Julius Baer Expands Crypto Wealth Management Services in Dubai

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.

Wemade Introduces New DeFi Services on WEMIX3.0 MainnetKorean blockchain game maker Wemade announced today that it will deploy decentralized finance (DeFi) services Kurrency and Konverter on the WEMIX3.0 Mainnet.Photo by Shubham Dhage on UnsplashTwo DeFi servicesKurrency utilizes a collateralized debt position (CDP) model, providing users with the capability to lock up a certain amount of virtual assets in order to mint, deposit, and swap the WEMIX Crypto Dollar (WCD). WCD, a cryptocurrency designed to minimize price fluctuations, complements the WEMIX Dollar, which is fully backed by the stablecoin USDC.Konverter is a new decentralized exchange (DEX) that combines the strengths of established DEXs. On June 9, Konverter will demonstrate functions that contribute to the efficiency of Kurrency. These functions involve seamless swaps between WCD and a variety of stablecoins. The full-fledged version of Konverter, set to launch in the second half of this year, will offer a broader array of swap services along with a “governance function” that doesn’t require forced lock-ups.Mainnet firstThe initial launch of Kurrency and Konverter will take place on the WEMIX3.0 Mainnet. Their goal is to magnify the ecosystem’s scope by boosting the utility of assets within the network and harnessing the synergies derived from decentralized apps (dApps).Multichain expansionLater, the two services on the WEMIX3.0 Mainnet will become more refined and reliable, paving the way for a multichain expansion. A successful implementation will improve interconnectivity between various blockchains, ultimately bolstering the value of the WEMIX ecosystem.Engaging usersStarting today, Kurrency is initiating various quests to encourage user participation. Users gaining experience from these quests will become eligible to join community events, promoting a more vibrant and engaged user base.

Upbit lists Tottenham Hotspurs fan tokenSouth Korea’s largest cryptocurrency exchange Upbit listed a fan token for the Tottenham Hotspurs — a world-renowned football club of the English Premier League and home to captain Son Heung-min, who also leads the South Korean national team — on its BTC market on Thursday (KST), according to an official announcement on the exchange’s homepage. Listed under the ticker symbol SPURS, the token is worth about KRW 6,000 ($4.60) as of this writing.Photo by Memories on 35mm on UnsplashExpanding football’s presence in cryptoUpbit added a total of 23 tokens to its BTC market this year, eight of which are fan tokens associated with football clubs, including Tottenham Hotspurs, AC Milan, Arsenal F.C., Atlético de Madrid, FC Barcelona, Manchester City F.C., Inter Milan and SSC Napoli, which the exchange signed a two-year partnership contract with in January. The team notably houses one of South Korea’s top footballers Kim Min-jae. Upbit also previously listed a Paris Saint-Germain token in 2021, which player Lee Kang-in recently joined this year.With the most recent addition of SPURS, Upbit now supports a total of ten football club fan tokens — all of which can only be traded on the sports blockchain network Chiliz Chain — highlighting its recognition of the sport’s popularity among Koreans. In particular, the Chiliz token (CHZ) also experienced a 10% price boost on Thursday when SPURS was listed.Upbit’s focus on footballHowever, Upbit’s consistent listing of football-related tokens contrasts with its overall modest approach to listing new cryptocurrencies this year. The exchange has introduced just 12 cryptocurrencies so far this year on its Korean won-denominated market, which is just a fraction of the 88 that were listed by Bithumb, South Korea’s second-largest exchange.Bithumb, which had already been supporting trading for SPURS on its Korean won-dominated market, also saw the token’s price double as a result of Upbit’s listing, jumping from around KRW 5,500 to KRW 11,300.