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  • Bitcoin Influencer Dan Held Is Joining Trust Machines

    Bitcoin Influencer Dan Held Is Joining Trust Machines

    Key takeaways:

    • Trust Machine is a startup on a mission to create the largest ecosystem of Bitcoin apps, develop innovation, and significantly expand the Bitcoin economy
    • Trust Machine has appointed Dan Held as Growth Marketing Advisor. Held previously worked as director of Growth Marketing at Kraken, Director of products for Blockchain.com, among other roles in different companies
    • Trust Machines have made several other strategic appointments, starting from Q2, 2022, after raising $150 million in February

    Trust Machines, the startup on a mission to create the largest ecosystem of Bitcoin Apps, has announced today that Dan Held will join them as an adviser. The company, which is exclusively dedicated to growing the Bitcoin economy, announced that Held will assist with the growth of Trust Machines, its applications built on the Bitcoin blockchain.

    A Top Achiever Joins a Top Team

    By getting Dan Held on board, Trust Machines has added an experienced talent and an astute professional to its team. Widely recognized for his works as Director of Growth Marketing at Kraken, Held has made a name for himself in the crypto universe. He co-founded Zeroblock, a company that was acquired by Blockchain.com in the second-ever all-Bitcoin acquisition. He has also worked for Blockchain.com as the Director of Product.

    In addition to doing great jobs for different crypto companies and cofounding one successful company, Dan Held has become a real authority in the Bitcoin community. He is now a prominent educator, having garnered over 75,000 followers across social media platforms.

    Speaking about Dan Held’s appointment, CEO of Trust Machines, Muneeb Ali, said:

    “Dan has an amazing ability to simplify amazing concepts and reach large audiences. We’re seeing a revival of Bitcoin builders culture and Dan’s work with us on growth marketing can help accelerate the adoption of Bitcoin layers and unlock productive capital through Bitcoin apps.”

    Dan Held’s New Role

    In his new role as an adviser, Dan Held will concentrate on building and scaling the marketing department of Trust Machines. He is also tasked with developing strategies for Trust Machines products, as well as providing advisory support to the CEO.

    Held’s new role is a perfect fit for his skill set and wide experience in product and marketing at Kraken, Blockchain.com, and Uber.

    Commenting on his new role as Trust Machines’ Growth Marketing Advisor, Dan Held said:

    “I’m thrilled to announce my role at Trust Machines as an advisor. I believe Trust Machines and its team is uniquely positioned to bring DeFi applications to the Bitcoin protocol, inevitably unlocking trillions in value.”

    Building a Strong Team

    2022 has been a busy first year for Trust Machines. Over the 2nd Quarter of the year, the company has made several key additions, including:

    • Aubrey Strobel: Communications Advisor who served as Head of Communications at Lolli
    • Asiff Hirji: Advisor. President of Figure and former President and Chief Operating Officier (COO) of Coinbase
    • Manas Mohapatra: General Counsel. Formerly with BNY Mellon and Twitter
    • Rena Shah: Head of Strategy. Formerly Head of Exchange at Binance U.S.

    Trust Machines was created in February 2022. The company announced that it raised about $150 million in February from a number of investors, including Breyer Capital, Digital Currency Group, GoldenTree, Hivemind, and Union Square Ventures. The company was created with the goal of expanding Bitcoin as a DeFi platform and developing innovation on Bitcoin. With its current team, the company is obviously poised for great things. 

  • As Ukraine Fights Russia, Citizens Have the Opportunity to Vent Their Anger Through Cats at Arms

    As Ukraine Fights Russia, Citizens Have the Opportunity to Vent Their Anger Through Cats at Arms

    Cats at Arms NFT collection to support Ukraine

    Ukraine, July 19, 2022 — Developed by a volunteer team of Ukrainian developers, Cats at Arms takes place in the Armed Forces of Ukraine Territorial Defense. It includes cats who fight Russian orc hordes and neutralize their war bosses.

