Today in Crypto: Poloniex Partners with Mercuryo on Crypto Purchases, Hong Kong Hunting Six Scammers, DFINITY Foundation Launches ‘Twin’ Token ckBTC

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Payments news

• Crypto exchange Poloniex announced a partnership with payment infrastructure and fiat onramp provider Mercuryo. Per the press release, Poloniex’s users can now use Visa, Mastercard, and bank transfers, as well as Apple Pay and Google Pay, to buy more than 20 supported cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Tether (USDT) directly via Mercuryo through both Poloniex’s official website and app. Also, a wide range of fiat currencies are supported, like USD, EUR, GBP, and BRL, it added.

Scam news

• Hong Kong police are hunting for six crypto fraudsters who cheated a 54-year-old man out of more than $68,800 in an online romance scam, the South China Morning Post reported. One of the swindlers claimed to be a female cryptocurrency investment expert, developing a relationship with the man through WhatsApp in January. The police classified the case as “obtaining property by deception,” which is an offence punishable by up to 10 years in jail. No arrests have been made yet.

Investing news

• The DFINITY Foundation, a contributor to the development of the Internet Computer blockchain, announced the launch of ckBTC, describing it as “a liquid and cost-efficient “twin” token that is 1:1 cryptographically secured by Bitcoin [which] brings layer-2 capabilities to Bitcoin, making it faster and cheaper to transact without compromising security.” Unlike wrapped tokens, controlled by a centralized entity, ckBTC uses canisters (smart contracts for asset transfers) and does not require intermediaries. With this integration, Bitcoin transactions can be executed 100% on chain, making it easier to incorporate Bitcoin into DeFi and Web3 services without relying on centralized bridging services, it added.
• Trading platform for digital securities and cryptocurrencies INX said that it is the “first to convert traditional stock shares of public company to fully-regulated tokenized shares.” Per the press release, in partnership with Greenbriar Capital Corp., a developer of sustainable real estate and renewable energy, INX will facilitate and list the GEBRF traditional shares as regulated tokenized shares of a publicly traded company. “Through this landmark collaboration, traditional stock certificates of Greenbriar Capital will now be able to be represented in a digital format and move seamlessly back and forth between traditional exchanges, like OTC and TSXV, and a digital Alternative Trading System (ATS) like INX,” it added.

DeFi news

• Decentralized exchange (DEX) PancakeSwap introduced Version 3 (V3) on Ethereum and BNB Chain on Monday. V3 introduced features to improve the platform’s capital efficiency, including allowing liquidity providers to concentrate their capital on smaller price ranges, multiple news outlets reported, citing the developers.

Regulation news

• Japan’s Financial Services Agency (FSA) said that foreign crypto exchanges Bybit, BitForex, MEXC Global, and Bitget are operating in the country without proper registration, according to a notice. The regulator said that the exchanges violated the country’s fund settlement laws by “conducting crypto asset exchange business without registration,” as well as that the list of unregistered traders “does not necessarily indicate the current state of unregistered business.”

Market news

• Crypto exchange Coinbase said that Bitcoin outperformed other digital assets since the middle of February, with its dominance as a percentage of total crypto market capitalization increasing to 47.7% from 43.9% during March, CoinDesk reported, citing a Coinbase research report. The BTC outperformance accelerated early in the month, coinciding with the onset of the US banking system turmoil, the report said. “Part of the reason is that the stress in the banking system reinforced bitcoin’s store-of-value properties,” as well as that “it offers a hedge against current conditions.”

Exchange news

• OKX announced ‘Train Like Dias’, described as its first ‘OKX Collective’ immersive metaverse fan experience featuring OKX ambassador and Manchester City player Rúben Dias. The OKX Collective allows fans to participate in Web3 and gain access to special content from Manchester City players Alex Greenwood, Ilkay Gündoğan, Jack Grealish, and Rúben Dias, the press release added.