October

Hope you all had a great month! This month was filled with exciting updates for you. From our partnership with Binance Custody to new crypto trading contests. We want to thank our community for their never-ending support and love. Thank you for your belief in our project, your positive response helps us to achieve more! Without further ado, let’s get into the monthly wrap-up and see what we have accomplished this month!

Binance Custody (now known as Ceffu) Partnership

First off, this month we have celebrated our partnership with Binance Custody! This partnership will protect Scallop users’ digital assets with institutional-grade security provided by Binance. it’ll also benefit from accessing the Binance ecosystem’s deep institutional liquidity venues.

BSC news, Smart Liquidity and others covered the partnership!

PSD compliance for EU banking services

More good news! Scallop has successfully attained Payment Services Directive (PSD) compliance for its digital banking services in the EU. This means that customers in these regions can now access banking services through Scallop’s online and mobile platforms with safety, security and regulations!

Crypto Trading League

Participants competed to see who can make the most profits from trading SCLP on Scallop Exchange. The top 50 traders with the highest net profits won prizes. The competition began on October 3, 2022, ended on October 10, 2022.

There were 2 categories to compete in and the winners grabbed their share from a prize pool of 50.000 SCLP. Thank you, everybody for the huge interest and participation! Tune in to our social media channel for more competitions.

Scallop Celebrates 1 Year!

This month, we have celebrated our 1 year anniversary and to thank our community, we are hosting a Gleam contest. We are giving away a ticket to Token2049 event and Scallop merchandise. Our CEO Raj Bagadi has written a letter to our community to outline this incredible journey!

2000+ banking users

If you follow us, you’d know that we recently we have opened our whitelist to grant exclusive access to our app to our users. We are more than happy to announce that we have onboarded more than 2000 users this month!

You can also apply here

Meet us at Token2049 London

Our CEO, Raj Bagadi will be speaking at Token2049, event in London. This event is an excellent forum for discussion of the tremendous prospects in the sector. Don’t forget to visit our booth and say hi to us if you participate in the event!

Crypto Oasis Report

The Crypto Oasis Ecosystem Report 2022 for the UAE went live and Scallop was mentioned! It’s great to be included in this report that provides insights about the industry. Download your copy here!

From The C-Level

This month our executive floor has written articles about their opinions about the blockchain and banking industry from a their perspective

CEO, Raj Bagadi has written about regulatory systems and policymakers’ role in regulating crypto monetary systems and provided some solutions to the potential problems that users face in the ecosystem.

CTO, Soren Stammers talked about blockchain and the convergence of Banking and DLT. he examined the FinTech industry and its prospects. He explained how Scallop Chain is the perfect solution that could be integrated into this system.

Discord Gaming Event: Play & Win with Scallop

This month, we had an amazing time while we hosted the first ever Play & Win with Scallop! Our community members had a friendly battle on our Discord server and the winners won their share of the 2500 SCLP prize pool. Don’t forget to join our Discord server for more information on Play & Win with Scallop. Maybe you’ll be the next winner!

Trick or Treat: Scallop Exchange

We had a rather spooky season this month! We gave away 1000 SCLP to lucky winners who traded 250+ USDT on Scallop Exchange. The campaign lasted from 28th October to 31st October.

New Scallop Learn Article

Last but not least, we have published a new Scallop article: DYOR (Do Your Own Research) to help crypto beginners to grasp this concept that would help them in the ecosystem. Read it here!

Product Updates

• Scallop Chain is in the final stage of testing with transaction time as 1 second, 5000 TPS

• We launched our app to investors with the following functionalities: Crypto wallets with support of BTC, ETH, BNB, DOT, MATIC, USDT and more! Buy crypto functionality with our market BUY and SELL

• Scallop Exchange crosses 50,000+ users