Canadian project

Decentralized betting protocol Azuro has officially closed its seed round funding amounting to $3.5 million. This successful raising of funds is made possible with the help of true value adds on the venture and the strategic partner side.

The investors that participated in the seed round event of Azuro which are now partners of the network includes, Gnosis, Flow Ventures, Polymorphic Capital, who lead the round, and Ethereal Ventures, Arrington XRP Capital, AllianceDAO (a.k.a. DeFi Alliance), Delphi Digital, Meta Cartel Ventures, Merit Circle and Clever Advertising (a top 3 global sports betting media).

These groups of companies that put their trust in the platform are also experienced in the field of traditional betting infrastructure, sportsbetting lead generation and web3, GameFI, DeFi, and blockchain infrastructure. Ricardo Pinto (Clever Advertising) said,

Azuro’s approach to decentralized betting has been long-awaited by the community. Their decision to build a base layer of liquidity will lead to the project having a profound impact on many future related ventures. We are proud to take part and to grow with Azuro.
On the other hand, the betting markets on Azuro are created by importing odds (via oracles) for events in the real world, live betting data. This enables sports, events and markets that are related to them to get started with competitive odds. Tommy Quite (Merit Circle) explained,

To enforce its new regulation, the Monetary Authority of Singapore (MAS) allegedly decided to close crypto ATM services in the country on Tuesday.

In addition to this, the regulators aim to strictly regulate how companies promote and hype crypto advertisements mainly in Singapore. Meanwhile, before the announcement, the Central Bank released a guideline that bans crypto advertising services in public places, websites, and social networks.

The news brought a mixture of reactions among crypto ATM operators that offer their services in Singapore. Apart from ATM operators, crypto traders’ reactions and interest show that they’re also surprised by the news.

Additionally, Daenerys & Co commented that the news took them by surprise. Many crypto ATM operators including Deodi switched off their services prior to the announcement. Regardless of everything, Singapore has established a good reputation when it comes to crypto-friendly countries. Now, people keep doubting whether Singapore is gradually becoming unfriendly to crypto these days or not.

On the other hand, the news came a few days after Britain announced its initiative to crack down on the hyped and promotional crypto advertisements in the country. Lastly, there seems to be a huge speculation about countries that plan to ban crypto advertisements nowadays.