At this stage of the Web3 market, the leading industry player, Transak, has been making headlines with its accomplishment of business profitability, which is a prerequisite for any potential IPO. The company, by publishing its first quarterly profit, surpassed $1 billion in lifetime gross transaction volume (GTV), to be precise, on the 31st of March this year.
However, what is Transak really but a simplified form of the internet currency? The Transak platform was started in 2019 and serves as a link to help build a connection between traditional finance and digital assets. Basically, they developed a trading platform that is utilized to exchange crypto and NFTs (non fungible tokens) among users in more than 160 countries.
Being profit-oriented means strategic investments in tech, being compliant with rules and regulations, expansion to reach more markets, and risk assessment have taken priority. Transak’s “$1 billion in lifetime GTV” proves that Web3 is more substantial than some people make it to be by undermining the myth of the users and revenue touches of the industry.
Strong cooperation with Visa, IMX, and visibility among the top 20 fintech companies by CB Insights, continue to be the identity components of the company’s rapid growth. As a further advantage, the domain traffic of competing platforms is second to ours, which highlights the good look of our platform and the degree of trust the platform has gradually earned from its growing user base.
The next outlook for Transak, highlighting its profitability, compliments a potential IPO. Founder Sami Start is working towards relisting on a US exchange, which is expected to happen within the next 3–5 years. He argued that eating what one catches is the end goal, versus having financial targets.
In her words, Start underlined the changing face of the NFTs scene: from hype to practical use for “web3” video games and future online shops. Transak’s NFT Checkout solution, which meets divergent use cases like Immutable and Decentraworld, is open to various web3 applications, thereby making it a preferred choice.
In conclusion, Transak‘s journey to producing profit and taking the possibility of IPO manifests the reality that the impact of Web3 technologies is deeply rooted in the revolution of our payments and digital asset transactions through the network.
Looking to Invest in AI Sports? LLT Token Lands on Gate.io
LILLIUS, a platform centered around AI sports challenges, has exciting news to share- after a few days, the token LLT will enable the purchasing process on Gate.io, the well-known crypto exchange across the globe. The commencement of the process will be on April 26th, and then it will offer the exchange access to the LLT tokens.
LILLIUS asserts its outstanding software abilities to analyze the users’ behavior in real time. Thus, they can provide tailored feedback, for example, by practicing good posture during a golf stroke or rating how well the aerobic performance was. In addition, the LILLIUS application is friendly with blockchain technology to encourage users’ sports activities and motivate them with their achievement points. They can exchange with LILTI NFTs (non-fungible tokens) to buy sports gear, participate in raffles in the sports store, and join group challenges around the world, where they can even form global sports guilds.
By listing LLLT on Gate.io, Merlin plans to have a wider reach internationally and strengthen its strength in the web3 game market. A LILLIUS representative stated proudly that they marked this achievement, as it reflects the quality of their project, draws new members to their ecosystem, and, what’s more, increases demand for LLT tokens.
Gate.io is one such exchange that was established as early as 2013 and is credited with supplying reliable and secure cryptocurrency services. Gate.io, with its sizable number of users from all over the world and over 1,700 existing cryptocurrency pairs available for trading, is the place to be for every cryptocurrency investor. Transparency is one of Gate.io’s core values, and they have shown that by being one of the first exchanges to provide Proof of Reserves audits. This has undoubtedly made them a top dog in the business.
The listing of LLT Gate.io gives LLILIUS and users new opportunities concerning the direction. It is a step that they take towards the revolution of the sports sector with the use of technology and blockchain integration, in such a way that taking a good sport makes more than just being healthy, but also enjoyable and custodial.
Will the Entire US Budget Be on Blockchain? RFK Jr. Says So
Robert F. Kennedy Jr. proposed a bold idea- to carry out the whole budget of the USA into the blockchain. He lends support to such an argument by leading us to believe that this would eventually eradicate infidelity and unethical activities in the government because of the public’s ability to cross-check every transaction.
Although the idea appears to be good at first glance, the practice of implementation seems to be a complicated task. Nowadays, the expenditure of federal funds is organized by the regulations of the acts of legislation and is subject to the audits of government agencies. Nevertheless, Campinas (2017) is convinced that blockchain can add a new dimension to systems monitoring.
Kennedy plans to make the proposed budget open on the blockchain. And this will result in over 300 million eyeballs reviewing the budget details. Now he believes that this would avoid catastrophe like the mysterious question of a $640 toilet seat.
Already excited by the issues of budget transparency, he stumbled upon digital assets. He ends up saying that he has not accepted campaign donations in Bitcoin and that he is interested in financing the US dollar with Bitcoin if he is elected president. Kennedy came out in support of cryptocurrency issues while also being against the plans of a central bank to create a digital currency, which is also the Republicans’ stand.
Kennedy’s stance in favor of cryptocurrency has been lauded by organizations like Stand With Crypto that rate him as a “strong proponent” of digital coins. In comparison, Biden, based on a similar rating scale, is designated as “against” cryptos, though he did issue an executive order in 2022 that puts forward plans for the safe development of digital assets.
With his campaign and support for the doctrine of blockchain transparency as well as cryptocurrency regulation on the scene, Kennedy removed himself from the already well-known faces and boldly campaigned for the presidency.
Check who got the $$ Spotlight $$ today!
- Web3 Gaming Guild GuildFi Rebrands to Zentry, Raises $140 Million. read more
- Galaxy, Lightspeed Lead $15M Raise for Turnkey, Crypto Wallet Startup From Former Coinbase Employees. read more
- Dragonfly Leads $6.5M Round for Movie Production Company. read more
- Prime Intellect Secures $5.5 Million in Seed Funding to Build Decentralized and Collaborative AI Ecosystem. read more
