WEMIX Listed on Crypto Exchange CoinDCX, Strengthening Presence in India

Klasha, a leading global cross-border payment company based in Africa, has officially announced its partnership with Singapore-headquartered FOMO Pay, a digital payment, banking and digital assets solutions provider in the Asian market. Streamlining collections and paymentsIn a press release published on Wednesday, the two companies outlined the nature of the partnership. Through this collaboration, FOMO Pay will optimize collections for its corporate clients by leveraging Klasha’s platform. This synergy enables businesses to receive payments in various local African currencies and methods, with the added flexibility of receiving payouts in their preferred currencies.Photo by George Bakos on UnsplashUnlocking growth opportunitiesThe duo also envision the unlocking of growth opportunities for Asian businesses looking to expand into new markets within Africa. By facilitating seamless cross-border payments, Klasha and FOMO Pay believe that they can help businesses diversify and broaden their customer base. In the joint statement, the management teams of Klasha and FOMO Pay expressed their enthusiasm for the collaboration. Jess Anuna, CEO of Klasha, shared her insights, stating:"With combined efforts, we will continue to enable merchants in Asia to collect payments from the continent more seamlessly through our payment rails and our unique ability to terminate payments in greater Asia." Africa has been undergoing a transformation from the perspective of trade relationships while Asia is emerging as a pivotal trading partner, contributing to over 40% of both exports and imports for the continent. It is with that in mind that Klasha and FOMO Pay have united to introduce a platform aimed at enhancing cross-border payment capabilities for businesses and merchants across Africa and Asia. Crypto credentialsFOMO Pay claims to be Asia’s first licensed gateway connecting fiat currencies and cryptocurrencies. The firm was established in 2015 and is regulated by the Monetary Authority of Singapore (MAS) to conduct cross-border money transfer services, domestic money transfer services, digital payment token services and merchant acquisition services. In 2022 FOMO Pay announced a partnership with enterprise blockchain firm Ripple, which resulted in the fledgling company using Ripple’s On-Demand Liquidity (ODL) offering, a product that revolves around the use of Ripple’s XRP in moving value globally, without the need for correspondent banking relationships. In July of last year, FOMO partnered with crypto compliance and blockchain analytics firm Elliptic. That partnership is aimed at building out a payment ecosystem in Asia that offers seamless interoperability between fiat currency and cryptocurrency. With that same goal in mind, last September FOMO Pay initiated a collaboration with crypto sector decision making specialist, Notabene, who are helping the company optimize in terms of know-your-transaction capabilities. Zack Yang, co-founder of FOMO Pay, emphasized the partnership's significance, stating:"In this era of globalization, the synergy between FOMO Pay and Klasha marks a significant milestone in increasing financial connectivity between Africa and Asia. Our partnership is more than just a business collaboration; it's a commitment to fostering seamless payments and economic growth across continents. This collaboration not only opens up new avenues for African and Asian merchants, facilitating market expansion and easing entry into new territories, but also provides greater opportunity for merchants in those regions to fully benefit from day-to-day use of digital assets in international trade.

