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Iran Confirms Its First Cryptocurrency-Based Import Order

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Iran Confirms Its First Cryptocurrency-Based Import Order
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  • Iran Imports goods worth $10 Million in Cryptocurrency.
  • Smart contracts and digital assets will be widely utilized in international trade.

According to recent reports, the Middle East country, Iran placed its first import order using cryptocurrencies, which includes products worth $10 million. Iran’s Ministry of Industry, Mine, and Trade granted the first formal order for importing goods into the nation by utilizing digital assets transactions. 

Deputy Minister, Alireza Peymanpak tweeted:

This week, the first official import order registration worth 10 million dollars was completed using cryptocurrency. By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries.

Iran Welcomes Crypto

For more than a year, Iran has been debating whether to allow the use of cryptocurrency to pay for imports. In the previous year, the Central Bank of Iran (CBI) stated that banks and authorized currency exchangers could use cryptocurrencies extracted in Iran by authorized crypto miners to pay for imports.

Additionally, In 2019, the Iranian government authorized cryptocurrency mining as an industry. The government also granted nearly a thousand licenses for Bitcoin mining operations in January 2020.

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Uniswap Striving for $100-$200M Funding at $1B Valuation

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Uniswap Community Votes In Favor Of Uniswap Foundation
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  • Uniswap (v3) has 45.2% of the market share in terms of the trading volume.
  • The native token UNI of the platform has recently outperformed the market.

Each company has taken its own unique approach to reach its ultimate objective, which may include anything from introducing new goods to raising capital or expanding into new markets. This new step is part of Uniswap’s master aim to consolidate even more power. TechCrunch claims Uniswap Labs is in the “early stages” of organizing a fresh fundraising round.

The company is apparently in talks with a number of investors, including Polychain and one of Singapore’s sovereign funds, in an effort to raise an equity round of $100 million to $200 million at a valuation of roughly $1 billion.

Plans to Increase Dominance

TechCrunch quotes unidentified sources as saying that the round’s negotiations had not yet reached a final level. Thus, the agreement’s future provisions are subject to change.

Uniswap Labs, backed by Andreessen Horowitz, closed an $11 million Series A fundraising round in August 2020. USV, Paradigm, Version One, Variant, Parafi Capital, SV Angel, and A.Capital all contributed as well.

Furthermore, Uniswap is very dominant in the DEX market. According to CoinGecko’s statistics, Uniswap (v3) has 45.2% of the market share in terms of trading volume, followed by Curve (Ethereum), PancakeSwap (v2), and DODO.

Actually, 5.2%, 2.8%, and 2.6% of all trading volume on decentralized exchanges occurs on Uniswap on Polygon, Optimism, and Arbitrum, respectively.

In a few cases, the volume settled on Uniswap has been comparable to the data provided by the centralized exchange Coinbase. Actually, they were both in the lead at the same time earlier in the month. Moreover, the native token UNI of the platform has recently outperformed the market. This occurred at the same time when the TVL of the DeFi market fell below $100 billion.

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MicroStrategy Recruiting for BTC Lightning Network Engineer

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Microstrategy Adds 301 Bitcoin (Btc) Worth Around $6 Million
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