The Algorand Foundation has secured several partnerships with organizations such as NASSCOM, TiE Bangalore, and the Mann Deshi Foundation, to consolidate and expand its presence in the Indian market. This and more news is in this handy daily digest so that you are always informed with the latest developments happening within the crypto world.
Algorand expands into the Indian market
📍The Algorand Foundation has partnered with trade organization NASSCOM and other leading entities in India. Through these new partnerships, Algorand is looking to expand its presence in the Indian market, which it entered earlier this year with the launch of the AlgoBharat solution.
According to the Foundation, its new partnerships include the National Association of Software and Services Companies (NASSCOM), the global entrepreneurship organization TiE Bangalore and the Mann Deshi Foundation, which provides support to women.
Alongside these new organizations, the Algorand Foundation will work on a digital identity solution, a blockchain-based scorecard, and other projects that will encourage the development and adoption of Web3 technologies. The Foundation will also foster various educational initiatives that encourage knowledge sharing and the development of new skills among students and the broader Indian community.
At the time of writing, the price of Algorand (ALGO) is trading up nearly 24% over the past month, surpassing $0,135 per unit.
ALGO is the 51st largest cryptocurrency in the market, with over $1.000 billion. In addition to this, its daily trading volume has increased by 6% in the last few hours, surpassing the $145 million traded on Thursday.
Celsius Network Withdrawals are now enabled
📍A portion of Celsius Network cryptocurrency lending platform clients can now begin withdrawing their funds. Celsius, which filed for bankruptcy in July last year, enabled its customers with certain assets from the Custody service to withdraw funds from the platform.
In a recent statement shared on social media, the platform said that eligible customers with some of the qualified custodial assets can begin withdrawing their funds, while all other customers with cryptocurrencies on the platform must continue to wait for further information.
The company's statement also indicates that customers currently eligible for withdrawals should remove their funds from the Celsius Network platform as soon as possible, as it will only be available for a limited time.
In early March, 8 months after declaring bankruptcy, Celsius enabled the first withdrawals for the Custody service, notifying eligible customers that they could withdraw most of their funds from the platform.
On the other hand, Celsius has unveiled a new plan to become a Bitcoin mining platform, completely abandoning the crypto lending niche. According to the plans revealed by the company, the entity will be created Mining NewCo, in collaboration with the Fahrenheit Group, to dedicate itself exclusively to mining bitcoins.
EURS joins the Stellar network
📍The euro-backed stablecoin EURS has arrived on the Stellar blockchain. On social media, Stellar developers welcomed the EURS stablecoin, developed by European fintech company Stasis.
As Stellar developers noted, the arrival of EURS on the blockchain marks an important milestone, both for the crypto industry and for the euro, which is currently the second most traded currency in the world.
Stellar network developers commented that EURS is a stable, efficient and transparent currency that can now be traded with low-cost transactions on the Stellar chain.
Buy Stellar (XLM) here
SEC seeks comment on Fidelity's Ethereum ETF
📍The Securities and Exchange Commission (SEC) has opened another public comment window for one of the ETF applications under review. As reported by Bloomberg ETF analyst James Seyffart, the SEC announced the opening of a comment period for the Ethereum ETF application, which was submitted by Fidelity Invest.
This comment period will last for 21 days and provides a window for interested parties to provide input and feedback or raise concerns. This comment period also serves as a way for the SEC to gather public opinion regarding these cryptocurrency listed investment vehicles.
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