27 Jan, 2025

LADT Secures $3 Million in Angel Round Financing Led by HashKey Capital

🔥 BREAKING!According to reports from PA News, ChainCatcher, and Foresight News, the ASEAN stablecoin project USDA, initiated by the Lao National Digital Technology Group (LADT) and its subsidiary NewPay, has completed a $3 million angel round financing led by HashKey Capital. The round also included participation from Web3Labs and prominent strategic investors from across ASEAN countries. The funds will be used to further the compliance and internationalization of USDA.LADT: Pioneering Laos’ National Digital TransformationLADT operates under the leadership of the Lao central government and the guidance of the Ministry of Technology and the Central Bank of Laos (Bank of the Lao P.D.R.). It is a trailblazer and innovator driving the country’s national digital transformation. Comprising a founding team from various countries, LADT focuses on building digital infrastructure and enabling the blockchain applications across Laos and the broader ASEAN region.In July 2024, LADT signed a strategic cooperation Memorandum of Understanding (MOU) with HashKey Capital in Hong Kong, witnessed by the Chief Executive of the Hong Kong SAR, John Lee Ka-chiu, and the then Lao Deputy Prime Minister and Minister of Foreign Affairs, Saleumxay Kommasith. On the same day, LADT also signed a strategic investment agreement with Hong Kong’s Goldford Group.USDA: A Compliant ASEAN Stablecoin for Everyday UseASEAN USD, abbreviated as USDA and known as the “ASEAN Stablecoin,” is set to become one of the first fully reserved crypto stablecoins licensed for issuance by ASEAN sovereign nations. Initially launched in Laos, USDA is expected to expand to other ASEAN countries and regions in the foreseeable future.Once officially issued, USDA will go beyond typical on-chain functions. It will integrate deeply into various payment applications across ASEAN countries, facilitating day-to-day consumer spending, payments, transfers, and withdrawals for individuals and merchants alike. This will mark a significant step toward bringing stablecoins into everyday life.NewPay+: Accelerating ASEAN Payment IntegrationThe rapid adoption of digital payments in Laos is emblematic of ASEAN nations’ broader push toward digital development. With over 600 million people, a high proportion of youth, and growing internet and smartphone penetration, the ASEAN region provides a solid foundation for digital payment adoption. The growth of Web3 users in the region is also accelerating rapidly.NewPay+, LADT’s Web3-compliant payment platform, is an evolution of Laos’ national third-party payment tool, NewPay. Using USDA as its underlying settlement currency, NewPay+ will support hybrid payments of fiat and stablecoins and enable compliant fund inflows and outflows. As ASEAN governments continue to enhance digital payment infrastructure, NewPay+ will provide standardized interfaces for seamless integration with various payment tools across countries, contributing to the development of the “ASEAN Digital Integration Framework.”Laos is the first stop in LADT’s efforts to deploy a compliant Web2 + Web3 hybrid payment platform. National-level collaborations are already underway in Cambodia, Brunei, and Vietnam.RetoLabs: Redefining the Telegram EcosystemFollowing the angel round financing, LADT announced the official launch of its first TON blockchain wallet application, NewPay+ TON, along with the RetoLabs multifunctional mini-app on Telegram.RetoLabs, a key application supporting NewPay+, integrates eight service modules: gaming, video streaming, social networking, short videos, food delivery, ticketing, AI, and novel reading. Users of NewPay+ TON can earn ecosystem tokens by interacting with RetoLabs, which can be used for on-chain top-ups, spending, and asset management. With LADT’s backing, users will also enjoy globally compliant fund inflow and outflow services in the future.RetoLabs represents LADT’s proactive effort to leverage public chain traffic from instant messaging platforms, akin to the merger of LINE and Korea’s Klaytn mainnet. By combining Telegram’s massive user base and efficient communication mechanism with high-performance and scalable blockchain capabilities, RetoLabs aims to create functional mini-apps that cater to real user needs. It will serve as a bridge for Web2 users transitioning into Web3, unlocking innovation and opportunities for the entire industry.Future Plans and SignificanceLADT plans to gradually release additional products around the USDA ecosystem, including payment platforms, clearing systems, and public chains.The successful completion of USDA’s angel round financing marks a milestone in LADT’s efforts to advance digital finance in the ASEAN region. HashKey Capital’s lead investment provides significant momentum for LADT to build the region’s leading digital financial infrastructure. This achievement highlights LADT’s innovation and strategic vision while underscoring HashKey’s confidence in the growth potential of emerging markets in ASEAN.The launch of RetoLabs and NewPay+ TON marks LADT’s first step toward practical application scenarios, showcasing its commitment to driving innovation through technology and building a decentralized application ecosystem. In the future, LADT will continue to promote innovative blockchain applications, delivering superior digital service experiences to its users.

