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Crypto Exchange Bybit’s Global Headquarters to Operate in Dubai

Posted on by Subh Rath

Bybit took to Twitter to announce its new era into the Web 3.0 metaverse with the opening of its headquarters in the heart of Dubai. 

Dubai recently shared the news of its updated licensing requirements for crypto entities. Soon after this update in crypto licensing requirements, Ben Zhou, CEO and co-founder of Bybit, shared a press release detailing Bybit’s global headquarter. Ben mentioned in his press release that Dubai, one of the most forward-thinking digital assets centers in the MENA region and the world, is well-positioned to capitalize on Bybit’s prospects.

Bybit, one of the first exchange services to receive in-principle authorization to operate in Dubai, has seized the momentum on a meteoric rise to the second spot among the roughly 400 crypto and blockchain enterprises in the Middle East and North Africa in the last year.

With this opening, the exchange took over a whole floor at One Central, Dubai World Trade Centre, the corporate headquarters of 16,000 square feet of open space.

Moreover, with its opening in the heart of Dubai, many of Bybit’s partners and popular personalities in different sectors took to their social media to join this celebration. 

Bybit’s Action Plan for Its New Global Headquarters:

The digital economy is expanding at a rapid pace, and crypto and blockchain technology will serve as the foundation and connecting tissues. 

Dubai, one of the most innovative digital assets centers in the MENA and the world, is well-positioned to capitalize on the sector’s prospects by bringing together cutting-edge technology and infrastructure, international talent, and vision.

Ben Zhou also said the new Bybit headquarters would be a creative hub for dreamers and innovators to exchange ideas. This hub will provide all friends and members of the Bybit family access to the next level of Web3 opportunities.

Furthermore, the exchange expects to have more than doubled its trading volume in the region in 2023.

Based on its vision to become the world’s Crypto Ark and to allow the widespread acceptance of digital assets, the platform plans to accelerate worldwide growth from its new home base through new collaboration, talent cultivation, and product innovation programs.

This headquarters will focus on community and trust development, providing a physical venue for the worldwide community to engage and experience various activities.

Also Read: Leading Crypto OTC Desk Legend Trading Launches Legend Pay, Enabling Seamless Fiat On/off-Ramp for Crypto Platforms 

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AIO Exchange Will Be Launching Soon, Here’s Everything You Need To Know

Posted on by Subh Rath

Cryptocurrencies have become exceedingly popular, with a wide range of crypto exchanges publicly available today. With that in mind, users can trade a variety of digital assets on AIO Exchange, including Bitcoin, Ethereum, Litecoin, and 4,000 others, thereby making AIO the largest public CEX.

Users are welcomed into this impressive platform which offers one-click trading across over 16 top crypto exchanges with a dashboard which shows the current market prices for multiple cryptocurrencies, in addition to a variety of trading tools and resources, when they visit the site.

What makes AIO Exchange so special?

Typically, exchanges have differing prices, fees and blockchains accessible to their users, which makes it difficult and overwhelming to properly navigate through all of the various features. More importantly, there isn’t a public solution at the moment which enables users to successfully trade on other CEXs at ease. This is where AIO comes into play, as the award winning exchange re-defines orders by enabling users to deposit, trade, and withdraw to the best exchange with a single click. The exchange provides a detailed breakdown of the estimated cost, including deposit-withdrawal chains and settlement times. Moreover, its algorithm considers exchange processing time and advanced users can even tailor their quote to execute on a single or multiple exchanges.

Additionally, users can track their orders until they are completed. There is also no need to log in to individual exchanges or deal with any kind of email approvals, as the entire transaction and ordering procedure will be handled by AIO. Lastly, the total fees consist of the corresponding exchange  deposit, withdrawal, and an AIO fee.

What does AIO Exchange offer?

AIO Exchange, also known as the ‘Exchange Built On Other Exchanges,’ is a one-stop exchange solution with connectivity to over 16 exchanges. Users can choose from a variety of liquid exchanges to use, or if they desire, the system can choose the best price from among them all. Other useful features include combining orderbook, transaction, exchange, and blockchain data on a single platform for maximum flexibility, accessibility, and convenience.

One of AIO Exchange’s most notable features is its advanced trading interface, which offers customers an array of useful tools to assist them in making informed trading decisions. The cutting-edge platform includes charting tools, price information, and much more. Besides that, AIO Exchange allows users to create custom trading pairs, giving them greater control and flexibility over their trades.

In addition , AIO Exchange enables many arbitrage choices in the markets. Essentially, this refers to the action of buying and selling the same asset on two different exchanges to make a return via the price difference. With AIO, users can connect up to 16+ top exchanges which makes it a highly effective tool for people to arbitrage in just a single click, making it both highly accessible and convenient.

