Tag: Crypto

Singapore – Request Finance, the Web3 enterprise crypto payments startup, has secured a $5.5m seed round with institutional backers including Animoca Brands, Balderton Capital, and XAnge. This newly secured funding will support Request Finance’s efforts to expand its in-app services, and grow its team to capture a greater share of the growing crypto payments space.

Since its launch in January 2021, a whopping $203m in crypto invoices has been paid in the app. Today, Request Finance simplifies and automates invoicing, expenses, payroll, and accounting in crypto for more than 2,000 Web3 teams. It also offers enterprises an easy way to document critical information about users’ crypto payments which are typically required by the authorities.

According to Request Finance, its founders saw serious problems that had to be solved before more businesses would start using crypto. For one, making crypto payments by copying and pasting wallet addresses from a spreadsheet is both laborious and frightfully vulnerable to human error. On top of that, keeping proper financial records of crypto transactions was also an accountant’s nightmare.

To address these pain points, the team built a suite of enterprise-friendly features like on-chain payment confirmations, automated billing and payments in crypto, and even integrations with accounting software like Xero. The self-custodial platform currently supports over 150 tokens and stable coins on 14 different chains. By addressing the common challenges faced by companies using crypto, Request Finance has attracted large users from different Web3 verticals, namely DeFi and Aave, as well as metaverse projects like The Sandbox and Decentraland, and DAOs like Maker.

Yat Siu, Animoca Brands’ executive chairman and co-founder, commented, “The services provided by Request Finance allow Web3 projects – including some Animoca Brands companies – to save time and effort on crypto payments. We believe the company has significant potential.”

Manila, Philippines – PDAX, the digital asset exchange in the Philippines, has expanded its portfolio in the country, as it starts offering four new additional coins that Filipino crypto enthusiasts can buy, sell and trade via the platform’s mobile app. The new coins—Solana, SUSHI, XLM, and BNB—are now available to all members beginning this month. 

Each of the four new coins brings unique qualities. Solana, for one, is considered a more viable alternative to Ethereum due to its high speed and low transaction fees, while SUSHI is an Ethereum-based token that runs Sushi, a decentralized exchange platform where people can trade unique and hard-to-find cryptocurrencies that aren’t yet listed in major coin exchanges.

Meanwhile, XLM, otherwise known as Stellar Lumens, was designed to make transferring money as simple and affordable as possible. As for BNB, it is used to avail discounts on trading fees, pay for transaction fees, and invest in other cryptocurrency projects.

With the launch of these four new coins, PDAX mobile app now offers a total of 26 coins, the most out of all the licensed local exchanges.

Nichel Gaba, PDAX’s founder and CEO, said, “As the leading digital exchange in the country, we are constantly finding ways to expand our crypto offerings and address the needs and pain points of our users. With these new coins, we hope to encourage more Filipinos to start trading crypto.”

Before this month’s rollout, PDAX made some of the coins available for early access to members of PDAX Prime, a new exclusive service that provides high-volume Filipino crypto investors full access to even more tokens. PDAX Prime gives clients access to 50 tokens, including 30 exclusive over-the-counter (OTC) digital assets.

Aside from trading crypto on the exchange app, PDAX also offers easy transfer methods to private wallets so clients can use their assets for investing in DeFi, NFTs, and yield farming, amongst others.

Singapore – Esports tournament platform FACEIT has announced that it has entered a multimillion-dollar partnership with Singaporean crypto fintech platform Cake DeFi, where the aim is to go beyond brand integration by offering FACEIT players an opportunity to get involved in decentralised finance, earn crypto prizes, boost their prize winnings and create passive income. Through the partnership, Cake DeFi will offer players on FACEIT more than half a million dollars in crypto prizes won through weekly tournaments and in-game missions. 

The collaboration marks Cake DeFi’s first move into esports, which was facilitated by sports marketing firm, Pivot Agency. The agreement will offer the company access to FACEIT’s 25 million user base of competitive gamers, and will offer players a unique opportunity to earn actual crypto prizes while playing. This year, Cake DeFi will provide more than half a million dollars in prizes, paid in crypto. All crypto prizes are redeemable through their Cake DeFi account, allowing FACEIT to expand its current play-to-earn offering. 

Michele Attisani, co-founder & CBO of FACEIT, said that FACEIT platform is home to the largest community of competitive gamers, which means they have a unique understanding of their audience. 

“Our users are incredibly forward thinking and educated when it comes to crypto, so the partnership we chose had to bring tangible and substantial value to be of interest. The collaboration with Cake DeFi is much more than brand integration, and offers our community clear experiential and financial benefits which go beyond what any partnerships of this type has delivered before,” Attisani said. 

Meanwhile, Julian Hosp, CEO and co-founder of Cake DeFi, commented, “Gamers have a natural affinity with crypto and they can now join us on the DeFi movement. Cake DeFi’s partnership with FACEIT will allow players to earn crypto while they game, and further earn returns on their crypto through our platform. In 2021, we paid out US$230 million in rewards to our customers. So it’s a win-win-win for FACEIT gamers.”

Like many crypto fintech platforms, Cake DeFi is employing an aggressive marketing and customer acquisition strategy as startups from all over the world fight for market share in the newly developing space. 

Manila, Philippines – PDAX, the digital asset exchange in the Philippines, has launched a new exclusive service called PDAX Prime, which is designed for Filipino crypto investors and their growing needs for digital assets. 

The move is part of PDAX’s broader effort to enable and empower crypto holders in the country and bring more Filipinos into the crypto economy.

