Fingerlabs launches Web3 solution to help partners build membership NFTs

Avalanche Blockchain Developer Expands into IndiaAva Labs, the company behind the layer one Avalanche blockchain, is setting its sights on a significant expansion in India.Seeking out state agency partnershipsThe move by the New York-based blockchain development firm reflects the growing interest in blockchain technology within the world’s most populous country. Ava Labs outlined that it is actively seeking partnerships with Indian government agencies and institutions to facilitate the development of applications on the Avalanche (AVA) blockchain, according to a blog post published by the firm on Thursday.While government and state agencies have not been terribly progressive when it comes to decentralized cryptocurrencies in India, they have been more receptive in terms of developing the underlying blockchain technology.Earlier this year, the Royal Bank of India (RBI) highlighted the importance of adopting blockchain technology. Last month, an RBI-led initiative emerged through India’s National Payments Corporation of India (NPCI) to further explore blockchain technology relative to payment systems.Indian government’s initiatives, such as launching a Centre of Excellence in Blockchain Technology, align with Ava Labs’ expansion strategy. Moreover, Indian states like Goa and Telangana have demonstrated a proactive approach to leveraging blockchain for real-world use cases, including land records and vehicle registrations.Photo by Studio Art Smile on PexelsRecruiting local talentAs part of its plans, Ava Labs has made a few pivotal hires to lead its operations and business development in India. Devika Mittal, formerly the Head of Token Listings for OK Group company Okcoin, and Kamakshi Arjun, who has held leadership positions at Polygon (MATIC) India and Tech Mahindra, have joined the team. Both individuals bring extensive experience in the blockchain industry to their new roles.Mittal expressed her excitement about the opportunity, stating:“I am so excited to help Ava Labs expand its reach and impact in the region, and am confident that Ava Labs is well-positioned to meet the demands of India’s large and growing population of tech-savvy individuals and businesses.”Equally Arjun, with her understanding of the blockchain market, is expected to play a critical role in Ava Labs’ expansion strategy.Business development fundMittal said in an interview with The Block that Ava’s operations in India would focus on several sectors, including ticketing, certification, and supply chains. She also highlighted the innovative features of Avalanche subnets. Notably, Ava Labs has a specific business development fund earmarked for India.There’s a lot of activity within India’s blockchain ecosystem, with projects like Loco, an esports and live-streaming platform, leading the way. Loco is developing a range of Web3 products and pioneering innovative fan experiences using a custom Avalanche Subnet.While Polygon Labs, the founder of Ethereum scaling network Polygon, operates on a fully remote basis, its origins can be traced back to India through its founders. One community member responded to this latest news, stating that the Avalanche development team has a lot of ground to make up by comparison with the progress recorded by Polygon in India in terms of partnerships and business development.Ava Labs is actively engaging with various prominent institutions and has already secured a partnership with a government agency, although specific details have not been disclosed.