    Russian aggression on Ukraine is the inspiration for the game, which has escalated into a full-scale war. With the increasing numbers of civilian casualties, this game gives Ukraine citizens a way to express their anger and feel relaxed. Additionally, users can connect their mining equipment or Bitcoin and Ethereum wallets with the game.

    The company said the game aims to help fellow citizens throw off stream by shooting orcs and raising funds for charity. As Cyberpolice had previously worked with other developers and sold charitable NFT, and assisted the Cat Drive team in collecting cryptocurrency.

    This game will sell NFT collection to support the National Guard, National Police, State Emergency Service and State Border Guard. In addition, the game will help purchase medicine, provide medical assistance to combat victims and purchase other basic necessities.

    The NFT collection will be sold on the Boca Chica platform.

    Cats at Arms already offers virtual combat at well-known locations: Chernobaevka, Gostomel, and the cruiser Moscow. In addition, the player is required to defeat the orcs’ leaders, including the don, mustachioed cockroach, and Mordor’s minister of unnecessary affairs. Players can purchase cat upgrades when they complete combat missions, such as pumping a gun or adding new cats to their team.

    The game had recently announced that it would release an update that will add the main criminal, which the game lacks currently. The company also said that it is planning to release an iOS update soon. With the company’s growth, the Cats at Arms team plans to release more updates as the game grows in popularity.

    About Cats at Arms

    The game Cats at Arms was developed by a group of Ukrainian volunteers. In the game, cats fight hordes of Russian orcs and neutralize their war bosses as they protect the Territorial Defense of the Armed Forces of Ukraine.

    Contact

    Website: https://koto-drive.online/

    Telegram: https://t.me/CyberpolUA

    Facebook: https://www.facebook.com/cyberpoliceua

    Twitter: https://twitter.com/cyberpoliceua?lang=ua

    Media Contact:

    Company name – Boca Chica

    Country – Ukraine

    Email – official@bocachica.io

  • Tezos is Live on Tether, Available on Bitfinex

    Tezos is Live on Tether, Available on Bitfinex

    Road Town, BVI, 21st July, 2022, Chainwire

    Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to, has announced that it is officially live on Tezos, a energy-efficient, self-amending blockchain and now readily available to trade on the popular exchange, Bitfinex. The launch of USD₮ on Tezos demonstrates growing momentum for the largest stablecoin by market cap.

    “We’re excited to be live on Tezos, and to offer its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space,” said Paolo Ardoino, CTO at Tether.  

    The integration of USD₮ on Tezos is an important milestone for the original smart contract Proof of Stake blockchain network. Tezos has seen a significant increase in usage year-over-year and was listed among the largest developer ecosystems, according to the annual Electric Capital Developer Report. Tezos, well known for its ability to seamlessly and forklessly upgrade, is expected to incorporate in its future upgrades features like enshrined optimistic rollups – these allow for dedicated higher throughput Layer 2 solutions for EVM and WASM virtual machines with all computation made verifiable, enshrined on the Tezos blockchain.  

    These features make Tezos a platform of choice for many brands and institutions seeking to enter the world of decentralized finance and Web3. The announcement is also a testament to the rapidly-growing and vibrant Tezos ecosystem, includes top five NFT marketplace Objkt.com, leading generative art platform fx(hash), DeFi applications like yield farming protocol Youves and decentralized exchange and EVM bridge Plenty, and major brands such as Manchester United, McLaren Racing, Team Vitality, The Gap, and more.  

    The launch of USD₮ on Tezos further highlights Tether’s dedication to pioneering collaboration and interoperability within the growing digital asset space. Tether is still standing at the forefront of the biggest leap forward that the financial industry has ever seen.

    Learn more about Tether at tether.to

    Learn more about Tezos at Tezos.com

    ###

    About Tether

    Tether is the preeminent stablecoin and a pioneer for financial freedom and innovation. Created in October 2014, Tether has grown to become the most traded cryptocurrency, surpassing that of all rival offerings combined. Tether is disrupting the legacy financial system by offering a more modern approach to money By introducing fiat currency-digital cash to bitcoin, Ethereum, EOS, Liquid Network, Omni, Tron, Algorand, and Solana blockchains, as well as smart contract platform, Avalanche, Tether makes a significant contribution to a more connected ecosystem. Tether combines digital currency benefits, such as instant global transactions, with traditional currency benefits, such as price stability. With a commitment to transparency and compliance, Tether is a fast and low-cost way to transact with money.

