CrossFi News
151K subscribers
377 photos
258 videos
1 file
725 links
Cross Finance is a next generation digital ecosystem offering cutting-edge payment solutions.

Cross Finance Сommunity: https://t.me/crossfiofficial

Find us: https://taplink.cc/crossfinance
Download Telegram
#TOKEN2049 Day 2

Today we continue to communicate with the participants of the conference and establish new connections. There will be a lot of interesting content ahead.

In 10 minutes Fedor Bogorodskiy will speak from the #CrossFinance team at the OKX Mainstage with industry leaders.

Stay tuned!
🔥158🕊7💯7👍6🐳53👌2🏆2🆒1🦄1
Fedor Bogorodskiy is on OKX Mainstage right now!

#CrossFinance x #TOKEN2049
19👍4👌3🔥1👏1🐳1
“My target is to provide the decentralised solutions first of all”, - Fedor Bogorodskiy, Banking Director at #CrossFinance.
22👏4👍3🕊1🏆1🤝1🆒1
Thank you, @TOKEN2049

We would like to extend our gratitude to all the attendees, colleagues, and partners who joined us at the #TOKEN2049 conference. It was an absolute privilege to be a part of this leading event in the #web3 and #crypto industries!

Being on the same stage as industry leaders was an invaluable experience for Cross Finance. We were inspired by the discussions, insights, and innovations that were shared throughout the conference. We are excited to witness the collective drive for shaping the future of decentralized finance.

There will be many more events to come. Stay tuned for more updates from Cross Finance!

#TOKEN2049 #CrossFinance #Web3 #Crypto #DecentralizedFinance
🔥16🕊4🐳4👌3💯211👍1🏆1🆒1🦄1
HTX launches a new phase of airdrop campaign featuring XFI!

From September 7 to September 21, HTX users have the opportunity to receive a 100% cashback on XFI trading fees, and they can share these rewards with their invited friends. As the inviter, you'll receive an 80% cashback on XFI trading fees, while your guests will receive a 20% cashback.

There are no limitations on the number of trades or guests. The rewards increase as you invite more friends, and as they engage in trading.

The rewards will be credited to participants' HTX accounts within 7 working days after the event ends.

Stay tuned and don't miss XFI promotions!
👍155💯4🎉2🐳2🔥1🏆1🦄1
Cross Finance is the Main Partner of Beatland

Beatland is an international hybrid beatboxing battle. The project started in February 2023. The idea of the event is based on cultural shifter, technology, blockchain and creativity.

🔹Created and hosted by beatbox stars Mad Twinz.
🔹300 participants from more than 20 contries
🔹The top 8 artists in the final.

Competitors who reach the final will battle for a 50,000 USDT prize pool in Bali (Nuanu place) on November 18.

Stay in touch for more updates!
22🐳7👌6🏆54💯3👍2🔥1🕊1
Media is too big
VIEW IN TELEGRAM
#TOKEN2049 is now history, but we still have plenty of impressions to share with you from the event!

Walk with the #CrossFinance team through the entire event site and immerse yourself in the crypto atmosphere.

By the way, how many Cross Finance logos did you find?
🔥144🐳3💯3👍1
This media is not supported in your browser
VIEW IN TELEGRAM
How Traditional Finances Benefit from Cryptocurrency Integration

The integration of cryptocurrency into traditional finance (TradFi) offers significant benefits. While TradFi services like lending, insurance, and payments have been around for centuries, it has its limitations, with 1.4 billion people worldwide remaining unbanked due to high entry barriers, inadequate credit levels, and hefty service fees. Bank charges for transfers, especially across borders, deter small transactions, and acquiring costs hinder the growth of small and medium-sized businesses. Crypto integration addresses these shortcomings, providing a solution for financial inclusion, reduced fees, and improved opportunities for businesses of all sizes.

Here come cryptocurrencies

Cryptocurrencies offer swift and cost-effective money transfers with minimal intermediaries, enabling small and medium-sized businesses to expand globally beyond their local markets. However, a complete transition to crypto has its constraints related to regulatory approach in different regions.

Here comes Cross Finance

The synergy between cryptocurrency and TradFi enhances the quality of services through innovative technologies maintaining their logical background intact. The video demonstration illustrates how payments can be effortlessly processed via a POS terminal using a bank card linked to the Cross Finance account. The payment process mirrors traditional card payments but is made in XFI coins, thanks to Cross Finance's proprietary processing engine. It calculates the number of XFI coins required to pay for the goods, taking into account the current price of XFI on exchanges, and sends this information to the smart contract to which the user’s wallet with XFI is linked. Simultaneously, the processing engine sends the necessary amount in fiat to pay for the goods to the merchant.

This is just one of the few features of Cross Finance. Cross Finance is a full-fledged banking application that grants access both to traditional finances and cryptocurrencies.
🐳24💯11👏9🔥4🕊4🏆43👌32👍1
Why is decentralization the hottest topic in recent years?

