RACE-CAP Inc. (“RACE-CAP”), a global blockchain-based solutions developer, today announced the launch of RACE-PAY, the first of RACE-CAP’s apps designed to give the world easier access to digital money (“Money Apps”).
RACE-PAY will simplify the management of both traditional and digital currencies. It is intended to enable anyone with a bank account to send and receive funds, exchange money, and even make investments – all in one app – quickly and securely. The app will include the ability to send money within an internal chat window in addition to a news and information portal. Not all features will be available in the initial release, as RACE-CAP is committed to ensuring that it operates in compliance with regulations in the marketplaces it will serve. Additional features will be added as the product is systematically upgraded.
“The emerging world of digital money is difficult for most people to navigate,” says Arthur Davis, Chairman and CEO of RACE-CAP. “RACE-PAY starts to bridge the gap between the old and new economies.”
With its easy-to-use and intuitive interface, RACE-PAY helps people new to the leading digital currencies transition from traditional to digital assets, so they can participate in the fast-growing new financial reality.
RACE-CAP’s mission is to bring the performance advantages of blockchain technology to individuals and businesses everywhere, by creating global digital Money Apps and a proprietary network to power them.
“I founded RACE-CAP to empower everyone to achieve economic freedom through easy access to the blockchain technologies of the future, based on today’s digital economy,” said Arthur.
“Through the development of a suite of vertically integrated, desktop and mobile-based products and services, RACE-CAP intends to bring ‘Blockchain to Life’ and aims to set the standard in the blockchain-based digital asset industry.”
RACE-CAP welcomes everyone to register now at www.race-cap.com to be notified as soon as RACE-PAY becomes available for download from the Android and Apple App stores – and learn of other products and services as they become available.
Chainalysis Launches First Actionable Real-Time Alerts for Suspicious Transactions Across 15 Cryptocurrencies
Chainalysis, the blockchain analysis company, today announced the launch of suspicious cryptocurrency transaction alerts in Chainalysis Know Your Transaction (KYT), the real-time anti-money laundering (AML) compliance solution for monitoring cryptocurrency transactions. It is the first compliance alerts solution available across 15 cryptocurrencies.
Chainalysis KYT alerts are designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by helping compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources.
“As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices,” said John Dempsey, VP Product, Chainalysis. “Every minute counts when managing exposure to sanctioned entities, hacked funds, darknet markets, and other illicit activities, which is why Chainalysis is investing in fast, actionable alerts to help our customers mitigate risk across cryptocurrencies.”
Chainalysis KYT has always provided real-time transaction monitoring for large volumes of cryptocurrency activity to identify high risk behavior, and now alerts are generated whenever a transfer involves a risky counterparty and crosses a value threshold. Alert levels include Severe, High, Medium, and Low, and are based on factors such as category, service, direct versus indirect exposure, direction of funds, and amount. Alerts are available for all 15 cryptocurrencies supported by Chainalysis, including Bitcoin, Ether, Bitcoin Cash, Litecoin, and top stablecoins and ERC-20 tokens such as Tether, Maker, and Dai, with additional cryptocurrencies coming soon.
With alerts functionality built directly into the user interface and API, cryptocurrency businesses and financial institutions can keep track of, investigate, or take action on risky transfers. Additionally, customers can customize risk parameters based on their own business policies to help allocate resources accordingly.
“As a New York Trust company we are required to monitor transactions on and off our platform,” said Michael Breu, Gemini’s Chief Compliance Officer. “Tools like KYT alerts, which provide real time and ongoing blockchain analysis, coupled with Gemini’s own compliance policies, help us meet our regulatory obligations.”
For the First Time, Huobi Token Is Now Usable as an eCommerce Payment Method
Huobi is pleased to announce that Huobi Token (HT) can now be used to purchase art, apparel, hardware, event tickets and more from the eCommerce and crypto news platform FomoHunt. This marks the first time HT can be used for eCommerce by the general public.
While HT can be used for all merchandise on the site, offerings at FomoHunt also now include exclusive Huobi-branded merchandise.
“Our partnership with FomoHunt allows us to do two big things at once,” said Helena He, Head of Global Operations. “First, it’s a big step in expanding HT’s usefulness outside our direct ecosystem and making it more accessible to the general public. Second, it gives members of our community direct access to Huobi-branded merchandise, which is something many have repeatedly been asking for.”
FomoHunt co-founder, James Lawrence, expressed optimism about the new partnership.
“Being able to work directly with Huobi is an amazing opportunity. We are working together to allow our community users to use Huobi Token and make real-world purchases for clothes, art, FomoHunt subscriptions, event tickets, and even mining hardware. FomoHunt looks forward to future collaborations with Huobi.”
Huobi has made developing HT a priority over the past eight months. For example, Huobi Prime and Huobi FastTrack, Huobi’s innovative premium coin launch platform and its new coin listing program, which respectively launched in March and June this year, both use HT as their main token of exchange. In July, Huobi implemented a series of tiered trading fee discounts for users based on HT holdings.
Founded in 2018 as an alternative to the disparate information found across the internet, FomoHunt is a discovery portal into the world of blockchain projects, founders, events, products, and news. FomoHunt aims to provide an easy and streamlined portal for blockchain newcomers and experienced veterans with unrivalled project information and up to date information.
To learn more about Fomohunt, go to: https://www.fomohunt.com/marketplace/
To learn more, contact email@example.com
Fiat Withdrawals Available With TUSD and PAX
Stablecoin partners facilitate fund transfers to personal bank accounts easily.
Crypto.com, the pioneering payments and cryptocurrency platform, is pleased to highlight two fiat withdrawal solutions via TrueUSD (TUSD) and Paxos Standard (PAX) stablecoins for Crypto.com App users.
Crypto.com has recently entered a partnership with TrustToken and Paxos Standard for Crypto.com Chain, which will allow merchants to get paid in USD.
As an extension to this partnership, Crypto.com App users can now redeem their TUSD or PAX 1-to-1 against USD, which will be wired directly to their personal bank accounts. This is an appealing use case for App users who want to monetize their crypto gains, holdings, or Crypto Credit loans.
Kris Marszalek, Co-founder and CEO of Crypto.com said, “The team is committed to making efficient fiat withdrawal available to customers. As we work on more traditional solutions, we are pleased to share two important supporting solutions from our stablecoin partners.”
Tory Reiss, Co-Founder of TrustToken said, “We are excited to be deepening our collaboration with the Crypto.com team. Finding a reliable way to move fiat on and off their platforms continue to be a headache for crypto companies. At TrustToken, we are continuing to double down on this use case by building out strong compliance practices and adding additional payment rails.”
Scott Simpson, VP of Strategic Partnerships of PAXOS said, “We believe that building a vibrant ecosystem for PAX is crucial for increasing use in consumers’ daily lives. Our partnership with Crypto.com makes it easier for consumers to benefit from their crypto holdings and were excited to make this important functionality live.”
DISCLAIMER: THE STABLE COINS AND USD REDEMPTION IS HANDLED AND PROCESSED BY TRUSTTOKEN OR PAXOS STANDARD, CRYPTO.COM IS NOT RESPONSIBLE OR LIABLE FOR ANY DISPUTE ARISE FROM SUCH ARRANGEMENT.
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