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Crypto.com obtains a South Korean licence following key acquisitions

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Crypto.com obtains a South Korean licence following key acquisitions


Crypto.com has obtained two licences in South Korea after acquiring two startups in the country.

Cryptocurrency exchange Crypto.com announced that it had acquired two companies in South Korea in a bid to expand its presence in the Asian country. 

The company announced today, August 8th, that it had acquired South Korean payment service provider PnLink and virtual-asset exchange OK-BIT. 

The acquisitions mean that Crypto.com has secured registrations under South Korea’s Electronic Financial Transaction Act and as a virtual-asset service provider.

While commenting on this latest development, Kris Marszalek, Crypto.com’s co-founder and CEO, said;

“We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies.”

Crypto.com’s chief operating officer Eric Anziani added that the cryptocurrency exchange is trying to bring its offerings to the Korean market, and also work with partners here that are at the forefront of gaming and entertainment.

Crypto.com has been around since 2016 and is one of the leading cryptocurrency exchanges in the world. The exchange has more than 50 million customers worldwide and already holds licenses in Singapore, Dubai, Italy, Greece and Cyprus.

Cryptocurrency exchanges are known to obtain local licences by acquiring startups in the countries they intend to operate. 

In the United Kingdom, Binance and Bitpanda acquired smaller startups that were registered under the UK’s Financial Conduct Authority’s anti-money laundering regime. Thus, allowing the crypto exchanges to operate successfully in the UK

Patrick Yoon, General Manager, South Korea of Crypto.com, also commented that;

“We believe our services can not only help further evolve and empower commerce in Korea but also support the greater creation and development of our Web3 ecosystem. Korea is a tremendously important market for Crypto.com in advancing blockchain technology.”

The crypto exchange said it has already received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority and a few others.



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Deutsche Telekom to run Ethereum validator node

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Deutsche Telekom to run Ethereum validator node


  • Deutsche Telekom will run an Ethereum validator node via its subsidiary T-Systems Multimedia Solutions and has also partnered liquid staking pools provider StakeWise.

German telecom giant Deutsche Telekom has announced support for the Ethereum network, revealing plans to run a validator node on the world’s largest proof-of-stake (PoS) blockchain.

An announcement from the telecommunications giant on Thursday stated that the company move is part of its wider objective of expanding its activities across the blockchain technology and crypto ecosystem.

Deutsche Telekom joins Ethereum staking

According to Deutsche Telekom, its validation infrastructure will be handled by its subsidiary, T-Systems Multimedia Solutions (T-Systems MMS). T-Systems MMS will thus operate a validator node on Ethereum, taking part in the network’s staking mechanism.

Deutsche Telekom also announced that its subsidiary would be partnering liquid staking pools provider Stake Wise, this marking the telco’s entry into liquid staking. 

The StakeWise app allows ETH holders to participate in network validation without having to operate a validator node themselves. This in turn lowers the entry barrier for anyone looking to invest in the cryptocurrency.

After collaborating with Flow, Celo and Polkadot, we are now taking the next decisive step in the blockchain world and are doing pioneering work here with Ethereum. As a node operator, our entry into liquid staking and the close collaboration with a DAO is a novelty for Deutsche Telekom,” said Dirk Röder, Head of Blockchain Solutions Center at T-Systems MMS.

The German telco behemoth’s move comes a few weeks after Ethereum successfully transitioned from the proof-of-work mechanism used on the Bitcoin network.

The Merge, as the Ethereum software upgrade that ushered in the PoS mechanism was called, is set to see energy consumption for Ethereum fall by 99.95% – making the blockchain a more eco-friendly network.



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LATAM startup raises $4.3 million to accelerate Web3 growth

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LATAM startup raises $4.3 million to accelerate Web3 growth


Minteo’s $4.3 million seed round attracted the backing of Fabric Ventures, OpenSea Ventures, Dune Ventures, CMT Digital, among other investors across crypto and Web3.

Latin America-based NFT marketplace Minteo has closed a $4.3 million seed funding round contributed to by a wide range of investors across the ecosystem.

Minteo secured the funding from notable venture capital players and angel investors, including Fabric Ventures, CMT Digital, OpenSea Ventures, Impatient VC, Dune Ventures, and Susquehanna Private Equity Investments.

Others who participated were SevenX Ventures, FJ Labs, Big Brain Holdings, G20 Ventures, Zero Knowledge, Alliance DAO, and AngelDAO. A host of leading angel investors also participated, the startup noted in a press release.

Web3 for the Latin America region

Minteo, which is now backed by some of the marquee names in the Web3 investment space, plans to use the capital injection to boost its development and reach across the Latin America region.

The startup’s mission is to introduce the region to Web3 and help onboard millions of via NFTs.

Latin Americans love art, music, dancing, and socializing. This is engrained in the fabric of our community,” said Santiago Rodriguez, co-founder and Chief Executive Officer, Minteo.

Through Minteo’s NFT platform, Latin Americans will now be able to celebrate these incredible aspects of our culture. We truly believe that the region is ready for increased Web3 adoption, and the net effect it will have for many creators and communities will be life-changing,” he added in a statement.

Latin America is one of the regions with the fastest growing community of cryptocurrency and blockchain ecosystem users. Countries such as Brazil, Mexico, Argentina and Colombia are seeing massive numbers in terms of crypto adoption – and NFTs are the new frontier.

Minteo is thus looking to make inroads in the LATAM market through user-friendly mobile app, built-in self-custodied wallet, and support for local payment methods among other features.



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Facebook and Instagram users can now cross-post NFTs

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Facebook and Instagram users can now cross-post NFTs


  • Facebook and Instagram users can connect their digital wallets to either app, and share or cross-post NFTs.

Meta, the parent company of social media platforms Facebook and Instagram, has today expanded the digital collectibles functionality on the two platforms.

An update the company provided on 29 September states that all users on both Facebook and Instagram apps can now share and cross-post their digital collectibles. 

Share NFTs across Facebook and Instagram

According to the announcement, once users connect their wallets to either app, they can share NFTs on Facebook to their account on Instagram.

The cross-posting and sharing is available for users in the United States as well as across all of the 100 countries where Meta supports digital collectibles on Instagram. Users can post or share digital collectibles at no fees.

Meta first announced support for NFTs on its Instagram in May this year, before expanding that to Facebook.

An international expansion of the digital collectibles feature for users in Africa, Asia-Pacific, the Middle East, and the Americas in August brought the support to 100 countries. The company also added wallet support for Coinbase Wallet and Dapper, on top of earlier support for Rainbow, Trust Wallet, and MetaMask.

The feature also expanded to three blockchains – Ethereum, Polygon and Flow.





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