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May 19, 2022 – Zurich, Switzerland


Babel Finance, a leading global crypto financial services provider, announced today that it has successfully issued the first collateralized USDC note via eNotes, a smart contract based global debt instrument, provided by blockchain start-up FQX AG on their Solana environment.

The transaction was executed using a Fireblocks custody wallet. The principal was provided by a Swiss investment firm and secured with smart contract based collateral denominated in SOL. For the delivery-versus-payment as well as for the collateral management, FQX’s decentralized escrow programs were used. The transaction was initiated using FQX’s Telegram program.
eNotes are blockchain-based debt instruments that are recognized around the globe and can be used for a broad variety of financing purposes. By providing a legal layer for decentralized financing, FQX eNotes increases legal certainty and optimizes the loan-to-value ratio in the massively over collateralized DeFi space. Via Wallet Connect’s Solana gateway to Fireblocks, Fireblocks customers will be able to sign and issue transferable debt instruments in seconds using FQX’s eNote DApp.
Richard Astle, head of Switzerland and the Middle East at Fireblocks, said,
“Digitization has been transforming traditional asset classes for over twenty years, with tokenization being the next phase of the evolution. Prolonged manual processes, limited secondary market liquidity and mostly bilateral settlements offer a number of areas in debt markets, which can be improved by blockchain and smart contracts.
“Through tokenization, investors are able to participate with smaller transaction sizes than traditional debt issuance, making it much more accessible to the broader market. We’re proud to support new innovations like FQX’s eNotes with Fireblocks’ technology so that more traditional assets can benefit from blockchain’s transparency, security and speed.”
This transaction marks the beginning of eNotes on Solana. This will help Babel Finance widen its funding sources. For traditional financial institutions that intend to invest in crypto assets, this innovative fixed-income crypto financial product is an investment channel with returns and risks.
Yulong Liu, partner of Babel Finance, said,
“We are very excited about the launch of this innovative product and very optimistic about the market prospects for crypto note and bond products using FQX’s eNotes. Babel Finance will continue to leverage our strengths in product innovation and work with our partners to expand this market.”
Benedikt Schuppli, co-CEO of FQX, said,
“With eNotes on Solana, accessible via Fireblocks, we drastically reduce the economic distance between borrowers and lenders in a cross-border setting and make financing overall radically easier.”
About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks and hedge funds to securely scale digital asset operations through the Fireblocks network and MPC-based wallet infrastructure. Fireblocks serves over 800 financial institutions, has secured the transfer of over $2 trillion in digital assets and has a unique insurance policy that covers assets in storage and transit.
For more information, visit the website.
About Babel Finance
Babel Finance is a global leading crypto financial services provider, offering institutional and HNWI investors professional services covering crypto lending and crypto trading. The company is backed by prominent investors including Sequoia Capital China, Tiger Global Management, BAI Capital, Zoo Capital, Dragonfly Capital and NGC Ventures. Babel Finance has established close cooperative relationships with major global exchanges, custodians, investment funds and mining institutions.
For more information, visit the website.
About FQX
FQX is a born-global startup headquartered in Zurich, Switzerland. FQX is building the lending infrastructure for Web 3.0. FQX employs more than 20 people in Europe and 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 tech investors – among them, six fintech ventures and Earlybird VCs.
For more information, visit the website.
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Distributed by STORM Partners on behalf of FQX. For more information, email Adrian Bono, PR and media manager of STORM Partners, or visit us on Telegram.
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Jörg Röthlisberger
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks appeared first on The Daily Hodl.


