Stakemoon coin is an Ethereum-based token that aims to become the cryptocurrency of choice for online gaming. Within this space, there are many problems that need to be addressed.

Gaming platforms charge high transaction fees and offer a limited selection of games. Users have to deposit funds before playing games, which is inconvenient for some players who might only have small amounts of money.

It's also not easy to get rid of tokens once you've lost them in a game - unlike fiat currencies, where you can simply walk into a bank and exchange your money for another currency. These issues will change after the launch of the service on the Qtum blockchain.

Through the Stakemoon platform, users will be able to launch their own games and create an online store through which they can buy virtual goods and sell digital services at market prices.

To put it another way, this will allow gamers to pay real-world prices for virtual goods or services without having to use weird cryptocurrencies with high transaction fees or restricted payment methods.

Let's look at how [Stakemoon](/news/tag/stakemoon-tag) plans to solve these issues and more within this review.

## How the Stakemoon Coin Works

A significant challenge in online gaming is the lack of liquidity. There's no easy way to exchange your tokens for fiat currency and no way to sell your goods or services without using a third party.

Stakemoon plans on solving this issue by offering a wallet that can be used as a marketplace. This will allow gamers to buy, sell, and trade their virtual goods without having to use shady cryptocurrencies or third parties.

The [Stakemoon platform](https://stakecoins.com/) also includes a gamer who offers "game sponsorship plugins," which allow gamers to incorporate their own game into the Stakemoon platform. This means that Stakemoon can provide an easier way for games on other platforms, such as Steam or Xbox Live, to offer stakes through the Stakemoon platform and gain more players.

## The Future of Gaming with STM

Gamers will be able to launch their own games and earn from the transactions made within them. Players can also get a share of the revenue generated from the games launched on the platform, which is something that's not possible with other gaming platforms.

They partnered with QTUM, an up-and-coming blockchain technology company, to make these benefits possible.

Stakemoon Coin is the token of an innovative blockchain gaming platform that uses smart contracts and blockchain power to create new and innovative games that are better and more fun than ever before.

For more breaking crypto news, go to [Latest Moni](/news).


What is Stakemoon Coin?

For those unfamiliar with the NFT industry, the abundance of NFT aggregator options can be overwhelming. 

Icytools's goal is to streamline processes by giving essential data to those who need it immediately and a premium service to those who need to dig a little deeper. So, how do Icytools compare to the other options out there? Let's find out.

## Why would you want to use Icytools?

Icytools is fantastic for tracking the current floor prices, volume, and average sales prices of Ethereum NFT collections and recognising emerging trends. Because of its easy-to-understand data visualisation, the analytics platform is an excellent starting point for newcomers looking to understand the market.

A great place to begin exploring [the NFT market](/news/article/refinable-crypto-explained), Icytools takes a streamlined approach that should please all but the most data-hungry consumers. Although the platform solely supports Ethereum NFTs at the moment, multi-chain functionality is in the works.

Icytools' layout and presentation of information may seem bare at first glance, but this is on purpose, as the app's designed with simplicity and clarity. The design puts the focus squarely on the user and avoids overwhelming them with unnecessary data visualisations.

Users of Icytools can look up portfolio balances for any wallet address, view transaction histories, learn about emerging NFT trends, and more. 

Connecting your wallet gives you access to these primary datasets, but if you want access to more in-depth statistics and analytics, you'll have to pay for the premium version. If you want to learn more about a particular NFT collection, you may do so by clicking on it and gaining access to a range of information, including floor price charts, recent activity, holdings, and more.

Along with the standard data set on the NFT market and collections, it also provides a calendar for tracking upcoming events and an API for programmers.

## Where can I find Icytools?

Go to the [Icytools website](https://icy.tools/), where a "trending" dashboard will greet you.

Icytools' free products are great for novices, but seasoned NFT traders might consider upgrading to the premium plan to access the below features:

• Collecting data in real-time and analysing it retrospectively.

• Contract or wallet-based alerts for floor, mint, and sales.

• Filter by whales and other tags in real-time feeds you create yourself.

• Personalised favourite trackers for easy monitoring.  

Icytools combine three essential functions for users new to NFT investing: monitoring your holdings, analysing the market, and discovering new mints. It's easy to start with the collections, and its clean design makes novice users feel at home.

If you're interested in quickly tracking NFT trends and gaining insight into the performance of your collections, the premium option is worth considering. It strikes a good balance between the simplicity of aggregators aimed at complete newcomers and the power and breadth of tools like Nansen, which are aimed at pros and covers the whole spectrum of the Web 3.0.

Naturally, its full capabilities are only available with a paid subscription. Still, individuals who find they need more than the free edition can try out Icytools for a month to determine if the additional datasets are worth the cost.



Icytools: the ultimate NFT analytics platform

Citizens of the Mendoza Province in Argentina can now use cryptocurrencies to pay government fees and taxes, marking another step toward wider acceptance in the country.

The Mendoza Tax Administration (ATM) stated, on the 27th of August 2022, described the new Argentina crypto payment service is one that satisfies "the strategic objective of modernization and innovation". It provides "taxpayers different means to comply with their tax duties."

The 24th of August 2022 marked the beginning of official operations for the service, although, for the time being, it will only accept stablecoins such as Tether (USDT) as payment for taxes.

Using any wallet, such as Binance, Bybit, or Ripio, citizens can make payments through the portal on the ATM website. The system will send taxpayers a QR code when a user decides to pay using cryptocurrencies.

This code will contain [the number of stablecoins](/news/article/crypto-exchange-without-kyc) converted to pesos by an anonymous online payment service provider. A receipt is mailed to the taxpayer once the ATM has received the payment.

