Scallop Blog
  • Scallop Blog
  • 💼From the Desk
    • From CEO's Desk
      • The Evolution of Fintech: Global Trends and Future Prospects
      • Navigating Regulatory Challenges in the Crypto Space: Insights from a Fintech Pioneer
      • Regulatory Action Is Critical To Address The Immediate Risks In The Crypto Monetary System
      • Crypto Is The Future And Must Pass The Three Crucial Tests
      • Scallop’s 3 Commandments For A Safe And Secure Crypto Ecosystem
    • From CTO's Desk
      • Blockchain And The Convergence Of Banking And DLT
    • Updates
      • Scallop Obtains PSD Compliance For EU Banking Services
      • New Year’s Message from our CEO
      • Letter from the CEO: The Year Of New Beginnings
      • Scallop 2022: Our Year Long Journey With You
  • 📅Month-In-Review
    • 2021
      • June
      • July
      • August
    • 2022
      • January
      • February
      • March
      • April
      • June
      • July
      • August
      • September
      • October
      • November
      • December
    • 2023
      • January
      • February
      • March
      • April
      • May
      • June
      • July
      • August
      • September
      • October
      • November
      • Scallop’s Year in Review 2023: A Chronicle of Engagements and Milestones
    • 2024
      • January Spotlight: Unveiling Excitement for the New Year
      • February Spotlight
  • 🤝Partnerships
    • Adlunam
    • Blockchain for Europe
    • Carbon
    • Ceffu
    • Chainlink
    • Elfin Games
    • Pendulum
    • Uno Re DAO
  • 🎙️AMA's
    • Scallop AMA (Jan 26th, 2023)
    • Scallop AMA (17th Feb)
    • Scallop AMA (10th March, 2023)
    • Scallop X Bitmart
  • 🎊 Competitions and Events
    • Competitions
      • Scallop “Double-Up” Christmas Competition
      • Easter Giveaway
      • Win 12,000 SCLP With Trick or Treat
      • Scallop x TOKEN 2049 London — Competition
    • Events
      • Scallop unveils Beta-Product and Ledger partnership at Token2049 London
  • ⁉️FAQs
    • Getting started
    • Scallop App
    • Scallop Banking Security
Powered by GitBook
On this page
  • The FATF Travel Rule: Navigating Regulatory Compliance
  • ETHDenver: Fostering Innovation in Web3
  • Scallop Chain: AML compliance with RWA focus
  • A thriving creator community
  • Blockchain Security: Fortifying Infrastructure Against Threats
  • Scallop's Evolution: Pioneering Secure and Compliant Transactions
  1. Month-In-Review
  2. 2024

February Spotlight

PreviousJanuary Spotlight: Unveiling Excitement for the New YearNextAdlunam

Last updated 1 year ago

The short and sweet month of February has ended with $BTC crossing the $60,000 level. Does this mean we are looking at positive times ahead? Well, nobody has a definitive answer to that. While the market dynamics are not in our control, what is in our hands is to continuously grow and innovate. With this spirit, we welcome you to the latest edition of Scallop’s month in review article.

The FATF Travel Rule: Navigating Regulatory Compliance

At Scallop, we prioritise raising awareness on crucial issues within the crypto space to ensure users have the best possible experience. This month, we shed light on the Financial Action Task Force (FATF) Travel Rule, also known as Recommendation 16 for Virtual Assets. Aimed at combating money laundering and terrorist financing in virtual assets, the Travel Rule mandates Virtual Asset Service Providers (VASPs) to collect and share detailed information about the sender and recipient of virtual asset transfers. Wallets lacking proper KYC procedures face challenges in complying with this rule, impacting regulatory compliance, market access, and user trust.

ETHDenver: Fostering Innovation in Web3

Our CEO, Raj Bagadi, is attending the ETHDenver (Feb 23 - March 3) alongside Nilotpal Mukherjee, founder-Symbiote. Earlier this month, Web3 accelerator introduces its inaugural cohort of startups including Scallop. . Notably, ETHDenver is a community-owned innovation festival, dedicated to empowering the Web3 community and solidifying Colorado as a thriving hub of Ethereum and blockchain innovation. Discussions at the event range from topics like RWA, DePIN, infrastructure, to various projects within the crypto space.

Scallop Chain: AML compliance with RWA focus

Scallop received rave mentions on social media platforms, with a prominent crypto Twitter influencer highlighting the benefits of Scallop Chain and how it stands out in the RWA space. .

Speaking of Scallop Chain, it's important to emphasise that Anti-Money Laundering (AML) checks are integrated into the consensus layer. Explore the future of secure transactions with the . Our revolutionary consensus layer comes equipped with modules designed for Anti-Money Laundering (AML) compliance. This ensures that businesses can operate securely and confidently. Remember, every transaction undergoes thorough AML checks!

A thriving creator community

In February, our creator community witnessed growth, with new members joining the community spotlight. for the top creators who have contributed significantly to our ecosystem.

Blockchain Security: Fortifying Infrastructure Against Threats

Scallop's Evolution: Pioneering Secure and Compliant Transactions

With this, we conclude this edition of Scallop's monthly review. Keep innovating, keep creating. Until next time, continue to push the boundaries of possibility in the Web3 world!

As blockchain adoption continues to grow, cyberattacks pose a significant threat to blockchain technology. Hence, it is imperative to ensure a secure and resilient infrastructure. In one of our blogs, we discussed strategies to fortify blockchain security and resilience against potential threats. Read to find out

As the world's first public blockchain network supporting KYC & AML on-chain, Scallop Chain continues to pave the way for secure and compliant transactions. Web3 accelerator Symbiote has recognized Scallop's evolution from a Web3 Payment Suite to an all-in-one RWA Chain in one of their . Looking back, we are humbled by the progress we have made and the ground we have covered.

How to ensure the blockchain is secure?
posts
📅
Read our detailed Twitter thread here.
Symbiote
Raj joins fellow cohort founders from Nodeops and Zoth at ETHDenver
@blockchain_goat
Read his tweet here
Scallop Chain
Check out the Scallop’s leaderboard
Page cover image