Category Archive : Europe

Web 3.0 Blockchain Global Market Forecast Report to 2027, Featuring Profiles of Key Players Polkadot, Helium Systems, Ocean Protocol Foundation, Decentraland, Flux, Filecoin, Kadena and ZCash

Dublin, May 25, 2022 (GLOBE NEWSWIRE) — The “Global Web 3.0 Blockchain Market, By Blockchain Type, By Application, By Vertical, By Organization Size, By Region, Competition Forecast and Opportunities, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.

The global web 3.0 blockchain market is anticipated to grow at a formidable rate during the forecast period. The market growth can be attributed to the continuous evolution of technologies and shifts in data ownership toward users. Web 3.0 blockchain, also known as the decentralized web, is the third internet generation that utilizes decentralized ledger technology (DLT), machine learning (ML), and Big Data.

Web 3.0 blockchain provides users an enhanced browsing experience and enables them to analyze data more efficiently. Web 3.0 is more user-friendly and interactive than previous versions. Leading government authorities are launching digital transformation initiatives to provide a regulatory framework for supporting the growth of the Web 3.0 blockchain.

Rising concerns related to data security and increasing investments from companies to expand the applications of web 3.0 blockchain are expected to drive the global web 3.0 market growth. Rapid urbanization, globalization, and digitalization are enabling users to utilize advanced technologies and lead a quality life. Blockchain technology offers system human-like intelligence and provides enhanced data connectivity. Hence, organizations are adopting web 3.0 blockchain to improve data security and privacy, which is expected to boost the global web 3.0 blockchain market.

The rapid popularity of digital assets and cryptocurrencies and the rollout of 5G and 6G technologies are also creating a demand for web 3.0 blockchain technology. Furthermore, the growing adoption of connected devices and shifting dependency of transactions and permissions away from a central authority are driving the growth of the global web 3.0 blockchain market.

The…

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Panoptic Media says Crypto set to be biggest influence on casinos in 2022

LONDON, May 25, 2022 /PRNewswire/ — Two of the major current topics in American commerce are set to combine to make for one of the biggest trends affecting America’s economy in 2022, according to a number of tastemakers including igaming experts at Panoptic Media.

Speaking in light of an increase in availability of gambling nationwide since the start of this year, Paul Kelly of Panoptic stated: “The conditions are perfect for US gambling and cryptocurrencies to become inextricably linked as we move forward. Unlike much of the West, the USA has been a very recent convert to gambling, especially online. That means that there are very few set parameters for how people expect sportsbooks and casinos to look. With Bitcoin and other cryptocurrencies also attracting attention, it’s a perfect storm.

While the conditions do indeed seem opportune for potential crypto gamblers and businesses aiming to become the best Bitcoin casino, it’s nonetheless considered that any steps taken should be cautious ones to begin with. Recent heavy weather in the markets has left Bitcoin facing longer and deeper drops than ever, and altcoins are also falling against the dollar.

“As with anything in gambling, it makes nothing but sense to be careful with crypto and only ever invest what you’re comfortable losing,” Kelly confirmed, adding: “You’re told when investing, on Day One, that the value of investments can go down as well as up. So crypto gambling needs to be seen in that context. If you’re buying Bitcoin right now, it’s fair to say you’re banking on it rallying out of this present dip. If you’re planning on gambling with Bitcoin, the hope is that you’re taking a falling asset and hoping to cash out when it rises again. None of that is guaranteed, but that’s the nature of speculation itself.”

Nonetheless, crypto is interesting gamblers in the current American market because it allows a level of freedom and immediacy that isn’t easy to find elsewhere. Experts indicate that its…

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Solarisbank says it’s helping Binance to become regulated in Germany

Quick Take

  • The banking-as-a-service fintech firm says that part of its collaboration with Binance involves helping the cryptocurrency exchange become regulated in Germany. 
  • In an interview with The Block, Solarisbank CEO Roland Folz said that there’s no reason why Binance can’t become regulated in Europe’s biggest economy. 

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Banking-as-a-service fintech Solarisbank says it’s helping Binance achieve regulated status in Germany as the crypto exchange woos regulators globally.

