IBM Enters Crypto World with New Platform for Banks and Governments

IBM has launched “Digital Asset Haven,” a crypto custody platform tailored for banks, governments, and large enterprises, marking its formal entry into institutional blockchain infrastructure.

Here’s a detailed breakdown of what IBM’s new platform offers and why it matters:

What Is Digital Asset Haven?

• Launch Date: October 27, 2025
• Purpose: Secure, compliant custody and transaction services for digital assets
• Target Clients: Financial institutions, government entities, and large corporations

Key Features

• Multi-Blockchain Support: Custody, transfer, and settlement across 40+ blockchains
• Wallet Management: Integrated wallet infrastructure with policy-based governance
• Compliance Tools: Built-in KYC and AML frameworks
• SaaS Rollout: Initially offered as Software-as-a-Service (SaaS)
• Partnerships: Developed with Dfns, a French wallet infrastructure firm

Strategic Context

• Supports the emerging $10 trillion tokenization economy
• Includes Bitcoin custody and tokenized payments
• Marks IBM’s shift from experimental blockchain efforts to regulated infrastructure

Implications

• For Institutions: Trusted, enterprise-grade solution for digital asset management
• For IBM: Positions IBM as a serious contender in blockchain infrastructure

After winding down earlier blockchain efforts (like IBM Food Trust), this marks a renewed, enterprise-focused push. It targets the same institutional segment as Fireblocks, Anchorage, and BitGo, but with IBM’s legacy in enterprise trust and compliance.

IBM plans to integrate AI-driven risk scoring and predictive compliance analytics by mid-2026.

Architecture & Technology Stack

• Core Infrastructure: Built on IBM Cloud and IBM Hyper Protect Services with confidential computing and hardware-based encryption
• MPC Wallets: Uses multi-party computation (MPC) for keyless custody and distributed signing
• API-First Design: RESTful APIs for integration with banking systems and blockchain networks
• Smart Contract Support: Compatible with Ethereum, Solana, and other programmable chains

Security & Compliance

• Regulatory Alignment: Meets Basel III, MiCA, and FATF Travel Rule standards
• Audit Trails: Immutable logging and real-time monitoring for compliance and forensic analysis
• Geo-Fencing & Access Controls: Location-based restrictions and role-based access

Strategic Partnerships

• Dfns Integration: IBM leverages Dfns’ MPC wallet infrastructure with 15M+ wallets deployed
• Enterprise Pilots: Early adopters include central banks, sovereign wealth funds, and tier-1 institutions
• Tokenization Ecosystem: Supports CBDCs, tokenized bonds, and real-world asset custody

Use Cases

• Bitcoin Custody: Secure storage and transfer for institutional BTC portfolios
• Tokenized Payments: Programmable payments using stablecoins and tokenized fiat
• Cross-Chain Settlement: Asset movement across Ethereum, Polygon, Avalanche, and private chains

Strategic Implications

• IBM’s Reentry into Blockchain: A shift from earlier experimental efforts to regulated infrastructure
• Competitive Positioning: Competes with Fireblocks, Anchorage, and BitGo in institutional custody
• Future Expansion: Plans to add AI-driven risk scoring and predictive compliance analytics by mid-2026

India Blocks ₹2,385 Crore in Crypto Linked to Forex Scam

India’s Enforcement Directorate (ED) has provisionally attached ₹2,385 crore (~$271 million) in cryptocurrency assets under the Prevention of Money Laundering Act (PMLA), 2002. This sweeping action is part of a broader crackdown on illegal foreign exchange trading and digital asset misuse.

• Target: OctaFX Scam
  The crypto freeze is linked to the OctaFX forex trading platform, which allegedly defrauded Indian investors of ₹1,875 crore between June 2022 and April 2023. The platform reportedly operated from 2019 to 2024, generating illicit profits of up to ₹5,000 crore, much of which was routed overseas.
• Global Dragnet
  Spanish authorities arrested Pavel Prozorov, the alleged mastermind behind OctaFX, in coordination with Indian investigators. The ED’s Mumbai Zonal Office is leading the probe, which spans shell firms, offshore channels, and cross-border payment loops.
• Assets Seized
  
  • Crypto holdings worth ₹2,385 crore
  • Immovable properties and a luxury yacht previously attached
  • Total seized assets in the case now exceed ₹2,681 crore

This case signals India’s intensifying scrutiny of crypto-linked financial crimes and its resolve to regulate digital assets under existing anti-money laundering frameworks.

The first media outlet to report India’s ₹2,385 crore crypto freeze linked to the OctaFX forex scam was BreakingCrypto, publishing the story on October 17, 2025 at 4:54 PM EDT. Hindustan Times followed shortly after with its own coverage at 5:20 PM IST the same day.

Bitcoin Goes Mainstream: Morgan Stanley Tells Advisors to Buy In

Morgan Stanley has made a landmark move in the crypto space that could significantly reshape mainstream investment strategies.

In its latest guidance, the firm’s Global Investment Committee (GIC) recommended that financial advisors and clients maintain a 2%–4% Bitcoin allocation. According to the analysts, BTC is like digital gold, calling it “scarce.”

Here's the essence of their "huge" Bitcoin call:

Allocation Guidance

• Global Investment Committee (GIC) recommends a 2%–4% allocation to Bitcoin across client portfolios:
  • 2% for balanced growth
  • 3–4% for opportunistic or market-driven returns
• This guidance reaches 16,000 financial advisors managing $2 trillion in client assets.

Why It Matters

• Morgan Stanley views Bitcoin as “digital gold”—a scarce, long-term asset with diversification benefits.
• Institutional ownership of Bitcoin ETFs has climbed to 25% in H2 2025, up from 21.9% in Q1.
• Morgan Stanley holds $187 million in BlackRock’s iShares Bitcoin Trust (IBIT), ranking among the top five holders.

Potential Impact

• Bitwise CEO Hunter Horsley called the update “huge,” noting it could open the floodgates to $2 trillion in potential crypto exposure.
• Partnership with ZeroHash aims to bring crypto access to retail clients via E-Trade by 2026.
• ETF inflows have helped push Bitcoin to a new ATH of $125K, with further advisor-driven demand expected to amplify the rally.

Bitwise CEO Hunter Horsley called it “huge” and posted on X, saying - “GIC guides 16,000 advisors managing $2 trillion in savings and wealth for clients. We’re entering the mainstream era.”

