BC Card Launches Innovative Card Payment NFT Service

China's authorities have dismantled an underground bank that illicitly utilized cryptocurrency for currency exchange operations between the Chinese yuan and the South Korean won, involving approximately 2.14 billion yuan ($295.8 million). China has a history of imposing strict capital control policies, prompting some individuals and entities to resort to cryptocurrency as a means of bypassing these regulations. According to a report published by local police in Northeast China’s Jilin province, six suspects were apprehended for their alleged involvement in facilitating the illegal operations spanning China and South Korea.Photo by Hyory Liu on UnsplashExploiting cryptocurrency featuresThe suspects purportedly took advantage of cryptocurrency features like transaction anonymity and decentralization to execute foreign currency exchange activities unlawfully. Investigations revealed that the criminal group utilized domestic accounts for fund receipt and transfer, alongside over-the-counter cryptocurrency transactions. Supporting illicit transactionsThe arrested individuals allegedly aided various entities, including South Korean purchasing agents, cross-border e-commerce platforms and import-export trade firms, in circumventing currency exchange regulations between the Chinese yuan and the South Korean won. 

Xangle and CertiK Team Up to Promote Mass Adoption of Web3CrossAngle, the operator of the virtual asset data analysis platform Xangle, announced on Wednesday that it has teamed up with CertiK, a global blockchain security ranking platform, to promote the mass adoption of Web3 technologies and contribute to the formation of a secure and transparent blockchain ecosystem.Photo by Shubham’s Web3 on UnsplashStrengthening security and data insightsCertiK is a security-focused ranking platform for analyzing and monitoring blockchain protocols and DeFi projects. Through this new partnership, Xangle will gain access to Skynet, CertiK’s Web3 security analysis platform that monitors and visualizes on-chain and off-chain data with cutting-edge technology, along with other API data. In turn, CertiK will receive access to Xangle’s cryptocurrency reference price API and on-chain data analyses.CertiK’s industry analysis reports will also be regularly featured on Xangle’s research platform. Xangle’s research reports are well-regarded throughout the industry and have been featured on local and international financial information platforms such as Bloomberg Terminal, CoinMarketCap, Yonhap Infomax, and FnGuide.Positive outlooks“We are delighted to partner with CertiK, a global leader in Web3 security. We are already anticipating great synergy with our strong capabilities in on-chain data analysis,” said Jake Lim, Chief Business Development Officer (CBDO) of Xangle. “We believe that this collaboration between our two companies will accelerate the mass adoption of Web3 technologies.”Jason Jiang, Chief Business Officer (CBO) of CertiK, added that the partnership is expected to not only enhance security and transparency in the blockchain ecosystem but also help set new industry standards.This partnership between CertiK and Xangle reflects the growing importance of security and data analysis in the rapidly evolving Web3 landscape, as both companies work together to drive its widespread adoption.

MEXC Ventures, the venture arm of the Seychelles-headquartered MEXC global crypto exchange, has announced a strategic investment into Triv, one of Indonesia’s largest crypto exchange platforms, as part of an effort to drive further expansion of the business.Photo by Eugenia Clara on UnsplashSupporting blockchain & crypto innovationIn a press release published via PR Newswire on Aug. 5, MEXC Ventures confirmed the strategic investment, which was agreed upon based on a $200 million valuation of the Triv business. MEXC Ventures asserted that the investment falls in line with its global strategy of supporting and developing innovative blockchain and crypto sector projects. Additionally, the firm claims that the move will enable it to capitalize on Southeast Asia’s fast-growing digital asset market. MEXC Ventures Investment Director Leo Zhao said that the company was excited “to back Triv in its next phase of growth." He added: "Indonesia is one of the most dynamic and promising digital asset markets in the region, and Triv has earned a strong reputation for compliance, security, and user trust. Through this partnership, we look forward to supporting Triv in serving Indonesian users even better and accelerating the adoption of digital assets across the country." Well-established exchangeEstablished back in 2015, Triv provides spot crypto trading services, alongside staking services for Ethereum (ETH) and Cardano (ADA). The platform supports payment systems like Advcash and PayPal to enable users to make e-commerce payments and to cover everyday expenses such as utility bills. The platform is recognized for its advanced trading features. Earlier this year, Triv added the Triv Shield, a security tool that prevents platform users from inadvertently interacting with malicious contracts. The company operates under the oversight of Indonesian regulators, the Financial Services Authority (OJK) and the Commodity Futures Trading Regulatory Agency, better known as BAPPEBTI. Gabriel Rey, Founder and CEO of Triv, said that the partnership will enable the platform to expand its coin offerings, “enhance liquidity and introduce more innovative products for both new and existing users.” He believes that the partnership will also be helpful in maintaining CryptoWave Media, an educational platform that forms part of Triv Group, as a leading crypto media outlet in Indonesia.  Earlier this year, MEXC Ventures launched a $300 million Ecosystem Development Fund geared towards accelerating innovation and ecosystem growth within the blockchain sector. At the time, MEXC Chief Operating Officer (COO) Tracy Jin said that the company’s overall vision was to transition from a trading venue to an ecosystem platform, facilitating the needs of crypto industry firms. The company previously made a $16 million strategic investment into Ethena, a stablecoin project built on Ethereum that offers the USDe decentralized stablecoin pegged to the U.S. dollar. As part of that deal, it also bought $20 million worth of USDe. In April, MEXC Ventures launched IgniteX, a $30 million initiative designed to support and foster Web3 talent and innovation.