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Monster Galaxy Play 2 Earn (GGM) is the Next Bybit Launchpad Project
Key highlights:
- Monster Galaxy Play 2 Earn is a blockchain-powered mobile game that allows players to earn crypto rewards and collect NFTs
- The Monster Galaxy Team aims to raise $250,000 in the public sale of 10 million GGM tokens
- Bybit will begin recording users BIT balances on January 13 at 00:00 UTC
- Kasta, the last project to be featured on Bybit Launchpad is currently trading more than 2,200% above its IEO price
Bybit, one of the leading digital assets trading platforms, has announced its ninth Launchpad project, less than a week after the Kasta IEO ended. Bybit users will be able to participate in the initial exchange offering (IEO) of Monster Galaxy (GGM) with their BitDAO (BIT) funds. The Monster Galaxy team aims to raise $250,000 in the public sale of 10 million GGM tokens, at an initial IEO price of $0.025.

Monster Galaxy is the ninth token sale on Bybit’s launchpad; the last project, Kasta, is currently trading at 22x its IEO price

Monster Galaxy is a Play-to-Earn (P2E) mobile video game inspired by fan-favorite classics such as Pokemon and Moster Hunter. The digital world of Monster Galaxy is home to user-controlled monsters called Mogas that can be traded among players in the form of non-fungible tokens (NFTs). In addition to digital collectibles, players can earn the game’s native GGM token and use it to buy in-game items and participate in exclusive events. The game is slated for a beta release in February, with a full launch planned for March.

The Monster Galaxy team has allocated 1% of the total GGM supply of 1 billion tokens for the IEO and is aiming to raise $250,000 million through public sale. Bybit has set a hard cap per user to 14,000 GGM ($350) to avoid potential price manipulation from wealthy investors.

Monster Galaxy on Bybit Launchpad – How to Invest in GGM IEO?

Bybit will start recording user BIT balances on January 13 at 00:00 UTC. During the 4-day snapshot period, Bybit will be taking hourly snapshots of user BIT balances to determine the maximum amount of funds a user can commit during the subscription period that commences on January 18 at 03:30 UTC. Users who will have a recorded daily average amount of at least 50 BIT in their account will be eligible to participate in the public sale.

Bybit is rapidly increasing the pace at which new Launhcapd projects are getting featured on the site. In the four months since its token launch site debuted, Bybit has already featured nine projects, with the first one being the exchange’s own BIT token.

Kasta (KASTA) was the last token sale on Bybit, with the final distribution period ending on January 5. KASTA debuted on Bybit to a warm welcome – the token is currently changing hands more than 2,300% above its initial IEO price.

Here are the returns of the last five projects launched on Bybit’s launchpad platform:

Launchpad Project ROI (expressed in USD)
Kasta 23.1x
izumi Finance 1.9x
Realy 7.8x
Symbiosis Finance 5.4x
Dtravel 3.5x
*Data collected on January 12, 2022 at 18:00 UTC.

Go To Bybit Launchpad
January 12, 2022
Cash App Starts Rolling Out Lightning Network to its Users
One of the leading digital payment service providers, Cash App, has just integrated the Lightning Network, a Bitcoin Layer 2 solution allowing for drastically cheaper and faster transfers. The update comes three years after Jack Dorsey, a CEO of Block, the company that owns and develops Cash App, guaranteed that the Lightning implementation is not a question of if but when.