22 Jan, 2025

What to Know About Trump Cryptocurrency Meme Coins

President Trump has launched a cryptocurrency coin that is drawing a sharp eye from experts as it yo-yos in value in its opening days of trading.The official "meme coin," known as $TRUMP, was launched on Friday for nearly $6.50 and rose to a high of $73 on Sunday. Hours after his inauguration, it had dropped below $40. It's market cap on Monday was about $7.6 billion, according to CoinGecko.First lady Melania Trump on Sunday also launched a meme coin, $MELANIA, at nearly $7. That coin also jumped in early trading, nudging above $13 at its height, before dropping below $5 as of Monday afternoon, according to CoinGecko."My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!," Trump wrote in a post on X, telling supporters to "Have Fun!"Here is what you should know about the coins and cryptocurrency's future under the Trump administration.What is a meme coin?A meme coin is a type of cryptocurrency that is inspired by a meme or another internet trend. One of the most well known is dogecoin, which was created as a joke and features a dog as its mascot. It became popular in 2013 and again in 2021.Cryptocurrencies are unpredictable, volatile, and have been exploited by criminals to engage in fraud.The cryptocurrency exchange FTX collapsed in 2022 and its founder, Sam Bankman-Fried was sentenced to 25 years in prison for his crimes.Trump's meme coin is marketed with an image of the president holding up his fist with the words, "FIGHT FIGHT FIGHT" – a phrase he has dubbed "a battle cry" after surviving an assassination attempt in July 2024. The first lady's coin features a black and white photo of Melania smiling with her hands clasped in front of her face.What is crypto's future under the new Trump administration?In the past, Trump has criticized cryptocurrency, calling it a "scam" and "potentially a disaster waiting to happen" during an interview with FOX Business in 2021. But he has since embraced the sector and on the campaign trail promised to make the U.S. "the crypto capital of the planet" by ending previous enforcement actions and bringing in friendly regulators.The Trump family also has financial interests in World Liberty Financial, a crypto-related company.There have been questions surrounding Trump's meme coin and potential conflicts of interest given that Trump has promised to promote the crypto industry as president.Trump has chosen Paul Atkins, former U.S. Securities and Exchange Commissioner and CEO of a consulting firm with crypto clients to lead the SEC. Atkins is also a supporter of cryptocurrencies and has expressed reservations about the SEC's enforcement actions against the domestic crypto industry. David Sacks, a venture capitalist, has also been appointed by Trump as the country's first crypto and artificial intelligence czar.A GOP-controlled Congress could also help bolster cryptocurrency. Republican Arkansas Rep. French Hill, chair of the House Financial Services Committee, has pushed for measures to help develop crypto. There is skepticism about congressional warmth toward cryptocurrency, including from digital assets expert Carol Alexander, who called it "a step in the wrong direction.""We have to regulate the space," Alexander, a professor at the University of Sussex, previously told NPR.Preston Byrne, a cryptocurrency lawyer, said Trump's involvement in cryptocurrency raises legal questions and could have a negative impact if it is not successful."Trump himself will also have to contend with the fact that his political fortunes will be tied to an asset that the market, and not the man, controls," Byrne wrote in a post on Sunday. "If $TRUMP crashes it might affect his own political clout in DC."