China News Official Today TheBitTimes.com

Launched in September by two former Andreessen Horowitz executives, Bastion has acquired its first two money transmitter licenses in New Hampshire and Arkansas. Bastion, a new cryptocurrency startup created by former Andreessen Horowitz (a16z) executives, has secured two money transmitter licenses (MTL) in the United States. Bastion has acquired MTLs in New Hampshire and Arkansas, the first two licenses obtained by the firm, Bastion announced on Oct. 31. The new licenses, granted by the New Hampshire Banking Department and Arkansas Securities Department, will enable Bastion to offer services for fungible digital assets in each state. It has additional applications pending for MTLs in other U.S. states, the firm said. The license acquisitions enable Bastion to participate in activities related to the selling or issuance of payment instruments, stored value, prepaid access, as well as the receipt of money and digital currency to facilitate transactions with others in the states. The...

Decentralized finance cross-chain money market aggregator Fuji Finance said the protocol was unable to find the market for its product, while also experiencing limited finance. In a recent Medium blog post, the company said that it failed to find “product-market fit,” a situation which was made more difficult amid the current crypto bear market. Fuji Finance’s attempts to raise additional funds for further development proved futile, and its team has been trying to attract more investors since last February, according to the blog post, but the effort seemed unsuccessful, causing the firm to decide to pull the plug amid its depleting treasury.  You might also like: Uniswap launches educational platform amid v4 development “Since February of this year, the Fuji team has been fundraising to continue development on the protocol and build out the future of cross-chain DeFi operations . We were unable to find product market fit. With our treasury dwindlin...