Instacoins Announces Comprehensive Holiday Bonus Giveaway for Bitcoin Buyers

Written by CryptoCurrencyNews on . Posted in Cryptocurrency.

SOFIA, Bulgaria, Oct. 29, 2024 /PRNewswire/ — Instacoins, the established Bitcoin brokerage and cryptocurrency services platform, today announced the upcoming launch of its Holiday Bonus Giveaway.

Instacoins Announces Comprehensive Holiday Bonus Giveaway for Bitcoin Buyers

The giveaway will feature a series of bonuses for both new and existing customers, running from Halloween all the way through to the New Year, with the aim of providing tangible rewards for users during the festive season.

“Our Holiday Bonus Giveaway is designed to deliver real value to our customers,” said Kris Farrugia, Instacoins Head of Sales and Marketing. “We’re focusing on practical benefits that make Bitcoin purchases more rewarding, especially during a time when many are looking to diversify their financial portfolios or give unique gifts.”

The Holiday Bonus Giveaway will reward users with a bonus amount of Bitcoin for every qualifying purchase. The bonus size will vary throughout the campaign, and customers who take advantage of multiple offers will benefit from a cumulative reward bonus at the end of the campaign.

Instacoins has built its reputation on providing a streamlined Bitcoin buying process that’s accessible to everyone, including support for eight major global currencies, multiple payment methods to suit various customer preferences, rapid transaction processing, and robust security protocols to protect user assets and data.

To date, clients from more than 120 countries have been served across all continents, resulting in over $500 million worth of transactions in Bitcoin. The Holiday Bonus Program is part of a continued strategy to align cryptocurrency investment opportunities with practical, user-focused advantages.

Over the coming months, Instacoins is also preparing to launch a new suite of products and services to facilitate the real-life use of Bitcoin, as well as other popular cryptocurrencies, in day-to-day transactions for the purchase of goods and services. This will include products related to retail shopping, travel, and accommodation.

Interested individuals can access more information about the Holiday Bonus Giveaway and its specific offers at instacoins.com. The company also encourages users to follow its social media channels for real-time updates on bonuses and promotional offers.

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U.S. Treasury’s Financial Inclusion Strategy Sidelines Crypto

Written by Stephanie Bedard-Chateauneuf on . Posted in Cryptocurrency.

The U.S. Treasury Department recently released a strategy aimed at promoting financial inclusion for Americans, notably leaving cryptocurrency on the sidelines. While the digital assets industry has long argued that crypto can provide accessible and inclusive financial solutions, the Treasury’s latest 35-page report mentions cryptocurrency only once, and not as a tool for inclusion. Instead, it highlights crypto-related risks, underscoring the department’s cautious stance on digital assets.

Crypto’s Limited Mention in Treasury’s Strategy

The Biden administration’s approach to financial inclusion, led by the U.S. Treasury Department, is built around expanding access to affordable financial products and services. Treasury Secretary Janet Yellen emphasized this commitment, stating that safe financial services play a crucial role in empowering Americans toward financial security. However, the report’s only reference to cryptocurrency came in the form of a warning, referencing a previous study on the “risks related to digital assets.”

As Vice President Kamala Harris advocates for economic inclusion on her campaign trail, her stance has shown more openness to crypto’s potential role in the economy. This nuanced difference highlights the divide within the administration over digital assets, as her approach appears to contrast with the caution expressed by the Treasury Department.

Financial Inclusion and the Role of Crypto

Crypto proponents argue that digital assets represent a low-barrier entry to finance, especially for underserved populations lacking access to traditional banking. Remittances and peer-to-peer transactions, for example, are often cited as real-world applications of crypto that can benefit communities with limited banking options. Advocates within the cryptocurrency sector suggest that blockchain technology’s decentralized nature can reduce costs and make financial services more accessible on a global scale.

