Latest News
iMining Technologies Launches Staking on Terra LUNA
CanETH Staking Services Inc., a wholly owned subsidiary of iMining Technologies Inc., enables Terra (“LUNA”) token staking. The staking operation will secure the Terra Blockchain while generating additional cryptocurrency.
Vancouver, British Columbia–(Newsfile Corp. – December 16, 2021) – iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining“) announced today that its wholly owned subsidiary, CanETH Staking Services Inc. (“CanETH”) has launched staking solutions for the native token of the Terra Blockchain, LUNA.
Recently, LUNA has outshined its peers, including Ethereum and Bitcoin, as it has been able to further develop its entire ecosystem. Like Ethereum, Terra is a programmable money for the internet. “Terra deploys a suite of algorithmic decentralized stable coins which are one of the key pillars in Decentralized Finance,” said Dwain Pereira, VP Staking Solutions. “Staking on Terra LUNA is rewarded by compute fees, stability fees and swap fees. Terra has become one of the fastest growing ecosystems in crypto with many projects across DEFI, Web3.0 and NFTs.”
Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stable coins which underpin a thriving ecosystem that brings Decentralized Finance to the masses. The Terra blockchain is unique because it is able to host a multitude of algorithmic stable coins on its network. Terra LUNA is the 12th largest blockchain with a market cap of US$23.6 billion.
While many see the benefits of a price stable cryptocurrency that combines the best of both fiat and crypto, not many blockchains have a clear plan for the adoption of such a cryptocurrency. Since the value of a currency as a medium of exchange is mainly driven by its network effects, a successful digital currency needs to maximize adoption to become useful. Terra LUNA, which is both price stable and growth driven, achieves price stability via an elastic money supply, enabled by stable staking incentives. It also uses seigniorage created by its staking operations as transaction stimulus, thereby facilitating adoption.
“The price volatility of cryptocurrencies is a widespread challenge and I believe Terra LUNA has both price stability and growth. Terra LUNA is expected to have a significant impact as one of the best use cases across DEFI, Web3.0 and NFTs,” said Khurram Shroff, CEO of iMining.
About iMining Technologies Inc.
iMining is a publicly listed Web3.0 technology company developing technology for Proof of Stake (“POS”) infrastructure on Ethereum, Cardano, Avalanche and Solana Blockchains and investing in revenue-generating crypto and blockchain assets linked to Decentralized Finance (“DeFi”) and Non-Fungible Tokens (“NFT”). iMining also owns BitBit Financial, an ATM Network and crypto OTC Platform.
With diverse blockchain investment and infrastructure solutions, iMining will be a leader in accelerating the growth of Web3.0 for the enterprise market. The Company’s operations include secure and sustainable cryptocurrency payments, staking, mining and digital asset investment designed for the scale and compliance requirements of institutional clients. iMining is committed to building strong global blockchain ecosystems and supporting inclusive access to digital tools and technologies.
ON BEHALF OF THE BOARD
Signed “Khurram Shroff“
Khurram Shroff, President & CEO
FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Saleem Moosa, Director
Email: [email protected]
Telephone: 1-604-602-4935
Toll Free: 1-866-602-4935
Evan Eadie, Corporate Development
Email: [email protected]
Telephone: (604) 602-4935 ext. 203
Toll Free: 1-866-602-4935
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance, and reflect management’s current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107793
Powered by WPeMatico
Latest News
Revio, the young fintech winning over Old Mutual and MTN
Latest News
Basel Committee highlights rising risks from finance digitalisation in new report
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
Latest News
French fintech Lydia launches digital banking app Sumeria
Lydia, a prominent French fintech company known for its innovative financial solutions, has taken a significant leap forward with the launch of its new digital banking app, Sumeria. This development marks a strategic expansion for Lydia as it continues to redefine the financial landscape in Europe and beyond.
About Lydia
Since its inception, Lydia has been at the forefront of fintech innovation in France, providing users with seamless and user-friendly payment solutions. The company has built a strong reputation for its mobile payment app, which allows users to send and receive money, pay for goods and services, and manage their finances with ease. With millions of users and a robust platform, Lydia is well-positioned to venture into the digital banking space.
Introducing Sumeria
Sumeria is Lydia’s latest offering, designed to cater to the growing demand for comprehensive digital banking solutions. The app aims to provide users with a full suite of banking services, all accessible from their smartphones. Key features of Sumeria include:
- Personal and Business Accounts: Sumeria offers both personal and business accounts, enabling users to manage their finances efficiently. The app supports a range of functionalities tailored to meet the needs of individual users and small to medium-sized enterprises (SMEs).
- Intuitive Interface: True to Lydia’s commitment to user experience, Sumeria boasts an intuitive and easy-to-navigate interface. Users can quickly access account information, transaction history, and various banking services with just a few taps.
- Comprehensive Financial Tools: Sumeria provides a range of financial tools designed to help users better manage their money. Features such as budgeting, expense tracking, and personalized financial insights empower users to make informed financial decisions.
- Security and Privacy: Lydia places a high priority on security, and Sumeria is no exception. The app incorporates advanced security measures, including biometric authentication and end-to-end encryption, to ensure that users’ financial data is protected.
- Integrated Payments: Leveraging Lydia’s expertise in payments, Sumeria integrates seamless payment solutions, allowing users to send and receive money instantly, pay bills, and make purchases directly from the app.
Strategic Implications
The launch of Sumeria represents a strategic move for Lydia, positioning the company as a formidable player in the digital banking arena. By expanding its product offering, Lydia aims to capture a larger share of the market and meet the evolving needs of its users. This initiative also reflects a broader trend in the fintech industry, where traditional payment service providers are evolving into comprehensive financial service platforms.
Market Impact
Sumeria’s entry into the market is poised to have a significant impact. With its user-centric design and robust feature set, the app is likely to attract a diverse user base, from tech-savvy millennials to SMEs seeking efficient banking solutions. Moreover, Sumeria’s integration with Lydia’s existing payment infrastructure provides a seamless transition for current Lydia users, further boosting its adoption.
Future Prospects
Looking ahead, Lydia plans to continually enhance Sumeria by adding new features and expanding its services. The company’s focus on innovation and customer satisfaction will be key drivers of Sumeria’s growth. Additionally, Lydia’s potential to scale Sumeria across other European markets presents a substantial opportunity for further expansion.
Source: fintechfutures.com
The post French fintech Lydia launches digital banking app Sumeria appeared first on HIPTHER Alerts.
-
Latest News6 days ago
Al Hassan Ghazi Ibrahim Shaker Co. announces a strong start to FY24, reporting a 12.09% YoY increase in net profit to reach SAR 32.25 million in Q1-FY24
-
Latest News6 days ago
Newgen Recognized in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions 2023 Report
-
Latest News6 days ago
Major Korean pension fund invests in carbon solutions with Stafford Capital Partners
-
Latest News5 days ago
Precisely Showcases Critical Role of Trusted Data in AI at the Gartner® Data & Analytics Summit in London
-
Latest News5 days ago
One United Properties posts a consolidated turnover of 84.3 million euros and a gross profit of 37 million euros in the first three months of 2024
-
Latest News5 days ago
Checkout.com’s 4th annual MENA report finds cash on delivery usage halved, amongst maturing digital economy
-
Latest News6 days ago
XREX Singapore Receives MAS Major Payment Institution Licence
-
Latest News3 days ago
B Lab UK research reveals UK public back change to company law to put people, the planet and profit on more equal footing