Author: chainwire

New York, New York, June 30th, 2023, Chainwire

Memecoin Mooky is gearing up for its final presale phase, having raised $900,000 to date. More than just a novel crypto token, Mooky aims to support the environment through a major tree-planting campaign.

Mooky will be a community-driven platform whose governance lies in the hands of its token holders. While the MOOKY token draws its cues from other successful memecoins, the project has a more ambitious mandate. Mooky was conceived to increase awareness of global environmental challenges and to provide real-world solutions.

The project aims to raise enough funds to sustain an extensive reforestation initiative in key locations around the world. As part of its commitment to nature, Mooky has earmarked donations to charities working on sustainable environmental causes.

From a crypto-economic perspective, the MOOKY token features zero tax and low slippage, providing ample incentives for traders to get involved. Underpinning the project is a deep lore that aligns with Mooky’s core goals.

Mooky is based on the concept of a mythical land called Pygmy. This fantastical realm has stunning landscapes, abundant vegetation, and wildlife. As settlers came to the island, they destroyed the vegetation and polluted the air. The monkeys of Pygmy decide to fight back peacefully, teaching the settlers how to respect nature and live harmoniously. Under the leadership of Mooky, they become united and restore nature.

To support the project’s development while providing greater opportunities for community participation, Mooky has created a collection of 1,000 NFTs. Each NFT is linked to a tree planted in the real world. Holders can access the Ventures Club, which grants access to exclusive rewards and events.

With five days left in the $MOOKY token presale, there is still ample opportunity for crypto holders to get involved and capture the upside to a project that combines memes and nature to great effect.

About MOOKY

MOOKY is a community-driven initiative launched in 2023 that embraces the spirit of digital innovation to make a positive impact on the environment. More than just a meme token, MOOKY represents a global community united by a common goal: to inspire change and contribute to global tree-planting efforts.

MOOKY also stands as a symbol of creativity in the digital space, offering unique 3D NFTs that are each linked to real-world tree-planting initiatives. These NFTs serve not only as digital collectibles but also as an entry ticket to the exclusive Mooky Ventures Club, a vibrant community of environmentally conscious enthusiasts.

MOOKY is more than a digital token; it’s a movement aiming to better our environment while fostering a unique and engaging digital ecosystem. Join MOOKY in its journey to make a difference and follow the community on various social channels to stay updated.

Users can purchase MOOKY here.

Website | Presale | Telegram | Instagram | Twitter | Discord

Contact

Mookashi N
contact@mooky.io

Hong Kong, China, June 28th, 2023, Chainwire

DWF Labs, the global digital asset market maker, and multi-stage Web3 investment firm, has further strengthened its commitment to support the growth of Conflux, the tree-graph consensus algorithm Layer-1 blockchain. Conflux has been gaining significant traction since February 2023 on the back of some key partnerships, including the signature collaboration with China Telecom announced on February 15th, with the goal of developing a blockchain SIM (BSIM) card that was first unveiled in May.

DWF Labs recently purchased $18M in CFX token, cementing the long-term relationship between the investment firm and Conflux. This follows DFW Labs buying $10M worth of CFX tokens in March 2023.

More recently, Conflux joined Hong Kong’s Web3 Institute, participated in the Singapore Digital Economy Roundtable organized by the Singaporean Government, and led the drafting of IEEE P3217, an international blockchain standard by the Institute of Electrical and Electronics Engineers. In addition, Conflux announced key partnerships including: 

• Supremacy – Web3 security platform
• dappOS – an operating protocol that manages crypto infrastructures for users
• NuLink – a privacy-preserving technology that provides APIs for decentralized applications
• Smooth Labs – developing the Layer 2 solution that supports parallel execution
• Opside – a decentralized ZK-RaaS network featuring PoW of ZKP mining

DWF Labs has made significant contributions to placing Conflux on the global stage. Since then, Conflux has established ecosystem partnerships with Floki, Worldcoin, Blockbank, Luganodes, AirDAO, Mask, and OpenEden, with a growing list of ongoing partnerships being discussed. Conflux and DWF Labs have also co-hosted multiple events, including those organized in Hong Kong, Tokyo, and Paris.

