DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 361

Coinbase Rolls Out In-App DEX Trading for U.S. Users

By
Paul Ugbede Godwin
-
0

Coinbase has officially launched decentralized exchange (DEX) trading directly within its mobile app for all eligible U.S. users, excluding those in New York State due to local regulations.

This integration allows users to trade millions of on-chain assets—primarily on the Base network—moments after they launch, without needing to wait for traditional listings or switch to external wallets.

Live now for U.S. app users (ex. NY). Expansion to more networks like Solana and countries is planned soon. Trades are routed through DEX aggregators like 1inch and 0x for optimal pricing and liquidity from pools on platforms such as Uniswap and Aerodrome.

Users can fund trades with their existing Coinbase balances or USDC, retaining self-custody via the app’s built-in wallet. Coinbase covers gas fees, charging only a small, transparent trading fee.

Instant access to new Base-native tokens from projects like Virtuals AI Agents and Reserve Protocol. No asset listing delays—new tokens become tradable within hours of on-chain creation.

Bridges centralized (CEX) and decentralized (DeFi) trading, lowering barriers for retail users. This follows a limited beta in August 2025 and aligns with surging DEX volumes (up 25% in Q2 2025 to over $400B monthly, per DeFiLlama).

Coinbase’s Q2 trading volume dipped slightly to $237B, making this a strategic push toward an “everything app” for crypto. Coinbase shared the news on X: “Check your phone—the wait is over.

Explore millions of assets, moments after they launch, right from the Coinbase app. DEX trading is live for all U.S. users excluding. NY. Coming soon: more assets, more networks, more countries.” The post included a short video demoing the seamless swap interface.

Users can now trade millions of on-chain assets, including newly launched tokens, directly within the Coinbase app without needing external wallets or navigating complex DEX platforms like Uniswap. This lowers the entry barrier for retail investors exploring decentralized finance (DeFi).

Self-custody via Coinbase’s integrated wallet gives users more control over their assets compared to traditional CEX trading, aligning with DeFi’s ethos. Coinbase covering gas fees simplifies the trading process, as users only face a transparent trading fee. This could make DEX trading more cost-competitive with CEX trades for retail users.

Seamless integration with existing Coinbase balances for USDC or other assets eliminates the need to transfer funds to external wallets, improving user experience. Users can trade Base-native tokens moments after launch, offering opportunities to invest in emerging projects before they hit centralized listings.

As Coinbase’s Layer-2 solution, Base benefits from increased visibility and liquidity as millions of Coinbase users gain direct access to its ecosystem. This could drive adoption of Base-native projects and increase on-chain activity.

Per recent data, Base’s total value locked (TVL) and transaction volume could see significant growth, building on DeFi’s Q2 2025 surge to over $400B in monthly DEX volume according data from DeFiLlama.

Coinbase’s integration of DEX trading within a CEX app bridges centralized and decentralized finance, potentially accelerating mainstream DeFi adoption. This could pressure other CEXs (e.g., Binance, Kraken) to offer similar features.

It may also spur competition among DEX aggregators like 1inch, 0x and protocols like Uniswap and Aerodrome to optimize liquidity and pricing for Coinbase’s routing. Early access to new tokens could increase volatility in the DeFi space, as speculative trading on fresh assets spikes.

The move could shift some trading volume from traditional CEX markets to DEXs, especially for long-tail assets not listed on centralized platforms. By embedding DEX trading, Coinbase strengthens its push toward becoming a crypto “everything app,” combining CEX convenience with DeFi flexibility.

This could help reverse its Q2 2025 trading volume dip $237B, down slightly year-over-year. The focus on Base reinforces Coinbase’s investment in its Layer-2 network, potentially capturing more value within its ecosystem as Base grows.

While Coinbase covers gas fees, its trading fees on DEX swaps provide a new revenue stream. As trading volume grows, this could offset costs and boost profitability. The feature may attract new users and retain existing ones, increasing engagement and potential subscription uptake.

Excluding New York suggests Coinbase is navigating strict U.S. state regulations like the  BitLicense requirements. Expanding to other regions will require careful compliance, especially in jurisdictions skeptical of DeFi.

