Investment News: Block Acquires Music Startup Hifi
Fintech firm Block, founded by Jack Dorsey, has acquired music-centric startup Hifi. The deal aligns with their shared purpose of economic empowerment. This marks Block’s second investment in the music tech industry, following their acquisition of music streaming service Tidal in 2021. The specific terms of the deal have not been disclosed.
Payments News: VALR Announces Strategic Partnership with Visa
VALR, the largest South African crypto exchange by trading volume, has announced a strategic partnership with Visa. This partnership will enable the issuance of Visa cards and the delivery of other digital payment solutions. Recently, VALR obtained approval to offer crypto services in Europe and is in the process of obtaining licenses in Dubai, Mauritius, and South Africa. Visa has previously partnered with major global crypto asset service providers such as Coinbase, Crypto.com, and Circle.
Blockchain News: Roland Berger Partners with The DFINITY Foundation for Recycling Credits Standard
Roland Berger, a global management consultancy, has partnered with The DFINITY Foundation to develop a blockchain-powered Voluntary Recycling Credits (VRC) standard. This standard aims to incentivize recycling activities and address the growing global waste issue. By incorporating blockchain technology into the VRC standard, secure and transparent tracking of offset activities can be ensured.
Acme Building Intent-Based Network for Simplifying On-Chain Transactions
Acme, founded by Nilesh Khaitan from Venmo, is building an intent-based network called OneTap to simplify on-chain transactions. Acme’s network aims to make on-chain transactions accessible to non-crypto natives and empower developers to streamline digital asset transactions with just one API call. Acme is backed by Safe’s Account Abstraction SDK and Gelato’s Gasless Relayers, ensuring security and abstracting gas fees.
Exchange News: KuCoin Launches Pre-Market Trading, Bitget Demonstrates High Reserve Ratio
KuCoin has launched Pre-Market Trading, the first over-the-counter (OTC) trading product among CEXes that allows users to trade new tokens before official listing. This feature provides early access advantages to retail investors and professional users/institutions. Celestia is the first project featured in Pre-Market Trading. In other news, Bitget has released its monthly Proof of Reserves (PoR) report, demonstrating a total reserve ratio of 207%. User funds on Bitget are fully backed 1:1 and available on demand.
Hot Take: Blockchain and Crypto Industry Continues to Expand
The blockchain and crypto industry is witnessing significant expansion with notable investments, partnerships, and innovative developments. Fintech firm Block’s acquisition of music startup Hifi demonstrates their commitment to economic empowerment. VALR’s partnership with Visa strengthens the integration of digital payment solutions. The collaboration between Roland Berger and The DFINITY Foundation aims to revolutionize waste management through blockchain technology. Acme’s intent-based network simplifies on-chain transactions for non-crypto natives. KuCoin’s Pre-Market Trading offers early access advantages, while Bitget ensures transparency and security with a high reserve ratio. These advancements highlight the continuous growth and potential of the blockchain and crypto ecosystem.
By
By
By