OKEx Announces New Initiative to Develop Global Compliance Standards For Cryptocurrency Exchanges

OKEx, a Malta-based digital assets exchange, announced on Friday the launch of its new initiative to create a Self-Regulated Organization (SRO) aimed at standardizing cryptocurrency exchange practices and policies. The initiative was announced at the DELTA Summit by Enzo Villani, a former Nasdaq executive who joined OKEx as the company’s Head of International Strategy and Innovation.

“This SRO will be an independent, membership-based organization that is neutral and open to exchanges of all sizes and jurisdictions. Member exchanges will work together to define and adopt standards that will promote digital asset adoption globally, educate governments and regulators, and develop metrics and criteria for trading, listings, and reporting.”

While sharing more details about the initiative, Andy Cheung, Head of Operations for OKEx, stated:

“Cryptocurrencies are global and decentralized, and the industry remains nascent, thus regulations by jurisdiction are not enough. The only way for exchanges to grow and deliver impact is by joining together to develop practices and policies that will set a global standard and adapt to regional regulatory frameworks.”

OKEx also noted that it invites other exchanges to join the company in establishing standards for market-making, listings, delistings of digital assets, and other items critical to the growth of the entire industry. Enzo Villani, Head of International Strategy and Innovation at OKEx, added:

“While other organizations have introduced initiatives to elevate standards for crypto exchanges, most are focused on one jurisdiction. We applaud their efforts and OKEx will determine which ones are important to our customers. Our initiative is focused on creating a global SRO that can provide international standards. We are in discussions with other exchanges and market participants to join us in formalizing a global SRO.”

Update: Italian Crypto Exchange Young Platform Completes Seedrs Round With More Than €787,000 Raised

Italy-based cryptocurrency exchange platform, Young Platform, has closed its equity crowdfunding campaign on Seedrs with a total of €787,480 in funding secured. The funding round was launched on the equity crowdfunding platform earlier this summer and quickly secured its initial €500,000 funding target while attracting 751 investors.

As previously reported, Young Platform is on a mission to make crypto accessible for everyone. The exchange further explained:

“Our first step on this journey has been the development of Stepdrop, the app that allows to convert the steps you take during the day in Young, our own cryptocurrency. Stepdrop has been conceived to draw the largest number of people possible to this new world. With the Young you collect on Stepdrop, you can purchase products and services on the Marketplace section of our app.”

Since its launch last year, Young Platform has achieved the following:

  • 2 successful capital injections from Angel Investors
  • 54,000 Stepdrop app download in 4 months (in Italy)
  • 15,000 active users per week on the Stepdrop app
  • Technology Partnership with Modulus, an exchange developer, for patented technology to enhance the system security
  • Team expansion, from 6 full-time employees to 17 people

Speaking about the investment round, Diego D’Aquilio, CMO and Head of International Development at Young Platform, stated:

“With the campaign just wrapped up, the results proved our choice was good. Thanks to 751 Italian and British investors, we raised 787,480 Euros, 57% more than our initial target of 500,000 Euros. Looking at the details, it should be noted that compared to a median investment of about 1,000 Euros, there were at least 13 investments above 25,000 Euros, demonstrating that our approach to this industry manages to keep together large institutional investors and small traders, who constitute the heart of our community and our best influencers.”

Funds from the Seedrs round will be used to her new international resources that will help expand its team, as well as pay for the platforms infrastructure and all of the licenses needed to operate in new territories.

Update: Italian Crypto Exchange Young Platform Nears €800,000 During the Final Hours on Seedrs

Italy-based cryptocurrency exchange platform, Young Platform, is set to close its Seedrs campaign with nearly €800,000 in funding. The funding round was launched on the equity crowdfunding platform earlier this summer and quickly secured its initial €500,000 funding target. It has attracted more than 700 investors.

As previously reported, , Young Platform is on a mission to make crypto accessible for everyone. The exchange further explained:

“Our first step on this journey has been the development of Stepdrop, the app that allows to convert the steps you take during the day in Young, our own cryptocurrency. Stepdrop has been conceived to draw the largest number of people possible to this new world. With the Young you collect on Stepdrop, you can purchase products and services on the Marketplace section of our app.”

