Crypto Weekly Focus: OKX Steps into UAE, Uniswap Layer-2 Launch, and Ronin Secures Cross-Chain Bridges
In Brief
OKX has launched its crypto trading platform in the UAE after securing a full license, targeting both retail traders and institutional investors. Meanwhile, Uniswap has introduced Unichain, a layer-2 blockchain that promises faster transactions and improved liquidity, and Ronin has partnered with Chainlink to enhance the security of its cross-chain bridge.
OKX Sets Its Sights on UAE with Full Crypto License, Aims at Retail and Institutional Markets
OKX just rolled out its crypto trading platform in the UAE after locking down a full license. With the region’s crypto scene heating up, OKX is stepping in strong, offering features that cater to casual traders and big institutional players alike.
For everyday users, OKX makes it super simple. You can dive into spot trading, buy or sell crypto fast, and handle conversions with ease. Plus, it platform lets you deposit and withdraw AED (dirhams) directly through local banks – no hassle, just smooth trading.
For the pros out there, OKX’s got you. Institutional investors can tap into advanced derivatives trading, but you’ve gotta meet some high standards – think passing tests and holding a solid 500,000 dirhams in liquid assets. Bigger institutions face even tougher benchmarks, but the payoff is a secure and compliant trading experience.
Why the UAE is the Place to Be
The UAE is quickly becoming a crypto powerhouse, and OKX is jumping in at the right time. As Rifad Mahasneh, OKX’s MENA General Manager puts it: with its clear regulations, the UAE is the perfect spot for long-term crypto growth.
OKX’s launch in the UAE is a big deal. It’s opening up fresh opportunities for both retail traders and big-time investors, making the region a key player in the global crypto game.
Uniswap Launches Layer-2 “Unichain”
Uniswap, the heavyweight in decentralized exchanges, just hit a new gear with the launch of Unichain, its very own layer-2 blockchain. Announced by Uniswap Labs on October 10, this beast is still in test mode but is already primed to supercharge transaction speeds and slash costs while making cross-chain connections smoother than ever.
“Unichain blends the lightning-fast performance of layer-2 with boosted liquidity across multiple blockchains and next-level decentralization,” says Hayden Adams, CEO of Uniswap Labs.
With Uniswap already managing close to $5 billion in total value locked (TVL) across 25 blockchains, Unichain is the next logical step in its evolution. Tapped into Optimism’s Superchain, Unichain is gearing up to play nice with other layer-2 networks like Coinbase’s Base and Synthetix’s SNAXchain. It’s rolling with 1-second block times for now, but plans are in place to crank that down to an insane 250 milliseconds.
These near-instant transactions are set to redefine the trading experience, giving users access to liquidity from other layer-2 networks within Optimism’s ecosystem. With Base and Optimism alone holding a hefty $2.875 billion in TVL, Uniswap is ready to dive headfirst into this liquidity pool.
And that’s not all. Uniswap Labs is cooking up even more with Across as they work on a new cross-chain messaging standard for Ethereum (ERC 7683), aiming to make communication between layer-2 networks a breeze. Add in Rollup Boost from Flashbots – offering ultra-fast block times and defense against MEV (maximum extractable value)shenanigans—and you’ve got a layer-2 network that’s ready to dominate.
Ronin Integrates Chainlink CCIP
Ronin, the blockchain powering Web3 gaming, has teamed up with Chainlink to integrate its Cross-Chain Interoperability Protocol (CCIP) and secure its cross-chain bridge. The move is aimed at boosting security and freeing up resources to fast-track the adoption of the Ronin network.
Announced on Oct. 10, the Chainlink CCIP will serve as the backbone of Ronin’s cross-chain infrastructure. The protocol, powered by decentralized Oracle networks, enables seamless and secure message transfers, such as transactions, across different blockchains.
After a three-phase evaluation process, Ronin selected Chainlink’s battle-tested CCIP for its network. Jeff Zirlin, co-founder of Sky Mavis, praised the integration, saying, “Chainlink is the backbone of the biggest DeFi platforms, and their support will make Ronin even more secure.” Johann Eid from Chainlink Labs added, “We’re thrilled to see Ronin adopt CCIP, enhancing the security of its official bridge.”
Ronin users don’t need to take any action – token migration will happen automatically behind the scenes, starting with transfers between Ethereum and Ronin, with the entire process set to wrap up within a few months.
This integration is a key step in strengthening Ronin’s security, especially after the high-profile 2022 hack that saw over $600 million stolen. With efforts to recover funds and bolster security, Ronin is doubling down on ensuring a safer ecosystem for its users.
Polygon Partners with Mastercard to Launch Web3 Music Accelerator
In a game-changing collaboration, Polygon has teamed up with Mastercard to launch a Web3 Music Accelerator aimed at revolutionizing the music industry through blockchain technology. This partnership is designed to help emerging artists build their brand in the Web3 space while tapping into NFTs, decentralized ownership, and digital collectibles. Artists participating in the program will receive exclusive access to tools, mentorship, and a network of industry experts.
The partnership leverages Polygon’s low-cost, high-speed blockchain infrastructure to help Mastercard craft new business models that benefit creators in ways traditional platforms can’t match. Sandeep Nailwal, the co-founder of Polygon, said, “This partnership takes us a step closer to our goal of bringing decentralized technologies to mainstream audiences while solving real-world problems.”
Mastercard has been doubling down on its presence in the blockchain ecosystem, and this partnership with Polygon represents a key move in their strategy to integrate Web3 into everyday life.
Fetch.ai and Imperial College Launch AI Lab
Fetch.ai is teaming up with Imperial College London’s I-X Hub to launch a cutting-edge AI Innovation Lab. The lab is set to push the boundaries of AI, machine learning, and autonomous systems, bringing together top minds from academia, industry, and government.
Fetch.ai is also throwing $10 million into a fund aimed at helping AI-driven startups scale up fast. The goal is to speed up the launch of AI-powered solutions in areas like manufacturing, mobility, and travel.
According to Fetch.ai’s Chief Development Officer, this partnership is all about turning big ideas into real-world AI applications while keeping a close eye on the ethical and regulatory hurdles in the rapidly expanding AI landscape.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
