Ripple concludes new partnership to create open metaverse
Ripple, a well-known developer of corporate crypto and blockchain solutions, in cooperation with FLUF World, a global creative community and NFT collectibles ecosystem, announces the launch of a decentralized blockchain network, the Root Network.
The network is being created to bring to life “The Open Metaverse,” which will aggregate multiple NFT collections with over 195,000 different items.
Cryptocurrencies are now accepted by Spanish airline Vueling
Cryptocurrencies can now be accepted by Spanish airline Vueling via crypto payments processor BitPay. Vueling and BitPay have signed an agreement that would allow the airline’s customers to pay with crypto assets.
The service is expected to be available at the start of 2023 on the company’s website for individuals only. Customers will be able to pay for their flights using SHIBA INU (SHIB) and 12 different cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC) and Wrapped Bitcoin (WBTC).
TronDAO injects $300 million in USDC to reserves
As per the official announcement shared by TronDAO on its Twitter account, it added another portion of liquidity into USDD reserves. A total of $300 million in USD Coin (USDC) equivalent was transferred to its reserves pool.
After this transfer, the collateral rate (the ratio between the value of a stablecoin’s liquid supply and its reserves) smashed through the 300% milestone.
Alchemy launches $25 million developer grant program to fund Web3 projects
Blockchain developer platform Alchemy is launching a $25 million grant program to support Web3 developers and startups. Applications for up to $50,000 in funds open Monday, and funds will be issued in mid-July.
Alchemy hopes to fund projects dedicated to increasing the utility of NFTs and making DeFi accessible to institutions and at-home traders alike.
FTX agrees to acquire Canadian trading platform Bitvo as it eyes regional expansion
Cryptocurrency exchange FTX has entered an agreement to acquire Alberta-based trading platform Bitvo, in a deal that will be completed in the third quarter of 2022 subject to regulatory approval, according to a press release issued on Friday.
The Bitvo team is expected to be integrated with FTX’s global workforce following the acquisition, with responsibilities across the Canadian market.
Immutable X launches $500 million venture fund for Web3 games
NFT scaling platform Immutable X launched a $500 million venture fund focused on Web 3 games and NFT projects, according to a statement Friday.
Immutable said the fund will collaborate with crypto and gaming investors including BITKRAFT, Animoca, Arrington Capital, Double Peak, Airtree, King River Capital and GameStop.
Israel and Hong Kong trial a new digital currency
The Bank of Israel has partnered with the Hong Kong Monetary Authority to launch a trial of a new digital currency, testing its use against cyber security risks, the Bank of Israel said, according to a Bloomberg report on June 16.
The report also cited a statement by the two central banks, which read that the project’s deployment is set to begin in the third quarter of 2022 and “will use a two-tier central bank digital currency (CBDC).”
Banking uses 56 times more energy than Bitcoin
A research report published by Michel Khazzaka, an IT engineer, cryptographer and consultant, calculates that Bitcoin payments are a “million times more efficient” than the legacy financial system.
Plus, the banking sector “uses 56 times more energy than Bitcoin.” The report compiles almost four years of research and suggests a new calculation for estimating Bitcoin’s proof-of-work energy consumption.
Samsung launches Samsung Wallet
Samsung announced today that it’s launching “Samsung Wallet” to enable users to store select digital keys, boarding passes, identification cards and more all in one location.
The company says Samsung Wallet combines Samsung Pay and Samsung Pass into one secure platform. The mobile wallet was first teased at the manufacturer’s Unpacked event earlier this year.
Kazakhstan will now allow crypto exchanges to have their bank accounts
Kazakhstan is all set to launch a cryptocurrency pilot project in the economic zone of Astana International Finance Centre. This will provide exchange platforms to operate in a legal manner in the Astana International Finance Centre in this year itself.
This pilot project will be a form of cooperation between exchange platforms and some local banks of the country. This news was announced by The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan Republic.