DeFi News Daily Official TheBitTimes.com

A total of 47 countries have applied to join the BRICS alliance before the 2024 summit. Out of the 47 countries, only 26 nations have formally sent their application to be a part of the grouping. The other 21 countries have informally applied to join the bloc. The 16th summit is scheduled to be held from October 22 to 24 in the Kazan region of Russia. Also Read: BRICS Makes Huge Announcement On Expansion: New Country Will Join Soon For the first time, the extended nine-member bloc will meet at the summit and discuss global issues and trade. The development indicates that emerging economies find the BRICS alliance lucrative as they’ve kick-started the de-dollarization agenda. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. On the heels of the upcoming summit, BRICS member Russia has endorsed a new country to join the alliance. Russian Deputy Foreign Minister Sergey Ryabkov told reporters that the Putin administration is “ve...

Tether recently announced a “strategic alliance” with rhino .fi — formerly DeversiFi, formerly Ethfinex — which Tether claims will “improve liquidity” for rhino .fi’s bridging solution.  The genesis of rhino.fi is Ethfinex, a Tether sister firm spun out of Bitfinex with the goal of eventually creating a ‘trustless exchange.’ Eventually, the trading volume associated with this was merged back into Bitfinex and the on-chain trading of tokens became the domain of DeversiFi, which was more explicitly spun out of Bitfinex with a ‘management buyout.’  Despite this separation, DeversiFi and Bitfinex continued to collaborate closely, with Bitfinex and DeversiFi working together on a solution to transfer Tether tokens to DeversiFi’s layer-2 decentralized exchange.  Since then, DeversiFi has rebranded as rhino.fi, attempting to enable transactions in different tokens across various chains , including T...