By offering self-custody and DEX access, Coinbase may mitigate some regulatory scrutiny faced by CEXs, aligning with decentralized principles while maintaining a trusted brand. Coinbase’s move could normalize DeFi for millions of retail users, driving broader adoption and potentially influencing other major CEXs to integrate DEX features.

It may accelerate development of user-friendly DeFi tools, as competitors aim to match Coinbase’s seamless experience. Base’s prominence could challenge other Layer-2 solutions for market share, especially if Coinbase expands DEX support to networks like Solana.

Users in New York miss out due to regulatory hurdles, limiting full U.S. reach. High trading volumes could strain Base or DEX aggregators, potentially causing delays or slippage during peak activity.

While self-custody empowers users, it also shifts responsibility for private key management, which could lead to losses if mishandled. Expanding DEX access globally may face pushback in regions with unclear or restrictive crypto regulations.

This move positions Coinbase as a leader in bridging CEX and DeFi, potentially reshaping retail crypto trading while amplifying Base’s role in the ecosystem.

LemFi Launches “Send Now, Pay Later” to Empower Immigrants With Flexible Remittance Credit

By
Ojukwu Emmanuel
-
0

LemFi, an international payments platform, has launched a groundbreaking financial service, “Send Now, Pay Later” (SNPL), an innovative payment solution that merges credit and remittance to help immigrants send money home even when their cash flow is tight.

The new feature allows users to leverage their LemFi credit line to make international money transfers instantly and repay later, addressing one of the most common challenges faced by immigrants worldwide.

Every year, immigrants send nearly £150 billion to their families back home. However, many face a timing mismatch between urgent financial needs and their earning cycles, forcing them to delay critical transfers or resort to costly and unregulated credit options. Traditional remittance providers typically require upfront payment, leaving little room for flexibility.

LemFi’s Send Now, Pay Later aims to close this gap by providing financial relief and flexibility for customers who are new to their host countries and may lack an established credit history.

According to Ridwan Olalere, LemFi’s Co-founder and CEO, the new service was inspired by the success of Buy Now, Pay Later (BNPL) models across the globe.

Speaking on the launch of the feature, he said,

“The rise of Buy Now, Pay Later means people across the world can buy products and stagger the payments depending on their cash flow. However, this has never been possible before with remittance, despite it being such a core part of the immigrant financial experience. With Send Now, Pay Later, we’re integrating credit directly into the remittance experience, ensuring financial support is never delayed by cash flow timing.”

Behind this innovation is LemFi’s Ensemble AI model, an intelligent credit assessment engine that combines diverse data sources from national credit bureaus and open banking data to LemFi’s own remittance insights. The system dynamically adapts to each user, offering risk-adjusted credit limits and fair repayment plans that evolve alongside the customer’s financial journey.

How Send Now, Pay Later Works

1. Activate LemFi Credit: Eligible customers receive a personalized credit line ranging from £300 to £1,000, based on their credit assessment.

2. AI-powered Assessment: The Ensemble AI model reviews users’ financial data across multiple touchpoints including remittance history, international credit records, and alternative metrics to offer equitable credit access, especially for recent immigrants.

3. Credit Visibility: Customers begin with smaller credit limits, which grow as they build their UK credit profile and demonstrate repayment reliability.

4. Send Now, Pay Later: Users can instantly send money to over 30 LemFi-supported countries, using their available credit and repaying later through flexible plans.

It is understood that access to traditional banking and credit remains a persistent challenge for immigrants. In the UK alone, an estimated five million people are considered “credit invisible,” with immigrants disproportionately affected. Studies show that 90% of immigrants report increased difficulty in accessing credit, while 13% are excluded from banking services compared to just 3% of the general population.

LemFi’s Send Now, Pay Later directly tackles these systemic barriers by introducing a more inclusive and adaptive credit model that aligns with the unique financial realities of immigrant communities. Following its UK debut, the fintech plans to roll out the SNPL service to the United States, Canada, and Europe, expanding its mission to become the world’s most trusted financial services platform for immigrants.

LemFi’s launch of the SNPL service comes after The State Bank of Pakistan (SBP), last month, approved its partnership with United Bank Limited (UBL) and other trusted and strategic partners to operate remittance services into Pakistan. Founded in 2021 by Ridwan Olalere and Rian Cochran, LemFi’s core mission is to break financial barriers and provide trusted, reliable access to comprehensive financial services for immigrant communities worldwide, empowering them to manage money seamlessly across borders.

