LANRE
@ridkid
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Visa, a payments technology company, has unveiled a new product named Visa Tokenized Asset Platform to revolutionize the banking sector, whereby banks can issue and manage fiat-backed tokens such as stablecoins on blockchains. VTAP, set to launch in 2025, represents a significant advancement in utilizing blockchain technology for everyday financial transactions.
The platform will empower banks to carry out digital token operations, including minting, burning, and transferring stablecoins, as part of digital asset management strategies. Through VTAP, Visa will help promote higher efficiency and integration within the banks’ approach to supporting digital commerce and meeting customers’ growing needs for seamless and innovative solutions in the digital environment. 0 reply
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Since the beginning of September, Ethereum has shown clear signs of recovery after a long period of decline. According to new data, ETH has risen by 4 %, surpassing the $2,600 mark. This increase, following a prolonged downtrend that began in March 2023, seems to be restoring investor confidence. Ethereum is reconnecting with positive momentum, and the market seems ready to push the price even higher. As a result, investors are now focusing on the $2,800 resistance, a crucial level that could pave the way for a more marked increase. 0 reply
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Bybit Launches Shariah-Compliant Crypto Accounts for Muslim
Bybit, a cryptocurrency exchange, has launched new crypto products that follow Islamic finance rules or Shariah,
Bybit's Shariah-Compliant Crypto Accounts
Bybit’s Shariah-Compliant Crypto Accounts, Source: Twitter
On September 24, 2024, co-founder and CEO Ben Zhou announced the creation of a dedicated Islamic account, which would allow users to spot trade Shariah-compliant tokens, automated trading tools like a dollar-cost averaging (DCA) bot, and a spot grid bot.
These tools are specifically designed to allow users to invest in a manner that adheres to the ethical and religious requirements of Islamic law.
To assure compliance, Bybit worked with Zico Shariah, a Malaysia-based advising company that specializes in Islamic finance. According to Bybit, this partnership has allowed them to develop products that meet the stringent requirements of Shariah law, which governs permissible investments and trading practices for Muslims. 0 reply
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