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Circle to Launch USDC Stablecoin on Arbitrum, Tradecurve Exchange to Implement AI

Prominent stablecoin issuer Circle announced that it would launch USDC natively over Arbitrum starting June 8, 2023, replacing the short version of the stablecoin. A competing project, Tradecurve, will allow users to create AI-powered trading bots with the ability to optimize the performance of their portfolios, leading to greater efficiency.

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Circle to launch USDC Stablecoin in addition to Arbitrum

“USDC issued by Circle will be native to Arbitrum and will be considered the official version of USDC for the Arbitrum ecosystem. Over time, native USDC liquidity will grow and replace the currently circulating ‘Bridged USDC’ liquidity coming from Ethereum.” Circle announced in its statement.

Arbitrum will rename the Ethereum bridged version of USDC in block explorers and will now be known as USDC.e. The company also announced that there will be scope for ecosystem apps that will make the same change to their in-app user interfaces and other documentation.

Additionally, Circle noted several benefits of USDC’s native launch in Arbitrum, such as future Cross-Chain Transfer Protocol (CCTP) support, which will eliminate delays in bridge withdrawals. There will be an updatable smart contract for any future improvements of the company and the possibility of institutional entry and exit ramps, among other advantages.

Anyone can access AI trading bots to optimize their portfolio with Tradecurve

Circle isn’t the only company breaking new ground by launching USDC in addition to Arbitrum, and competing projects like Tradecurve are also rolling out new ideas and innovations that could change DeFi for traders and investors alike.

The Tradecurve ecosystem is powered by the TCRV utility token and gives users access to features such as automated trading and artificial intelligence. Users can access hundreds of artificial intelligence and algorithmic trading systems through which they can improve and optimize the performance of their portfolio.

Furthermore, traders can create their own communities and members can automatically copy their trades via a subscription model. The Tradecurve team will implement Proof of Reserves (PoR) to increase transparency.

There is also high leverage starting at 500:1, a VIP account service, a dedicated trading academy and negative balance protection. Users are not required to complete KYC, making it a truly borderless platform that can be accessed from anywhere.

TCRV is now in stage 3 of its pre-sale, where one token is worth $0.015. A total of 23,637,981 TCRV tokens have already been sold, and its next price increase will be 20% to $0.018 in stage 4. Analysts predict that the price of TCRV could increase 100 times at launch, especially as it will be listed in Tier -1 exchanges and on Uniswap DEXs.

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Payments Giant PayPal Invests in New Crypto Wallet Software to Boost Web3 Adoption

Payments giant PayPal is investing millions in Magic, the San Francisco-based crypto wallet company, in its latest venture into the digital asset space.

According to Magic’s press release, the wallet-as-a-service (WaaS) provider has raised $52 million in a strategic funding round led by PayPal Ventures.

According to Alan Du, partner at PayPal Ventures,

“Mass adoption of Web3 is a hot topic, and Magic is facilitating it with a simple and secure solution. discover Web3. We are proud to invest in Magic and are confident that the company will help increase the number of use cases for Web3 among global brands.”

The funding round also included investments from Cherubic, Synchrony, KX, Northzone and Volt Capital, bringing the total amount raised by Magic to $80 million, according to the release.

Magic, a 2018 tech startup, provides a non-custodial crypto wallet infrastructure for companies that want to give their customers a simple and secure Web3 experience.

The company uses a unique Software Development Kit (SDK) which is implemented to allow customers to instantly create wallets using their existing email, social media accounts or SMS. To date, Magic has created more than 20 million unique wallets, according to the release.

Current Magic customers include several branded companies, including Mattel, Macy’s, Xsolla, and Immutable.

Magic co-founder Sean Li said the funding will allow the company to expand its presence in the European Union (EU) and Asia-Pacific (APAC) region.

says Li,

“With this new funding, we are focused on expanding functionality and growing use cases to continue to deliver more value to our customers. We also look forward to achieving deeper integration in the EU and APAC.”

Paypal’s recent filing with the United States Securities and Exchange Commission (SEC) shows that the company held approximately $604 million in digital assets, including $291 million in Bitcoin (BTC) and $250 million in Ethereum (ETH), in the fourth quarter of 2022.

Last December, they also announced a partnership with cryptocurrency firm ConsenSys to integrate PayPal with MetaMask, one of the most popular cryptocurrency wallets in the world.

In April, PayPal-owned Venmo announced plans to allow its more than 70 million users to transfer cryptocurrency to other Venmo users, as well as move digital assets to wallets and external exchanges.

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Bitcoin Price Rises Slowly After Bittrex News

Bitcoin price has stalled thanks to recent news about Bittrex, a popular digital exchange, and the Securities and Exchange Commission (SEC).

Bitcoin is slowing down a bit

Bitcoin has been on the rise since the beginning of the year. In 2022, the world’s number one cryptocurrency by market capitalization took one of the hardest hits it has ever taken and lost over 70% of its value after hitting a new all-time high of around $68,000 per unit the previous November. At the end of 2022, the coin dropped to the mid-range of $16,000.

Additionally, several other digital assets have decided to follow in BTC’s footsteps. This caused the entire space to crash and lose over $2 trillion in valuation in just 10-12 months.

However, this year has offered something of a turning point for bitcoin. The asset initially rose to $17,000 in the first few months, and from there it started to rise in price in the $20,000 range. It recently made headlines when it hit the $30,000 mark for the first time in about ten or 11 months (not since last June), leading many analysts to speculate that the bulls were back in town and bitcoin would reverse. forever in the coming months.

While lasting damage has yet to be done, the coin has seen its growth slow down a bit for the time being, thanks to the news surrounding Bittrex, which is the latest digital currency to fall victim to the SEC, as our latest article suggests. The agency says the exchange has broken financial and securities rules for years and has taken steps to avoid following the rules since it first came to fruition in 2014.

To be fair, it’s hard to know if these suggestions are real or not, as the SEC has been working to crack down on every cryptocurrency company out there as of late. Not long ago, for example, the agency sued Kraken and settled with the exchange that forced it to waive more than $30 million in fines. She also had to stop all her stake services.

Withdraw from all companies

The SEC didn’t stop there. He also recently posted a warning from Wells to Coinbase, stating that while the company has yet to be charged, it was being watched and could face charges in the near future. The funny thing is, Coinbase claims to have regularly met with SEC officials over the past nine years to ensure it has always remained in compliance.

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Huobi Prepares to Launch Business Service in Hong Kong

Huobi HK will play an important role in making Hong Kong the world center of Web 3.0.

In the future, users will be able to buy, sell and hold major cryptocurrencies such as BTC and ETH, as well as other major cryptocurrencies listed on the independent index through Huobi HK.

Huobi aims to provide a great shopping experience for Web 3.0 users in Hong Kong.

Hong Kong has been gradually implementing crypto-friendly policies since last year and recently announced the introduction of “cryptocurrency regulations.”

second semester. from 2023.

As a cryptocurrency exchange with a decade-long history, Huobi is actively involved in developing and building Hong Kong’s Web 3.0 ecosystem.

It is worth noting that during this year’s Hong Kong Web 3.0 Carnival, Huobi became a major contributor to the first Hong Kong Web 3.0 Ecosystem Fund.

Furthermore, Huobi is actively preparing to apply for a cryptocurrency trading license in Hong Kong.

Huobi intends to open up the Hong Kong market in a regulated and compliant manner that will speed up the development of Hong Kong’s Web 3.0 ecosystem.

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