May 19, 2022 – Zurich, Switzerland Babel Finance, a leading global crypto financial services provider, announced today that it has successfully issued the first collateralized USDC note via eNotes™, a smart contract based global debt instrument, provided by blockchain start-up FQX AG on their Sol...

dailyhodl.com

Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks

The US arm of the cryptocurrency exchange, FTX, is going old school with the launch of its new stock-trading service for a limited number of users in the country. The new offering is being released through FTX Capital Markets, which happens to be a FINRA member broker-dealer.
Push for Stock Trading
According to the official announcement, the platform plans to expand its functionality to all US users over the next months. FTX Stocks will enable users to trade and invest in hundreds of US exchange-listed securities, such as common stocks and exchange-traded funds (ETFs).
At first, the new platform will route all orders via Nasdaq in a bid to provide “transparent trade execution and fair pricing.” Stock trading will be commission-free, and FTX Stocks will not receive any payment for order flow. It will also make fractional share trading available in a handful of securities. FTX US will accept payment for stock purchases in “fiat-backed stablecoins” such as USDC.
FTX’s latest expansion highlights the company’s ambition to not only attract the crypto crowd but also to capture investors in traditional finance, even if it means entering a more strictly regulated space. The main idea, as FTX US President Brett Harrison explained, is to offer every investing service under the sun for its users.
“Our goal is to offer a holistic investing service for our customers across all asset classes. With the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings through a transparent and intuitive user interface.”
Expansion
Its equities foray comes days after it was revealed that FTX CEO Sam Bankman-Fried had bought a 7.6% stake in the online trading platform Robinhood. While clarifying that he has no intentions to influence the latter’s management or strategy, the exec said he is viewing the stake as an investment.
FTX US made a formal request with the Commodities Futures Trading Commission (CFTC) to modify its existing non-intermediated model for cryptocurrency derivatives, and allow the platform to circumvent the financial companies that currently enable such trades. The authorities are currently reviewing the application.


FTX's latest expansion highlights the company's ambition to not only attract the crypto crowd but also to capture investors in traditional finance space.

cryptopotato.com

FTX US Launches Stock Trading for Select Users

Bondly Finance and Animoca Brands have recently announced Bondly Finance’s rebrand to Forj. Previously the brand has led the way in the NFT space through several innovative partnerships and today we’re speaking directly to Charles Stanton, the Chief Marketing Office at Forj to learn more about the launch, what changes we can expect and how Forj is ultimately focusing on simplifying Web3 and forging strong fan and creator partnerships. Interestingly the launch is a result of an extensive rebrand undertaken over the course of the past six months led by leading brand design exports whose clients included Disney and Coca-Cola!
Q: Can you please explain what Bondly Finance does?
A: Bondly Finance is an end-to-end Web3 and NFT solutions provider, majority-owned by Animoca Brands, working with big brands and creators across a range of projects and campaigns leveraging our technology to meet their requirements.
Q: What is the reason behind the rebranding exercise?
A: Along with Animoca Brands we are committed to onboarding the next wave of consumers into Web3, and we knew Bondly Finance wasn’t the right brand for that in the long term. It’s far too centred on DeFi and the ‘finance’ angle doesn’t have broader appeal to the majority of creators and fans out there. For example, if you’re a top record label or a major entertainment brand, you are considering how your audience will respond to a partnership with us and it’s clear they will relate far better with a dynamic, energetic and adaptive brand like Forj than with Bondly Finance.

Q: Will there be any difference in the goals of Forj, as compared to that of Bondly Finance?
Absolutely, our focus is centred around fan and creator partnerships – the very epitome of ‘forging’ is the creation of something, whether a relationship or an experience. Through our growing number of brands (such as Metaprints and PolkaPet World) and partnerships with huge platforms like Spring and Bandsintown, we’ll be bringing fans closer than ever to the creators they love. Creators like Lewis Capaldi and many more are to be announced!
Ultimately the goal is to be the leading gateway for broader audiences to experience Web3, whether through the metaverse or through ownership of an NFT that unlocks meaningful experiences.
Q: How does Forj aim to help web3 adoption?
A: We want to simplify Web3, and work with brands to unlock the potential to create incredible branded experiences in real life and in the metaverse. Adoption comes from simplification and focusing on what matters – the experience. The fact that the experience is powered by the blockchain shouldn’t matter, it’s how it can enable new and meaningful interactions between fans and creators, such as DAO governance, metaverse events, and exclusive access passes to meet the creators.
Q: What are the immediate plans for Forj?
A: We have a lot of big announcements coming, many centred around our relationship with Animoca Brands and our position in their group which is hugely exciting.
Q: What will happen to $BONDLY and how will the holders benefit from this transition?
A: The token, for now, remains unchanged and token holders should benefit from the impact of the string of announcements we have coming that will add utility to the token.
Q: Are they any new products and partnerships planned under the Forj banner? would you like to give our readers a sneak peek into it?
A: We’re working with Phantom Galaxies as their exclusive sales partner, which will be our first big exclusive announcement! We’ll also be launching a new product in the coming weeks which I’m super excited about. We also have some major new partnerships to be announced, it’s going to be a busy month…
Q: Anything else you would like to convey to our readers?
A: Only that this is just the start, Forj is a brand to meet the demands of the next wave of Web3 consumer and we’d love you to be a part of it. Check our new website www.Forj.network for more


