Arcane Crypto's portfolio company, LN Markets (ITOAM srl), launches synthetic USD feature.
LN Markets, the lightning based trading platform operated by ITOAM srl, and a portfolio company of Arcane Crypto AB (16% ownership), has launched a synthetic USD feature.
Users of the platform can now seamlessly swap between BTC and USD-balances for better risk management. The USD-balances are held in bitcoin but are rebalanced in real time to lock in a fixed USD-value, hence synthetic USD.
Developers of third-party services, such as bitcoin lightning wallets can leverage this feature through the public APIs of LN Markets.
"The addition of synthetic USD on LN Markets is an important development, both for the users of the platform and for the future use of bitcoin as a payment instrument. By enabling seamless hedging of bitcoin, LN Markets unlocks the possibility of separating the payment instrument from the payment rail. In other words, users will be able to keep USD as their unit of account, while leveraging the bitcoin lightning network as a superior cross border payment rail. This also put LN Markets into an even more central position in the Bitcoin Lightning ecosystem." - says Torbjørn Bull Jenssen, CEO of Arcane Crypto and board member of ITOAM srl.
About Arcane Crypto
Arcane Crypto AB is a holding company with broad exposure to the digital assets industry. The Company holds 100% stakes in K33, a research-led digital assets brokerage with investment services across EMEA, Arcane Green Data, an environmentally sustainable Bitcoin mining operation based in northern Norway, and minority stakes in both Puremarkets Ltd (37.5%), an interbank OTC market for digital currencies, and LN Markets (16%), a Bitcoin exchange built on the Bitcoin Lightning Network.
About LN Markets
LN Markets provides a leading trading platform for leveraged bitcoin and option trading, built on the Bitcoin lightning network and offering instant deposits of collateral from all over the world. For further information please see: https://lnmarkets.com/en
K33 is a research-led digital assets brokerage with investment services, helping clients across EMEA make informed decisions backed by industry leading digital assets research, enter the market guided by a multi-exchange brokerage service, and invest safely for the long term in tailored managed funds. K33 provides a unified platform where customers get access to Research, digital assets brokerages, funds, and structured products. The unified platform will be rolled out during Q4 2022 and into Q1 2023. The platform can be accessed both directly by customers on k33.com and through distribution partners and asset management firms that have signed up to offer the K33 platform as part of their investment offering.
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For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
e-mail: [email protected]
The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
Arcane Crypto AB announces an operational reorganization, unifying its growing private wealth businesses under a new business unit called K33.
In parallel Arcane has initiated a strategic review of its investment and venture business to exploit current market opportunities.
Third quarter of 2022 (compared to third quarter 2021)
- Group revenue decreased to 52,186 kSEK (81,166)
- EBITDA amounted to -7,336 kSEK (-6,059)
- EBIT amounted to -12,703 kSEK (-8,105)
- The result for the period amounted to -13,290 kSEK (-7,766)
- Earnings per share before dilution amounted to SEK -0.002 (-0.001) and after dilution to SEK -0.001 (-0.001)
Arcane Crypto bjuder härmed investerare, analytiker och media till en webcastpresentation som hålls av VD Torbjørn Bull Jenssen i samband med att bolagets delårsrapport för tredje kvartalet 2022 publiceras. Webbsändningen kommer att hållas tisdagen 8 november 2022 klockan 10:00.
Arcane Crypto hereby invites investors, analysts and media to a webcast presentation hosted by CEO Torbjørn Bull Jenssen in connection to the publication of the company's Interim Report for the third quarter 2022. The webcast will be held on Tuesday November 8, 2022 at 10:00 CET.
Arcane Crypto beslutar om en riktad kvittningsemission av aktier till Bulltech AS som tilläggsköpeskilling för förvärvet av Kaupang Krypto AS
Arcane Crypto resolves on a directed set-off issue of shares to Bulltech AS as an additional consideration for the acquisition of Kaupang Krypto AS
Second quarter of 2022 (compared to second quarter 2021)
- Group revenue decreased to 84,755 kSEK (100,372)
- EBITDA amounted to -20,604 kSEK (-1,484)
- Adjusted EBITDA -9,704 kSEK (-1,484)
- EBIT amounted to -55,740 kSEK (-2,547)
- The result for the period amounted to -56,272 (-7,056)
- Earnings per share before dilution amounted to SEK -0.007 (-0.001), and after dilution to SEK -0.006 (-0.001)
Arcane Crypto AB