Key takeaways:
- While the team at Cash App has not yet made any official announcements, the news of the Lightning Network integration started circulating on social media, with multiple users sharing screenshots that confirm the integration.
- Cash App’s 36 million monthly active users can look forward to far cheaper and near-instantaneous BTC transactions once support for the Lightning Network rolls out to all customers.
- The Lightning Network is capable of processing millions of transactions per second. Since transaction settlements occur off-chain, the transaction fee is infinitely smaller than on energy-intensive Bitcoin Layer 1, making BTC micro-transactions a practical reality.
- Jack Dorsey, who recently stepped down as the CEO of Twitter, is well known for his strong support of crypto, particularly Bitcoin.
- In December, the rebranding of the American financial services firm Square to Block led many to speculate that the name change implies a pivot towards blockchain technology.
- According to data from Bitcoin Treasuries, Block is currently in possession of 8,027 BTC (worth over $350 million at current market rates), the sixth-largest stash of BTC owned by any public company.
- Cash App initially added support for buying and selling Bitcoin in January 2018. The decision proved to be a lucrative one for Cash App – in the third quarter of 2021 alone, Bitcoin drove a whopping $1.81 billion in gross revenue, good for a net profit of $42 million.
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January 12, 2022
As Web3 Unfolds, We Should Protect the Best of Web2

2022 is shaping up to be an exciting year for NFTs, the metaverse, and the ongoing evolution of Web 3.0. The headlines have been coming thick and fast, but one of the biggest stories of the last week emerged from tech behemoth Samsung, which announced it was integrating NFT functionality into its new range of smart TVs. The announcement, which came ahead of the 2022 Consumer Electronics Show, stated that the new Samsung Smart Hub would feature an app allowing users to discover, purchase, and trade digital artwork through their TVs.

Only a few days later, the firm also launched Samsung 837X, a virtual store in the metaverse, based on its real-world location in New York City. It’s described as an “experiential playground for people to discover the amazing possibilities when technology and culture collide.” In a move that’s sure to delight the crypto community, Samsung 837X is debuting in Decentraland, one of the most significant brand partnerships with the decentralized metaverse projects to date.

Samsung isn’t the only big name to become associated with NFTs in recent weeks. Associated Press announced on January 10 that it was launching an NFT marketplace allowing its journalists to list their work for sale as NFTs. The first collection is set to drop at the end of the month and will feature photos that highlight the work of specific AP photographers.

The Australian Open, which starts on January 17, is also embracing the trend, offering 6,776 “art balls” also issued in partnership with Decentraland. Each art ball NFT represents a segment of the court, and each time a winning shot lands in that segment during a match at the tournament, the NFT will update in real-time.

Beware Past Mistakes

For a segment where mainstream acceptance and adoption have long been the goals, all this is excellent news for the crypto space. But at this pivotal moment, as Web 2 begins to give way to Web3, there’s a risk that we’re repeating past mistakes. Web2 evolved due to domination by tech giants, but it spawned an entirely new generation of online creators and influencers who have a significant amount of value to bring to Web3. However, currently, with the news dominated by celebrities and big brands, it seems like the long tail of online creators could be at risk of missing out.

However, there are plenty in the crypto space who remain relentlessly focused on ensuring democratic access to NFTs and all the benefits of being a part of the Web3 revolution. Starly is one example, an NFT launchpad and marketplace based on the Flow blockchain.

It’s designed to make it easy for any creator of any size to launch their own economy using a standardized, gamified NFT collection. Each collection is issued in a set of 21 cards – 11 commons, six rare, and four legendary, and organized randomly into sealed packs. Users engage through an immersive pack-opening experience, and creators can drive new engagement by offering additional rewards and incentives for completing a collection or reaching milestones along the way.

An Opportunity to Accelerate Adoption

Starly has been developed by the same team behind Ask.fm, a social platform based around questions and answers. Within weeks of launching in September 2021, the platform had generated over $500,000 in sales from nine NFT collections, indicating that there is indeed demand from creators for an easier onboarding to NFT creation.

Within a matter of weeks, it will be possible to start displaying our own unique collections of digital art on TVs in our own homes. The idea would have been unimaginable a few short years ago. But in creating these possibilities, we need to ensure that we aren’t erecting barriers and stifling one of the best things to emerge from Web2 – the massive global community of online creators. By providing them with channels to use NFTs to engage and inspire, there’s an opportunity to accelerate Web3 adoption into niche audiences around the globe.

