psp

ChainCatcher news, the cross-chain trading protocol ParaSwap has officially rebranded to Velora and launched a new governance token VLR to replace the original token PSP. With the launch of VLR, the functions of PSP in governance, staking, and rewards will cease immediately. The team stated that VLR will integrate into a single asset model, adopt a no Gas fee mechanism, and directly link rewards to protocol revenue through a unified staking center on Base, aiming for a more transparent and sustainable incentive model.PSP remains transferable and usable but will no longer receive official support. Users can migrate to VLR at a 1:1 ratio starting from September 16, with the migration window open for at least one year. Holders of PSP, sePSP 1, and sePSP 2 must complete the migration to continue participating in governance and rewards, with additional VLR rewards available for those who complete the migration by December 16. Velora claims to have processed over $125 billion in transaction volume, with a monthly trading volume exceeding $7 billion in August.

ChainCatcher news, the European Banking Authority (EBA) is the European regulatory body responsible for addressing vulnerabilities in the European banking sector. It has published two sets of guidelines, which include specific guidelines for Payment Service Providers (PSP) and Crypto Asset Service Providers (CASP). The guidelines will take effect on December 30, 2025.The EBA specifically outlines the measures that PSPs and CASPs must take to comply with EU and national sanctions regimes when transferring funds or cryptocurrencies. According to the EBA, these guidelines ensure the implementation of EU and national sanctions.The EBA stated: "This guideline clarifies how the sanctions policy and procedures interact with the broader governance and risk management framework of financial institutions to avoid operational and legal risks for financial institutions and ensure the effective implementation of sanctions."