NEOPLY Receives Support from Abu Dhabi for Blockchain Expansion in UAENEOPLY, the open blockchain platform of South Korean investment holding company Neowiz Holdings, is set to receive support from the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE) through its Innovation Programme, which provides incentives to a wide range of businesses in financial services, technology, and other high-growth areas, according to a press release.Photo by Kamil Rogalinski on UnsplashFinancial & non-financial supportWith the assistance of ADIO, NEOPLY will establish its global headquarters, H-Lab, for blockchain businesses in the Abu Dhabi Global Market (ADGM). H-Lab will benefit from both financial and non-financial support, including incentives, fee exemptions, and regulatory advantages concerning cryptocurrencies and blockchains. Moreover, H-Lab intends to collaborate with local universities to develop education and scholarship programs focused on Web3 and decentralized finance (DeFi).Operations in MENANEOPLY’s inclusion in the Innovation Programme of ADIO demonstrates the competitiveness of the blockchain project, providing it with the opportunity to expand its operations in the Middle East and North Africa (MENA) region. By leveraging the support, infrastructure, and talented workforce available through ADGM, the company will forge partnerships with leading global firms residing in the capital of the UAE to enhance its global presence.Korean firms in Abu DhabiAbu Dhabi has been increasingly attracting Korean companies. ADIO, an affiliate of the Abu Dhabi Department of Economic Development, was established in 2019 as part of the country’s initiative to promote non-oil industries and draw in advanced technology companies. In 2021, ADIO opened an office in Seoul to support the entry of innovative Korean firms into the UAE. Thanks to these efforts, several Korean enterprises, including cloud operations services company Bespin Global, hospitality tech company H2O Hospitality, and smart farm operating group K-BTS Consortium, have established entities or expanded their operations in Abu Dhabi.DeFi regulatory frameworkNEOPLY’s H-Lab will collaborate with ADGM to facilitate its development of a regulatory framework for DeFi, aspiring to become one of the world’s first regulated DeFi providers. The NEOPIN protocol, a centralized decentralized finance (CeDeFi) platform developed by NEOPLY, will work closely with ADGM’s Financial Services Regulatory Authority (FSRA) to establish an efficient and effective regulatory framework.Abdulla Abdul Aziz Al Shamsi, Acting Director General of ADIO, said, “Abu Dhabi’s enabling environment, coupled with the availability of world-class infrastructure and skilled talent, has positioned the UAE capital as a leading destination for investment in the Middle East. NEOPLY joins a wave of other innovative South Korean companies choosing Abu Dhabi as the catalyst for their next growth phase. They are joining a thriving innovation ecosystem and bringing new ideas and solutions to life in the UAE capital.”NEOPLY CEO Park Jin-ho stated, “With ADIO’s support, we are establishing our global headquarter in the heart of Abu Dhabi, which fills us with great anticipation for our financial innovation in the Middle East. With the active support of ADIO, the collaboration with ADGM, and the infrastructure of Abu Dhabi, we are committed to setting new standards in the global blockchain industry.”

OKX announces delisting of 26 trading pairsCryptocurrency exchange OKX has made a significant announcement regarding the delisting of more than 20 trading pairs, with a view towards its ongoing maintenance of strict listing criteria and performance monitoring. This decision will impact a considerable number of trading pairs across various cryptocurrencies, with the process scheduled to commence later this week.OKX outlined details of this recent trading pair purge in a statement published to its website on Monday. Among the trading pairs set for removal are CELO-USDC, AXS-USDC, APE-BTC and the HNT-USDT trading pair, which will be delisted on Nov. 10. Notably, Bytom (BTM), a Chinese crypto project, which has experienced a substantial 46% drop in value since Monday, is also among the tokens to be delisted.The exchange is advising users to manage their assets accordingly in preparation for the changes. Withdrawals for these tokens will cease on Jan. 10, 2024. During this transitional period, OKX recommends that users cancel any open orders linked to the impacted trading pairs to avoid automatic cancellations, which could result in processing delays.Photo by Maxim Hopman on UnsplashSAITAMA delistingDeposits for the affected tokens, including HNT, BTM, and SAITAMA, were halted by OKX on Nov. 3. SAITAMA, an Ethereum-centric ERC20 token, is the primary payment medium on the Saitama platform. There were mixed reactions to the delisting of the coin. One community member took to X, stating:“I will say I do think it isn’t cool for OKX to delist #Saitama considering we didn’t get on there for the reasons specified of delisting. The listing was won through hours of Spaces and helping people get VPNs to win a contest. Regardless of what the market is doing we won fairly.”Another Saitama project supporter took a more pragmatic view, stating:“Delisting Is a tragedy? I don’t think so. What did the OKX listing for the token price? What is the difference between holding or selling with or without okx? Volume was too low, and this isn’t a news, so they will delist. They will relist again….#SAITAMA”OKX has embarked upon several initiatives over the course of 2023 in an effort to further the user proposition offered by the platform. From a marketing perspective, the company took the decision in October to retire the Okcoin brand, rebranding its various sub-platforms instead to OKX.The Seychelles-incorporated company indicated in September that it expects to have secured a virtual asset service provider (VASP) license in Hong Kong by June of next year.Delisting banksTokens are not the only items to be delisted by the exchange recently. Alongside competitor Bybit, the company decided to delist sanctioned Russian banks Tinkoff Bank and Sberbank from its peer-to-peer exchange platform.This move by OKX reflects the exchange’s efforts towards maintaining a high level of integrity and performance. Listing coins that fall below a minimum acceptable level of liquidity and trading volume can leave them much more exposed to the risk of manipulation. By adhering to stringent listing criteria and promptly addressing issues, the company is making a greater effort towards maintaining a position as a trusted and secure trading platform for cryptocurrency enthusiasts and investors.