Sharad Agarwal’s Interview With TheNewsCrypto

https://thenewscrypto.com/sharad-agarwals-interview-with-thenewscrypto/

Dubai

AIBC Eurasia 2023 in Dubai, UAE kicked off with the biggest developers, C-level executives, legal professionals, and policymakers from the blockchain and AI sector. The following is an exclusive interview with Sharad Agarwal, Chief Metaverse Officer at Cyber gear, by TheNewsCrypto

About Sharad Agarwal

Sharad Agarwal is the Founder and Chief Metaverse Officer of Cyber Gear, a Web3 agency. He has 27+ years of experience in the digital space. He founded Cyber Gear in 1996, the first digital agency in the Middle East. Cyber Gear entered the Metaverse in 2021 and now provides services for Web3 and NFTs. Highly skilled in facilitating the process of creating the required infrastructure to meet any metaverse needs. He is also an investor, advisory board member, and international keynote speaker, providing insights into the fast-moving tech industry.

About Cyber Gear

Cyber Gear is a Web3 agency that was established as a digital agency in the year 1996. The firm entered the Metaverse sector in 2021 and now designs its infrastructure to shape the future. Cyber Gear helps in providing immersive experiences and assists brands in evaluating various activation possibilities to engage with a larger audience.

Sharad Agarwal, Founder and Chief Metaverse Officer of Cyber Gear, with TheNewsCrypto Team

Let’s get started with your perspective on the event. What is your expectation about the AIBC event?

As we are a Web3 agency in the space for more than 27 years, our firm looks for opportunities to incorporate new technology. Significantly, ChatGPT is popular and AI seems to buzz around the space, I am looking ahead at how to integrate AI into Web3. So, I came to this conference to exchange information and to figure out the ways to implement AI concepts as it’s the future of digital space. 

Who do you look forward to meeting at this event?

Yeah, I have connections with a few prominent figures in the crypto industry who are attending the event. In a way to support them and make new business connections would be my core idea to attend this conference.

Do you think that Dubai is the global crypto hub?

Yes, of course, Dubai is the first city in the world to announce the Dubai Metaverse Strategy. Moreover, the crypto hub in Dubai got more than 1500 businesses registered. Following that, the government is currently working on regulations for the space so there is no doubt that Dubai is the crypto hub.

Most interesting application in Blockchain or Web3?

I see an interesting one from healthcare, where a company in Italy is developing a metaverse of senses. This platform allows users to smell any organ in the body virtually. Using this tech through the metaverse makes the work for doctors more flexible. It provides 90% accuracy of the smell, thus doctors can detect the state of the organ remotely. Secondly, I would say it’s fashion brands that allow avatars to try outfits and it seems interesting. Digital outfit try-ons and attires are  sustainable options for planet Earth 

Your opinions on the bank crash that happened last week?
It’s saddening that everything is global and interconnected. If one bank goes down in California then it takes the rest of the world down with it. From my perspective, Banks should have more regulation and transparency which is possible with Blockchain technology. As banks adopt blockchain, there will be fewer scams while trust, security, and transparency will be built.

Stablecoin Providers Adapt to Changing AML Landscape in Crypto

https://thenewscrypto.com/stablecoin-providers-adapt-to-changing-aml-landscape-in-crypto/

As the world of cryptocurrency and stablecoins continues to evolve and gain mainstream adoption, the importance of implementing effective anti-money laundering (AML) practices becomes increasingly crucial. By adhering to AML regulations and guidelines, the crypto industry can establish greater credibility and trust among investors and regulators, ultimately leading to a more stable and secure financial ecosystem. STASIS, the leading euro stablecoin issuer, continues to promote transparency within the tightening market conditions.

Facing the Regulatory Unclarity

STASIS’ journey started in 2017 when they assisted in educating local service providers — auditors and fund administrators. That experience helped the firm to develop relationships with the local regulator MFSA and government top officials like Prime Minister, Minister for Digital Innovation, and even the President herself. The Government officials and regulators from Malta consulted STASIS and asked them to contribute to the legal framework.

The conflict of interests between the leading stablecoin provider Tether and Bitfinex led to the inception of STASIS five years ago. Also, STASIS significantly turned up to educate the community and regulators across 18 countries about crypto regulation. The firm achieved it by facilitating and supporting crypto conferences worldwide.

The existing E-money regulation was meant to be disrupted by the blockchain, so STASIS proposed the creation of a new set of licenses and rules for ventures like stablecoins. In 2018, the team published the Book containing a comprehensive overview and analysis of digital asset regulation in 13 jurisdictions worldwide. A year later, a second, more detailed version was published, specifically targeted at state-level decision-makers, and is enriched with reference data on the blockchain and cryptocurrencies: their design, mechanics, features, purposes, risks, and benefits. 

In 2020, the STASIS team was a part of the INATBA expert task force, which helped the European Commission to draft a European framework for crypto assets, which later became the basis for future MiCA regulation. While the upcoming MiCA regulations are widely discussed, we’d like to clarify this intricate point.

In 2025, it is expected that a MiCA regulation framework will enter into force and clearly limit non-European stablecoin usage by restraining exchange operations as well as by complicating the registration & issuing requirements. To prepare a company for the upcoming MiCA regulation and be supervised by MFSA in a transitional period, STASIS applied earlier this year. 

Gregory Klumov, CEO and Founder of STASIS, stated:

“We expect to get approval from MFSA in Q2 2023 and then apply for an e-money token license under MiCA regulatory regime once it comes into force.”

EURS is Always One Euro

The stablecoin EURS is a blue-ribbon asset that originated in Malta – the heart of EU fintech. EURS is a unique euro-backed stablecoin with two crucial characteristics. Firstly, it is the only stablecoin that enables multiple distributed ledgers. Secondly, it utilizes multiple capital channels – SEPA, ISIN, SWIFT, and ISDA. 

