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  • Our IEO on ExMarkets:  KICK.IO Public Sale Kicks off on September 15

    Our IEO on ExMarkets: KICK.IO Public Sale Kicks off on September 15

    As the $ADA bull market continues to gather steam – with new price records set each month – many within the Cardano community are asking, what’s next? The limitless possibilities within the Cardano ecosystem offer many opportunities for both project creators and their investors. But financial and informational asymmetries have always been a major limiting factor.

    That’s why KICK.IO, a non-custodial crowdfunding protocol, was created to make sure that this immense potential is utilised to its fullest. Our platform will ensure projects have access to the most advanced kickstarting and fundraising capabilities and help both retail and institutional investors to come together and pick the winners of tomorrow.

    To help us achieve this goal, we have chosen to hold our IEO on ExMarkets decentralized exchange. Following the overwhelmingly successful recent public sale of ADAX – our choice should not surprise anyone, since ExMarkets is increasingly becoming a household name within the Cardano community. Following our oversubscribed private sale, we have no doubts that our public sale will be just as, if not more, successful.

    KICK.IO is scheduled to go public on 15 September and is already attracting heavy interest by both retail and institutional investors. To participate in the sale visit Exmarkets Launchpad.

    About KICK.IO

    Founded by a team of DeFi and traditional finance professionals, KICK.IO is a Cardano-based fundraising platform and a project accelerator. KICK.IO provides decentralized crowdfunding services, full Cardano native tokens support, and a suite of advanced DeFi project kickstarting and endorsement capabilities.

    KICK.IO is set to become an integral part of the Cardano ecosystem, a place where Cardano’s extensive community can come together to fund high-growth projects characterised by the immense potential for future success. KICK.IO will ensure that both retail and institutional investors have priority access to the most promising projects that offer promising returns. KICK.IO allows only the most credible and promising projects to make it through — the ones with the highest potential to make a meaningful contribution to the Cardano ecosystem.

    Your Cardano Innovations. Kick-started.

    Explore a suite of advanced Cardano-tailored fundraising tools at KICK.IO

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  • Panama Follows in the Footsteps of El Salvador, Looking to Make Bitcoin Legal Tender

    Panama Follows in the Footsteps of El Salvador, Looking to Make Bitcoin Legal Tender

    Key takeaways:

    • Panamanian congressman Gabriel Silva proposes new crypto regulation that is in many ways similar to El Salvador’s ‘Bitcoin Law’
    • Silva aims to increase transparency in the public sector and decrease the level of corruption by using blockchain technology
    • The trend of countries passing new crypto-focused legislation is gaining steam

    Just a day after El Salvador officially adopted Bitcoin as its national currency alongside the US dollar, Panamanian Congressman Gabriel Silva introduced new legislation that would make crypto-assets legal and provide the legal framework for their regulatory and fiscal applications.

    Panama becomes the latest country looking to reap the benefits of the blockchain sector

    The congressman took to Twitter to make his proposition of the new law, named “Crypto Law: Making Panama Compatible with the digital economy, blockchain, crypto assets, and the internet”, public. Silva listed several benefits of the new crypto law, including new job opportunities and the potential to bring forth a higher level of transparency in the public sector.

    The Central American nation thus becomes the third country in the region to turn to Bitcoin and other digital currencies in an effort to bolster economic growth and attract foreign investment, after El Salvador and Cuba. Panama’s new legislation differs from Salvadoran Bitcoin Law in a few key aspects, most notably in the way that blockchain technology will be used to improve on existing identity and transparency systems and to decrease the level of corruption.

    Ukraine joins the growing list of countries that are betting on the success of crypto

    On the same day as Panama, Ukraine successfully passed its version of cryptocurrency legislation. The Eastern European nation hopes that legitimizing the blockchain sector will create a powerful incentive for foreign crypto businesses to set up shop within the country’s borders. “I am sure that society, business, and the state will benefit from the legalization of the new sector of the economy,” said Oleksandr Bornyakov, deputy minister of Digital Transformation of Ukraine.

    Over the course of last month, El Salvador, Ukraine, Panama, and Cuba all made different levels of commitment to cryptocurrency assets. El Salvador experienced a rocky start to its first week of Bitcoin adoption as the world’s largest crypto dropped from $52,500 to $43,600 since the law came into effect. The situation in El Salvador will surely be closely monitored by countries looking to recognize Bitcoin as a national currency.

  • Digital Real Estate Platform and Personal Identity Information Gatekeeper Windfall Secures Listing on ProBit Global

    Digital Real Estate Platform and Personal Identity Information Gatekeeper Windfall Secures Listing on ProBit Global

    Data privacy and virtual real estate platform Windfall has expanded its demographics through ProBit Global’s diverse trading markets to expand on a value proposition of providing transaction management tools to safeguard personally identifiable information. 

    The Tron-based virtual real estate platform democratizes access to the budding sectors with an overview of all property data, providing 360 views for prospective clients to get an in-depth look before purchase.

    Windfall provides a wealth of development and design advisory services based on management experience providing end-to-end services enabling customers to rent out property hassle-free.  

    The platform provides a suite of transaction management tools to safeguard personally identifiable information to provide users with increased levels of control over their private data while availing services to curtail unauthorized access or sharing of user information. 

    WFT tokens play a central role in facilitating low-cost transactions while preserving the integrity of user data and providing access to the rapidly growing virtual real estate market. 

    ABOUT WINDFALL TOKEN
    Windfall  Token aspires to become one of the leading virtual real estate mediums to provide exposure to the burgeoning virtual real estate industry through virtual real estate portal. Our endeavour is to facilitate end to end, personalised full suite of services provided by leaders in the blockchain industry. Detailed information, 360-degree views, virtual tours, and specific characteristics of each property will also be made available.

    ABOUT PROBIT GLOBAL
    ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 600+ altcoins in 1000+ markets.

    PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
    200,000+ community members
    1,000,000+ monthly active users
    3,000,000 monthly web visitors
    50,000,000 users on partnering aggregators and wallets such as CoinMarketCap
    User interface of Multilingual website supporting 41 different languages
    Marketing and community support in 8 key languages

    Join our active programs and get huge benefits!
    1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee
    2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit
    3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens
    4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

    ProBit Global: www.probit.com
    ProBit Telegram: https://t.me/ProbitEnglish

  • Cross-Chain Swap and NFT Marketplace MintySwap Launches DEX and Adds ProBit Global as Key Partner

    Cross-Chain Swap and NFT Marketplace MintySwap Launches DEX and Adds ProBit Global as Key Partner

    Cross-chain aggregator Mintyswap has listed its deflationary token MINTYS on ProBit Global with a total of 5,632,716 tokens staked by participants during the completed MINTYS staking event. Traders can also compete for an additional share of 70,000 MINTYS which will be distributed to the top 20 traders once the competition closes on September 23. 

    Due to the siloed nature of blockchain networks, cross-chain swaps will play an essential role in simplifying the process for inexperienced traders who often face a high barrier to DeFI participation.

    Mintyswap will provide efficient swaps across ERC20, BSC20, and Polygon-based tokens in 10 seconds with low transaction fees of 0.03% in line with cost-efficient and scalability at the core of Mintyswap’s value proposition.

    The other key element behind the project is an NFT marketplace featuring a unique copyright fee which provides unprecedented monetization opportunities for artists to earn a fee every time their original work changes hands. 

    A recent reveal showed the team’s development of “Minted: The battle against fiat,” the first 5v5 NFT collector game featuring PVP and survival mode battles where participants can earn MINTY rewards and rare NFT in the process. 

    The deflationary MINTY token features a 2% redistribution mechanism with holders sharing 1% and the team burning the remaining 1%. Furthermore, 51% of the 1B supply has been allocated for a decentralization event with gradual distribution expected to continue across the next 3-5 years alongside an ongoing buyback and distribution mechanism.

