• Unbanked, the leading provider of white-label crypto card issuance and program management service for Web3 companies has partnered with Mastercard to accelerate DeFi card issuance in Europe.
• Through this initiative, Unbanked and Mastercard are committed to enabling the issuance of cryptocurrency powered card programs focused on simplicity, security, and consumer protections.
• The Unbanked platform supports many of the Web3 industries largest players by enabling companies to create a custom branded experience for their user base.

Unbanked & Mastercard Partner Up

Unbanked and Mastercard have now teamed up to accelerate cryptocurrency-powered cards in Europe. This collaboration is aimed at providing card programs with a focus on simplicity, security and customer protection.

Litecoin Card Availability Expansion

The partnership between Unbanked and Mastercard has enabled the Litecoin Card program to become available for residents in the UK and Europe – reaching approximately 84% of Europe’s population. Litecoin is one of the oldest cryptocurrencies used on a global scale, created to provide fast payments by utilizing blockchain technology.

Unbanked Platform Support

Unbanked offers various services including white-label card issuance, crypto wallets, bank accounts and more via its API allowing large companies within Web3 industries to customize their user experience. Charlie Lee from Litecoin Foundation expressed his excitement around this expansion as it allows users outside of U.S access to the Litecoin Card program.

Mastercard’s Perspective

Christian Rau from Mastercard stressed that they want to offer choice when it comes to how people pay or get paid, hence why they are collaborating with Unbanked in order to empower choice within the market while offering safety guarantees customers would expect from their network.

Conclusion

The partnership between Unbanked & Mastercard will allow users throughout Europe access to cryptocurrency powered cards which provide convenience and safety without compromising efficiency or cost involved when making payments globally .

• Sam Bankman-Fried, co-founder of FTX, is seeking removal of bail restrictions on crypto asset transfers.
• His attorney, Mark Cohen, has sent a letter to the Southern District of New York (SDNY) judge Lewis Kaplan, requesting that two of the bail conditions be removed.
• These conditions include prohibiting Bankman-Fried from speaking with certain individuals, and restricting his access to crypto assets associated with FTX and Alameda Research.

Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking to have his bail conditions amended in order to gain access to crypto assets associated with FTX and Alameda Research. Bankman-Fried was indicted by a federal grand jury in Manhattan, and currently faces eight charges, including wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, money laundering, conspiracy to defraud the Federal Election Commission, and campaign finance violations. Consequently, the court’s Judge Kaplan imposed certain bail restrictions on Bankman-Fried, primarily remanding him to his parents’ home in California with a government-monitored ankle bracelet.

In an attempt to have these restrictions removed or amended, Bankman-Fried’s attorney, Mark Cohen, has sent a letter to the Southern District of New York (SDNY) judge Lewis Kaplan. Cohen, who represented Ghislaine Maxwell during her recent sex trafficking case, requests that “two additions” be removed from Bankman-Fried’s bail conditions. The first is that Bankman-Fried is currently prohibited from speaking with Caroline Ellison, Gary Wang, Nishad Singh, two redacted witnesses, and George Lerner (Bankman-Fried’s therapist). Cohen stresses that the bail condition is “overbroad” and Bankman-Fried’s intentions to contact these individuals are attempts to “offer assistance in FTX’s bankruptcy process”.

The second condition that Cohen seeks to have removed is the restriction on Bankman-Fried’s access to crypto assets associated with FTX and Alameda Research. Cohen argues that this condition is “unreasonable” and does not serve any legitimate purpose, as Bankman-Fried has no intention of engaging in any financial activities related to FTX or Alameda Research.

The letter concludes by urging the court to remove the bail restrictions, as it will enable Bankman-Fried to “re-establish the trust and credibility” that he had built in the crypto industry prior to his indictment. It remains to be seen whether the court will grant Bankman-Fried’s request or not, but the crypto industry is closely watching the situation as it unfolds.

• Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, announced that the kingdom is open to trading in currencies other than the U.S. dollar.
• This move away from the U.S. dollar signals a changing economic landscape, following China’s President Xi Jinping’s urging for the Gulf monarchs to accept yuan for oil.
• These statements were made at the 2023 World Economic Forum in Davos and are seen as another step toward de-dollarization.

This week, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, made a statement that has the potential to change the global economic landscape. During the 2023 World Economic Forum in Davos, Switzerland, Al-Jadaan announced that the kingdom is open to trading in currencies other than the U.S. dollar. This shift away from the dollar signals a changing economic landscape and is seen as another step toward de-dollarization.

The move is likely in response to China’s President Xi Jinping’s urging for the Gulf monarchs to accept yuan for oil. Last March, Riyadh officials said that the country would consider accepting the Chinese currency. The statements made by Al-Jadaan this week show that Saudi Arabia is taking action on this initiative.

Al-Jadaan said, “There are no issues with discussing how we settle our trade arrangements, whether it’s in the U.S. dollar, the euro, or the Saudi riyal.” He also made it clear that the country is looking to improve trade between China, the U.S., and other countries.

This shift away from the U.S. dollar is a major step, as the country has had a 48-year relationship solely with the U.S. currency. However, the shift could open doors for other currencies, including the euro and the Saudi riyal, to be used in trading.

It is important to note that this shift may not be solely driven by Saudi Arabia’s own interests. In 1971, the U.S. government and President Richard Nixon ended the gold standard, and over the next three years, oil prices skyrocketed. In 1973 and 1974, federal officials and U.S. Treasury Secretary William Simon visited with monarchs in Riyadh.

Mohammed Al-Jadaan’s statements this week are a significant step in global economics, and the world will be watching to see the ripple effects of this decision. It remains to be seen what kind of impacts this shift away from the U.S. dollar will have on the global economy, but it is clear that this move is signaling a changing landscape.

Bullet Points:
• Hong Kong Financial Secretary Paul Chan Mo-po reaffirmed the city’s commitment to become a regional crypto hub.
• The city is issuing more licenses for digital asset trading firms, and is exploring potential for retail participation in the industry.
• The Securities and Futures Commission (SFC) issued a statement warning about the risks associated with crypto platforms.

Hong Kong is reaffirming its commitment to become a regional crypto hub following the collapse of cryptocurrency exchange FTX. The Financial Secretary of Hong Kong, Paul Chan Mo-po, has stated that the city is working to create a robust regulatory framework for crypto that matches international norms and standards. He also mentioned that Hong Kong has become a quality standing point for digital asset corporates.

In line with these efforts, the city has begun issuing more licenses for digital asset trading firms. The Securities and Futures Commission (SFC) is also conducting a consultation on crypto platforms in order to explore the potential for retail participation in the industry. Elizabeth Wong, the SFC’s director of licensing and head of the fintech unit, mentioned in October last summer that Hong Kong is making it easier for retail investors to trade crypto assets.

The SFC has also issued a statement warning about the risks associated with crypto platforms offering deposits, savings, earnings, and staking services. These risks include market manipulation and money laundering, as well as the potential for losses due to inadequate investor protection.

Overall, Hong Kong is pushing forward with its commitment to become a regional crypto hub. The government is issuing more licenses for digital asset trading firms and exploring potential for retail participation in the industry. At the same time, the SFC is continuing to warn about the risks associated with crypto platforms, emphasizing the need for adequate investor protection. With these efforts, Hong Kong is well on its way to becoming a regional crypto hub.

• Mark Moss, CEO of Market Disruptor, predicts that significant regulation is coming to the cryptocurrency industry following the collapse of FTX.
• Moss believes that future cryptocurrency bull runs won’t happen and that most cryptocurrency assets will be regulated as securities in the future.
• However, Moss believes that Bitcoin will endure as it is “solving a problem that has plagued humanity from Day One.”

Mark Moss, the CEO of Market Disruptor, recently spoke to Michelle Makori, the lead anchor of Kitco News and the company’s editor-in-chief, about the cryptocurrency industry and bitcoin (BTC). He believes that the recent FTX collapse has accelerated the coming of regulation, and he thinks that most cryptocurrency assets will be regulated as securities in the future.

Moss explained that the U.S. Securities and Exchange Commission’s (SEC) charges against FTX co-founder Sam Bankman-Fried define FTX’s exchange token, FTT, as an unregulated security. He also mentioned how a New Hampshire court sided with the SEC in the lawsuit against LBRY, and LBRY said the language used to sway the court’s decision “sets an extraordinarily dangerous precedent.”

The Market Disruptor executive and author of the ​​”The Un-Communist Manifesto” believes that deeming most crypto tokens as securities will likely force projects to create full disclosures for investors. He said that “Imagine Ethereum going through full disclosure. Who created the token? How many [coins] are controlled by insiders?”

Moss also predicted that future cryptocurrency bull runs probably won’t happen, but he believes that Bitcoin will continue to see demand as it is “solving a problem that has plagued humanity from Day One.” He believes that the cryptocurrency industry will be subject to significant regulation in the near future and the challenges associated with this will be overcome.

• BMW, the German car manufacturer, has partnered with Coinweb, a decentralized blockchain layer 2-based company, to introduce blockchain-based tools to its operations.
• These tools include a smart contracts platform to streamline financing processes, and a blockchain-based loyalty program to reward customers.
• Binance’s BNB Chain will be used as the anchor chain for these transactions due to its performance-to-cost ratio.

The luxury car manufacturer BMW has recently announced a partnership with Coinweb, a decentralized blockchain layer 2-based company, to introduce blockchain-based tools to its operations. This alliance will bring the advantages of decentralized ledger technology (DLT) to the automotive company, with the objective of streamlining different processes that need to be completed for the financing of BMW-branded vehicles.

The development of the smart contracts platform would encompass the implementation of an Anti Money Laundering (AML) & Know Your Customer (KYC) tool, adapted to the regulations of Thailand, where the project will take place. This system will help the car manufacturer to improve its efficiency, reduce costs and mitigate risks in the operations related to vehicle financing.

Additionally, this partnership also contemplates the creation of a blockchain-based loyalty program to reward customers of the brand with products and services, assigning a rank to each customer directly related to their rewards accumulation.

To ensure the reliability of the transactions, Coinweb will use Binance’s BNB Chain as the anchor chain due to its performance-to-cost ratio. However, the transactions could be broadcasted to other blockchains if needed, providing flexibility to the system.

The introduction of DLT-based tools is a part of BMW’s strategy to bring the most advanced technologies to the automotive sector, and to offer superior services to its customers. The company is confident that this alliance with Coinweb will help to further improve its processes, and to establish an innovative loyalty program that will reward its customers for their loyalty.