The AIO Exchange Token

Users who own AIO Exchange tokens effectively own a portion of AIO Exchange, entitling them to a portion of all transaction and withdrawal fees. In the fourth quarter of 2023, instant settlement orders will power high-reward staking and other benefits.

AIO Exchange tokens serve as the exchange’s backbone, directly supporting the world’s most diverse exchange platform. The ecosystem requires AIO to fund transactions through the cheapest of the platform’s 16+ exchanges. Elsewhere, withdrawal fees and transactions account for 90% of AIO Token profit distribution. The remaining 10% will be used to cover operating expenses. Note, the minimum amount required to receive the profit distribution is 100 AIO tokens. This is to ensure that the transaction fee processing is worthwhile, and to encourage the minimum holding.

AIO Exchange tokens are also Solana-based (SPL), allowing for lightning-fast transactions and maximum ecosystem flexibility. The tokens have a fixed supply of 100 million, but the team intends to distribute more tokens on other blockchains in the future to address some of Solana’s flaws and integrate new features. This will be accomplished through a 1:1 burn:mint ratio, which will ensure that the fixed supply of AIO tokens across all blockchains remains at 100 million.

What else does AIO Exchange offer?

To enable low-cost, high-speed transactions and thousands of tokens, AIO Exchange operates on a variety of blockchains. It supports multi-chain tokens, which means that a token does not have to be exchanged on its own network. In fact, AIO allows for multi-chain transactions. Also, to further minimize transaction speeds, AIO hosts dedicated infrastructure and full-nodes for the more congested blockchains (including Bitcoin, BitcoinCash, and Litecoin).

For API users and those who make frequent withdrawals, the AIO Exchange Wallet offers low and competitive transaction fees, making it a viable option. It also offers quick transaction speeds, which are essential for regular traders, arbitrageurs, and merchants.

AIO Exchange uses dedicated node infrastructure and proprietary technology to provide quick total settlement times at a low cost. It is also very secure because, unlike the vast majority of exchanges, AIO does not have a single private key for any two (or more) of its wallets, which means the exchange does not share keys for any transactions which are not securely encrypted and compiled in code. This also means that even if one wallet key is compromised, none of the others would be affected.

About AIO Exchange

AIO Exchange is a product and trading name of Edward Sharp and Co Limited CR-381861, which is registered under the Company Register Act in the Cayman Islands and the United Kingdom. The team has been silently developing the project for 2 years. The website is user-friendly, with a clean and modern interface that’s simple to navigate.

Aside from the services listed above, AIO is the inaugural crypto exchange platform to offer crypto-dividends directly to users’ cold wallets. It is also the world’s first public platform which aggregates this many exchanges. For comparison, Fireblocks offers similar tools but is limited and not public. 

In addition to earning USDT profits from the exchange, users can also earn fiat currency profits from the exchange. Furthermore, the AIO Exchange API should be utilized because of its capabilities linked with connectivity, power, abstraction, and dedicated blockchain RPC nodes.

The all-encompassing exchange pays out frequent, timely dividends and the payouts can also be obtained on a weekly basis. Users can also see a detailed breakdown of when they will receive their tokens and the minimum payouts through the website. Lastly, profits from the exchange are distributed directly to AIO Token holders in proportion to their ownership of the total supply.

For more information and regular updates, visit the official website, roadmap, and the Instagram, Telegram, and Twitter channels.

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Busan is Ready to Welcome a Functional Digital Assets Exchange By Then End of 2023

Posted on by Subh Rath

Did you hear? The first meeting of the Busan Digital Asset Exchange Establishment Promotion Committee took place on January 19, according to a local news source. As per this meeting, a decentralized exchange is set to debut in the South Korean city by the end of the year, as was mentioned at the conference.

Busan’s Plan for this Exchange:

The statement states that the purpose of the exchange is to utilize digital tokens to support Busan’s multiple advantages, such as its cultural significance, agricultural production, real estate, and precious metals. The Committee seeks to establish Busan’s exchange into a fine structure unique from those now in South Korea at other virtual asset exchanges.

In addition, the Committee intends to collaborate with the national government to work toward the establishment of a more effective regulatory framework. According to reports, the effort has two distinct objectives in mind. Busan aspires to be fully competitive with hubs like Abu Dhabi and Singapore while simultaneously providing comprehensive protections for investors. Additionally, the Committee is working toward initiating system tests for the exchange as early as February.

Busan’s Partnership Approaches for this Exchange: 

Busan has been working on a city-backed cryptocurrency exchange since last August, when it formed collaborations with Binance, Gate.io, Huobi Global, Crypto.com, and FTX.com (before the latter went bankrupt). A representative for the city of Busan assured Forkast over the phone that the relationships remain strong. 

However, Busan Ilbo, a regional publication, reported on Wednesday that the exchange delayed plans to provide services connected to cryptocurrencies and security token offerings last year to avoid potential conflicts with local regulators.

Adding more to that, only Huobi, through its South Korean subsidiary, was represented among the foreign exchange partners when the steering committee was announced in December.

Stay tuned for more crypto-related news!

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Binance Signs MoU with City of Busan

Posted on by wiredshut2

In an interesting development, the largest cryptocurrency exchange, Binance, has signed a Memorandum of Understanding (MoU) with the City of Busan in South Korea to foster blockchain development. 

Binance, the world’s leading blockchain ecosystem, recently released a Press Release mentioning its plan to foster growth in South Korea using blockchain technology. According to the agreement, the City of Busan will also receive technological and infrastructural support from Binance to develop the city’s blockchain ecosystem and promote the Busan Digital Asset Exchange. The MoU will also include cooperation between the two parties for order book sharing. 

Binance has several plans to develop and foster Busan City’s blockchain sector, such as:

  • Utilizing Busan’s blockchain regulatory-free zone to develop and promote blockchain businesses and initiatives.
  • Support blockchain-related investments and research in the city.
  • Advancing initiatives to promote social well-being using Binance Charity. 
  • To provide specialized blockchain education and digital resources using Binance Academy. 

Binance also mentioned in the Press Release that it would establish its presence in Busan by the end of the year to serve as the driving force for helping the city become one of East Asia’s most active digital hubs. 

The CEO and Founder of Binance, Changpeng Zhao, said,  “We are happy to be working with the City of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts. Through our industry-leading position and technological expertise, combined with the City of Busan’s strong support for the blockchain industry, we hope to help grow crypto adoption within the city and beyond. We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries.” 

The Mayor of Busan, Heong-Joon Park, said, “With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a global integrated platform for digital assets.” 

He added, “By making Busan a blockchain-specialized city that is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub,”

Binance is taking charge and establishing its presence in several regions that have been ignored in the crypto adoption till now. 

WOO Network Completes $30 Million Series A Funding

Posted on by Bob Coiney

Crypto exchange WOO Network has experienced tremendous growth since the year began and the platform has announced more expansion following the recent cash injection. WOO Network recently completed its $30M Series A funding with support from various groups including Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, and Crypto.com Capital. 

AscendEX, AntAlpha, MEXC Global, LBank, Fenbushi Capital, BitMart, 3Commas Capital, TokenInsight Research, AVATAR (Avalanche Asia Star Fund), and ViaBTC Capital were among the investors in the round, which included trading institutions, exchanges, venture funds, and research organizations.

The fundraising round was oversubscribed by 200% and comes after the network announced the launch of WOO X, a unique trading platform that supplies trades with top market liquidity at reduced or no trading fees. Also, WOO recently launched a decentralized exchange platform, WOOFi, which provides the best swap price and lower slippage at reduced fees.

The latest fundraise shows the ambition of the network to expand and become a key player and also demonstrates rising institutional trust in the network and the significant value it adds to the cryptocurrency trading market. According to reports, daily trading volume on WOO platforms has grown from $20 million in early 2020 to an all-time high of $2.6 billion in mid-September.

Reaction from Investors

Darius Sit – Founder and Chief Investment Officer at QCP Capital praised the achievements of WOO X in the little since it was launched and expressed his delight at the future trading release and development. He said, “It is remarkable what WOO X was able to achieve shortly after its launch – top trading experience by combining the best of market depths, trading spreads, and competitive trading fees. We look forward to their upcoming futures trading release, guiding their product development with our expertise in spot, derivatives, and options trading and helping them to grow into the ultimate trading platform they envision to be.” 

Reacting to the recent fundraising, Su Zhu – Co-Founder at Three Arrows Capital sounded positive with the launch of WOO X. He said, “While the exchange landscape is growing more competitive, WOO X is poised to make a mark with its deep liquidity coupled with lower to zero-fee trading – these two propositions are phenomenally useful for institutional and retail traders to achieve superior trading execution.”

The Funds will be Used to Expand the Network

A portion of the new funds will be utilized to expand the company’s global market reach by hiring new personnel and establishing a new R&D regional office in Warsaw, Poland. New product lines like futures, social trading, and a suite of revolutionary DeFi trading and yield producing tools will also receive funding.

Speaking on the use of the newly raised funds, Jack Tan, Co-Founder of WOO Network said, “While WOO X remains the flagship CeFi exchange product of WOO Network, the fundraise allows us to set our sights further and venture deeper into the DeFi space through our suite of swapping and yield-generating products under WOOFi. These efforts will further extend the network’s vision of providing the best-in-class liquidity, trading execution, and yield-generating strategies at lower to no cost across CeFi and DeFi.”