Mr. Raj Karkara, COO, ZebPay, said “Bitcoin’s record-breaking surge past $125,000 marks a defining moment for the digital asset ecosystem, driven by sustained institutional inflows into spot ETFs, declining exchange reserves, and a pronounced macro shift toward the ‘debasement hedge’ narrative. This rally isn’t fueled by short-term momentum alone; it reflects a structural tightening of supply amid robust on-chain activity and renewed investor conviction. As liquidity migrates towards regulated venues and Bitcoin cements its place among the world’s most valuable assets, we’re witnessing a pivotal evolution in market maturity and capital efficiency within the crypto economy. These developments highlight not only Bitcoin’s resilience as a store of value but also the growing sophistication of participants navigating this dynamic landscape.”

Global Banks Invest $100 Bn in Blockchain & Digital Asset Infrastructure Since 2020

A joint study by Ripple, CB Insights, and the UK Centre for Blockchain Technologies titled Banking on Digital Assets reveals:

• Over $100 billion invested by traditional banks in blockchain infrastructure (2020–2024).
• 345 blockchain deals, including 33 mega-rounds over $100 million.
• Top investors: Citigroup, Goldman Sachs (18 deals each), JPMorgan Chase, Mitsubishi UFJ (15 deals each), SBI Group.

What Are Banks Investing In?

Focus Area	Details
Payment Infrastructure	Largest share of investments; modernizing cross-border payments
Digital Asset Custody	65% of banks exploring custody services
Tokenization of Real-World Assets	Stablecoins and tokenized bonds are top priorities
Settlement & Issuance Rails	25% of deals focused on blockchain-based settlement systems

• Examples: HSBC’s tokenized gold platform, Goldman Sachs’ GS DAP, SBI’s quantum-resistant currency.

Strategic Shift & Global Momentum

• 90% of finance leaders expect blockchain to have a “significant or massive” impact by 2028.
• Banks are pivoting from speculation to infrastructure to modernize legacy systems.
• Emerging markets like India, UAE, and Singapore are driving adoption.

What’s Next?

• Two-thirds of banks plan to launch digital asset initiatives within 3 years.
• Upcoming focus areas:
  • Tokenized bonds
  • CBDC settlement layers
  • Private stablecoin networks

India’s NFT Market Defies Global Downturn: Trends, Data, and Future Prospects

While the global NFT market faces declining valuations and lower user engagement, India’s NFT sector is defying the trend withsteady adoption across gaming, digital collectibles, and real-world applications.

A significant example of this is Indian Railways issuing NFT-based train tickets for the MahaKumbh Mela in January 2025. This marks a significant step in India's blockchain adoption, showcasing how NFTs can be used beyond collectibles and gaming.

Let’s explore how India’s NFT ecosystem is evolving while the global market struggles.

Global NFT Market: A Declining Trend

Over the past six months, the global NFT industry has seen a significant contraction, largely due to waning speculative interest and regulatory uncertainties.

Key Global NFT Market Data (Last 6 Months)

• Total NFT sales volume fell from $608.6 million in December 2024 to $468 million in May 2025, marking a 20% decline.
• Average revenue per user (ARPU) dropped from $162.10 in late 2024 to $59 in mid-2025.
• Ethereum-based NFT transactions decreased by 15%, with total sales reaching $142 million in May 2025.
• OpenSea’s trading volume shrank by 30%, showing reduced investor activity.

Reasons for the Global Decline

• Speculative Bubble Burst – Early investors were focused on flipping assets, but declining resale values have discouraged new buyers.
• Regulatory Pressures – Stricter regulations in the EU, China, and the U.S. have led to NFT marketplace restrictions, reducing liquidity.
• High Transaction Costs – Gas fees on Ethereum remain a key barrier, especially for smaller investors.
• Market Saturation – Oversupply of NFTs, particularly in the digital collectibles space, has diluted their perceived value.

India’s NFT Market: A Rising Trend

Despite the global downturn, India’s NFT market has remained resilient, showing consistent user engagement and adoption across various sectors.

Key Indian NFT Market Data (Last 6 Months)

• India’s NFT revenue is projected to reach $77.5 million in 2025, marking a 5% increase from late 2024.
• Active NFT users in India grew from 1.32 million in December 2024 to 1.45 million in May 2025.
• Gaming NFTs saw a 12% increase in adoption, particularly within fantasy sports and play-to-earn models.
• Bollywood and cricket NFTs continue to drive engagement, with celebrity-backed collections gaining traction.

Indian Railways’ NFT Ticketing Initiative

A notable development in India’s NFT space was the issuance of blockchain-based train tickets for the MahaKumbh Mela. In January 2025, Indian Railways partnered with Chaincode Consulting to mint tickets as NFTs on the Polygon blockchain.

Why This Is Significant:

• Enhances transparency – Blockchain-based tickets ensure authenticity and prevent fraudulent resale.
• Scalability – Polygon’s low-cost transactions make NFTs viable for large-scale public use.
• Real-World Use Case – Moves NFTs beyond collectibles into practical applications like transport and identity verification.

Why India’s NFT Market Is Growing While the Global Market Declines

India’s NFT sector thrives due to utility-driven adoption rather than speculation.

Factors Driving Growth:

• Practical Use Cases – NFTs are integrated into gaming, ticketing, digital identity, and asset tokenization, making them more relevant.
• Lower Entry Barriers – Indian platforms offer affordable minting and trading, catering to a wider audience.
• Gaming and Metaverse Expansion – India’s blockchain gaming sector is booming, with fantasy sports and play-to-earn models driving NFT adoption.
• Regulatory Flexibility – India’s wait-and-watch approach enables innovation, whereas global markets face heavy restrictions.
• Cultural Integration – Bollywood, cricket, and regional creators are expanding the NFT ecosystem beyond traditional tech users.

Conclusion

India’s NFT market is defying global trends by emphasizing utility, affordability, and cultural relevance. While the global market struggles with regulatory hurdles and declining investor interest, India is seeing steady adoption driven by gaming, real-world applications, and innovative blockchain initiatives like NFT ticketing.

All About Trump's New US 'Bitcoin Reserve' To Strengthen Digital Asset Holdings

The Strategic Bitcoin Reserve and United States Digital Asset Stockpile was established through Executive Order 14233 signed by President Donald J. Trump on March 6, 2025. This initiative aims to position the United States as a leader in government digital asset strategy, ensuring Bitcoin and other digital assets are managed strategically. 

The simplified explanation of the new "Strategic Bitcoin Reserve and Digital Asset Stockpile" is — the U.S. government has decided to keep Bitcoin (BTC) in a special reserve, instead of selling it whenever it gets Bitcoin through legal processes (like when criminals' Bitcoin is seized). This is because Bitcoin is valuable, like gold, and the government wants to hold onto it for the future.