Bondly Finance and Animoca Brands have recently announced Bondly Finance’s rebrand to Forj. Previously the brand has led the way in the NFT space through several innovative partnerships and today we’re speaking directly to Charles Stanton, the Chief Marketing Office at Forj to learn more about th...

newsbtc.com

Charles Stanton, CMO Bondly Finance on Rebranding to Forj Network

[PRESS RELEASE – Zurich, Switzerland, 19th May 2022]
Babel Finance, a leading global crypto financial services provider, announced today that it has successfully issued the first collateralised USDC note via eNotesTM, a smart contract-based global debt instrument, provided by blockchain start-up FQX AG on their Solana environment.
The transaction was executed using a Fireblocks custody wallet. The principal was provided by a Swiss investment firm and secured with smart contract-based collateral denominated in SOL. For the delivery-versus-payment as well as for the collateral management, FQX’s decentralised escrow programs were used. The transaction was initiated using FQX’s Telegram program.
eNotes are blockchain-based debt instruments that are recognized around the globe and can be used for a broad variety of financing purposes. By providing a legal layer for decentralised financing, FQX eNotesTM increases legal certainty and optimizes the loan-to-value ratio in the massively overcollateralized DeFi space. Via Wallet Connect’s Solana gateway to Fireblocks, Fireblocks customers will be able to sign and issue transferable debt instruments in seconds using FQX’s eNote dApp.
“Digitization has been transforming traditional asset classes for over twenty years, with tokenization being the next phase of the evolution,” said Richard Astle, Head of Switzerland and the Middle East at Fireblocks.
“Prolonged manual processes, limited secondary market liquidity, and mostly bilateral settlements offer a number of areas in debt markets which can be improved by blockchain and smart contracts. Through tokenization, investors are able to participate with smaller transaction sizes than traditional debt issuance, making it much more accessible to the broader market. We’re proud to support new innovations like FQX’s eNotes with Fireblocks’ technology so that more traditional assets can benefit from blockchain’s transparency, security, and speed”, Astle added.
This transaction marks the beginning of eNotes on Solana. This will help Babel Finance widen its funding sources. For traditional financial institutions that intend to invest in crypto assets, this innovative fixed-income crypto-financial product is an investment channel with returns and risks. “We are very excited about the launch of this innovative product and very optimistic about the market prospects for crypto note and bond products using FQX’s eNotes,” said Yulong Liu, Partner of Babel Finance. “Babel Finance will continue to leverage our strengths in product innovation and work with our partners to expand this market, ” Liu added.
Benedikt Schuppli Co-CEO of FQX stated: “With eNotes on Solana, accessible via Fireblocks, we drastically reduce the economic distance between borrowers and lenders in a cross-border setting and make financing overall radically easier”.
About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 800 financial institutions, has secured the transfer of over $2 trillion in digital assets and has a unique insurance policy that covers assets in storage and transit.
About Babel Finance
Babel Finance is a global leading crypto financial services provider, offering institutional and HNWI investors professional services covering crypto lending and crypto trading. The company is backed by prominent investors including Sequoia Capital China, Tiger Global Management, BAI Capital, Zoo Capital, Dragonfly Capital, and NGC Ventures. Babel Finance has established close cooperative relationships with major global exchanges, custodians, investment funds, and mining institutions.
About FQX
FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building the lending infrastructure for Web 3.0. 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 Tech investors, among them SIX Fintech Ventures & Earlybird VC.


