Today in Crypto: Xapo Bank Adds ETH, ADA and MATIC, Immutable Partners with Ubisoft, Zircuit Launches Public Testnet

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.
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Banking news

• Xapo Bank announced the launch of three more cryptocurrencies that members can buy, sell, and hold on the Xapo Bank app: ethereum (ETH), cardano (ADA), and polygon (MATIC). It said it is the first retail bank to offer these digital assets to members from “the security of a regulated banking environment.” Members will pay a 1% fee on ETH, ADA, and MATIC, with no hidden fees, the bank added. The Xapo Bank app allows members across the globe to manage access to US Dollars, GBP, Euros, US stocks, USDC, USDT, and several cryptocurrencies.

Gaming news

• Web3 gaming platform Immutable announced a new partnership with video game creator and publisher Ubisoft. According to the press release, with this partnership, “Immutable continues in its ambition to bring digital ownership to players, while Ubisoft pursues its exploration of decentralization through its Strategic Innovation Lab.” Ubisoft will leverage its experience developing games with Immutable’s ecosystem, technology, and expertise in building the Web3 gaming platform, the announcement said.

Blockchain news

• Zero-knowledge rollup Zircuit announced the launch of its public testnet, inviting developers and projects from across the Web3 ecosystem to participate. It provides a place for developers to battle-test their decentralized applications (dapps) before launching on the Ethereum mainnet, it said. Per the announcement, projects will receive assistance and incentives, such as onboarding, readiness support, and developer workshops. Zircuit is fully Ethereum Virtual Machine (EVM)-compatible, supports existing Ethereum dapps and wallets, and allows any dapp on Ethereum to deploy on Zircuit with minimal changes, it said. To celebrate the launch, the team will host a multi-day event during Devconnect, starting November 13.
• Layer 1 blockchain Concordium announced the upcoming launch of EUROe, a fully regulated MiCAR-compatible, Euro-backed stablecoin developed by Finnish financial technology company Membrane Finance, natively on Concordium. According to the press release, EUROe maintains a locked 1:1 backing with EUR, ensuring users can confidently deposit EUR and redeem EUROe with the assurance of a seamless conversion process. To enable the integration with Concordium, Membrane Finance will first release a smart contract that controls the issuance, minting, and redeeming of the EUROe stablecoin as a CIS-2 token on the Concordium blockchain.

Investment news

• Ethereum scaling startup Stackr Labs announced its Seed round, raising a total of $5.5 million. The round was led by Archetype, with participation from Lemniscap, a16z CCS, Superscrypt, a_capital, Spartan, Scalar Capital, t0 Capital, and angel investors, including Anurag Arjun, Sreeram Kanan, Mustafa Al-Bassam, Arjun Bhuptani, Rahul Sethuram, Layne Haber, Lito Coen, Andrew Keys, and Devfolio. The raised funds will be used to support team expansion, prepare for the upcoming v1 launch of the platform, and expand Stackr’s developer ecosystem. The goal is to attract independent developers and enterprise teams working on both Web2 and Web3 applications, the startup said.

Payments news

• Crypto payments platform Wirex announced a partnership with tokenomics simulation company Cenit Finance to refine and scale the tokenomics of its native utility token, WXT. According to the press release, Wirex will use Cenit Finance’s simulation platform to test and enhance WXT tokenomics. “The ultimate aim is to develop a community engagement model that is inclusive and interactive,” the company said.