Libeara gears up to offer tokenized Singapore dollar government bonds

Dunamu Collaborates with Credit Institutions to Aid Young DebtorsDunamu, the operator of Korea’s leading cryptocurrency exchange Upbit, has announced its collaboration with the Credit Counseling and Recovery Service (CCRS) and the Social Solidarity Bank (SSB) to aid young debtors.©PexelfauxelsLUNC transaction fee revenueOn Thursday, Dunamu signed a memorandum of understanding with CCRS and SSB to propel the Dunamu Next Dream project. This initiative aims to return Luna Classic (LUNC) transaction fee revenue to the community.In September last year, Dunamu expressed its plan to allocate the LUNC transaction fee profits of 239.13025970 BTC for investor protection. The exchange operator, following the recommendations of an external advisory committee, decided to donate approximately 3 billion KRW (~$2.3 million) of these assets to public organizations and use the remaining funds for financial and credit support.Young debtorsThe project targets young individuals facing financial difficulties and debt repayment challenges in the wake of the extended COVID-19 pandemic and escalating interest rates. This reflects the pressing need for effective relief systems and preemptive measures in response to the recent increase in youth debt.A joint survey conducted jointly by Statistics Korea, the Bank of Korea, and the Financial Supervisory Service last year revealed that household debt for those aged 29 or under increased by 41.2% as of the end of March 2022 compared to the same period in 2021.This effort aims to address the economic instability among youths, which could potentially lead to a financial crisis. Through this agreement, the involved parties will offer various measures, such as emergency loans, financial consultations, and follow-up support, to alleviate the financial strain on young debtors and assist them to cultivate improved financial habits.Starting this year, the Dunamu Next Dream project will span three years and will gradually broaden its scope and beneficiaries.

Nuvei Teams Up with Mastercard on APAC Instant PayoutsNuvei, a crypto-friendly Canadian fintech firm, has partnered with global payments giant Mastercard, unveiling plans to bring nearly instantaneous payout capabilities to online trading platforms and investors, with a strong focus on the Asia Pacific region.Photo by Allison Saeng on UnsplashHarnessing Mastercard SendThis collaboration, announced by Mastercard on Monday, harnesses the power of Mastercard’s Send service. Mastercard Send is a payment solution that enables secure, real time fund transfers for organizations around the world, in over one hundred markets.The service has already been made available to Nuvei’s clientele in Singapore, with Nuvei claiming that it will speed up payments for the benefit of the merchants and consumers that make up its user base.An increase in the rate of digitalization, spurred by growth in online trading and remote working on an international basis is fueling a need for ever more seamless and rapid payment solutions. Through the use of Mastercard Send, traders are able to cash out of their investments immediately and efficiently.Commencing later this year, Nuvei will extend the service to customers in Australia and Hong Kong.“Trading platforms rely on fast, secure deposits and payouts to optimize user experience. Partnering with Mastercard Send enables us to offer our partners another trusted, instant payout method that will win new traders and generate revenue growth,” said Philip Fayer, the Chair and CEO of Nuvei.This sentiment was echoed by Sandeep Malhotra, Executive Vice President of Products & Innovation, Asia Pacific at Mastercard. “Given the boom in online trading in the Asia Pacific region, Mastercard Send presents Nuvei’s customers with the opportunity to improve the payments experience for their users while standing to grow their own revenues — a win-win,” he said.Crypto service offeringNuvei claims to have an active customer base spread across two hundred countries, offering more than six hundred alternative payment methods. As part of its array of services, the fintech firm has also been active relative to crypto.In a move that served to integrate crypto alongside its conventional payments products, Nuvei purchased crypto payments firm Simplex in 2021. Simplex was founded in 2014, offering fiat to crypto conversions involving over fifty cryptocurrencies, while integrating with global exchanges such as Binance and OKX.Later that year, the Canadian fintech company collaborated with Mastercard rival Visa, in offering crypto friendly debit cards. Late last year, it signed a deal with Danish blockchain-based payment platform e-Money. This arrangement saw Nuvei enable a fiat on-ramp for e-Money’s euro stablecoin (EEUR).Nuvei recently released its 2023 second quarter results, recording a 68% increase in total trade volume at $50 billion compared to $20 billion in the same period last year. Earlier this year, the firm announced that it was acquiring Atlanta-based integrated payments provider Paya as part of a deal believed to be worth some $1.3 billion.

Oobit, the mobile crypto payment app based in Singapore, has raised $25 million in a series A funding round with the assistance of leading stablecoin issuer Tether. Funding global expansionThe company aims to broaden its reach across Asia, the Middle East and Latin America, with a strategic focus on bringing its platform to more mainstream users. While the company’s primary markets currently lie within the European Union and the UK, Oobit will be targeting the Asia Pacific (APAC) region and specific jurisdictions such as the United Arab Emirates (UAE), Canada and Australia. This expansion aligns with the company's goal of accelerating the development of a Web3 gateway. The funding round was led by Tether alongside Anatoly Yakovenko, co-founder of Solana Labs. Additionally, Germany’s 468 Capital, a technology investment firm, and Hong Kong-headquartered CMCC Global joined as contributors. CMCC invested through its $100 million Titan Fund, which it established last year to support blockchain startups in the Asian region.Photo by micheile henderson on UnsplashEnabling users to spend cryptoOobit's mobile payment app allows consumers to make purchases using cryptocurrencies, while merchants receive payments in fiat currency. The tap-and-pay feature enhances accessibility, enabling users to pay at any point of sale accepting Visa or MasterCard funds from their Oobit wallet. Furthermore, Oobit facilitates the direct purchase of bitcoin, ether and more than 35 other popular cryptocurrencies within its app. Tether CEO Paolo Ardoino expressed support for Oobit's development, emphasizing a shared vision for driving widespread cryptocurrency adoption globally. Oobit's co-founder and CEO, Amram Adar, highlighted the funding round as a pivotal moment, propelling the company forward in its mission to offer a straightforward way to pay with digital assets worldwide. Introducing non-custodial paymentsThe company plans to extend its capabilities to third-party wallets, transitioning into a non-custodial crypto payments app. This move will allow payments to and from external e-wallets, bridging the gap between Web3 and real-world spending. A company spokeswoman stated via email:"We have several partnerships in the pipeline that will be announced in the coming months," hinting at Oobit's commitment to ongoing collaboration and expansion. Oobit's vision is to empower crypto holders to Tap & Pay at over 100 million retailers globally, accepting Visa and MasterCard. Merchants can seamlessly embrace digital assets as a form of payment, and customers can conveniently use their digital assets for transactions. Future updates to Oobit will enable customers to make crypto payments, ensuring merchants receive fiat currency in return, mirroring the simplicity of credit card transactions. The native cryptocurrency of Oobit is the OBT token through which the platform rewards its growing community and ecosystem. The token is used for transaction fees and payments. The OBT token is currently trading at $0.0992, according to CoinMarketCap data. With the backing of industry leaders and a user-centric focus, Oobit is attempting to position itself to make significant strides in its mission to facilitate frictionless transactions and promote the adoption of cryptocurrencies on a global scale.