Binance Launches Marketplace For Inscription Tokens

Hi NoRamp Community,

Daily News:

1) UAE & China Complete First $13.6M Cross-Border CBDC Transaction

2) Binance Launches Marketplace For Inscription Tokens

3) Pixelmon Raises $8 Million

4) Nuvei & Cash App Partner to Transform Online Payment Experience

5) Mastercard Launches GenAI Tool to Combat Fraud

UAE & China Complete First $13.6M Cross-Border CBDC Transaction:

• The UAE and China completed their first cross-border transaction using digital currencies, valued at $13.6 million, through the m-CBDC Bridge platform, marking a milestone in multilateral financial exchanges.

• The transaction, part of the Central Bank of UAE's 50th anniversary, involved digital dirham and digital yuan, showcasing the potential of digital currencies in enhancing the efficiency of international trades.

• Project mBridge, initiated by the Bank for International Settlements along with central banks from Hong Kong, the UAE, China, and Thailand, aims to revolutionize cross-border transactions with a focus on improving the digital yuan's capabilities for remittances and payments, particularly between Mainland China and Hong Kong.

Binance Launches Marketplace For Inscription Tokens:

• Binance has launched the "Binance Inscriptions Marketplace" for users to buy, sell, and mint inscription tokens, hosted within a self-custody crypto wallet on its app, supporting BRC-20, EVM tokens, and other inscriptions.

• The platform aims to lower transaction costs by facilitating the minting of BRC-20 and EVM tokens and capitalizes on the growing market for inscriptions, noting milestones like the BRC-20 token ORDI reaching a $1 billion market cap.

• Binance's marketplace integrates UniSat's API, providing access to UniSat’s liquidity and over 60,000 BRC-20 tokens, following similar moves by OKX to enable various inscription standards.

Pixelmon Raises $8 Million:

• Pixelmon, initially criticized for its NFT artwork, announced an $8 million seed raise with investors like Animoca Brands and Delphi Digital, following its acquisition by LiquidX in 2022. The raise aims to bolster Pixelmon's vision and upcoming projects, despite having sufficient funds for years ahead.

• After revamping its artwork and developing games around its crypto IP, Pixelmon launched Kevin the Adventurer on the Base network and plans more games, including PixelPals and a rebuilt Pixelmon Arena. An open-world RPG, Hunting Grounds, is slated for early 2025, with the team exploring various Web3 gaming mechanics and platforms.

• Pixelmon aims to evolve into a decentralized entertainment franchise through the Mon Protocol and the upcoming MON token, an Ethereum ERC-20 token designed to incentivize NFT holders and fuel the Pixelmon games, allowing for active participation in the brand's development.

Nuvei & Cash App Partner to Transform Online Payment Experience:

• Nuvei Corporation and Cash App have entered into a strategic partnership to enhance online payment experiences by integrating Cash App Pay into Nuvei’s checkout processes in the U.S., aiming to simplify payments and attract younger consumers.

• The collaboration is designed to diversify payment options beyond traditional cards, improving payment acceptance rates, reducing costs, and accelerating revenue for businesses, as part of Nuvei’s effort to expand its portfolio of alternative payment methods.

• Nuvei's recent initiatives include a partnership with Familiprix to launch an eCommerce app for over 400 independent pharmacies in Quebec and New Brunswick, supporting their move into online sales. This partnership with Cash App further underscores Nuvei's commitment to providing versatile and user-friendly payment solutions.

Mastercard Launches GenAI Tool to Combat Fraud:

• Mastercard is launching Decision Intelligence Pro, an enhanced fraud detection solution using generative AI, to analyze over 1 trillion data points and predict transaction authenticity, aiming to significantly bolster consumer and ecosystem security.

• The advanced technology, available later this year, will rapidly evaluate relationships within transactions, boosting fraud detection by an average of 20% and up to 300% in certain cases, while markedly reducing false positives by over 85%.

• This development underscores Mastercard's commitment to leveraging cutting-edge AI to improve fraud detection accuracy, reduce false alarms, and foster trust in every transaction, according to Ajay Bhalla, president of Cyber and Intelligence at Mastercard.

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