Istanbul, Turkey, June 26th, 2023, Chainwire
Metatime, the blockchain project building a complete Web3 ecosystem that promises users full control over their finances, identity and assets, has announced its native ecosystem token Metatime Coin ($MTC) will be listed for sale on the leading cryptocurrency exchange, Bybit. Alongside the listing, Metatime is pleased to announce that its smart contract infrastructure code has been fully audited by the independent auditing firm Hacken, completing the process with full marks.
The $MTC token, which currently has exactly 415,439 registered users, will go live on Bybit on Monday, June 26 at 10.00 UTC, at which time it will be available for anyone to buy, sell or trade. Investors who bought early during the presale will now be able to sell their $MTC, while those who missed out on early access will now be able to participate in Metatime’s growing Web3 ecosystem.
Earlier this year, Metatime witnessed enormous demand for its token, raising a total of $38 million via two pre-sales of the $MTC token on the world’s biggest crypto launchpad platforms, helping to fund its goal of onboarding millions of new users to Web3. All told, Metatime sold 100 million $MTC at 5 cents, 100 million $MTC at 6 cents, 100 million $MTC at 7 cents and then 200 million $MTC at 10 cents.
The $MTC token is currently deployed on BNB Chain but will migrate to Metatime’s own blockchain with the launch of the MetaChain mainnet on Nov. 11, 2023. For all $MTC investors, relevant information and technical assistance is available through Metatime’s support team.
The official listing of $MTC on Bybit follows the completion of a full audit of Metatime’s smart contract code by the respected independent auditor and testing firm Hacken. The report by Hacken highlighted the “exceptional performance of Metatime’s documentation, code quality, test coverage and security measures”. Metatime achieved a perfect score of 10/10 in the documentation quality category, providing comprehensive functional requirements and detailed technical descriptions. It also achieved a perfect code quality score and, furthermore, demonstrated exceptional test coverage during thorough testing of deployment, basic user interaction and system features.
Metatime’s Web3 ecosystem of products include a comprehensive blockchain network and cryptocurrency exchange, plus NFT marketplace, crypto launchpad, blockchain explorer, wallet and stablecoin. The MetaChain is powered by the Proof-of-Meta consensus mechanism which enables all users to participate in network verification and $MTC mining. Metatime’s upcoming MetaExchange will set a precedent in the industry by not assessing commissions for all trades that close at a loss, while its copytrade features will enable novices to emulate expert traders.
About Metatime
Metatime has emerged as a visionary ecosystem that builds the world of the future, designed from the start to be beneficial to everyone. By completely self-funding its technology development stages, Metatime aims to establish the world’s most comprehensive and transparent ecosystem. Through the development of blockchain-based digital products, Metatime is actively shaping the future today. Metatime continues to innovate and develop a wide range of products such as MetaChain, MetaWallet, Metatime Coin, MetaExchange, and MetaNFT, placing user needs at the forefront and designing from the ground up. By envisioning a future where blockchain becomes accessible to everyone, Metatime leads the way in spearheading the Web 3.0 transformation.
Website | Twitter | Instagram | Linkedin | Discord
Contact
Co-Founder & CEO
Yusuf Sevim
TheNewStandard@Metatime.com
Estonia, Tallinn, June 26th, 2023, Chainwire
Soil, the innovative blockchain-based lending protocol, announces that it has received confirmation from the local financial markets regulator that the planned operations on the Soil Platform are compliant with the jurisdiction’s regulations. This confirmation is a significant milestone for Soil, as it confirms the validity of its business model assumptions.
Soil is building a self-balancing DeFi protocol that will bridge the gap between borrowers (traditional businesses / private debt founds) and lenders (stablecoin holders). Soil will facilitate a debt marketplace where established companies in various industries can raise funds by applying for loans from stablecoin holders.
