Author: CryptoCurrencyNews

SINGAPORE, Oct. 25, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (“WSPN”), a leading digital payments and the issuer of Worldwide USD (“WUSD”), today announced the appointment of Austin Campbell as CEO of WSPN US. Mr. Campbell brings extensive experience in stablecoin markets and digital asset strategy to his new role, including running stable value products at JPM and Citi, managing reserves and risk for the Paxos stablecoins (BUSD, USDP), and having helped to design PYUSD. This appointment signals WSPN’s commitment to building first class financial products and revolutionizing the world of payments with its “Stablecoin 2.0” vision to deliver faster, cheaper, and safer transactions for all.

Building on his significant contributions as Head of Strategy, where he was instrumental in shaping WSPN’s strategic roadmap and identifying new market opportunities for WUSD, Mr. Campbell will now lead the effort in bringing this vision to the US market and beyond. His primary focus will be on:

• Driving the adoption of WUSD: Leveraging his deep understanding of the stablecoin ecosystem, Mr. Campbell will lead initiatives to establish WUSD as a leading solution for businesses globally.
• Leading treasury and risk management: Mr. Campbell will leverage his expertise to ensure the stability and security of WUSD, building trust and confidence among users and partners on a global scale.
• Building a world-class user experience: Mr. Campbell will oversee the development of user-friendly products and services that simplify the use of stablecoins for everyday transactions, regardless of location.
• Fostering strategic partnerships: Mr. Campbell will cultivate relationships with key players in the financial and technology sectors worldwide to expand WUSD’s reach and impact.

“I am incredibly excited to become the CEO of WSPN US,” said Mr. Campbell. “Stablecoins are key to improving the global financial system. We intend to build the best products for consumers and end users, creating a fair system where people control their own money and have global access to dollars. Our goal is to bring world-class user experience to stablecoins, where many users making payments in dollars won’t even have to think about the fact that they’re using blockchain technology. With WSPN, we’re committed to building a better economic model that fosters a virtuous cycle of adoption, benefiting the entire ecosystem.”

Prior to joining WSPN, Mr. Campbell was the founder and managing partner at Zero Knowledge Consulting, advising on market structure and risk management within the crypto ecosystem. Additionally, he is also an adjunct professor at New York University Stern School of Business, educating the next generation of Web3 leaders. His previous experience, including Paxos, Citi, and JP Morgan, coupled with his thought leadership in stablecoin mechanics, uniquely positions him to lead WSPN US towards a future powered by accessible and equitable financial solutions.

“Austin’s expertise and vision have been instrumental in shaping WSPN’s strategic direction,” said Raymond Yuan, Founder and CEO of WSPN. “We are confident that under his leadership, WSPN US will play a crucial role in driving the mass adoption of stablecoins and transforming the financial landscape for the better.”

****END****

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users.  WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

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View original content:https://www.prnewswire.co.uk/news-releases/wspn-names-austin-campbell-ceo-of-wspn-us-to-drive-stablecoin-innovation-and-expansion-302286233.html

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LOS ANGELES, Oct. 25, 2024 /PRNewswire/ — Yesterday, in Los Angeles, Lightspark hosted its first Partner Summit—Lightspark Sync.

Lightspark announced:

• Two new foundational capabilities for UMA – UMA Auth and UMA Request
• One Lightspark product update – Lightspark Extend for UMA
• Spark: A new open-source Bitcoin Layer 2, Lightning-compatible solution for stablecoins and self-custodial wallets

Lightspark is building the fastest global open payment network on Bitcoin. Their products simplify, streamline, and modernize the flow of global payments, whether using fiat currencies, stablecoins, or bitcoin.

Exciting updates for the Universal Money Address (UMA). UMA is an open-source messaging standard built on LNURL. Think of it as email but for money. It’s a solution that enables transactions in fiat currency, stablecoin, or form of value that any human, business, or AI agent needs to move or exchange in real-time.

By the end of 2024, Lightspark estimates their partners will unlock UMA for nearly 300 million customers in 140 countries and 100 currencies.