Since its debut last year, Young Platform has achieved the following:

  • 2 successful capital injections from Angel Investors
  • 54,000 Stepdrop app download in 4 months (in Italy)
  • 15,000 active users per week on the Stepdrop app
  • Technology Partnership with Modulus, an exchange developer, for patented technology to enhance the system security
  • Team expansion, from 6 full-time employees to 17 people

Funds from the Seedrs round will be used to her new international resources that will help expand its team, as well as pay for the platforms infrastructure and all of the licenses needed to operate in new territories.

Young Platform is offering investors 5.56% in equity at an €8.5 million pre-money valuation.

Binance Announces New Open Blockchain Project “Venus”

Cryptocurrency exchange Binance announced on Monday its new open blockchain project, called Venus. According to Binance, Venus is described as an initiative to develop localize stablecoins and digital assets pegged to fiat currencies across the globe.

“Binance is looking to create new alliances and partnerships with governments, corporations, technology companies, and other cryptocurrency companies and projects involved in the larger blockchain ecosystem, to empower developed and developing countries to spur new currencies.”

Binance also reported that with its existing global blockchain ecosystem, the platform has already reserved its public chain technology and cross-border payment system for secure operations of new stablecoins.

“Since its launch last April, Binance Chain has been running securely and robustly and has issued a range of stablecoins, including a BTC-pegged stablecoin (BTCB) and the Binance BGBP Stable Coin (BGBP) pegged to the British Pound.”

Binance added it will provide full-process technical support, compliance risk control system and multi-dimensional cooperation network to build Venus, leveraging its existing infrastructure and regulatory establishments.

Bitcoin.com Announces Upcoming Exchange Launch

Bitcoin.com announced on Thursday its plans to launch a new cryptocurrency exchange on Monday, September 2nd. According to Bitcoin.com, the exchange will offer a user-friendly place to trade with a clean, simple interface to promote easy navigation, along with high-liquidity and a powerful matching engine to support fast trading.

Bitcoin.com reported that traders will be able to trade against some of the most popular base currencies including Bitcoin Cash (BCH), Bitcoin Core (BTC), Ethereum (ETH), and Tether (USDT). These will give users the chance to exchange a broad array of digital assets through dozens of different trading pairs. While sharing more details about the exchange, Bitcoin.com Executive Chairman, Roger Ver, stated:

“We’re always working to make Bitcoin Cash and other digital assets more accessible to everyone. Back in June, we released Local.Bitcoin.com where you can buy and sell Bitcoin Cash specifically. Now, with The Bitcoin.com Exchange, you can diversify your cryptocurrency portfolio, too.”

Bitcoin.com’s exchange also seeks to reassure traders. Ver added:

“Bitcoin.com has been around the space for many years now and we hope that the quality products we’ve already built—our wallet, our merchant app, and so on—help to reassure users and remind them that we’re an established brand they can trust.”

Overfunding: Italian Cryptocurrency Exchange Young Platform Surpasses €500,000 Funding Target on Seedrs

Just days after launching its equity crowdfunding campaign on Seedrs, Italy-based cryptocurrency exchange platform, Young Platform, has successfully secured its initial €500,000 funding target. As previously reported, Young Platform is on a mission to make crypto accessible for everyone. The platform further explained:

“Our first step on this journey has been the development of Stepdrop, the app that allows to convert the steps you take during the day in Young, our own cryptocurrency. Stepdrop has been conceived to draw the largest number of people possible to this new world. With the Young you collect on Stepdrop, you can purchase products and services on the Marketplace section of our app.”

Since its launch in 2018, the platform has already achieved the following:

  • 2 successful capital injections from Angel Investors
  • 54,000 Stepdrop app download in 4 months (in Italy)
  • 15,000 active users per week on the Stepdrop app
  • Technology Partnership with Modulus, an exchange developer, for patented technology to enhance the system security
  • Team expansion, from 6 full-time employees to 17 people

Funds from the Seedrs round will be used to her new international resources that will help expand Young Platform’s team, as well as pay for the platforms infrastructure and all of the licenses needed to operate in new territories. the company added:

“We will also use the funds to accelerate the pace of the development of our products. Currently, some services will be made available in the Young ecosystem via partnerships with licensed third-parties. The chart below displays the breakdown of spending by area.”

