Adoption News
A Swiss hospitality company called Gabbani has announced a new project that combines sustainable energy practices with cryptocurrency mining. The project aims to use the excess energy from Gabbani’s food production facilities for a state-of-the-art Bitcoin mining system. As part of this initiative, Gabbani is also launching a product called “the Banettone” to support Plan ₿, an initiative between the City of Lugano and Tether that aims to transform the city’s financial infrastructure using Bitcoin technology. ACME, a Swiss company specializing in bitcoin mining and renewable energies, has contributed to the project by providing a turnkey solution.
Investing News
Helix, a decentralized orderbook exchange built on Injective, has launched Pre-Launch Futures. This allows users to trade upcoming tokens before they are officially listed on public cryptocurrency exchanges. The first Pre-Launch Futures market available on Helix will feature Celestia (TIA), which is expected to launch its token on major exchanges in the coming weeks. Additionally, WeStreet Credit Union, a traditional federally regulated credit union, has made its Crypto Portal available to the public. This portal allows users to buy, sell, and hold digital currencies such as Bitcoin, Ethereum, and Litecoin through their online banking app.
Exchange News
Digital Asset Research (DAR) has released its October 2023 Crypto Spot Exchange Vetting results. DAR evaluated over 500 centralized spot exchanges and identified 19 Vetted Spot Exchanges. Luno has been added as a new Vetted Spot Exchange, while other exchanges such as Bitfinex, Coinbase, and Kraken continue to be recognized as Vetted Spot Exchanges.
Payments News
Wirex, a crypto payments platform, has introduced the Wirex Dual-Mode Card. This card merges the reliability of traditional financial systems with the potential of decentralized finance (DeFi). The Dual-Mode Card offers two distinct modes: Debit Mode, which functions like a traditional debit card for transactions in fiat currencies and stablecoins, and Credit Mode, which uses crypto holdings as collateral for decentralized lending and borrowing through DeFi protocols.
Blockchain News
Ernst & Young (EY) has announced the fourth generation of EY Blockchain Analyzer: Reconciler. This tool helps organizations derive wallet addresses and query on-chain data from an independent third party to enhance internal risk management. Fidelity Digital AssetsSM is the first enterprise to use this web-based analytics tool, which is available through EY Blockchain’s SaaS platform. The tool provides analytical dashboards to identify matches and mismatches in transactions, wallet address balances, and digital signatures.
Hot Take: Crypto Integration in Various Industries Continues to Expand
The adoption of cryptocurrency and blockchain technology in various industries continues to grow. Companies like Gabbani are finding innovative ways to combine sustainable practices with cryptocurrency mining. Additionally, platforms like Helix and Wirex are democratizing access to crypto trading and payments by merging traditional financial systems with decentralized finance. The recognition of Vetted Spot Exchanges by Digital Asset Research highlights the importance of trusted and reliable platforms for crypto trading. Lastly, tools like EY Blockchain Analyzer: Reconciler are providing organizations with enhanced risk management capabilities through blockchain analytics. As the crypto industry matures, we can expect further integration across different sectors.
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