This includes remittances, credit building, and multi-currency banking to support diaspora users in running businesses back home and achieving financial inclusion.

The company aims to become the financial services hub for immigrants globally, addressing persistent challenges like high remittance costs and limited credit access.

Stocks Tumble as Trump Threatens 100% Tariffs on Chinese Imports

By
Samuel Nwite
-
0

Chinese technology stocks trading in the United States plunged sharply on Friday after President Donald Trump threatened to impose sweeping new tariffs on Chinese imports and accused Beijing of becoming “very hostile” in its economic dealings with Washington.

The remarks reignited fears of another trade war between the world’s two largest economies and rattled markets that had been climbing earlier in the day.

Shares of major Chinese firms listed in New York were among the hardest hit. Alibaba and Baidu each dropped about 8 percent, while JD.com fell 6.6 percent and PDD Holdings slipped 5.2 percent. The iShares MSCI China ETF (MCHI), which tracks leading Chinese companies trading in the U.S., sank 5.2 percent. Even after the selloff, the ETF remains up 32 percent year-to-date, having rebounded earlier this year on signs of economic stabilization and renewed investor optimism.

Trump’s comments came in a post on Truth Social, where he revealed he no longer plans to meet Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation (APEC) summit in South Korea.

“I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump wrote. “One of the policies that we are calculating at this moment is a massive increase of tariffs on Chinese products coming into the United States of America.”

The president accused Beijing of holding the world “captive” through its control of rare earth metals, materials essential for the production of advanced technologies ranging from electric vehicles to defense equipment. Earlier this week, China tightened export controls on rare earth elements, mandating that foreign companies obtain licenses from the government to export any goods containing more than 0.1 percent of the minerals’ total value.

Trump’s warning triggered a broad selloff across U.S. markets. The Dow Jones Industrial Average fell 649 points, or 1.4 percent, while the S&P 500 dropped 2 percent and the Nasdaq Composite slid 2.7 percent. Before Trump’s statement, stocks had been rising strongly, with the Nasdaq reaching a new all-time intraday high, per CNBC.

“Friday served as a reminder of how emotion and uncertainty can drive markets,” said Mark Hackett, chief market strategist at Nationwide. “It is too early to say with confidence if the comments will trigger the next phase of the trade conflict between the U.S. and China or more negotiating in public, but investors have chosen a wait-and-see tactic.”

The renewed tension comes at a time when both countries are tightening restrictions on sensitive sectors such as technology and semiconductors. Washington has limited U.S. exports of advanced chips to China, while Beijing has responded with measures targeting American firms and curbing the export of critical materials used in chipmaking and green technologies.

“Expectations for a China trade deal just got swept off the table,” said Jeff Kilburg, founder of KKM Financial. “Profit takers are out in full force.”

The fallout extended to American technology firms with deep ties to China. Nvidia shares fell more than 2 percent, AMD dropped over 5 percent, and Tesla declined by 4 percent, as investors worried that renewed trade barriers could hit production lines, sales, and global supply chains.

“It’s not surprising to see technology-related stocks down the most today as they have significant exposure to China in both manufacturing and as a large customer,” said Art Hogan, chief market strategist at B. Riley Wealth. “Clearly, our relationship with the second largest economy in the world just got more difficult.”

The market turmoil was compounded by domestic political uncertainty as the U.S. government shutdown entered its 10th day on Friday. The Senate on Thursday failed for the seventh time to pass competing funding proposals, leaving federal agencies shuttered and negotiations between Republicans and Democrats at a standstill.

With no breakthrough in sight, Trump administration budget chief Russell Vought confirmed on social media that layoffs of federal workers “have begun.”

Friday’s declines erased the S&P 500’s gains for the week, with the benchmark now on track to lose more than 1 percent over the period. The Nasdaq and Dow Jones Industrial Average were also pacing for weekly losses of more than 1 percent and over 2 percent, respectively.

Analysts say the combination of Trump’s tariff warning, Beijing’s tightening export controls, and Washington’s ongoing political paralysis has rekindled investor fears reminiscent of the 2018–2019 trade war — a period marked by sharp market volatility, disrupted supply chains, and tit-for-tat tariff escalations.