    About Tezos

    Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable and energy-efficient Proof of Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow’s innovations without network disruptions today. For more information, please visit www.tezos.com.
     

    Contacts
    • Dan Horowitz
    • Info@marketacross.com
  • Fast Transactions with Cryptocurrencies

    Fast Transactions with Cryptocurrencies

    For decades, businesses and consumers have accepted that cross-border payments can take up to a week to process and complete. With the banking infrastructure that we have, this has been the norm, but that has all changed with the rise of cryptocurrencies. Today there are cryptos capable of carrying out transactions in just seconds.

    Not only does blockchain technology facilitate much shorter timeframes for transferring money and data, it does so at significantly lower cost to the user. This has had a considerable democratising effect on finance, providing opportunities to those who may have lacked the types of financial services that blockchain can provide.

    Not all cryptos are fast

    Unsurprisingly, not all cryptos are created equally in terms of transaction speeds. There are many internal and external factors that affect the rate of transactions per second, and the high profile cryptos are often the least efficient.

    Bitcoin is still probably the most recognisable name in crypto, yet transaction times are estimated at up to forty minutes. There are many reasons for this, including the efficiency of the underlying blockchain, and the amount of network traffic. Blockchain is an open financial database, and the data that it contains is decentralised as it is duplicated and stored across the computers of the users.

    Decentralisation is the key attribute of blockchain, making it completely transparent and entirely secure. There is no central administrator and no one point which can be targeted by hackers. The downside of decentralisation is scalability, as the more users there are for a particular crypto and blockchain, the slower the processing.

    The popularity of the Ethereum blockchain has led to a lag in settlements, and it also comes with relatively high charges. One of the coins hosted on Ethereum is Shiba Inu (SHIB), a meme-inspired crypto that gained popularity in part thanks to Elon Musk. Such is the influence and reach of Musk, the value of Shiba Inu reacts when he posts about his pet dog, who is of the same breed that the coin was named for. This is all despite the fact that Musk has publicly said that he holds no SHIB himself.

    Rather confusingly, Musk endorses another meme coin featuring a Shiba Inu dog – Dogecoin (DOGE). However, neither SHIB nor DOGE can offer users anything close to the transaction speeds that are possible from other cryptos. Even so, both coins have faster transaction times than most conventional banking methods.

    Crypto transactions at fast payout casinos

    Online casinos are often early adopters of tech that can benefit themselves or their customers, and crypto payments have been possible at a number of casino sites for years now. While players are keen to seek out reputable casinos with fast payouts, there are more advantages to using crypto than first meets the eye.

    It is not just a matter of lucky players getting their winnings quickly, there are also implications for responsible gambling. Casino sites that do not provide speedy payouts can contribute to problematic gambling behaviour. During the waiting period, users are far more likely to use the cash to continue gambling rather than withdraw it. Casinos with fast withdrawals, and especially those that employ crypto payments, help to discourage this aspect of problem gambling.

    What are the fastest cryptos?

    Back in 2019, researchers at MIT attempted to solve the scalability problem when they launched Vault. The blockchain design drastically reduces bandwidth requirements via a novel approach that allows users to verify only a few points in the blockchain and ‘vault’ over the rest. Unfortunately, despite reducing the bandwidth to join the network by a staggering 99% compared to Bitcoin, the crypto has proven to be one of the most volatile and has not done well in recent months.

    So, which of the current crypto coins are the fastest and most useful overall? Bearing in mind that there are estimated to be over 10,000 active cryptos in circulation today, this could be a complicated question. However, around 90% of the crypto market is contained within the top 20 coins.

    Focusing only on those included in the top 20, we can identify some of the very fastest. First up is XRP, which reportedly averages at between three and five seconds for a cross-border transaction. It can manage 1500 transactions per second (TPS), which is one hundred times faster than Ethereum and three hundred times that of Bitcoin. 

