Binance offloads Russian business, teams up with SticPay for crypto transactions By Investing.com

In a series of strategic moves, Binance, the world’s largest cryptocurrency exchange, has announced its partnership with digital wallet SticPay to facilitate enhanced access to over 70 cryptocurrencies. This development was confirmed by SticPay CEO Sean Park on Thursday. Concurrently, Binance is divesting its Russian business to CommEx for compliance reasons, as disclosed by Binance’s Chief Compliance Officer Noah Perlman, ensuring the protection of Russian account holders’ assets.

Some weeks back, JP Morgan Chase (NYSE:JPM) UK made headlines by prohibiting crypto transactions due to fraud concerns. This decision follows similar steps taken by banks like NatWest. Despite this, the banking giant is simultaneously advancing its digital asset services with the launch of the Tokenized Collateral Network (TCN) through its Onyx Digital Assets platform. The platform recently completed a transaction involving tokenized money market fund shares with BlackRock (NYSE:BLK) and Barclays bank. BlackRock’s Tom McGrath highlighted the potential of tokenization in financial transactions.

In other blockchain news, Birake Exchange has entered into a partnership with IDVerse (formerly OCR Labs) this week to integrate identity verification during customer onboarding. The exchange operates on a blockchain powered by Birake Coin (BIR).

Quant, a prominent blockchain company led by Gilbert Verdian, has unveiled Overledger Authorise. This digital asset key management solution was successfully tested in Project Rosalind, a collaboration with the Bank for International Settlements. The new solution aims to enhance blockchain transaction security for financial institutions.

Lastly, Ripple Markets APAC has secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license will allow the firm to issue digital payment tokens. Ripple CEO Brad Garlinghouse praised this development as an important step forward for the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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