Worldcoin Launches Orb Locations in Singapore

Hi NoRamp Community,

Daily News:

1) Indonesia to Require Exchanges to Register with Digital Asset Bourse

2) HKbitEX Collaborates with Shanghai Technology Exchange

3) Worldcoin Launches Orb Locations in Singapore

4) Intermex and Visa Join Forces to Revolutionize Money Transfers Globally

5) Digital Identity RegTech Yoti’s Strategic Funding Boost

Indonesia to Require Exchanges to Register with Digital Asset Bourse:

• The Indonesian government mandates all cryptocurrency exchanges to register with the Commodity Future Exchange (CFX), the world's first national bourse for digital assets, to ensure a safer investment environment and facilitate transaction tracking for taxation.

• Exchanges operating since 2014 as "prospective crypto exchanges" must undergo a thorough authorization process with the CFX and Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) to continue operations, with a registration deadline set for August 17, 2024.

• The regulatory landscape is set to evolve further in 2025 with oversight shifting to Indonesia's Financial Services Authority (OJK), potentially reclassifying cryptocurrencies as securities and impacting taxation, amid broader national efforts to embrace digital innovation and leadership.

HKbitEX Collaborates with Shanghai Technology Exchange:

• HKbitEX partners with Shanghai Technology Exchange to develop real-world asset (RWA) tokenization solutions for tech companies, supported by China's Ministry of Science and Technology and the Shanghai municipal government.

• The strategic collaboration, marking the 20th anniversary of the Shanghai-Hong Kong cooperation mechanism, aims to create an efficient and transparent platform for financial solutions, addressing financing challenges faced by tech companies through asset tokenization.

• This initiative is part of broader efforts to foster high-quality economic development in China, leveraging blockchain technology to enhance city governance and public services, and establishing a cross-chain exchange hub node in Shanghai's Lingang Special Area, with potential future collaborations with Hong Kong and Singapore.

Worldcoin Launches Orb Locations in Singapore:

• Worldcoin, co-created by OpenAI CEO Sam Altman, expands its "proof of personhood" services to Singapore and various locations globally, utilizing the Orb for iris recognition.

• The crypto project announces World ID 2.0, enhancing the protocol with new features, despite pausing services in India, France, and Brazil to develop safer processes.

• Amidst broad adoption and plans for relaunch in India in 2024, Worldcoin faces regulatory scrutiny and criticism over biometric data collection, emphasizing the need for compliant and ethical expansion.

Intermex & Visa Join Forces to Revolutionize Money Transfers:

• International Money Express (Intermex) partners with Visa to enhance digital money transfers to over 60 countries, particularly targeting Visa cardholders and bank accounts in over 20 new regions including Asia, Africa, Europe, and the Caribbean.

• The partnership focuses on integrating Visa Direct into Intermex's platform, utilizing Visa's global network for efficient and expansive fund delivery to cards, bank accounts, and wallets worldwide.

• This collaboration aims to bolster Intermex's omnichannel strategy, offering more choices and flexibility for migrant workers in the U.S. sending funds abroad, while emphasizing reliable, efficient, and convenient money transfer services.

Digital Identity RegTech Yoti’s Strategic Funding Boost:

• UK-based digital identity company Yoti secures £20m in its latest funding round, with £12.5m debt funding from HSBC and £7.5m convertible debt from existing shareholders, bringing total funding to over £166m.

• Yoti, known for its advanced identity verification and authentication technologies, aims to use the new funds to bolster growth, profitability, and expand its technological capabilities and market presence.

• The company, with clients like Meta, Sony Playstation, and Aldi, has seen rapid revenue growth and aims to continue innovating in the digital identity space, with leaders expressing confidence in reaching profitability and making significant improvements in digital security and trust.

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