    MINTYS holders can generate additional token rewards through airdrops, trade mining, and liquidity mining by providing capital to the DEX. Staking tokens will also generate passive income, lower transaction fees, and provide governance privileges towards the protocol. 

    ABOUT MINTYSWAP
    The Fresh New Platform to Mint NFTs and Swap Tokens.

    ABOUT PROBIT GLOBAL
    ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 600+ altcoins in 1000+ markets.

    PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS
    200,000+ community members
    1,000,000+ monthly active users
    3,000,000 monthly web visitors
    50,000,000 users on partnering aggregators and wallets such as CoinMarketCap
    User interface of Multilingual website supporting 41 different languages
    Marketing and community support in 8 key languages

    Join our active programs and get huge benefits!
    1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee
    2. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit
    3. ProBit Exclusive: Subscribe to 50% off Top 200 tokens
    4. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

    ProBit Global: www.probit.com
    ProBit Telegram: https://t.me/ProbitEnglish

  • Top 3 Coins to Watch – Week 37

    Top 3 Coins to Watch – Week 37

    Following the prolonged bullish trend that started in mid-July, which saw the total cryptocurrency market capitalization rapidly climb towards the previous peak valuation of $2.55 trillion reached in May 2021, last Tuesday’s flash crash left a considerable dent and put a halt on the upwards momentum. On the tailwind of the historical news of El Salvador being the first nation to officially adopt Bitcoin as a national currency on September 9, the price of Bitcoin reached a four-month high. It wasn’t for long, however, as the cascade of long position liquidations that occurred on the same day pushed the price of the world’s largest cryptocurrency below the $50,000 mark, and towards the $43,000 support level. Along with Bitcoin, the rest of the cryptocurrency market experienced heavy double-digit losses, which, in most cases, have yet to be recovered. As of now, Bitcoin’s dominance is at approximately 40% and continues to drop. The last time it was this low was in May of this year, and before that way back in June 2018. The market metrics show that altcoins are gaining ground. Solana personifies this trend. With more than a 300% monthly increase and over 100-fold YTD gains, the highly scalable decentralized blockchain has grown to become the 6th largest crypto by market cap. IOTA, which we’ve featured in our previous installment of Coins to Watch, scored a major win last week as the European Union decided to use IOTA’s technology to develop Europe’s blockchain infrastructure. With so much potential brewing in the blockchain sector, we went on the lookout to find the best projects.

    3. Quant (QNT)

    With the rise of DeFi, blockchain interoperability has grown to become one of the more sought out after features in the cryptocurrency space. Quant is among the leading protocols that provide seamless interactions between various blockchains. The platform’s Overledger DLT gateway enables institutions and individuals to connect to different systems and DLT networks without the need for new infrastructure. Since being founded in 2015, Quant has managed to secure partnerships with some of the industry leaders, including SIA, Oracle, and Amazon.

    Overledger 2.0.5 update brings significant protocol improvements, Quant Developer Program incentivizes ecosystem growth

    The latest upgrade to Overledger brings exciting new capabilities to the Quant protocol. Firstly, the 2.0.5 update brings significant improvements to the Overledger Payment API, which now allows users to transact and settle value between various crypto assets in a much simpler manner. Secondly, and perhaps most importantly, the new upgrade bridges institutional networks with stable digital currencies, DeFi, non-fungible tokens (NFTs), and a long list of supported ERC20 and ERC721 tokens. As of the latest upgrade, Quant now offers native DLT payment support, collateralising of supported NFTs with stablecoins, and new settlement options for lending and staking products. On top of the milestone development goal the company managed to achieve with the latest upgrade, Quant’s Developer program is attracting a growing number of developers to the ecosystem, particularly due to the fact that building decentralised apps using the Overledger API guarantees universal interoperability and easy creation of multi-DLT apps (mDApp). Quant provides access to educational material, expert feedback, and exclusive events for developers. The market is definitely taking notice of what Quant is doing lately as the price of QNT doubled in the last week and increased by over 30-fold since the beginning of the year. 