Triple-A Secures Series A Funding to Advance Crypto PaymentsTriple-A, the Singaporean digital currency payments firm founded by Eric Barbier, has announced the successful closure of its $10 million Series A funding round.Photo by Towfiqu barbhuiya on Unsplash$10 million raiseIn a statement on its website on Wednesday, the firm outlined that the raise had been led by Peak XV Partners (formerly known as Sequoia India & South East Asia), who had previously invested in the company. In addition, the round received support from Abu Dhabi-based venture firm Shorooq Partners, alongside other undisclosed repeat backers.The company offers white-label solutions for businesses, facilitating the seamless integration of cryptocurrency payments with quick conversion to fiat money in their bank accounts within just one day. Triple-A currently supports various cryptocurrencies, including Bitcoin, Ether, Tether, and USD Coin.According to Barbier, stablecoins are a game-changer in payments, as they enable real-time settlements, in contrast to traditional payment methods like SWIFT transfers, which may take several days to clear. He stated: “With stablecoins, individuals and businesses worldwide, even in emerging countries, can now easily own and use a USD-denominated currency.”Barbier is known for his earlier success in founding the cross-border payments platform Thunes. The idea for Triple-A was born while Barbier was working at Thunes and recognized the potential of cryptocurrencies in resolving chargeback fraud issues.Barbier saw cryptocurrencies as a more efficient payment method for businesses engaged in cross-border transactions. He explained:“Cryptocurrency payments not only shield businesses from chargeback fraud risks but also help to streamline B2B cross-border payments. With instant settlements and no middlemen required, I realized we could solve many pressing issues in the payments industry today.”Expanding operations globallyThis funding round follows Triple-A’s $4 million seed round, bringing the total funds raised to date to $14 million. The new capital injection will be directed towards expanding Triple-A’s operations in key regions, including the Middle East, North America, and South America.Moreover, the company plans to enhance its cryptocurrency solutions and offerings in its crypto payments and payout products. Currently headquartered in Singapore, Triple-A boasts a global presence with offices in Miami, Hong Kong, Paris, and Barcelona, supported by a team of over 70 professionals.Regulatory compliant pathTriple-A is trying to differentiate itself through adherence to regulation. The company holds licenses that permit it to operate globally, including one from the Monetary Authority of Singapore (MAS) as a payments institution and a payments institution license from the central bank of France, allowing it to execute payment transactions across all EU member states.The company is registered with the United States Financial Crimes Enforcement Network (FinCEN) and is actively looking to expand its regulatory footprint. In line with the regulatory path the business is treading, Triple-A’s target clientele primarily consists of enterprises that value compliance, regulation, and licensing and seek to engage in cryptocurrency payments without the associated risks and complexities.Triple-A has already gained traction, serving more than 20,000 businesses, including prominent names such as iStudio, Farfetch, Charles and Keith, Singapore Red Cross, Razer, and Reap, along with other large enterprises. In July, it partnered with universal payments platform Optty to enable crypto payments. The onboarding process is swift, with Triple-A completing the Know Your Customer (KYC) procedure and onboarding within one to two business days. The integration methods offered include API and no-code integration.

Coinbase Effects International Expansion By Extending Singapore OfferingIn further proof of Coinbase’s recently-adopted strategy of focusing on global expansion, the company has just extended the range of its product offering to Singaporean customers.Photo by Meriç Dağlı on UnsplashNo Fees on USDCThe move was announced by way of a blog post published to the company’s website on Tuesday. The expansion entails the introduction of fee-less purchases of the USDC stablecoin for users who buy it with the Singaporean dollar (SGD). Furthermore, it is enabling Singaporean customers to earn rewards on the USDC that they hold on the platform. USDC trading pairs are being added that will allow users to trade USDC directly with over two hundred digital assets.Taking staking overseasAdditionally, Coinbase Global is rolling out staking to the Singaporean market. Users will be empowered with the ability to stake the following digital assets: ETH, SOL, ADA, ATOM, and XTZ.It’s interesting that Coinbase feels enabled in rolling out a digital asset staking service in this overseas market. In March of this year, the company received a Wells Notice — a formal notice informing the recipient that there are firm plans to bring enforcement actions against it — from the Securities and Exchange Commission (SEC) in the United States. The notice was sent in relation to digital assets covered under Coinbase’s staking product offering, Coinbase Earn.In highlighting the issue, the company bemoaned the fact that the SEC had gone down the route of issuing a Wells Notice without it expressing a single specific concern about any specific digital asset offered by the platform in advance of taking the action.Global strategyCoinbase Founder and CEO Brian Armstrong has been outspoken in criticizing the regulatory approach to crypto in the United States. He expressed that at the time of having received the Wells Notice earlier this year, and again last week, when he and key Coinbase executives visited Abu Dhabi and Dubai in the United Arab Emirates.On the day of SEC Chair Gary Gensler’s appearance before the House Financial Services Committee on Capitol Hill in Washington, D.C. a few weeks ago, Armstrong signaled that unless there was a more accommodating regulatory approach taken to crypto in the US, Coinbase would increasingly be looking to expand operations overseas.A short time later, it emerged that the company had obtained a license to trade in Bermuda. At last week’s Dubai Fintech Summit, Armstrong applauded the regulatory approach taken by the UAE and indicated that the company is interested in opening a base in Abu Dhabi.Positive survey resultsAgainst this background, it’s not surprising to hear that Coinbase has expanded its service offering in Singapore, another aspiring global hub for crypto business. As part of reviewing and updating its business offering in the city state, Coinbase carried out a survey of prospective customers in Singapore. It found that 25% of Singaporeans consider crypto as the future of finance, on a par with findings in the US, and higher than the 17% reported in the UK.Among its other findings, security concerns and price volatility of digital assets are still a barrier to entry for many. Of those who are already crypto-native, they tend to trade higher trade amounts, and with greater frequency, if from higher income backgrounds.