“We hired several teams of lawyers from different countries and waited for long weeks to receive official confirmation from the local regulator that the activities planned on our Soil Platform are legal”, said Jakub Bojan, CEO of Soil. “Despite this great success, we continue to work and do our best to ensure that our project is at the forefront of the cryptocurrency market and is transparent and safe for our partners and investors around the world.”
Prioritising the need for security on the platform, Soil is not only adapting to current regulations but also to the upcoming revolutionary changes for the cryptocurrency world, namely the EU MICA regulation.
With an innovative business model and solid legal support, Soil is well-positioned to launch an innovative lending system. Soil’s actions will undoubtedly inspire confidence among the investment community and potential partners in the DeFi ecosystem.
About Soil
Soil is a blockchain-based lending protocol that bridges the gap between traditional finance and the crypto world, reshaping corporate debt and fixed-income investments. It is a debt marketplace where established companies can obtain financing, and crypto investors can lend their stablecoins to earn yield derived from Real World Assets that exist off-chain. Soil revenue model profits from fees earned by connecting lenders and borrowers and arbitrage on the cost of capital.
Contact
Jakub
contact@soil.co
Dubai, Dubai, June 26th, 2023, Chainwire
DWF Labs, the global multi-stage Web3 investment firm, has announced a partnership with Algorand Foundation to support the health and growth of the ecosystem built on the Algorand blockchain.
The first component of the partnership involves a $50 million ALGO token purchase agreement to, in part, provide liquidity into the Algorand ecosystem.
An additional MOU has been signed with the aim of allocating funds to support projects that are building on the Algorand blockchain in the spaces of DeFi, Art and Music, Gaming, Oracles and Bridges, and Infrastructure. Projects interested in submitting their pitch can get in contact with DWF Ventures by visiting: http://www.dwf-labs.com/algorand.
Andrei Grachev, Managing Partner of DWF Labs, shared his enthusiasm for this partnership and its potential for revolutionising blockchain innovation, as well as DWF Labs’ commitment to actively participate in the building of the Algorand ecosystem.
“We selected Algorand because of its unparalleled level of technology and security among permissionless DLTs, as well as its leadership in environmental sustainability and social impact. Algorand’s blockchain infrastructure provides the speed and instant finality required for creators, financial institutions and governments to smoothly transition to the new digital economy at scale, in an environmentally responsible manner. This partnership with the Algorand Foundation is another important step in the maturation and growth of innovation in this space,” said Grachev.
About the Algorand Foundation
The Algorand Foundation empowers a dynamic, inclusive, and borderless global ecosystem – at scale – based on the Algorand blockchain technology. Designed by MIT professor and Turing Award winning cryptographer Silvio Micali, Algorand is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism achieves both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.
About DWF Labs
DWF Labs is a global digital asset market maker and multi-stage web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest and support bold founders who want to build the future of Web3.
Contact
Managing Partner DWF Labs
Andrei Grachev
ag@dwf-labs.com
Mooky.io, the adorable and trendsetting meme token of 2023, is making waves in the crypto world with its unique focus on environmental sustainability and community governance. With a commitment to global tree-planting initiatives and inspiring positive change, Mooky.io is revolutionizing the way cryptocurrencies contribute to our planet.
Time is Running Out! Don’t Miss Your Last Chance to Join Mooky Presale – Over $800k Raised!
Mooky.io is excited to announce the final opportunity for investors to participate in its highly anticipated presale. The presale round has already raised over $800k, showcasing the immense interest and confidence in the Mooky.io project.
Investors who don’t want to miss out on this exciting opportunity should act quickly to secure their spot in the presale before it concludes.
Addressing the Big Eyes Rug Pull Incident: A Commitment to Transparency and Investor Protection
It is vital to address the recent rug pull incident involving the project Big Eyes. Big Eyes raised over $40M in funds and added $150k to its liquidity. Unfortunately, they experienced a significant drop of 97%, leading to concerns about a rug pull. The project has reportedly scammed around 30k investors, causing distress within the crypto community.
Mooky.io acknowledges the impact of such incidents on investor trust and emphasizes its unwavering dedication to transparency, investor protection, and fair practices. Unlike the rug pull incident, Mooky.io is committed to building a trusted and secure platform for its investors. The team behind Mooky.io has taken extensive measures to ensure the highest level of security and transparency. All funds raised during the presale will be used to develop the platform and support the mission of global tree-planting initiatives.
Mooky.io: A Helping Hand for Investors Affected by Scams
Mooky.io understands the unfortunate circumstances faced by investors who have fallen victim to scams. With a genuine desire to assist those who have lost funds, Mooky.io is actively reaching out to affected individuals and providing support. The team is dedicated to helping outside investors recover from their losses and regain trust.
Join the Mooky.io Community and Be Part of the change!
Investors and crypto enthusiasts are invited to join the vibrant Mooky.io community and participate in shaping the future of this groundbreaking project. By prioritizing environmental impact, community governance, and investor protection, Mooky.io aims to restore faith in the crypto space and create a platform that stands out from the rest.
To learn more about Mooky.io and to participate in the presale, visit their official website at www.mooky.io. Engage with the Mooky.io community on social media channels to stay up to date with the latest news and developments.
About Mooky.io
Mooky.io is the cutest and coolest meme token of 2023, pioneering a new wave of environmentally conscious and community-governed cryptocurrencies. With a focus on global tree-planting initiatives and decentralized decision-making, Mooky.io aims to inspire change and create a positive impact in the crypto space.
Tortola, British Virgin Islands, June 21st, 2023, Chainwire
Struct Finance, a DeFi platform that enables investors to engage with tailored structured financial products linked to digital assets, today announced the mainnet launch of its innovative Interest Rate Vaults and unique tranching mechanism. Amid the highly volatile crypto industry, users can now invest in products tailored to their risk-return preferences, providing predictable and diversified returns.
Structured financial products are innovative investment instruments that are derived from and linked to underlying on-chain or real-world assets. They utilize a variety of credit/risk, liquidity, and maturity transformation techniques to achieve specific investment objectives. Offering risk-return dynamics that deviate from the underlying assets, these investment products appeal to a broad array of investors. On Struct Finance, different tokens, tokenized derivatives, vaults, pools, and protocols interface in a permissionless manner to craft new products, tailored according to the investor’s risk appetite.
“Traditional financial products aren’t permissionless to use or create. In fact, they are largely inaccessible to most people. We are making these structured financial products accessible and easy to understand for everyone. Our mission at Struct is to bring the power of such products to investors with all risk appetites, from the risk-averse newcomer to the seasoned crypto native. That’s why we are launching Interest Rate Vaults as the first in our line-up of tailored financial products,” said Miguel Depaz, one of the Co-founders of Struct Finance.
The new Interest Rate Products allow anyone to split and repackage the risk of any yield-bearing DeFi assets in different parts to fit their risk profile through an innovative process called “tranching.” Every Interest Rate Product is a single vault split into two portions, or tranches that have different return configurations:
- A Fixed-return Tranche for conservative investors looking for consistent returns
- A Variable-return Tranche for investors with a higher risk appetite seeking superior returns
The yield from the underlying asset flows into the fixed tranche first to ensure predictable returns. The remainder is then allocated to the variable tranche, which gets enhanced exposure to the underlying yield-bearing asset. Compared to the fixed tranche, the variable tranche might accrue more yield, less yield, or no yield. Interest Rate Products allow conservative investors looking for fixed yield to get protection from risk-on investors looking for higher yield.
The unique ‘tranching’ system allows users to select from Fixed or Variable Tranches according to their risk appetite. Tranching essentially enables institutional liquidity and crypto degens to provide liquidity for each other. For secure operations, Struct has set an initial limit per tranche, with a commitment to gradually raising these caps over time.
