What happened in the crypto world in the last week? Let’s see some interesting news together!
LYOTRADE Unveils Effortless Crypto Trading
We’re excited to bring you some incredible news that’s set to take your crypto trading to a whole new level. Our team has been hard at work to enhance your journey, and we’re thrilled to announce a new and improved buy & sell crypto experience on LYOTRADE.
- Lightning-Fast On-Ramp: Your Gateway to Crypto
Are you ready for a faster and smoother way to enter the world of cryptocurrencies? In partnership with AlchemyPay, we’re introducing a lightning-fast on-ramp experience for you.
Now, buying and selling crypto will be quicker and more effortless than ever before. Say goodbye to cumbersome processes and hello to seamless transactions that keep you in control.
- Your Trading, Your Choice
At LYOTRADE, we understand that every trader has unique preferences. That’s why we’re giving you the power of choice. Our new feature supports over 50 fiat currencies and an impressive array of 300+ payment methods.
From Payment Cards to digital wallets like Apple Pay and Samsung Pay, as well as various regional payment methods like SEPA, PayNow, ThaiQR, and more – we have integrated a wide range of payment options at your disposal. Trade in a way that suits your style.
- Simplified KYC Process
Your feedback matters to us, and we’ve heard you loud and clear. If you’ve completed your KYC during LYOTRADE signups, you won’t have to go through the same process again with each purchase. We’re streamlining the process to ensure a smoother experience for you.
Stay tuned for more updates, news, and developments as we embark on this thrilling journey together.
Singapore Central Bank Introduces Regulatory Framework for Stablecoins
In the context of an increasingly regulated global crypto landscape, Singapore has unveiled a stablecoin framework. The Monetary Authority of Singapore (MAS) introduced these guidelines on August 15, now permitting stablecoins to integrate into the country’s established financial structure.
The Singaporean government-initiated discussions on stablecoin regulations in October 2022. Over the subsequent ten months, they actively engaged the public to gather insights, particularly due to stablecoins falling within the cryptocurrency domain.
The regulatory framework formulated by MAS focuses on single-currency stablecoins (SCS). Certification from MAS will exclusively apply to stablecoins pegged to the Singapore dollar or other G10 currencies, such as the Australian dollar, US dollar, and British Pound, as highlighted in the official statement from Singaporean authorities.
For Web3 companies seeking to launch stablecoins in Singapore, it will be essential to uphold a specified level of minimum base capital and liquid reserves. The nation’s objective is to prevent these firms from being vulnerable to the perils of financial instability and bankruptcy.
Europe’s First Spot Bitcoin ETF Debuts in Amsterdam
London’s Jacobi Asset Management has launched Europe’s first spot Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam, following a nearly two-year period from initial approval. Regulated by the Guernsey Financial Services Commission, the Jacobi FT Wilshere Bitcoin ETF will trade as “BCOIN.” Fidelity Digital Assets handles custody and Flow Traders serves as the market maker for the landmark financial product, according to Jacobi’s announcement on Tuesday.
Originally approved in October 2021 with a planned 2022 listing, Jacobi was postponed due to market challenges like the Terra ecosystem collapse and FTX’s insolvency.
While Europe is familiar with exchange-traded notes (ETNs), Jacobi’s ETF is a novel offering in the region. ETF investors hold underlying shares, while ETN holders possess debt securities. Unlike ETNs, Jacobi’s ETF refrains from leverage or derivatives.
With the launching of Europe’s first Bitcoin ETF, the United States falls further behind the international crypto community, following the rejection of multiple Bitcoin ETF filings by the U.S. Securities and Exchange Commission in the past. However, there is renewed optimism for the first Bitcoin ETF in the U.S., as BlackRock leads new applications featuring “surveillance-sharing” pacts, aimed at curbing market manipulation.
Stay tuned for next week’s crypto news! Follow LYOPAY social media pages: