Crypto Lending Firm Delio Under Investigation by Regulators
The Financial Services Commission (FSC) of South Korea is currently investigating Delio, a cryptocurrency loan company, as of June 30th. Before suspending transactions earlier this month, Delio claimed it had no affiliation with Haru Invest, a struggling lending firm. The Commission accuses Delio of committing fraud, embezzlement, and breaching trust by unilaterally halting user deposits […]
CME Group Set to Introduce ETH to BTC Ratio Future
The Chicago Mercantile Exchange (CME) Group has announced its plan to introduce Ether/Bitcoin ratio futures on July 31, pending regulatory approval. This new product allows traders to speculate on the price movements between these two popular cryptocurrencies. CME Group’s ether futures will determine the settlement of these futures contracts by dividing their final prices with […]
Six Clovers Rolls Out Versal Network for International Payments
Six Clovers, a fintech company founded by ex-PayPal employees in 2021, has introduced the Versal Network. The Sui blockchain is the foundation of this network, which aims to enhance the speed, security, and efficiency of cross-border payments . Borderless Capital, BCW Group, and Grupo Supervielle have made investments in Six Clovers. The Six Clovers API […]
Mastercard To Build Blockchain App Store for Financial Apps
Mastercard plans to launch a “Multi Token Network” (MTN) in beta, offering developers access to powerful tools for creating innovative payment applications. Raj Dhamodharan, the Executive Vice President and Head of Cryptocurrency and Blockchain at Mastercard, described MTN as an “app store powered by blockchain technologies for building regulated financial applications.” The developers will build […]
Germany’s BaFin Rejects Binance Crypto Custody License
Binance, a major cryptocurrency exchange, recently faced setbacks in pursuing licenses and regulatory approvals in Europe. The German financial regulator, BaFin, reportedly denied Binance’s request for a cryptocurrency custody license . Binance claims to be working towards complying with BaFin’s rules. However, it is still being determined whether they communicated this refusal through ongoing conversations […]