Bitgamo Set to Launch 150 Crypto ATMs in Asia

Singaporean VC Pledges Funding for Web3 AcceleratorSingaporean crypto investment venture capital firm, Foresight Ventures, has committed to doubling down on funding a Web3 Accelerator.Back in November, the firm launched Foresight X, a Web3-focused incubator program. At the time, it committed to allocating $10 million to be divided between three categories of Web3-centric projects and collaborations. Fast forward six months and the firm is now committing to stump up an additional $10 million in funding for the project.Categories include ecosystem projects, research grants, and an eight-week incubator program which was initially offered to thirty early-stage projects. In that initial funding round, start-ups were being supported with funding of $50,000, up to a maximum of $200,000.Photo by Shubham Dhage on UnsplashSecond phaseThe project is now entering its second phase, accepting applications once again from a new round of start-up applicants. In this instance, the focus will move towards Web3 projects with an emphasis on artificial intelligence (AI), zero-knowledge cryptography, bitcoin, non-fungible tokens (NFTs), machine learning, and liquid staking derivative products.With second-round funding, each selected project will be funded to the tune of $200,000 rather than the funding range of $50,000 to $200,000 employed on the first phase. Additionally, up to three mentors will be assigned to each successful applicant project. On top of that, one fund partner from Foresight Ventures will be assigned to each start-up in order to provide them with a steer towards growth and development. The program will culminate with a Demo Day, facilitating each project to showcase their service or product offering.Bitget partnershipFounded in 2020, Foresight Ventures has progressed in a short space of time, from having $80 million assets under management (AUM) to an AUM of $400 million today. The venture capital outfit is led by seasoned venture professionals with backgrounds in companies like Google, Bitmain and Sequoia Capital.Among its leading investments is SEI, the layer one blockchain project that is optimized for transaction speed and throughput. In April, the company committed $50 million towards SEIs $120 million ecosystem fund. In January, it invested $15 million in Singapore-based digital asset infrastructure and market making firm, CyberX.Last month the firm partnered with crypto derivatives trading platform Bitget in contributing towards its Asia-focused Web3 fund. Focused on funding outstanding Web3 projects in the region, Bitget has put together a $100 million fund. Foresight Ventures joined Dragonfly Capital, SevenX Ventures, DAO Maker and ABCDE Capital in expressing interest in investing in the fund, ultimately investing and partnering with Biget on the initiative.The firm has come a long way in a short space of time, signaling its intent in March 2022 when it committed to investing up to $200 million in Web3 start-ups and blockchain projects over the course of three years. Other key Foresight Ventures portfolio companies include Singapore-based digital assets financial services firm, Matrixport, and metaverse developer Everyrealm. Aside from its headquarters in Singapore, the firm also maintains a presence in Shanghai, allowing it the reach to cover crypto-related projects throughout the Asian region.

FD International joins hands with Lbank to expand global blockchain ecosystemFD International, the parent company of blockchain consulting and IT company Blockchain Innovation, announced on Friday (local time) that it has signed a memorandum of understanding (MOU) to collaborate with the global cryptocurrency exchange LBank.Photo by Shubham Dhage on Unsplash“Blockchain-related industries are growing exponentially worldwide, and we hope to create an ecosystem that can have a positive impact on many people through our well-prepped collaboration with LBank,” said FD Group CEOs Jeon Da-seul, Lee Seo-yeon, and Jeon Sol.Lbank’s global presenceEstablished in 2015 in Indonesia, LBank currently boasts a user base of over 10 million people and a daily trading volume of up to $1.5 billion. It currently supports over 50 fiat currencies, several major cryptocurrencies like Bitcoin and Ethereum and a wide variety of payment methods including Apple Pay. It also operates branches in other countries like the U.S. and Canada.Navigating regulatory landscapesFD International has been working on creating Travel Rule solutions for Korean exchanges such as Bithumb, Coinone and Korbit in accordance with relevant regulatory guidelines like the Act on Reporting And Using Specified Financial Transaction Information. The Travel Rule refers to the Financial Action Task Force’s (FATF) Recommendation #16, which outlines that VASPs must share certain personal information about customers — including names and account numbers — when facilitating crypto transactions that exceed a certain amount.The firm has also been leveraging its expertise in the blockchain and IT fields to help accelerate major companies such as Klaytn and Everscale. Notably, the company adapts its solutions and technological capabilities to regulatory trends, such as the Financial Services Commission’s (FSS) regulations on security token offerings (STOs) and the European Union’s Markets in Crypto-Assets Regulation (MiCA) legislation.

Assemble Protocol’s Native Token Now Supported by Ceffu’s Custody SolutionAssemble Protocol, a blockchain-based global point integration platform headquartered in Hong Kong, has announced a partnership with Ceffu, previously known as Binance Custody, according to South Korean blockchain news outlet Bonmedia.Ceffu serves as the sole institutional custody partner of Binance Exchange, the world’s largest cryptocurrency exchange based on trading volume. It started as a custodian platform in 2021 and underwent a rebranding from Binance Custody to Ceffu in February. Ceffu offers support for a diverse range of digital assets, including BTC, ETH, BNB, LTC, and XRP.Photo by rc.xyz NFT gallery on Unsplash$1M minimum depositThrough this collaboration, ASM, the native token of Assemble Protocol, has been included in the list of Ceffu’s supported assets, enabling ASM holders to securely store their tokens in the custodian’s cold storage. The custody service imposes a minimum deposit requirement of $1 million worth of digital assets.Reward points to ASM tokenAssemble Protocol offers users the ability to unify their reward points obtained from various debit and credit cards into ASM. By integrating these scattered rewards, users can conveniently manage and utilize their points through a unified digital currency. The platform also rewards participants within its ecosystem with tokens based on their contributions. The more participants contribute, the greater their rewards. Moreover, advertisers can pay fees to Assemble Protocol to promote their products within the ecosystem.Park Kyu-do, CEO of Assemble Protocol, expressed his appreciation for Ceffu’s support of ASM, emphasizing the security and transparency it offers for storing assets. Park also mentioned that the collaboration with the Binance ecosystem will lead to further expansion of the protocol.Meanwhile, Assemble Protocol plans to launch mobile and desktop versions of Assemble 2.0 later this year.