## Another significant step towards Argentina crypto adoption

The declaration made by the ATM is merely the most recent in a string of crypto-related adoptions that have taken place all around Argentina. At the beginning of this month, Mastercard announced that it would debut a card in Argentina that would handle 14 cryptocurrencies, one of which would be USDT, in advance of a broader rollout that would serve 90 million online and physical stores.

In April, Buenos Aires, the nation's capital, revealed its intentions to accept public financial transactions in cryptocurrencies like Bitcoin and Ethereum. The unpredictability of the economy has led to [widespread adoption of digital payments](https://cointelegraph.com/news/usd-stablecoin-premiums-surge-in-argentina-following-economy-minister-s-resignation), particularly stablecoins, the price of which has increased significantly since the departure of Argentina's economy minister in July 2022.

[Tether stated that the previous month](https://cointelegraph.com/news/argentina-s-mendoza-province-now-accepting-crypto-for-taxes-and-fees), the nation had "battled high levels of inflation over the entirety of its history." The volatility of the Argentine peso has led to a significant increase in the number of transactions in US dollars. Thanks to Tether, users in Argentina experiencing economic hardships now have access to a helpful tool.

The country has been fighting against inflation that it has been unable to keep at bay due to a lack of faith in the country's central bank and record levels of spending by the government.

A perfect storm of circumstances, including the depreciation of the Argentine peso, has resulted in many people turning to Bitcoin (BTC) and other means to hedge against inflation.

The market is still in the grips of the crypto winter, and the country's central bank intervened in May 2022 to block coin offerings. Despite these headwinds, the country's citizens continue to turn to stablecoins as a means of helping them store the value of their savings in United States Dollars denominated digital assets such as USDC.



Mendoza in Argentina accepts crypto for taxes

What is Infinity Token? It is a new cryptocurrency that seeks to revolutionize the world of digital payments. It offers several advantages over traditional payment methods, including faster transaction times and lower fees. But perhaps the most impressive thing about it is its unique proof-of-stake algorithm.

This algorithm allows users to earn rewards for holding Infinity Mining Tokens (IMT), which helps to secure the network and keeps inflation under control. In this blog post, we will explore the features and discuss why it may be the future of digital payments!

## Infinity Token: the future of mining  

[The Infinity Mining Token](https://www.infinityminingtoken.io/) is an ERC-20 token based on the idea of distributing hash power and Bitcoin rewards among miners through a network of shared mining hardware. The option to trade IMT for IHASH or simply speculate on the price will be available to stakers.
Mining a block requires your computer to organize recently completed transactions into chronological order in a distributed public ledger. The computer then generates a 256-bit hash value from the block. The block has been mined and broadcast if the value starts with a sufficient number of zeros. The greater the processing power, the greater the likelihood of receiving rewards.

The miner's responsibility is to set up and operate their [mining hardware and software](/news/article/sustainable-mining). Mining cryptocurrencies like Bitcoin requires a setup that allows for minimal overhead while maximizing hash-rate production. With the launch of Infinity Mining Token on August 6, 2021 (previously titled Infinity Token), the team set out to achieve complete decentralization in the mining process.

IMT developers worked closely with the Fair Token Project (FTP) during its initial stages. Token holders were eligible to receive 5% of the ecosystem rewards from the IMT and IHASH tokens, thanks to FTP. The total number of Infinity Mining Token holders is slightly over 800, and its market cap is $2.5 million.

The group is moving away from hosting bitcoin miners at a shared facility. The Infinity Mining community has successfully crowdfunded the purchase of 40 Application-Specific Integrated Circuit (ASIC) mining rigs using revenue generated from trading.

The IMT crew has also located a vendor who sells S19 PRO 100 models at a 20% discount from the original price. The group is getting ready to switch to a new growth model based on a new treasury system and an increased number of miners as we look to expand into new areas.
A representative staking platform will be a part of the Infinity Mining protocol. By exchanging IMT for IHASH, IMT owners can participate in staking and earn Bitcoin passively. Users can opt to stake a larger share of the hash rate for a more extended period.
A user's staked Bitcoin in the vault will grow by a small amount daily. IMT will be stored safely in a cold storage vault while you convert it to IHASH. There will be a 72-hour grace period during which the user can either keep their stake in place or remove it. Any unspent IMT tokens will remain in the cold storage facility indefinitely.

Like other Defi protocols and exchanges, the IMT staking platform will charge its users a fee. If users decide to un-stake their tokens before the end of the specified staking period, they will lose a certain percentage of their tokens yield.

The IMT speculates the price of ASIC mining hardware, and Infinity Token community members will guide on matters such as selecting a secure cryptocurrency wallet.



Infinity Hashpower Token: the future of Crypto?

Tesla boss, Elon Musk has a history of engaging in keyboard wars on social media outlet Twitter with many notable names but one of the most infamous is his ongoing spat with Bill Gates.

It all supposedly kicked off in July 2020, the CEO of Microsoft suggested on CNBC's Squawk Box that Musk should reduce the number of controversial vaccination comments he makes and instead concentrate on developing electric cars and rockets.

Earlier this year in a tweet published, Elon Musk accused the billionaire co-founder of Microsoft, Bill Gates of placing bets up to half a billion dollars that the Tesla stock price would decline.

[According to reports](https://fortune.com/2022/05/05/bill-gates-elon-musk-tesla-short-climate-change/), In a text exchange Elon Musk sent Bill Gates the following message, "Sorry, I cannot take your altruism on climate change seriously when you have a big short position against Tesla, the company doing the most to tackle climate change."

Bill Gates responded to Elon Musk by stating that shorting Tesla does not entail betting against the future of the environment or the electric automobiles industry. 