    Two others in the top 20 are Cardano and Solana, both of which are working on scalability and improving their TPS even further. Cardano can currently manage 257 TPS and transactions are completed within about 40 seconds, but the goal is to increase TPS to a million. Solana already has a TPS of 2,825, and processes transactions within 0.4 seconds. Not within the top 20, but certainly one to watch, is Nano. This claims to be the fastest crypto coin in existence, and its unique structure means that there are no transaction fees at all.

  • OpenSea Unveils Solana Launchpad, Enabling Creators to Mint and Sell NFTs Directly on the Platform

    OpenSea Unveils Solana Launchpad, Enabling Creators to Mint and Sell NFTs Directly on the Platform

    OpenSea and Solana image cover

    Key takeaways:

    • OpenSea’s Solana Launchpad will guide creators all the way from the NFT pre-minting to post-minting process and secondary sales
    • The creators will have full custody of their digital collectibles at all times
    • The launch of Solana Launchpad comes roughly three months after the NFT marketplace integrated Solana

    Solana Launchpad allows creators to retain custody of their NFTs during the sale

    OpenSea, the world’s leading non-fungible token (NFT) marketplace, has revealed Solana Launchpad, a service that allows creators to mint digital collectibles and retain their custody during the selling phase. 

    “With this new launchpad experience, creators can now host a new mint from beginning to end on OpenSea,” reads an excerpt from a blog post published on Monday. According to the blog post, OpenSea will help creators during the pre-mint phase all the way to secondary sales.

    OpenSea has kicked off the launch of the new feature with two Solana-based digital collections – aliens-themed Zoonies and anime-inspired Monkai.

    The new feature underscores OpenSea’s commitment to providing access to NFTs across a large selection of blockchains. 

    In April, after months of rumors and speculations, OpenSea unveiled integration with Solana. Over the past couple of months, Solana emerged as one of the most popular chains for NFTs due to its low cost and fast transactions.

    In June, Solana NFTs on OpenSea recorded a 78% increase. In the same time period, NFT trading volumes on Ethereum and Polygon saw a 70% reduction.

    Earlier this month, OpenSea announced significant workforce cuts due to falling NFT trading volume and potentially long-lasting crypto winter. At the time, OpenSea CEO Devin Finzer said the decision to reduce the team’s size by roughly 20% was a necessary one to make to prepare the business for “the possibility of a prolonged bear market.”

  • Cake DeFi Levels Up With Razer Silver

    Cake DeFi Levels Up With Razer Silver

    Singapore, Singapore, 21st July, 2022, Chainwire

    Cake DeFi, Asia’s fastest growing cryptofinance platform dedicated to providing access to decentralized financial services, has today announced a market-leading partnership with Razer Silver, a loyalty rewards program for gamers, backed by Razer Inc, the world’s leading lifestyle brand for gamers. The exclusive partnership will deliver class-leading value to both gaming and crypto enthusiasts by enabling Razer Silver customers to exchange their Razer Silver for Cake DeFi vouchers via the Razer Silver Rewards catalogue.

    The multi-faceted partnership will see Cake DeFi listed and promoted on the Razer Silver website. By clicking on the link, Razer Silver gamers will be allowed to exchange their loyalty points (Razer Silver) for Cake DeFi vouchers, giving them access to popular cryptocurrencies such as Bitcoin, Ethereum and DeFiChain via Cake DeFi’s cryptofinance platform. In addition to providing access to the platform that empowers users to generate cash flow from their crypto assets, Cake DeFi is committed to supporting financial literacy and crypto education

    “We are thrilled to partner with an influential gaming company such as Razer, bridging the gap between gaming and crypto to deliver incredible value to users all over the world. Through this collaboration, we have lowered the barrier to entry to the crypto ecosystem to provide Razer Silver gamers access to crypto assets on Cake DeFi in a seamless manner and provide them with class-leading rewards,” said Julian Hosp, CEO and Co-Founder of Cake DeFi. “There is a strong correlation between gamers and crypto enthusiasts, so in addition to providing high returns on Cake DeFi for Razer Silver gamers, we will also focus on providing crypto education and literacy, especially for newcomers to the industry,” he added.