Struct Finance will also launch the Struct Factory – a capability not offered by any of its competitors – to let investors craft their own structured financial products on-chain according to their unique needs. Notably, these custom products will not only serve the creators but will also be available for others to utilize, fostering a more inclusive and adaptable financial environment. This innovative feature will allow you to design your own Interest Rate Product using assets like USDC, BTC.b, AVAX, or WETH. Struct Finance provides backtesting support to assist you during the product creation process.
The lack of fixed-yield returns in crypto has been a deterrent to entry of both larger institutions and smaller players with more conservative risk appetites. Considering the Struct Factory allows permissionless tranching of liquidity pools, fixed rate returns may become commonplace enough to tame the wild and volatile returns of Web3. Once unlocked, fixed rate returns have the power to pave the way for institutional liquidity to safely step into the DeFi without compromising the core tenets of decentralization.
Struct Finance is integrating with GMX and leveraging GMX’s Liquidity Provider Token (GLP) to generate predictable yields in the form of Fixed and Variable Returns for its users. GMX is a pioneering decentralized exchange known for its innovative features and capabilities, including the GLP token. This token represents a significant breakthrough in the industry and is currently a central part of GMX’s trading system.
By utilizing GLP, Struct Finance provides users with a fixed and variable yield while simultaneously offering liquidity to GMX through the GLP token. This integration enables Struct Finance to optimize returns for its users while supporting the liquidity needs of the GMX platform.
About Struct Finance
Struct Finance is at the forefront of the DeFi revolution, with a vision to transform the design and utility of financial products. It empowers users to design their own financial instruments, harnessing the power of tokenized, yield-bearing positions to unlock a world of diverse investment opportunities. Moreover, its cutting-edge financial products adopt a tranche-based system, smartly distributing yield between different investor classes. This balanced approach guarantees a steady yield for risk-averse investors while also offering the prospect of heightened returns to the more adventurous. Initially available on Avalanche, Struct Finance plans to go multichain in the near future.
For more information, visit: Website | Twitter | Discord | Telegram
Contact
Miguel Depaz
media@struct.fi
Last week, the UK government announced the delay in implementing rules banning multi-buy deals on foods and drinks high in fat, salt, or sugar – including buy one, get one free (BOGOF) deals. The rules, set to come into effect this October, have been pushed to October 2025 to allow for public participation and to “allow the government to continue to review the impact of the restrictions on the consumers and businesses”, the press statement reads.
Since being tabled in the House, the rule has raised a lot of debate amongst the members of parliament and the public. The idea of doing away with BOGOF and multi-buy deals aims to reduce the obesity rates in the country and, in effect, reduce the risk of weight-related diseases. Nonetheless, several MPs and the wider public have come out strongly to oppose the rule, with one simple rule of their own– “it is not the government’s prerogative to police what people eat!”
‘Self-responsibility over government control’
While the rule aims to reduce the overall calorie intake across the UK population, one study by the Department for Health and Social Care (DHSC) shows the law will reduce the overall calorie intake across England. According to the analysis, if the rule is implemented, children under 10 are expected to reduce their daily calorie intake by only 2.5 calories, adults are expected to consume 2.8 to 3.7 fewer calories daily, and those over 65 could see a 2.6 calorie difference. While a step forward, the effects may be minimal.
The data above raises the question if government control over foods and drinks is useful or detrimental to the population, given BOGOF and multi-buy deals help people save some money. As Ben Bradley, the Tory MP for Mansfield, said:
“It’s not the Government’s job to make people thin – it’s our own personal responsibility. Ministers should keep their hands off people’s BOGOFs.”
Instead of policing what people buy and eat, the UK government should find ways to promote exercising and keeping fit. Alternatively, the government should reward the self-responsibility of keeping fit and exercising to encourage physical activities instead of banning multi-buy or BOGOF deals.
Better health solutions on the horizon
Unsurprisingly, the UK government wishes to ban BOGOF deals on fatty, sugary and salty foods. The rise of weight-related diseases is becoming an epidemic – the Health Survey for England 2021 estimated that 25.9% of adults in England are obese, and a further 37.9% are overweight but not obese. This raises the risk of chronic diseases such as diabetes, heart failure and poor blood circulation.
Nonetheless, there are better ways to reduce obesity and overweight rates than banning BOGOF and multi-buy deals. One of the most innovative ways to get people to exercise is simply by incentivising them. As Jessica Butcher, CMO of Sweatcoin/Sweat Economy, a move-to-earn app that rewards users for walking consistently, stated on the latest BOGOF rule:
“Maybe instead of removing choices that save people money, or penalising unhealthy choices, they should consider more seriously the prospect of incentivising healthier choices – whether that’s reducing taxes on healthier food options, or more powerfully, incentivising them to be more active – an approach that could result in life-long positive habit change.”
Move-to-earn apps offer a better solution to the burgeoning rates of obesity. One such solution is Sweatcoin, which in partnership with the NHS, has demonstrated the efficacy of this approach. By incentivising users with vouchers and rewards, users increase their step count, reducing the risk of conditions such as diabetes, obesity and cardiovascular disease.
According to research from the Sweatcoin team, on average, users on the platform lose 3kgs in weight and become 45% more active. By promoting such solutions nationwide, the government could save billions spent on preventable health conditions.
Final words: Promoting self-responsibility in personal health
As the latest debates across England show, the banner of “self-responsibility over government control” rises the highest. It is not the government’s role to dictate what people eat but rather encourage individuals to take charge of their health. By shifting the focus towards promoting exercise and fitness, the UK government can empower individuals to make healthier lifestyle choices. Instead of banning multi-buy deals, the government could explore reward systems and incentives for engaging in physical activities.
While banning BOGOF deals is a step in the right direction, it may not be the most effective solution. Better health and technological alternatives are emerging, such as move-to-earn apps, which incentivize users to increase their physical activity and make positive habit changes – a longer-term effect than BOGOF bans.
Ultima, the powerful cryptocurrency ecosystem, has made a groundbreaking move by introducing a platform that offers an astounding 100% cashback for purchases. This platform sets Ultima apart from both traditional and crypto markets, providing users with an opportunity to receive a significant portion of their spent money back within a specified timeframe. The Ultima Cashback platform is a game-changer, revolutionizing the way buyers are rewarded for their purchases.
Developed by the world’s leading blockchain dev team, Ultima offers a range of innovative products and services that are not only distinct in the crypto market but also cater to the everyday needs of cryptocurrency users. With its advanced global infrastructure, Ultima aims to transform the way people interact with cryptocurrency worldwide, enabling instant cross-border payments in crypto.
The Ultima ecosystem encompasses an array of products and services that add value to users’ crypto experience. Ultima Store serves as a seamless e-commerce platform that enables users to online shopping and use cryptocurrencies as payment.
Furthermore, users of Ultima Store can take part in its cashback program. Get a license and receive the cashback for Shopping Vouchers. You can get up to 100% cashback in ULTIMA for purchasing Shopping Vouchers. The ULTIMA Cashback platform is incredibly simple, requiring no technical expertise. Users can easily track the status of each cashback transaction through their personal account, ensuring a transparent and user-friendly experience. The cashback transactions take place securely on the SMART BLOCKCHAIN, and users have the flexibility to assign their preferred wallet for receiving the cashback.
ULTIMA Card is among the most amazing products of the ecosystem. It is a crypto debit card that allows users to make purchases with various cryptocurrencies in nearly any country worldwide. Supporting major cryptocurrencies like ULTIMA, SMART, Litecoin, Bitcoin, Bitcoin Cash, Ethereum, USDT, EOS, and BAT, the ULTIMA Card offers convenience and accessibility to thousands of users globally. The card supports multiple account currencies, including euro, dollar, pound, Chinese yuan, and Japanese yen, with a generous account limit of 150,000 euros.
Ultima Travel Club is another remarkable offering, providing a subscription-based travel platform that enables users to search and book flights, hotels, cruises, and car rentals at exclusive discounts. With the ULTIMA Travel Club, users gain access to a vast selection of options, saving up to 90% on their travel expenses. The platform boasts a comprehensive range of offerings, including 2.5 million hotels and villas, 950 cruise lines, major car rental agencies, and over 300,000 activities in more than 150 countries. This upcoming product is set to revolutionize the way people travel.
As Ultima continues to expand its ecosystem, it is actively developing an advanced crypto-exchange called UltimEx Exchange, ensuring high liquidity and global accessibility for cryptocurrency trading.
Furthermore, Ultima takes pride in its commitment to supporting charitable initiatives and startups. Through the Charity Crowdfunding and StartUp Crowdfunding platforms, set to be launched in the near term, Ultima will provide a trustworthy environment where people and startups can promote and fund their ideas. These platforms leverage blockchain transparency to enhance trust, accountability, and efficiency, fostering a win-win scenario for both project creators and supporters.
With over 2,500,000 users worldwide, Ultima continues to redefine the crypto landscape by offering innovative solutions and unparalleled opportunities. Its remarkable cashback program, combined with a suite of cutting-edge products and services, positions Ultima as a leader in the cryptocurrency ecosystem, revolutionizing the way people engage with digital currencies and making everyday life more accessible and rewarding for users worldwide.
London, United Kingdom – MineLab Limited, a leading cryptocurrency cloud mining company, is proud to announce the launch of MineLab.bz, a cutting-edge platform that utilizes artificial intelligence (AI) to revolutionize the mining process and deliver substantial daily returns to its users.
Cryptocurrency mining has traditionally been a complex and resource-intensive process, requiring specialized hardware and significant energy consumption. MineLab.bz changes the game by leveraging AI technology to optimize mining operations, significantly improving efficiency and profitability.
Through its advanced AI algorithms, MineLab.bz optimizes mining strategies in real-time, taking into account factors such as network difficulty, coin prices, and market trends. This dynamic approach allows for the identification of the most profitable coins to mine at any given moment, ensuring maximum returns for users.
“We are excited to introduce MineLab.bz to the cryptocurrency mining industry,” said Alfie Hutchinson, CEO of MineLab Limited. “Our platform represents a paradigm shift in cloud mining, combining the power of AI with the potential of cryptocurrencies. We aim to provide a user-friendly, secure, and highly profitable solution for individuals and businesses looking to participate in cryptocurrency mining.”
MineLab.bz offers users the opportunity to join their cloud mining network and start earning daily returns of up to 3%. The platform caters to both experienced miners and newcomers, providing a streamlined and user-friendly interface that requires no technical expertise. Users can easily create an account, deposit funds, and begin mining within minutes.
To ensure the utmost security, MineLab.bz implements state-of-the-art encryption protocols and multi-factor authentication, safeguarding users’ investments and personal information. Additionally, the platform is backed by a team of experienced professionals in the fields of cryptocurrency, blockchain, and AI, dedicated to providing excellent customer support.
As a London-based company, MineLab Limited is committed to upholding the highest standards of transparency and regulatory compliance. The company operates in accordance with all applicable laws and regulations, further enhancing trust and confidence in its services.
For more information about MineLab.bz and to start earning daily returns through cloud cryptocurrency mining, please visit https://www.minelab.bz.
About MineLab Limited
MineLab Limited is a leading cloud cryptocurrency mining company based in London, United Kingdom. The company leverages artificial intelligence to optimize the mining process and deliver substantial daily returns to its users. With a commitment to transparency, security, and innovation, MineLab Limited aims to redefine the cloud mining industry and empower individuals and businesses to participate in the cryptocurrency revolution.
Media Contact:
Jennifer Thompson
Public Relations Manager
MineLab Limited
Email: press@minelab.bz
New York City, New York, June 15th, 2023, Chainwire
OKX, a leading Web3 technology company, yesterday hosted a panel discussion with McLaren Racing at the Tribeca Festival titled, “Need for Speed: How Technology Powers Change in Sports, Movies, and Crypto,” featuring OKX Chief Marketing Officer Haider Rafique, McLaren Racing Chief Executive Officer Zak Brown, McLaren F1 Driver Lando Norris, and director, producer and screenwriter Stephen Kay.
The panel, moderated by Emmy-nominated filmmaker and Webby Awards Founder Tiffany Shlain, was held at the Tribeca Screening Room and focused on how technology has transformed various industries, including sports, entertainment, cryptocurrency and finance. During the discussion, the panelists emphasized the impact of innovation on speed, performance and efficiency across the different sectors.
OKX Chief Marketing Officer Haider Rafique said: “We’ve achieved a lot together in just one year. The McLaren F1 team has a huge appetite to lean into Web3 and make its heritage more discoverable for younger generations, and we want to play a big role in making that a reality for them. There are incredible stories here that can motivate the next generation of drivers and fans to get involved with the sport and, in particular, celebrate McLaren’s achievements on and off track. Our goal is to help McLaren transcend into this future and share what we are cooking together on our panel”.
McLaren Racing CEO Zak Brown said: “This panel was a great opportunity to share the stage with our Primary Partner OKX, and discuss how technology can power change in our respective industries. In Formula 1, we constantly look to innovate and leverage technology to maximize our fan engagement opportunities. Partners like OKX can support us in these commitments, exploring how they can guide our Web3 strategy and make our sport ever-more exciting and accessible for the fans.”
OKX CMO Haider Rafique (left) and McLaren F1 Driver Lando Norris (right)
McLaren Racing CEO Zak Brown (in orange, left) and McLaren F1 Driver Lando Norris (in orange, right) with OKX CMO Haider Rafique
Tribeca Festival 2023 is OKX’s second consecutive year as the presenting sponsor. The company’s multi-year partnership with Tribeca Festival aims to unlock new Web3 opportunities for creators, fans and talent. OKX also introduced the first-ever Tribeca Festival NFT pass for 2023 in January.
In May of last year, OKX and McLaren Racing announced a multi-year partnership that would make OKX a Primary Partner of the McLaren Formula 1 Team and McLaren Shadow esports team. Through this partnership, OKX supports the team’s global fan experience, providing exciting opportunities and product innovations that bring fans closer to the action. OKX branding is featured on the McLaren cars, the helmets of McLaren F1 drivers Lando Norris and Oscar Piastri, as well as the McLaren F1 and McLaren Shadow team kits.
About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including the OKX Wallet, NFT Marketplace and DEX.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology to replace existing centralized systems.
To learn more about OKX Web3, download our app or visit: okx.com/web3
About McLaren Racing
McLaren Racing was founded by racing driver Bruce McLaren 60 years ago in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.
McLaren Racing competes across five racing series. In 2023, the team will compete in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Felix Rosenqvist and Alexander Rossi, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers René Rast and Jake Hughes, and the Extreme E Championship with NEOM McLaren Extreme E Team drivers Emma Gilmour and Tanner Foust. The team also competes in the F1 Esports Pro Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships.
McLaren is a champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry.
McLaren Racing – Official Website
About the Tribeca Festival
The Tribeca Festival, presented by OKX, brings artists and diverse audiences together to celebrate storytelling in all its forms, including film, TV, immersive, games, audio storytelling, music, and online work. With strong roots in independent film, Tribeca is a platform for creative expression and immersive entertainment. Tribeca champions emerging and established voices; discovers award-winning filmmakers and creators; curates innovative experiences; and introduces new technology and ideas through premieres, exhibitions, talks, and live performances.