    2. Terra (LUNA)

    Terra is a blockchain e-commerce payment network that uses the functionality of fiat-pegged stablecoins to provide much-needed stability when conducting cross-border payments. Additionally, the network’s native utility and staking token, LUNA powers the blockchain capabilities and acts as the platform’s reserve currency. In addition to the LUNA token, the platform also uses a native, algorithmically controlled, and decentralized TerraUSD (UST) stablecoin. Using the Cosmos technology and Proof-of-Stake (PoS) consensus mechanism, the South Korean-based company Terraform Labs has managed to build a digital payment system that is poised to rival ApplePay, SamsungPay and other established payment solutions. By using blockchain technology with a particular focus on stablecoin functionality, Terra is capable of offering extremely low processing fees, almost instantaneous settlements and seamless international transactions.

    Columbus-5 upgrade is going live on September 30, bringing token burning mechanism and interchain support

    Although the Columbus-5 mainnet deployment was delayed and pushed back for three weeks, it is now all but confirmed that the “gamechanger” update for the Terra platform will go online by the end of September. Columbus-5 will significantly increase scalability and make the platform capable of withstanding much higher traffic due to a new version of Mantle and the ability to process Wasm queries. The upgrade is also expected to make the process of swapping stablecoins simpler while giving LUNA token stakers the benefit of receiving swap fees. Additionally, once the largest mainnet deployment in Terra’s history is complete, the platform will be able to support interchain assets from Cosmos, Polkadot, and Solana blockchains. It is safe to say that the market is eagerly awaiting the upcoming mainnet deplyoment. Since the start of August, the price of LUNA has more than quadrupled as the community looks forward to seeing how the upgrade pans out. José Maria Macedo, a founding partner at the research firm Delphi Digital, shared his insightful observations and near-term expectations for the project in a Twitter thread.

    1. Fantom (FTM)

    Fantom is an open-source decentralized finance (DeFi) platform built for fast and high-throughput smart contract functionality. The network uses aBFT consensus protocol to ensure high performance and seamless platform scalability as well as secure and near-instantaneous transactions paired with extremely low fees. EVM compatibility makes Fantom compatible with Ethereum, which means that dApps designed for ETH can be deployed and run directly on the Fantom platform. Fantom offers an all-encompassing suite of DeFi products and services, ranging from liquid staking and automated market maker (AMM) exchange functionality, to cryptocurrency lending, borrowing and staking options that are used to their fullest potential when using the network’s native FTM token.

    Fantom Foundation announces a massive 370 million FTM incentive program, FTM price surges by almost 300%

    Fantom experienced a massive market boost with the announcement of a 370 million FTM (worth over $550 million USD at current market rates) incentive program designed to onboard new blockchain protocols and increase the amount of liquidity in the Fantom ecosystem. The program is open to every developer team who decides to deploy on the platform. The reward for interested protocol teams are based on their total value locked (TVL) and ranges from 1 million up to 5 million FTM. The team hopes that the incentive program will be beneficial to users, builders and for the long-term success of the ecosystem. The market has responded in kind as the price of the digital token exploded from $0.63 on the day of the announcement on August 30, to an ATH of $1.92 on September 9, before retracing to $1.49 at press time. The recent success of Fantom is perhaps most evident when looking at the total value locked figures. The total amount of locked assets nearly doubled since the incentive program started and now sits at $1.34 billion, with SpookySwap exchange and Curve protocol topping the TVL rankings. Additionally, Fantom’s long-awaited integration with Orion, which was initially announced in April, is finally coming later in the month, which will further increase platform functionality by enabling users access to endless cross-chain liquidity directly from their Fantom wallet. On top of that, cryptocurrency exchange Profit Global announced Fantom integration last week, and commended the network’s ability to process a higher number of transactions than Ethereum with an almost 2.5x cheaper average transaction fee. For reference, on September 11, Fantom processed 1.727 million daily transactions compared to ETH’s 1.249 million.