Gates says shorting Tesla is just one of his many investments

[In an interview with the BBC](https://www.bbc.com/news/technology-61329167), Gates stated that his wager against Tesla has nothing to do with his advocacy for environmentally friendly initiatives and policies at the government level. 

"Climate change has absolutely nothing to do with it. I have various avenues for diversification", he stated in the interview. 

The growing market share of electric vehicles will inevitably give rise to increased levels of market competitiveness. There is a distinction between consumers adopting electric cars and businesses reaching their maximum potential value.

In an interview with French Youtuber Hugo Décrypte, Bill Gates mentioned he has invested a significant amount in sustainable finance to support companies that solve environmental and social issues.

"I give a lot more to climate change than Elon or anyone else," Gates said. "I give a lot of philanthropic dollars, I back companies - you know electric cars are about 16% of emissions, so we also need to solve that other 84%."

It is worth noting that Bill Gates plans to [donate virtually all of his wealth to the Bill and Malinda Gates foundation](https://www.theguardian.com/us-news/2022/jul/15/bill-gates-billions-fotune-donate-foundation), a non-profit dedicated to fighting poverty, disease and inequity around the world. 

Both men have contributed towards creating revolutionary technologies that have made the world a better place. This just show no matter how smart or successful people may be, personalities will always clash.


Bill Gates Tesla price warning annoys Elon Musk

One of the largest operators of [cryptocurrency ATMs](/news/article/bitcoin-atm), Bitcoin Depot, has decided to list by merging with a special purpose acquisition company (SPAC) on the Nasdaq exchange. Bitcoin Depot announced the merger with the SPAC GSR II Meteora Acquisition Group (GSRM) will be complete by the end of 2023.

Bitcoin Depot was founded in 2016 and is based out of Atlanta. Bitcoin Depot's services make it easy, fast, and convenient to exchange fiat currency for Bitcoin. 

The total price of the deal is forecast to be $885 million. The transaction estimates to raise around $321 million, which will be deposited into a trust account managed by GSRM and used to provide working capital for Bitcoin Depot.

The funds will provide working capital to expand the business's current and new products. 

## Over 7,000 Bitcoin Depot stores nationwide

Due to the planned listing during a market downturn, with investors' declining risk tolerance will make raising capital tricky. Bitcoin ATMs allow customers to purchase BTC or other cryptocurrencies with cash or debit cards. Cryptocurrencies are then sent instantly to the customer's [preferred wallet](/news/article/crypto-wallet-multiple-currencies).

You don't need to go to a cryptocurrency exchange platform to do all this! Scammers who post fake ads for goods on online marketplaces like eBay and Craigslist have been linked to the crypto ATM business.

Scammers direct victims to deposit cash at an ATM and then transfer cryptocurrency to a specified address. These fraudulent vendors take payment but never send out the purchased items. Across the United States and Canada, BTC Depot has a network of over 7,000 retail locations.

Eighty countries now host over 38,000 cryptocurrency ATMs. Bitcoin Depot, headquartered in Atlanta, claims to have 19.1% of the global crypto ATM market.

## Crypto ATM business network expansion

Bitcoin Depot's mission is to spread awareness of BTC to the broadest audience possible. Cryptocurrencies have simplified the processing of monetary transactions.

BTC Depot's CEO and founder Brandon Mintz said, "Today marks an important milestone for Bitcoin Depot." We see a lot of potential for expansion, and we think going public will help us get closer to our ultimate goal of offering a simple and safe way to buy cryptocurrency. 

In recent years, SPACs have gained much popularity as a method of public listing. The U.S. Securities and Exchange Commission (SEC) has warned that SPACs will be subject to increased scrutiny, which one must consider before investing.

Crypto ATM business Bitcoin Depot to list as SPAC 

Under former South Korean president, Moon Jae-In, authorities ensure difficult procedures were in place to stifle and challenge the expanding South Korean crypto sector by subjecting exchanges to a time-consuming registration process.

Yoon Suk-Yeol, the new president of South Korea, took office in May, and he has promised to be very supportive of the cryptocurrency industry, giving new cryptocurrency projects the attention they need.

## Stringent but supportive crypto environment in South Korea

The new administration looks to follow the [regulatory model of other developed countries](/news/article/uk-crypto-exchange) to ensure there is consumer safety without stifling innovation.

The South Korean Ministry of Strategy and Finance recently announced that it would implement a gift tax that would affect the creation of airdropped tokens, staking rewards, and hard-forked assets.

Numerous citizens were taken aback by the news the as administration had initially planned to extend the tax on cryptocurrency until 2025. Accelerating the countries tax regulation plans shows sentiment towards driving standardization in the industry.

## Samsung to launch the South Korean crypto exchange in 2023

Due to the above mentioned more accommodative crypto environment is South Korea, traditional corporations have recently begun to take a more active interest in the cryptocurrency industry.

A new initiative by Samsung to build a cryptocurrency exchange in South Korea by 2023 was [announced by Bitcoin Magazine](https://www.coindesk.com/business/2022/08/22/seven-s-korean-brokerages-plan-to-start-crypto-exchanges-next-year-report/) on the 22nd of August.

According the [recent Coindesk report](https://www.coindesk.com/business/2022/08/22/seven-s-korean-brokerages-plan-to-start-crypto-exchanges-next-year-report/), approximately seven firms have formally submitted applications seeking primary authorization and are establishing corporations to manage an exchange. These platforms are anticipated to debut in the first half of 2023.

Two notable companies mentioned were Samsung Securities (a division of Samsung Futures Inc) and Mirae Asset Securities. 

