By Luke F - Crypto Investor
A crypto-asset-backed stablecoin platform, Kokoa Finance has successfully raised $2.3 million in a funding round led by Hashed. This was not the only company that led the fundraising round; the funding was also led by a41 Ventures, Sky Vision Capital, and a few angel investors.
It's reported that the funds will be used to build Klaytn DeFi. Klaytn is a business-orientated blockchain network; it offers multiple quality services for all users, mainly enterprises. As of now the network hosts over 50 blockchain applications. Klatyn was established by KakaoTalk back in 2019, ever since, the platform has gained tremendous popularity after KakaoTalk partnered with Klip wallet. After Korea accepted the blockchain network, the platform's valuation grew to over $4 billion.
Even though the blockchain project has seen great success, ecosystems like Den have grown immensely and attracted users for initiatives like Kokoa Finance. Kokoa Finance is currently building a stablecoin system, the Kokoa Stable Dollar (KSD). Kokoa Finance is a stablecoin platform on the Klaytn network; anyone can borrow its native stablecoin KSD without paying interest. Many newcomers to the cryptocurrency trading world often begin investing in stablecoins as a safe crypto investment. Reportedly, the KSD stablecoin will be architecturally similar to the DAI system on the Ethereum (ETH) network. You can Buy Ethereum on our platform here.
Alongside interest-free borrowing of KSD, MakerDAO borrowers will also no longer be made to pay any interest, providing that they use Kokoa's collateralised vault model. The Kokoa Collateralised Debt Positions can help to produce yield for Klaytn; this means that assets within this system will have a low-risk return and increased capital efficiency.
If you are looking to Buy Tether (USDT) or trade Ethereum, then you can head over to BC Bitcoin where you can register and safely buy stablecoins today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards