Welcome back to Altcoins at a Glance. We know you are still patiently waiting for the bull run, despite uncertain market movements. We also know that aside from your portfolio, you are also keeping a close eye on crypto news, especially on your favorite altcoins. Keeping track takes a lot of time, so we decided to summarize some of the most important news.
Let us get to it.
Shibarium ID
- The Shibarium ID is launching this October
- Shibarium ID is a new feature that allows users to register and manage their Shib domain names in the Shibarium layer 2 networks.
- It is designed to be user user-friendly and a secure way for users to pass KYC (Know your customer) /AML (Anti-money laundering) verification systems.
- The project aims to create a universal name service that bridges decentralized identities with the physical world.
- The project has plans to support Web3 domains as well.
- There are also plans to integrate with ETH, BNB, and Arbitrum.
Crypto.com Partners with Paypal’s PYUSD
- Crypto.com, a Singaporean-based cryptocurrency exchange, will be offering PYUD on its platform.
- PYUSD is PayPal’s new stablecoin.
- Crypto.com currently has the deepest liquidity for PYSUD trading pairs, according to the exchange.
- PYSUD is issued by Paxos.
Google Cloud is Now a Polygon Validator
- Google Cloud is now part of the decentralized validator set for Polygon’s Proof-of-Stake (Pos).
- The collaboration is a reflection of Google Cloud’s continued commitment to Web3.
- A validator helps to secure the network, maintain its integrity, and achieve consensus among all nodes
- Polygon PoS Network now has more than 100 validators. Europe’s Telecom giant Deutsche Telekom joined earlier this year.
Valkyrie Gets ETH x BTC Futures ETF
- Valkyrie, a major asset manager, has received approval for the proposed conversion of its existing Bitcoin Futures ETF into a 2-fo-1 investment instrument.
- The new ETF will be called the Valkyrie Bitcoin and Ethereum Strategy ETF. It will have a ticker symbol of VBTC.
- It will be the first ETF in the US to have exposures to both BTC and ETH.
- The SEC approval came as a surprise to the crypto community since it delayed several ETF proposals.
Do you think there will be more 2-in-1 ETFs with other altcoins?
Bybit Halts UK Service
- Crypto exchange Bybit has halted its service in the United Kingdom.
- This decision came as new rules were introduced by the UK Financial Conduct Authority (FCA)
- The FCA requires crypto firms, like Bybit, to comply with certain standards by October 8, 2023, or face chargers.
- The move is temporary as the exchange is working towards regulatory compliance.
- To comply with the FCA rules, Bybit is actively reviewing the registration process to comply with AML and KYC regulations.
- The exchange will also improve security to protect user data and assets.
That is all for the week. Please subscribe to our Twitter/X page to be updated with the latest news. See you
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