Sushi Partners With Layer N to Launch Derivatives Exchange

Hi NoRamp Community,

Daily News:

1) Aptos Implements Password-less Passkey Authentication for Transactions

2) Sushi Partners With Layer N to Launch Derivatives Exchange

3) Indonesia Picks Crypto-Friendly Team in Presidential Election

4) Nukkleus to Acquire Mercury Global to Enhance Cross-Border Payments

5) Tradeshift Taps FinTech Veteran Iain Balchin as New CFO

Aptos Implements Password-less Passkey Auth For Transactions:

• Aptos Labs introduces passkeys for its Layer 1 blockchain network, allowing users to sign transactions without setting up passwords, enhancing ease of use and security.

• Passkeys enable users to store their private key directly on their device and sync it with backup providers like iCloud or Google Password Manager, eliminating the need for traditional password-encrypted private keys.

• The passkey authenticator, built in-house by Aptos and based on the WebAuthn standard and public-key cryptography, is open-sourced and currently implemented only for the Aptos ecosystem, with potential for broader adoption.

Sushi Partners With Layer N to Launch Derivatives Exchange:

• Sushi plans to launch Susa, a high-speed derivatives exchange, using Layer N's scaling technology, aiming to process over 100,000 transactions per second with milliseconds of latency to compete with centralized exchanges.

• The partnership leverages Layer N's Nord Engine and modular approach to rollups, enhancing capital efficiency and liquidity while maintaining security through Ethereum, aligning with the modular network strategy in the defi space.

• Susa, set to debut as a Rollup Node on Layer N's Statenet in the first half of the year, will offer a range of trading options and allow developers to create bespoke applications, aiming to set new benchmarks for decentralized exchange platforms.

Indonesia Picks Crypto-Friendly Team in Presidential Election:

• Prabowo Subianto and his pro-crypto running mate, Gibran Rakabuming Raka, have claimed victory in Indonesia's presidential election with nearly 60% of votes in Quick Counts, which typically reflect the accurate outcome.

• Their win suggests a continuation of Indonesia's crypto-friendly policies initiated by the incumbent president, Joko Widodo, with an emphasis on leveraging local interest in crypto to support the economy.

• The duo plans to tighten tax compliance supervision among stock and crypto traders and support the creation of young blockchain and cryptocurrency experts, potentially leading to more crypto-friendly regulations.

Nukkleus Acquiring Mercury Global - Enhance Cross-Border Payments:

• FinTech company Nukkleus has signed a term sheet to acquire cross-border payments firm Mercury Global, marking an expansion in the cross-border payments sector.

• The acquisition aims to strengthen Nukkleus' market position and enhance its service offerings, with the transaction being subject to regulatory approval and the purchase price to be settled in a combination of Nukkleus common stock and cash.

• This move follows Nukkleus' recent partnership with Tantel Group to expand its presence in Africa and tap into the continent's $1.5 trillion B2B payments market, combining technology and local expertise to enhance payment infrastructure.

Tradeshift Taps FinTech Veteran Iain Balchin as New CFO:

• B2B eCommerce and FinTech platform Tradeshift has appointed Iain Balchin as its new CFO, who brings experience from various FinTech firms and a successful track record in fundraising and financial restructuring.

• Balchin aims to expand monetization across the Tradeshift network through embedded financial services and marketplace commerce capabilities, leveraging the platform's global user base of over a million businesses.

• Tradeshift's recent joint venture with HSBC aims to develop embedded finance solutions and financial services apps, with HSBC investing $35 million in Tradeshift and joining its board, marking a significant opportunity for revenue generation and growth.

NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.