The funding round is currently set to close mid-August.

Italian Crypto Exchange Young Platform Now Seeking €500,000 on Seedrs

Young Platform, an Italy-based cryptocurrency exchange platform, is now seeking 500,000 through equity crowdfunding platform Seedrs. Started in 2017 (launched in 2018), Young Platform is on a mission to make crypto accessible for everyone.

“Our first step on this journey has been the development of Stepdrop, the app that allows to convert the steps you take during the day in Young, our own cryptocurrency. Stepdrop has been conceived to draw the largest number of people possible to this new world. With the Young you collect on Stepdrop, you can purchase products and services on the Marketplace section of our app.”

In just one year, Young Platform has been able to achieve:

  • 2 successful capital injections from Angel Investors
  • 54,000 Stepdrop app download in 4 months (in Italy)
  • 15,000 active users per week on the Stepdrop app
  • Technology Partnership with Modulus, an exchange developer, for patented technology to enhance the system security
  • Team expansion, from 6 full-time employees to 17 people;
  • Presence in London (at Level 39), Turin and Tallinn (Estonia)
  • Growing community on multiple social media channels (incl. Telegram, Facebook Ambassador Group)

The Young Platform team also revealed:

“Because the customer acquisition cost is very low (on average 0,10€), we were able to bring the cryptocurrency world closer to a new target audience that showed interest on the subject and even participated in our online Educational program. Our educational blog has been read by over 26,000 users.”

In regards to what the funds from the Seedrs round will be used for, the team added:

“The equity raised will be used to hire new international resources that will help to expand our team, pay for our infrastructure and all relevant licences needed to operate in new territories and accelerate customer acquisition on a global scale.  We will also use the funds to accelerate the pace of the development of our products. Currently, some services will be made available in the Young ecosystem via partnerships with licensed third-parties. The chart below displays the breakdown of spending by area.”

Since its launch, the campaign has raised more than €435,000 from 170 investors. It is set to close mid-August.

Coinbase Update: Customers May Now Earn DAI By Watching Lessons/Completing Quizzes About DAI & Features

Cryptocurrency exchange platform Coinbase announced on Monday that customers around the world can start earning DAI by watching lessons and completing quizzes about DAI and its features. According to Coinbase, DAI is the first stablecoin to be made available through Coinbase Earn.

“According to the DAI whitepaper, DAI is a decentralized stablecoin running on Ethereum and designed with a goal of maintaining a target value of approximately $1 USD. DAI is backed by collateral on the Maker (MKR)platform. The relevant whitepapers explain that MKR and DAI tokens form a paired set of assets in which MKR provides governance, and DAI is a decentralized, collateral-backed stablecoin.”

Coinbase went on to add that it expects earning to become an increasingly important function in the crypto ecosystem — alongside buying, staking, voting, and mining,  especially when paired with education

Binance’s Singapore Cryptocurrency Exchange Goes Live

Binance, the world’s largest cryptocurrency exchange by volume, has officially launched its services in Singapore. According to TechCrunch, the launch of the service comes just six months after the crypto exchange received an investment from Vertex, a VC firm that is backed by Singapore-based sovereign fund Temasek. Binance has notably been testing its services in Singapore since late 2018 and has been working with Singapore regulator, MAS.

Binance describes itself as a blockchain ecosystem comprised of Exchange, Labs, Launchpad, Info, Academy, Trust Wallet, and Blockchain Charity Foundation (BCF). The exchange also claims it is one of the fastest and most popular cryptocurrency exchange platforms in the world, capable of processing over 1.4 million orders per second. Binance also focuses on security, robustness, and execution speed, which attracts enthusiasts and professional traders alike.

“The Binance exchange provides access to hundreds of digital currency pairs, while maintaining security, liquidity and high-speed. The platform offers some of the lowest trading costs in the industry at 0.1% or even less through the use of Binance Coin. The exchange strives to give its users access to some of the latest blockchain/DLT technologies with new cryptocurrencies being listed all the time.”