In an interview with The Block, CEO Roland Folz said Solarisbank’s relationship with Binance began a year and a half ago and it currently provides the exchange with know-your-customer (KYC) services in Germany and a card offering in Europe. 

Speaking at the Finance FWD conference in Hamburg last week, Folz also confirmed that Solarisbank is working with Binance so it can become fully regulated by BaFin, the German financial regulator.

Like many crypto exchanges, Binance is on a push to win over regulators across Europe and recently achieved regulated status in France after committing €100 million to the country’s startup ecosystem. Banking-as-a-service fintech firms like Solarisbank can simplify this process by offering exchanges a fully regulated plethora of fintech features such as payments, stock investment and cryptocurrency custody. 

Folz believes that Solarisbank’s status as a fully regulated financial institution can help build the bridge between digital assets and regulators — and he sees no reason why Binance won’t become regulated in Germany. 

“They’ve just gotten their first license in France,” he said. “So I think the logical next step would be a Germany and I’m sure that’s what’s going to happen.”

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Swiss bitcoin fintech Relai nabs €2.16 million

Despite the recent crash, investors are still privately investing in crypto. Zurich-based bitcoin app Relai raised €2.16 million in its latest funding round. The investment was led by Redalpine, with additional backing from Polytech Ventures, Bitcoin-focused Fulgur Ventures, and ACE & Company.

More than 850 investors joined the table to contribute an additional €970,000, surpassing Relai’s target of €1.5 million by more than €600,000. The funding round will allow Relai to continue expanding its user base across Europe, where the app has already been downloaded more than 100,000 times.

Going forward, it has plans to increase the number of currencies people can use to invest in bitcoin. It is also looking at launching a bitcoin debit card that rewards users with bitcoin every time they use it to make fiat purchases.

Founded by Julian Liniger and Adem Bilican in 2020, Relai aims to make bitcoin investment and saving possible for everyone, everywhere.

Julian Liniger, CEO and founder of Relai, said: “Beating our target by almost €700,000 and welcoming more than 800 new investors to the table has been a highlight of the Relai journey so far. We’ve got ambitious plans to scale our user base. We will continue to innovate our app and products to give our users an even better experience.”

Since the startup launched in July 2020, the app has been downloaded over 23,000 times and is actively used by more than 10,000 paying customers. 

Peter Niederhauser, co-founder and partner at Redalpine, said: We aim to help accelerate the mass adoption of crypto by easing access to its leading currency, Bitcoin.

Read more at tech.eu

Crypto Regulation Takes Centre Stage in Europe Amid Geopolitical Stress

Regulation Talks Across Europe

EU has only recently proposed crypto regulation. While, some Western European nations have already tried to protect crypto service providers at the national level.

For instance, Belgium used existing EU anti-money laundering rules to introduce a new regulatory regime for virtual currency service providers.

Meanwhile, in Germany, cryptocurrencies are already subject to stringent requirements. Christian Hissnauer, counsel at Clifford Chance’s Frankfurt office, noted that Germany is a fully regulated country when it comes to cryptocurrencies. This is because the country’s Banking Act has made it mandatory for companies that want to do crypto trading, custody, and broker services, to get a German banking license. 

That said, recently, a German financial regulator called for new decentralized finance (DeFi) laws, citing the risk of hacks and frauds.

In an article on BaFin’s website, Birgit Rodolphe, executive director, wrote,

“One thing is clear: the clock is ticking. The longer the DeFi market goes unregulated, the greater the risk for consumers, and all the greater is the danger that critical offers that have systemic relevance will establish themselves.”

Stressing the risks to consumers, she cited that “technical issues, hacks, and fraudulent activity” have seen millions loss.

“Who do I contact if I want to defer my crypto loan? What happens if my crypto assets suddenly disappear altogether? In any case, there is no deposit protection fund for such cases.”

Germany rose to the top spot, securing the place of the most crypto-friendly country in the first quarter of 2022. Another March KuCoin report found that almost half of Germany’s population is interested in investing in crypto.

When it comes to France, the recent Binance (BNB) license approval has made many crypto enthusiasts believe that the country is close to crypto regulation. 

