Ant Group Partners With Malaysian Investment Bank Launch Crypto SuperApp
Daily Market Wrap
Crypto market cap: 1.04 trillion, up 1.20%
BTC price stands at USD 21,535, up 1.02%
ETH price stands at USD 1,674, up 2.82%
Top gainer:Ankr (ANKR), up 12.69%
Top loser: XDC Network (XDC), down 3.29%
News of the Day
China’s Ant Group has partnered the Malaysian investment bank, Kenanga Investment Bank Berhad, to launch a crypto superapp.
Why it matters:
Chinese technology company Ant Group is working with Kenanga Investment Bank Berhad, one of the largest private investment banks with more than 500,000 customers, on Malaysia’s first superapp
According to an announcement on Wednesday, Kenanga and Ant signed a memorandum of understanding to work together to create Malaysia’s premier app for wealth management
“Our financial-grade mPaaS mobile development platform is well-positioned to support Kenanga in integrating a wide range of products and services into its SuperApp,” Ant’s digital tech president Geoff Jiang said
Crypto Daily Spotlight
Brief introduction: Uniswap is a decentralised exchange protocol built on the Ethereum blockchain. More specifically, Uniswap is an automated liquidity protocol. Traders can exchange Ethereum tokens on Uniswap without trusting a single actor with their funds and can lend their crypto through liquidity pools. By lending their crypto to liquidity pools, token-holders can earn fees. Uniswap’s native token, UNI, provides governance rights to owners that can vote on changes to the protocol.
Why it matters:
Uniswap’s Head of NFT Product, Scott Lewis, tweeted on Wednesday saying they are in talks with multiple non-fungible token (NFT) lending protocols
In 2019, Uniswap launched Unisocks, which was the first rendition of NFT liquidity pools
In June, the company introduced its acquisition of Genie, the first NFT marketplace aggregator, which lets anyone discover and trade NFTs across a large number of platforms
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