MARBLEX Introduces New Update to Multichain Service

DeFi investment platform Allbit.com adds portfolio and analytics servicesBlockchain firm Ozys, announced on Nov. 3 (local time) that it has added portfolio and analytics services to its comprehensive Web3 financial investment platform Allbit.com.Photo by rc.xyz NFT gallery on UnsplashIntegration with KlaytnThe beta version of Allbit.com was launched in March, with a trading view chart displaying real-time prices of cryptocurrencies based on trades that are made on KLAYswap, a major decentralized finance (DeFi) protocol launched by Ozys. KLAYswap is built on Korean tech juggernaut Kakao’s open-source public blockchain called Klaytn.Newest features“Users of KLAYSwap and KLAYSTATION can now easily check the status of their on-chain activities without having to track them separately,” explained Ozys CEO Roi Choi.The “My Portfolio” feature on the recently updated platform gives users a convenient way to monitor their asset balances, the liquidity on KLAYswap, and the staking status of KLAYSTATION, a staking tool based on the Klaytn network. For better risk management, the “Net Asset Trend” graphically displays daily changes in the user’s net asset value. Additionally, the “PNL (ROI) Dashboard” provides insights into profit and loss by showing real-time and periodic performance data. Whether tokens are held in a personal wallet or deposited into a particular service, the dashboard tracks token price movements to present users with an up-to-date view of their investment returns.Allbit.com customers can also keep up with activities on various wallets and market trends through their personalized watchlists and share their portfolios with others.Choi added that Ozys plans to add more functions to Allbit.com in the future to enhance the user experience and optimize convenience.

Huobi Aims for Hong Kong License Within 6–12 MonthsAccording to Justin Sun, the founder of layer one blockchain Tron and advisor to Huobi, the cryptocurrency exchange could have obtained a crypto trading license in Hong Kong by the end of the year.Photo by Pixabay on PexelsApplication submissionIn an interview with CoinDesk TV on Friday, Sun revealed that Huobi recently submitted an application to become a virtual asset service provider (VASP) in Hong Kong. While the approval process typically takes up to 18 months, Sun expressed optimism that a decision could be reached within the next six to twelve months.A legacy Chinese cryptocurrency exchange was driven out of the country a few years ago following the implementation of a crypto trading ban, and is now a Seychelles-headquartered company which currently has offices in Singapore, Japan, South Korea, and the United Kingdom.It had been previously understood that at least 10 companies with Chinese founders, including OKX, Bybit, and Huobi, had either announced or were known to be planning to announce their bid for licenses in Hong Kong. Sun’s comments today add clarity to the matter.Sun highlighted that during this grace period, which spans the next 18 months, the specific details of regulations will be developed. This includes guidelines on compliance with customer withdrawals and anti-money laundering requirements. He further explained that with the approval, Huobi Hong Kong will be able to operate, onboard customers, establish banking relationships, and serve its user base effectively.In a strategic move, Huobi relocated its headquarters from Singapore to Hong Kong, driven by the city’s aspirations to become a leading virtual asset hub as early as this summer. The exchange’s decision to establish a presence in Hong Kong positions it favorably to leverage the emerging opportunities in the region.Expectations of more applicantsWhile it’s not entirely clear who else has applied, Sun speculated that five to six other major players could follow suit. Among the potential contenders mentioned were OKX, Gate.io, Bitget, and ByBit. This suggests a potential wave of interest in Hong Kong as a regulatory-friendly jurisdiction for virtual asset trading.When asked about Huobi’s plans to enter the Canadian market and compete with established players like Coinbase and Kraken, Sun made it clear that Huobi has no immediate intentions to operate in Canada. He emphasized the importance of prioritizing friendly jurisdictions, with a specific focus on regions like the Caribbean, Hong Kong, and Japan.Hong Kong’s regulatory approach towards cryptocurrencies and virtual asset service providers has gained attention in recent months. The city’s commitment to establishing a robust framework for digital asset trading and ensuring compliance with international standards has drawn interest from industry players seeking regulatory clarity and stability.As Huobi progresses through the application process and awaits a decision on its VASP license, the outcome will have significant implications not only for the exchange itself but also for the broader crypto ecosystem in Hong Kong. The successful acquisition of a license by Huobi could set a positive precedent, attracting more exchanges to establish a presence in the region and further solidifying Hong Kong’s position as a leading virtual asset hub in Asia.The developments in Hong Kong’s regulatory landscape will be closely monitored by industry participants as they shape the future of virtual asset trading in the city.

amana, a Dubai-based neo-broker, has announced that it is adding another 300 cryptocurrencies to its app. 450 crypto assetsA neo-broker is an online-based digital investment service provider that leverages technology and online tools to make investing and trading more accessible to the broader investing and trading public. The firm announced the product expansion via a press release published on its behalf by GlobeNewswire on March 17. Prior to the announcement, amana had offered its service users access to 150 cryptocurrencies. Expanding the range to a total of 450 cryptocurrencies makes it the leading broker in the Middle East and North Africa (MENA) region in terms of the breadth of digital assets it has made accessible to users.Photo by Christoph Schulz on UnsplashAll-in-one service offeringThe company described the offering as “unmatched,” allowing amana to firmly position itself as the go-to platform where the seamless trading of both traditional and digital assets is concerned. amana believes that its offering fills a gap in the market. Most platforms, it claims, either cater to the digital assets market or the traditional finance market. The platform sees itself as an all-in-one solution, making it unnecessary for investors and traders to create multiple accounts. Speaking to that gap in the market that the company wants to exploit, amana CEO Muhammad Rasoul stated: “We’re making it easier than ever for our customers to trade digital assets alongside stocks, forex, and commodities—all in one place, with zero hassle.” The firm added that the expansion isn’t just about offering a greater selection of digital assets. The announcement said that “it’s about seamless access, competitive pricing, and a frictionless trading experience.” The company described the amana app as “intuitive,” with the ability to empower both seasoned traders and new investors through the ease of trading within a few taps. Alongside the 450 digital assets, the platform provides users with access to U.S. stocks, FX, commodities, gold and global exchange-traded funds (ETFs). amana also facilitates users to trade using leverage and to avail of automated investment plans. Futures products and contracts for difference (CFDs) complete the product offering lineup. Having first launched in September 2022, the platform claimed recently that it has over 320,000 users accessing the service. Besides Dubai, amana has offices in London, Limassol and Beirut. The company is not the first online broker to bridge the gap between traditional finance and digital assets. American commission-free trading platform Robinhood has made in-roads into crypto. The company has plans to roll out its crypto offerings to the Singapore market later this year.  UK-based neobank Revolut has expanded into the world of investing, including crypto as part of that offering. It emerged last year that the firm has plans to launch a stablecoin. flatexDEGIRO, a European online broker that offers stocks, bonds and exchange-traded funds (ETFs), outlined last November that it plans to extend its product offering to include cryptocurrencies.