India’s SEBI head wants instant settlement to counter crypto threat

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.

SynFutures, the Singapore-headquartered decentralized derivatives exchange specializing in crypto perpetual futures trading, has taken its V3 from public testnet through to mainnet launch on the Blast layer two network. Bringing permissionless perps to BlastTaking to Medium on March 1, the company outlined that “we’ve officially brought permissionless perps to Blast.” With the launch, the project is demonstrating iterative progression. Back in October of last year, the company outlined that it had launched V3 on public testnet, while also announcing details of a $22 million Series B funding round at that time. SynFutures' decision to roll out V3 on the Blast mainnet aligns with the layer two network's rapid ascent in the crypto space. Blast itself launched on Feb. 29 and in the process the network unlocked around $2.3 billion in staked crypto which had remained locked up until that point. The optimistic rollup-based network allows transactions to be executed off-chain, all the while leveraging the security provided by the Ethereum blockchain network. Blast has managed to garner significant value on-chain due to the 5% annual yield it offers users on ether and stablecoins that network participants accrue from staked ETH.Photo by Alina Grubnyak on UnsplashPoints rewards programAlongside the V3 launch, SynFutures has introduced a points rewards program, christened Oyster Odyssey. This initiative aims to incentivize user engagement on the platform, with V3 users set to qualify for the upcoming Blast airdrop as well. "Interacting with SynFutures can qualify users for Oyster Odyssey points as well as Blast points," Rachel Lin, co-founder and CEO of SynFutures, disclosed to The Block. Lin added:"We're also committed to giving 100% of our Blast developer airdrop back to users, so they'll enjoy plenty of benefits." Gearing up for native token launchIt also appears that SynFutures is gearing up for the launch of its native token. In its blog post, the firm suggested that it was pleased to reveal that it is “exploring the path to a token.” The company promises that launch details and an associated timeline will be disclosed in the not-too-distant future. Following V3 public testnet launch last year, the project explored various blockchain options, including Polygon and zkSync Era, before ultimately settling on Blast. While the team remains committed to a multi-chain expansion for V3, with future deployments under consideration, Lin has suggested that the immediate focus lies in driving adoption and volume on Blast. While V2 of the platform still operates on the Polygon proof-of-stake chain, support for it is gradually phasing out as SynFutures prioritizes the V3 rollout. Meanwhile, V1 has already been phased out, with both iterations collectively processing over $23 billion in cumulative trading volume to date. SynFutures' journey thus far has been supported by substantial funding, with approximately $38 million raised to date. Notable backers include Pantera Capital, HashKey Capital and SIG DT Investments, a unit of the Susquehanna International Group, among others.  

Korbit Joins Hands with Shinhan Card and Good Neighbors for NFT CampaignKorean crypto exchange Korbit said Thursday that it is participating in the Cambodia Youth Independent Tuk-tuk Transportation IG Group organized by the Good Neighbors Global Impact Foundation to help create jobs and support economic stability for youths in Kampot, southern Cambodia. To do so, the exchange has launched a campaign with Korean credit card company Shinhan Card and the Good Neighbors Global Impact Foundation to issue environmental, social, and governance (ESG) donation certificates minted as non-fungible tokens (NFTs).Photo by Markus Winkler on UnsplashTuk-tuks, or auto rickshaws, are the main mode of transportation in Cambodia, offering a larger job market for youths who are looking to become financially independent. Yoo Tae-hyun, Head of the Platform Business Group at Shinhan Card, expressed his hopes that the campaign will empower the youths and help them become more independent.Campaign participationShinhan cardholders who wish to participate in the campaign can select “Tuk Tuk Donation Certificate NFT Campaign” found under the Areumin section in Shinhan’s app service Shinhan pLay. They can then make a donation with their card or card points and apply for an NFT. Korbit said that it would airdrop all NFTs to donors at the end of the campaign in December, which can be verified on Korbit’s NFT marketplace and Shinhan pLay app’s MyNFT service. The images minted on the donation NFTs, which depict Cambodian youths on tuk tuks, are a contribution from Park Hye-geun, an artist who has worked on children’s books, educational materials, and more.Notably, during a memorandum of understanding (MOU) signing ceremony last Monday, the three entities opted for an NFT certificate confirming their partnership instead of directly signing a document as a means to further implement NFTs into their collaboration.Boosting ESG efforts“We are pleased to contribute to creating a trend of making donations through NFTs and will continue to uphold our ESG management to have a positive impact on society,” said Oh Se-jin, CEO of Korbit. Meanwhile, Hyun Jin-young, CEO of the Good Neighbors Global Impact Foundation, applauded Korbit’s efforts to promote a culture of donation and address global social issues through the use of NFTs. He also stated that he looks forward to various technological collaborations with Korbit in the future.Korbit has previously worked with Shinhan Card on various cultural and artistic ESG activities, such as hosting an art fair in April in Seoul, where some 200 artists showcased their artworks.