Fan Long, Conflux Network’s Co-Founder, stated: “Conflux Network has experienced exponential growth since the start of 2023, pioneering advances in the Chinese NFT market and establishing fresh Web3 access through the BSIM card project with China Telecom. DWF Lab is one of the key supporters of Conflux. This infusion of capital not only strengthens our bond, but also acts as a catalyst for our shared ambition to expand the Conflux ecosystem. Conflux plans to leverage the raised funds to further fuel its ecosystem growth in Asia and Hong Kong, empower burgeoning developer communities, and bring an increasing number of real-world assets onto the Conflux chain.”

The Managing Partner of DWF Labs, Andrei Grachev stated: “We take great pride in our role as supporters of Conflux throughout its remarkable growth trajectory. It exemplifies our commitment to backing projects with immense potential and providing the necessary support to fill in the missing pieces of the Web3 puzzle. Our deep understanding of the crypto market has served as a compass for Conflux, allowing it to fully express its potential on the global stage. We are delighted to have played a part in Conflux’s journey towards success.”

About Conflux

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols.

Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.

As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

About DWF Labs

DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.

With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high-frequency trading.

Contact

Melissa Tirey
conflux@shift6studios.com

Dubai, UAE, June 27th, 2023, Chainwire

OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today launched its new ‘Nitro Spreads’ feature on its institutional Liquid Marketplace, an OTC, futures spreads and options liquidity network, allowing traders to make complex basis trades with simple one-click execution.

Basis trading is a strategy built around trading the difference between an asset’s price on two separate markets, such as spot vs. futures, and can generate returns when executed properly. It typically requires both legs of the trade to be managed simultaneously, which can be cumbersome. OKX’s Nitro Spreads automates this complex trade into one click, leveraging the platform’s superior liquidity and low latency for maximum user benefit.

Nitro Spreads is also one of the only basis trading tools in the crypto market in which the two legs of the trade are executed via a central orderbook, eliminating leg risk between markets. Before execution, traders can also select a guaranteed spread for a trade, mitigating unexpected price slippage. Trades are then matched and settled immediately.

OKX Global Chief Commercial Officer Lennix Lai said: “In the current complex market environment, institutions demand reliability, predictable returns and genuine innovation when choosing a trading venue. This is especially true in basis trading, where precision is paramount. Nitro Spreads raises the bar for the industry for efficient basis trading, and we invite institutional traders everywhere to see how it can enhance their strategies and contribute to their success.”

A variety of basis trading strategies can be executed by institutional traders through Nitro Spreads’ easy-to-use interface. Institutional traders can employ popular delta one spread strategies like calendar spreads, future rolls and funding rate farming – all in an orderbook format.

The on-demand OKX Liquid Marketplace provides access to deep institutional liquidity and a number of crypto trading strategies, including futures spreads, large options block trades or spot OTC, to run at scale. In April, OKX announced that the Liquid Marketplace exceeded USD1 billion in trading volume during the first three months of 2023.

About OKX

OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

Contact

Press
media@okx.com

Georgetown, Cayman Islands, June 23rd, 2023, Chainwire

Tether chooses Kava, a layer-1 blockchain designed for scalability and speed, as its gateway to the Cosmos ecosystem. Kava is excited and honored by Tether’s decision to bring the world’s most liquid, secure, and transparent stablecoin USDt to Cosmos appchains and Kava EVM dApps.

https://twitter.com/Tether_to/status/1671445095965499393?s=20

“Kava’s support of Tether’s USDt integration will help bring stability and unlock liquidity across Cosmos and EVM ecosystems. Native USDt issued on Kava will address the limited growth, low liquidity, and increased volatility of using the Cosmos ecosystem, and help ignite a robust DeFi economy, empowering appchains, EVM dApps, and their users with a secure and widely adopted canonical stablecoin,” said Scott Stuart, Kava Co-Founder.

Tether’s decision to integrate USDt natively on Cosmos, using Kava as a hub, will bring accessibility and financial stability to users and developers within the Cosmos ecosystem. Unlike external bridge solutions; which proliferate dozens of versions of a wrapped asset, siloing liquidity, discouraging participation, and harming user experience; natively issued USDt on Kava simplifies the process, and offers a streamlined, efficient mechanism for stablecoin liquidity provision and transfer between the Cosmos and Ethereum ecosystems.

