The crypto community is continually looking for ways to bridge the gap between traditional finance (TradFi) and fiat currencies with decentralized financial (DeFi) tools. Crypto onramp platforms are a primary way users are able to cross between these two financial ecosystems. However, a new report from Cointelegraph Research and Onramper, a crypto-based financial services provider, revealed that 50% of fiat-crypto transactions fail, even after KYC completion. Moreover, due to difficulties in the transaction process, transaction abandonment during the purchase flow can be as high as 90%. The survey looked at 9 of the largest fiat-crypto onramps including Coinify, Moonpay, Transak …

A new study by DECTA highlighted the importance of embedded finance features in today's fintech world. With online shopping and digital payments becoming a norm, the study pointed towards some of the key drivers for a seamless experience for customers. Embedded finance is a new type of software distribution that works with financial infrastructure providers to include financial services in the ecosystems of already-existing products. The most common embedded finance offerings include banking, lending, insurance, payments and branded credit cards. According to the study, quick payments and the availability of a selected payment option are the most crucial elements for …

Hong Kong’s Securities and Futures Commission (SFC) calls for public feedback on its newly proposed licensing regime for cryptocurrency exchanges set to take effect from June 2023. A key consideration of the public consultation window is whether to allow licensed exchanges to serve retail investors in the country and what measures should be implemented to provide a range of ‘robust investor protection measures.’ The SFC announced the consultation process on Feb. 20, outlining a new licensing regime for the industry which proposes that all centralized cryptocurrency trading platforms operating in Hong Kong must be licensed with the regulatory body. The …

South Korea’s "Kimchi premium" has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges. The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher on South Korean exchanges than in other markets. According to data from blockchain analytics provider CryptoQuant, the Korea Premium index has been shifting between the -0.24 and 0.01 range between Feb 17 and 19. As of writing, data on CoinMarketCap shows BTC is trading at roughly $24,464 on Coinbase and $24,487 on Binance. In …

Crypto's next bull run will start in Asia, according to Cameron Winklevoss, an American investor, and co-founder of crypto exchange Gemini. His comments have come amid an increase in enforcement action and looming crackdowns from United States regulators, including the Securities and Exchange Commission (SEC). “My working thesis atm is that the next bull run is going to start in the East,” said Winklevoss in a Twitter post on Feb. 19. "It will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or …

The network effect is a phenomenon where the value of a product or service increases as more people use it. As the user base grows, there are more opportunities for interactions, which can lead to increased benefits and positive outcomes for each user. The network effect is a powerful driver of growth and adoption for many technologies and platforms, including social media, messaging apps and marketplaces. The network effect and cryptocurrencies The network effect is also a central concept in the world of cryptocurrency. In general, it means that a cryptocurrency’s value rises as more people use it. This is …

The Dow Jones Industrial Average fell for the third consecutive week but Bitcoin (BTC) price decoupled and is on track to close the week near the strong overhead resistance at $25,211. This suggests that the wider crypto market recovery is on a strong footing. After Bitcoin’s sharp rally from the lows, analysts remain divided in their opinion about the next move. Some traders believe that the current Bitcoin rally will turn down once again, but others expect the momentum to continue, indicating the start of a new bull phase. Chances are that Bitcoin and several other cryptocurrencies may continue to …

Bank of Zambia and the country's securities regulator are "testing technology" to enable the regulation of cryptocurrencies, said Technology and Science minister Felix Mutati on the ministry's website. The country's move aims to "achieve an inclusive digital economy." Speaking in the city of Lusaka, Zambia's capital, the minister claimed that "cryptocurrency is the future that the country desires to achieve", but a policy framework is required to support this "revolutionary technology." According to Mutati: "[...] the testing of the technology on regulating cryptocurrency will be upscaled in due course as part of deliberate measures to achieve an inclusive digital economy …

In the world of cryptocurrency, joining projects early may be beneficial. For example, investors who bought Bitcoin (BTC) in 2011 are now reaping the benefits of their investment. They discovered something new, saw its potential and stuck with it. With cryptocurrency’s growing worldwide adoption comes a new fundraising platform: the crypto launchpad. Launchpads allow crypto investors to discover and invest in early-stage crypto projects before they are listed publicly. As a result, they can buy tokens for cheap and profit more when their value increases. In recent years, crypto has enjoyed a significant rise in popularity despite market volatility which …

Communications protocol Helium Network has defined March 27 as the date for its migration to the Solana blockchain and deployment of Oracles, seeking to improve scalability and reliability. According to a blog post on Feb. 17, a 24-hour transition period will take place on March 27, during which the current Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected. A working group of community volunteers is being formed to oversee the migration process. Helium's team stated: "This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period …

Non-custodial crypto platform ShapeShift refuted United States Senator Elizabeth Warren’s claims of "illicit financing,” suggesting that she used the platform as a scapegoat to “push” her latest crypto bill, according to a recent statement. ShapeShift stated in a tweet on Feb. 19 that Warren made “mistakes” in her “analysis” of the platform, which were made at a recent senate banking committee hearing entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” on Feb. 14. On Valentine's Day, @SenWarren attempted to use ShapeShift as an example to push her latest crypto bill. Unfortunately, there were mistakes in the …

Bitcoin (BTC) NFTs will have a positive impact on Bitcoin ecosystem by improving its security and incentivizing developers to build on the network, according to independent developer Udi Wertheimer. The number of newly created Ordinals, also referred to as "inscriptions", have been spiking in recent weeks, causing a surge in transaction fees and average block size on the Bitcoin blockchain. According to Wertheimer, Bitcoin NFTs are going to be beneficial for Bitcoin's security budget: by driving up transaction fees, the creation of Ordinals will incentivize miners to secure the network while the revenue from mining reward will be decreasing with …