The online gambling industry has always been a frontrunner in adopting new technologies, constantly evolving to enhance the user experience and stay ahead of the competition. Fintech – encompassing developments like blockchain technology, digital wallets, and cryptocurrencies – has lately become a significant driver of change in online gambling. These tech advancements have reshaped how players deposit and withdraw funds,
Bitcoin’s network hashrate recently achieved an unprecedented milestone, reaching 679 exahashes per second (EH/s) in September 2024, marking a significant development in the currency’s history. This tremendous surge in computing power not only highlights the increase in mining activity but also underscores Bitcoin’s robust foundation, suggesting solid long-term growth prospects for the cryptocurrency. Analysts from Presto Research, such as Peter
Wise Platform and AbbeyCross have announced a significant partnership aimed at enhancing connectivity and rates in foreign exchange (FX) payments, a move that holds promise for the future of international financial transactions. By combining Wise’s renowned cross-border payment technology with AbbeyCross’s comprehensive platform, this collaboration is set to deliver faster, more transparent FX payment rates, particularly benefiting emerging markets. Introduction
The recent collaboration between Ethereum Name Service (ENS), PayPal, and Venmo signifies a notable shift in the cryptocurrency landscape, aiming to bring digital assets into mainstream financial operations. This integration is poised to streamline the complexities associated with cryptocurrency transactions, enhancing the user experience and accelerating adoption rates. A Simplified Transaction Process Traditionally, one of the significant hurdles in cryptocurrency
In a significant development for the decentralized finance (DeFi) ecosystem, Synthetix has announced the launch of its new app chain, SNAXchain, aimed at revolutionizing cross-chain liquidity and boosting trading-fee revenues for native-token stakers and onchain trading products. Officially unveiled by Matt Losquadro, a core contributor at Synthetix, SNAXchain is set to initially serve as an onchain governance platform for managing
The recent partnership between Web3 gaming platform Moxy and blockchain firm Skale Labs is poised to create a revolutionary gasless transaction ecosystem for gamers. Central to this collaboration is the migration of Moxy’s WMOXY token from the Ethereum blockchain to the SKALE Protocol, a layer-2 Ethereum blockchain known for its high-speed infrastructure. The primary goal is to eliminate gas fees
VanEck has recently announced its decision to shutter the Ethereum Strategy ETF (EFUT), a futures-based Ethereum exchange-traded fund, due to insufficient investor demand. The closure is scheduled to take place on September 16, with the liquidation and return of assets completing by September 23. According to the announcement, various factors contributed to this decision, including the product’s performance, liquidity, assets
The confluence of artificial intelligence (AI) and automated systems has opened new frontiers in various industries, including music. Yet, the case of Michael Smith, a man who exploited these technologies for fraudulent gain, has shocked the music world. Smith’s sophisticated scheme, which leveraged AI-generated music and bots to rake in $10 million in royalties, serves as a cautionary tale for
The recent cyber-attack on Slim CD, a prominent electronic payment gateway, has led to the exposure of sensitive payment information of 1.7 million customers. This incident highlights the ever-growing threats facing the financial services industry and underscores the urgent need for reinforced cybersecurity measures. Slim CD, which facilitates electronic transactions for thousands of merchants across the United States and Canada,
In an exciting development for Saudi Arabia’s financial landscape, Barq, a burgeoning FinTech startup, has announced a strategic partnership with Mastercard, a global titan in the financial services industry. This alliance promises to bring a wave of innovative solutions and security enhancements to the payment ecosystem in the Kingdom, marking a significant step toward the modernization of financial services. Driving
The implementation of Avaloq’s cutting-edge digital asset platform at Zürcher Kantonalbank (ZKB), one of Switzerland’s leading banking institutions, marks a significant step towards embracing digital innovation in the financial sector. In collaboration with Fireblocks, this development is not just a response to the increasing market demand for trading and securing digital assets; it also underscores the broader trend of traditional
The landscape of the financial services industry is being transformed by embedded payments, a trend that holds significant promise for advancing financial inclusion globally. This report delves into the current state of the industry, examining emerging trends, analyzing data, and offering forecasts on the future of embedded payments and their role in promoting financial inclusion. Current State of the Industry
