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Amber Group Executes World’s First Crypto Borrow Transaction on CLST Markets in the Form of an eNote by FQX AG

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AMBER

Zurich (CH), 17 February 2022 CLST Markets, an institutional-only lending and borrowing venue for stablecoins and crypto assets, has successfully facilitated an uncollateralized multi-million USDC stablecoin loan executed by Amber Group for the first time today. The fixed-term transaction was executed in the form of the first electronic promissory note for a stablecoin issued on the Algorand Blockchain.

CLSTSwiss-based FinTech company CLST led the successful transaction between Amber Group and an undisclosed counterparty. The underlying asset, a USDC stablecoin issued on the Algorand Blockchain (commonly referred to USDCa), was settled Peer-to-Peer and is based on an electronic promissory note (eNote), a technology provided by FQX which is seamlessly integrated into CLST. The multi-million USDC stablecoin loan was borrowed by Amber Group at a Fixed Term and with a contract duration of less than a year.

An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excel through their modularity and global transferability, based on a standardized legal framework. Single eNotesTM are stored as NFTs on a blockchain. By issuing multiple eNotesTM, an issuer can obtain financing in a way comparable to commercial papers.     

The uncollateralized transaction marks a significant milestone in institutional crypto asset lending by solving the problem of over-collateralization. Borrowers are routinely forced to pledge an amount of collateral that exceeds the value of the loan to mitigate the risk of cryptocurrency price fluctuations. This impediment is holding back the development of borrowing and lending in the crypto asset industry.

Overcoming this obstacle, whilst keeping risk at manageable levels, will finally allow institutions to unlock the full potential of a maturing short-term debt market as TradFi and DeFi converge.

Counterparty risk is mitigated by the innovative use of electronic promissory notes, a tried and tested method of providing lenders with a globally enforceable legal provision in the event of loan defaults.

Lack of institutional-grade infrastructure in lending and borrowing

“Currently, the institutional short-term debt market for stablecoins and crypto assets is heavily underserved due to a lack of large-scale lending and borrowing infrastructure that reduces counterparty and DeFi protocol risks. We are doubling down on the vision to connect every institution, from market makers, to treasuries, foundations, family offices or hedge funds, through a single communications venue,” says Michael Guzik, Founder and CEO of CLST.

“As a leading digital asset platform, Amber Group helps its clients to access liquidity, earn yield, and manage risk across crypto assets. As an institution with a global footprint, access to broad networks of lenders and borrowers, are therefore essential to Amber’s trading activities and liquidity management. Michael and the team behind CLST will make uncollateralized lending and borrowing more efficient through the aggregation of deal flow and we are excited to be part of this global network at the very beginning of a new future for crypto assets in the market,” says Francesco Adiliberti, Managing Director for Europe at Amber Group.

About CLST

CLST is the institutional communications venue to lend or borrow stablecoins and crypto assets, automating multi-dealer price negotiation and price matching for institutional traders. CLST Markets integrates next generation products such as “Request-for Quote” (RFQ), “Fixed Term”, “Call Money”, institutional DeFi protocols, blockchain-based electronic promissory notes and wallet connectivity for automated settlements. CLST aims to resolve market uncertainties and scaling issues in uncollateralized and collateralized lending and borrowing of stablecoins and crypto assets. For more information, please visit www.clst.com

*Disclaimer: CLST borrowing and lending capabilities and products of stablecoins and crypto assets are not yet available in the United States.

About Amber Group

Amber Group is a leading digital asset platform operating globally with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber is backed by prominent investors including Sequoia Capital, Tiger Global Management, Paradigm, and Coinbase Ventures. For more information, please visit www.ambergroup.io

About FQX

FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building the global debt infrastructure for the future of finance using blockchain technology. FQX employs more than 20 people in Europe & Asia. FQX has garnered attention in 2021 by winning the Swiss Fintech and the Fintech Germany Awards in its respective categories. FQX is backed by notable Fintech investors, among them SIX Fintech Ventures & Earlybird VC.

For more information, please visit enotes.tech

Media Contact

Stella Wang

pr@ambergroup.io

Alex von Mühlenen
alex.vm@clst.com

Jörg Röthlisberger
info@glt-communications.ch

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ND Labs Launches Crypto Exchange Software Development

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ND Labs

ND Labs, an international blockchain consulting and development company with offices in Poland and the United States, has recently announced the launch of crypto exchange development services.

ND LabsND Labs understands that cryptocurrencies are gaining even more popularity and predict their mass adoption in the future. Thus, the company offers full-cycle development services to IT businesses and non-IT enterprises from various industries, including retail, construction, oil & gas, etc.

Dmitry Khanevich, co-founder and CEO of ND Labs, commented on the news:

“Launching a crypto exchange is a good business idea. First, there is a growing demand for such platforms as digital currencies are becoming more widely used. Second, they can generate constant profit by charging fees for each transaction. Third, they are relatively easy to set up and maintain. Finally, they offer lots of flexibility, which makes them ideal for businesses of all sizes. If you lack the necessary skills or knowledge to build a crypto exchange, that’s where our blockchain expertise will be helpful.”

What is a crypto exchange?

A crypto exchange is a trading platform that allows users to buy and sell digital assets in a peer-to-peer manner, which means there is no third party involved. For instance, users can buy cryptocurrencies for fiat money and then trade them.

How to develop a crypto exchange platform?

    • Choose the platform type. It can be a crypto trading app as well as a centralized, decentralized, or hybrid cryptocurrency exchange.
    • Build key features. They include user authorization and verification, a trading engine, a crypto wallet, an intuitive user interface, and market and liquidity provider integration.
    • Add nice-to-have and advanced features. They are manageable user profiles, portfolio tracking, push notifications, loyalty programs, a knowledge base, data analytics, NFT trading abilities, automated strategies, etc.
    • Meet regulatory compliance. Depending on the jurisdiction you are going to work in, you will have to comply with GDPR, KYC, KYT, AML, and other requirements.
  • Develop a crypto exchange platform.

About ND Labs

ND Labs is an international company that offers blockchain consulting and development services. They build blockchain-powered solutions for businesses of all sizes from various industries, such as logistics, real estate, insurance, etc. The company’s team consists of experienced blockchain professionals who focus on strategic outcomes and help clients generate long-term profits. 

Contact

For more details and updates, visit:

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Get Lucky Tickets for World Cup Bets on 1xBit

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World Cup Bets

The long-awaited World Cup 2022 is here, bringing many opportunities to win big. Are you excited about seeing your favorite players on the pitch? Then the World Cup is an opportunity not just to do that but also to win big from your passion. 

Participating in 1xBit’s Ticket Rush is all you need to have a fun World Cup experience. This tournament offers you the avenue to stay on top of the game, enjoying fascinating matches and securing impressive prizes.

1xBit1xBit has created Ticket Rush with numerous fanciful prizes that could change your entire gambling experience. With multiple prize draws designed to select many winners, you have a chance at winning big. The prize pool is 3 BTC, with numerous winners per category. 

To participate in the offer, you must log in or register on 1xBit. Proceed to the offer page, click “Take part,” and bet on World Cup 2022!

Participants collect tickets for bets on World Cup 2022 matches. There are three ticket categories:

  • Individual match tickets – for bets on any World Cup matches 
  • Supporter tickets – for bets on the picked 8 countries during the group stage 
  • Play-off tickets – for bets on play-off matches 

For the Individual match tickets prizes, the 1st place winner will emerge with 500 mBTC. The first-place winner in the Supporters’ tickets prize draw goes home with 10 mBTC, while the first-place winner in the Play-off tickets prize draw will win 250 mBTC. 

1xBit: Your Best Bet

Ticket Rush is one of the many tournaments designed by 1xBit to help players profit from their passion while enjoying the World Cup. With 1xBit, you can rest assured about sumptuous prizes that make your gambling experience worthwhile.

