Matrixport forecasts SEC bitcoin ETF rejection

Singapore-based payments provider Alchemy Pay has secured $10 million in investment from market maker DWF Labs at a valuation of $400 million, as the company looks to expand its business in South Korea.©Pexels/Ivan Samkov Korean expansionTaking to Twitter, Alchemy Pay stated that it “will continue to enhance [its] global market presence by bringing forward [its] payment solutions and services to the Korean market, providing an easy onboard from fiat to cryptocurrencies for more Korean companies.” It’s understood that the high level of acceptance of digital assets in Korea is attractive to Alchemy as something it can capitalize on.Alchemy’s Ecosystem Lead, Robert McCracken, stated in a Medium blog article that while this investment was pursued relative to a specific and strategic decision to enter the Korean market, the company is otherwise well funded. DWF funding spreeDWF Labs’ investment of $10 million in Alchemy Pay marks its eighth investment or funding round of at least $10 million into Web3 and crypto projects in the past six weeks, with a combined total of $165 million.According to DWF’s managing partner Andrei Grachev, the current bearish market is an opportune time to enter the investment space. Grachev stated to CoinDesk that the company has accumulated enough profits to invest in projects at present.With offices in Singapore, Switzerland, Hong Kong, the United Arab Emirates, South Korea and the British Virgin Islands (BVI), DWF Labs fits the role of a global multi-stage Web3 investment firm. It collaborates and partners with portfolio companies with regard to activities such as market making, token listing and Over The Counter (OTC) trading solutions. $ACH boostAlchemy Pay’s native token, $ACH, has a market capitalization of around $188 million. Buoyed by today’s announcement, the token was trading at $0.03885 at the time of publication. That’s a surge in value in dollar terms of around 16%, although it’s still quite a ways off its all time high of $0.18468, achieved on August 6, 2021, at the height of the last crypto bull run.In a press release published on Monday, Alchemy Pay described itself as “a payment gateway that seamlessly connects crypto and global fiat currencies for businesses, developers, and users.”Founded in 2018, the company has previously collaborated with Visa, Mastercard, Google Pay, and Apple Pay for this purpose. Cryptocurrency and derivatives exchange OKX recently integrated Alchemy Pay into its platform, in order to simplify the process of purchasing cryptocurrency using local currencies for its customers. NFT CheckoutApart from its payment services, Alchemy Pay has also launched its innovative NFT Checkout service. The service allows customers to purchase NFTs using fiat payment options, making it as easy as any other standard online payment method. This function enables users to acquire NFTs with their local domestic currencies, providing a seamless purchasing experience.The platform offers over 300 local alternative payment channels, enabling it to extend its reach beyond traditional credit cards into local mobile wallet options. The footprint of the business now extends across Northern and Latin America, Europe and Southeast Asia.

The Philippines' central bank has confirmed it has no plans to issue a retail version of a central bank digital currency (CBDC) but that it has definite plans to introduce a wholesale-level CBDC, albeit without using blockchain as the underlying technology. Avoiding retail-level bank run riskThe bank expressed concerns that a retail CBDC could potentially trigger bank runs, given the velocity at which digital currency can be transacted. However, in an interview with local media outlet, the Inquirer, the central bank governor Eli Remolona clarified that within the next two years, the country has definite plans to roll out a wholesale CBDC. CBDCs come in retail and wholesale forms, with the former accessible to the general public and the latter exclusively for institutional use. While the Philippines central bank initiated an exploratory study previously relative to CBDC use, concerns have been raised by the Bank for International Settlements (BIS) about the readiness of institutions to handle the risks associated with CBDCs.Photo by Krisia on PexelsDismissing blockchainDespite this move, the bank does not intend to utilize blockchain or digital ledger technology, which are fundamental to many virtual assets. Remolona stated: "Other central banks have tried blockchain, but it didn’t go well." Instead, the CBDC will operate on a payment and settlement system owned by the central bank, with a focus on wholesale transactions mediated by banks. This marks a shift in the central bank's approach to underlying technology where a CBDC is concerned. The Bangko Sentral ng Pilipinas (BSP) initially embarked on an exploratory study regarding CBDCs in 2022, known as Project CBDCPh. Upon completion of that study, it followed up with a pilot project called Project Agila, concentrating on a wholesale CBDC. Project Agila leaned on the use of the Hyperledger Fabric blockchain, considering it for use on the first wholesale CBDC.  Hyperledger Fabric is an open-source blockchain framework hosted by the Linux Foundation. Companies like IBM, SAP and Intel have all contributed to the development of the enterprise-grade permissioned blockchain network. However, it appears that the BSP is shying away from using any type of blockchain-based solution in establishing its CBDC. Regional steps towards CBDC useThe central bank of the Philippines is among several in the Asia-Pacific (APAC) region that are working towards the introduction of a CBDC. Earlier this month an official from the Reserve Bank of India (RBI) outlined that the central bank will move forward with CBDC development while working towards addressing privacy concerns that citizens may have with a digital rupee. Towards the end of last month, the Japanese government, in collaboration with the Bank of Japan, appeared to be gearing up for the rollout of a CBDC. In a recent meeting between both parties, several legislative matters were identified as key to ensuring a smooth path to the unobstructed launch of a digital currency. There has also been a lot of activity relative to attempts to utilize CBDCs for cross-border trade over the course of the past year. In the United Arab Emirates (UAE), the country announced the first-ever use of its CBDC or digital dirham in a trade deal with China using mBridge, a multi-CBDC platform that supports peer-to-peer, cross-border payments in real time.

Wemade’s NILE Launches Ticket NFT Sales for Blockchain-Assisted Golf TournamentNFT Is Life Evolution, better known as NILE, commenced the sale of ticket NFTs for the WEMIX Championship 2023, a women’s golf tournament in South Korea, on the NILE Marketplace at noon (local time) on October 18. NILE is a decentralized autonomous organization (DAO) and NFT platform, which operates on the WEMIX3.0 mainnet of South Korean blockchain game developer Wemade.Photo by Robert Ruggiero on UnsplashWEMIX Championship 2023The WEMIX Championship 2023, touted as the world’s first blockchain-assisted golf tournament, will take place from November 18 to 19 at Haeundae Beach Golf and Resort in Busan. The sports event will see participation from 24 players who are members of the Korea Ladies Professional Golf Association (KLPGA), including the top 20 athletes with the most WEMIX points, as they vie for victory in the season-ending competition.Ticket NFTs for perksThe competition is leveraging blockchain technology across all its operations. Specifically, NILE is introducing Real World Event NFTs, which consist of two main types: “ticket NFTs,” which serve as admission tickets and vouchers, and “prize NFTs,” which are awarded to the competition’s winners.Ticket NFTs are dynamic NFTs that provide a range of benefits depending on the selected tier. These benefits encompass souvenirs, food vouchers, and access to VIP-reserved facilities. There are two tiers to choose from: GROUND and NILE Suite. Golf enthusiasts can purchase these NFTs using WEMIX dollars (WEMIX$) through either the WEMIX Wallet or the una Wallet.In addition, ticket NFT holders can verify their NFTs on the decentralized communication platform, PAPYRUS, to join a special channel dedicated to the WEMIX Championship 2023, where spectators can stay informed about the latest competition news and engage in real-time interactions with one another.Looking ahead, Wemade plans to introduce additional sports events that utilize blockchain technology, aiming to provide fresh and engaging experiences while fostering a culture where both athletes and fans can fully enjoy sports competitions.