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Social Media Protocol CyberConnect Launches Link3 for Secure Networking
The product is debuting two months after the company raised $15 million in Series A funding.
By Cam Thompson
Updated May 11, 2023, 4:19 p.m. Published Jul 19, 2022, 1:00 p.m.
CyberConnect, a protocol making social media profiles interoperable across Web3, is launching a social networking platform called Link3.
Link3, CyberConnect’s inaugural product, uses blockchain technology to create a secure, decentralized network with verified identities, according to a press release issued on Tuesday. The company’s CEO, Wilson Wei, called it “LinkedIn for Web3.”
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“CyberConnect’s mission is to connect everyone on Web3,” Wei told CoinDesk in an email. “We found that a trusted identity network is the foundation for building more meaningful connections.”
The product also seeks to protect users from social media-related fraud.
Fifty percent of crypto scams over the past year occurred from faulty advertisements or bad actors in users’ direct messages, according to CyberConnect’s press release.
Link3 is intended to provide users a profile with a verified identity to ensure they’re connecting to trustworthy people, said Wei. It will also allow users to select who can send them messages regarding payments or digital assets.
Link3 plans to work with decentralized autonomous organizations (DAOs) to better facilitate identity confirmation and community establishment. Wei said that with identity verification “DAOs could leverage their community resources and engage with members in much more diverse, tailored and productive ways.”
CyberConnect currently has 30 partnering projects, with over 1.5 million users and 21 million connections within the social graph protocol, according to Wei.
In May, the company raised $15 million in Series A funding led by Animoca and Sky9 Capital.
The Alpha 1.0 version of Link3 goes live today for users with whitelisted addresses or verification codes. The product will launch to the public by the end of this year.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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