UMA Auth is like OAuth for money. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

It’s an open standard built on Nostr Wallet Connect that enables UMA-enabled wallets to delegate the push and pull of money with limits set by the user. For businesses, it’s an exciting new extension integrating payments directly into applications and services.

Even in today’s digital economy, payments on commerce platforms, content services, and messaging applications are challenging. Payment integrations can be complicated, taking up valuable development time and resources that can be used elsewhere. High transaction fees can eat into profits, and slow settlement times frustrate users and create risk. International payments add another level of complexity. These problems have been holding businesses back for far too long. UMA Auth solves many of these problems while providing users with easy linking to their existing financial apps and wallets.

At its core, UMA Auth is a two-way connection between platforms and their users’ UMA-enabled wallets.  It takes the great features of OAuth and applies them to the world of UMA payments, making secure authorization easier. Now, users can log in to their wallets and authorize UMA payments using familiar set-up experiences. Users can control what applications can access their wallets, specify permitted actions, and set spending limits for each application.  The potential use cases are far-reaching – UMA Auth enables bank accounts or wallets to be connected to messaging and email apps; for example, users can make payments to content creators (no matter where they are) with live tipping or recurring payments and subscriptions. Like Oauth, UMA Auth does not require platform partners to be in the flow of funds but, instead provides a seamless payment experience for users with the UMA-enabled wallet of their choice.

UMA Auth is built using Nostr Wallet Connect, a secure, open protocol that’s gained significant traction in the Nostr and Lightning communities and simplifies connecting wallets to apps. Lightspark worked with the Nostr community and the team at Alby to build on the protocol, extending Nostr Wallet Connect to support UMA features. Some new key enhancements Lightspark has proposed are cross-currency support and client app registration.

UMA Auth brings a new level of innovation to Lightning, making payments more open, interoperable, and user-friendly. It’s a big step forward in building a payment ecosystem that puts users first and opens up many possibilities for peer-to-peer transactions. Lightspark released SDKs that make it incredibly easy for businesses to integrate UMA Auth into their applications.

UMA Request. Built for UMA, this will allow any business or UMA-enabled wallet to request a payment from another wallet on the network. UMA invoices and payment requests will transform transactions for both businesses and individuals. Merchants or service providers can now quickly request customer payments by creating a one-time invoice for a product or service. This invoice can be paid multiple times, making it incredibly flexible for the business and the end users. One of the standout features of this system is that it provides proof of payment, ensuring that both parties have a clear record of the transaction. UMA Request is versatile enough to handle a variety of use cases. Whether requesting payments from friends for a shared expense, managing merchant checkouts, or handling bills from service providers, UMA Request provides a simple and effective way to facilitate transactions across different scenarios.

Lightspark Extend This is a significant step forward, enabling Lightning payouts to bank accounts over domestic payment rails. It reduces transaction times and costs and simplifies payments. Companies can pay out users at their preferred endpoints with instant, seamless fiat currency transfers from local bank accounts to any eligible account in the user’s chosen currency. In the United States, users can instantly receive USD from a Real-Time Payments-enabled local bank account. Lightspark Extend for the US and Mexico will be available by the end of the year, and Brazil will quickly follow. Lightspark Extend offers competitive pricing and unparalleled efficiency for businesses and individuals to send payments, ensuring that moving funds is faster and more cost-effective than ever.

INTRODUCING SPARK –
A SOLUTION FOR STABLECOINS AND SELF-CUSTODY ON BITCOIN
Lightspark believes the future of payments must be on the most open, neutral, and decentralized network and should also enable all use cases – from non-custodial wallets to stablecoins. Spark is a new, payments-focused, high-performance, open-source, scaleable Bitcoin Layer 2. It extends Bitcoin and Lightning and enables self-custodial wallets to send and receive real-time payments at virtually no cost. Spark also supports tokens such as stablecoins, making it the most comprehensive open payment network built on Bitcoin.

Lightspark is committed to powering a new generation of payment solutions. Their products are built with regulated financial service firms in mind. They offer tools for direct, secure messaging between payment counterparties so that their partners can support a range of customer payment experiences and address risk management, AML/CFT, sanctions, travel rules, and other requirements.

