Binance, Poloniex, Huobi, and MEXC are set to list Arbitrum ($ARB) for trading on March 23. Further, $ARB will also be added as a new borrowable asset on Binance's Isolated Margin on March 25.
Binance announced it would list Arbitrum ($ARB) and open trading for ARB/BTC and ARB/USDT on March 23 at 17:00 UTC.
#Binance is listing @arbitrum $ARB.
➡️ https://t.co/6YOugDSXrU pic.twitter.com/jnamYKI71U
As reported, ARB will be available for trade once the official token claiming happens at the Ethereum block height of 16,890,400, estimated to occur on the same day at 12:30 UTC. Further, ARB withdrawals are tentatively scheduled to open at 17:00 UTC.
Binance will also add ARB as a new borrowable asset on an Isolated Margin on March 25 at 17:00 UTC.
In addition to Binance, other prominent crypto exchanges also announced to list $ARB. Poloniex has announced listing Arbitrum ($ARB) on the day of its airdrop. Deposits for ARB will be accepted 12:00 UTC on March 23, 2023, and ARB/USDT trading will begin on the same day, although the exact time is yet to be announced.
In addition, the token will also be listed on Huobi and MEXC on March 23. On Huobi, Arbitrum tokens will also be able to be traded against USDD, an algorithmic stablecoin from TRON DAO, in addition to USDT.
Additionally, BitMEX announced a futures ARB token on Sunday. Currently, the token is trading at $1.343, up 3.3% in 24 hours.
The most popular L2 network Arbitrum announced last week that it’s launching its ARB token on March 23 and airdropping over 11% of the supply to Arbitrum’s users.
It is expected that the Arbitrum token airdrop will significantly impact the crypto community this year. With $1.75 billion in TVL, Arbitrum ranks fourth among all chains, according to DefiLlama. Furthermore, the TVL on Arbiturm has grown from $1.54 billion at the start of the year to $2.85 billion – an 85% increase. As for volume on decentralized exchanges in the last 24 hours, Arbitrum is second only to Ethereum (ETH), with $924.82 million.
There are less than three days left until ARB's airdrop, and crypto users speculate about its value. Some predict that $ARB will be valued at $15 after Binance and other exchanges list the coin, which would make $ARB one of the most valuable cryptocurrencies.
Arbitrum is an Ethereum layer-2 network that enables developers to build and deploy highly scalable smart contracts at low cost. You can use Arbitrum chains to do everything you do on Ethereum — use Web3 apps, deploy smart contracts, etc., but your transactions will be cheaper and faster. The flagship product for the team, Arbitrum Rollup, is an Optimistic roll-up protocol that inherits Ethereum-level security.
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This "live" CBDC issuance specifically designed for wholesale settlement purposes represents a significant step forward in testing the viability and efficiency of digital currencies in interbank transactions
The Monetary Authority of Singapore (MAS) is gearing up to launch trials for a wholesale Central Bank Digital Currency (CBDC). This initiative aligns with MAS's broader vision to facilitate secure and efficient payments through innovative digital solutions.
The first pilot will involve using this CBDC to settle retail payments between commercial banks. This step aims to demonstrate the viability and efficiency of CBDCs in interbank transactions.
Ravi Menon, Managing Director of MAS, emphasizes the importance of wholesale CBDC issuance in reinforcing the central bank's pivotal role in facilitating secure and efficient payments.
The wholesale CBDC trials form a crucial component of MAS's three-pronged approach to ensure the safe and innovative use of digital money in Singapore. Alongside the CBDC trials, MAS is advancing the Orchid Blueprint, outlining the technology infrastructure for future digital money transfers. Singapore will host the Singapore FinTech Festival 2023, which will feature the first trial of tokenized bank liabilities for retail payments.
Additionally, a set of four trials, including the tokenization of bank liabilities for retail payments, is set to be tested in collaboration with industry players.
Moreover, MAS announced five industry pilots under Project Guardian on Oct. 15. By partnering with key financial institutions, this collaborative initiative can expand asset tokenization initiatives and develop foundational capabilities essential for scaling tokenized markets, according to reports.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