January 12, 2022
How to Pass KYC on Bybit?
Bybit is one of the leading digital asset trading platforms with a rich suite of crypto investment products and services. It offers up to 100x leverage on BTC/USD perpetual contracts, industry-leading transaction times, and a comprehensive system of safety measures, along with an intuitive and customizable user interface.

A comprehensive suite of financial instruments paired with high liquidity across all trading pairs makes Bybit an excellent choice for newcomers and crypto veterans alike, and one of the better alternatives to Binance. Bybit prides itself on transparency and regulatory compliance, which is why it adheres to strict KYC and AML regulations, which, in turn, permits it to offer its services to users from all over the world.

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What is Know Your Customer (KYC)?

Know your customer, or KYC, is verification of a customer’s identity by a financial institution. As the crypto industry continues to mature, the KYC requirement has become a staple among leading digital asset trading platforms. Compliance with the KYC guidelines benefits both the customer and the financial institution itself – it ensures a greater level of transparency between the two parties and significantly reduces the potential for illegal financial activity, such as money laundering.

KYC is part of a broader group of anti-money laundering (AML) regulations primarily designed to curtail financial crime. In order to pass the KYC process, a customer typically needs to provide a copy of a government-issued self-identification document (e.g., ID, passport, driver’s license) and proof of address (e.g., utility bill, bank statement).

Benefits of completing KYC on Bybit

Completing KYC on Bybit grants several perks that you would miss out on if you are an unverified user. For starters, the withdrawal limit is increased from 2 BTC to up to 100 BTC when fully verified. Secondly, not only is your account more secure, the whole Bybit community benefits from greater transparency, which minimizes the risk of malicious acts ranging from hacking attacks to money laundering.

Finally, as a verified Bybit user, you are privy to exclusive features, including token airdrop events and the ability to invest in Launchpool projects.

How to do KYC on Bybit?

Bybit offers two tiers of identity verification – Level 1 (Basic verification) unlocks the majority of platform’s features, while Level 2 (Residency verification) introduces some additional perks but requires more user data.

The following step-by-step guide will help you through the process of completing personal verification on Bybit.

To start the verification process, you first need to register an account with Bybit.

Sign Up on Bybit

How to complete Basic verification?

Step 1 – Log in to your Bybit account and navigate to the “Account & Security” section located in the “Orders & Trades” drop-down menu in the upper right corner on the homepage.

Step 2 – Scroll down to the identity verification option and click on “Verify Now”.

Step 3 – For the Level 1 verification, you’ll need to provide basic personal information that must match your government-issued document and complete the face recognition process.

Click on “Verify Now” and enter your name, date of birth, country of residence, and address in the following form.

Step 4 – Once your personal information is filled out, you will need to provide a front and backside copy of the following acceptable document types: ID, passport, driver’s license, or residence permit. Make sure the uploaded image is readable, and click “NEXT” to proceed to facial recognition.

Step 5 – You’ll need to position your face in the circle-shaped frame and click the “I’M READY” button to start. The system will then scan your face. If it’s successfully matched with the image on the document you provided in the previous step, you will have successfully completed the Level 1 identification process. If you lack a webcam on your PC, you can continue the process on your phone.

Step 6 – If everything checks out, your verification application will be approved in about 5 minutes. If not, you’ll be asked to provide additional information or repeat the process.

How to complete Residency verification?

After completing the Level 1 verification, you can proceed to Level 2, which grants a higher Bitcoin withdrawal limit of 100 BTC.

Step 1 – For this step, you’ll need to provide the following personal information:
- Nationality
- Proof of address (the complete list of acceptable documents can be found in the ‘We accept’ column in the image below)
Once you have successfully uploaded a high-resolution copy of your proof of address document, click “NEXT”.

Step 2 – The Bybit team will check and verify the data you provided. In our case, the verification process was completed in just under 10 minutes.