Media Contact
press@lightspark.com

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SOURCE Lightspark

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HONG KONG, Oct. 25, 2024 /PRNewswire/ — CoinEx, a global cryptocurrency exchange dedicated to putting users first, will officially launch its Italian and Polish language platforms on October 24. This strategic step underscores CoinEx’s commitment to expanding its presence in these fast-growing markets, offering a secure trading environment, a wide variety of cryptocurrencies, rapid coin listings, and a diverse range of trading tools to meet user needs.

Both Italy and Poland hold immense growth potential in the cryptocurrency space. Italian and Polish users are increasingly seeking platforms that provide accessibility, reliability, and strong community engagement. In response, CoinEx will focus on building local communities, strengthening partnerships, and participating in key events to deepen its local footprint in both countries.

In Poland, CoinEx has already made its mark as a golden sponsor of Cryptosphere and through participation in Web3 Student Expo x PlanetaNFT. CoinEx is also preparing for its 7th-anniversary meetup in Warsaw. In Italy, CoinEx will run engaging activities on Telegram and other social media channels to keep users connected and rewarded. Italian and Polish users will also enjoy exclusive benefits, including social media campaigns, newcomer promotions, trading competitions, and special events on CoinEx Brand Day.

Additionally, the Italian and Polish websites will feature CoinEx Insight for market analysis and CoinEx Academy for crypto market education. Official Italian and Polish websites will offer localized support, urging users to connect via social media and Telegram.

Official Website in Poland: https://www.coinex.com/pl
Official Website in Italy: https://www.coinex.com/it
Polish Instagram: https://www.instagram.com/coinexpolska
Polish X: https://x.com/CoinExPolska
Polish Telegram: https://t.me/CoinEx_Polska
Italian Telegram: https://t.me/coinex_italian
Italian X: https://x.com/CoinEx_Italian

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and futures trading, margin trading, swaps, automated market makers (AMM), and financial management services for over 10 million users across 200+ countries and regions. Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful, and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

To learn more about CoinEx, visit: Website | Twitter | Telegram | LinkedIn | Facebook | Instagram  | YouTube

View original content:https://www.prnewswire.co.uk/news-releases/coinex-expands-global-reach-with-italian-and-polish-language-launches-302286841.html

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DUBAI, UAE, Oct. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announces the WSOT Copy Trading Fest, inviting crypto traders and investors to compete for their share of an exciting 100,000 USDT prize pool. Running until October 31, 2024, the event offers participants the opportunity to showcase their expertise or leverage the strategies of top traders.

The World Series of Trading (WSOT) 2024 marks the fifth edition of Bybit’s premier crypto trading event, renowned for bringing global traders together. This year’s WSOT features a total prize pool of up to 10,000,000 USDT, with the Copy Trading Fest adding a unique competitive element for both seasoned and beginner traders.

Tailored for All Traders

• Experienced Traders:
  • Compete as Master Trader by executing winning strategies and aiming for the 100,000 USDT prize pool. The top 50 Master Traders with the highest PnL will split the 50,000 USDT pool.
• New and Aspiring Investors:
  • Join as Follower, copying the strategies of Master Traders to maximize returns without needing advanced technical skills. The top 100 Followers by PnL will split an additional 50,000 USDT pool.

How to Join and Compete

• Choose Your Role: Decide whether you’ll lead as a Master Trader or copy trades as a Follower.
• Meet the Eligibility Criteria: Ensure a minimum $50,000 trading volume during the event to qualify for rewards.
• Accumulate PnL: Both realized and unrealized profits count towards your leaderboard ranking.
• Fast Rewards: All prizes will be credited to the Bybit Rewards Hub within 10 days after the event ends.

Seize the Opportunity Today!

Whether you’re aiming to showcase your expertise or earn passively by following seasoned traders, the WSOT Copy Trading Fest offers a competitive, transparent, and rewarding experience. With the trading community buzzing, now is the time to jump in and claim your share of the 100,000 USDT prize pool.

#Bybit / #TheCryptoArk / #WSOT2024

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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View original content:https://www.prnewswire.co.uk/news-releases/bybits-wsot-copy-trading-fest-offers-100-000-usdt-prize-pool-for-crypto-investors-302285587.html

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BitMEX reports a 35% lower on-chain risk exposure than global averages, demonstrating its commitment to cutting-edge security and regulatory adherence.