TechCrunch also reported that Binance’s Singapore launch is the exchange’s third launch, with exchanges now available in Uganda and Jersey. The Singapore exchange allows customers to purchase Bitcoin only and at fixed prices.

Coinbase Announces Crypto-to-Crypto Support Expansion to More Than 10 Countries

Cryptocurrency exchange Coinbase announced on Wednesday it is expanding its crypto-to-crypto support to more than 10 countries around the world, with the total amount of countries being offered the support now up to 53.  The platform revealed: 

“One year ago, Coinbase served customers in 32 countries across two continents. Over the past 12 months, one of our main priorities has been to bring Coinbase services to people in all corners of the globe. Today we’re excited to welcome 11 more countries across Latin America and Southeast Asia to the cryptoeconomy by allowing customers to store, trade, send, and receive cryptocurrencies on Coinbase Pro and Coinbase.com — increasing the reach to 53 countries, spread across four continents.”

Coinbase also reported that direct trading between cryptos is increasingly the new norm and in the last year has overtaken traditional fiat to crypto trading across the globe. Coinbase customers may now securely and quickly trade between different cryptos and send crypto off-platform at their convenience.

“As crypto moves from the current ‘investment phase’ into what we call the ‘utility phase,’ a host of new use cases will present themselves. This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”

Coinbase went on to add that customers in Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand may now sign up on for its platform service and download its iOS and Android apps

eToroX Launches Crypto Exchange & 8 Fiat-Stablecoins

eToroX, the blockchain division of global investment company eToro, announced on Tuesday the launch of its crypto exchange – a secure and regulated trading venue offering a range of cryptoassets, as well as a suite of stablecoins. At launch, the exchange will have a range of instruments including:

  • 8 fiat-stablecoins (eToro New Zealand Dollar (NZDX), eToro Japanese Yen (JPYX),  eToro Swiss Franc (CHFX), eToro United States Dollar (USDEX), eToro Euro (EURX), eToro Pound Sterling (GBPX, eToro Australian Dollar (AUDX), eToro Canadian Dollar (CADX)
  • 6 cryptos (Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), BitcoinCash (BCH) and Litecoin (LTC)
  • 37 pairs including BTC-USD, XRP-GBP etc.

eToroX also reported that the launch of the exchange is a “natural next step” in eToro’s blockchain journey which began with the work with Colored Coins in 2012. Yoni Assia, Co-founder and CEO of eToro, stated:

Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance. Blockchain will eventually ‘eat’ traditional financial services through tokenization.”

Doron Rosenblum, Managing Director of eToroX, added:

“We are proud to be one of the first companies in the world to obtain a license for cryptoassets, and one of only a handful of regulated exchanges in the crypto space. In the coming weeks and months we will add more cryptoassets, stablecoins and tokens to the exchange and will work with other exchanges to encourage them to list our growing range of stablecoins.”

eToro is notably one of the first regulated financial companies to offer crypto, enabling users to trade bitcoin in 2014 and today has 15 cryptoassets on the eToro platform.

Global Crypto Platform Liquid Completes Series C Funding Round That Brings Company Valuation to More Than $1 Billion

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Global cryptocurrency exchange Liquid announced on Wednesday it completed its Series C funding round, which brought the Japan-based company’s valuation to more than $1 billion. According to Liquid, the investment round was led by IDG Capital with participation from Bitmain.

Founded in 2014, Liquid by Quoine describes itself as a cryptocurrency platform that is providing liquidity to the crypto economy. The platform supports fiat and dozens of cryptocurrencies. Liquid also claims it is one of the largest exchanges in Asia.

“Our ultimate mission is to revolutionize banking and financial services and to bring financial services to the un/under-banked. To reach our goal, we are building the ultimate banking and finance platform using exciting cutting edge technologies.”

Liquid previously raised more than $20 million from venture funding, which includes Japanese investment firms JAFCO, SBI, B Dash Ventures, Mistletoe, and ULS Group. In 2017, Liquid raised more than $100 million in a pre-discounted ICO raise, which was the first regulated ICO to be done in Japan. Speaking about the latest investment round, Liquid CEO, Mike Kayamori, stated:

“As we enter into a new age of digital disruption in financial services, consumers are increasingly placing a higher value on digital assets and technologies they can trust and use with greater ease. Our vision is to make financial services accessible to all, which means bringing more people into the digital asset space so that anyone can be a part of it. This first round of Series C funding from our two highly respected investors, IDG Capital and Bitmain, puts us in an incredibly strong position to make a global impact in 2019.”