“France is a very strict regulator. But they have the advanced…

Read more at www.fxempire.com

‘Pay more attention’ Ethereum co-founder says of crypto crash

Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration

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DAVOS, Switzerland, May 25 (Reuters) – Ethereum’s co-founder Gavin Wood said cryptocurrency investors need to be more aware of what is backing their holdings after a market rout which wiped more than $800 billion off their value.

“I would hope that people pay more attention to what is belying the currency name when they get involved in a community, ecosystem, economy,” Wood told Reuters on the sidelines of the World Economic Forum in the Swiss Alpine resort of Davos.

Crypto and blockchain firms have been highly visible at this year’s gathering of business and political leaders, despite the market plummeting in value in the weeks leading up to the event, with the eighth-largest coin Luna becoming virtually worthless.

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British computer scientist Wood was attending for the first time to talk about a new partnership between his blockchain project Polkadot with American billionaire Frank McCourt’s Project Liberty.

Blockchains are public ledgers that keep records of transactions on networks of computers, and, along with cryptocurrencies, are largely unregulated.

“The internet has no real concept of legality, because legality is something that is determined by sovereign nations,” Wood said in an interview.

The new partnership is aimed at decentralizing control of the web and giving users more control of their data, Wood said.

“The technology cannot prevent people from making mistakes but can help those who want to understand better the facts of the world, what they’re buying,” said Wood.

The 42-year-old, who also coined the term Web3, also founded the Web3 Foundation, which backs the reorganization of the web away from big companies such as Google owner Alphabet (GOOGL.O) to…

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MBC GROUP and the region’s leading crypto exchange, BitOasis, announce strategic partnership

  • Founded in the UAE, BitOasis is the region’s first and leading Virtual Asset Service Provider (VASP)
  • Under the partnership, BitOasis will launch region-wide crypto education initiatives on MBC GROUP’s diverse media platforms and channels
  • The strategic partnership will support BitOasis and drive customer awareness and adoption as it expands its regional footprint, while solidifying its presence in existing markets
  • Partnership is the first of its kind for the region and timely amid rapid adoption across region – 1500% growth in 2020 – 2021 and heightened awareness.

DUBAI, United Arab Emirates: BitOasis, the Middle East and North Africa’s (MENA) leading crypto-asset trading platform, has entered into a strategic partnership with MBC GROUP, the largest and leading media company in the MENA region.

The tie-up will see MBC support BitOasis in rolling out crypto educational and awareness campaigns across the region through MBC GROUP’s full portfolio of digital platforms and TV channels.

UAE-based BitOasis has grown to become the region’s largest crypto trading platform, having recorded over USD 4 Billion in trading volume to date.

According to “The Chainalysis 2021 Geography of Cryptocurrency Report”, the MENAT (Middle East, North Africa & Turkey) region’s cryptocurrency market grew by 1500% between July 2020 and June 2021. The recent surge in crypto activity makes the MENAT region one of the fastest growing markets in the world. A recent You Gov study shows that 21% of those surveyed in the UAE indicated that they intended to invest in crypto within the next 12 months – the third highest figure globally. The same survey shows that 18% of Saudi residents already trade in crypto. BitOasis plans to connect with this audience via its trusted regional brand and a new educational program distributed across the largest media network for MENA.

Commenting on the growth potential within the regional crypto space, Ola Doudin, CEO and co-founder of BitOasis said:…

Read more at www.zawya.com

TASI gains on strong earnings season: Opening bell

Crypto Moves — Bitcoin, Ether up; ECB says crypto a risk to financial stability; Central African Republic to launch bitcoin investment hub

RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Wednesday, down 1.93 percent to $29,891 as of 10:52 a.m. Riyadh time.

Ether, the second most traded cryptocurrency, was priced at $1,986, up 0.45 percent, according to data from Coindesk.

Crypto markets may pose risks to wider financial stability, ECB warns

Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth seen over the last two years and financial firms deepen their involvement, the European Central Bank said on Tuesday.

The crypto market slumped sharply this month after the downfall of the major “stablecoin” terraUSD.

