EU Launches 'Europeum' Blockchain Project

Hi NoRamp Community,

Daily News:

1) EU Launches 'Europeum' Blockchain Project

2) Gate.io Affiliate Withdraws License Application in Hong Kong

3) Stepn Go App Lets Users Share Digital Sneakers And Split Earnings

4) Vitesse Raises $93M Series C Funding to Fuel US Expansion

5) Majority’s Migrant Banking Platform Secures $20M Funding Boost

EU Launches 'Europeum' Blockchain Project:

• The European Union launched a new organization to create blockchain infrastructure, aiming to enhance record-keeping and data transfer across its 27 member states. This initiative, dubbed "Europeum," was introduced during a telecommunications ministers' meeting in Brussels and is part of the EU's broader effort to reduce reliance on US technology.

• Europeum will impact individuals and businesses by allowing citizens to trace product origins and enabling companies to protect intellectual property on immutable blockchain networks. Ten member states, including Italy, Poland, and Greece, have agreed to operate and roll out the blockchain, with more expected to join.

• The project, under construction since 2017, is now part of the European Digital Infrastructure Consortium supported by the European Commission. Europeum aims to automate legal and bureaucratic processes with smart contracts and support metaverse applications and the European Central Bank's digital euro, ensuring security, privacy, and interoperability in digital identities, wallets, credentials, and licenses.

Gate.io Affiliate Withdraws License Application in Hong Kong:

• Gate.HK, the Hong Kong entity of crypto exchange Gate.io, is shutting down operations and has withdrawn its application for a crypto trading platform license. The company urged users to withdraw their assets by August 28 and announced an immediate halt to new user registration and deposits, planning to delist all tokens by May 28.

• Launched in May 2023, Gate.HK had submitted its virtual asset trading platform application to the Hong Kong Securities and Futures Commission (SFC) in February 2024 but withdrew it on May 22. The SFC requires platforms that fail to submit applications by February 29 to close by May 31 or within three months of notification.

• Several global exchanges, including OKX, Bybit, Bullish, and Crypto.com, are currently having their applications reviewed by the SFC. Other platforms, such as HKVAEX and Huobi HK, have also withdrawn their license applications, adding uncertainty to their operations in Hong Kong. Gate.HK plans to overhaul its platform and aims to resume business in Hong Kong in the future after obtaining relevant licenses.

  

  Source: Cointelegraph

Stepn Go App Lets Users Share Digital Sneakers And Split Earnings:

• Stepn, a major move-to-earn game on the Solana blockchain, is launching Stepn Go, a new social lifestyle app that rewards daily movement and social interactions. Users can share digital sneakers with friends, split earnings, and use social features like adding friends, messaging, and avatars to earn GMT rewards.

• Stepn Go introduces a new token, the Go Game Token (GGT), which can be earned by walking, jogging, and running with digital sneakers, similar to Stepn's utility token, Green Satoshi Token (GST). FSL, the studio behind Stepn, also released the Stepn Go white paper.

• The original Stepn app, launched in 2021, is a leading move-to-earn game and a pioneer in gamified Web3 fitness applications. Stepn operates a dual token system with GST as the utility token and Green Metaverse Token (GMT) as the governance token. The Stepn community has long requested social features, and the app’s popularity has been bolstered by recent partnerships, including a collaboration with Adidas and an airdrop of 100 million FSL points to core players.

Vitesse Raises $93M Series C Funding to Fuel US Expansion:

• UK-based payments fintech Vitesse raised $93 million in a Series C funding round led by US investment firm KKR through its Next Generation Technology Growth Fund III. Patrick Devine, KKR’s managing director, will join Vitesse’s board of directors. The round also included participation from Hannover Digital Investments and other existing investors.

• Founded in 2014, Vitesse provides treasury and payment solutions for the insurance industry and has facilitated over $10 billion in payouts. The company plans to use the new funding to expand into the US market and enhance its product development, focusing on expanding its payments network and insurance value chain connectivity.

• To support its US expansion, Vitesse appointed Curt Hess as its new US executive president. Hess, formerly the chief of 10x Banking, brings over 15 years of banking and fintech experience, including roles as CEO of Barclays’ US consumer bank and SVP at Citi.

Majority’s Migrant Banking Platform Secures $20M Funding Boost:

• Majority, a platform providing mobile banking and international services to migrants in the US, raised $20 million in a funding round led by prominent FinTech founders, including Victor Jacobsson of Klarna and Hjalmar Winbladh. The round included $12.5 million in equity and $7.5 million in debt financing from a major bank, with participation from Valar Ventures, Heartcore Capital, and Avid Ventures.

• Founded to empower migrants with tailored financial services such as mobile banking and international money transfers, Majority will use the new funds to enhance its offerings and support its expansion. The company also appointed Abhi Pabba as Chief Risk Officer to aid in product development.

• CEO Magnus Larsson emphasized the company's commitment to addressing the financial challenges faced by migrants, highlighting the importance of providing access to financial products and resources. Despite challenges in the startup industry, Majority has raised over $90 million in equity funding and continues to surpass growth expectations, positioning itself as a key player in the FinTech landscape. Investor Hjalmar Winbladh praised Majority's consistent performance and precision in execution, underscoring its impact in the industry.

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