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Weekly News Roundup: 14/10

Welcome to our weekly news roundup, of headlines which caught our eye. We’ll bring you a weekly dose of some of the most interesting titles which have surfaced, with a particular focus on the topics of crypto, banking and the metaverse.
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This week’s roundup will feature titles on the metaverse, cybersecurity attacks on defi platforms and banking technology. Join us and Managing Director of Unlimit BaaS, Jovi Overo, in the exploration of some of the biggest headlines of our industry.

  • Mango, the defi platform hosted on Solana blockchain was hacked in a cyberattack, causing them to face a loss of over $100 million. The MNGO token was down over 40% after suffering the exploitation, amid fears that the platform may be vulnerable. [source: CoinDesk]

Despite their potential, DEXs are still immature in terms of their evolution and come with their own set of security risks as evident by this hack – Jovi

  • Mark Zuckerberg’s Meta has partnered with Microsoft to bring Office 365 apps into the Metaverse. Termed as the ‘virtual office of the future’, the partnership is aimed to entice companies to work in virtual environments. [source: Coin Telegraph]

Meta’s partnership with Microsoft, along with many others, should breathe new life into Mark Zuckerberg’s vision of the metaverse. There is a dream of what this metaverse should look like and it will be realised. – Jovi

  • HSBC has co-created its new technology platform, Digital RF, with Trade Ledger to cut the approval process to under 48 hours for new receivables finance customers. [source: Fintech Futures]

Lending for SMEs is important for any economy. This solution which cuts times to cash and decision to 48h hours from up to 20 days, and also demonstrates the benefits of partnerships like HSBC and Trade Ledger highlights all that is good in the Fintech world. – Jovi

See you next week, back in the Unlimit BaaS blog for your next weekly news roundup.

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