Samsung Securities has been investigating the feasibility of entering the blockchain industry and the security tokens market, hence the plans of launching their exchange in the near future. Mirae has unveiled a new division called Mirae Consulting, which hires technical people to work on various cryptocurrency and Non-Fungible Token (NFT) initiatives. 

More blockchain based businesses are expected to be built in South Korea in the coming years, so keep your eyes peeled!



Samsung set to open crypto exchange in South Korea

The Federal Reserve has made it easier for progressive financial organizations to access their master accounts and participate in the international monetary system. This appears to be a step towards the [US Federal Reserve granting crypto banks direct access to the Fed's funds](https://99bitcoins.com/bitcoin-news-summary-aug-22-2022/), eliminating the need for these institutions to work with traditional financial intermediaries.

## U.S. Federal Reserve eases access to central banking for crypto banks

The U.S. Federal Reserve announced it would release the final rules governing how [alternative financial institutions](/news/article/crypto-friendly-banks-uk) may gain access to its "master accounts," which are required to participate in the international monetary system.

The Federal Reserve seems to be moving closer to providing Wyoming's special purpose depository institutions (SPDIs) like Custodia (previously Avanti) and Kraken Bank access to these accounts, eliminating the need for intermediate banks. In 2017, the Fed initiated the guidance proposal process by issuing a request for comments.

After almost 300 people commented, the second round of public feedback was held earlier this year. Fed Vice Chair Lael Brainard released a statement in which she said, "The new guidelines establish a consistent and transparent process to consider requests for Federal Reserve accounts and access to payment services to ensure a safe, inclusive, and creative payment system."

[The new regulations are essentially in line with proposals from 2021](https://www.coindesk.com/policy/2022/08/15/us-fed-opens-pathway-for-crypto-banks-to-tap-central-banking-system/), which will establish a tiered approach that will allow the Fed to tailor its vetting process for providing access based on the type of financial institution making the request. There is a progressively more thorough evaluation procedure at each tier.

The recommendations would make Tier 1 banks eligible for FDIC insurance. "Subject to prudential supervision by a federal banking regulator," but not "federally insured." Companies in the third tier are "not federally insured and nor subject to prudential supervision by a federal banking institution," which describes the Wyoming crypto banks.

The Fed received feedback after issuing its initial proposed guideline in 2021 and its modified the guidance earlier this year, as stated in the press release.

Many comments suggested that the Proposed Guidelines make it more difficult for institutions with unusual charters to open accounts and use services.

Regardless of the institution's operations, many commenters felt that the Proposed Guidelines should hold all financial institutions and crypto banks to the same standards as federally insured depository institutions.
 


Central banking access eases for crypto banks

Afrostar launched its cryptocurrency token in November 2021 and plans to launch a coin on a bespoke blockchain imminently. The introduction of this crypto asset comes at a time when countries around the world begin to regulate the integration of cryptocurrency in developed economies.

Afrostar aspires to combine Africa's digital assets under a single brand. It is envisaged that the asset would be widely accepted across the region and eventually become one of the world's most popular cryptocurrencies.

## What is the Afro star coin project?

[Afrostar](https://www.afrostar.io/) has created cryptocurrency token that is currently live called AFRO on the Binance Smart Chain. The intention is that trade between African countries will be facilitated by the adoption of this token, and Africans will be able to invest in it and the underlying platform to earn profits.

The Afrostar  project plans to develop coins, online tools and decentralized applications (dApps) aimed at cryptocurrency investors. A new coin will be launched along with the project's own blockchain, NFT platform and cryptocurrency trading exchange. An Afrostar app is in development to make all the offerings accessible.

Africa's residents will be able to use the Afro star coin blockchain to create dApps and [access blockchain-based services](/news/article/applications-of-blockchain). 'We are happy to announce the groundbreaking Afrostar platform, Africa is the future of the globe and we want to be a part of making it so. ' stated a project representative.

### The Afrostar project is divided into three phases: 

1) Phase 1: The Afrostar [token](/news/article/crypto-coin-vs-token) was launched. 
2) Phase 2: Launch of the Afrostar coin and blockchain.
3) Phase 3: Launch of NFT and exchange platforms.

## Is Afrostar going to be a hit?

According to data from CoinGecko, Afrostar's native coin, AFRO, had a recent daily trading volume of over $2 million. The Afrostar project is being developed at a time when Africa is one of the top three global markets for cryptocurrency adoption.

Because of the continent's burgeoning digital currency market, the new project will include a wide range of features that Africans have shown a need for. There were already 0.5 million prospective Afrostar consumers at the start of construction.

The project's backers have decades of business expertise and have already begun a successful marketing effort to raise awareness of the initiative among the general public.

## Is Afrostar open to all investors?

While the Afrostar initiative has a significant focus on Africa, the app and the Afrostar token can be used by people throughout the world. The token's value will rise in direct proportion to the number of individuals using the app.


What is Afro star coin? Africa's crypto overview

If you've been reading about the various uses of the [Manta coin](https://coinmarketcap.com/currencies/manta-network/) protocol, you've probably noticed that it has a lot of different underlying digital assets. This is because Manta allows users to exchange digital assets anonymously through the use of the MantaDAX platform.

These exchanges and payments are entirely private and anonymous, as they use two old coins and generate two new ones. This makes them a particularly good choice for a variety of purposes.

## zk-SNARKs

The zk-SNARKs cryptographic algorithm is implemented by the Manta network. Essentially, it's a method that allows two counterparties to verify information without sharing the underlying data.

This could be useful for things like logging into a website and confirming one's identity. This would ensure that a user's identity and transactions remain confidential.

Ring signatures and zk-SNARKs have both been the subject of criticism since the project was first introduced to the mainstream. However, new developments have solved most of the identified design flaws.

