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Crypto

Hong Kong's OSL Group raises $200 million to expand stablecoin, payment business

Hong Kong-based OSL Group raised $200 million to expand its stablecoin and digital payments business, Cointelegraph reported on Thursday. The company plans to use the funds for acquisitions, global expansion and technology development. OSL, a digital asset exchange approved by Hong Kong financial authorities, has launched the institution-focused payment platform OSL BizPay and introduced the dollar-based stablecoin USDGO. OSL also provides OTC trading, custody and tokenised asset management services.

Crypto

Solana validator count down 68 percent as node costs squeeze small operators

The number of validators on the Solana blockchain is dropping sharply, Cointelegraph reported on Jan. 29. Validator nodes fell 68 percent to 795 from 2,560 in March 2023, driven by higher operating costs and zero-fee policies by large validators. Some operators are leaving due to weaker profitability. The decline has lowered Solana’s Nakamoto coefficient to 20 from 31, indicating more concentrated staking, the report said.

AI & Enterprise

SAP shares slide 11 percent on slow fourth-quarter cloud contract growth

SAP shares fell 11 percent after fourth-quarter cloud contract growth slowed, marking the biggest decline since 2020, CNBC reported on Jan. 29. After a disappointing third-quarter earnings release, the stock had fallen 22 percent. CNBC said SAP’s cloud backlog rose to $2.35 billion but did not meet Chief Executive Christian Klein’s 26 percent growth target. SAP forecast cloud backlog growth in 2026 would slow slightly.