Author: News Desk

Tether Holdings, the issuer of stablecoins, has made a significant investment in Bitdeer Technologies Group, a US-listed Bitcoin mining company owned by Chinese billionaire Jihan Wu. The deal involves a $100 million investment, with an option to purchase an additional $50 million in shares over the next year. Bitdeer announced today (Friday) that the agreement includes a private placement of 18.6 million Class A ordinary shares, yielding $100 million in gross proceeds. Additionally, there is an option to buy up to five million more shares at $10 each. The private placement, facilitated by Cantor Fitzgerald, concluded on Thursday. This investment…

Ant Group and Mastercard have launched a program to boost tourism and support local businesses in Shanghai, China. Partnering with 12 of Alipay+’s overseas payment partners and other major international card organizations, they introduced the International Consumer Friendly Zones program to stimulate regional economic growth, tnglobal reported. The initiative, supported by local authorities, covers over 20 shopping areas, tourist attractions, both of Shanghai’s international airports, high-speed railway stations, and 25,000 taxis. Key participants include renowned brands and sites like the Bund, Nanjing Road, and the Oriental Pearl TV Tower. Fu Lu, Director of Cross-border Business in Greater China at Ant…

Global payments infrastructure provider Mercuryo has partnered with Trust Wallet, a prominent self-custody Web3 wallet, to introduce an off-ramp service. Trust Wallet, supporting over 100 blockchains and more than 10 million assets, will now allow users to convert cryptocurrencies into fiat currencies through this service. This new off-ramp service aims to bridge the gap between Web3 and Web2, offering users a straightforward interface for switching between fiat and cryptocurrency. Such services are crucial for the adoption of Web3, attracting users who are more familiar with the traditional Web2 environment. Mercuryo’s off-ramp service for Trust Wallet enables the conversion of over…

Tradeweb Markets reported a trading volume of $41.7 trillion in May 2024, marking a 40% year-over-year increase in average daily volume (ADV) to $1.9 trillion. This growth underscored heightened activity across various segments in the electronic marketplace. The ADV for US government bonds surged by 33.4% year-over-year to $192.5 billion, supported by broad client sector growth and favorable market conditions. European government bond ADV saw a slight dip of 0.4% year-over-year to $41.4 billion. However, the adoption of new protocols and increased primary issuance in Europe and the UK helped sustain trading volumes. Mortgage ADV increased by 18.4% year-over-year to…

Cryptocurrency exchange Kraken is reportedly in the process of raising over $100 million in anticipation of a potential initial public offering (IPO), according to Bloomberg. Established in 2011 in San Francisco, Kraken has been contemplating a public listing for some time, spurred now by heightened investor interest and more lenient regulatory views on digital assets. Kraken is engaging in discussions aimed at securing a special-purpose acquisition company (SPAC) partnership to facilitate a successful IPO, possibly within the next year. Although these conversations with potential investors have been informal, they have focused on establishing terms and setting valuations. The fundraising effort…

MasterCard has launched the MasterCard Crypto Credential, a new service designed to simplify crypto transfers. This service enables users to send and receive cryptocurrency using aliases instead of lengthy blockchain addresses, addressing a common issue that has led to significant financial losses during transactions. The solution is already available on various exchanges, including Bit2Me, Lirium, and Mercado Bitcoin, with new partners like Foxbit and Lulubit, which integrates with Lirium. The service will initially be piloted in Latin America and Europe, with plans to expand to more countries in the coming months. “As interest in blockchain and digital assets continues to…

Publicly listed brokerage CMC Markets (LON: CMX) has formed a strategic partnership with Revolut, integrating multiple APIs to allow Revolut customers to access CMC’s trading universe directly through the neo-banking app. CMC Markets Connect will provide the back-end infrastructure, including trading, pricing, account systems, execution, and clearing. Initially, Revolut customers will gain access to FX, indices, commodities, treasuries, and equity CFDs, with potential expansion into other asset classes as the relationship grows. “The partnership facilitates back-to-back trading with Revolut, along with a complete back-end integration,” said Lord Cruddas, CEO of CMC Markets. “We look forward to supporting Revolut’s customers with…

Monex, a major online brokerage, has launched a new service in collaboration with Tokyo-based NTT Docomo, enabling customers to purchase mutual funds using credit cards. The press release states that Monex will allow customers to use NTT Docomo’s d CARD for regular mutual fund purchases. This integration offers investors up to 1.1% back in d POINTs on their monthly mutual fund payments. Monex anticipates that this rewards system will encourage consistent investments by providing tangible benefits. Customers using d Card GOLD will benefit from a flat return rate of 1.1% on periodic investments in NISA accounts. Monex has highlighted this…

The Trading Pit, a multi-asset global prop trading firm, has announced significant leadership transitions, including the departure of key figures Christoph Radecker and Thomas Heyden, and the expanded roles for experienced leaders Illimar Mattus and Daniela Egli. Leadership Changes at The Trading Pit Christoph Radecker, Co-Founder of The Trading Pit, is leaving the company to explore new ventures. Reflecting on his time with the firm, Radecker expressed gratitude for the transformative experiences and meaningful connections he has encountered. “My time at The Trading Pit has been transformative. “The insights gained and the relationships built will surely influence my future endeavors,”…

Nets, part of the European PayTech giant Nexi Group, has established a strategic partnership with the AI-driven global payments network and shopping assistant Klarna. This alliance is set to introduce Klarna’s diverse payment methods to Nets’ extensive merchant base throughout the Nordic region. Integration of Payment Solutions at CheckoutThe partnership entails the integration of Klarna’s payment solutions into the Nets checkout framework, which will primarily benefit e-commerce merchants in Sweden, Norway, and Denmark. By incorporating Klarna’s advanced payment options, Nets aims to enhance its standing as a leading payment gateway provider. This integration simplifies the process for merchants, enabling them…