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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


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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