For more information about the verification process, you can head to Bybit’s Help Center or watch the video tutorial below.

In addition to the process described in this article, Bybit offers a KYC method specifically tailored for businesses. For more information about the Business Verification procedure, click here.

Sign Up on Bybit

Final thoughts

Bybit provides a simple, fast, and intuitive approach to user verification. While you don’t have to complete KYC to use most features, verified users gain access to exclusive features, such as Bybit Launchpad and token airdrops.

Additionally, completing KYC lifts the limitations on crypto withdrawals from 2 BTC to up to 100 BTC and contributes to an overall safer and more transparent crypto trading environment.
January 12, 2022
Disney’s New Patent Suggests Theme Park Metaverse is in the Pipeline
Disney, a multinational entertainment and media conglomerate, has reportedly secured a patent at the tail end of 2021 that will likely be instrumental in bringing interactive virtual reality to its theme part guests and suggests that a metaverse push is imminent.

Key takeaways:
- Disney was approved for a “virtual-world simulator in a real-world venue” patent on December 28, four months after the filing was initially submitted to the US Patent and Trademark Office.
- According to the patent filing, Disney is working on an augmented reality (AR) product that will combine virtual reality elements with “a map of a geometry of a real-world venue.”
- Contrary to most metaverse solutions that exist entirely in a virtual world, Disney is seemingly trying to bring the benefits of virtual reality to the physical world by tracking users’ movements to project a digital layer over real-world objects.
- The concept of AR was ushered into the mainstream by tech giant Microsoft in 2015, with the announcement of a $3,500 HoloLens AR headset.
- Disney’s first foray into the blockchain industry dates all the way back to 2014 when it created a hybrid chain called Dragonchain, which was later open-sourced and made available to the public.
- In November 2020, the head of Digital and Technology for Disney Parks Tilak Mandadi first hinted at the possible convergence of real and digital worlds in the near future. “Connected park experiences that transcend the physical and digital barrier and unlock new layers of storytelling are a very exciting focus of ours,” commented Mandadi.
- Last November, Disney CEO Bob Chapek talked about the metaverse plans during the Q4 earnings call: “We’ll be able to connect the physical and digital worlds even more closely, allowing for storytelling, without boundaries in our own Disney Metaverse.”
- Although it seems Disney has been developing the metaverse theme park for quite some time, the new product is apparently not yet ready for prime time. On Friday, when speaking to the LA Times, Disney officials said “they have no immediate plans to use the technology.”
- The metaverse sector has been one of the more active fields of development in recent months. Click here, to follow the latest price updates on cryptocurrency projects focused on the metaverse.
January 11, 2022
Discern Factors Behind Bitcoin’s Crash – What Strategies Should You Adopt
Crypto investors are bleeding hard. Bitcoin and cryptocurrencies continue to drop in tandem with the stock markets. From its all-time high of almost $70,000, bitcoin has devalued about 40% to $40,000. Meanwhile, the Ethereum price slipped 4% today and dogecoin’s price is down 6%.

Data from CryptoQuant shows that the percentage of the Bitcoin supply that’s currently in profit saw a plunge and declined to the same level in July 2021. This indicates that a large proportion of investors are in a losing position, which could lead to further sell-off as investors choose to stop loss. Moreover, $2.1 billion leverage-long crypto futures contracts were liquidated during the sell-off.

What Happened Then?

While bitcoin and cryptocurrency as a whole have been performing poorly lately, the latest price crash is mainly caused by two factors.

The first one would be the revived concern over a rate hike. Just last month, the last FOMC meeting detailed that 2022 will witness three rate hikes. However, given the surging inflation rate, it is reported that the Fed is considering the fourth rate hike in 2022. According to Goldman Sachs, the chance of a fourth or even five rate hike in 2022 is now 53%.

