Tag: Platform

IMF Presents Blueprint for Cross-Border Payments with CBDC Platform

“Our blueprint for a new class of platforms would enhance and ensure greater interoperability, efficiency, and safety in cross-border payments, as well as in domestic financial markets,” Adrian said in a speech given in Rabat, Morocco. “The cost, sluggishness, and opacity of cross-border payments comes from limited infrastructure.” Source

Wyre, a crypto payments platform, shuts down, selling assets

Wyre, a platform facilitating payments with digital currencies, is closing shop due to the ongoing decline in the market. The portal has since its winding-down procedure, stating that potential purchasers interested in acquiring the company’s assets are now invited to express their interest. Wyre shuts down After nearly ten years, the San Francisco-based provider of cryptocurrency payment solutions said their decision to wind down follows challenges posed by the bearish market conditions rather than any stringent “regulatory agency directives” in the United States. In a statement on June 16, the…

Crypto payments platform Wyre shutters citing bear market conditions

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San-Francisco-based crypto payments firm Wyre is shutting down after almost 10 years in business, citing the financial challenges of the bear market, and not anything to do with any hawkish “regulatory agency direction” in the United States. In a June 16 blog post, the firm stated that it made the difficult decision to wind down to “protect the best interest of our key stakeholders and customers.” “Wyre continues to secure customer assets. If you have assets on the Wyre platform, you can continue to withdraw them via Wyre’s dashboard until…

Decentralized Social Media Platform Lens Protocol Embraces Open Governance

Currently, there are three live proposals, according to the announcement. The first proposal establishes the open governance model, while the second and third proposals are centered around open standards. The second proposal “will encourage third-party algorithms and machine learning (ML) services to be integrated into Lens Protocol,” while the third proposal defines “how metadata is classified, organized and labeled within Lens,” as stated in the announcement. Source

DeFi options platform uses social logins, margin trading to draw in liquidity

A DeFi options platform launched that uses social logins and undercollateralized trading to draw in liquidity providers, according to a June 15 announcement . The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platforms, the team claimed. Synquote user interface. Source: Synquote According to the announcement, Synquote did over $25 million of notional volume in its beta period, which began on March 17. The largest trade during this period was for $1 million in notional volume, which was executed without any detectable…

South Korean Bitcoin lending platform Delio pauses withdrawals

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Delio, a virtual asset manager and lending platform based in South Korea, has announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.” The company made the decision in response to the recent suspension of digital asset deposits and withdrawals at Haru Invest, which has led to heightened market volatility and increased confusion among investors within the region. According to Delio, the suspension will remain in effect until “the situation and its aftermath are resolved.” A translation of the announcement read: “In…