Coins.ph Partners with Stables to Use PHPC Stablecoin for Cross-Border Remittances
Coins.ph has teamed up with Stables Money to expand the use of its Philippine peso-pegged PHPC stablecoin for remittances. Stables Money views this as a significant step in simplifying global remittances to the Philippines, which already sees a large volume of peso transactions. Launched in July after approval from the Bangko Sentral ng Pilipinas, PHPC is traded on the Ronin network, enhancing its accessibility. The collaboration underscores Coins.ph's growing influence in the global remittance space. (Cointelegraph)
Hong Kong Launches Project Ensemble Sandbox to Explore Tokenization in Banking
Hong Kong has introduced a sandbox for Project Ensemble, focusing on integrating tokenization into the traditional banking sector through a central bank digital currency (CBDC). Major participants include top banks like HSBC and Standard Chartered, alongside tech firms such as Microsoft and blockchain companies Ant Digital and HashKey. The sandbox will initially explore applications in fixed income, liquidity management, green finance, and trade finance. This initiative follows the HKMA's ongoing research into CBDCs, with Project Ensemble marking a key step in testing real-world use cases for tokenized money. (The Block)
Singapore Set to Host Record-Breaking TOKEN2049: 20,000 Attendees Expected
TOKEN2049, the world’s largest crypto event, is heading to Singapore on September 18-19, 2024, at Marina Bay Sands, with a record-breaking attendance of 20,000 expected. The event will feature a star-studded lineup, including Max Verstappen, Iggy Azalea, and Bryan Johnson, alongside leading figures from Web3 and tech. Over 500 side events will complement the main conference, offering extensive networking and collaboration opportunities. Exhibition space has sold out, and ticket sales are anticipated to follow suit. TOKEN2049 Week will run from September 16-22, turning Singapore into a hub of innovation. (Blockhead)
Kaia Layer-1 Blockchain Launches Mainnet, Targets Telegram-Style Apps
Kaia, the Layer-1 blockchain developed by Kakao and LINE, officially launched its mainnet on August 29, boasting features such as one-second finality and ultra-low gas fees. This new blockchain merges Kakao’s Klaytn and LINE’s Finschia, integrating with popular messaging platforms used by over 250 million users across Asia. Kaia aims to support a range of applications including DeFi, gaming, and web3-based messenger apps, and invites developers to build Telegram-style mini dApps on LINE through its NEXT WEB SDK. Additionally, Kaia’s new token will be listed on HashKey Global, with a trading event offering 75,000 KLAY in rewards. (The Block)
Maker Rebrands as SKY, Upgrades DAI to USDS
Maker DAO is rebranding as Sky, with its DAI stablecoin transitioning to USDS and its MKR governance token becoming SKY, effective September 18. The upgrade offers features such as native token rewards through the new sky.money app, and the DAI Savings Rate will now be known as the Sky Savings Rate. Users who opt to keep their old tokens can still use them within the renamed Sky protocol. The rebranding aims to enhance decentralization and governance, while Maker’s SubDAOs will be renamed “Sky Stars,” with independent tokens and governance systems. (Blockworks)
Sony Launches Minato Testnet for Ethereum Layer-2 Blockchain, Unveils Developer Incentives
Sony's blockchain subsidiary has introduced the "Minato" testnet for its Ethereum Layer-2 blockchain, Soneium, alongside a new developer incubation program, Soneium Spark. This initiative, a collaboration between Sony and Web3 provider Startale, aims to foster high-volume applications and blockchain growth, with support from Astar Network for initial liquidity. The Soneium Spark program offers developers access to infrastructure, mentorship, and up to $100,000 in funding, with additional support from major Web3 partners. The launch of Minato is a key step in Sony's strategy to drive blockchain adoption and attract developer interest. (Decrypt)
Nvidia Q2 Revenue Surges Past Expectations, Signals Strong AI Sector Growth
Nvidia reported a record-breaking Q2 revenue of $30 billion, exceeding forecasts by $2 billion and highlighting a robust performance in the AI sector. The company's CFO, Colette Kress, attributed the success to high sales of graphics processing units, anticipation for the new "Blackwell" chips, and solid data services performance, particularly in China. Nvidia projects an even stronger Q3 with expected revenues of $32.4 billion, bolstering investor confidence and signaling a positive outlook for the AI industry. The earnings call is seen as a key indicator of the sector's health, with Nvidia maintaining its leading position. (Cointelegraph)