At the same time, the U.S. is also managing a Digital Asset Stockpile-which means the government is collecting other digital currencies that are taken from illegal activities. But these non-Bitcoin assets might be sold or used differently, depending on the government's plans.

The goal of these reserves is to make sure the U.S. strategically manages digital assets, instead of just selling them quickly. It helps the government stay prepared financially as digital currencies become more important.
This initiative centralizes the US government’s digital asset holdings, ensuring strategic management and long-term value preservation.

Here’s a deeper look into the Strategic Bitcoin Reserve and United States Digital Asset Stockpile, based on official sources:

Strategic Bitcoin Reserve

The U.S. Treasury will maintain Bitcoin (BTC) holdings as reserve assets, ensuring they are not sold but instead used to meet governmental objectives.

• Agencies holding forfeited Bitcoin must transfer them to the Strategic Bitcoin Reserve, consolidating BTC holdings under a single custodial framework.
• The Secretary of the Treasury and Secretary of Commerce are authorized to develop budget-neutral strategies for acquiring additional BTC, ensuring no incremental costs for taxpayers.

United States Digital Asset Stockpile

This stockpile includes non-BTC digital assets forfeited through criminal or civil asset forfeiture proceedings.

Unlike the Bitcoin Reserve, the Treasury retains discretion over how these assets are managed, allowing for strategic liquidation or retention.

The Stockpile does not acquire new assets beyond those obtained through forfeiture, ensuring a controlled approach to digital asset management.

Policy and Implementation

The Executive Order 14233 establishes these reserves to strategically manage federally owned digital assets.

The initiative aligns with the January 23 Executive Order, which directed the President’s Working Group on Digital Asset Markets to evaluate the feasibility of a national digital asset stockpile.

The Treasury Department will oversee custodial accounts, ensuring proper tracking and utilization of digital assets.

Secretary of the Treasury will oversees the Strategic Bitcoin Reserve and Digital Asset Stockpile, ensuring proper custodial management. Secretary of Commerce will work alongside the Treasury to develop budget-neutral strategies for acquiring additional Bitcoin.

Key Synopsis:

• Strategic Bitcoin Reserve: The U.S. government will maintain Bitcoin (BTC) holdings as reserve assets rather than selling them, recognizing Bitcoin’s scarcity and security as a unique store of value.
• United States Digital Asset Stockpile: This stockpile will include other digital assets forfeited through criminal or civil asset forfeiture proceedings, ensuring orderly and strategic management.
• Treasury Oversight: The Secretary of the Treasury will oversee custodial accounts for both reserves, ensuring proper tracking and utilization.
• Government BTC Policy: Agencies holding forfeited Bitcoin will transfer them to the Strategic Bitcoin Reserve, preventing premature sales that could negatively impact taxpayers.

This move reflects a shift in U.S. policy toward digital assets, recognizing their role in global financial stability.

Flipkart To Use Polygon's Blockchain for Brand Engagement Experience for Millions of Indian Users

• FireDrops, which is accessible via Flipkart, is a web3 brand engagement program built on Polygon’s Proof-of-Stake (PoS) to offer users a more transparent, secure, and personalized engagement experience
• Powered by GuardianLink, FireDrops utilizes Fireblocks’ wallet-as-a-service offering and embeds web3 wallets, providing a more user-friendly and integrated experience
• To date, Fireblocks has created 3.6 million web3 wallets for Flipkart users

Flipkart, India’s homegrown e-commerce marketplace, has announced its partnership with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain. The strategic collaboration aims to revolutionize the way consumers safely and easily interact with the Web 3.0 ecosystem. This collaboration will also provide avenues for brands to innovate and enhance customer experiences, as being explored via the FireDrops platform.

FireDrops is an endeavor to create a safe and scalable brand engagement program on the blockchain, where wallets seamlessly spun by Fireblocks allow users to easily interact with web3. Fireblocks has set up 3.6 million wallets for Flipkart users, with a majority of them created in the past few months. Flipkart’s collaboration with Fireblocks is a testament to its commitment in enabling innovation in the Indian e-commerce industry. Flipkart has over 500 million users with more than 150 million products across 80 categories.

“India is fast emerging as the global hub for innovation in web3,” said Ravi Krishnan, Head of Flipkart Labs. “As we look ahead at how the new generation engages with brands, they seek a more personalized and interactive experience, and brands realize they can no longer apply broad strategies across audience segments. In this context, digital assets and web3 have become essential tools to engage with customers effectively. Fireblocks' role is crucial in safeguarding these assets, enabling us to develop and scale. FireDrops, one of the web3 offerings, is among many that we are excited about. In the next decade, web3 will be transformative for the e-commerce space, and India and Flipkart are the perfect sandbox for how digital assets may blur the lines between gamification and retail experiences.”

“We are excited to collaborate with Flipkart to provide them with a resilient, enterprise-grade platform upon which they are building their technology solutions, so they can enhance the shopping experience for users and redefine e-commerce,” said Stephen Richardson, Head of APAC & Managing Director, Financial Markets at Fireblocks. “Through FireDrops, a familiar user experience has been created for millions of Indians interested in collecting their first NFT, making digital ownership more accessible and lowering the barrier to entry into the world of web3.”

Fireblocks' Wallets-as-a-Service allows Flipkart to embed privacy preserving blockchain wallets directly into their mobile application, providing users with seamless onboarding into their first time web3 experience. With Fireblocks, Flipkart can automate and scale wallets and enable NFT creation to support millions of new users on FireDrops.

FireDrops is aiming to revolutionize how users connect with brands while shopping online. By providing engaging experiences with brands that enable customers to earn NFT-based rewards, FireDrops aims to foster greater community engagement and an enhanced user experience. Brands in the FireDrops ecosystem are also anticipating the benefit from deeper, more meaningful, and more tailored interactions with their customers, resulting in higher reward redemption rates and a reduction in customer acquisition costs.

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.

Started in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered user base of more than 500 million, Flipkart's marketplace offers over 150 million products across 80+ categories. Today, there are over 14 lakh sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has created lakhs of jobs in the ecosystem while empowering generations of entrepreneurs and MSMEs. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI, and easy returns, which are customer-centric innovations that have made online shopping more accessible and affordable for millions of Indians.

Fireblocks is an enterprise-grade platform that delivers a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.

Thomson Reuters Makes 2nd Tech Acquisition in A Week, Buys Imagen – A Digital Content Management Co.

In an ongoing Artifical Intelligence (AI) wave, Thomson Reuters has announced today that it has signed a definitive agreement to acquire Imagen Ltd., a cloud-native media asset management company, for an undisclosed amount. This is second tech acquisition announced by Thomson Reuters since start of this week.

London based Imagen, which claims to have world’s smartest video management platform, operates digital content libraries for sports, media and business companies including Premier League soccer and Major League Baseball. Imagen uses AI-powered workflows to automatically improve searchability and utility of media assets. Its video management platform is integrated with AI Services from Google and Microsoft.

Imagen also owns Screenocean, a platform that provides production companies and others the ability to license video and photo content from around the world.

Post acquisition, Imagen will be operated as part of the Reuters News division of Thomson Reuters. Reuters is the leading global provider of business, financial and world news, reaching billions of people worldwide every day.

Established in 1996 by Anthony Blake and Paul McConkey, Imagen became available as a SaaS platform for the first time in 2013. Later in January 2019 Imagen completed a £6.5 million Series B funding round which was led by Downing Ventures. The round also included capital from Guinness Asset Management Ltd and existing investor. 

Imagen is the the second acquisition announced by Thomson Reuters in this week. Earlier on Monday, the company announced acquisition of AI powered legal-tech company, Casetext, in a $650 million all-cash deal. Casetext is a California-based AI company that helps legal professionals conduct research, analysis and prepare documents using generative AI.

Notably, Thomson Reuters has planned to spend $10 billion for acquisitions and about $100 million per year in AI investments, with its recently announced corporate venture capital fund — Thomson Reuters Ventures, through thid the firm aims to leverage its expertise and support the broader ecosystem by investing in early-stage companies operating in these sectors.nvestments in AI capabilities.

CASHe Launches An Industry-first Digital Gold Program; GOLDe Rewards

The GOLDe Rewards program is eligible for customers availing loans with repayment tenures of 3,6,9 and 12 months

Starting December 28, 2022 to January 2, 2023, the launch program offers users GOLDe reward points up to 5% of the loan amount availed from CASHe. Thereafter, the rewards points will be equivalent to 1% of the loan amount. 

Up to Rs 40 crores worth of GOLDe reward points will be deposited to over 25 million users of CASHe

CASHe, India’s leading credit-led, AI-driven financial wellness platform announced that it has launched GOLDe Rewards, an innovative and industry-first rewards program backed by digital gold for prospective borrowers as well as the millions of users on its platform. The GOLDe rewards program incentivises every user with GOLDe Rewards in the form of digital gold coins equivalent to 1% of every loan transaction, deposited in a gold jar made available to them on the CASHe app. However, as part of the new year promotional launch offer, the company stated a user will be entitled to earn GOLDe Rewards up to 5% of the loan amount availed from CASHe. The promotional launch offer starts December 28, 2022 and ends January 2, 2023.

Customers availing loans with tenures having 3,6,9 and 12 months will be eligible to avail the GOLDe Rewards program from CASHe. The company further stated that it will deposit GOLDe rewards worth 40 crores to over 25 million of its users as part of its grand new year launch. Each GOLDe reward point earned by the users is equivalent to Re 1 worth of digital gold on the CASHe app. The GOLDe reward points accumulated by the users can be converted to digital gold and then can be redeemed as cash to buy movie tickets, dine at a restaurant, or even deposit in their bank account. The digital gold stored in the gold jar is powered by Augmont, and provides users with a safe, easy, and reliable method of buying, selling and redeeming 24k digital gold with 99.99 percent purity.

Commenting on the launch of GOLDe Rewards, Mr. Yashoraj Tyagi, Chief Technology Officer & Chief Business Officer at CASHe said, “Innovation is the key to all that we do at CASHe. Our customers have always motivated us to keep innovating to deliver an outstanding customer experience. We firmly believe that with the launch of this industry-first gold rewards program, our relationship with our customers will go beyond the traditional transactional mode and help us provide more value to them. The GOLDe rewards program paves the way to deeper engagement with our existing user base as well as attracting millions of new set of customers to the platform. The rewards program was launched with the millennials and GenZs in mind who are increasingly tapping into the digital gold space as the demand and interest in this commodity is on the rise. Gold is a powerful wealth protector and creator, and we've now made it accessible to millions of users to earn rewards points in the form of digital gold right on the CASHe platform,” he added.

India has one of the world’s largest millennial population, roughly accounting for 34% (440 million) of the total population. As a result of increased digitalization, millennial investors have shown an affinity towards new-age investments such as digital gold as it is instant, convenient, economical, and 100% safe. Digital gold as an investment option is gaining huge traction not only from the top metros but also from tier 2 and 3 cities.

About CASHe:

Headquartered in Mumbai, CASHe is one of India’s leading AI-based, credit-led financial wellness platform focused on making financial inclusion possible by serving the underserved digital customers in India. The company is driven by its laser focus to unlock opportunities for the millennial and Gen Z population by making financial inclusion and accessibility possible using its cutting-edge algorithms and AI and ML-based credit decisioning model called the Social Loan Quotient (SLQ). Since its launch in 2016, CASHe has registered over 25 million app downloads on the app store and has disbursed loans worth Rs 6,000 crores to over 5 lakh customers. Its affordable interest rates, instant processing, and flexible repayment options make it India’s most preferred digital credit platform. Over the past year, CASHe has constantly introduced new product offerings and services in line with increasing consumer demands and has successfully transformed itself into a full-fledged financial services platform that offers its customers credit, investment, insurance, and EMI shopping.

Holistic Web3 Digital Assets Platform Mint Valley Launched for NFT Enthusiasts in the Middle East

NFT Minting made Easy with Mint Valley, powered by MOI

Launched for NFT enthusiasts in the Middle East at the Dubai Design Week 2022

Mint Valley, a holistic web3 Digital assets platform, was launched in UAE on the sidelines of the Dubai Design Week 2022 held from November 8 to November 12. Mint Valley is powered by MOI (My Own Internet), the world’s first context-aware p2p network enabling sustainability, scalability, and personalization in the Metaverse. In collaboration with their Middle East partner MetaDecrypt, Mint Valley also presented the participants at the Design Week with Proof of Attendance tokens and personalized NFT certificates.

Mint Valley is a personalized ecosystem for artists, creators, technologists to create, list, sell, and share digital assets. A holistic NFT and Metaverse platform, Mint Valley allows users to create, customize, and sell Digital with no transaction fees, easy wallet access, and a simple and fast user experience. The platform supports buying and selling of Digital Assets completely in fiat currencies in a regulatory friendly manner.

NFTs have become significantly popular among art lovers and investors in recent years. As per the Dapp Radar report, NFT sales volumes totaled roughly $24.9 billion in 2021 which was a tremendous rise from roughly $94.9 million in 2020. With the considerable increase in usage, Mint Valley provides a platform for smooth execution of minting and trading digital assets while keeping the user experience simple and easy to navigate.