Liquid did not disclose the total amount raised through the Series C funding round.

Crypto Exchange Covesting Announces First Listing

Covesting, a cryptocurrency exchange and trading platform, announced on Tuesday the first listing on the platform. According to Covesting, DigiByte token becomes the first ever listing under the supervision of Covesting and GFSC. Covesting explained:

“DigiByte (DGB) is a rapidly growing global blockchain with a focus on cybersecurity for digital payments & decentralized applications. Over 5 years, DigiByte has become the world’s fastest, longest and most decentralized UTXO blockchain today.”

Founded in 2017, Covesting is described as a cryptocurrency exchange and a trading platform that offers a complete and secure infrastructure for investors and traders. The launch of the DigiByte on the crypto platform comes less than six months after Covesting received its Distributed Ledger Technology License (DLT) from regulatory authorities in Gibraltar.  

Covesting reported that the DLT License puts its exchange in a unique and strategically advantageous position within the cryptocurrency markets, as it will make the exchange significantly more likely to onboard institutional clients and high-net-worth individuals who want to invest on a fully regulated platform. At the time, Covesting’s Founder and CEO, Dmitrij Pruglo, stated:

“Receiving a DLT Providers license is a huge milestone for us as a company and as a community. To establish a new standard for crypto exchanges, to work in a regulated environment, to use the best practices, and to set a new industry benchmark are the goals we defined for ourselves at the very beginning of our journey. We are happy to be incorporated and licensed in Gibraltar, a jurisdiction in which the industry is supported by the government and service providers.”

Crypto Exchange Gemini Announces Mobile App Launch For Android & iOS

U.S. cryptocurrency exchange Gemini announced on Thursday the launch of its mobile app for Android and iOS. As previously reported, Gemini was founded by Cameron and Tyler Winklevoss, who are the former Olympic rowers that once sued Mark Zuckerberg, claiming he stole the idea for Facebook from them. The brothers notably started the Gemini exchange in 2014, and it is now among the top 100 crypto exchanges by trade volume.

According to Gemini, the mobile app combines the crypto exchange’s institutional-grade security with a simple and intuitive experience designed to make trading on the go easy. Other features include:

  • Buy and sell cryptocurrency
  • View market prices and portfolio value
  • Set price alerts
  • Set recurring buy orders
  • Buy The Cryptoverse (i.e., basket orders)
  • Send and receive cryptocurrency

While sharing more details about the app, Cameron, who is also President of Gemini, added:

“We’ve spent the last three years building the world’s most trusted cryptocurrency platform and today we are excited to extend it into the hands of our customers. Cryptocurrency never sleeps so it’s important for us to make it easy for our customers to engage with it wherever they are and whenever they want.”

The launch of the mobile app comes just a couple of months after it was revealed that the Winklevoss brothers were looking to expand to the UK, even though the founders previously expressed determination to remain in New York despite what many regards as onerous regulations of the finance sector there. The exchange has made it part of its brand and long-term strategy to be regarded as a particularly compliant operator.

Cobinhood Adds Four New Stablecoins to Cryptocurrency Exchange Platform

Cobinhood announced on Thursday it has added four new stablecoins to its crypto exchange platform. The coins, which are now available, are the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD). According to Cobinhood, each of the stablecoins have a unique set of features that achieve the same end result, which is an increased market stability. The exchange reported:

“Standard cryptocurrencies can be highly volatile, often depreciating or appreciating in value 20-30 percent in a matter of hours. Stablecoins exist to remove this market unpredictability as these types of tokens are pegged to fiat currency like USD, EUR, CNY or JPY and sometimes even gold or oil. The GUSD, DAI, PAX and TUSD stablecoins will be available on the COBINHOOD exchange for deposit or withdrawal and trading for all users.”

Speaking about the addition of the stablecoins, Co-Founder of Cobinhood, Wei-Ning Huang, stated:

“The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.”