Despite these arguments, organizations such as the Center for American Progress and the Brookings Institution are skeptical. They contend that crypto’s benefits for financial inclusion have been overstated, pointing to the volatility and lack of regulatory oversight as concerns that could, in fact, harm those the industry claims to help.

A Broader Political Landscape

The administration’s position on cryptocurrency is taking shape within the broader 2024 presidential election context. Both Vice President Kamala Harris and former President Donald Trump, a key contender, have voiced support for cryptocurrency in different ways. Harris has alluded to crypto’s economic potential, although her campaign hasn’t fully outlined how it would fit into her financial policy if elected. Trump, on the other hand, has openly embraced digital assets, which contrasts with his administration’s handling of crypto regulation, such as the SEC’s lawsuit against Ripple, a major crypto project, during his presidency.

The Treasury’s focus on traditional financial systems over digital assets also appears to support a more cautious, incremental approach to inclusion. While the strategy does not directly address digital currency, the choice to mention crypto only as a potential risk signals a likely continuation of regulatory caution in the near term.

Implications for the Crypto Sector

The Treasury Department’s cautious stance creates a challenging regulatory environment for crypto companies that hope to position themselves as solutions for financial inclusion. For example, firms like Ripple, which provides blockchain-based payment services, may face an uphill battle in convincing regulators of their utility for underbanked populations.

In fact, the broader cryptocurrency ecosystem may feel pressure from this strategy, as it signals a preference for traditional financial infrastructure and regulated institutions to address financial inclusion. With only a brief mention of crypto’s potential risks, the Treasury’s report sidesteps the argument that digital assets could complement conventional financial systems by offering decentralized, cost-effective alternatives.

Looking Ahead: The Future of Crypto and Inclusion

As the crypto sector continues to evolve, the lack of endorsement from the Treasury may encourage digital asset advocates to push harder for recognition as a legitimate part of the financial system. This strategy report also leaves room for future administrations to either uphold or revisit crypto’s role in financial inclusion.

Despite its omission from the U.S. Treasury’s inclusion plan, digital assets may find a foothold through other channels if enough institutional and political support coalesces around their potential. As the 2024 election unfolds, cryptocurrency’s place in the broader conversation about financial inclusion and regulatory policy is likely to become a significant point of debate, potentially shaping the sector’s future in the U.S.

For now, the U.S. Treasury Department’s strategy represents a conservative approach, favoring tested financial mechanisms while keeping the digital assets industry at a distance.

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Bitcoin Bull Market Gains Momentum for 2025 High

Written by Stephanie Bedard-Chateauneuf on . Posted in Cryptocurrency.

Bitcoin (BTC) has broken past the $73,000 mark, reaching close to its all-time high. With projections hinting at a climb toward $150,000 by 2025, the cryptocurrency market is buzzing with excitement as the post-halving bull market unfolds. Analysts believe Bitcoin’s potential peak could be reached due to factors such as liquidity expansion, increased institutional adoption, and favorable macroeconomic conditions. The latest rally has sparked hope for the future, with market watchers confident in the upside potential over the next 18 months.

Institutional Momentum in Bitcoin’s Bull Market

According to Peter Chung, Head of Research at Presto Labs, the market environment for Bitcoin is in a “constructive phase.” This optimism is supported by three main pillars: global liquidity, regulatory openness, and low investor expectations. Chung explained that key global economies, accounting for a majority of the world’s money supply, are favoring liquidity growth, with the U.S., China, and the EU in alignment on policy.

“The current liquidity bias among these economies sets up a favorable backdrop for Bitcoin,” Chung noted, adding that the upcoming U.S. election could further boost investor confidence regardless of the outcome. These conditions have allowed Bitcoin to rise steadily and could pave the way for a $100,000 level by 2025, with a potential top of $150,000 if momentum holds.

Regulatory Tailwinds and ETF Expansion

Bitcoin’s bull market is being fueled by a wave of institutional interest, amplified by the introduction of Bitcoin Exchange-Traded Funds (ETFs). With major financial players like BlackRock (NYSE:BLK) and Franklin Templeton embracing tokenization and stablecoin integrations, more institutions are exploring ways to integrate digital assets into their offerings. The regulatory landscape, which has seen a rise in compliant and well-structured crypto financial products, has created a path for institutional investors to participate more actively in the space.

Chung defines “institutional adoption” as regulated institutions incorporating Bitcoin and blockchain technologies into their primary services. This shift is evident through ETF growth and the entry of traditional financial custodians, which adds legitimacy and increases the appeal of digital assets.

“Financial custodians like BlackRock are setting a standard, helping lower the psychological barrier for institutional entry,” Chung noted. He believes that a gradual increase in trusted custodians will enhance mainstream adoption, further driving Bitcoin’s legitimacy and stability in the financial landscape.

Long-Term Bitcoin Price Outlook and Market Drivers

Chung remains optimistic about Bitcoin’s price trajectory, highlighting the impact of demand-driven growth and the decreasing influence of the four-year halving cycle. Unlike past market cycles, where halving events spurred supply scarcity, the current bull run leans more on growing demand from institutional investors and a broader adoption of blockchain technology.

“Today’s growth is more demand-based, with institutional adoption providing stability and sustained interest,” Chung said. He also believes stablecoins, such as Tether (USDT), serve as a bridge between fiat and crypto, helping to normalize blockchain as a transaction medium. Stablecoin adoption exemplifies the demand for a frictionless, global currency—an element critical to Bitcoin’s larger adoption.

Adoption and the Future of Bitcoin’s Bull Cycle

The 2024-2025 Bitcoin bull market has captured attention as traditional finance (TradFi) firms like Visa (NYSE:V) and PayPal (NASDAQ:PYPL) integrate stablecoins into their payment ecosystems. As these institutions innovate with tokenization, the possibilities for mass adoption grow stronger. Chung underscores that TradFi participation could lead to unprecedented demand for Bitcoin as both a store of value and an investment asset.

“TradFi’s involvement is about more than experimentation—it’s the real adoption of blockchain technology in mainstream finance,” Chung said. He cited tokenization of assets by BlackRock and Franklin Templeton as an indication that financial institutions see value in blockchain’s efficiency and security.

As 2025 approaches, the question is whether Bitcoin can sustain its upward momentum in the face of potential regulatory changes and market volatility. Analysts remain hopeful, with projections pointing toward continued growth. Chung suggests that while a future bear market may follow, the fundamental adoption trends are likely to stabilize Bitcoin’s price cycle and provide a steady growth path.

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OKX Names Standard Chartered as an Institutional Third-Party Custody Partner

Written by CryptoCurrencyNews on . Posted in Cryptocurrency.

DUBAI, UAE, Oct. 29, 2024 /PRNewswire/ — OKX, a leading cryptocurrency exchange and global onchain technology company, today announced the appointment of Standard Chartered, a leading international cross-border bank connecting the world’s most dynamic markets, as a third-party crypto custodian for its global institutional business.

The custody agreement with Standard Chartered is a significant addition to OKX’s comprehensive suite of institutional services, which includes advanced trading capabilities, robust risk management tools and enhanced custody solutions. By leveraging Standard Chartered’s extensive global banking expertise and rigorous risk management framework, OKX aims to offer institutional investors a broader range of secure and reliable custody solutions.

OKX Global Chief Commercial Officer Lennix Lai said: “We selected Standard Chartered as an institutional custodian partner to enhance our offering and accelerate the integration of digital assets within the traditional financial ecosystem. Standard Chartered’s extensive global banking expertise and unwavering commitment to security aligns with our objective to provide exceptional crypto services and reinforces the confidence of our institutional clients in managing their digital assets.”

Standard Chartered Global Head of Financing & Securities Services Margaret Harwood-Jones said “We are committed to offering custodial services that meet the highest standards of safety and compliance. Serving as OKX’s third-party custodian allows us to extend our expertise into the evolving cryptocurrency sector, providing institutional investors with the assurance they require.”

This collaboration is expected to attract increased institutional participation in the digital asset market, contributing to a more mature environment for institutions globally. It aligns with the findings of a recently published OKX-commissioned research brief authored by Economist Impact, entitled “Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges,” which highlights institutional investors’ view that digital assets are an inevitable institutional opportunity. The report also finds that 80% of traditional and crypto hedge funds utilizing digital assets employ third-party custodians, highlighting strong demand for segregation of duties related to trade execution and asset custody.

— ENDS —

For further information, please contact:
Media@okx.com 

Wasim Benkhadra
Global Communications Lead, Corporate & Investment Banking (CIB)
Head of Communications, UAE, ME & Pakistan and Africa
Standard Chartered
+9714 5083221
wasim.benkhadra@sc.com 

Or

Kate Matthews
Communications Director, Europe
Standard Chartered
+44 20 7885 7899
kate.matthews@sc.com

About OKX Institutional

OKX Institutional is a global leader trusted by international firms and counterparties, and provides a powerful suite of institutional crypto trading solutions such as an on-demand OTC liquidity network, structured products and managed accounts. OKX infrastructure is built for institutional traders, with unified account systems, integration with leading custodians and low-latency APIs.

With industry leading monthly Proof-of-Reserves and trading volumes, deep liquidity, and 99.99% uptime, OKX combines top-tier security with speed and reliability. It offers access to over 700 spot trading pairs, 280+ derivatives instruments, and up to 125x leverage on leading futures contracts.

To learn more about OKX Institutional, visit: okx.com/institutions or contact institutional@okx.com to accelerate your institutional crypto trading objectives.

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

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RD InnoTech Targets Future Stablecoin Launch with HashKey Exchange, Advancing Cross-Border Payment Ambitions

Written by CryptoCurrencyNews on . Posted in Cryptocurrency.

HONG KONG, Oct. 28, 2024 /PRNewswire/ — RD InnoTech Limited (RD InnoTech), a subsidiary of RD Technologies Group, is steadily advancing the issuance of its HKDR stablecoin. From the outset, RD InnoTech has focused on ensuring HKDR complies with rigorous regulatory standards while preparing for seamless market entry to support international payments and cross-border transactions. On July 18, 2024, RD InnoTech was admitted into the Hong Kong Monetary Authority (HKMA) stablecoin issuer sandbox, establishing a crucial framework for future compliant operations.

RD InnoTech plans to roll out its HKDR stablecoin on Ethereum in the future. RD InnoTech has selected Ethereum for its strong global liquidity and established ecosystem, proven stability, and secure, decentralized infrastructure—ensuring reliable, large-scale financial operations.

Hash Blockchain Limited (HashKey Exchange) Partnership: Driving Growth and Market Access

RD InnoTech plans to launch on Hashkey Exchange, the largest* licensed virtual asset trading platform approved by the Hong Kong Securities and Futures Commission (SFC), marking a pivotal step towards realizing its vision of enabling seamless, more efficient and compliant global payments through stablecoin integration.

Ms. Rita Liu, CEO of RD Technologies Group, highlights the strategic value of working with HashKey Exchange:“We are very excited to be working with  HashKey Exchange because they bring critical components we need to launch HKDR successfully: regulatory credibility, vast institutional relationships, and deep liquidity. Their compliance with Hong Kong’s VATP regulatory regime reinforces trust with partners and regulators.”

Ms. Rita Liu adds that Hong Kong’s role as a gateway between East and West strengthens stablecoins’ potential for capturing Asia’s growing demand in leveraging stablecoins for facilitating cross-border trade and payments: “Stablecoins can eliminate friction in global transactions by synchronizing information and asset flows. We are building a compliant, stable digital currency that unlocks speed and affordability for businesses across borders.”

