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Crypto

Nexchange launches fractional investment OTC exchange, appoints Jung Yoo-shin as CEO

Nexchange, a preparatory company set up to handle over-the-counter distribution of fractional investment products, has officially launched. Twenty-one institutions including Nextrade held its inaugural general meeting on Sept. 29 and appointed Jung Yoo-shin as the first chief executive. The company plans to begin trading products such as music intellectual property, aircraft engines and real estate loan receivables, and later expand to artworks, webtoons and performances.

Crypto

XRP rebound still sees $2.18 billion in short trades; smart money turns \'extremely bearish\'

XRP has rebounded from a recent low, but futures markets showed growing short bets, Decrypt reported. In the past 24 hours, short trading volume was $2.18 billion, slightly above long volume of $2.12 billion. While retail and whale positioning on Binance, OKX and Bybit skewed bullish, smart money indicators on Binance and Bybit were rated “extremely bearish,” with OKX an exception. Liquidations were dominated by short positions.

Crypto

Stablecoin salaries may leave workers to pay conversion and withdrawal fees

Workers paid in stablecoins may have to bear additional costs to convert, withdraw or transfer their wages before they can use the money for living expenses, a report said. While stablecoin payroll can lower cross-border remittance costs, fees and exchange rates could reduce take-home pay. Employers\' legal duties on wages, taxes and reporting remain. Exchange-rate swings, redemption limits and potential account restrictions can also affect access to funds.