  • Esports Leader & BSC Utility Token Nobility Announces Rostik Rusev for Advisory Board

    Esports Leader & BSC Utility Token Nobility Announces Rostik Rusev for Advisory Board

    Press Release: esports company & BSC Utility token Nobility has announced the appointment of  Rostik Rusev on its board of advisors as the company gears up for launch. 

    September 10th, 2021, Florida, USA — Nobility (NBL) is a revolutionary new BSC utility token focused on disrupting the esports industry with its unique smart contract capabilities. The project has just announced DeFi enthusiast, crypto entrepreneur, and blockchain business leader, Rostik Rusev as an advisor on its board.

    Crypto Magician in the Shadows

    Nobility is proud to announce the appointment of the ‘Crypto Magician in the shadows’ to its advisory board. Rostik Rusev is highly revered in the crypto space and will bring to the project a vast wealth of experience from not only the De-Fi space, but also from his previous work in the PR, Entertainment, and Music industries. 

    Previously known as “The Bad Boy of crypto” Rusev made his name as an early pioneer in blockchain PR and will look to use his industry experience and connections with crypto exchanges to help Nobility increase its utility and disrupt the esports industry with this innovative new approach to DeFi. Led by CEO and Noble esports founder Kyle McDougal, Rusev will help Nobility break into the multi-billion dollar gaming industry and offer the market a scalable global solution. 

    What is Nobility Token?

    Nobility is a Revolutionary esports platform & utility token on Binance Smart chain. The token’s utility is focused on organizing and providing gaming tournaments with huge prize pools whilst rewarding token holders, and content creators with reflection rewards paid out in BUSD. 

    Nobility will be a scalable global solution that addresses some of the limitations of the esports gaming industry through its blockchain smart contract; creating a fair, balanced, sustainable revenue system in the process. 

    Nobility CEO Kyle McDougal voiced his excitement about the appointment: 

    “We are delighted to announce the addition of Rostik Rusev to our growing team. As an advisor to the Nobility project, Rusev’s vast experience and in-depth understanding of both the blockchain industry and marketing nuances of crypto will prove invaluable. 

    His dedication, passion for change, work ethic, and ability to think outside the norm are key attributes that we see as pivotal in our quest to break new ground in esports, and offer the industry a fairer, more balanced, and sustainable revenue system.”

    NBL Tokenomics

    The Nobility utility token (NBL) uses a unique blockchain smart contract that employs an 11% fee on all swaps and transfers on the network. What makes Nobility unique is that it pays out rewards from this fee (known as reflections) in BUSD rather than the token itself, which offers much more secure rewards as the coin’s price is pegged and not susceptible to large price swings. 

    For each transaction, a certain number of users are sent their reflections, depending on the size of the transaction and the gas that is used to send the transaction. Another huge benefit of this structure is that Larger transfers can process more BUSD payouts, as the required amount of gas is proportionally less than the value of the tokens. 

    The 11% token fee is broken down and allocated in the following structure: 

    • 7% from each transaction is redistributed by weight to qualifying holders in BUSD. 
    • 2% added to the liquidity pool. 
    • 2% is allocated for Nobility Use wallet: Esports tournament prize pools, marketing, business development, charity donations, scholarship funding, manual burns, community events, giveaways.

    Nobilities NBL token is currently available to buy on PancakeSwap & Bogged with BSC using MetaMask or TrustWallet 

    Nobility has a host of new developments to be announced soon, as the team looks towards a full launch, more advisors, increased token utility, exchange listings, and organizing huge prize gaming tournaments. 

    Media Contact Details
    Contact Name: Rostik Rusev
    Contact Email: Rostik@nobilitytoken.com

    Nobility Token Socials

    Website | Twitter | Telegram | Discord | Litepaper

    Nobility Token is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest

  • SEC Ruling on VanEck’s Bitcoin ETF is Further Delayed

    SEC Ruling on VanEck’s Bitcoin ETF is Further Delayed

    It seems that we will have to wait a bit longer for the first Bitcoin ETF in the United States. The US Securities and Exchange Commission (SEC) has again delayed VanEck’s Bitcoin application for a Bitcoin exchange-traded fund (ETF). The ruling is now scheduled for November 14.

    Key takeaways:

    • Via a notice issued on September 8, SEC has again delayed the ruling for the potential first Bitcoin ETF in the US by another 60 days, moving the decision date from September 15 to the middle of November. The agency says it needs more time before making a verdict.
    • The latest delay marks the third time that the regulator has designated a longer period to determine whether the listing of VanEck Bitcoin Trust should be approved. The first delay came in April, followed by the second one in June.
    • VanEck filed the application for a Bitcoin ETF in December of last year. Altogether, there are 13 companies that are in the same position as VanEck, which are eagerly awaiting the SEC’s decision.
    • SEC has repeatedly denied Bitcoin and cryptocurrency ETFs, citing concerns over the potential for price manipulation as the main reason.
    • The approval of Bitcoin ETF in the US is highly anticipated. The lack of the popular financial instrument severely limits investing options for corporate investors. There is some speculation that BTC ETF could be a strong rival to Gold ETF, for investors that are looking for alternative store of value options.
    • The approval of Bitcoin ETF in the US could see similar success as in Canada in February 2021. Over the course of one month, the Purpose Bitcoin ETF, the first-ever ETF in Canada, managed to reach $1 billion mark in assets under management (AUM). At the time Purpose Investments CEO Som Seif said: “Hitting this milestone so quickly proves that investors are seeking convenient, safe access to cryptocurrencies.” 
    • Given the recent developments pertaining to cryptocurrency regulations in the US (infrastructure bill introducing controversial crypto rules, SEC treating to sue Coinbase), it seems somewhat unlikely that any of the current Bitcoin ETF applications will be approved during the tenure of the current administration. It would be great to be proved wrong though.
  • Mastercard Deepens its Ties to Crypto with the Acquisition of CipherTrace

    Mastercard Deepens its Ties to Crypto with the Acquisition of CipherTrace

    Key takeaways:

    • Mastercard’s acquisition of CypherTrace shows the payment’s company commitment to crypto
    • CipherTrace analyzes blockchain data to find evidence of fraud, money laundering, and other suspicious activites
    • Numerous tech companies and financial institutions have recently announced crypto products and services

    Mastercard, an international financial services company, is looking to improve its repertoire of products and services in order to expand its presence in the cryptocurrency ecosystem. The company hopes that the acquisition of CipherTrace, a cryptocurrency intelligence company that aims to bring together crypto and traditional financial services, will help in its mission to bring greater transparency and security to the industry.

    Mastercard is betting on the success of crypto

    Mastercard, one of the largest payment companies in the world is evidently hedging its bets and embracing crypto as one of the cornerstones of the company’s long-term vision. The increasing popularity of digital currencies and non-fungible tokens (NFTs) is changing the way many people and companies invest their funds and move value in the increasingly digital world.

    Mastercard believes that guaranteeing trust and security are vital components that will help the industry to flourish and the community to grow. Earlier this year, Mastercard announced that it will start supporting digital assets directly on its network. In recent months, the company has partnered with prominent crypto businesses, such as Gemini, Uphold and BitPay, which points to the fact that Mastercard is very serious about its future in the crypto sector.

    Ajay Bhalla, president of cyber and intelligence division at Mastercard acknowledges the staying power and potential of crypto assets:

    “Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient. With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe. Our aim is to build upon the complementary capabilities of Mastercard and CipherTrace to do just this.”

