Bybit CEO Applauds Hong Kong and UAE Regulatory Approaches

BingX embarks on rebrand to further service offeringBingX, the Singapore-headquartered cryptocurrency exchange platform, has taken the decision to rebrand the business.Improving the trading experienceThe platform, originally known for its role in guiding newcomers into the crypto space through copy trading, claims that the move is designed to elevate the trading experience for users by prioritizing simplicity, efficiency and security.This transformation includes a substantial overhaul of BingX’s visual identity, highlighted by a streamlined logo that caters to the practical needs of traders. The changes extend to the platform’s color palette and typography on digital platforms, all aimed at making the trading process more intuitive and user-friendly.Photo by Patrik Michalicka on UnsplashBroadening market appealWhile initially recognized for its focus on crypto beginners, BingX is now broadening its horizons. The platform introduces advanced features catering to a diverse range of crypto enthusiasts, from novices to seasoned traders. This expansion underscores BingX’s adaptive approach to the dynamic cryptocurrency market, addressing the evolving needs of its user base.Megan Nyvold, Head of Branding at BingX, outlined that the rebranding aligns with the company’s enduring vision of democratizing crypto trading globally, emphasizing diversity and creating professional, user-centric trading environments.From ‘Trading Made Easy‘ to ‘Empowering Traders’In tandem with the visual changes, BingX has also unveiled a new tagline, transitioning from “Trading Made Easy” to “Empowering Traders.” This shift emphasizes the company’s commitment to supporting traders at all levels, ensuring access to reliable and transparent services.In a blog post published by the company on Thursday, Nyvold stated:”Over the past five years, BingX’s vision to build a gateway for the next billion crypto users has been unwavering. As part of this evolution, we have refined our core values with a renewed emphasis on promoting diversity. As we introduce our refreshed brand identity, we reaffirm our assurance of empowering our users, focusing on a more professional and user-centric trading environment that aligns with our vision for collective success.”This latest move is one of a number of ongoing efforts BingX has made this year to further develop the business. In July, the company introduced AstraBit to the platform, an automated algorithmic trading and portfolio management tool, to enhance and automate the crypto trading experience for its platform users.The following month, it introduced a Multiple Deposit Addresses feature to enable greater flexibility and convenience for service users. September brought a collaboration with WunderTrading, adding the use of its automated trading bots to BingX platform users. Earlier this year, the company had integrated crypto portfolio tracker CoinTracking with the platform, in an effort to allow service users to generate reports for tax purposes with ease.BingX was founded in Singapore in 2018 by Josh Lu. The platform claims to have five million service users.

Korbit CEO partakes in anti-drug relay campaignSouth Korean cryptocurrency exchange Korbit’s CEO, Oh Se-jin, has joined the No Exit anti-drug campaign — a nationwide relay campaign launched in April by the National Police Agency, the Korean Association Against Drug Abuse and other relevant institutions to raise public awareness about the dangers of drug addiction and promote a collective effort to prevent drug-related crimes, according to local news outlet ET News on Wednesday (local time). So far, numerous figures across various sectors and industries have participated, including actor Choi Bool-am and the president of the Korean Nursing Association Kim Young-kyung.Photo by Hal Gatewood on UnsplashEncouraging collective vigilanceThe campaign’s slogan draws a metaphor between drugs and a maze that cannot be escaped once it has been entered. Participants in the campaign are obligated to share photos with a message that reads, “Do not start drugs — it is a maze with no exit”, and nominate the next participants.“I hope that all citizens will realize the seriousness of drugs through the No Exit campaign, and I aspire to contribute to creating a safer society. Korbit will fulfill its social responsibility in the cryptocurrency industry and contribute to building a healthier society,” Oh said.Next participantsOh was tagged in the campaign by Lee Hyo-jin, CEO of the peer-to-peer (P2P) financial services company 8Percent. In turn, he nominated Lee Sang-ho, CEO of HSBC’s Korea office, and Kim Ji-yun, CEO and Co-founder of DSRV Labs, as the next participants.

CoinDCX Expands Okto Wallet’s Global Reach with Transak IntegrationIndian cryptocurrency exchange CoinDCX has moved to broaden the accessibility of its self-custody wallet, Okto. The exchange recently announced the addition of Transak, a major on-ramp platform that enables a fiat-to-crypto payment gateway integration, to enhance the wallet’s global capabilities.Photo by Kanchanara on UnsplashBuilding on OktoThat’s according to a report published by Cointelegraph on Thursday. Okto was introduced by CoinDCX in August 2022, and the firm swiftly moved to expand its services. The integration with Transak represents a pivotal step in this direction.This strategic integration immediately expands the reach of the Okto wallet from supporting 60 countries to an impressive 155 jurisdictions. Neeraj Khandelwal, Co-Founder of both CoinDCX and Okto, emphasized the significance of this move, stating that it allows users in numerous countries to engage with cryptocurrencies directly through Okto.While Transak supports approximately 160 tokens, Okto goes above and beyond by allowing users to store more than 1,000 tokens across multiple blockchain networks, including Polygon, Fantom, Avalanche, and others. According to an Okto spokesperson, the wallet can accommodate up to 3,000 tokens, providing ample flexibility for cryptocurrency enthusiasts.Seamless fiat-to-crypto conversionKhandelwal also spoke to the value add that a more seamless asset conversion process will bring. He stated:“The integration of Transak now allows users to seamlessly convert fiat to crypto right within the app. Prior to this integration, users had to transfer funds from another decentralized wallet, such as MetaMask.”Transak’s integration brings a key feature to Okto — the ability for users to purchase cryptocurrencies like Bitcoin (BTC) directly within the wallet. Notably, this functionality accepts a wide range of fiat currencies, including the US dollar, euro, Hong Kong dollar, and others. Prior to the Transak integration, users were required to transfer digital assets from external wallets like MetaMask. With this development, Okto streamlines the process, enabling users to seamlessly convert fiat into crypto within the app itself.Months-long integration processIt’s worth noting that although the announcement of Transak’s support on Okto was made on Thursday, the integration process began several months earlier. As early as August, some Indian users reported encountering Transak while Okto was in the testing phase. The integration process itself commenced in April, with the official roll-out to all customers occurring in mid-September.Transak, a global Web3 payment and onboarding infrastructure provider, plays a crucial role in bridging the gap between traditional finance and the digital asset ecosystem. It is a well-established on-ramp solution in the cryptocurrency industry, with platforms like MetaMask, Coinbase, and PancakeSwap among its clientele.In recent days, Okto has also announced a partnership with ReHold, a multi-chain protocol which has been developed to enable users to maximize their crypto earnings. In the coming weeks, Okto and ReHold will work towards integrating Okto’s wallet with ReHold.The Okto-Transak integration is in line with Transak’s mission to facilitate crypto adoption by providing easy access to digital assets. Earlier this week, Transak also announced its integration with The Open Network’s (TON) wallet, known as Tonkeeper. This collaboration opens up Toncoin (TON) purchases directly with fiat currencies to users in more than 150 countries, marking a significant milestone in expanding the TON ecosystem.