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Cryptocurrency exchange to sponsor India Tour of Sri Lanka Cricket Series

The cryptocurrency & blockchain industry is expanding in Asia at a rapid pace. The game of Cricket has always known to attract various well known brands as title sponsors of tournaments.

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The cryptocurrency & blockchain industry is expanding in Asia at a rapid pace. The game of Cricket has always known to attract various well known brands as title sponsors of tournaments.

The T20 sponsorship by a new age fintech startup shows a progressive phase in the Indian economy. The T20i India Vs Sri Lanka series will be known as the CoinDCX T20i Cup and is scheduled in Sri Lanka on 21 July 2021. It is part of the Indian team’s tour to Sri Lanka and will feature three One Day Internationals (ODIs).Shikhar Dhawan will be leading the Indian National Team and will showcase some of the most promising talent which was s seen during the recent IPL.

The title sponsorship is creating a stir in the world of Indian cricket and is a major push by CoinDCX towards generating awareness and increasing brand recall amongst the younger fans of the sport. CoinDCX a pioneer in the Indian crypto space is one of the most trusted and well known crypto assets exchanges. Crypto currency has been recognized as an asset has by the younger generation and this sponsorship gives CoinDCX an opportunity to tap into potential investors.

CEO & Co-founder of CoinDCX  Mr.Sumit Gupta said,

“Cricket in India is not just a sport; it’s a religion. So naturally, we are very excited to become the Title Sponsor of the T20 Cup. Cricket – particularly the T20 format- offers excellent synergy for our brand as we aim to reach out to more users through this association. Being the country’s largest and safest crypto currency exchange, we aim at accomplishing new heights just as the Indian Cricket Team.”

The Chief Executive Officer of Sri Lanka Cricket Mr. Ashley De Silva said,

“It’s a buoyant time for Sri Lanka cricket as we welcomed the Indian team for an exciting series, which is going to be competitive as well.I take this opportunity to thank CoinDCX for its association with this important series.’’

The India Tour of Sri Lanka series will be broadcasted on television from the 13th of July in Sri Lanka on “Siyatha TV” of Voice of Asia Network ( Pvt) Ltd – The Largest Media Network in Sri Lanka.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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