As a result, this integration could potentially catalyze a significant expansion of the DeFi economy on Cosmos, providing a compelling solution to the liquidity problem that has been challenging since the collapse of Terra’s UST in Q1 2022. Deploying Tether, a stablecoin with a strong market reputation and ~65% dominance, will also offer increased security and reliability to users and developers alike.

“The Kava network is a unique and widely followed blockchain with a robust track record of four years with zero security issues, which is essential to protecting USDt users,” said Paolo Ardoino, CTO at Tether, in the June 21, 2023 announcement. “Together, we aim to reshape the future of decentralized finance, fostering a robust and inclusive ecosystem that benefits users worldwide.”

About Kava

Kava is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network. Committed to fostering innovation and growth, Kava is a trusted choice for developers and users worldwide. 

For more updates, follow Kava on Twitter.

Disclaimer

This press release is not an offer to sell or the solicitation of an offer to buy USDt or KAVA tokens.

Contact

Media Manager
Guillermo Carandini
Kava
guillermo.carandini@kava.io

Stockholm, Sweden, June 15th, 2023, Chainwire

BLK DNM bridging the Physical and Virtual Worlds of Fashion through Blockchain Innovation

Swedish-American fashion brand BLK DNM today unveils the first-ever example of connected fashion (garments that exist both physically and virtually, each aspect ‘twinned’ via technology) with the launch of BLK DNM Society and integration of blockchain-powered hardware and software into its products.

BLK DNM Society, built on tech designed by blockchain innovator and BLK DNM owner ChromaWay, will grant each garment a unique and recordable identity in both the physical and virtual worlds, while also rewarding ethical behaviour and granting brand influence to owners.

• Blockchain-powered ‘digital garment ID’ microchips will give each item a unique identity and record of its history
• Chips form the hardware element of BLK DNM Society, which launches in tandem and rewards responsible behavior and ownership
• Tech will first appear in BLK DNM’s FW 2023 collection

The Hardware: Digital Garment IDs

Future BLK DNM clothing will be fitted with a ‘digital garment ID’ – an undetectable chip that gives each physical item a unique and recordable identity. Some of the first features of the digital garment IDs will include:

• Authentication of the garment as genuine, eliminating fakes and counterfeiting
• Rewarding responsible behaviours of treasuring and caring for clothing long-term, such as refurbs and second-hand purchases
• Recording each individual garment’s unique history – owners, events and places worn, repairs and alterations – enabling the item to accrue emotional and monetary value over time
• Acting as a digital ticket for entry to events
• Access to and voting rights within BLK DNM Society

BLK DNM Society

The digital garment IDs are the first hardware elements of BLK DNM Society, which launches in tandem. The first example of connected fashion, BLK DNM Society is a community of BLK DNM owners, connected virtually by their physical items, who are rewarded for responsible behaviours and are granted voting rights on key brand decisions based on item ownership – thereby beginning the first ever process of decentralising a fashion brand’s stewardship.

Each digital garment ID will create a ‘digital reflection’ of the physical garment: a twin in the virtual world where the physical item’s history and place within BLK DNM Society is recorded. The digital reflection can also be worn in the metaverses, catering especially to younger generations whose identities in virtual worlds are equally as important as in the physical.

FW 2023

Digital garment IDs will be revealed at BLK DNM’s FW event in Paris on June 21st. For this first collection, the chips will be embedded in only leather items, with subsequent collections introducing more items to BLK DNM Society through embedded blockchain-enabled hardware.

Henrik Hjelte, CEO and Co-founder of ChromaWay, comments: “This is totally futuristic. Nothing like this has been attempted in fashion before. It’s very exciting for us, after much hard work, to see our technology elevating one of fashion’s iconic brands into something completely unique. This has the potential to transform people’s relationships with the clothes they wear and the brands they buy. No longer does the relationship with the customer end at the checkout. And each beautiful garment now becomes its own living, evolving piece of history.”

Toni Collin, CEO of BLK DNM, and Henrik Hjelte, CEO and Co-founder of ChromaWay

Toni Collin, CEO of BLK DNM, comments: “BLK DNM’s philosophy is one of community, and our clothing is designed, through both its craftsmanship and timeless aesthetic, to be treasured and passed down through generations – the antithesis of irresponsible fast fashion. Now, with the introduction of BLK DNM Society and the first embedded hardware in our garments, we take those two pillars to a revolutionary new level. By embedding intelligence in every item, we hope we can inspire our industry to join us in using connected fashion to do better.”

About BLK DNM

BLK DNM is a Swedish-American fashion brand that specialises in timeless tailoring, leather, and denim of extraordinary quality. Following its 2023 relaunch as an entry-luxury fashion house under the stewardship of new Creative Director Jessy Heuvelink, BLK DNM’s focus on both enduring craftsmanship and aesthetic timelessness encourages customers to love and treasure each item for decades and across generations.

About ChromaWay

ChromaWay is an industry leader in blockchain technology and specializes in creating and deploying cutting-edge, scalable blockchain solutions for both businesses and governments. The company, which was established in 2014 and has its headquarters in Stockholm, Sweden, has been at the forefront of driving the widespread adoption of blockchain technology. Its flagship product, relational blockchain Chromia, enables developers to build decentralized applications (dApps) with a relational database model that offers unprecedented scalability and flexibility.

Contact

Fati Hakim
Fati.Hakim@ChromaWay.com

New York, New York, June 15th, 2023, Chainwire

Parcl’s market expansion increases access to investors seeking exposure to real estate prices via Real World Asset (RWA) Indexes

Parcl, the leading blockchain-powered real estate trading platform, announced today the launch of Austin, TX, to its ever-growing list of tradable city indexes. In addition to Austin, Parcl recently launched indexes for Boston, Atlanta, Philadelphia, Chicago, Seattle, Denver, Portland, and Washington, D.C., more than doubling its market pool for investors.

Parcl makes investing in an entire city’s residential real estate market possible, unlocking access to high-demand markets like New York, Los Angeles, and Miami. Parcl merges real estate and DeFi to amplify access and portfolio diversification opportunities for traders around the world.

Adding Austin, one of the fastest-growing housing markets in the U.S., solidifies Parcl’s commitment to providing a broad spectrum of high-potential markets to traders. This increases investor access to 16 dynamic tradable markets and builds upon Parcl’s mission of increasing access to real estate investing on a global scale. 

“Real estate is the largest asset class in the world – the largest investment many people will make in their lives. It’s also the market that has the lowest liquidity and the highest barriers to entry,” said Trevor Bacon, Parcl CEO and co-founder. “Integrating these high-demand markets signifies Parcl’s dedication to continuous growth, providing traders access to diverse and burgeoning markets.”

Built on Solana – a blockchain designed for decentralized, scalable applications – Parcl facilitates real-world real estate trades in real time. The platform’s rapid growth since its launch in February demonstrates significant market need for innovating around real estate investing.

“Austin’s integration provides traders with another dynamic real estate market to diversify their portfolio,” Bacon said. “This move is consistent with Parcl’s goal to enhance market access and user engagement, as evidenced by all-time highs in user activity, open interest, and trading volume on the decentralized trading application.”

The addition of more North American cities is on the near term horizon, with global cities following shortly thereafter. Parcl’s illustrated market growth builds upon its aspiration of becoming the simplest platform for global real estate trading, and illustrates its commitment to the core mission of making real estate investing accessible to everyone, everywhere.

Parcl is designed which features appeal to the modern investors, offering high liquidity, low transaction fees, and no minimum investment requirements. Traders can now trade real estate indexes as effortlessly as Bitcoin, Ethereum, or other crypto assets.

About Parcl

Parcl is a DeFi real estate trading platform revolutionizing the way individuals globally engage with real estate investment. Combining the strengths of blockchain technology with traditional real estate, Parcl offers a simple, efficient, and accessible real estate trading experience. 

For more information, visit www.parcl.co.

Contact

CMO
Will Leatherman
Parcl
will@parcl.co

Tokyo, Japan, June 15th, 2023, Chainwire

 

Setting the long-term direction, the Astar 2.0 Vision aligns tokenomics, organizational structure, and key pillars of technology to drive Web3 mass adoption

Astar Network, the smart contract platform for multichain, is delighted to introduce the ‘Astar 2.0 Vision’ as it aims to drive mass adoption of Web3 to billions of users. With developers’ growing interest in base layers that offer scalability, security, and interoperability, Astar Network aims to position itself as the go-to Layer-1 blockchain by providing them with all the tools, resources, and support to help them build unstoppable dApps.

The ‘Astar 2.0 Vision’ sets the long-term direction for the rapidly-growing Astar ecosystem. It aligns the network’s tokenomics, organizational structure, and pillars of technology to achieve its mission of enabling Web3 innovations that empower billions of people worldwide.

1. Tokenomics

Astar Network will revamp its current tokenomics to align with the long-term vision and the DAO will make Astar sustainable for the future.

The Astar Foundation is building this with the community in forums to gain their valuable insights. A redesigned ASTR token better serves the needs of network participants, from users and builders to enterprise partners. It’s essential to ensuring a sustainable future of growth and success.

2. Astar Link

Connects the fragmented layers of the blockchain industry. With customizable options and tailor-made SDKs, developers can create limitless solutions. Astar Link unlocks diverse use cases from gaming to enterprise that is only possible by linking different ecosystems to each other.

3. Organizations supporting Astar Network

1. Startale Labs – The enterprise arm that enables users and businesses to embrace blockchain in Japan. With a focus on Web3 infrastructure, Startale aims to build innovative products to enable the widespread adoption of Web3 technologies.
2. Astar Foundation – It is currently the main contributor and maintainer of the Astar Network Source Code. The Foundation deploys resources to expand Astar Network through partnerships, community activities, hiring developers, funding projects, and other initiatives.
3. Formation of Astar DAO – Astar is actively working with the community to realize this goal in Community Forums. The DAO will help create an unstoppable network by embracing decentralization and handing governance to the community. Anyone can use Astar Network anywhere to improve their communities

4. Creating unstoppable dApps

Improving the developer experience to help them build unstoppable dApps with two pillars of technology:

1. Cross-chain applications – Astar supports both EVM and WebAssembly (WASM) environments, and interoperability between them using a Cross-Virtual Machine (XVM). With XVM, smart contracts will work seamlessly regardless of the blockchain. Astar 2.0 brings more options and is scalable.
2. DApp staking – Improved tokenomics will return more value to builders and stakers via dApp staking. Astar’s innovative Build2Earn program empowers developers to get paid through a dApp staking mechanism for the dApps they build. It allows network users to stake their tokens to support their favorite projects.

5. Supernova: Paving the path forward

Actions speak louder than words. Watch out for our coming updates in the middle of Q3 which will see Astar deliver on its web3 promises. Like a supernova exploding and impacting the universe, Astar aims to have the same impact in the web3 universe. Bringing Astar technology and vision to the masses.

Interested developers and users can explore the 2.0 Vision here. Moreover, Japan’s leading corporations have shown strong belief in Astar’s vision and its ability to execute. Astar will share more details later in June and July.

The Astar Foundation and Startale Labs have been working with many of the world’s leading global players to achieve the 2.0 Vision. Japan’s leading corporations including Toyota Motor Corporation and Sony Network Communications have teamed up with Astar Network to explore the opportunities in Web3.

Sota Watanabe, the Founder of Astar Network, said, “We will push the network to unlock Web3 for billions. Each part of Astar 2.0 is being shaped and improved, starting with token economics and developer tooling to ensure the sustainable long-term growth of the network.”

Astar Network is the leading Layer-1 in Japan, having been voted the most popular blockchain in the country by the Japanese Blockchain Association. It is the go-to blockchain for developers and enterprises interested in exploring the Japanese Web3 space. Astar is also the first public blockchain from the country to be listed there despite Japan’s strict listing regulations. Astar’s native token ASTR is registered as a cryptocurrency, not a security, by the Japanese government.

 

About Startale Labs

Startale Labs is a web3 tech company developing multichain applications and infrastructure. We also conduct R&D and incubation activities based on the experience and connections developed in coordination with Astar Network. In addition, a subsidiary, Startale Labs Japan, was established on January 31st 2023 to provide web3 business development and strategic consulting services to corporate enterprises and governments, leveraging the strengths of Japan’s most widely-recognized public blockchain.