The crash has led to calls from the world’s top financial leaders for “swift and comprehensive” regulation of the sector.

The ECB in its biannual financial stability review said exposure to crypto by banks and other financial institutions on a wide scale could put capital at risk and damage investor confidence, lending and financial markets.

“Systemic risk increases in line with the level of interconnectedness between crypto-assets and the traditional financial sector,” it said.

Central African Republic to launch Bitcoin investment platform

Central African Republic will launch the continent’s first legal cryptocurrency investment hub, the presidency said, extending the impoverished country’s embrace of digital finance despite words of caution from the International Monetary Fund.

Marred by decades of conflict, the Central African Republic last month became the first country in Africa and only the second in the world to adopt Bitcoin as an official currency.

The government has so far provided little detail on the logistics of its Bitcoin vision.

The soon-to-be-launched “SANGO” crypto initiative has a website on which interested investors…

Read more at www.arabnews.com

Russia-Ukraine war increases financial stability risks, ECB Financial Stability Review finds

25 May 2022

  • Impact of war on energy prices, inflation and growth amplifies existing vulnerabilities
  • Market reaction to invasion largely orderly, but risk of further correction remains
  • Banks face weaker profitability after strong recovery in 2021

Financial stability conditions in the euro area have worsened as the Russian invasion of Ukraine leads to higher energy and commodity prices and increases risks to euro area inflation and growth, the May 2022 Financial Stability Review (FSR) published today by the European Central Bank (ECB) concludes.

“The terrible war in Ukraine has brought immense human suffering,” ECB Vice-President Luis de Guindos said. “It has also increased financial stability risks through its impact on virtually all aspects of economic activity and financing conditions.”

The market reaction to the Russian invasion of Ukraine has been largely orderly. However, prices for commodities and energy have remained elevated and volatile, which has caused some stress in derivatives markets for these products. Despite recent adjustments, some assets remain at risk of further corrections should the growth outlook weaken further and/or inflation turn out to be significantly higher than expected.

Vulnerabilities may increase due to the uncertain path of the Russia-Ukraine war and shifting expectations of policy normalisation in advanced economies. Other potential global developments, such as a broader resurgence of the coronavirus (COVID-19) pandemic, weaknesses in key emerging market economies or a sharper slowdown in Chinese economic activity, could also affect risks to growth and inflation.

Euro area non-financial corporations face challenges from rising input prices and a more clouded economic outlook. This may increase corporate defaults, especially for firms and sectors that have not yet fully recovered from the pandemic. Moreover, highly indebted firms and those with lower credit ratings may struggle with tighter financing conditions.

Euro area…

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Financial Stability Review, May 2022

The May 2022 Financial Stability Review (FSR) has been prepared against the backdrop of the devastating invasion of Ukraine. We do not yet know how the war will be resolved. But we do know that the human suffering it has caused is enormous. We hope for peace.

This war is also affecting the economy, in Europe and beyond. The invasion and the associated uncertainty have prompted some repricing in global financial markets, albeit with much less turmoil than seen in March 2020, and dampened the confidence of businesses and consumers that are only just emerging from the tight restrictions imposed during the coronavirus (COVID-19) pandemic. Higher energy and commodity prices are pushing up inflation and slowing the economic recovery. Elevated volatility has highlighted some liquidity risks, notably in some commodity derivatives markets. However, the main threat to euro area financial stability comes from the impact through macroeconomic channels. This implies additional challenges for indebted businesses at a point in time when countries’ fiscal space is very limited and support may need to be more targeted than the broad fiscal policy response to the pandemic.

With these developments in mind, this FSR assesses financial stability vulnerabilities and their implications for financial markets, debt sustainability, bank resilience, the non-bank financial sector and macroprudential policies.

This issue of the FSR also includes two special features on topics that are increasingly part of our routine financial stability assessment at the ECB. The first focuses on recent advances in the monitoring of financial stability risks stemming from climate change, building on previous special features on the topic. The second special feature explores risks arising from crypto-assets – which have been increasing over time, as this sector grows both in its size and in its integration with the core financial system.

This issue of the FSR has been prepared with the involvement of the…

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