Founded in 2017, Cobinhood describes itself as the world’s first ZERO Trading Fees cryptocurrency exchange with the vision to maximize traders’ profits. Traders on the platform have zero trading fees for spot trading and margin trading up to 10 times leverage.

“Cobinhood’s proprietary order matching engine can process millions of orders with sub-millisecond latency. The whole system is designed to be fully distributed, highly available, and auto-scalable, achieving the ultimate trading experience for traders around the globe.”

Bitstamp Partners With Cinnober For Trading System Upgrade

Bitstamp, a Luxembourg based crypto exchanged, has teamed up with global independent provider of exchange Cinnober Group for its trading system upgrade. According to Cinnober, Bitstamp is replacing an in-house developed matching engine with Cinnober’s TRADExpress Trading System in a move to increase capacity and capabilities of its marketplace. The software will be hosted and operated by Bitstamp.

While sharing details about the collaboration, Nejc Kodrič, CEO of Bitstamp, stated:

“Our matching engine will be on par with traditional exchanges in both speed and throughput, once again placing Bitstamp on the technological frontier of crypto trading. We chose Cinnober because of their proven track-record in worldwide financial marketplaces, their understanding of our vision and ability to work closely with us to customize the technology to meet our needs.”

Peter Lenardos, CEO of the Cinnober Group, added:

“Bitstamp is one of the world’s leading bitcoin exchanges and has a position of trust in the digital currency trading community. By upgrading their trading technology to further improve performance and stability as interest from investors and regulators grow, they demonstrate their firm commitment to providing a safe and reliable marketplace.”

The partnership with Bitstamp and Cinnober comes just days after Bitstamp announced it has been acquired by NXMH, a Belgium-based investment company, for an undisclosed sum. Nejc Kodrič said the platform has been pursued by potential acquirers for quite some time. He revealed:

“The reason why we finally decided to sell the company is a combination of the quality of the buyer, the quality of the offer and the fact that the industry is at a point where consolidation makes sense. A major factor in agreeing to the sale is that the mission, leadership and vision of the company remains the same.”

Bitstamp is considered one of the oldest crypto exchanges in Europe and is ranked in the top 30 crypto exchanges.

Digital Currency Exchange Covesting Joins Crypto Valley Association

Covesting, a cryptocurrency exchange and trading platform, announced on Wednesday it become a member of the Crypto Valley Association in Switzerland. This news comes just a few months after Covesting announced it joined the Enterprise Ethereum Alliance, an open source blockchain initiative.

As previously reported, Covesting was founded in 2017 and is described as a cryptocurrency exchange and a trading platform that offers a complete and secure infrastructure for investors and traders. Its full description reads:

Backed by a strong team of industry professionals, Covesting is on a clear path to become an ultimate solution for investors and traders worldwide. It will cover every aspect related to cryptocurrency trading, from education, market overview and trading ideas to the unique concept of p2p asset management, liquidity aggregation and ultimately the most advanced trading station.”

According to Covesting, the Crypto Valley Association is a an independent, government-supported association that was established to take full advantage of Switzerland’s strengths in order to build “the world’s leading” blockchain and cryptographic technologies ecosystem, support and connect start-ups and established enterprises. This is notably done through policy recommendations, connect projects across industries, initiating and enabling research, and organizing conferences, hackathons, and other industry events. Founding members of the Crypto Valley Association include PwC, Luxoft, UBS, ConsenSys, Thomson Reuters, Lucerne University of Applied Sciences and Arts, Lykke Corp, Monetas AG, iprotus GmbH, Inacta AG, bacademy, Canton Zug, Lakeside Business Center AG, Lakeside Partners AG, Leon Partners and the City of Zug.

Speaking about the new membership, Dmitrij Pruglo, CEO of Covesting, added:

“We aim to take cryptocurrency trading to a new level through a strong focus on creating a secure and legally compliant platform, and Crypto Valley Association’s network can help us make our solution even more reliable and robust.”

Singapore Crypto Service Ethos Announces Integration With Fiat Purchase Service Simplex

Singapore-based cryptocurrency services platform Ethos announced it now integrating with Simplex, a global instant fiat purchase service enabling bitcoin and altcoin purchases with credit and debit cards. The integration will be through the Ethos Universal Wallet, which provides a secure, self-custodied mobile wallet that puts users is in control of funds at all times. 

