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E-commerce Behemoth Amazon Launches Online Pharmacy Service in Bengaluru

Jeff Bezos led Amazon.com Inc has announced that it has launched an online pharmacy service in India that will, for now, service the southern city of Bengaluru. There are enough indications that this medicine delivery service will be trialed in other cities sometime later. Industry experts say that it is an excellent move by the e-commerce giant as they are hell-bent on expanding their reach in India’s fast-growing market. The online pharmacy service will be known as Amazon Pharmacy and intends to offer both OTC (over-the-counter) and prescription drugs, traditional herbal medicines, and health devices. However, despite these announcements, no timeline was given by the company for the actual launch of the service.

The move by Amazon comes in the middle of increasing competition with the Walmart owned Flipkart, the newly launched JioMart by billionaire Mukesh Ambani and a wide range of smaller players. Amazon has made significant progress in July as it opened as many as ten new warehouses and started offering auto insurance to the customers. Earlier, they also had secured all necessary clearances to deliver alcohol right at the doorstep in just one Indian state.

There are no concrete regulations for online drugs sale. Still, the rise and the rapid growth of e-pharmacies like 1mg, Medlife, and Netmeds have seriously threatened the very existence of the traditional medical stores in the neighborhood. No wonder many trader groups have raised objections about the surge in online pharmacies as their business revenue is bound to go down due to the large customer base of these e-pharmacies.

Trade analysts have opined that Amazon India could be exploring opportunities to acquire e-pharmacy startups as part of their expansion plan, but this news is not yet confirmed. Online pharmacies have seen a rapid rise in sales (as much as a 50% increase) in the last three months as people stayed home due to COVID-19 and to maintain social distancing. It now remains how Amazon India plans to roll out e-pharmacy services for the rest of the country.

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Business News

Crypto.com to Start Listing of Tezos (XTZ) at the Syndicate Platform

Crypto.com has decided to start listing Tezos (XTZ) at The Syndicate Platform, according to reports. With the listing, all the Crypto.com token (CRO) token stakers will be permitted to take part in a discounted sale for XTZ worth $500,000 at the 50 percent reduced price.

Reports state that the listing event is slated to begin from Tuesday, 17 March, this year at the Crypto.com Exchange.  

When it comes to Syndicate Allocation, every participating staker’s highest amount of CRO that will be utilized towards the listing event will be depending on the amount of CRO wagered on the Crypto.com Exchange.

For instance, if CRO staked is 10,000, then the maximum allocation in CRO will be equal to $100,000 worth of CRO, which is equivalent to 19,000 CRO.

As far as the Syndication Allocation subscription is concerned, the users of Crypto.com Exchange will be allowed to subscribe for XTZ tokens by paying an amount of CRO tokens not going beyond their maximum allocation.

It is worth noting that the staked CRO tokens would not be used to subscribe for XTZ tokens in the listing event.

The timeline of the listing event will start from Tuesday at 6 am from March 17, 2020, and last till Friday at 6 am March 20, 2020.

Syndicate Allocation Distribution: The participating stakers at the listing event will get their finalized XTZ token allocation at the Distribution Time.

It is interesting to note that XTZ tokens will be listed on the Cypto.com Exchange and App with the trading pairs mentioned below:

XTZ/BTC, XTZ/USDT and XTZ/CRO

Meanwhile, Crypto.com will have the right to terminate or alter The Syndicate campaign guidelines at its own behest. And, citizens and residents hailing from China, Hong Kong, USA will be barred from participating in the Syndicate campaign. 

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Business News

Dash Next Teams With Crypttp to Mainstream Network

Serving the Dash community with its unprecedented services, Dash NEXT has announced the news about its strategic partnership with leading crypto-based B2B payment service providing firm, Crypttp. The crucial news was circulated in the crypto world through an official Twitter post by Dash Thailand on their official handle.

In accordance with the official post, the two globally acclaimed firms, Dash NEXT and Crypttp, have joined hands to enhance the network capabilities of their individual ecosystems. The dedicated professionals and the technological expertise of both the leading platforms will help in enhancing the user experience of the global customer base of the two firms. Crypttp will render the Dash community with a seamless interface, which will eventually boost its adoption rate in the global markets.

Established as an efficient platform focused towards the catering of requirements of payment processors, merchants, exchanges, and websites, etc. with an aim to streamline crypto payments. The platform facilitates the integration of crypto wallets to business entities so that they can enjoy quick and simplified payments. The ready-to-use protocol solution assures the users with a secure, transparent, and speedy integration with crypto wallets.

Dash is a fast-expanding digital cash network which has been designed to bring a wider global population under the umbrella of regulated financial services. It bestows the customers with a secure, transparent, safe, and streamlined payment mechanism. The wide range of services offered by the platform allows users from across the globe to enjoy hassle-free access to the payment settlement network.

Recently, Dash introduced the latest version 0.15 of its core desktop wallet solution, which was infused with an array of enhanced and improved tools and features. The newly launched product fostered syncing of new nodes, PrivateSend updates that upgraded the mixing process, and many more. Also, Dash announced the news about its collaboration with BitFxt Exchange to support remittances to Nigeria at a minimal 1% cost.