For instance, research has criticized the Monero ring signature scheme. A leaked reference string could be used to create undetectable fake proofs. Secondly, zk-SNARKs' reference string cannot be upgraded. 

## Substrate framework

The substrate framework is the main technology behind the Manta network, an on-chain privacy protocol that utilizes zero-knowledge proofs for private crypto assets. The manta network interoperates with the Kusama and Polkadot ecosystems.

The network recently launched a new logo and shifted its focus from product development to brand building and strategy. It is now looking to secure a place in the crypto sphere with the support of the substrate framework.

The team at Manta Network has built a private layer to the Polkadot ecosystem, which is natively compatible with other projects and parachain assets. In addition to this, the network has wrapped several major cryptoassets such as Bitcoin, Ethereum, and Litecoin.

The company released a test net during Q1 of 2021. It has already submitted its architecture to the Web3 Foundation and the International Association for Cryptologic Research (IACR).

## MANTRA DAO

MANTRA DAO, a blockchain technology development company, has created [a new protocol called DeFi](/news/article/instrumental-finance-defi). The project is built around the idea of storing collective wealth with crypto assets, which is similar to a bank.

This protocol utilizes crowd wisdom to create a decentralized ecosystem that is community-governed and transparent. It was first created for the Polkadot ecosystem but has since expanded to other popular dApp platforms, including Ethereum and Binance Smart Chain. The project is also planning to launch its own chain, MANTRA, which will support the Terra cryptocurrency.

While MANTRA DAO is not completely decentralized, it will be maintained by a foundation led by a five-member council. These members have extensive experience in the cryptocurrency trading industry.

They will each serve a two-year term and are eligible to form sub-councils to focus on specific areas. It is important to note that MANTRA DAO is not yet battle-tested, so there isn't much data available to support its claims.

## Polkadot

Adding security, scalability, and interoperability to the blockchain is the mission of the Polkadot ecosystem. As part of its ecosystem, over 350 projects are available, ranging from smart contracts to decentralized finance to digital collectibles and gaming.

The DOT tokens that support the ecosystem are distributed among the DOT holders. The network also offers cross-chain functionality for facilitating transfers of any type.

The network's main blockchain, called the relay chain, has many parallel chains that can be used to transfer value.

The linking layer, or bridge, is designed to connect the various blockchains. It also allows for the integration of non-blockchain databases. These features make it possible for developers to operate across different blockchains. Manta Network is a leading project within the Polkadot ecosystem.


The Manta coin protocol explained

After the launch of RippleNet's On-Demand Liquidity (ODL) with foreign exchange provider Travelex, Ripple's XRP token will be used to facilitate fast and low-cost cross-border transactions in Brazil.

On 18 August 2022, Ripple announced that the foreign exchange company Travelex currency services would use RippleNet's ODL to facilitate XRP-based cross-border payments between businesses.

Furthermore, Travelex Bank was cited as the first Brazilian financial institution authorized to deal solely in foreign exchange by the country's Apex bank. [Ripple](/news/article/xrp-case-price-uk) claims this is the first time a Latin American bank has used ODL.

However, other Latin American businesses like Banco Rendimento, Remessa Online, Frente Corretora, and Banco Topazio have used RippleNet services. For now, Travelex will only facilitate these payments between Brazil and Mexico.

Still, the company has plans to expand into other countries in the region and develop additional use cases tailored to the requirements of businesses.

## Travelex currency services and Ripple targeting the Brazilian market

News of the development follows the April 2022 passage of Brazil's first "Bitcoin law," which sought to establish a regulatory framework for treating virtual currencies. The Brazilian central bank is also launching a digital currency (CBDC).

However, economist Fabio Araujo believes that the CBDC "will be able to halt bank runs and impose other restrictions on citizens' access to money," even though this decision has been met with much opposition.

Brazil's adoption of a crypto-friendly regulatory framework and rising institutional interest in digital asset solutions make it a great fit for the ODL, [according to Ripple CEO Brad Garlinghouse](https://cointelegraph.com/news/ripple-partners-with-travelex-to-launch-enterprise-crypto-payment-service-in-brazil). Ripple sees Brazil as a crucial market because of the country's strategic location as a hub for Latin American trade, its tolerance of cryptocurrencies, and the government's efforts to foster the development of the fintech industry on a national scale.

For this reason, there has been a flurry of activity in the market as institutions rush to adopt crypto and blockchain technology to address customer concerns.

Travelex currency services adoption of the ODL service will greatly improve the efficacy of cross-border payments, which currently total over $780 billion per year and are directed to Brazil,  according to Garlinghouse.

We've always emphasized creating solutions that have real-world value. We're thrilled to work with a forward-thinking partner like Travelex Bank to facilitate faster and more secure money transfers in Brazil.


Travelex currency services partner with Ripple

The Cyprus Securities and Exchange Commission (CYSEC) has given digital banking firm Revolut permission to offer cryptocurrency services throughout the European Economic Area (EEA).

A fresh report claims that Revolut has been granted cryptocurrency-asset service provider (CASP) status by the island nation's governing body. The company has been on a hiring binge lately, despite the sluggish economy.

## Acceptance of crypto in Cyprus

The new license will allow the business to serve its 17 million European Economic Area customers from its newly established crypto center in Cyprus. After looking into various EU nations, Revolut ultimately decided on Cyprus as its base of operations.

[Famous exchanges including eToro](/news/article/etoro-fees), Crypto.Com, CMC Markets, and Bitpanda all call the country home. The app's representative said that the latest action was due to the sophisticated and tough regulatory regime of the CYSEC agency. He added also that "We heartily accept the European Parliament's clear goal to foster innovation while mandating robust customer protection safeguards to avoid any form of market abuse, and we applaud the new EU-wide law.