 

About Astar Network

Astar is Japan’s most popular smart contract platform, supporting both EVM and WebAssembly (Wasm) environments, and interoperability between them using a Cross-Virtual Machine. Astar Network is friendly to all kinds of developers, and tools and languages they already know. Backed by the shared security of Polkadot, Astar shines brilliantly on its own within a vibrant and healthy ecosystem, and is a leading star in the blockchain industry overall, driving international corporate adoption, and consumer interest in web3 technologies.

For more information, visit: Website | Twitter | Discord | Telegram | GitHub | Reddit | YouTube

 

Contact

Sota Watanabe
info@startale.org

Dubai, United Arab Emirates, June 15th, 2023, Chainwire

UAE to serve as strategic global and regional business hub, OKX to expand to 30 staff

OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced that OKX Middle East Fintech FZE (OKX Middle East) has received a Minimal Viable Product (MVP) Preparatory license from the Dubai Virtual Assets Regulatory Authority (VARA).

The UAE is a key strategic growth and business hub for OKX globally and in the region, and the company plans to scale OKX Middle East’s operations. As part of this effort, OKX has opened a new office in Dubai World Trade Center, and will seek to expand its number of Dubai staff to 30 with a focus on local hires and senior management. OKX also plans to extend its nine-figure brand partnerships to the UAE with customer and fan-focused activations and activities.

The MVP preparatory licence allows approved licensees to fulfill all pre-conditions required to undertake MVP operations within the VARA regime. Once licensed to be operational, OKX Middle East will be able to extend its approved suite of duly regulated virtual assets activities and will provide spot, derivatives, and fiat services, including USD and AED deposits, withdrawals and spot-pairs, to institutional and qualified retail customers.

OKX Global Chief Commercial Officer Lennix Lai said: “We’re thrilled to receive the MVP preparatory license from VARA. Regulated entities are the future of digital assets and capital markets and Dubai and VARA have succeeded in creating a unique environment where VASPs can thrive. With the expansion into a new office this year, we are focused on hiring local staff and senior management. The MENA region has incredible potential as a center of excellence for Web3 and virtual assets, we look forward to the opportunity to expand the already growing ecosystem across the region.”

OKX Global Head of Government Relations Tim Byun said: “Dubai and VARA are world leaders in crypto regulation by establishing the most timely, comprehensive and built from-the-ground-up framework for virtual assets and Web3. Licensing in Dubai is a critical element of OKX’s global regulatory compliance strategy. In today’s uncertain market environment, it’s of the utmost importance for VASPs to be highly secure, transparent, compliant and backed by strong, clear regulation. Under VARA’s comprehensive framework, all operators must meet high standards of compliance, risk management, security and consumer protection, benchmarked against well-known existing regulatory principles for traditional financial services. This provides confidence to operators and customers alike, and positions the crypto and Web3 industry in MENA for increased participation and overall growth in the near and long term.”

OKX Chief Marketing Officer Haider Rafique said: “We’ve been waiting to enter the UAE and we want people here to experience our products first hand. We’re different – we do things in a measured and transparent manner. May was our seventh consecutive month of publishing our proof of reserves, making us the only crypto exchange globally with that commitment. We’ve done that while out-innovating the industry in Web3 with our leading decentralized ecosystem. We’ve also launched numerous new security features while adding more depth in markets. This attitude is consistent with the brand partners who represent us, Manchester City Football Club, McLaren Racing, and the Tribeca Festival. We take our time, and do things the right way.”

For more information on OKX, please visit OKX.com.

About OKX

OKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.

OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.

OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

About VARA

Dubai Virtual Assets Regulatory Authority [VARA] is the world’s first specialized regulator for the Virtual Assets sector. Established in March 2022, following the effect of Law No.4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA activities in all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre.

VARA plays a central role in creating Dubai’s advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance, while supporting the vision for a borderless economy.

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.