Analysts observed that Bitcoin is performing similar to tech stocks, instead of a safe-haven asset. Tech stocks usually get the hardest hit in rate hikes, as the money supply is low and the cost of borrowing money increases. According to Randy Frederick, managing director of trading and derivatives at Charles Schwab, the panic sell could continue well “till at least the next Fed meeting, which is around January 26.”

Another guess for the latest sell-off is Kazakhstan cutting off its internet supply to curb demonstrations. As the second-largest bitcoin mining hub accounting for almost 20% of bitcoin output power. It is estimated that the power cut led to a 12% drop in hash rate. While the drop of hash rate did not have a direct impact on the change of price, it could lead to concern over the security of the network and disruptions in the market and mining activities.

What Happens Now?

Crypto market analysts Laurent Kssis and Brent Donnelly had warned recently that bitcoin might be prone to a steeper sell-off, though there were some signs late last week that the market might be stabilizing. January tends to be a seasonally weak month for bitcoin, but this year has been especially harsh, with the largest cryptocurrency down 11% so far in 2022.

Data from Glassnode confirmed that the current long liquidation dominance echoes that in May 2021, when the price of bitcoin plunded to $30,000. In his tweet, Alex Krüger, founder of Aike Capital, warns that an inflation spike could lead to bitcoin falling towards $30,000.

In the near-term, the money policy of the Fed and economic data continue to determine the fate of bitcoin. With the global market in an extreme fear sentiment and the bears having the upper hands now, the bitcoin market will be highly volatile and lack the momentum to recover to $45,000. New lows could still be made in the near term.

How to Prepare for Market Swings?

It seems that the next weeks would be challenging and wild for bitcoin. In times of uncertainty, a good way to survive is to diversify our strategies and portfolios. It is important to figure out your risk tolerance and only invest money you can afford to lose. Here are two options worthy of considering.

Option 1: A Wallet Designed for Traders and HODLers

An interest wallet is a safe haven to store your bitcoin. With up to 21% annualized interest, you can grow your wealth without taking the risks of trading. You can withdraw your deposit anytime you want or transfer the bitcoin into the trading account instantly.

Option 2: Managing Trading with Lower Risk

Futures trading enables traders to earn profits regardless of which direction bitcoin goes. By predicting the right trends of Bitcoin’s price, traders can earn greater returns within a shorter period of time. What’s more, there is 100 times leverage used to maximize traders’ profits.

Assume we used 1 BTC to open a short contract when bitcoin was trading at $50,000. Please note that with 100x leverage, 1 BTC can open a contract worth 100 BTC.

When the price of bitcoin dropped to $48,000. The profit will be ($50,000 – $48,000) * 100 BTC/$48,000 *100% = 4.16 BTC. Bexplus offers 100x leverage in BTC, ETH, DOGE, ADA, and XRP futures contracts. No KYC is needed and it is available to traders from the U.S. If you are a beginner, the demo account is really useful for you to improve your skills trading in a real environment without worrying about losing money.

Advantages of Bexplus
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- Affiliate program with up to 50% commission reward
- 24/7 customer support
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January 11, 2022
League of Kingdoms (LOKA), a Blockchain MMO Strategy Game, is the Latest Project Featured on Binance Launchpad
Key highlights:
- League of Kingdoms is a free to play MMO strategy game that combines play-to-earn mechanics and tokenized NFTs to give players full ownership over their in-game items
- The League of Kingdoms team intends to raise $4 million in the sale of 25 million LOKA tokens in the upcoming Binance IEO
- Binance will begin taking snapshots of user BNB balances on January 12
- BNB has surged over 7% following the announcement of the new Launchpad project
Binance, the world’s most popular digital trading platform, has announced a new Launchpad project. Binance users will be able to participate in the League of Kingdoms (LOKA) initial exchange offering (IEO) with their Binance Coin (BNB) funds. 25 million LOKA tokens are allocated for the IEO at a sale price of 0.16 USD per token.

League of Kingdoms (LOKA) continues the trend of gaming and NFT projects being featured on Binance’s Launchpad and Launchpool platforms

League of Kingdoms is a free-to-play MMO real-time strategy game that combines the elements of empire building with play-to-earn (P2E) mechanics. The game’s native governance and utility token LOKA will be used as in-game currency and as a method for the community to vote on the direction of the project’s development.

Players will be able to earn LOKA by completing missions and by participating in player versus player (PvE) battles, while also having a chance to earn rare digital collectibles in the form of rare NFT skins and other inventory items. On top of that, in-game resources can be farmed and tokenized into NFTs in order to facilitate the trading of digital assets among players.

League of Kingdoms on Binance Launchpad – How to Invest in LOKA IEO?

Binance has recently been featuring a rising number of GameFi and non-fungible token (NFT) projects in its Launchpool and Launchpad platforms – Voxies (VOXEL), Highstreet (HIGH), and Merit Circle (MC) are examples of the growing trend. Broadly speaking, the blockchain gaming and metaverse sectors have been arguably the best performing crypto sectors of the last couple of months, at least in terms of returns.

The League of Kingdoms team has allocated 5% of the total LOKA supply of 500 million tokens for the IEO, and is aiming to raise $4 million via the public sale. Binance has set a hard cap per user amount to 93,750 LOKA ($15,000) to give every user a fair chance at obtaining the new token.

Binance will commence the preparation period on January 12 at 00:00 AM UTC. During the 8-day period, Binance will take hourly snapshots of user BNB balances to determine the maximum amount of BNB a user can commit during the subscription period that commences on January 20 at 06:00 AM UTC. The LOKA token distribution will commence on the same day at 10:00 AM UTC, once the hour-long calculation period ends.

Launchpad projects have historically performed incredibly well and have, over time, proven to be one of the most lucrative opportunities for Binance users. Here are the returns of the last five projects featured on Launchpad and Launhpool platforms:

Launchpad Project ROI (expressed in USD)
Voxies 11.5x
FC Porto 3.4x
Lazio Fan Token 4.3x
Beta Finance 7.4x
Coin98 30.7x
*Data collected on January 11, 2021 at 15:00 UTC.

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January 11, 2022
Litecoin Price Prediction – Key Market Indicators Forecast More Bearish Activity
Key takeaways:
- Interest rate hike announced by the Fed and disruption of Kazakhstan’s BTC mining operations could be to blame for the recent market pullback
- Litecoin has lost its long-held support level this week and is likely to face more bearish momentum in the coming days
- Market signals suggest a new LTC support level is forming in the $107-$110 range
The cryptocurrency market has seen significant bearish activity over the last week. Bitcoin, Ethereum, Litecoin, and other major digital assets have retraced to price levels not seen since last September.

The combined value of all digital currencies in circulation has plunged from November’s peak of $3 trillion to below $2 trillion on Monday. Litecoin lost its long-held spot among the top 20 largest coins by market capitalization and now ranks 24th with a market valuation of $8.93 billion at press time.

Key reasons behind the market pullback

A series of macroeconomic factors could be to blame for the recent market pullback. For starters, the Federal Reserve has recently announced its plan to raise interest rates and start selling its $8.7 trillion treasury consisting of bonds and other assets “sooner or at a faster pace” than previously anticipated. Expansionary assets, including stocks and digital currencies, responded to the news very negatively – in the case of crypto, the market underwent roughly 10% correction in a matter of hours.

Civil unrest in Kazakhstan, which led to a power outage that caused Bitcoin miners in the country to halt their operations, is another possible reason behind the negative sentiment permeating the markets as of late. After Beijing officials banned crypto mining in the country in 2021, a large portion of mining operations found a new home in the central Asian country. According to recent reports, Kazakhstan is the second-largest BTC mining hub in the world, accounting for roughly 18% share of the global BTC hash rate, trailing only the US that accounts for 35% of the global hash rate.

