Latest from Crypto Insight
Crypto Insight
5 hours ago
- Business
- Crypto Insight
Bitget secures Georgia license as part of Europe expansion
Bitget has received regulatory approval from Georgia to operate as a digital asset exchange and custodial wallet provider within the Tbilisi Free Zone (TFZ). In a Thursday announcement, the company said its users in Georgia can now access Bitget's full range of services, including spot trading, futures and copy trading, all within a fully compliant, locally regulated environment. Bitget has been expanding in Europe since the European Union's Markets in Crypto-Assets Regulation (MiCA) began taking effect in 2024. Through its affiliate Archax, it holds authorization from the UK's Financial Conduct Authority. It is also registered with Italy's Organismo Agenti e Mediatori and is listed as a virtual asset service provider (VASP) in Poland, Bulgaria, Lithuania and the Czech Republic. 'As Europe moves toward the MiCA implementation, Georgia stands out as a key market providing regulatory clarity, tax advantages and real user adoption,' said Gracy Chen, CEO of Bitget. Chen highlighted that users also benefit from improved security measures such as proof of reserves and a dedicated protection fund. Georgia marks Bitget's latest expansion in Europe thanks to a favorable business climate and supportive regulatory framework. The Georgian government engages with businesses when shaping crypto-related laws and provides grants to blockchain and crypto companies through the Georgian Innovation and Technology Agency. Bitget Wallet launches QR crypto payments in Vietnam Building on its broader push to expand globally across multiple business lines, Bitget Wallet has introduced national QR payment support as part of its global PayFi initiative, with Vietnam becoming the first market to go live. The new feature allows users to make crypto payments using VietQR, Vietnam's national QR standard. The integration enables users to pay with stablecoins such as USDt and USDC, supporting multiple blockchains, including Ethereum, Tron, Solana, Base, TON and BNB Chain. Future updates will also introduce auto-swap functionality, allowing payments using any token without manual conversion. Jamie Elkaleh, chief marketing officer at Bitget Wallet, told Cointelegraph that 'users in Vietnam have already used Bitget Wallet to pay with stablecoins for everyday expenses like food, groceries and retail items simply by scanning VietQR codes.' In collaboration with licensed partner AEON's crypto payment framework, Bitget Wallet now enables stablecoin payments through more than 55 banks and payment institutions supporting VietQR, including VietinBank and Vietcombank. Over 2 million merchants nationwide accept the standard, spanning large retailers to small businesses. Vietnam's regulatory environment for crypto has been evolving. On Saturday, the National Assembly approved the Law on Digital Technology Industry, which formally recognizes crypto assets and sets the stage for the regulated development of the sector. Coming into effect on Jan. 1, 2026, the law defines crypto and virtual assets separately, and introduces cybersecurity and Anti-Money Laundering requirements aligned with global standards. Source:
Crypto Insight
5 hours ago
- Business
- Crypto Insight
OKX brings DEX aggregator to MetaMask with Consensys partnership
OKX has partnered with Ethereum software firm Consensys to launch its decentralized exchange (DEX) aggregator on MetaMask, offering users faster trade execution and reduced slippage. The collaboration integrates OKX's DEX API with MetaMask, giving the wallet's user base access to liquidity from over 500 DEXs across 25 blockchains, the exchange said in a news release shared with Cointelegraph. 'MetaMask's ambitious multichain strategy toward becoming a universal wallet for the Web3 ecosystem aligns with the connected blockchain ecosystem we're helping to build,' said Jeff Ren, founder of OKX Ventures. Ren added that the OKX DEX aggregator connects MetaMask users to over 500 liquidity sources with execution speeds under 100 milliseconds. 'We share a vision of a more accessible blockchain ecosystem where technical barriers disappear.' OKX Wallet adopts MEV protection As part of the deal, OKX Wallet has also adopted Consensys' SERVO, a solution designed to defend users against maximum extractable value (MEV) attacks. The integration is the first time Consensys has partnered externally to embed SERVO into a third-party wallet. 'MEV remains a complex challenge,' said Jason Linehan, chief strategy officer at Consensys. 'OKX's integration of Consensys SERVO reflects a strong commitment to user safety and protocol-aligned innovation.' The partnership comes at a time when onchain trading is reaching execution parity in price and speed with centralized exchanges, Ren said. He added that DEX to CEX volume ratios continue to climb, indicating increased interest in decentralized trading avenues. Looking forward, Ren said the future of trading will rely on a diverse ecosystem where DEX aggregators, specialized decentralized exchanges, and centralized platforms coexist to support seamless asset movement and reduce liquidity concentration. OKX adds new safeguards after DEX misuse In March, OKX temporarily suspended its DEX aggregator after detecting an attempted misuse by North Korea's Lazarus Group. The suspension came amid reports that EU regulators were investigating OKX Web3 and its wallet services for allegedly facilitating money laundering from the $1.5 billion Bybit hack. In response, the firm has rolled out new safeguards, including real-time blocking of suspicious addresses and warning alerts for potentially dangerous transactions, Ren said. Audits from CertiK, Hacken and SlowMist, plus an ongoing bug bounty program, backed these measures. Source:
Crypto Insight
7 hours ago
- Business
- Crypto Insight
This protocol aims to unify the fragmentation of Web3 and unlock Bitcoin DeFi for every chain
Communication protocol GVNR prepares to launch GVNR following the successful deployment of its proof-of-concept applications that unify Web3. Navigating crypto in 2025 feels like flying with three different passports: one for Ethereum, another for Bitcoin and a third for the favorite side-chain. Every hop between wallets introduces extra clicks, swap fees, fresh attack surfaces and, most worryingly, the risk of unexpected tax events. This creates a fragmented, clunky experience that frustrates users and keeps newcomers out. GVNR, a foundational general message passing layer for Web3, believes detouring is a relic of the early internet era. After 18 months of building, the team is rolling out a universal routing layer that lets any smart contract communicate with any other chain as naturally as web pages link to each other. The project's goal is simple: treat every blockchain as one cohesive runtime. Its protocol passes signed messages among chains so developers don't need wrapped assets, bridges or custodial middlemen. Instead of constantly switching networks and wallets, users just make one move, and GVNR handles the rest behind the scenes. Avoiding bridges and wrapping tokens can eliminate the tax risks; in fact, few understand that bridging assets can trigger a tax liability. Putting theory into practice Putting this vision into action, GVNR has already launched three live proof-of-concept apps that show what seamless interoperability can look like: GVNR Portfolio: A dashboard where users and their AI agents can view and control tokens scattered across every connected chain from a single interface. JustPay: A checkout layer that unlocks $500 billion of asset value, letting users spend any token on any chain to pay an invoice on a different chain. For example, an Arbitrum bill can be settled with Bitcoin, or a Solana mint can be covered with USDC on Polygon in a single click. JustSwap: An aggregation layer for decentralized exchanges (DEX) that lets traders swap tokens on any chain for any other asset across connected ecosystems, and a unique swap and send function so users can gas new wallets with a single action. GVNR has already processed more than $450,000 onchain, with over 26,000 users executing more than 60,000 swaps, minting over 35,000 non-fungible tokens (NFTs) across ten chains and logging over 143,000 transactions in total. Each interaction is a live demonstration that GVNR messages can shepherd value anywhere liquidity is needed. The engine of the ecosystem With its core technology demonstrated, the project is now centered on the launch of its native token, GVNR. The token is designed as a multifaceted utility asset that powers the entire network. Beyond its role in the protocol's decentralized governance, it will also be used for staking and payments. A key aspect of the token's design is its planned integration with the growing network of AI agents, which will be able to use GVNR to complete onchain actions. With a capped supply of 20 million, the token is now available to the public through a sale on Republic. The GVNR token empowers holders with governance rights through the GVNR DAO. Unlike many projects, there is no entity with 'labs' in its name that owns the intellectual property. GVNR's structure ensures that the decentralized autonomous organization's (DAO) sole purpose is to steer the protocol and drive value back to the token. This is reinforced by a deflationary furnace mechanism, which uses network fees to permanently reduce the token supply, aligning network growth directly with holder value and serving the ultimate vision of mobilizing a new era of crosschain liquidity. As foundational routing layers like GVNR mature, they begin to abstract away the complexity of the underlying blockchains. With such developments, the industry is gradually shifting from a collection of siloed networks toward a more unified landscape where digital value can move as freely as information, paving the way for a more intuitive and interconnected user experience. What's next? Following on, GVNR envisions a new permissionless era for Bitcoin. The team is building a permissionless Bitcoin DeFi loan product, named Diamond Hands. Other assets, such as ETH and SOL, have had access to loan products since DeFi began, but Bitcoin has been left behind, forced into wrapping, bridging and worse, centralized entities. Bridging and wrapping incur tax events, centralized entities risk default events; GVNR Diamond Hands will enable non-custodial native Bitcoin DeFi loans. Source:
Crypto Insight
a day ago
- Business