Through PDAX Prime, customers will have access to the over-the-counter (OTC) service where they can trade more tokens faster and with competitive pricing. Using their preferred chat application, PRIME clients will also have direct access to the PDAX Treasury Team to trade digital assets. 

Through this, clients can access 21 in-demand digital assets on TAXes Website, Mobile App and through Treasury OTC. These are Bitcoin, Ether, Tether, US Dollar Coin, and Litecoin, as well as Ripple, and The Graph, amongst others. The minimum trade amount for these digital assets on Treasury OTC is ₱1m per transaction.

Meanwhile, the PDAX Prime membership grants clients access to 30 additional OTC-exclusive digital assets namely Ox, 1 inch Network, Badger DAO, Bancor, and Chiliz, as well as Curve DAO, and DAI, amongst others. The minimum trade amount for these digital assets in the Treasury OTC is ₱250,000 per transaction.

Nichel Gaba, PDAX’s founder and CEO, noted that they believe crypto investors in the country deserve to maximise their crypto investments and discover more opportunities to build their wealth, especially at the age of economic recovery.

“Our current users have the option of upgrading their accounts to enjoy the perks of PDAX Prime. We see this as an improvement to what we offer today and a benchmark for other, more innovative solutions we may come up with in the future,” said Gaba.

PDAX also has a dedicated team that is passionate about crypto and all other solutions to help PDAX Prime clients make the most out of their crypto journey. The team’s mission is to guide the customers through the fast-paced world of crypto and share solutions that will allow them to maximise their crypto investments.

Additionally, as part of its mission of promoting financial inclusion and education in the country, PDAX will also provide PDAX Prime members priority access to different educational materials via Zoom or watch the recorded versions exclusively on the PDAX Prime Youtube channel, in order for them to stay ahead of the curve. These educational activities include a basic overview of digital assets, an in-depth discussion on trading and staking, and roundtables with crypto personalities who can provide their unique insights on different crypto or digital asset opportunities, amongst other things.

Indonesia – Indonesia-based crypto assets digital exchange, Tokocrypto, has launched its new crypto hub called ‘T-Hub’ in Bali, Indonesia, aimed at equipping the crypto community with the knowledge and skillsets needed to capitalise on the endless opportunities in the crypto economy.

‘T-Hub’ is a physical stomping ground for Asia’s crypto community, giving them a space to gather, ideate, create, improve, innovate, or simply live the crypto lifestyle, through the sheer utility of Toko Token (TKO), Tokocrypto’s local cryptocurrency project that offers a unique hybrid token model.

The hub spans 1000 square feet with media halls, discussions rooms, co-working spaces, and F&B outlets. The crypto community can look forward to gaining more blockchain and crypto-related information, and taking their existing knowledge to greater heights through the tools and technologies offered at the centre. Blockchain and crypto thought leaders in Asia and across the globe now also have a go-to place to congregate and champion new ideas.

T-Hub seeks to equip the crypto community with knowledge needed to capitalise on the endless opportunities in the crypto economy.

Pang Xue Kai, Tokocrypto’s CEO, shared that cryptocurrency’s market capitalization hit its US$3t mark last year, and while they celebrate crypto’s digitally connected nature, pandemic-induced lockdowns have highlighted the importance of human connections and the human touch.

“We wanted to expand crypto-related activities beyond the digital realm, and create a safe space for crypto enthusiasts all across Asia to exchange technical knowledge and expertise, and drive innovation to take crypto and its community to greater heights,” said Kai.

Meanwhile, Teguh Kurniawan Harmanda, Tokocrypto’s chief operating officer, noted that they established T-Hub to give the crypto community a space to come together and form a collective vision of joint purpose and ensure common direction. 

“We welcome everyone to make full use of the facilities at T-Hub – whether you’re a trader, DeFi farmer, general crypto investor, a creator or builder of on-chain platforms, a stakeholder of the blockchain and cryptocurrency industry, or just someone who’s interested in learning more about blockchain and cryptocurrency,” said Harmanda.

Tokocrypto said that ‘T-Hub’, which opened last 21 January 2022, is part of the vast and ever-growing Tokoverse built by the platform to further spread financial freedom in Indonesia and across Asia. Beyond T-Hub, the Tokoverse boasts an accelerator programme, TokoLaunchpad, Indonesia’s NFT marketplace, TokoMall, and mobile application for crypto education, Kriptoversity, amongst others.

Hong Kong – UDomain, Hong Kong-based blockchain solutions provider, has announced a rebranding to reflect its position as a pioneer blockchain solution provider. It has now changed its name to just ‘UD’ and has launched a new branding visual identity and website.

Founded in 1998 in Hong Kong, UD has been a major cloud and cybersecurity solution provider in the Greater China region. Presently, UD aims to help businesses grow by leveraging innovative blockchain technology and providing a one-stop solution that includes consulting services, technical development, and business matching to solution deployment

The company said the rebranding strategy aims to represent both the expansion of products and services of the company from domain services and cloud and security solutions to blockchain solutions, and to mirror “its vision for the future”.

Its new logo is a gradient midnight blue background with “UD” on it, which has been designed to exhibit a strong and distinctive brand image through minimalistic style. The new website, UD.hk, meanwhile, will prominently feature the company’s focus on connecting business to the world of blockchain and metaverse and helping enterprises enter web 3.0. 

The rebranding move is also accompanied by a series of new blockchain offerings to provide strategic business insight and technical support for blockchain projects. The rollout includes blockchain consulting services, NFT solutions, blockchain domain & validator, business crypto wallet, and tokenomics development.