Technical Analysis: LTC/USDT daily chart

Litecoin is currently changing hands roughly 55% below its last November’s highs – and the crypto is likely to experience a further decline this week.

The daily LTC/USDT price chart. Image source: TradingView

The daily LTC/USDT price chart shows some worrisome signs. The $130 support that held since July 2021 was broken earlier this week. Additionally, the daily candle’s closing price lies below the support level, which indicates a further price decline is on the horizon. The latest market data suggests that a new LTC/USDT support lies within the $107-$110 range.

Latest Litecoin price predictions, estimated LTC growth and forecast

The moving average convergence divergence (MACD) indicator also forecasts a bearish activity, with the death cross forming on the side of the bears. Generally speaking, MACD is a good market metric that helps traders understand whether the bullish or bearish movement in the price of an asset is strengthening or weakening.

The signal line of the relative strength index (RSI) is on the oversold side of the support line and suggests that bears will retain the upper hand in the near future. For reference, RSI is used to evaluate whether an asset is trading in overbought or oversold conditions.

Technical Analysis: LTC/USDT 4-hour chart

Moving on to the 4-hour chart we can observe similar patterns emerging as in the daily chart.

The 4-hour LTC/USDT price chart. Image source: TradingView

The MACD indicator has formed a golden cross, while the last chance for the price of Litecoin to remain above the support line was rejected during the last bullish divergence between the price chart and the RSI line. Following the rejection, we can observe a hidden bearish divergence emerging in the correlation between the RSI indicator and the price chart.

Technical analysis of LTC/USDT suggests the market pullback is not yet behind us and that a trend reversal will in all likelihood not come in the coming days. In fact, in the next few days, we could see the price of Litecoin experience an even greater drop than last week.

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January 11, 2022
Scallop obtains MSB license for operations in Canada
London, England, 11th January, 2022, Chainwire

London, England, 11th January 2022 – Scallop has acquired money services business, or MSB, license from Financial Transactions and Reports Analysis Centre (FINTRAC). The Canadian MSB license issued by FINTRAC, allows SCALLOP FINTECH INC, (Scallop Group Limited’s Canadian corporation subsidiary) to conduct money transfers and be a dealer for foreign exchange, as well as for virtual currencies.
- Foreign Exchange dealing allows Scallop to conduct transactions to exchange one type of currency for another (for example, exchanging USD for CAD).
- Money Transferring permits Scallop to transfer funds from one person or entity to another using an electronic funds transfer network or any other method such as Hawala, Hundi, Fei ch’ien, and Chitti.
- Virtual Currency Dealing permits Scallop to hold and trade virtual currencies including fiat and cryptocurrencies.
This license will facilitate the Company’s robust DeFi banking ecosystem, which includes IBAN Accounts, Multi-Currency Wallets, Transfers and Remittance, as well as an NFT Marketplace and a native blockchain, Scallop Chain, into the North American region, offering users and institutional partners regulated crypto and banking services.

Raj Bagadi, Founder and CEO, Scallop said:

“ We are extremely proud of this moment. The MSB license adds to our license in the European Union already. Receipt of this license and successful registration highlights our commitment to cooperatively working with regulators in the jurisdictions that we operate in across the globe. Canada is a key country in the digital asset world and so we are delighted with this expansion path.”

About Scallop

Scallop is an innovative fintech ecosystem for users who want a faster and more efficient way to manage their crypto + fiat in a single place securely. Our mission is to bring digital assets further into mainstream usage and bridge the gap between decentralized and traditional finance.

Official Scallop Links

Website | Twitter | Telegram | Medium | LinkedIn | ScallopLight | Facebook | Instagram

Media Contact:

Karampal Singh

Email: karampal.s@scallopx.com

Company: Scallop Group Limited

Contacts
- Karampal Singh
- karampal.s@scallopx.com
January 11, 2022