• Injective, a blockchain-based DeFi platform, has announced the first ever Solana rollup launch for Cosmos, powered by Eclipse.
• This integration will bring the Solana development environment to the Cosmos ecosystem, increasing user adoption and growth.
• The new SVM rollup will enable Solana smart contracts to be deployed within the Cosmos universe and provide users with access to popular Solana dApps.
Injective Launches First-Ever Solana Rollup for Cosmos
Injective, the blockchain built for decentralized finance applications, today announced the first-ever Solana rollup launch for Cosmos, powered by Eclipse. The integration will bring the Solana development environment to the broader Cosmos ecosystem, further increasing growth and user adoption within the two ecosystems.
Solana Sealevel Virtual Machine (SVM) Introduced to Cosmos Ecosystem
Eclipse, a customizable rollup provider, worked alongside Injective to deploy the first-ever Solana Sealevel Virtual Machine (SVM) within the Cosmos ecosystem. Injective’s recent integration with Wormhole made it the first chain in the Cosmos ecosystem to support Solana assets.
Access Popular DApps from Both Ecosystems
Now its new SVM rollup will enable Solana smart contracts to be seamlessly deployed within the Cosmos universe, paving the path towards Solana applications to interact directly with IBC. Developers who are familiar with Solana tooling and language can now easily write and deploy their applications to the Cosmos ecosystem through Eclipse without needing to learn new programming languages or tooling.
Increased Web3 Adoption Across Two Ecosystems
Despite the current market environment, Solana development remains resilient with activity up over 1000% year to date according to Alchemy. This new integration will not only attract a new audience to the Solana ecosystem, but will also enable Cosmos users to utilize popular Solana dApps, resulting in increased Web3 adoption overall across both ecosystems.
Continued Evolution of SVM Rollup
Moving forward,the new SVM rollup will continue evolveto reach even higher levels of security and scalability.The current plan is over time integrateCosmos’s upcoming interchain shared security model ensure greater levels of sustainability withinCosmos.In addition data availability layer forrollupplans migrate onto Celestia mainnet which would expand scalability properties. p >
• Banxa Holdings Inc. and BitMart have partnered to provide users with a seamless fiat-to-crypto on-and-off ramping experience in rapidly growing markets such as Asia-Pacific and Latin America.
• The integration will expand the exchange’s global operations and offer an extensive network of local payment solutions, designed to increase crypto adoption worldwide.
• This alliance exemplifies both companies‘ commitments to address the growing need for a frictionless digital asset trading experience.
Banxa and BitMart Partner for Seamless Fiat-to-Crypto Onboarding
Benefits of the Partnership
Banxa Holdings Inc. (TSXV:BNXA) (OTCQX:BNXAF) (FSE:AC00) („Banxa“ or „The Company“) has announced a strategic partnership with BitMart, the premium global digital asset exchange. The collaboration will unlock fiat-to-crypto on-and-off-ramping and further advance cryptocurrency adoption in vital markets such as Asia Pacific (APAC) and Latin America (LATAM). Key benefits of the partnership include:
Expanded Global Footprint
Banxa will give BitMart users more on-and off ramp options in APAC and LATAM, on top of Banxa’s extensive global coverage such as PayID, POLi, ACH in the US, SEPA in Europe, and many more. This ability serves the exchange’s global expansion efforts to further meet customers‘ needs in their respective local markets.
Banxa will aid BitMart in onboarding global users with an extensive network of local payment solutions, designed to increase crypto adoption worldwide and result in conversion rates up to three times higher than credit card only solutions.
Higher Conversions + Lower Fees
Banxa’s ability to provide access to local markets – with its licenses and registrations as well as alternative payment methods – leads to higher conversion rates and reduced fees for users.
The alliance between Banxa Holdings Inc., TSXV:BNXA(OTCQX:BNXAF)(FSE:AC00), and Bitmart exemplifies both companies‘ commitments to address the growing need for a frictionless digital asset trading experience by providing users with an extensive network of global payment options that are tailored towards increasing cryptocurrency adoption worldwide.
• SHIB booth at SXSW 2023 is a popular spot in the exhibition hall.
• John Richmond has provided avatars with digital makeovers.
• The metaverse industry will likely become mainstream over the next 6-10 years.
SHIB Booth Popular at SXSW 2023
The SHIB booth was a hit at this year’s SXSW conference in Austin, Texas. Shibarium, the layer-2 protocol for the Shiba Inu (SHIB) ecosystem release of beta version last weekend also attracted attention from attendees. Badge holders were able to experience the creation and history of SHIB for all 3 days of the event. This year’s SXSW XR & Metaverse category had a special fanbase for conferences, exhibits, and screenings, though many consider the metaverse not yet ready for mainstream consumption.
John Richmond Brings Fashion to Metaverse
Fashion designer John Richmond has taken his work into the digital world by providing makeovers to avatars through digital wearables he designed himself. His presence at SXSW was featured in WWD’s tweet on March 14th where they announced that „Shib the metaverse will be on full display“ at their booth during the conference.
Metaverse Expected to Become Mainstream Soon
Experts agree that it won’t take long for metaverse technology to become mainstream—estimated time frame being 6-10 years from now. At SXSW 2023, attendees got an inside look into how this revolutionary innovation works and its potential applications outside of gaming and entertainment industries such as fashion design, collaboration opportunities, etc.
SXSW Showcases Innovations Across Industries
SXSW is an annual event that brings different innovations from various fields together under one roof and encourages collaborations between them to share their unique ideas and visions with each other as well as with industry professionals and consumers alike who come out to explore these offerings firsthand.
Though still considered somewhat niche by many, there is no denying that metaverse technology is on its way up and should soon become part of our everyday lives in some capacity or another within just a few short years—and SHIB certainly played its part during this year’s SXSW conference in ushering in that future!
• Thai Cabinet announces tax benefits for businesses that issue digital tokens.
• Exemption covers both main and secondary markets for ICOs issued by corporations or registered organizations.
• Bank of Thailand places limits on use of digital assets to protect financial stability and economy.
Thailand Excludes Firms Issuing Digital Tokens From Taxation
The Thai government recently announced that they will be exempting businesses that issue digital tokens for investment from paying corporate income tax and value-added taxes. This move is seen as a positive step towards the crypto sector, with Finance Minister Arkhom Termpittayapaisith stating that the exemption covers both primary and secondary markets for ICOs issued by corporations or registered organizations.
Boosting Crypto Expansion
Analysts predict that investment token sales will raise about $3.71 billion over the next two years, resulting in a loss of about $1 billion in tax income for the government. The Thai government has eased up on crypto trading laws last year, leading to increased cryptocurrency use within the country.
Limits On Use Of Digital Assets
The Bank of Thailand and other authorities have placed limits on the use of digital assets for payments or other services in order to protect their financial stability and economy. These authorities are also experimenting with Central Bank Digital Currency (CBDC) as a possible cornerstone of tomorrow’s banking system.
Tax Benefits For Investment Tokens
Deputy Government Spokesperson Rachada Dhnadirek said that enterprises will use investment tokens and other means such as debentures to obtain funds, with investors getting Value-Added Tax (VAT) exemptions when purchasing these tokens.
The Thai government’s decision to provide tax benefits to firms issuing digital tokens is seen as a step towards promoting cryptocurrency growth within their nation, while balancing it with necessary regulations set forth by their central bank to maintain economic stability.