    To celebrate the launch of the collaboration, Cake DeFi is offering Razer gamers exclusive access to its yield generating services. Existing Razer gamers that have not registered to Cake DeFi can apply a special promotion code “RAZER”, giving them an exclusive welcome bonus when they make their first investment. The welcome bonus will be in the form of DFI (DeFiChain’s native digital currency) as well as additional Razer Silver, which will be credited back to the users’ Razer Silver accounts. 

    In addition, Razer Silver gamers who convert their points into Cake DeFi vouchers from now until 20 August 2022, will receive an additional 10% discount. This means that they only need to exchange 9,000 (usually 10,000) Razer Silver for a $5 Cake DeFi voucher. These vouchers will be available to all Razer Silver gamers while stocks last. 

    All vouchers redeemed on Cake DeFi will be instantly auto-converted at the market value rate, into cryptocurrency – DFI. The DFI will be allocated into Cake DeFi’s staking product, earning users staking rewards every 12 hours. Users may also choose to withdraw the DFI as there is no lock up period.

    For media enquiries, please contact us at media@cakedefi.com. 

    ABOUT CAKE DEFI

    Cake DeFi is a fully transparent, highly innovative and regulated fintech platform dedicated to providing access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is fully compliant with all regulatory requirements of the Monetary Authority of Singapore (MAS).

    By enabling and empowering its users to harness the potential of decentralized finance (DeFi), Cake DeFi aims to educate and inform people around the world on crypto and DeFi in a simple, easy to understand and hassle-free manner. As of end Q1 2022, Cake DeFi has paid out a record US$317 million in rewards to its customers to-date.

    ABOUT RAZER

    Razer™ is the world’s leading lifestyle brand for gamers.The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services.

    Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops. Razer’s software platform, with over 175 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma RGB (a proprietary RGB lighting technology system supporting thousands of devices and hundreds of games/apps), and Razer Cortex (a game optimizer and launcher).

    Razer also offers payment services for gamers, youth, millennials and Gen Z. Razer Gold is one of the world’s largest game payment services, and Razer Fintech provides fintech services in emerging markets. 

    Founded in 2005, Razer is dual headquartered in Irvine (California) and Singapore, with regional headquarters in Hamburg and Shanghai. Razer has 19 offices worldwide and is recognized as the leading brand for gamers in the US, Europe and China.

    Contacts
    • Leticia Chua
    • media@cakedefi.com
  • iFX EXPO Asia 2022 to be Held in Bangkok for the First Time

    iFX EXPO Asia 2022 to be Held in Bangkok for the First Time

    Following a successful event in Limassol, Cyprus, iFX EXPO is back with its next edition, iFX EXPO Asia 2022! The largest B2B expo for the financial sector is scheduled for 13-15 September. 

    While iFX EXPO Asia has previously been held in cities including Macau and Hong Kong, due to popular demand, this years’ show will take place in Bangkok for the very first time. The chosen location is the Centara Grand & Bangkok Convention Centre at CentralWorld – an impressive venue conveniently located in the heart of the capitals’ business district. 

    Launched in 2012, iFX EXPO has a long and illustrious history of bringing together thought leaders and industry influencers from across the world. Not only does the event provide a perfect platform to network with industry leaders and to present your brand on a global scale, it is also known for its impressive parties.

    What to Expect in Bangkok

    Expertly organised by Ultimate Fintech for more than a decade, iFX EXPO Asia 2022 promises 2 days of valuable insights, brand building and business collaborations. This is where finance firms will have the opportunity to meet decision-makers and gain visibility into the future of the sector through talks by industry visionaries.

    With a track record of 20+ expos that have seen thousands of attendees, exhibitors and sponsors, the iFX EXPO Asia 2022 event is expected to be attended by Technology and Services Providers, Retail and Institutional Brokers, Payments, Banks and Liquidity Providers, Affiliates and IBs, Digital Assets and Blockchain firms, and Regulation and Compliance authorities.

    The event commences with a Welcome Party, giving everyone the chance to meet before the exhibition gets started. Both expo days will offer a vast exhibition space for brands to showcase their innovative solutions, key insights and predictions for the finance sector with insightful talks at the Speaker Hall and Idea Hub by top industry speakers, and plenty of meeting spots. The organisers also have a Night Party planned, which will be an exciting and informal way to network with other attendees. 

    The agenda for the sessions at the Speaker Hall and Idea Hub is still being finalised. If there is a particular topic you would like to hear on stage or if you would like to get involved with a speaking opportunity, the organisers are welcoming suggestions and applications now. Shape the discussion of iFX EXPO Asia by completing this form. 

    Participate in iFX EXPO Asia 2022

    The event has already attracted a very high level of interest and the exhibition booths and sponsorship slots are selling out fast. A booth at the event is an excellent way to showcase your company’s brand value, USPs and innovative offerings. Exhibitors at past iFX EXPO shows have included many leading finance and fintech brands with industry giants and fast-growing start-ups. 

    Sponsorships give brands the chance to make a memorable impression on attendees. There are multiple packages to choose from. Each ensures visibility for the sponsor brand, both online and at the venue itself, from being featured on the expo’s social media and website to branding at key spots at the exhibition. 

    With booths and sponsorship slots filling up fast, brands that wish to maximise their exposure at the event should email the Ultimate Fintech sales team as soon as possible. If you are interested in attending, you can register via the event website now. 

    Will you be attending iFX EXPO Asia? 

  • Newly-Launched Carbon Removal DAO to Support Nature-Based Initiatives to Help Fight Climate Change

    Newly-Launched Carbon Removal DAO to Support Nature-Based Initiatives to Help Fight Climate Change

    Forrest image cover

    Key takeaways:

    • Dr. Lucy Tweed, a climate researcher at Cambridge University, has founded the Carbon Removal DAO
    • The Carbon Removal DAO will allow users to vote on which green projects should receive funding and earn USDT for their engagement
    • The new green technology-focused DAO has been launched on the crypto crowdfunding platform EarthFund 

    Climate scientist Dr. Lucy Tweed partners with EarthFund for a green technology-focused DAO

    EarthFund, a crypto crowdfunding platform for projects working on making positive change in the world, has announced the launch of the Carbon Removal cause, which will focus on investing in carbon removal projects that don’t negatively affect local communities and ecosystems.

    In recent years, we have seen numerous companies pursue green projects in order to generate positive PR. All too often, these initiatives turn out to be ill-planned and leave lasting consequences on local communities and ecosystems. Major tree-planting efforts are at the forefront of this issue.

    To organize a better approach to fighting the negative effects of climate change, Dr. Lucy Tweed, who earned her Ph.D. for her work on carbon removal from Columbia University, launched the Carbon Removal DAO. The newly-launched green technology-focused decentralized autonomous organization (DAO) will allow a global community to come together and vote on the most promising carbon-removal projects.

    EarthFund CEO Adam Boalt commented on the launch of the Carbon Removal DAO in a statement:

    “We’re all incredibly excited for Dr Tweed to be launching her cause on our platform. Not only is she going to be conducting research into carbon storage at Cambridge University, but through her cause on the EarthFund platform, she’s also going to be growing a global community that gets rewarded for being the driving force behind finding and funding carbon removal projects around the world.”

    The Carbon Removal DAO will invest in various methods that can help reduce the amount of carbon in the atmosphere, ranging from protecting carbon-rich ecosystems to promoting regenerative agriculture.

    Speaking about the new DAO, Dr. Lucy Tweed said that while “Recycling, flying less, voting for progressive candidates, eating less meat… are all great,” scalable carbon reduction models are paramount for “broader systemic change.”

    The DAO’s native governance token CarbonCommons will launch on July 27. At launch, the tokens won’t be available on cryptocurrency exchanges, but they will be directly exchangeable for EarthFund’s 1Earth tokens. 

    The CarbonCommons token will allow users to earn USDT rewards for their engagement with the DAO and provide an outlet to bounce ideas off Dr. Lucy Tweed and other climate activists and scientists in an exclusive Discord group.

  • Asia-focused multi-currency stablecoin protocol, Bluejay Finance, raises $2.9M in funding

    Asia-focused multi-currency stablecoin protocol, Bluejay Finance, raises $2.9M in funding

    Singapore, Singapore, 20th July, 2022, Chainwire

    Bluejay Finance, a capital-eff icient decentralized stablecoin protocol for issuing stablecoins pegged to real-world currencies, has raised $2.9M in funding from Zee Prime Capital, C2 Ventures, Stake Capital Group, RNR Capital, Daedalus Angels, Moonlanding Ventures, Oval Ventures, and more, with operator-angels including DeFi projects like Ribbon Finance, Flux, Voltz, and Alpha Venture Dao. 

    Founded in 2021, Bluejay Finance aims to build an avenue for investors to have more stablecoin solutions centered around currencies other than USD in the DeFi space. It plans to use its funds for team development and stablecoin deployment, focusing on Asian stablecoins, such as the Singapore Dollar and the Philippine Peso, and will distribute them through partners like DeFi protocols, decentralized exchanges, centralized exchanges, and fintech companies. In doing so, this will allow investors to have a more inclusive, locally-familiar medium of exchange that limits foreign exchange risk and exchange fees. 

    Highlighting financial inclusion in Asia

    With 60 percent of Southeast Asians being underbanked or unbanked, and 70 percent of Southeast Asian workforce lacking in bank accounts, there’s a clear need to prioritize financial inclusion. Often, there’s been a lack of formal credit history hindering access to capital for MSMEs, and a general lack of urgency and awareness around possessing a personal savings account. 

    Fortunately, there have been recent opportunities for Asia, thanks to the region’s strong mobile penetration driving a variety of financial services and payment gateways for both individuals and businesses. 

    Improving financial inclusion with Asia-focused stablecoins 

    Stablecoins can play a meaningful role in the future of financial services in Asia. However, most stablecoin solutions are centered around USD and are not suitable for real world usage where transactions are denominated in local currencies; this means that users do not have a choice of having exposure to currencies other than USD in the DeFi space, which exposes users to extra costs, forcing them to use unfamiliar currency. 

    By having stablecoins of different currencies around the world on the blockchain, Bluejay Finance lowers the barrier for businesses and individuals in these countries to transact and minimizes currency exchange risk, making payments and access to capital easier and more efficient. 

    “DeFi summer was the first wave of innovation, driven by yield farming. Despite the current state of the markets right now, we are incredibly bullish that the next cycle will be driven by sustainable, real use cases that solve a true need. Therefore, Bluejay remains focused on building products and partnerships that will enable these sustainable use cases of stablecoins and bring in the next billion users into DeFi,” says Sherry Jiang, founder of Bluejay Finance. 

    Julien Bouteloup, founder of Stake Capital Group, comments, “Over the course of the past few years, stablecoins have proven to be a fundamental primitive within DeFi. However, most stablecoins have revolved around the US dollar. For crypto to branch into use cases like real world payments and money markets, it needs to have stablecoins that people in local economies can seamlessly transact with, such as the Euro and Singapore Dollar. Bluejay is positioned to address this need, which will only continue to grow as DeFi matures.” 

    Recently, Bluejay Finance announced its partnership with Silta Finance, a protocol focused on sustainable real world assets, and plans to announce more partnerships in the coming weeks on both its Twitter and Discord communities. 

    About Bluejay Finance

    Bluejay Finance is building an Asia-focused capital-efficient protocol for multi-currency stablecoins. The aim is to mirror the foreign exchange market in the fiat world onto the blockchain, in order to accelerate financial inclusion and access to DeFi for all users and businesses. Pre-seed investors include Entrepreneur First and Global Founders Capital. 

    Contacts
    • Geoff Richards
    • geoff@bluejay.finance