The theme of decentralization ran throughout the TOKEN2049 conference, which attracted thousands of visitors & hundreds of experts last week in Singapore. All panel discussions touched on the question of how to avoid centralization of business processes. But what are the dangers of centralization?

Pros and cons of centralization

A centralized approach to organization and management leads to the fact that power is concentrated in the hands of a few leaders. It helps optimize administrative costs. Decisions are made by a narrow circle of leaders & are not discussed neither with employees nor with users which means the decision-making process itself takes little time.

On the other hand, this entails ineffective decision-making & stifles the pace of innovation and growth. The staff and audience feel disconnected without the ability to leave feedback. The lack of flexibility in a business is a huge risk factor.

If we talk about the world of crypto, then centralization here creates high risks of fraud. Let's recall the case of FTX, which was often cited on TOKEN2049 as an example of mismanagement. Only a few managers made decisions about investments, movements of user assets, and economic strategy.

What decentralization mechanisms can be used now?

Decentralization of decision making: With the help of blockchain technology, the decision-making process can be accelerated through the use of voting, while motivation can be launched through various channels, such as mining, staking, yield-farming, etc.

Effective communication: Decentralization offers various mechanics, such as rewards or loyalty programs, encouraging them to give active feedback.

Increased adaptability: Active feedback leads to faster decision-making & helps improve adaptability.

Thus, decentralization is a more adaptive, flexible & effective approach to business process management. It allows you to create systems where all participants, including users, benefit from active involvement.
👏15👍6🥰65😁3🎉3🔥2
Future of traditional finance

The world is changing, and the banking services industry is changing with it. Digitalization has already allowed us to substitute our wallet with a smartphone. What other changes are to come in the near term? Many experts believe that in the future, traditional finance will implement DeFi products and mechanics, and there will be a synergy between two different approaches.

Pros of DeFi

Decentralized finance uses blockchain technology, which reduces or completely eliminates the number of intermediaries in transactions. This reduces the cost of transfers, making them faster and cheaper. According to the World Bank's Remittance Prices Worldwide report, transferring money internationally had an average transfer cost of 6.3% of the total transaction, with banks having the highest fees (approximately 11.69%).

Cryptocurrencies are a new asset that allows creation of new products, such as staking. Users are motivated to actively participate in the ecosystem by receiving incentives. With inflation rising to 8.8% in 2022, according to the International Monetary Fund, DeFi products are becoming a new instrument to hedge the inflationary risks. 

TradFi and DeFi in one app

Users want to explore new opportunities for digital assets, but are not ready to give up their usual banking services. According to the GFT's Banking Disruption Index, consumers want the best of both worlds with digital and traditional banking features. An easy-to-use-digital banking app (47%) with a wide range of services and products available is in highest demand globally.

Ironically, there aren't enough apps like this on the market. Users often complain about poor usability and poor user experience of cryptocurrency-related apps.

That's why, when developing the CrossFi App, we set ourselves the goal of launching a full-fledged banking app, supporting both decentralized and traditional finances and enabling customers to use cryptocurrency just like fiat seamlessly and in a matter of few clicks.
14🔥5👍4👏2😁2🥰1🎉1💯1🏆1🦄1😎1
According to a poll of 603 global business decision-makers in the UK, China, and the US, nearly 90% of the businesses are deploying blockchain technology in some capacity, with 87% saying they plan to invest in blockchain in the next year. The enterprise adoption of blockchain is expected to deliver more effective business processing. The key features that attract enterprises are security, supply chain efficiency, data protection, blockchain-based solutions for internal workflows, payment gateways, etc.

Thanks to its modular architecture, CrossFi solutions can be effectively integrated in the operational systems of businesses of various sizes, from small stores to large corporations.

What CrossFi offers to enterprises?

Accounts: Open an account and receive any liquid assets across more than six networks with minimal fees.

Exchange: Whether you want to store or to convert received crypto to fiat, it's a matter of a few clicks in your business account. 

POS terminals: Start accepting both fiat and cryptocurrencies, using a single POS terminal. 

Analytics: business account grants access to analytics for all transactions and active products. Open a business account and gain access to our marketing tools. Choose a period or a product and receive a report in 30 seconds. Automatic reporting is also available.

Products for clients: Quick emission of virtual cards, activation of physical cards via mobile number, easy-to-make and fast transactions.

Tokenization: A fully EVM-compatible smart contract system, SDK, and other tools enable you to launch your own tokens and build apps. Tokenize your loyalty program and intensify your clients' loyalty and motivation with tangible rewards. 

All services accessible via a single business account. CrossFi for business is a synergy of best practices from traditional banking and the innovative DeFi sector. Bringing them together, we offer a set of handy tools for businesses enabling them to grow faster, optimize their workflow, facilitate payments and money transfers.
👏17🔥9👍5🥰4😁3🎉3🕊2🦄21
Why are cryptocurrencies a must-have of modern online banking?