[PRESS RELEASE &#8211; Zurich, Switzerland, 19th May 2022] Babel Finance, a leading global crypto financial services provider, announced today that it has successfully issued the first collateralised USDC note via eNotesTM, a smart contract-based global debt instrument, provided by blockchain sta...

Babel Finance Used Collateralized eNote on FQX’s Solana dApp via Fireblocks

The Cambridge Center for Alternative Finance, a financial research institute affiliated with Cambridge University, has found that the Bitcoin hashrate was up by 4% in August from the previous year, from 35% to 39%. But, still, the mining stocks have seen declines in the last month, with Bitcoin prices going down. The concluded figure involves BTC.com, Via BTC, and Pooling data.
Cryptocurrency mining involves verifying and broadcasting the transactions on the relative blockchain ledger. It is a computationally-intensive process that opens doors for validators (who validate transactions) to earn rewards. Validators verify the transaction by guessing a unique hash number associated with each transaction. And it requires computing power more than simple PCs.
Related Reading | New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate
Similarly, it needs a more powerful computer when verifying transactions on the Bitcoin network. Because the Bitcoin algorithm creates difficulty when too many validators come online simultaneously.
Mining Bitcoin through a home computer was feasible a decade ago. However, considering the problems that arose with the growth of BTC mining, U.S. public companies such as Marathon Digital Holdings, Riot Blockchain, and Core Scientific owned server forms have made this type of work more accessible.
 Bitcoin is currently trading below $29,000 | Source: BTC/USD price chart from Tradingview.com
Mining Stocks Dropped Nearly 50%
The most recent bloodbath in the crypto market, which has seen the collapse of TerraUSD and the price dips of many cryptocurrencies, also caused a slump in the price of the shares of these mining companies.
Since April 18, mining stocks of Core Scientific and Marathon have nearly lost 47% of their value. Likewise, Riot’s shares are reduced by its one-half, and Canadian-based Hut 8 Mining Corp has similarly diminished by 41% of the value of its shares.
A few crypto traders point out that seeing the last month’s decline of 25% in Bitcoin price and the increasing correlation of crypto with the stock market, investors would now be cautious about cryptocurrency investment.
The level of correlation between crypto and stocks has lasted between 0.67 to 0.78, with the BTC falling 10% on the day of peak correlation. Here 0 refers to no relationship, and 1 implies being completely correlated.
Richard Craib, chief of the San-Francisco-based hedge fund Numerai, stated that digital assets are now “part of the mainstream financial system, and that’s not good for its viability as an alternative asset class. It’s not serving its original purpose as an uncorrelated asset.” 
Related Reading | Bitcoin Bearish Signal: Whales Ramp Up Dumping
Analysts say that some traditional investors have ended up their crypto trading. The plummet of tech stocks has become the reason behind the exit of many investors. So they are selling their virtual assets to raise funds. 
In addition, the raised concerns about the environmental impacts of mining could also play their role in dropping stock prices. As of now, 160 crypto mining bills are waiting for the consideration of the government authorities in over 30 states.
Featured image from Pixabay and chart from TradingView.com


The Cambridge Center for Alternative Finance, a financial research institute affiliated with Cambridge University, has found that the Bitcoin hashrate was up by 4% in August from the previous year, from 35% to 39%. But, still, the mining stocks have seen declines in the last month, with Bitcoin p...

Convex Finance price	$10.33
Low - High 24H	$9.96 - $11.21
Market cap	$638.26M
Volume 24H	$34.48M
All time high	$60.09 -82.82% January 1st 2022
All time low	$1.90 442.57% July 20th 2021
Genesis date	N/A

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