Mint Valley is built on top of MOI (My Own Internet), a decentralized global web3 network that supports humanized interactions on the internet enabling true P2P value transfers and personalized digital interactions. It is a user-centric personalization protocol for the emerging digitally interacting world . With MOI, billions of transactions can be sustainably and securely executed across millions of nodes.

“We are delighted to have Mint Valley, a one stop destination for listing, selling, and sharing of digital assets, as part of the MOI eco-system. Through this product, users will get personalized experience at lightning fast speed with absolutely zero transaction cost in all of their interactions on the platform. The process for minting NFTs varies a lot depending on the platform. All one needs is a distinctive digital asset, a non-custodial hot wallet, and a renowned and trusted NFT marketplace and Mint Valley is the primary solution to that.” - Anantha Krishnan, CEO, Sarva Labs

About Mint Valley:

Powered by MOI, Mint Valley is a personalized ecosystem for artists, creators, technologists to create, list, sell, and share digital assets. A holistic NFT platform, Mint Valley allows users to create, customize, and sell NFTs with no transaction fees, easy wallet access, and a simple and fast user experience.

For more, visit: https://mintvalley.ai/

About My Own Internet (MOI):

MOI, the primary offering of Sarva Labs, is a decentralized global web3 network that supports humanized interactions on the internet enabling true P2P value transfers and personalized digital interactions. MOI is built using Interaction State Machine (ISM), a revolutionary new computational model created by Sarva Labs for the web3 world. Using the ISM technology, MOI delivers a simple, secure, and sustainable web3 experience for users by enabling a single web3 network capable of hosting millions of nodes to support billions of transactions with complete user privacy, ownership and control. With a practical and equitable governance model, the value generation in MOI is democratic, while offering flexibility to support the regulatory norms of respective environments.

For more, visit: https://moi.technology/

About Sarva Labs:

Sarva Labs is a DeepTech web3 startup focused on simplifying digital interactions by developing user-centric technologies in blockchain and AI. Sarva ‘s vision is to help build an equitable, sustainable, and happy digital society and is doing foundational research to create new computational models, design methodologies, and governance frameworks to make the emerging web3 ecosystem practical, personalized and useful.


For more, visit: https://www.sarva.ai/

Digital Gold Platform SafeGold’s Partnership With Jar Enabled Investments to Rise From 36 to 170K Per Day

SafeGold, a leading Asian digital platform accelerating the digital gold ecosystem in India, post its partnership with Jar, a daily gold savings app that lets you save money has boosted the daily transactions by about 99%. In April-May 2021, the average number of transactions per day on the app was 36, which then picked up significantly to 24k by November 2021, and is now averaging over 170k transactions per day.

India has a population of 130 crores out of which 9 crore people have a Demat account. However, only 3 crore people have made an investment above 10,000 rupees. This data clearly suggests that the investment market has created an echo chamber wherein a minor section of the society actually invests. In this sense, the term affordability is closed off for only the top layer of the educated segment. This has created a huge gap between rupee-earned and invested, especially in terms of the time taken for the average new investor to start saving.

Gold, as a commodity, has always been regarded with high respect, especially as an asset. However, it was always bought as jewellery for consumption. Bars and coins have increased their share in annual consumer demand from less than 15% to nearly 25%. Clearly, Indians are increasingly looking at gold as an investment rather than just for consumption. With players like Jar and SafeGold coming up, they are accelerating the adoption of alternative investment options outside of the traditional discourse.

Gaurav Mathur, Founder & MD, SafeGold, said “India is a nation filled with possibilities and potential. There is a need for startups with a creative outlook to bridge this gap. As SafeGold, we are making strides towards enabling digital-first investors who are interested in alternative investment commodities”.

Nishchay Ag, Co-Founder & CEO at Jar, said “When it comes to making smart financial investments, most Indians do have the inclination but lack the information on the right catalyst that will help mobilise their resources in the best way possible. Our partnership with SafeGold has helped our universe of customers to invest without any hassle. With this, we hope to inculcate smart investment habits for our new age-digital-first investors at low friction entry points”.

NFTs of Miss Universe Crown To Be Released By Int'l Luxury Jewelry House Mouawad

Image Credit - mouawad.com

International luxury jewelry house Mouawad today announced its partnership with Icecap, a world leader in creating NFTs for investment-grade diamonds to offer fractionalized ownership of the Mouawad-created Miss Universe crown via non-fungible tokens.

The Miss Universe Power of Unity Crown, which was originally worn by 2019 Miss Universe winner Zozibini Tunzi of South Africa, and then by 2020 Miss Universe Andrea Meza of Mexico, is currently worn by 2021 Miss Universe Harnaaz Sandhu.

For the first time ever, the unique and storied icon will be offered to fans of the pageant via NFT technology, who have a chance to become part of Miss Universe history themselves.  

“As our world moves increasingly towards digitalization, things become possible that would have been difficult to grasp less than a generation ago,” commented Jacques Voorhees, Icecap’s founder, and CEO.   “NFTs provide not merely immutable proof of ownership of an object, but they can also allow the holder to unlock digital content associated with that object—in this case about the pageant, the contestants, the contestant stories, and the crown itself.”

"Miss Universe is one of the most glamorous and popular competitions in the world today,” noted Pascal Mouawad, Co-Guardian of the prominent jewelry house headquartered in Dubai.  “It is inspiring to have an event that extends the human ideals of strength, unity, intelligence, and perseverance.  The crown itself represents the powerful message of these values and is one of the most extraordinary pieces of jewelry in the world.”

When and if the Power of Unity crown is ever retired, it will either be placed in a museum and the tokens will be allowed to trade indefinitely, or the token owners can vote to sell the crown, at auction.

“As we’ll be using the technology of fractionalized NFTs for this project,” explained Voorhees, “the smart contract underlying the tokens will allow a majority to essentially ‘vote’ on what will happen to the crown if it is ever retired from the pageant.  If the crown is sold the proceeds will flow automatically to the NFT holders at that time.”

“We’re thrilled fans will get the chance to own a piece of our history,” said Paula M. Shugart, Miss Universe Organization President.  “The Miss Universe Organization is proud to partner with Icecap and Mouawad for this exciting opportunity and a new way to engage with fans and reach a greater audience.”

The fractionalized ownership of the crown will be based on Ethereum blockchain non-fungible tokens, which—via “smart contract” technology—contain their own terms, conditions, and trading components. The fractionalized NFTs are expected to be issued in the second half of 2022, on select crypto-trading platforms, with the initial value set by an expert appraiser. Once floated, the tokens' value will then be determined by supply and demand.