Cryptocurrencies are one of the main digital banking trends reshaping the industry.Online banking finds itself forced to respond to the demand of its target audience, which in developing countries is showing increasing interest in cryptocurrencies. According to a recently published Chainalysis report, developing countries have become the main players in the cryptocurrency market in terms of digital assets adoption speed, with African and Asian countries leading the race.

Chainalysis report's key findings

🔹Lower-middle-income countries are at the forefront of mass cryptocurrency adoption, with India leading the Grassroots Adoption Index in 2023.

🔹Nigeria ranks as the second-highest country in the world in terms of crypto adoption.

🔹Nigeria’s crypto transaction volume grew year-over-year to $56.7bn.

🔹Crypto is one solution to Nigeria’s economic challenges, such as Naira’s decreasing value, Chainalysis says.

🔹Central and South Asian states dominate the Index, with six of the top 10 countries located in this region: India, Vietnam, the Philippines, Indonesia, Pakistan, and Thailand.

🔹These six countries account for almost 20% of global crypto activity.

🔹India is also the largest crypto market globally in terms of estimated transaction volume, second only to the United States.

🔹South Asian countries demonstrate high interest in gaming and gambling platforms, especially in the Philippines (19.9% of crypto-related web traffic).

🔹Vietnam and Pakistan show high demand on P2P exchange, overtopping India, the Philippines, Indonesia, and Thailand by this indicator.

As Chainalysis analysts write, crypto in these countries are not just an investment, but an instrument to facilitate daily transactions.

The statistics demonstrate that cryptocurrencies have penetrated many residents’ day-to-day lives and currently become an important part of everyday routine transactions.
🏆10👍7💯32🐳2🦄2🔥1👏1
Media is too big
VIEW IN TELEGRAM
#TOKEN2049: 10 days later

Let's take a look back at what it was like!
Put a 🔥 for the cool Cross Finance booth.
🔥226🎉4🦄2😎2👍1🐳1🆒1
The Roadmap of Cross Finance Ecosystem 2023-2024

The roadmap encompasses development plans, initiatives, and strategies that focus on maximizing the utility, value, and security of our ecosystem. It provides a chronological overview of new products launches and offline activities.

So, this quarter, we plan to launch the Cross Finance website, start the CrossFi Foundation and various programs related to it.

🔹Explore all of Cross Finance's plans above.

For more information, stay tuned here. Lots of updates coming soon.
👍20🔥54🐳4👌1💯1🆒1🦄1
Telegram launched Stories for channels calling them by far the most-requested feature in the history of messenger.

However, this feature is available only to those channels with a Premium subscription which receive votes from users.

Votes will give us the opportunity to publish more interesting content for you.

🔹Click on the "vote" button.

Thank you all in advance!

https://t.me/crossfichain?boost
13👍6🔥3🐳1
CrossFi News pinned «Telegram launched Stories for channels calling them by far the most-requested feature in the history of messenger. However, this feature is available only to those channels with a Premium subscription which receive votes from users. Votes will give us the…»
The CrossFi ecosystem is in a stage of active growth, filling with new services and applications. To fuel this development and stimulate the creation of new user-friendly tools, bridging crypto and fiat finances, the role of the supporting body was given to the CrossFi Foundation.

What is CrossFi Foundation?

CrossFi Foundation is a non-profit organization, which plays a crucial role in the scaling of the Cross Finance ecosystem. It is self-regulating, with most active users of the ecosystem being able to decide on its future and development.

CrossFi Foundation's main goal is to grant support to those who are interested in developing the ecosystem.

It narrows 4 key grant directions, with total budget reaching $50,000,000:

🔹Grants for users. They can enjoy airdrops for subscribing to CrossFi's social networks and inviting friends, take part in zealy and gleam campaigns with rewards or play a role of a CrossFi Chain tester with tangible incentives.

🔹Grants for ambassadors. If you have audience to share your experience with or you are a creator, you can apply for a CrossFi Foundation grant.

🔹Grants for developers. The CrossFi Foundation is supporting innovators building tools, services and dApps based on the CrossFi EVM-compatible blockchain. Both those who have ready-made solutions or just a cool idea can apply.

🔹Grants for validators. The CrossFi Foundation motivates those who participate in testnet or raise a full node, becoming a validator.

All grants are awarded in MPX coins, except for grants for product and service development. Developers receive grants in XFI coin.

Stay tuned so you don't miss the launch of CrossFi Foundation.
🔥23👍17🎉6🥰53🐳2🦄2👏1💯1🆒1
Media is too big
VIEW IN TELEGRAM
The incredible guys from Beatland!

On November 18-19 in Bali they will show their skills on stage.

🔹Cross Finance is a Title Partner of Beatland festival.

Watch this video and put a 🔥 for upcoming battle!
🔥22👍6🆒42🐳1🦄1