Tokenizing real - world assets
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ByBit Expanding Beyond Crypto With Banking Services
PYMNTS.com· 2026-01-29 13:42
Core Insights - ByBit is planning to expand its services to include banking, allowing users to hold balances in U.S. dollars and other fiat currencies through "MyBank" accounts, which will feature an International Bank Account Number (IBAN) for multi-currency transfers [2][3] - The company aims to position itself similarly to neobanks like Revolut and Robinhood, which have integrated crypto offerings into their banking services [3] - ByBit has over 81 million customers and operates in more than 200 markets, with partnerships with nearly 2,000 banks, providing it a competitive edge in the market [3] Banking Services - The new banking services are expected to launch next month, pending regulatory approvals, and will allow customers to transfer 18 different currencies [2] - ByBit's CEO highlighted that users will have the option to convert fiat currency into cryptocurrency upon arrival [3] Institutional Products - The company plans to introduce a custody product aimed at institutional investors, focusing on tokenizing real-world assets, but will not enter the prediction market due to compliance challenges [4] Security and Compliance - ByBit experienced a significant security breach last year, resulting in the theft of $1.5 billion, which led the company to borrow funds to compensate affected customers [4] - The company is entering the banking sector amid a broader trend of integrating digital assets into traditional banking systems, indicating a shift in the financial landscape [5]
AgriFORCE Growing Systems (AGRI) Announces Completion of PIPE Financing, Becomes the First Publicly-Traded Avalanche-Focused Company on Nasdaq
Prnewswire· 2025-11-05 21:30
Core Insights - AgriFORCE Growing Systems Ltd. has successfully closed its PIPE Financing, becoming the first publicly-traded company focused on the Avalanche blockchain ecosystem [1][3] - The transaction, initially announced on September 22, 2025, represents a significant milestone in the company's transformation into an institutional-grade vehicle for investors [2][3] - The company aims to provide public market investors with regulated access to the Avalanche ecosystem, enhancing its position in digital financial innovation [3] Company Strategy - The company plans to build a significant position in AVAX tokens through its PIPE financing and additional capital initiatives, including an at-the-market program [5] - AgriFORCE will be renamed AVAX One, focusing on maximizing AVAX per-share accretion for shareholders through a disciplined approach to digital asset treasury [7] - The company is advised by veterans from institutional finance and the digital asset industry, positioning itself as a premier gateway for public market investors [7] Avalanche Blockchain - Avalanche is a high-speed, institutional-grade blockchain that serves as a foundational digital settlement layer for future finance [4] - The technology is utilized by major financial institutions like KKR, Apollo, and J.P. Morgan Chase for tokenizing real-world assets [4] - The network is secured by over $6.9 billion in staked assets, indicating strong institutional backing [4]