Revolut has obtained a license from the Central Bank of Spain and the Monetary Authority of Singapore, in addition to Cyprus (MAS). Over the next six months, the British fintech firm plans to increase the number of employees by 20% across the United Kingdom, the United States, and Europe. In previous Revolute news, the company has hired an additional 43 people so far this year. 

After over two years of debate, the Markets in Crypto Assets (MiCA) framework will be implemented by the end of 2023. It's a key component of the European Union's plan for the future of digital money.

To this end, MiCA seeks to establish a solid legal framework for the digital assets under its purview that have been excluded from the scope of existing financial services legislation in order to guarantee legal certainty.

It will aim to safeguard market players from the dangers connected with digital assets while also encouraging innovation and level playing fields. In addition, it will deal with threats to economic security.


Revolut News: Bank approved to offer crypto in EEA

The Singapore High Court has extended Zipmex's moratorium by three months after the exchange was hamstrung by its exposure to crypto firms Babel Finance and Celsius Network.

Zipmex (ZMT) was the latest victim of a crypto contagion spurred by the collapse of the TerraUSD stablecoin when it revealed in July that it has US$48 million (S$66 million) of exposure to Babel and US$5 million with Celsius.

On July 22, the business applied for a moratorium to prevent creditors from suing Zipmex Asia and other major operating subsidiaries. Zipmex Pte Ltd (the Singapore entity), Zipmex Company Limited (the Thai business), Zipmex Australia, and PT Zipmex Exchange Indonesia are all listed as applicants.

## Committee Given Extra 3 Months

[ZMT had asked for an additional five months](https://www.straitstimes.com/business/banking/singapore-court-grants-crypto-exchange-zipmex-3-month-creditor-protection) to pay off its debts, but on Monday, August 15, Justice Aedit Abdullah voiced worries about the company's lack of communication with its creditors and customers in Thailand. He gave the committee an extra three months, until December 2, to resolve the issues they brought up, with the possibility of further extension.

In the moratorium application hearing on August 1, Justice Abdullah praised Defi Payments for its efforts to involve its creditors.

ZMT has three different investment offers on the table right now. The business has agreed to terms with two investors and received a non-binding letter of offer from a third. Lawyer for ZMT, Jonathan Tang from Morgan Lewis Stamford, claimed that each investor plans to inject capital into the company by purchasing shares in ZMT Asia or by injecting crypto assets into the company in exchange for shares.

The withdrawal process on ZMT was paused in July, although customers have been able to withdraw some Ether and Bitcoin since August 11 and August 16, respectively.

There is a total debt of around $1.1 million represented by the objections. After stating on July 25 that it was collaborating with law enforcement to investigate potential public losses as a result of Zipmex's difficulties, Thailand's Securities and Exchange Commission has been closely monitoring the effects of the company's troubles on Thai consumers.

Several [other cryptocurrency firms have also sought bankruptcy protection](/news/article/crypto-lending-platform-voyager) in recent months. A moratorium has been placed on Defi Payments' application for a Singapore digital payment token license as the company attempts to restructure the US$402 million in debt it owes to around 147,000 creditors worldwide.
 



Zipmex Gets 3-Month Creditor Protection

What is Solana (SOL)? It is a protocol that enables the creation of blockchain applications with scalability. This means that developers can use it under their own brand to create applications. And due to its scalability, it can manage a large volume of transactions without any issues.

The Solana price is currently hovering around the 33.36 GBP level, this project is undergoing numerous exciting developments. SOL can be purchased at spot GBP price on any of the [major UK exchanges](/news/article/best-exchanges-for-crypto-uk).

This post will examine SOL in greater detail and explain whether you should consider investing in it!

## What is SOL?

It is a project that wants to [scale blockchain protocols](/news/article/solana-price-uk) so that they can handle real-world applications. The team behind Solana appears to have a lot of experience in both the traditional financial sector and technology.

So, SOL is a new cryptocurrency created to help make the technology more accessible and user-friendly. The Solana coin protocol allows developers to create and launch their blockchain-based applications on a white label basis. 

They can use SOL to power their applications without worrying about the underlying infrastructure. In addition, Solana can be used to pay for transaction fees and other costs associated with using the latest technology. 

## What are the use cases of SOL?

•	It can be used to produce and manage digital assets.

•	Developers can construct decentralized applications (dapps) using SOL.

•	On its platform, it can be used to pay for goods and services.

•	Participating in the platform's consensus mechanism enables users to earn interest in their SOL.

•	SOL can be traded for other cryptocurrencies or fiat money on exchanges.

In addition, SOL provides [many features and benefits](https://www.cryptonewsz.com/forecast/solana-price-prediction/) that make it an attractive option for developers looking to create and launch their decentralized applications.

## Bottom line

SOL is a scalable protocol that facilitates the creation of decentralized applications by programmers. The protocol employs a one-of-a-kind consensus mechanism to achieve high transaction throughput without compromising security.

Additionally, it features a native token, SOL, which can be used to pay network transaction fees. The protocol is open source and available for white label use by anyone.


The Solana blockchain & current price in GBP

Earlier today, Binance Labs, the startup capital and accelerator arm of BNB, made public its strategic investment in Ankr, the Web3 powerhouse known for its decentralized infrastructure.

Ankr's substantial open-source contributions to Binance's BNB Chain, BNB Liquid Staking, and general ecosystem support are primary drivers that attracted the investment from Binance Labs.

## What is Ankr?

In essence, Ankr facilitates the launch of blockchains for businesses, allowing them to provide superior Web3 experiences to their customers in record time. The protocol, scheduled for release in 2021, will eventually process 200 billion Remote Procedure Call (RPC) queries each month across 50 different blockchain networks.