    Cybersecurity startup CipherTrace offers fraud protection and anti-money laundering solutions

    CipherTrace is a crypto analytics firm that specializes in tracing transactions made on the public ledger in order to find potentially criminal activities, particularly evidence of money laundering and fraud. The cybersecurity startup’s expertise will help ensure that the customers, merchants, and businesses feel safe when making crypto payments and transactions on Mastercard’s payment network

    Dave Jevans, CEO of CipherTrace:

    “We help companies – whether they are banks or cryptocurrency exchanges, government regulators or law enforcement to keep the crypto economy safe.” 

    Mastercard joins the growing list of multinational behemoths that have recently made the jump to crypto in some way or another. For instance, we’ve talked about investment giants JPMorgan and Wells Fargo’s new crypto exposure investment services. In August, Square’s Cash app stated that it considers Bitcoin to be of the main drivers behind the payment platform’s growth. Facebook and Twitter have also made their plans clear as both tech giants recently announced deep integration of digital currencies with their existing products. 

    The exact details of the agreement between Mastercard and CipherTrace have not been disclosed.

  • Gluwa Platform Launches Social-Impact Venture Debt Fund on Ethereum

    Gluwa Platform Launches Social-Impact Venture Debt Fund on Ethereum

    San Francisco, USA, 9th September, 2021,

    San Francisco-based financial platform Gluwa  has launched the first cryptocurrency native venture debt fund on the Ethereum Network. The fund is aimed at promoting financial inclusion and offers retail investors an industry-leading fixed APY of 12%.

    Gluwa Invest is a key component of Gluwa’s borderless financial vision, designed to connect investors anywhere in the world to high-yield, high-growth opportunities in capital-constrained emerging markets. Staked funds are pooled and used to provide liquidity to various partners, and by extension, credit opportunities & credit lines for the unbanked and underbanked. Credit lines such as these can represent a rare opportunity to kick-start a small business, or pay for a medical emergency.

    Gluwa already has investment partnerships with various credit-providing companies. Notably Aella, who provide credit lines to millions of users across Africa, as well as Jenfi, who provide revenue-based debt financing to digital native businesses across Asia. 

    The new venture debt fund is a fixed-term (3 months), interest-bearing account handled on a Luniverse Ethereum sidechain. Retail investors from several countries can participate in the account by exchanging BTC to sUSDC-G (A Gluwa stablecoin) via Gluwa’s in-app non-custodial exchange. Debuting with a starting investment cap set at $500,000 sUSDC-G, deposits will be made on a first-come, first-served basis.

    In recent weeks, over 1,000 users have completed KYC/Identity Verification ahead of the official Bond Account launch, the first of Gluwa Invest’s full suite of investment products. Other accounts due to go live in late 2021/early 2022 include the Savings Account, paying 5% APY with no-fixed term, and a Prize-Linked Savings Account where participants can stake funds for entries into a collective lottery pool. The latter enables investors to randomly earn a share of collective interest (4% APY) from the entire liquidity pool.

    “The launch of Gluwa Invest is a significant milestone, and a major step towards realising our final vision: connecting people all over the world with the opportunities, capital and investment they need,” said Gluwa Invest Product Manager Brendan O’Toole.

    “Our users benefit twofold,” explains Gluwa CEO Tae Oh. “Firstly, by making responsible investments that provide credit opportunities to millions of people; and secondly, by providing our investors with industry-leading returns.”

    Unlike other DeFi lending protocols, which rely on over-collateralized lending, Gluwa Invest represents the first working example of Gluwa’s wider push towards achieving a decentralized credit ecosystem for non-collateralized lending based on the Creditcoin blockchain. As the developers of Creditcoin, all Gluwa’s credit investments will be transparently recorded on its open credit recording blockchain, allowing investors to transparently track their funds in future.

    About Gluwa

    Gluwa is a borderless financial platform built to give everyone access to quality currency without facing the barrier of border restrictions. Gluwa’s product suite includes a non-custodial cryptocurrency wallet, a non-custodial cryptocurrency exchange, and high-yield interest-bearing accounts. With a passion for blockchain and information transparency, the platform is committed to building a future of financial inclusion, in which every person can be their own bank.

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