“We’re very pleased the Miss Universe Power of Unity Crown tokenization project is being based out of Dubai,” noted Dr. Marwan Alroui, CEO of the Dubai Blockchain Center, and one of the most impactful people in the blockchain industry.  “Dubai is already a blockchain hub and has also become one of the world’s primary diamond trading centers.  This connection with the Miss Universe competition we expect will help focus attention on Dubai’s increasing role in these industries.”

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An Artist Creates NFTs for Every Person in the World as an Experiment

Image - Dadara@Twitter

A Bold Plan to Mint One NFT for Every Person in the World

Dutch Artist Dadara and NFT Platform RAIRTech Mint 7.9 Billion Identical CryptoGreyman NFTs to Provide Immutable Blockchain Identity

A social experiment concocted by Dutch artist Dadara and NFT digital rights management platform RAIRtech has resulted in the creation of 7.9 billion digitally identical NFTs of CryptoGreyman. 

While physically, the NFTs all look the same, each carries its own serial number - a commentary on the way in which people are viewed in the centralized corporate world; generalized to numbers.

In a sea of NFTs that artificially create scarcity by imposing ‘rare’ traits, limited collections, and exclusive communities, the identical CryptoGreyman NFTs - available for purchase for 1 MATIC (~$2 USD) - seek to be the opposite.

"I see this as a dead serious prank, which can rattle the cage of consensual reality and elevate conversation. It’s an experiment with an unpredictable outcome," said artist Dadara. "No one specific NFT is better than another, and because the minting price is widely accessible it will be interesting to see what value each individual CryptoGreyman holder brings."

Greyman

The NFTs feature the Greyman character, originally created by Dadara in the 1990s, but have been given a pixelated, web3 makeover. The NFT’s only unique characteristic is the serial number, which is given out in sequential minted order. The project is a commentary on the way that government and corporate society have stripped people of their individuality, often reducing them to numbers and statistics, which is paralleled by the unrelenting pressure that social media has put on people to be radically unique. 

By launching CryptoGreyman, Dadara hopes to raise conversation on the potential in the decentralized Web3 space to create a more honest form of individuality, by putting the users first.

“This year this whole NFT “status symbol” idea has really developed, to the point where people will spend hundreds of thousands of dollars on a Bored Ape NFT or other PFP projects and will use that piece of digital uniqueness as what defines them. This project is more democratized, the barrier for entry is intentionally low,” said Garrett Minks, CTO of RAIRtech. “When a person purchases a CryptoGreyman, that attached serial number is theirs. That number, if they chose to keep it, will be theirs until the end of time, or the blockchain ceases to exist.”

This project is not only a statement piece, it also brings real-world benefits to refugees. The project has teamed up with non-profit Movement on the Ground, an organization that seeks to dignify refugee reception across the globe. RAIRtech is placing 2,222 of the most coveted numbered NFTs in a treasury. Movement on the Ground will disperse those reserves as part of an educational program that teaches refugees how to set up a wallet and sell their NFTs, enabling the start of their new lives with a wallet that can travel with them anywhere.

The cause was chosen because one of the largest issues that refugees face is the struggle to obtain proper forms of identification needed to seek refuge. Often refugees and asylum seekers are seen by countries and governments not as people who have fled unimaginable situations not of their own making, but rather as piling paperwork on a desk.

ABOUT RAIRtech

RAIRtech (https://rair.tech/) Is a blockchain-based, distributed digital rights management platform that enables streaming NFTs. Currently the NFT marketplace supports public-facing images whose ownership is proven on the blockchain. With RAIR you are able to take this same NFT and attach a video, song, document or data to it. RAIR uses a decentralized key management node system to allow anyone to create NFTs that are tied to the underlying content, while also providing NFT minting, royalties & metadata management. With RAIR, creators can turn any type of media into an encrypted, access-controlled file that is accessible on any type of browser, making any digital file scarce and therefore valuable.

NFT Marketplace LTD.INC Partners With Wrangler to Launch NFTs

The brands will be partnering with Grammy-winner Leon Bridges, Wrangler’s 2022 global mens' ambassador, to launch a collection that will blur the lines between fashion, entertainment and technology.

NFT marketplace LTD.INC today announced its first fashion campaign “Mr Wrangler” in partnership with denim brand Wrangler and Grammy award-winning recording artist Leon Bridges, wherein Wrangler will launch 75 digital-only NFTs, crafted around a rare denim suit made exclusively for the singer-songwriter.

A second drop will feature the first-of-its-kind physical replica + digital NFT of the suit, to be unveiled at a private New York Fashion Week event in September.

“We are honored to partner with Wrangler and Leon Bridges to launch the “Mr. Wrangler” NFT Collection for the brand’s 75th Anniversary. The collection represents a first of its kind NFT class that crosses the physical, digital and virtual worlds,” said Daryl Kelly, CEO of LTD.INC.
“Over the last year, we have been forging partnerships with well-established artists, brands and creators to help them step into space and craft thoughtful NFT collections that bridge the gap between the physical and virtual economies, allowing them to connect with their audiences in new and exciting ways.”

In addition to owning the art, each "Icon" NFT gives collectors access to digital communities, a virtual Metaverse wearable and one VIP pass to a by-invitation-only, private performance by Leon Bridges at New York Fashion Week in September 2022.

“This journey began when Leon Bridges reached out for a custom heritage denim suit from Wrangler,” said Sean Gormley, Global Creative Concept Director at Wrangler. “Exciting innovation is happening at the intersection where the physical meets the digital and where craftmanship meets technology. Wrangler rides into a digital renaissance with an authentic expression about the past and the future.

“Fashion, technology and music influence us all, and I love the way Wrangler is interconnecting all three on this wild ride,” said Bridges. “Through Wrangler, I channel my Texas roots and the essence of who I am, so I’m honored to help the brand celebrate its history while continuing to write the future.”

LTD.INC is collaborating with Offsetra, an organization who supports businesses in achieving their net zero ambitions, to ensure the “Mr. Wrangler” collection is a completely carbon-negative project.

Cricket Star Aaron Finch Launches His Own NFT With Rario

Australian Cricketing Megastar Aaron Finch signs Cricket NFT pact with Rario

Finch joins other cricketing megastars who are already part of Rario’s Cricket NFT Marketplace to usher in a new era of cricket fandom.

Founded by Ankit Wadhwa and Sunny Bhanot, Rario is the world’s first digital collectibles platform for cricket fans.

