EN Insights

Archives: Fast News

  • Mexico will have its first shopping mall in the Metaverse

    Mexico will have its first shopping mall in the Metaverse

    Mexico’s first metaverse shopping mall will launch with over 80 brands but is expected to grow and host over 800 brands soon. The developers of Island Shopping Mall said they had partnered with The Savings Group Limited to integrate more than 879 brands such as Adidas, Nike, Puma, Bershka, Guess, Apple, Levi’s among many others.

    Users accessing this new virtual world will be able to make online purchases and earn gems and coins that can be exchanged for discount coupons or products in several shopping centers distributed throughout the island.

  • Costa Rican congresswoman proposes bill to regulate, recognize cryptocurrency

    Costa Rican congresswoman proposes bill to regulate, recognize cryptocurrency

    Costa Rican Congresswoman Johana Obando proposed a bill titled “Cryptoassets Market Law (MECA),” to regulate and recognize cryptocurrency in the Central American country. The bill seeks to grant legal certainty to fintech companies, encouraging the digital economy’s growth and crypto-asset adoption.

    Johana Obando expressed her belief that the bill will open up Costa Rica to foreign investors and fintech companies as well as create job opportunities for Costa Ricans. Additionally, the bill aims to preserve individual virtual assets, self-custody of crypto assets, and decentralization without interference from the Costa Rican government or banks.

  • Crypto exchange Binance, Musk’s co-investor, to help Twitter with blockchain

    Crypto exchange Binance, Musk’s co-investor, to help Twitter with blockchain

    Binance, the world’s largest crypto exchange that has invested $500 million into Elon Musk’s buyout of Twitter Inc, is creating a team to work on how blockchain and crypto could be helpful to Twitter. The newly-formed team will explore how to build on-chain solutions to address Twitter’s issues including proliferation of bot accounts.

    As one of Elon Musk’s equity co-investors to fund his $44 billion deal, Binance said it will brainstorm plans and strategies that could help Elon Musk run the platform.

  • Fantom implements an automated “bug scanning” method on Smart Contracts

    Fantom implements an automated “bug scanning” method on Smart Contracts

    On October 27, the Fantom Foundation announced a collaboration with the security and analysis platform Dedaub in order to bolster Fantom’s decentralized finance ecosystem.

    Dedaub’s monitoring system called Watchdog will monitor smart contracts on the Fantom blockchain for exploits and buggy code. The Fantom Foundation said that the Dedaub-crafted Watchdog will scan for issues 24/7 and monitor for more than 80 types of exploits.

  • Payments giant Visa files trademarks for crypto wallets and the metaverse

    Payments giant Visa files trademarks for crypto wallets and the metaverse

    Visa filed two metaverse trademarks on October 22, with plans to manage digital and cryptocurrency transactions, cryptocurrency wallets, non-fungible tokens (NFTs), and digital currency, among others.

  • Blockchain venture firms to invest $100 million in Busan for ecosystem development

    Blockchain venture firms to invest $100 million in Busan for ecosystem development

    A group of blockchain venture capital firms agreed to invest $100 million over three years to establish a blockchain ecosystem in South Korea’s second-largest city, Busan.

    EOS Network Foundation, OKX Blockdream Ventures, AlphaNonce and others signed a memorandum of understanding to invest in blockchain companies in the city and attract top talent from around the world.

  • Hong Kong to make retail crypto trading legal

    Hong Kong to make retail crypto trading legal

    Hong Kong plans to legalize retail trading of cryptocurrency, according to a Bloomberg report Thursday. Crypto platforms will be required to apply for a license to offer retail trading, according to the report.

    The city wants to reestablish its reputation as a global financial hub. The move contrasts with mainland China, where crypto is banned.

  • Crypto exchange FTX is working on creating a stablecoin

    Crypto exchange FTX is working on creating a stablecoin

    Cryptocurrency exchange FTX is working on creating a stablecoin, CEO Sam Bankman-Fried told The Big Whale in an interview.

    The exchange knows how to create one and is thinking about the best partner to work with, he said. He also hinted that an announcement will come soon.

  • Celo ecosystem projects raise $77.3M in support of interoperability, ReFi

    Celo ecosystem projects raise $77.3M in support of interoperability, ReFi

    Projects building on the Celo blockchain have collectively raised $77.3 million in support of various business initiatives, underscoring the growing adoption of the payments-focused developer network.

    Several projects building on the platform have received venture funding. Celo announced on Oct. 27 that projects impactMarket, Loam, Tatum, Circular Impact, Sanergy, Hyperlane, RedStone and Jia secured funding to further the adoption of theirWeb3 business models.

  • Kazakhstan to integrate CBDC on BNB Chain

    Kazakhstan to integrate CBDC on BNB Chain

    The National Bank of Kazakhstan will integrate its central bank digital currency (CBDC) on Binance’s blockchain network BNB Chain, Binance CEO Changpeng Zhao said.

    The Bank began testing the nation’s digital currency (CBDC) in 2021, the Kazakh tenge. On October 26, CZ revealed that Kazakhstan has made the decision to test the use of its CBDC via blockchain, namely BNB Chain. The CBDC is expected to launch at the end of 2022.