The Festival was founded by Robert De Niro, Jane Rosenthal, and Craig Hatkoff in 2001 to spur the economic and cultural revitalization of lower Manhattan following the attacks on the World Trade Center. Tribeca will celebrate its 22nd year from June 7–18, 2023.
In 2019, James Murdoch’s Lupa Systems, a private investment company with locations in New York and Mumbai, bought a majority stake in Tribeca Enterprises, bringing together Rosenthal, De Niro, and Murdoch to grow the enterprise.
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your risk tolerance and financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
Contact
Press
media@okx.com
Dubai, United Arab Emirates, June 15th, 2023, Chainwire
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced that OKX Middle East Fintech FZE (OKX Middle East) has received a Minimal Viable Product (MVP) Preparatory license from the Dubai Virtual Assets Regulatory Authority (VARA).
The UAE is a key strategic growth and business hub for OKX globally and in the region, and the company plans to scale OKX Middle East’s operations. As part of this effort, OKX has opened a new office in Dubai World Trade Center, and will seek to expand its number of Dubai staff to 30 with a focus on local hires and senior management. OKX also plans to extend its nine-figure brand partnerships to the UAE with customer and fan-focused activations and activities.
The MVP preparatory licence allows approved licensees to fulfill all pre-conditions required to undertake MVP operations within the VARA regime. Once licensed to be operational, OKX Middle East will be able to extend its approved suite of duly regulated virtual assets activities and will provide spot, derivatives, and fiat services, including USD and AED deposits, withdrawals and spot-pairs, to institutional and qualified retail customers.
OKX Global Chief Commercial Officer Lennix Lai said: “We’re thrilled to receive the MVP preparatory license from VARA. Regulated entities are the future of digital assets and capital markets and Dubai and VARA have succeeded in creating a unique environment where VASPs can thrive. With the expansion into a new office this year, we are focused on hiring local staff and senior management. The MENA region has incredible potential as a center of excellence for Web3 and virtual assets, we look forward to the opportunity to expand the already growing ecosystem across the region.”
OKX Global Head of Government Relations Tim Byun said: “Dubai and VARA are world leaders in crypto regulation by establishing the most timely, comprehensive and built from-the-ground-up framework for virtual assets and Web3. Licensing in Dubai is a critical element of OKX’s global regulatory compliance strategy. In today’s uncertain market environment, it’s of the utmost importance for VASPs to be highly secure, transparent, compliant and backed by strong, clear regulation. Under VARA’s comprehensive framework, all operators must meet high standards of compliance, risk management, security and consumer protection, benchmarked against well-known existing regulatory principles for traditional financial services. This provides confidence to operators and customers alike, and positions the crypto and Web3 industry in MENA for increased participation and overall growth in the near and long term.”
OKX Chief Marketing Officer Haider Rafique said: “We’ve been waiting to enter the UAE and we want people here to experience our products first hand. We’re different – we do things in a measured and transparent manner. May was our seventh consecutive month of publishing our proof of reserves, making us the only crypto exchange globally with that commitment. We’ve done that while out-innovating the industry in Web3 with our leading decentralized ecosystem. We’ve also launched numerous new security features while adding more depth in markets. This attitude is consistent with the brand partners who represent us, Manchester City Football Club, McLaren Racing, and the Tribeca Festival. We take our time, and do things the right way.”
For more information on OKX, please visit OKX.com.
About OKX
OKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.
OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
About VARA
Dubai Virtual Assets Regulatory Authority [VARA] is the world’s first specialized regulator for the Virtual Assets sector. Established in March 2022, following the effect of Law No.4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA activities in all zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre.
VARA plays a central role in creating Dubai’s advanced legal framework to protect investors and establish international standards for Virtual Asset industry governance, while supporting the vision for a borderless economy.
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
Contact
Marc Rognon
media@okx.com