One Million Wallets and Counting: Venom Blockchain’s Unprecedented Speed of Registration

FinanceFeeds Editorial Team

Venom Foundation, a leader in blockchain technology adoption in regulated markets, has achieved one million registered wallets as of July 25.

Venom Foundation

This impressive feat was accomplished in a very short time since Venom’s testnet launch on April 26th. The rapid growth reflects the increasing popularity and demand for Venom’s cutting-edge blockchain solutions, setting a new standard in the industry.

Venom’s success is driven by its groundbreaking technology, strict regulatory compliance, and secure, user-friendly platform that serves a wide range of users. Smooth operations and frequent updates on the Venom testnet also enhance its attractiveness, helping to draw and keep users.

In June alone:

● Venom processed a staggering 277 million transactions, a significant rise of 46% from the previous month.
● The platform witnessed a 65% increase in the number of accounts with smart contracts, which now amount to 28 million.
● The recent growth also encompasses a remarkable 93% jump in minted NFTs as part of on-chain/social tasks, reaching 5.8 million.

Venom’s vision to bring blockchain technology to the masses while following regulatory compliance remains the driving force behind its exponential growth. The organization’s steadfast commitment to research and development, transparency, and strategic partnerships has placed it at the leading edge of the industry.

It’s worth noting that the Venom Foundation is the first to receive a license to operate a blockchain, licensed by the Abu Dhabi Global Market (ADGM), demonstrating its compliance with international laws and rigorous governance standards.

Christopher Louis Tsu, acting CTO and CEO Venom Foundation commented:

““Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door.”

The landmark achievement of one million registered wallets, coupled with its substantial growth, signifies the increasing public trust in Venom and the recognition of the immense potential blockchain holds for creating a transparent, secure, and efficient alternative to traditional financial systems.

For more information about Venom Foundation’s technologies, framework, and potential platform uses, refer to the Foundation’s whitepaper.

The Venom Foundation provides scalable blockchain solutions for real-world applications, delivering performance and security. With a forward-thinking approach, the foundation envisions a future global economy where decentralized blockchain-based financial systems enable governments, businesses, and consumers to operate seamlessly, unlocking enhanced transactional capabilities. Recognizing the pivotal role of distributed ledger technology in shaping the economy, the foundation is committed to driving the next phase of financial evolution.

Read this next

Digital Assets

Bybit exits UK market ahead of regulatory changes

Bybit is suspending its cryptocurrency services for users in the United Kingdom due to impending regulations from the country’s Financial Conduct Authority (FCA).

Digital Assets

Binance argues SEC trampled authority set by Congress

Binance, Binance.US, and Changpeng Zhao have jointly filed to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June.


Oscar Asly replaces Rasha Gad as CEO of M4Markets Dubai

Seychelles-regulated brokerage firm M4Markets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

Retail FX

Capital Index UK reports mitigated loss despite revenue drop

FCA-regulated brokerage firm Capital Index (UK) Limited has released its annual financial report for the year 2022.

Digital Assets

Mike Novogratz’s Galaxy Digital expands in Europe

Galaxy Digital, the New York-based cryptocurrency financial services company founded by Mike Novogratz, is expanding its presence in Europe by appointing Leon Marshall as its first European CEO.

Metaverse Gaming NFT

Turingum Partners with MarketAcross to Drive Web3 Adoption in Global and Japanese Markets

Global blockchain PR leader MarketAcross joins forces with Japanese Web3 specialist Turingum to mutually expand its market reach, aiming to fortify Turingum’s worldwide footprint and MarketAcross’s presence in the lucrative Japanese blockchain landscape.

Digital Assets

Binance to delist all stablecoins in Europe next year

During a public hearing with the European Banking Authority (EBA), an executive from Binance said that the exchange could ultimately delist stablecoins from its European platforms by June 30, 2024.

Industry News

“Unconscionable conduct”: ASIC fines National Australia Bank $2.1m for overcharging customers

NAB faces a $2.1 million penalty for unconscionable conduct, as the Federal Court rules the bank knowingly overcharged customers, and took over two years to rectify the situation.