Finger Labs to leverage Web3 services for Dream Ladders’ college entrance briefing

In a bid to foster gender diversity and inclusivity within the blockchain industry, cryptocurrency exchange Bitget has committed $10 million to invest in women-led startups in the Web3 and blockchain sector. Blockchain4HerThe announcement, made at the Web3 Hub Davos event on Tuesday, a part of the World Economic Forum 2024, highlights Bitget's initiative in promoting equality in a rapidly advancing sector. Bitget's research reveals a stark gender bias within the blockchain sector, with only 6% of startup funding directed towards female-led projects. Bitget’s Blockchain4Her project has been established as a direct consequence, in order to address this imbalance. Blockchain4Her has been designed to provide crucial support, mentorship and recognition to women in the industry. The initiative will include tailored incubation programs, pitch competitions exclusively for women-founded startups and the Women in Blockchain Summit & Awards, aimed at acknowledging outstanding achievements by women in the blockchain space. Recognizing the need for comprehensive measures, Bitget aims to confront the gender disparity by creating a nurturing environment through these multifaceted efforts. By offering specialized support for female entrepreneurs, the initiative aims to encourage greater involvement and leadership roles for women in the blockchain space.Photo by Shubham Dhage on UnsplashIndustry ambassadorsAs part of the Blockchain4Her program, Bitget plans to invite industry leaders to serve as ambassadors, supporting gender diversity in the blockchain industry. These ambassadors will play a crucial role in advocating, engaging and driving positive changes, fostering an inclusive environment for women in the blockchain sector. Bitget's commitment to addressing gender disparity in the blockchain industry is further underscored by its recent report on Web3 venture capital funding by gender. The report, published on Jan. 11, revealed that less than 7% of VC funding in the industry went to female-led startups, emphasizing the need for comprehensive measures to increase inclusiveness and accessibility for women in the blockchain sphere. The company is itself leading from the front on the issue, with Gracy Chen as managing director, one of the few crypto exchange platforms headed up by a female executive. Blockchain4YouthIt’s not the first time that the company has embarked upon a corporate social responsibility-themed project. It follows Bitget's earlier commitment to nurturing talent through the “Blockchain4Youth” initiative, which was announced in May of last year. The $10 million initiative set out to serve the objective of “empowering and inspiring younger generations to use Web3 and crypto tools to create and engage in a decentralized space.” It focuses on providing courses through Bitget Academy, hosting university lectures on Web3, incubating innovative projects by young entrepreneurs and organizing hackathons for individuals under 30 to identify promising leaders. A by-product of Blockchain4Youth also involved the company commencing to invest in Indian blockchain startups in November. Bitget's Blockchain4Her initiative represents a significant step towards fostering a more equitable blockchain space. By championing inclusion and diversity, Bitget not only contributes to a fairer industry but also supports the sustainability and growth of the broader technology sector. 

Crypto-Friendly Xapo Bank Enters Indian MarketXapo Bank, a cryptocurrency bank based in Gibraltar, has set its sights on India and plans to offer banking and cryptocurrency services in the country.Xapo, which claims to be the first bank in the world to integrate traditional private banking with crypto, issued a press release which was published via Bloomberg on Thursday to announce the development.Photo by Julian Yu on UnsplashMassive market opportunityWith a population of over 1.3 billion, India presents a massive opportunity for Xapo Bank, which is backed by prominent investors like SoftBank, DST Global, and Ribbit Capital. This move comes at a time when India has seen impressive foreign inflows of $15.5 billion in the first quarter of 2023.The CEO of Xapo Bank, Seamus Rocca, suggested that the absence of conventional banking services in certain parts of South Asia has created a void that Xapo Bank aims to fill. By providing innovative financial products and services, the bank hopes to empower individuals and businesses with access to reliable and inclusive banking solutions.Rocca stated that the move “represents an opportunity to provide our hybrid banking and investment solutions to its large underserved populations, bridging an important gap in the region’s financial systems and allowing its savvy savers, investors, and professionals the freedom to explore their financial potential with a single mobile application.”Competitive interest rate offeringOne of the attractive features of Xapo Bank for customers in India is its competitive interest rates on deposits. The bank offers attractive returns, with a yearly interest rate of 4.10% on US dollar deposits and 1.00% on Bitcoin deposits. Notably, the daily interest payments on Bitcoin deposits are distributed in the smallest denomination of the cryptocurrency, a satoshi.Xapo Bank’s expansion into India aligns with the country’s projected economic growth of 6.3%, according to Fitch Ratings. Despite the worldwide economic downturn, India’s GDP demonstrated robust growth of 6.1% in the first quarter, showcasing the country’s resilience.Government policy challengesHowever, Xapo Bank will face challenges as it enters the Indian market. The world’s most populous country has implemented strict measures regarding cryptocurrencies, including a 30% tax on all cryptocurrency income and the elimination of deductibility for losses. Such regulations could potentially impact Xapo Bank’s operations and profitability in India.Authorities like the country’s central bank, the Reserve Bank of India (RBI), have been more inclined to encourage the financial services sector to adopt blockchain technology rather than offer cryptocurrencies directly. Earlier this month, American multinational financial services company JPMorgan Chase partnered with six major Indian banks in a blockchain offering that aims to improve the interbank settlement process.Nevertheless, Xapo Bank remains undeterred, recognizing the immense potential of India’s growing economy and the urgent need for accessible financial services. The bank’s expansion promises to create opportunities for individuals and businesses across the nation, contributing to India’s economic development and financial inclusion.Moreover, Xapo Bank’s entry into India reflects a broader trend of fintech innovation and the convergence of traditional banking and digital currencies. As the world becomes increasingly interconnected, financial institutions like Xapo Bank are reshaping the financial services landscape by offering forward-thinking solutions that bridge gaps, ultimately empowering individuals and fostering economic growth.

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.