Web3 payment infrastructure provider Transak has obtained Money Transmitter Licenses (MTLs) in Illinois and Missouri, allowing it to operate independently in these states, crypto.news has confirmed. This development enables Transak to directly facilitate fiat-to-crypto transactions for residents and businesses without reliance on external provider licenses. A Money Transmitter License permits firms in the U.S. to...
Web3 infrastructure provider Elastos has successfully closed a $20-million investment round, marking a significant step in expanding decentralized finance (DeFi) services within the Bitcoin (BTC) ecosystem. The funding, announced on January 30, came from Rollman Management Digital, a global investment network known for backing early blockchain projects like Ripple and Ethereum. With this investment, Elastos...
In a significant move to bolster the Web3 startup landscape in Indonesia, Lisk, a notable layer-2 blockchain platform, has forged a strategic partnership with the Directorate General of Informatics Applications (DGIA) of the Indonesian Ministry of Communications & Informatics Technology. Announced on February 27, this collaboration is set to invigorate the local Web3 ecosystem by...
Darewise Entertainment, creators of Life Beyond, have forged a strategic partnership with DFZ Labs, the minds behind the Deadfellaz universe. This partnership is a significant move in the Web3 community, highlighting a blend of creative talents and community involvement. The two entities are embarking on a journey of collaborative growth and innovation. This partnership, grounded...
NFT Growth and Evolving Trends As 2023 ends, the nonfungible token (NFT) sector continues to be a dynamic component of the Web3 space, with experts forecasting significant developments for 2024. Cointelegraph consulted various Web3 professionals who shared insights into the anticipated trends and challenges for NFTs in the coming year. Key Predictions for 2024 Challenges...
Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, announced new regulations for the tokenization sector during the Hong Kong Fintech Week. He dismissed concerns about the JPEX scandal affecting the growth of the web3 market. The upcoming regulations will focus on token issuance, wallets, and other virtual asset regulations beyond exchanges. The...
Blockchain technology is revolutionizing the sports industry, with revenue from blockchain expected to grow at a 9% CAGR over the next five years. Web3’s influence in sports is democratizing the industry, giving fans a significant stake and voice in their favorite teams’ operations. Non-fungible tokens (NFTs) are also playing a significant role in transforming the...
Crypto enthusiasts frequently highlight the benefits of their technology over traditional financial institutions like brick-and-mortar banks, and it’s a story that has a lot of reality. But funds must be ensured to be secure if Web3 is to be widely adopted and for cryptocurrencies to be used in retail or stored as a store of...
Nonfungible token marketplace Magic Eden has launched its own “fully audited” marketplace for Bitcoin Ordinals, leveraging the surging interest in “Bitcoin NFTs.” The newly launched marketplace allows Bitcoin NFT traders to buy and sell Bitcoin Ordinal collections, giving users a similar experience to the one that Magic Eden offers for Polygon, Ethereum and Solana-based NFTs....
The Hong Kong authorities have allocated $50 million to accelerate the development of the crypto industry. Hong Kong Financial Services and Treasury Bureau (FSTB) Chairman Christopher Hui made the announcement at the Web 3 Investment Summit hosted by Aspen Digital, according to a press release on the Hong Kong government website. According to him, the...