Rario, the world's first officially licensed cricket digital collectibles platform today announced that Australian white-ball captain, Aaron Finch is the latest on the growing list of cricketing superstars to have signed an exclusive contract with them. Aaron joins the likes of Virender Sehwag, Zaheer Khan, Smriti Mandhana, Rishabh Pant, Rashid Khan, Jason Holder, Quinton De Kock, M Siraj, Ruturaj Gaikwad, Shafali Verma as player partners of the platform. Through this association, Aaron’s NFTs will be available exclusively on Rario.

A leading run getter in T20 internationals for Australia, Aaron Finch has twice held the record for the highest score in the format, his career-best 172, made against Zimbabwe in 2018, surpassing his 156 that he took off England in 2013 - an innings that included 14 sixes. With a successful T20 track record, he has also represented Yorkshire and Surrey in England. He has been a mainstay of the Melbourne Renegades side since the inception of the BBL and captained the Renegades to their first BBL title in 2019.

 

Aaron Finch

Speaking on the association, Aaron Finch said, “As a sportsperson, playing with pride and passion for our nation, franchises and clubs are all special. There are many memorable moments on the cricket field that leave long lasting impressions on us as well as fans. I am delighted to announce my exclusive partnership with the Rario cricket Metaverse, where you can own my NFTs and relive these moments with me!”

Rario Co-Founder and CEO Ankit Wadhwa said, “Aaron is the captain of the Australian limited-overs team and has led them to their maiden T20 World Cup victory. He is a cricketing superstar who has provided us with some unforgettable moments in cricket in recent years. He is a deserving and invaluable addition to our growing roster of ambassadors at Rario and I am looking forward to having him as part of my own team in the Rario cricket metaverse."

About Rario - World’s first Officially Licensed Cricket NFT Platform

Rario is a digital collectibles platform for cricket fans to collect and trade officially licensed cricket NFTs (Non-fungible Tokens) on the blockchain. Having Polygon Studios and Animoca as partners, Rario NFTs are minted on Polygon and led by a top-notch team of Indian founders. The company is backed by reputed investors such as Kingsway Capital and Presight Capital and the brand enables fans to engage as a community and invest in tangible sporting moments. It gives the fan the opportunity to ‘own’ a piece of their heroes’ fandom and sport history.

Rario has officially partnered with several international cricket leagues such as the Hero Caribbean Premier League, Lanka Premier League, Abu Dhabi T10 League and Legends League Cricket. Rario has also exclusively partnered with renowned internationally acclaimed cricket talent such as Virender Sehwag, Zaheer Khan, Rishabh Pant, Smriti Mandhana, Faf Du Plessis, Rashid Khan, Shakib Al Hasan, Quinton De Kock, Jason Holder, Shafali Verma, Prithvi Shaw, Ruturaj Gaikwad, Venkatesh Iyer, Ishant Sharma, Mohammad Siraj, Dinesh Karthik and many more.

Popular NFT Marketplace that Sold Jack Dorsey's First Tweet Shuts Down All NFT Sales Citing Counterfeiting Activities

Popular NFT marketplace, Cent, which is one of the first marketplaces to allow people to sell tweets as NFTs, has suspended almost all of its activity citing counterfeiting problems. Cent is also known as the marketplace where Twitter CEO Jack Dorsey sold his very first tweet in the form of an NFT.

As first reported by Reuters, the NFT marketplace Cent has had to shut down almost all sales because, as Cent's CEO Cameron Hejazi admitted, “there’s a spectrum of activity that is happening that basically shouldn’t be happening — like, legally.”

There are three major problems that Cameron highlighted -  1) people selling unauthorised copies of other NFTs, 2) People making NFTs of content which does not belong to them, 3) people selling sets of NFTs which resemble a security.

Although, the part of Cent marketplace focused on selling NFTs of tweets, which is called "Valuables" is still active, the marketplace of Cent -- "beta.cent.co" -- has paused NFT sales.

Further, in a community update, Cent CEO Cameron said - "Recently, on our network, we’ve seen people taking others’ work and re-minting it using our services. We believe these people are bad actors, who only engage with Cent for the purpose of tricking others into purchasing counterfeit work. We do not condone this behavior – ethically, legally, and philosophically, it goes against our values and what we stand for as a company."

The suspension of selling NFTs is a temporary step till the marketplace figure out a sustainable solution to counterfeiting and rollout a strategy to overcome the challenges. In the community update, Cameron also discussed strategies that other NFT selling services - OpenSea and Nifty Gateway,  as how these NFT marketplace restrict bad users from minting fake NFTs.

Notably, Cent launched "NFT minting" last year as an experiment of its goal of creative income. 
Cent provided this functionality at no cost to its community, reducing the hurdles to minting and hopefully inviting more people into its ecosystem.

NFT minting is the process of converting a digital file to a crypto collectible. It is impossible to delete, edit or modify the digital item or file stored on a blockchain. The process of uploading an item to the blockchain, similar to the creation of fiat coins, is called “minting.”

UAE's Most Secure Digital Asset Exchange Bitex Enters India

Announces launch of Bitex Academy to create awareness about cryptocurrencies

 

Mumbai, November 10, 2020: Bitex, the UAE's most secure digital asset exchange, has made its India foray with the launch of its fully-regulated cryptocurrency wallet and professional trading platform. The company, established in 2018, has its headquarters in Mumbai.

Bitex will offer the platform to the Indian trading community for buying and selling digital assets such as Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, XRP and more. The trading platform is compliant with anti-money laundering (AML) and know your customer (KYC) policies.

Bitex's entry comes at a time when several domestic and foreign players commenced operations in India after the Supreme Court reversed the ban on cryptocurrency trade in March 2020. The Indian cryptocurrency market is estimated at $12.9 billion.

Bitex Founder and CEO Monark Modi said, "The Supreme Court ruling in favour of cryptocurrency has been pivotal in reinvigorating the latent demand for the digital asset in India. The Indian crypto trading community has been showing a growing interest in cryptocurrencies ever since traditional investment options have seen marked fluctuations in returns. As the UAE's most secure and popular digital asset exchange, Bitex will enhance both safety in transactions and innovation in the Indian cryptocurrency marketplace."

 

With a matching engine that allows up to 1 million transactions per second, Bitex will provide faster order execution, enhance the exchange platform's capabilities for quick and real-time trading, and support multiple orders seamlessly.

 

Modi believes that market-specific innovation, fully-compliant AML and KYC, a multi-signature wallet, and instant deposit and withdrawal facilities will give Bitex an edge over existing players in the Indian cryptocurrency market. 