Contact

Marc Rognon
media@okx.com

New York City, New York, June 15th, 2023, Chainwire

• Panelists included OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris and director, producer and screenwriter Stephen Kay

From left to right: Director, producer, and screenwriter Stephen Kay; McLaren Racing CEO Zak Brown; Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain; OKX CMO Haider Rafique; and McLaren F1 Driver Lando Norris discuss the power of technology in sports, film and crypto

OKX, a leading Web3 technology company, yesterday hosted a panel discussion with McLaren Racing at the Tribeca Festival titled, “Need for Speed: How Technology Powers Change in Sports, Movies, and Crypto,” featuring OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris, and director, producer and screenwriter Stephen Kay.

The panel, moderated by Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain, was held at the Tribeca Screening Room and focused on how technology has transformed various industries, including sports, entertainment, cryptocurrency and finance. During the discussion, the panelists emphasized the impact of innovation on speed, performance and efficiency across the different sectors.

OKX Chief Marketing Officer Haider Rafique said: “We’ve achieved a lot together in just one year. The McLaren F1 team has a huge appetite to lean into Web3 and make its heritage more discoverable for younger generations, and we want to play a big role in making that a reality for them. There are incredible stories here that can motivate the next generation of drivers and fans to get involved with the sport and, in particular, celebrate McLaren’s achievements on and off track. Our goal is to help McLaren transcend into this future and share what we are cooking together on our panel”.

McLaren Racing CEO Zak Brown said: “This panel was a great opportunity to share the stage with our Primary Partner OKX, and discuss how technology can power change in our respective industries. In Formula 1, we constantly look to innovate and leverage technology to maximize our fan engagement opportunities. Partners like OKX can support us in these commitments, exploring how they can guide our Web3 strategy and make our sport ever-more exciting and accessible for the fans.”

OKX CMO Haider Rafique (left) and McLaren F1 Driver Lando Norris (right)

McLaren Racing CEO Zak Brown (in orange, left) and McLaren F1 Driver Lando Norris (in orange, right) with OKX CMO Haider Rafique

Tribeca Festival 2023 is OKX’s second consecutive year as the presenting sponsor. The company’s multi-year partnership with Tribeca Festival aims to unlock new Web3 opportunities for creators, fans and talent. OKX also introduced the first-ever Tribeca Festival NFT pass for 2023 in January.

In May of last year, OKX and McLaren Racing announced a multi-year partnership that would make OKX a Primary Partner of the McLaren Formula 1 Team and McLaren Shadow esports team. Through this partnership, OKX supports the team’s global fan experience, providing exciting opportunities and product innovations that bring fans closer to the action. OKX branding is featured on the McLaren cars, the helmets of McLaren F1 drivers Lando Norris and Oscar Piastri, as well as the McLaren F1 and McLaren Shadow team kits.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace and DEX.

OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.

To learn more about OKX Web3, download our app or visit: okx.com/web3

About McLaren Racing

McLaren Racing was founded by racing driver Bruce McLaren 60 years ago in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.

McLaren Racing competes across five racing series. In 2023, the team will compete in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Felix Rosenqvist and Alexander Rossi, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers René Rast and Jake Hughes, and the Extreme E Championship with NEOM McLaren Extreme E Team drivers Emma Gilmour and Tanner Foust. The team also competes in the F1 Esports Pro Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships.

McLaren is a champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry.

McLaren Racing – Official Website

About the Tribeca Festival

The Tribeca Festival, presented by OKX, brings artists and diverse audiences together to celebrate storytelling in all its forms, including film, TV, immersive, games, audio storytelling, music, and online work. With strong roots in independent film, Tribeca is a platform for creative expression and immersive entertainment. Tribeca champions emerging and established voices; discovers award-winning filmmakers and creators; curates innovative experiences; and introduces new technology and ideas through premieres, exhibitions, talks, and live performances.

The Festival was founded by Robert De Niro, Jane Rosenthal, and Craig Hatkoff in 2001 to spur the economic and cultural revitalization of lower Manhattan following the attacks on the World Trade Center. Tribeca will celebrate its 22nd year from June 7–18, 2023.

In 2019, James Murdoch’s Lupa Systems, a private investment company with locations in New York and Mumbai, bought a majority stake in Tribeca Enterprises, bringing together Rosenthal, De Niro, and Murdoch to grow the enterprise.

Disclaimer

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your risk tolerance and financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.

Contact

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