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Archives: Fast News

  • Harmony blockchain updates the plan for recovering from the Horizon Bridge attack

    Harmony blockchain updates the plan for recovering from the Horizon Bridge attack

    Following the $100 million Horizon Bridge hack in June, the Harmony Blockchain team updated its community and partners on its asset-recovery proposal, which aims to protect Harmony’s blockchain without creating new tokens.

    In the new proposal, announced today via a blog post, the Harmony team said that after listening to Harmony’s validators and community, it shared the goal of “preserving the foundation of the Harmony blockchain with 0% minting,” and now proposed to use the foundation treasury for recovery funds.

  • Argentine Airline Flybondi to adopt NFT technology for ticket issuance

    Argentine Airline Flybondi to adopt NFT technology for ticket issuance

    Flybondi, a low-cost Argentine airline, is introducing blockchain tech in its operations. The company announced recently it will start issuing tickets as non-fungible tokens (NFTs).

    The solution, which was developed by Travelx, a blockchain tech development company, will allow customers to trade, transfer, and sell the tickets, changing the names of the users up to three days before the flight.

  • Philippine central bank sees stablecoins as key to make payments more efficient

    Philippine central bank sees stablecoins as key to make payments more efficient

    According to Mhel Plabasan, director of technology risk and innovation supervision department at BSP, stablecoin has the potential to revolutionize both domestic and cross-border payment more affordable and faster.

    The BSP has recently completed testing the use of stablecoins as a mode of payment in the Philippines. A recent report by blockchain data platform Chainalysis revealed that the Philippines ranked second worldwide in terms of crypto adoption, just after Vietnam.

  • Number of accumulation addresses has been increasing consistently

    Number of accumulation addresses has been increasing consistently

    According to data, the number of accumulation addresses (addresses that have at least two incoming non-dust transfers and have never spent funds) has been increasing consistently during the current bear market, suggesting that “hodlers” are unfazed by current price levels.

    In addition, the number of addresses with a non-zero balance stands around 42.7 million versus 39.6 million at the beginning of this year, showing consistent user growth in a bear market.

  • Tether announced the launch of USDT on Polkadot

    Tether announced the launch of USDT on Polkadot

    On the official Twitter page, Tether announced the development of a native token on the Polkadot blockchain.

    After integrating Polkadot, USDT will be available on a total of 11 DeFi ecosystems, including many popular names such as Ethereum, Avalanche, Kusama, and Solana…

  • Russian officials approve use of crypto for cross-border payments

    Russian officials approve use of crypto for cross-border payments

    According to a report from Kommersant, Russia’s Deputy Finance Minister Alexei Moiseev said the government department has agreed “on the whole” with the central bank over a rule that would let residents send cross-border payments using cryptocurrencies.

    Russian news agencies had been reporting that the central bank had been discussing the issue of cross-border crypto payments with government officials. However, the Bank of Russia reportedly opposed allowing crypto exchanges to operate legally and not accepting cryptocurrency as legal tender.

  • Avalanche integrates Layer-2 scaling solution Boba Network

    Avalanche integrates Layer-2 scaling solution Boba Network

    Avalanche integrates Layer-2 scaling solution Boba Network

    Ethereum layer-2 protocol Boba Network has announced the launch of its L2 scaling and augmenting solution on the Avalanche blockchain.

    The integration allows Avalanche developers to access Hybrid Compute, one of Boba’s flagship products that enables smart contracts to interact seamlessly with Web 2 APIs. Additionally, Avalanche-based projects can make use of Boba’s native NFT bridge, facilitating the seamless transfer of NFTs between multiple L1 and L2 networks.

  • Helium token holders approve switch to Solana blockchain

    Helium token holders approve switch to Solana blockchain

    Token holders in decentralized wireless provider Helium have formally voted to move from its own Layer-1 blockchain to the Solana protocol.

    The Helium Foundation said the switch will allow HNT to become more compatible with other projects and crypto applications in decentralized finance (DeFi), non-fungible tokens and other Web3 applications.

  • Digital bank FV Bank integrates USDC stablecoin for direct deposits

    Digital bank FV Bank integrates USDC stablecoin for direct deposits

    FV Bank on Wednesday announced the launch of a new service allowing its account holders to make direct deposits in USDC to the bank’s U.S. dollar accounts.

    The new feature enables customers to receive USDC on their accounts similar to traditional deposits like wire or the automated clearing house network.

  • Societe Generale launches custodial services for crypto fund managers

    Societe Generale launches custodial services for crypto fund managers

    According to a new press release on Wednesday, Société Générale, one of the largest investment banks in Europe, said that it would be expanding its cryptocurrency asset management services through its Security Services subsidiary.

    Clients who are digital asset fund managers can now elect to have Société Générale as their fund custodian, valuator and liability manager. The tools are designed to facilitate the addition of cryptocurrencies into institutional investors’ portfolios.