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Daily News Summary 2/7

July 2, 2024 Tóth Balázs
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Fiat On-Ramp Now Available on Uniswap Wallet

Web3 payment infrastructure provider Transak has announced a partnership with Uniswap Labs to offer fiat on-ramp services to users through the Uniswap Wallet. This integration allows users to purchase crypto assets directly within the Uniswap Wallet, bypassing the need for transfers from centralized exchanges (CEX), potentially opening the door for new users.

Paxos Gets Green Light in Singapore

Stablecoin issuer Paxos’ subsidiary, Paxos Digital Singapore, has received approval from the Monetary Authority of Singapore to provide digital payment token services. This key license allows Paxos to issue stablecoins in compliance with regulatory frameworks, marking a significant expansion in its global operations. Paxos has partnered with DBS Bank for cash management and custody of stablecoin reserves.

Swiss Government-Owned Bank Expands Crypto Services

PostFinance, a bank owned by the Swiss government, has announced the expansion of its crypto asset offerings. The bank has launched trading and custodial services for Ripple (XRP), Solana (SOL), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT). This move is part of PostFinance’s ongoing strategy to integrate digital assets into its services.

AI Development Platform Raises $85 Million

Sentient, an open-source AI development platform, has raised $85 million in a seed funding round led by Peter Thiel’s Founders Fund, Pantera Capital, and Framework Ventures. Among its primary supporters is Sandeep Nailwal, co-founder of Polygon, with Sreeram Kannan, founder and CEO of EigenLayer, serving as an advisor from day one.

Lombard Bitcoin Restaking Protocol Closes Seed Funding

The Lombard Bitcoin restaking protocol has closed a $16 million seed funding round led by venture capital firm Polychain Capital. Lombard plans to use the funds to develop the Bitcoin restaking ecosystem alongside Babylon, its Bitcoin staking protocol. The company announced its intention to integrate its LBTC liquidity token into Ethereum DeFi protocols within the year.
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