As the fastest and leading crypto sportsbook, 1xBit is passionate about rewarding players’ efforts in an exciting fashion. The platform provides its users with numerous benefits to maximize the crypto gambling space. 

You can make bets on 1xBit using over 40 supported cryptocurrencies. This crypto adoption eliminates the need for fiat currency. It removes the stress of first converting your cryptocurrency to fiat before depositing it in a sportsbook to bet on your favorite games. 

Instead, you can utilize these currencies directly, allowing you to maximize their value without losing any of it to conversion fees. Even more, 1xBit is constantly looking for relevant partnerships and new coins to add. 

You also enjoy instant payouts with zero fees. This allows you to enjoy your winnings without adversely affecting the platform’s fee structure. 1xBit also provides educational blogs on crypto gambling to help you get started with the necessary tips to navigate the field. Whether a beginner or a veteran, 1xBit covers all you require.

Additionally, 1xBit offers users a Welcome Bonus of up to 7 BTC following their first 4 deposits – it gives you the required jumpstart to experience the platform and play your favorite games. 

Final Thoughts

All roads lead to Qatar for the 2022 World Cup, and you don’t want to miss out on any match. With the Ticket Rush tournament, you can spice up your experience and win crypto!

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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Crypto Lists Announce Bitcoin Maximalist as Head of Content

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Bitcoin Maximalist Tom White

CryptoLists.com is delighted to announce the arrival of the new Head of Content, Tom White.

Tom is now a key member of the speedily growing crypto info site, with ambitions to take the content up a level and define and refine the tone of voice. A keen follower of crypto and Bitcoin, in particular on a personal level, he’s well acquainted with blockchain and DeFi technology and has been investing in digital assets for some time.

In other news, Crypto Lists are also pleased to announce an updated mission statement and a new slogan: Crypto Done Smarter

As a native English speaker, Tom is well-positioned to take over the tone of voice and editorial oversight of the website, which was founded by two Scandinavians. Alongside this, Tom’s main focus will be to ensure that fresh and informative news articles are released even more frequently, and reviews of new coins and brokers are published swiftly.

Tom White – A Bitcoin Maximalist?

While open to the potential of various altcoins, as somewhat of a Bitcoin Maximalist, Tom sees Bitcoin as digital gold of the new economy. A keen chart-watcher, he’s excited about the next halving event in 2024 and seeing how high BTC can go during the next bull run. A bull run where he believes incredible new ATHs will be reached. A full review of Bitcoin with breaking news, FAQ, historical background, and the most recent updates can be found at https://www.cryptolists.com/coins/btc/

Things Tom will oversee

During his first week at the company, Tom has covered subjects surrounding changes within the traditional banking sector in regard to crypto, as well as a multitude of other topics. Being such a big advocate of Bitcoin and its potentially revolutionary capabilities, a topic he found especially interesting is how to survive on Bitcoin. He recently published a piece about Arnhem, a Dutch town that some call the world’s only Bitcoin city. Alongside such specific topics, he will be making sure that the Crypto Lists brand voice is consistent across both the website and all externally facing written comms.  

Upcoming events in Africa

Tom will also write articles and releases about recent and upcoming Bitcoin and crypto events. In the near term, one such event is the Ghana DeFi Summit 2022.

Crypto Lists – Crypto Done Smarter

cryptolistsTom also brought his creative mind to the forefront when brainstorming the new brand mission alongside the wider team. Crypto Lists had been searching for a new slogan, that is both accurate, descriptive, as well as evergreen – taking into consideration the future developments and growth of the company. Along with the senior leadership, a general consensus was reached: Crypto Done Smarter.

Why smarter? Well, Crypto Lists is there to help people make more informed decisions. The entire ecosystem of the site revolves around educating people on the crypto space, and the coins, platforms, brokers, exchanges and at the same time doing reviews of blockchains that compose it. In a nutshell, Crypto Lists is a site where you learn to make smarter decisions in the crypto space.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to any company, product, or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product, or service mentioned in this post. 

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