[Specifically, Ankr's COO Ryan Fang said](https://en.cryptonomist.ch/2022/08/11/binance-labs-makes-strategic-investment-in-ankr/): The addition of Binance Labs as a strategic investor fills us with joy. With the most daily transactions and users, BNB is clearly the leader. 

Ankr serves over 7.2 billion daily blockchain requests on over 30 different blockchains, making it the second largest node provider (after Alchemy). 

The possibility is to further serve its customers, they plan to invest the funds towards expanding its market-leading RPC service and its portfolio of Web3 development tools, which currently includes the Liquid Staking Software Development Kit (SDK), the Web3 Gaming SDK, and the App Chains As A Service.

In addition, their Protocol processes over 7 billion blockchain requests every day across the 18 blockchains on which it provides RPC hosting. The fact that all [BNB initiatives](/news/article/binance-staking) and users stand to gain greatly from Ankr's improvements to the network is another reason for Binance Labs' endorsement of the project.

As previously mentioned, Ankr is responsible for most of BNB's foundational architecture, including the Erigon update, the Archive Node upgrade, and the most recent BNB Application Sidechain (BAS) scaling solution. 

Yi He, a co-founder and manager of Binance will be leading the incubator's venture capital (VC) division.

Yi He will be responsible for Binance Labs' general direction and day-to-day operations, with some of his time spent bolstering infrastructure initiatives and enhancing the practical applications of cutting-edge crypto and blockchain endeavors.


Ankr receives significant investment from Binance

Monero is a cryptocurrency that prioritizes user privacy and has one of the most dedicated communities in the cryptocurrency business.

However, investors in the UK frequently struggle to figure out how to exchange Monero (XMR) for British pounds. This article offers a solution to the problem by identifying exchanges from which users can withdraw their Monero holdings.

In other words, you will get the knowledge necessary to sell XMR for GBP or transfer Monero to a bank account in the shortest amount of time feasible.

## A quick ways to sell XMR on Binance in exchange for GBP

[Create an account on Binance](https://www.binance.com/en) and go through their full KYC verification process.

•	Navigate to Wallet > Spot and Fiat.

•	On the wallet, search for XMR and click the Deposit button.

•	Make a copy of the address that has been provided, and then send the funds from your personal Monero wallet.

•	Once the confirmation is complete, navigate to Trade > Convert.

•	When converting to BUSD, choose XMR as the currency (1 BUSD = $1).

•	You may finish the conversion by entering the amount you want to convert to BUSD.

•	Once this step is finished, repeat the previous steps to convert BUSD to GBP.

•	You should now navigate to Wallets > Fiat and Spot.

•	On your British pound wallet, select the Withdraw option.

•	You will be asked to enter the amount you wish to withdraw and your account or card information.

•	Start the withdrawal process, and Binance will move the money from the escrow account to your specified account. 

The preceding illustration presupposes that you already possess XMR stored in a personal wallet and just wish to pay it out
[Binance](/news/article/binance-bridge), which is one of the largest cryptocurrency exchanges in the world, allows users to trade Monero using a variety of different pairs.

Peer-to-peer (P2P) trading is an additional means for people living in the United Kingdom to cash out their Monero holdings on Binance. 

Verification is necessary to access any of the fiat gateways, and this includes P2P trading. How to go about it:

•	Initiate the Know Your Customer (KYC) procedure by registering for a Binance account.

•	Navigate to the Wallet > Fiat and Spot menu.

•	Navigate to your XMR wallet and select the deposit button.

•	Make a copy of the address that has been provided, and then finish the transaction using your external wallet.

•	Navigate to the Trade menu, select Convert, and change the XMR to USDT (You can also convert XMR to BTC) -Go to Trade>P2P.

•	Ensure that the currency is set to GBP, and then flip the Buy to Sell button offered. -When asked which coin you want to sell, select USDT (or BTC if you converted to it).

•	Choose a buyer with a high percentage of successful transactions and an offer corresponding to the price you wish to sell for.

•	To complete the transaction, go to the order, click the Sell button, and add a payment method to your account.

•	Begin placing the order and then wait for the vendor to transfer the payment to the GBP account you supplied.

•	Once you have the notification of the deposit from your bank, verify that you have received it. Finally, the following methods can be used to withdraw funds: bank transfers, credit cards, and debit cards.


How to  exchange Monero (XMR) to GBP in the UK

Ethereum merge news is having an impact on the price of digital assets linked to the blockchain.

ETH-based digital asset funds have seen positive inflows for seven straight weeks as institutional investors pile in, according to the latest CoinShares report. There were $16.3 million inflows last week, bringing total inflows to $159 million over seven weeks.

Market sentiment for Ethereum-focused products is primarily due to "greater clarity" regarding the upcoming merge. It is scheduled for September 19, according to CoinShares Head of Research James Butterfill on Monday. A shift from proof-of-work to proof-of-stake in Ethereum's algorithm is credited with the change in investor sentiment.

Finally, Ethereum 2.0 Beacon Chain will be added to the mainnet in the merge, concluding an important transition from PoW to PoS. When Ethereum switches to a PoS consensus mechanism, it should become more secure and use less energy, which will, of course, help make it less harmful to the environment.

The Goerli and Prater testnet merge is also scheduled for this week, and it will be the final dress rehearsal before the mainnet merge takes place in less than six weeks.

## Traders are getting ready for the next round of trading

[Cryptocurrency analysts Glassnode have predicted](https://cointelegraph.com/news/institutions-flocking-to-ethereum-for-7-straight-weeks-as-merge-nears-report) that the anticipated Ethereum merge news will lead to "buy the rumor and sell the news" among traders. For Ethereum, "derivatives traders are placing obvious bets on the upcoming merge."