Till the start of this year, the valuation of EURS products rose nearly to $6 billion. This boosted STASIS to become one of the largest non-USD stablecoin issuers. The STASIS’ B2C entity is regulated by VQF (Self-Regulatory Organization – SRO), officially recognized by the Federal Financial Market Supervisory Authority (FINMA). Notably, VQF and FINMA are pioneers of regulation in crypto adoption, always setting an example to other governmental regulators, especially regarding Anti-Money Laundering (AML).

To enforce complete transparency, EURS is audited by five leading global audit firms. The project developed its native white-label API for crypto-to-fiat settlement in the EU region. This API infrastructure is live on prominent blockchain networks such as Ethereum, Algorand, Ripple, XDC Network, and Polygon.

Moreover, STASIS safeguards its investors by ensuring that their digital assets are backed appropriately by collaterals. STASIS collateral reserves include daily account statements, quarterly audits and monthly verifications by BDO Malta, and on-demand verification for entities collaborating with them. Furthermore, STASIS competes with the biggest euro-denominated staking pools with the DeFi-centric stablecoin EURS.  

A Swiss Gateway to DeFi

One can get EURS on several blockchains straight from the source — via STASIS featured Sellback service that effectively allows working both in CeFi and DeFi to existing legislation in the EU and Switzerland. 

For the delegation of the EURS market’s facilitation, STASIS has chosen the Swiss-based SCB exchange.SCB is a trustworthy Swiss-registered exchange bound by the laws of Switzerland, one of the pioneer nations with advanced crypto regulatory frameworks. Klumov asserted, “No bank has yet refused to send/receive funds against this FINMA-licensed institution.” 

STASIS position itself in the frontier to onboard users and provide them with hassle-free and top EU-grade crypto services. With its highly experienced team, the stablecoin provider eases most processes in the digital asset world for SCB customers.

Currently, EURS is traded on the leading centralized exchanges such as Bitfinex, HitBTC, Cryptology, CEX.io, and Indodax and leading decentralized platforms such as Uniswap and Curve Finance.

EURS successfully competes in the DeFi space with the biggest euro-denominated staking pools. STASIS allows EURS users to link their digital wallets to banking cards. Using Wirex or TrustPayments cards, users could not only acquire EURS using cards’ fiat but also cover their everyday expenses via cards and withdraw cash via ATM. 

Disclaimer: The opinions expressed in this article do not purport to reflect the views of TheNewsCrypto or its members. TheNewsCrypto team encourages all to do their research before investing.

Katharine Wooller’s Exclusive Interview With TheNewsCrypto

https://thenewscrypto.com/katharine-woollers-exclusive-interview-with-thenewscrypto/

Crypto Expo Dubai 2023 commenced with a successful amalgamation of the crypto industry’s leading experts and companies in the finest arena. The following is an exclusive interview with Katharine Wooller, the Business Unit Director of Coincover by TheNewsCrypto at this prime crypto event.

About Katharine Wooller

Katharine Wooller is the Business Unit Director of Coincover, a renowned UK-based crypto-tech provider. She holds a 15 years+ diversified career in sales, marketing, and global fintech businesses from B2B to B2C. Wooller is an expert professional who is intrigued by processes or projects related to Software as a Service (SaaS), complex sale cycles, and innovative technologies such as Blockchain and AI. She is featured as an adept subject matter expert and guest writer by leading press such as BBC, Wired, The Times, The Telegraph, Fintech magazine, and so on.

About Coincover

Coincover is a UK-based crypto protection and insurance provider that started out in 2018. The firm is headquartered in Cardiff, United Kingdom. Coincover develops security options for digital assets. Its products include theft recovery, disaster recovery, and validator key recovery solutions. It looks to secure and safeguard cryptocurrency investments, technologies, and businesses.

Katherine Wooller, Business Unit Director of Coincover with TheNewsCrypto Team

Let’s start with the basics, what is Coincover? What is the USP of your firm?

Coincover is a tech provider. We support about 300 crypto businesses across exchanges, hedge funds, asset managers, and infrastructure providers. We do seed phrase recovery, for anyone who is concerned, they’ll lose their password and access to their crypto. And we also have theft prevention. So We are the only provider who can make sure there’s no hacking and theft. And we have Lloyd’s of London Insurance as well, so we are the only company that does that.

How long have you been in the crypto business? And how did you deal with the previous crypto winter?

Over four and a half years. So I’ve worked for four crypto businesses across exchanges, tech providers, and health tech. And obviously seen a lot of change. The industry really is only four or five years old.

What is your reason for attending the Crypto Expo Dubai 2023?

We’re very interested in the region. Obviously, the incoming borrower regulations are very interesting to us. One of the things they say is there have to be seed phrase backups, so we’re seeking customers and strategic partners in the area. It’s a very busy show, I’ve been here for two days and met lots of interesting people.

One unfortunate event in the crypto environment that you would like to erase or do it right. If given a chance would be?

So many to choose from. So obviously quite a lot of bad news in the last year. The crypto business has been very affected by the crypto winter. I think mostly FTX, just because of the reputational damage and the contagion, and obviously the drop in prices.

When do you think the crypto market will enter the “Golden Era”?

I think there are a lot of good things happening, particularly in the regulatory space, particularly in the adoption. I think more and more people are coming to crypto, whether it’s for payments or as retail investors, so I’m not sure, but I think the medium turn for crypto is bright and I think it’s really a lot of growing pains for the industry. In terms of adoption, we are doing very well and the prices have got to catch up at some point.