· 3 min read Today in Crypto: Jack Dorsey’s Block Acquires Music-Centric Startup Hifi, VALR Exchange Partners With Visa, DFINITY Developing Blockchain-based Recycling-focused Tech Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.Investment news [Block](https://cryptonews.com/news/jack-dorseys-block-q2-revenue-soars-55-billion-led-by-strong-bitcoin-sales.htm), the fintech firm founded by Jack Dorsey, has acquired the music-centric startup Hifi, [according](https://www.linkedin.com/feed/update/urn:li:activity:7117886605385719809/)to Hifi founder and CEO Damian Manning.The deal is “furthering our shared purpose of economic empowerment,” Manning wrote.This is Block’s – formerly Square – second investment in the music tech sphere after buying the music streaming service Tidal in 2021.The deal terms have not been shared.
Payments news – VALR, the largest South African crypto exchange by trading volume, announced a strategic partnership with [Visa](https://cryptonews.com/news/breaking-payments-firm-visa-begin-using-solana-blockchain-for-stablecoin-settlements.htm), for the issuance of Visa cards and delivery of other digital payment solutions, said the press release.VALR recently obtained approval to offer crypto services in [Europe](https://cryptonews.com/news/french-regulator-concludes-defi-public-consultations-views-ecosystem-as-disintermediated.htm)and is in the process of obtaining licenses in [Dubai](https://cryptonews.com/news/solana-joins-dubais-largest-free-trade-zone-to-foster-web-3-adoption.htm), [Mauritius](https://cryptonews.com/tags/mauritius/), and [South Africa](https://cryptonews.com/tags/south-africa/).
The VALR-Visa partnership follows other Visa partnerships with major global crypto asset service providers such as [Coinbase](https://cryptonews.com/exclusives/coinbase-card-adds-six-countries-more-to-come-in-the-coming-4030.htm), [Crypto.com](https://cryptonews.com/reviews/crypto-com/), and [Circle](https://cryptonews.com/news/visa-makes-stablecoin-push-with-circle-s-usdc-8500.htm).Blockchain news – After announcing the Voluntary Recycling Credits (VRC) standard to address the growing global waste issue last June, global management consultancy Roland Berger partnered with [The DFINITY Foundation](https://cryptonews.com/tags/dfinity/), a Swiss-based not-for-profit organization and a major contributor to the [Internet Computer Blockchain](https://cryptonews.com/tags/internet-computer/).[According](https://www.mynewsdesk.com/rolandberger/pressreleases/roland-berger-partners-with-the-dfinity-foundation-for-blockchain-powered-voluntary-recycling-credits-standard-to-transform-waste-management-3279666)to the press release, through this partnership, The DFINITY Foundation will develop the underlying technology for the first global standard to incentivize recycling activities – based on blockchain, thus ensuring secure, transparent tracking of offset activities.According to the press release, “the incorporation of blockchain technology into the VRC standard is not merely an advancement, but a foundational element critical for its success.” – Acme, founded by Nilesh Khaitan, Principal Technical Program Manager at [Venmo](https://cryptonews.com/tags/venmo/), is [building](https://twitter.com/AcmeOneTap/status/1713882279783596390)an intent-based network to simplify on-chain transactions to OneTap, a press release said.”Acme’s experience makes on-chain transactions accessible to non-crypto natives, and empowers developers to simplify and secure digital asset transactions for their users with One API call,” it added.It is backed by self-custody platform and infrastructure provider Safe’s Account Abstraction SDK, Safe{Core}, and web3 infrastructure platform Gelato’s Gasless Relayers.Safe{Core} SDK guarantees the security of each on-chain intent propagated via Acme’s network, and Gelato abstracts gas fees, making on-chain transactions smooth and hassle-free, it said.
Acme’s beta launch is marked by [distributing](https://twitter.com/AcmeOneTap/status/1713653612683931977)free NFTs to 200,000+ non-crypto native attendees as part of the OneTapToSaveAmazon campaign.Exchange news [KuCoin](https://cryptonews.com/news/kucoin-crypto-exchange-ceases-bitcoin-litecoin-mining-pool-services-whats-going-on.htm)announced the launch of Pre-Market Trading, described as “the first in the industry over-the-counter ( [OTC](https://cryptonews.com/tags/otc/)) trading product among CEXes that allows users to trade new tokens before they are officially listed.” [Per](https://www.businesswire.com/news/home/20231016634649/en/KuCoin-Launches-Pre-Market-Trading-First-in-the-Industry-OTC-Product)the press release, this feature is a spot trading product that provides an early access advantage to both retail investors and professional users/institutions, who can secure shares before listing or locking in selling prices in advance.
Celestia is the first featuring project of Pre-Market Trading: users will have early access to its native TIA token with the advantage of assuring selling prices in advance, the exchange said.[Bitget](https://cryptonews.com/news/bitget-unveils-100m-fund-expand-ecosystem-foster-strategic-partnerships.htm)unveiled its latest monthly Proof of Reserves (PoR) report, with its total reserve ratio of 207%.[According](https://www.prnewswire.co.uk/news-releases/bitget-demonstrates-ongoing-commitment-to-transparency-with-207-reserve-ratio-in-monthly-por-report-301954786.html)to the press release, user funds are fully backed 1:1 and available on demand.As of the data collected on October 10, the total value of cumulative reserves exceeds $1.38 billion, encompassing 31 prominent digital assets, including [BTC](https://cryptonews.com/news/grayscales-etf-aspirations-get-boost-as-sec-abandons-appeal-bitcoin-price-moon.htm), [ETH](https://cryptonews.com/news/time-dump-ethereum-eth-buy-bitcoin-btc-3-reasons-why-that-might-good-idea.htm), [USDT](https://cryptonews.com/news/usdt-issuer-tether-appoints-paolo-ardoino-as-new-ceo-whats-going-on.htm), [USDC](https://cryptonews.com/news/stablecoin-issuer-circle-pushes-for-usdc-adoption-in-the-philippines-whats-going-on.htm), and others.The reserve ratios have consistently been surpassing 200% for the past nine months, doubling the industry standard of 100%, the exchange said.
Bitget also established a $300 Million Protection Fund, as an additional safeguard to protect the users from potential losses arising from compromised accounts, unforeseen loss of assets, or extraordinary market events..