An analytics firm's newsletter, Betting on the Merge, ETH options and futures are now in "backwardation". That is a situation in which the current price of an asset is higher than the prices trading in the futures market.

When it comes to the Ethereum merge news, futures and options markets are in a backwardation after September, which suggests that traders are anticipating an event like this and have positioned themselves accordingly, the newsletter said. Data from Ethereum options shows professional traders are ready to go long on ETH's Merge, which is relevant.

However, [the merge's impact on Ether's price](/news/article/ethereum-merge) is yet to be determined.

In a recent interview, Ethereum founder Vitalik Buterin said the "narrative" is likely to remain positive after the merge, which is "an aspect that hasn't yet been priced in."

He added, "I expect morale to soar once the merger is completed. In other words, I believe the merger will not be priced in, and by that, I mean not just in terms of market value, but also in terms of psychological impact and narrative arc. After the fact, I don't think it's going to be factored into the narrative at all."

CoinGecko reports the price of Ethereum is $1,776 at the time of writing, up 8.6% in the last seven days.



Ethereum Merge News Just Around the Corner

What are the trending crypto coins that investors should be watching this week?

The latest economic news from the US suggests cryptocurrency markets may have more room to rebound from the downturn earlier this year.

## Job Market

The US jobs report on August 5 exceeded market expectations, indicating inflation hasn't dropped. Strong figures diminished the chance that the Fed will delay rate hikes.

CME Group data shows a September rate hike of 75 basis points is now 68% likely. Fundstrat analysts disagree.

The S&P 500 bottomed six months before the Fed's last rate hike on three out of six occasions. In the year's second half, it's anticipated that the S&P 500 could surge to 4,800. If the correlation between equities and crypto markets holds, the crypto markets may have more room to rebound.

If Bitcoin (BTC) does go through the $25,000 mark, there is no substantial barrier until $26,000 to $28,000, according to Material Indicators. Could Bitcoin break through the resistance and drag altcoins higher?

## Trending Crypto Coins: BTC/USDT

Analysis shows that Bitcoin has been trading near the 20-day exponential moving average (EMA) of $22,719 for a few days, indicating a bull-bear struggle. The bulls have held the level, but haven't rebounded strongly. This signals lower demand.

The fact that both moving averages have flattened and the RSI is just over the middle indicates that buyers and sellers are balanced. Buyers could gain if they push the price above $24,668. If they do, BTC/USDT might climb to $28,000 and perhaps $32,000. If bears do pull the price below the 20-day EMA, the pair might fall to a 50-day SMA of $21,719.

If this support breaks, the uptrend line may be next. The last four-hour chart showed $22,400 to $23,648. Again, both of the moving averages have flattened, and the RSI is midway, indicating a supply-and-demand balance.

If bulls push the price above $23,648, the pair might reach $24,668. Bears will have a short-term advantage if the price falls below $22,400. The pair could fall to the uptrend line of solid support.

## Trending Crypto Coins: FLOW/USDT

Flow (FLOW) broke out of a tight trading range on August 4. This signals accumulation and a fresh uptrend. Bears are trying to arrest the uptrend near $3, but bulls haven't lost much ground. Traders aren't booking profits after the recent rally. This means that bulls have the upper hand as the 20-day EMA of $2.07 has risen, and the RSI is nearly overbought.

[FLOW/USDT might surge to $4.60](https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-flow-theta-qnt-mkr) if investors push the price above $3.00 to $3.30. The pair has turned down $3.00, but is finding support at the four-hour 20-EMA.

Bulls could retest $2.99 if the price rises above $2.80. The rise could resume if this level is broken. If the value goes below the 20-EMA, this pair might fall to the 50% Fibonacci retracement level of $2.41 and then to $2.27. A break below this level could favour bears and send the pair under $2.00.

## Trending Crypto Coins: THETA/USDT

Theta Network (THETA) broke and closed above $1.55 on August 5, signalling a bullish range resolution. On August 6, bears sought to lower the price below the breakout mark, but bulls resisted. The 20-day EMA of $1.39 is rising, and the RSI is bullish, favouring buyers.

If bulls keep THETA/USDT over $1.65, a new rally toward $2.10 could begin. If bulls overcome this resistance, the pair might climb to $2.60. Bears must pull prices below $1.55 to invalidate this bullish perspective.

If so, aggressive bulls may get trapped, and the pair may decline to moving averages. The four-hour chart indicates that bulls bought the decline to the 20-EMA. Both four-hour moving averages are rising, and the RSI is near overbought, indicating bullish momentum.

If bulls retain $1.65, the uptrend may restart. A closure below the 20-EMA will signal weakness. If so, the duo might hit the 50-SMA. Bears must push prices below this level to end the rally.

## Trending Crypto Coins: QNT/USDT

Quant (QNT) rallied from its June 13 low of $40. It seems that bulls have aggressively bought the dip below the 20-day EMA of $103 on July 26. Bulls drove the price above $115 on August 6. The rise resumed.

The QNT/USDT pair could rally to $154 to $162, where bears may defend. [Bulls will try to turn $115 into support if the price drops](/news/article/crypto-fear-and-greed-index). If so, the pair's upswing might resume. Bears must push prices below the 20-day EMA to win.

The pair is on an uptrend, but the four-hour RSI is overbought, suggesting a near-term pullback. Bulls should purchase declines to 20-EMA. If they do, it will show that traders are buying on dips. That increases the likelihood of an uptrend.

If the price drops below the 20-EMA, the pair might fall below the 50-SMA. A break below this level could send prices to $100.


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