According to Ethos, the new integration will allow Ethos customers to soon have access to liquidity and exchange services between fiat and cryptocurrencies on an international scale. Ethos also reported that the integration will allow it to accelerate the first phase of the fiat gateway and provide its customers with a safe and seamless method for converting between fiat and cryptocurrency. Speaking about the partnership, Ethos founder and CEO Shingo Lavine, stated:

 “The Universal Wallet will become the most accessible way for people to safely interact with cryptocurrencies using innovative services such as Simplex.”

Nimrod Lehavi, CEO and co-founder of Simplex, added:

“As Ethos expands its service offering, Simplex is proud to play a fundamental role in offering seamless, easy conversion between fiat and cryptocurrencies while ensuring transactions are completely fraud-free. We are able to achieve this thanks to our advanced machine learning AI algorithms and broad accumulated experience as security experts.”

The integration with Simplex comes just days after Ethos announced its integration with ShapeShift to depend liquidity and advance its exchange. This integration will allow users to securely exchange and swap coins without any intermediaries. Paired with the Shapeshift integration, the integration with Simplex will allow users to be able to gain access to dozens of cryptocurrencies and tokens using fiat.

The Ethos Universal Wallet is now available in the iOS and Android app store worldwide.

Cryptocurrency Exchange EXMO Expands: Announces Addition of the ADA Cryptocurrency to Listing

EXMO, a UK-based cryptocurrency exchange operating in multiple fiat and cryptocurrency pairs, announced on Thursday it has expanded its list of accessible trading instruments for active traders and announces the addition of the Cardano (ADA) cryptocurrency to its listing. According to EXMO, users of the platform may now buy and sell cryptocurrencies in the following most popular currency pairs: ADA/BTC, ADA/USD, ADA/ETH. Top-ups and withdrawals for these currency pairs are already available through the Wallet section.

Founded in 2013, EXMO claims it is the #1 cryptocurrency exchange platform in Eastern Europe and one oft he world’s largest global exchanges in volume and liquidity. The company reported it has 1.5 million users, 50,000 active traders, 315,000 daily visitors, 56 trading pairs, 5 fiat currencies (USD, EUR, RUB, PLN, UAH) on the platform. The exchange is currently has locations in London, Kiev, Barcelona and Moscow.

EXMO described Cardano as a decentralized public blockchain and cryptocurrency project and is a fully open source.  It was revealed:

“Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. ADA represents the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.”

EXMO went on to add that Cardano has a current market capitalization of $3,511,384,708.

Cryptocurrency Exchange Radar Relay Secures $10 Million Through Series A Funding Round Led By Blockchain Capital

Radar Relay, a U.S.-based cryptocurrency exchange, announced earlier this week it secured $10 million through its Series A funding round, which was led by Blockchain Capital, with participation from Digital Currency Group, Distributed Global, Elefund, and Tusk Ventures.

Radar Relay notably facilitates wallet-to-wallet trading using an open order book. There are no accounts, no limits, and no deposits. The company claims that its platform relays orders between peers while never holding any assets in custody. Since launching last fall, the platform has already welcomed thousands of users from 150 countries, onboard 170 tokens. Radar Relay noted:

“Tokenization is shifting asset ownership from analog to digital. Securities, property, art, attention, anything that can be tokenized will be tokenized. The business models, services, and opportunities available here are unprecedented. This massive growth in digital assets means exchange becomes a fundamental infrastructure layer. That’s where we fit in. We’re the builders here to onboard the world to the Token Economy. We are building the pipes now, the roads in the years to come, and the scaffolding for the next few decades.”

CEO of Radar Relay Alan Curtis revealed to CoinDesk:

We are supporting users from 150 countries. Of those countries, less than a third of our users are from the United States, which means we have to have core competencies in those [other] countries. Part of this funding is to establish a community ambassador program in those countries so we can serve our customers abroad.”

Curtis also noted that the platform left Beta mode about a month ago and during that phase, the company saw $150 million in transaction volume.  Funds from the Series A round will be used to continue the growth and expansion of the Radar Relay platform.