range of trading pairs. 4. Staking: One of the standout features of STON.fi DEX is its staking option. Users can stake their tokens to earn rewards, further incentivizing participation in the platform. User Benefits of STON.fi DEX 1. Lower Fees: Unlike centralized exchanges, which often charge high fees for transactions, STON.fi DEX offers competitive and transparent fee structures, making it cost-effective for users. 2. Decentralized Governance: STON.fi DEX is governed by its community, meaning that users have a say in the platform's future. This decentralized approach ensures that the platform remains user-focused and aligned with the community's needs. 3. Security and Transparency: With all transactions recorded on the blockchain, STON.fi offers unparalleled transparency. Additionally, since users maintain control of their private keys, their assets remain secure from potential hacks or mismanagement by a central entity. Conclusion STON.fi DEX is more than just a trading platform; it's a comprehensive ecosystem designed to empower users in the world of decentralized finance. With its robust features, user-centric design, and commitment to transparency and security, STON.fi DEX is poised to play a significant role in the future of DeFi. Whether you're a seasoned trader or a newcomer to the space, STON.fi DEX offers a reliable and innovative platform for your decentralized finance needs. STON.fi DEX

📢 𝗦𝘁𝗿𝗶𝗽𝗲’𝘀 𝗖𝗿𝘆𝗽𝘁𝗼 𝗖𝗼𝗺𝗲𝗯𝗮𝗰𝗸: 𝗣𝗶𝗼𝗻𝗲𝗲𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗜𝗻𝘁𝗲𝗿𝗻𝗲𝘁 𝗘𝗰𝗼𝗻𝗼𝗺𝘆 𝘄𝗶𝘁𝗵 𝗦𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻𝘀 Stripe's re-entry into the crypto space is a strategic move with far-reaching implications and aligns well with their vision statement - increasing the GDP of the internet 🌐. Forget the Bitcoin bust of 2018 - this time, it's playing the long game with stablecoins. Here’s a look at their recent move: 1️⃣Broadening Access to Digital Payments ↳ By incorporating stablecoins like USDC, Stripe is expanding the range of payment options available to internet businesses and their customers. Stablecoins offer the benefits of cryptocurrencies, such as borderless transactions and potentially lower fees, without the price volatility associated with traditional cryptocurrencies like Bitcoin. 2️⃣Reaching More Customers ↳ Each blockchain (Ethereum, Solana Foundation, Polygon Labs) has its own user base, allowing Stripe to tap into these different consumer groups and potentially reach a wider audience for merchants. 3️⃣Improving Transaction Efficiency ↳ Stripe opted out of Bitcoin due to its slow transaction speeds and high processing costs, making it impractical for fast-paced commercial environments. By embracing platforms like Polygon for stablecoin transactions, Stripe ensures rapid settlements and reduced expenses, enriching payment experiences. 4️⃣Facilitating International Transactions ↳ One of Stripe's goals is to make economic participation more globally accessible. Stablecoins are inherently borderless, facilitating smoother international transactions by minimising the need for currency conversions and reducing transaction fees - thus boosting online marketplace engagement and internet GDP. 5️⃣Building a Robust Economic Infrastructure for the Internet Economy ↳ By integrating stablecoin payments, Stripe is also actively contributing towards a more robust economic infrastructure for the internet economy. Using efficient blockchains like Ethereum, stablecoins provide reliable, scalable payment solutions vital for internet economy's growth. _____________________ 🔍 Stripe's got a lot more brewing in the economic infrastructure space. Want a deep dive into their strategic bets? Download our exclusive report, "Stripe's Economic Infrastructure Playbook," where we crack the code on Stripe's entire strategy, including: ▪️ How Stripe empowers creators with robust commerce tools, forging an omnichannel future of seamless transactions. ▪️ Stripe's exploration of digital assets & web3, charting the path for decentralised finance, and how you can capitalise on the emerging trends in this space. ▪️ Its focus on embedded finance, integrating financial services into everyday apps. Equip yourself with actionable insights on building the economic infrastructure for the internet here ➡️: https://lnkd.in/gcxDKq8q via WhiteSight #fintech #we3 #crypto #stablecoins #digitalassets #StripeSessions2024