“We are excited to make a significant breakthrough in the Hong Kong stablecoin market and the global cross-border payment sector through our close collaboration with RD InnoTech. HKDR will not only lower transaction costs but also improve the efficiency of fund flows, providing global enterprises with a compliant and stable currency. This initiative will greatly enhance global trade and strengthen financial connectivity. As the largest licensed virtual asset exchange in Hong Kong, HashKey Exchange is fully committed to supporting this innovation, ensuring that professional investors can easily access this compliant stablecoin, backed 1:1 by the Hong Kong dollar^. Moving forward, HashKey Exchange will act as the ‘nerve center’ to continuously drive the development of compliant stablecoin operations,” said Mr. Livio WENG, CEO of HashKey Exchange.

By combining regulatory rigor, strategic partnerships, and blockchain innovation, RD InnoTech aims to position HKDR as a key enabler of the future global payment landscape. The partnership with HashKey represents a critical step toward this goal, aligning with Hong Kong’s ambition to become a global digital asset hub and setting the foundation for stablecoin adoption across Asia and beyond.

About RD Technologies Group:

RD Technologies Group (RD Technologies) is the financial platform that bridges the Web2 and Web3 worlds. It deploys innovative fintech to build a business world interconnected by trust. Based in Hong Kong and connected with the global community, RD Technologies was born out of a mission to enable businesses to gain easier access to financial services, enhance trade efficiency, and promote the development of Hong Kong as a trade hub in Asia and an international financial centre. For details: https://rd.group

Secure and innovative solutions managed by subsidiaries under RD Technologies include:

  • RD Wallet:
    RD Wallet Technologies Limited (RD Wallet) is a licensed Stored Value Facility in Hong Kong (licence number: SVF0016). It enables global businesses to open multi-currency fiat accounts on mobile anytime, anywhere. RD Wallet is committed to facilitating cross-border trade and payments through efficient, secure, and innovative payment solutions for businesses, and contributing to the development of Hong Kong as a trade and financial hub in Asia. For details about RD Wallet: https://rd.group/products/wallet/
    For media inquiries, please contact:  lucy.long@rd.group 
  • HKDR Stablecoin (HKDR):
    HKDR Stablecoin (HKDR) is a trusted and transparent Hong Kong Dollar stablecoin 1:1 backed by the Hong Kong dollar, with high-quality and highly liquid assets safekept in segregated custody accounts with licensed financial institutions. Details of the reserves will be available to the public through regular independent attestation reports.  In July 2024, RD InnoTech Limited, the issuer of HKDR, was among the first batch of entities to be admitted to the stablecoin issuer sandbox by the Hong Kong Monetary Authority.  RD InnoTech Limited will abide stringently by the regulatory requirements for the launch of HKDR to contribute to the continuous development of Hong Kong as a global Web3 and virtual asset hub. For details about HKDR: https://rd.group/hkdr

*Note: As of October 20, 2024, HashKey Exchange ranking 9th on CoinGecko’s global exchange list, making it the largest licensed virtual asset exchange in Hong Kong.

^Referenced from the HKDR official website introduction.

About HashKey Exchange

HashKey Exchange is committed to setting new benchmarks for virtual asset exchanges in terms of compliance, fund security, and platform safety. HashKey Exchange is one of the first licensed retail virtual asset exchanges in Hong Kong. It has been approved by the Securities and Futures Commission (SFC) and holds licenses for type 1 (securities trading) and type 7 (providing automated trading services) under the Securities and Futures Ordinance, as well as operating a virtual asset trading platform under the Anti-Money Laundering Ordinance, operating a virtual asset trading platform in compliance. As the flagship business of HashKey Group, HashKey Exchange provides one-stop virtual asset trading services for professional investors (PI) and retail investors. HashKey Exchange has obtained ISO 27001 (information security) and ISO 27701 (data privacy) management system certifications. 

HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations.

Information may become outdated, due to new plans, regulations, or market changes.

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SOURCE RD Technologies Group

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