 

"We have always supported a positive business environment and believe India is moving towards new and emerging sectors despite uncertainties in current times. With good regulation, India has a huge potential to scale cryptocurrency as a digital asset and also expand the use of blockchain in financial payments," he added.

 

Bitex is also launching an investor and trader awareness initiative – Bitex Academy – to create awareness and educate people about blockchain and cryptocurrencies.

 

In last two years of operations in the UAE, Bitex has led many innovations attuning itself closely with the geographical market sensitivities. The company launched cash trading for cryptocurrency traders in view of high dependence on cash among the UAE's trading community.

 

Bitex has partnered Trackwizz, a leading AML screen and transaction monitoring solutions provider with a clientele that includes ICICI Securities, HDFC Securities, Zerodha, Bajaj Finserv and NSE among others.

 

Bitex provides professional traders with a secure and an advanced platform for long-term investment in digital assets with charting tools, order books and one-click trade option. In addition to the trading platform, Bitex is also a cryptocurrency wallet that allows third-party transactions. The platform allows users to place Spot-and-Limit orders on all available trading pairs. Users can also customise charts to meet their trading needs while using the pre-existing 10+ indicators.

 

 

About Bitex

Founded in 2018, Bitex is a digital currency exchange and a professional trading platform. Bitex started its operations in the United Arab Emirates and is now expanding its operations overseas starting with India.

 

Based on website and mobile application, Bitex provides a platform to invest in digital assets, along with advanced platform with charting tools, order books and one-click trade option.

 

Bitex is also a leading cryptocurrency wallet, which allows you to send and receive digital assets to third party wallets. The derivatives platforms offers a quarterly futures trading contract and margin trading. It also has a matching engine that can handle up to 1 million transactions per second.

 

Bitex is a fully regulated and compliant financial exchange. Bitex values customer data and protection to its core and follows a stringent Anti-money laundering (AML) and Know Your Customer (KYC) policy. Bitex has partnered with Trackwizz for AML Screening solutions.

 

W: https://bitex.com/

Social Media: Facebook | LinkedIn

 

For more information, please contact Adfactors PR

Priyal Dave|priyal.dave@adfactorspr.com

Chinar Mote|chinar.mote@adfactorspr.com

 

OroPocket Launches India’s 1st Gold-backed Token on Tezos

Fintech platform Oropocket announced today that it is tokenizing gold and silver on the Tezos blockchain protocol. India's first gold or silver-based token, Oropocket has tapped blockchain consulting firm TZ APAC to advise them on their Asia business strategy using the Tezos blockchain. India has been experiencing a cryptocurrency boom ever since the country's Supreme Court lifted banking restrictions for exchanges earlier this year. This move positions OroPocket as one of the first movers in the convergence of the strong cultural significance of gold in India with emerging technological trends. 

With gold or silver-backed tokens, users are now able to independently track and verify their holdings at any point in time, removing the need for the tedious process of consulting a notary. The usage of a blockchain protocol allows all shareholding information to be transparent, accurate, and thorough. These tokenized assets - "XTZGold" and "XTZSilver" - are backed by physical gold and silver assets in a 1:1 ratio which is audited daily by third parties and stored in vaults in the UK, Switzerland, and Singapore. Users can invest as little as 0.01 USD to hold XTZGold or XTZSilver. All the assets are fully insured by Marsh Ltd. with Galmerly Ltd. as the appointed custodian.

Mohit Madan, CEO of OroPocket, said, "We aim to provide the highest security possible for our users and we recognized this strength in Tezos after conducting several trials with various blockchain protocols. Furthermore, its on-chain governance feature reduces the likelihood of forking. Forking happens when there is a disagreement on improvements to a blockchain protocol, resulting in a split of the blockchain, which produces two versions of digital representations of your assets in the network. Users would then have to go through a troublesome process of having to clarify which version is valid. On-chain governance on Tezos avoids this problem altogether and allows sustainable scalability and consistency in upgradability in a constantly evolving technology landscape."


"Tezos' comparatively low transaction fees are another key factor that aligns with OroPocket's goal of ensuring financial inclusivity through the removal of the hefty fees commonly imposed by traditional banks. OroPocket allows users to send gold or silver to anyone across the globe within seconds at only a charge of 0.25% fee on all transactions, without any storage, insurance, or hidden fees," added Madan.


Ethereum gas fees have been elevated over the past month from September 19 - October 18 at 2.46 USD, while Tezos has maintained gas fees below 0.01 USD over the same period, at a monthly average of 0.006427 USD for the same period. This makes Tezos gas fees over 380 times cheaper than on Ethereum, enabling more cost-effective deployment of decentralized applications on the Tezos.


"We at TZ APAC are excited to advise the team at OroPocket to launch their service on the Tezos blockchain. We see India as a very important blockchain market in Asia. By offering the very first gold and silver-backed digital assets on Tezos, it opens up a tremendous opportunity to reach the vast potential of users in the Indian market. To better facilitate a successful deployment, we have also tapped our local strategic partner, Tezos India, who will aid the team at OroPocket with technical support, development tools as well as community outreach activities which are crucial for its sustainable growth," said David Shin, Head of Asia at TZ APAC.


In addition to this tokenization of assets, OroPocket is working to offer add-on services on top of these fractional assets such as asset-backed debit cards, instant loans, and remittances. These debit cards provide users with high liquidity as they can shop online, offline, or withdraw cash at ATMs.

About TZ APAC

TZ APAC Pte. Ltd. ("TZ APAC") is a leading Asia-based public blockchain consultancy focused on the Tezos ecosystem achieving strategic impact in Asia. TZ APAC designs value-added blockchain transformation strategies for enterprises with a bottom-up approach, working closely with blockchain experts and other stakeholders in the Tezos ecosystem to ensure each strategy is built-in with a sound execution plan for alignment of business goals with management.

A core goal for TZ APAC is to identify and expand corporate and institutional partnerships in the region. Another important goal is to source and engage local teams that can contribute to the development of the Tezos ecosystem. Lastly, the TZ APAC team strives to create a culture of excellence in looking for projects that align with the strategic priorities of the Tezos Foundation.

TZ APAC is supported by the Tezos Foundation and is based in Singapore.


About Oropocket

Oropocket is a fintech platform that is empowering users to be able to indulge in 100% asset-backed banking on blockchain. Not only do we allow users to invest in multiple asset classes on one platform but we also provide a plethora of financial services on top of it. We have also created a bridge between the real world assets and DeFi- by creating a protocol called OpenDefi. OpenDefi enables cross-chain value creation and allows users to be able to get flash loans or yield on their holdings. For more information, please visit https://oropocket.com











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