The return of such rhetoric, analysts warn, could again test the resilience of global markets already grappling with inflation, high interest rates, and slowing growth.

Prezent Raises $30m to Accelerate AI-Powered Enterprise Presentations, Acquires Prezentium

By
Samuel Nwite
-
0

Prezent, the Los Altos-based startup developing AI-powered enterprise presentation tools, has raised $30 million in a new funding round led by Multiplier Capital, Greycroft, and Nomura Strategic Ventures, with participation from existing investors Emergent Ventures, WestWave Capital, and Alumni Ventures.

The new round brings Prezent’s total fundraising to over $74 million and pushes its valuation to $400 million.

The startup, founded by former McKinsey executive Rajat Mishra, plans to use the capital primarily for acquisitions. The company’s first move in that direction is its purchase of Prezentium, a presentation services company focused on life sciences clients. The deal effectively brings Mishra’s two ventures under one roof, as he had previously co-founded Prezentium and served as its non-operating president.

Prezent and Prezentium already had an existing partnership, with Prezentium serving as a go-to-market partner for the AI startup. Now, the acquisition gives Prezent direct access to an established enterprise customer base, enabling it to deliver its AI suite to a wider network of clients.

Mishra told TechCrunch the merger will allow Prezent to accelerate its mission of transforming business communication with AI.

“There are plenty of tools that are trying to make presentations pretty. We want to provide the best tools for business communications. Presentation is one of the frontiers in business that’s still not automated. We want to help data scientists and designers communicate effectively through automation,” he said.

The company is taking a specialized approach to AI development, training its models for industry-specific applications. It also embeds “presentation engineers” — professionals who understand both the client’s sector and Prezent’s AI systems — inside organizations to help teams adopt the platform effectively.

“The reality of AI in enterprise is that while AI can do many things, it can’t teach people how to use AI,” Mishra noted. “That is why we want to place presentation engineers in companies to help customers adopt the product faster.”

Prezent’s move reflects a broader trend in the AI industry, where startups are acquiring service-based companies to scale faster and combine technology with domain expertise. D-ID, for instance, acquired Berlin-based Simpleshow to expand into explainer videos, while Google-backed Lawhive acquired a U.K. law firm to integrate AI into legal workflows.

Prezent plans to follow the same path by targeting companies in executive communications, medical writing, and consulting — all sectors where professional presentation and storytelling are critical.

Mark Terbeek, a partner at Greycroft, told TechCrunch the firm’s continued backing of Prezent is driven by its belief that AI can fundamentally reshape how companies communicate.

“We like to find areas where businesses have historically used expensive agencies for communication needs. Now, there are AI tools that can do those same jobs more efficiently. We saw that Rajat and Prezent are solving a clear and growing enterprise pain point — automating business communications with speed and intelligence,” Terbeek said.

However, while investor enthusiasm for AI startups like Prezent remains intense, some analysts are beginning to warn that the current wave of capital flowing into AI may be unsustainable. The AI boom has driven valuations to historic highs across Silicon Valley, with even early-stage startups raising tens or hundreds of millions of dollars at multibillion-dollar valuations.

But some believe that while AI is transforming many industries, the rush of speculative funding could mirror past technology bubbles, where valuations far outpaced actual profitability. Analysts at several investment firms have described the ongoing wave as reminiscent of the dot-com era, when investors overestimated the speed at which new technologies could generate meaningful revenue.

Yet for now, investors are unrelenting in their belief that AI represents the next great platform shift — one that will create trillion-dollar opportunities across sectors from enterprise communication to healthcare and manufacturing. Prezent’s latest round underscores that confidence, showing that investors continue to pour money into companies offering real-world AI applications.

Looking ahead, Prezent aims to enhance its platform by adding personalization features that allow the AI to learn each user’s individual communication style. It is also working on multimodal presentation tools that accept text, voice, or video inputs — and plans to introduce digital avatars similar to those used by Synthesia and D-ID.

The competition in this space is heating up. Rival startups like Presentations.ai, Lica, Gamma, and Chronicle — all backed by venture firm Accel — are also racing to dominate the AI presentation market. But unlike most of its competitors, Prezent remains focused exclusively on enterprise clients, with a particular emphasis on the life sciences and technology sectors before expanding into finance and manufacturing.

Nigeria Abolishes Cost-of-Collection Deductions in Major Fiscal Reform to Boost Transparency and Revenue

By
Samuel Nwite
-
0

Nigeria’s federal government has scrapped the long-standing “cost-of-collection” policy that allowed revenue-generating agencies to retain a percentage of the funds they collected before remitting proceeds into the Federation Account.

The decision, approved by President Bola Tinubu and announced Thursday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, marks a major shift in fiscal management and transparency policy.

Edun made the announcement during the launch of the National Development Update, describing the reform as part of President Tinubu’s broader effort to enforce fiscal discipline, strengthen transparency, and ensure that every naira collected by federal agencies flows directly into the national treasury.

“Funds have flowed to the Federation Account, but the point is this — efficiency of that spending is critical,” Edun said. “We have been mandated by His Excellency, Mr President, to take a look at deductions — not just those for the cost of collection, but deductions generally. When you look at the gross figure, you see all kinds of deductions before you get to the net distributable figure which goes to the federal, state, and local governments. And I must inform you that even during the last FAAC allocation, most of those deductions have been removed once and for all.”

For years, top revenue agencies such as the Nigeria Revenue Service (formerly the Federal Inland Revenue Service), the Nigeria Customs Service (NCS), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have kept back portions of their collections to fund their operations. While the arrangement was meant to incentivize performance, it became a major source of controversy amid mounting allegations that many of the agencies routinely under-declared revenues, depriving the government of huge sums that should have gone into the Federation Account.

The practice also distorted the revenue-sharing process at the Federation Accounts Allocation Committee (FAAC), where subnational governments often complained about dwindling funds despite strong revenue inflows.

Until this new directive, the Nigeria Revenue Service received N254.8 billion as its cost-of-collection for 2024, with N43.8 billion projected for the first half of the year. The Nigeria Customs Service, which previously retained seven percent of total collections, was recently placed under a four percent Free on Board (FOB) levy on imports by order of the House of Representatives in August. The NUPRC, which regulates the upstream oil and gas sector, had been allowed to keep roughly four percent of royalties and rents collected from operators.

The government said the abolition of the practice would not only plug revenue leakages but also ensure that all funds are properly accounted for before being shared among the federal, state, and local governments. The measure, Edun noted, aligns with Section 162 of the 1999 Constitution, which mandates that all federally collected revenues must be remitted in full to the Federation Account.

Fiscal experts believe the reform could significantly raise government revenue and improve liquidity at all tiers of government, especially at a time when Nigeria is struggling to fund its budget amid rising debt and limited oil earnings. The removal of the deductions, they argue, could free up hundreds of billions of naira monthly that were previously withheld under opaque cost-of-collection arrangements.

However, the move has also sparked skepticism over the government’s own record of financial transparency. Critics say while agencies have often been accused of shortchanging the treasury, the government itself has not demonstrated much accountability in managing public funds. Many economists note that despite periodic increases in revenue, Nigeria’s fiscal position remains weak due to excessive borrowing, wasteful expenditure, and limited visibility into how funds are utilized.

Some insiders at the affected agencies have also expressed concern that the move could disrupt operations unless the government creates a clear funding framework. Without their cost-of-collection provisions, these agencies will now depend entirely on budgetary releases from the Ministry of Finance — a process often hampered by bureaucratic delays and political considerations.

Nonetheless, the policy underscores President Tinubu’s ongoing fiscal reform drive, which includes unifying exchange rates, removing petrol subsidies, and auditing government-owned enterprises for unremitted revenues. It reflects a growing determination by the administration to widen the fiscal space and restore confidence in the management of public resources.

Edun maintained that the policy is part of a long-term restructuring effort aimed at promoting transparency and rebuilding trust in public finance.

“Every naira collected by government belongs to the people of Nigeria,” he said. “We are restoring order and discipline to ensure that public revenue truly serves the people — through development, not deductions.”

Although the reform marks a turning point in Nigeria’s fiscal management, the challenge remains whether the government can translate increased remittances into real economic impact.

1...360361362...7,962Page 361 of 7,962

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy