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Hong Kong is intensifying its efforts to become a global cryptocurrency hub by streamlining the licensing process for crypto trading platforms. The government aims to create a favorable regulatory environment while ensuring investor protection, with plans for a consultative panel to oversee licensed exchanges and regulations for stablecoins and custody services. This proactive approach positions Hong Kong competitively against other jurisdictions like Singapore, which are also enhancing their crypto frameworks.
Travala, a cryptocurrency-focused travel platform, has launched a Bitcoin and AVA reserve, celebrating over $100 million in gross annual revenue, a significant increase from $59.6 million in 2023. The growth, driven by flight and hotel bookings, is complemented by a new Treasury Reserve Plan aimed at strengthening financial resources for future expansion. CEO Juan Otero noted that the reserve will allow for strategic management of funds as the crypto ecosystem matures, with potential for introducing additional tokens in the future.
Ronin Network surged to the third most-used blockchain in November, with daily active addresses increasing by 93.43% to over 1.25 million. The ecosystem saw a 28.95% rise in Total Value Locked, reaching $169.05 million, while RON stakers grew to 484,540. Recognized globally for its achievements, Ronin is poised for further expansion with upcoming initiatives planned for 2025.
Bitdeer Technologies' stock surged 160% to $21.10 following the launch of its SEALMINER A2 rigs, which feature the efficient SEAL02 chip. The company aims to achieve 35 EH/s by 2025, significantly up from its previous target of 18 EH/s, driven by strong customer demand for 30,000 pre-ordered units. Additionally, Bitdeer is expanding its infrastructure with new power capacity and AI cloud offerings, supported by $400 million in funding.
Babylon Labs has partnered with SatLayer to enhance Bitcoin's staking and restaking capabilities, unlocking new liquidity and security for Bitcoin holders. This collaboration will allow over $2 billion in Bitcoin to secure various applications and infrastructures, aiming to bring Bitcoin's utility in decentralized finance to parity with Ethereum. The launch of SatLayer's devnet provides resources for developers to create innovative solutions leveraging this new infrastructure.
Babylon Labs has partnered with SatLayer to enhance Bitcoin's staking and restaking capabilities, unlocking new liquidity and security for Bitcoin holders. This collaboration will allow over $2 billion in Bitcoin to secure various applications and infrastructures, positioning Bitcoin to achieve feature parity with Ethereum in decentralized finance. SatLayer's devnet launch provides resources for developers to build innovative solutions leveraging this new infrastructure.
Crypto.com has partnered with Deutsche Bank to enhance its corporate banking services in the Asia-Pacific region, focusing on markets like Singapore, Australia, and Hong Kong. This collaboration aims to strengthen Crypto.com’s banking capabilities while Deutsche Bank continues to innovate within the digital asset ecosystem. Additionally, by early 2025, Crypto.com and Ingenico will pilot a project to simplify crypto payments through AXIUM Android terminals, expanding global accessibility for merchants.
Barclays plans to boost its annual tech spending for wealth management by over 75% and aims for a 25% return on tangible equity by 2026, focusing on markets like Singapore, India, and the Middle East, while avoiding the competitive U.S. market. In contrast, UBS is expanding its U.S. wealth business through organic growth, realigning into six divisions to better serve various client segments, and pursuing a national banking charter to enhance profitability. Both banks are targeting the mass-affluent market, with Barclays looking to hire up to 100 advisers in the U.K.
Crypto.com has partnered with Deutsche Bank to provide banking services in Singapore, Australia, and Hong Kong, with plans to expand to Europe and the UK. This collaboration marks a significant step in Crypto.com's growth strategy, enhancing its service offerings beyond crypto trading. The partnership aligns with Crypto.com's roadmap to introduce stocks, banking, and card services by 2025.
Crypto.com has partnered with Deutsche Bank to enhance corporate banking services in the Asia-Pacific region, including Singapore, Australia, and Hong Kong. This collaboration will provide digital asset custody, fiat-to-crypto exchange, and cross-border trading services, with plans to expand into the UK and Europe. As part of its growth strategy, Crypto.com is diversifying into traditional asset trading, having recently acquired Watchdog Capital to offer stocks and equity options in the US.
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