VICTORIA, Seychelles, Oct. 22, 2024 /PRNewswire/ — BitMEX, the world’s leading crypto derivatives exchange, has announced that it continues to maintain a low on-chain Anti-Money Laundering (AML) risk profile, successfully reducing its risk exposure from 1.7% in 2019 to just 0.2% in 2024. This 88% reduction in on-chain risk exposure over the past five years is a direct result of BitMEX’s collaboration with Chainalysis, combined with substantial investments in compliance controls and advanced blockchain analytics. With its on-chain risk exposure 35% below the global average of 0.304%, BitMEX demonstrates its steadfast commitment to security and regulatory adherence, setting a new industry standard since 2019.

As the industry navigates complex regulatory environments, BitMEX has turned compliance into an opportunity for leadership. Ongoing compliance efforts include bi-weekly updates to its Proof of Reserves and Liabilities, the use of geo-blocking technology to minimise sanctions-related risks, and regular external AML audits to ensure compliance accuracy. BitMEX also integrates advanced tools to monitor both on-chain and off-chain activity, reinforcing its comprehensive approach to risk management.

Leveraging Chainalysis’ cutting-edge blockchain analytics, BitMEX has implemented robust mechanisms to assess, monitor, and mitigate on-chain risks. On-chain risk exposure refers to the risks associated with the flow of digital assets, especially concerning their origin or destination, and BitMEX’s proactive stance on mitigating these risks reinforces its leadership in safeguarding the crypto ecosystem.

Stephan Lutz, CEO at BitMEX said, “As we continue to prioritise the safety of our users and create a secure trading environment, our collaboration with Chainalysis has allowed us to stay ahead of evolving compliance standards. By integrating advanced blockchain analytics into our comprehensive risk management strategy, we have not only reduced on-chain risk exposure but also strengthened the trust our users place in us. This partnership ensures that BitMEX leads the industry in both security and regulatory adherence, giving our traders confidence in the safety of their assets.”

The BitMEX compliance framework has evolved to reflect the highest standards in the industry. Central to this transformation is its risk-based approach to threshold tuning, which integrates insights from Chainalysis’ detailed typologies and behavioural analytics. The platform’s commitment to data integrity is evidenced by periodic testing and scenario selection based on the latest threat models, ensuring that its AML programme consistently meets regulatory expectations.

“BitMEX has continuously taken an innovative and proactive approach towards enhancing their risk management strategy and prioritising consumer safety,” said Diederik Van Wersch, Regional Director, ASEAN & Hong Kong, Chainalysis. “The team has always valued a strong collaboration when working with Chainalysis, and it’s really impressive to see their investment in a skilled investigations and compliance team, and the adoption of advanced tools – which have yielded impressive results.”

BitMEX’s efforts highlight its leadership in setting new benchmarks for transparency and regulatory adherence in the crypto space. With the continuous implementation of rigorous AML programmes and real-time monitoring systems, the platform is uniquely positioned to offer a secure and compliant environment for traders worldwide. More details on BitMEX’s transformation of its risk profile is available via a Chainalysis case study here.

About BitMEX
BitMEX is the leading crypto derivatives exchange, providing professional crypto traders with a platform that caters to their needs with low latency, deep liquidity and unmatched reliability.

Since our founding, no cryptocurrency has been lost through intrusion or hacking, allowing BitMEX users to trade safely in the knowledge that their funds are secure. So too that they have access to the products and tools they require to be profitable.

BitMEX was also one of the first exchanges to publish their on-chain Proof of Reserves and Proof of Liabilities data. The exchange continues to publish this data twice a week – proving assurance that they safely store and segregate the funds they are entrusted with.

For more information on BitMEX, please visit the BitMEX Blog or www.bitmex.com, and follow Discord, Telegram and Twitter. 

View original content:https://www.prnewswire.com/news-releases/bitmex-achieves-industry-leading-low-on-chain-aml-risk-profile-through-strategic-partnership-with-chainalysis-302282410.html

SOURCE BitMEX

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