- Crypto Insight
Deribit, Crypto.com integrate BlackRock's BUIDL as trading collateral
Crypto derivatives exchange Deribit and spot exchange are accepting BlackRock's tokenized US Treasury fund as trading collateral for institutional and experienced clients. The move will allow institutional traders to use a low-volatility, yield-bearing digital instrument as collateral for their accounts, lowering the margin requirements for leveraged trading, according to Forbes. Coinbase, one of the world's biggest exchanges by trading volume, announced a $2.9 billion deal to acquire Deribit in May 2025. The deal can expand the utility of BlackRock's Institutional Digital Liquidity Fund (BUIDL). The fund holds nearly 40% of the tokenized Treasurys market share, or roughly $2.9 billion in value locked, according to data from Tokenized US Treasury products are slowly emerging as an alternative to traditional stablecoins, thanks to their yield-bearing properties. The growth of these products reflects the broader merger of cryptocurrencies with the legacy financial system. Tokenized yield-bearing government securities proliferate as centralization risks grow BlackRock tipped plans to integrate BUIDL as a collateral asset across crypto derivatives platforms and centralized crypto exchanges, including OKX and Binance, in October 2024. In January 2025, the community governing Frax Finance, a decentralized finance (DeFi) protocol, voted to add support for BUIDL as backing collateral for the Frax-USD stablecoin (frxUSD). Proponents of the integration characterized BUIDL as beneficial, providing deeper liquidity, transfer options and lower counterparty risk from using a collateral asset created and backed by the world's largest asset manager, BlackRock, with around $11.5 trillion in assets under management. Despite the positive outlook from the Frax Finance community and other digital asset platforms, centralization concerns and the possibility of structural financial risk persist among industry executives and market participants. Six firms, including BlackRock, Franklin Templeton, Ondo Finance, Superstate, Centrifuge and Circle account for over 88% of the tokenized US treasury market. Most of the US Treasurys currently onchain were tokenized on the Ethereum network, which continues to be the leading blockchain for real-world tokenized assets. Ethereum holds $5.7 billion of the total $7.3 billion in tokenized government securities. Source:
Crypto Insight
a day ago
- Business
- Crypto Insight
China's JD.com enters stablecoin race as US passes GENIUS Act
Chinese e-commerce giant is stepping into the stablecoin arena, with founder Liu Qiangdong revealing plans for a global licensing push aimed at cross-border payments. The announcement, made during a media briefing in Beijing on Tuesday, came as the US Senate passed the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a landmark bill establishing federal guardrails for stablecoins. 'We hope to apply for our stablecoin license in all major sovereign currency countries in the world,' Liu said. He outlined that the stablecoin would be used to enable faster, cheaper global transactions. 'We can reduce payment costs by 90% and deliver within 10 seconds,' he claimed, contrasting this with the traditional SWIFT system's two-to-four-day settlement window. stablecoin plans to expand to retail Initially targeting business-to-business (B2B) transactions, JD's stablecoin plans could eventually extend to consumer payments. 'After B-side payment is completed, we can move toward C-side payment,' Liu noted, hinting at broader retail ambitions. Liu mentioned that their ambitious project may face challenges and even fail, but said that is 'how business works.' is pushing to go global while sticking to its supply chain-focused business model. 'We are not going to do new models anymore,' Liu said. 'But we will deepen and strengthen the existing seven or eight business models […] and make them international businesses.' On Wednesday, People's Bank of China Governor Pan Gongsheng announced plans to establish an international digital yuan operations center in Shanghai as the country accelerates efforts to internationalize the digital yuan and reduce global reliance on the US dollar. In 2021, started using China's Digital Currency Electronic Payment (DCEP) system to pay employee salaries, B2B payments and cross-bank settlements. Interest in stablecoins rises with new regulations push into the stablecoin sector comes amid rising interest in stablecoin infrastructure globally, with new regulatory reforms. On Tuesday, the Senate passed the GENIUS Act. The bill initially failed a cloture vote in the Senate in May in response to Democratic opposition to US President Donald Trump's connections to the cryptocurrency industry. However, last week, in a 68–30 vote, the Senate voted to invoke cloture for the bill, setting it up for debate and a full floor vote. The bill may still face hurdles in the Republican-held House. Last week, stablecoin issuer Circle CEO Jeremy Allaire suggested that the stablecoin breakthrough moment isn't far off. 'We are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable digital dollars on the internet in the same way they saw the unlock of programmable mobile devices,' Allaire said. Source:
