Tag: digital currency

Coinbase UK Now Supports Four New Assets: XTZ, DAI, EOS, & LINK

Cryptocurrency exchange platform Coinbase announced last week that Coinbase UK now supports four new assets on its platform, which are Tezos (XTZ), Dai (DAI), EOS (EOS), and Chainlink (LINK).  Coinbase reported that by supporting the new assets, the platform grants customers access to buy, sell, and trade even more assets through a GBP wallet, funded by a GBP bank account or credit and debit card. The crypto portal also noted that the support follows the complete reinstatement of its GBP wallet functionality and the recent launch of BAT, ZRX, REP, XLM, and XRP.

“Adding support for even more assets brings us closer to our long-term mission to help bring economic freedom, innovation, and equality to everyone, everywhere.”

The support of the assets also comes just days after Coinbase announced its Coinbase Card supports five new assets and ten new countries. The card is now available in a total of 29 countries, with customers in Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden being able to spend their crypto balance using a contactless Visa debit card in millions of locations worldwide.

“We’ve also more than doubled the number of assets available to spend — going from 4 to 9. XRP, BAT, REP, ZRX, and XLM wallets can now be used to buy anything from coffee to Christmas shopping. These five new assets join BTC, ETH, BCH, and LTC. Spending crypto as easily as money in your bank account is exactly what Coinbase Card lets you do. But for us, it doesn’t stop there. Spending summaries, combined with our brand new monthly statements feature, make tracking your crypto spend easy.”

Digital Currency Pioneer David Chaum Announces Upcoming Release of xx Network, a Blockchain for Conducting Secure Transctions

David Chaum, who’s widely known for inventing the world’s first digital currency, called “e-Cash,” during the early 1980s, revealed on November 22 the upcoming release of the xx network whitepaper and the Praxxis technical brief.

The brief will reportedly provide details and key insights into the xx network and “xx coin,” a blockchain and cryptocurrency supported by Elixxir and Praxxis technology.

According to a press release shared with Crowdfund Insider, Chaum has “described key features of the xx network consensus protocol, including quantum-secure trustless initialization, an unmanipulatable random seed, constant-sized endorser sampling, and compact quantum-secure group signatures which provide unprecedented efficiency.”

The release mentioned that the xx network is combined or integrated with the Elixxir “metadata-shredding” technology. The xx network offers a “protected digital sphere” where people can share project ideas and concepts, sell various products and services, and securely and privately exchange value.

The xx network whitepaper and the Praxxis technical brief should be available next week, the release noted.

Chaum stated:

“The xx network and xx coin will empower individuals to protect their privacy and choose how data is collected about their digital lives. In a world where digital privacy is threatened by large, powerful organizations, the xx network and xx coin secure parity between individuals and centralized powers.”

The announcement was reportedly made in Amsterdam at the Centrum Wiskunde & Informatica (“National Research Institute for Mathematics and Computer Science”), where Chaum performed pioneering research on digital currencies and cryptography systems.

The lecture is part of a two-day event which featured Chaum being honored with the Dijkstra Fellowship.

Coinbase Card Now Supports Five New Assets & Ten New Countries

Cryptocurrency exchange platform Coinbase announced on Thursday its Coinbase Card now supports five new assets and ten new countries. According to Coinbase, the card is now available in a total of 29 countries, with customers in Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden being able to spend their crypto balance using a contactless Visa debit card in millions of locations worldwide.

“We’ve also more than doubled the number of assets available to spend — going from 4 to 9. XRP, BAT, REP, ZRX, and XLM wallets can now be used to buy anything from coffee to Christmas shopping. These five new assets join BTC, ETH, BCH, and LTC. Spending crypto as easily as money in your bank account is exactly what Coinbase Card lets you do. But for us, it doesn’t stop there. Spending summaries, combined with our brand new monthly statements feature, make tracking your crypto spend easy.”

Coinbase went on to add that once a Coinbase Card has been requested, customers can spend their crypto through the in-app card, before the contactless Coinbase Card arrives.

Bitcoin IRA Announces Crypto & Cash Interest-Earning Program

Bitcoin IRA, a company that allows individuals to invest in cryptocurrency in an IRS-approved retirement account, announced on Monday the launch of its new cryptocurrency and cash interest-earning program. According to Bitcoin IRA, the program was created through a collaboration with Genesis, a digital asset trading and lending firm.

Bitcoin IRA reported that by earning interest, clients are able to boost their account value by capitalizing on interest yields previously unavailable to long-term crypto holders. While sharing more details about the program, Chris Kline, COO and Co-Founder of Bitcoin IRA, stated:

“Interest-earning accounts through our crypto and cash lending program are an exciting revolution in decentralized finance. Borrowing and lending using cryptocurrencies and cash are providing new and safe opportunities for our clients to maximize the growth of their retirement accounts. Interest earned by a client can offset trading fees or custodial holding fees, essentially creating a FREE account making these fees a thing of the past.”

Bitcoin IRA went on to add that it will be launching its  interest-earning crypto and cash-lending program starting in November to a limited number of participants on a first-come, first-served basis. Annual Interest rates may vary based on lending coin and term length.

BitPay: Users May Now Buy UK Gift Cards With the BitPay Mobile App

With the 2019 holiday season set to kick off in a couple of weeks, global blockchain payments provider BitPay announced that users may now purchase UK gift cards with the BitPay mobile app. According to BitPay, users may now use their crypto to purchase cards for shopping with 20 brands in the latest versions of the BitPay app. The brands include Nike, lastminute.com, Pizza Express, Tesco, Ticketmaster, Uber, Uber Eats, and Virgin.

“Right now, not every major brand is accepting cryptocurrency. To help fill that gap, BitPay began offering the ability to purchase gift cards with crypto in the BitPay app. Now cryptocurrency users in the United Kingdom can buy gift cards In the BitPay app.”

Founded in 2011, BitPay claims to be the first and most experienced company in bitcoin payments. The company offers tools for spending, accepting, and building with bitcoin. BitPay currently has offices in North America, Europe, and South America. It has raised more than $70 million through investors such as Index Ventures, Aquiline Technology Growth, Menlo Ventures, Founders Fund, and Sir Richard Branson.

Poloniex to “Spin Out” of Circle & Become a New Independent International Company

Circle announced on Friday that its internal group, Poloniex, will be “spinning out” from Circle to become a new independent international company called Polo Digital Assets, Ltd. According to Circle, the spin-out, which is back by an undisclosed Asian investment group, will bring significant resources and freedom to deliver the product features and marketing strategies needed to be competitive.

Circle also noted that while the spin-out is happening, it will be doubling down its efforts to build a more open, global, and accessible financial system, which will include significantly expanding the services it offers that are built around fiat stablecoin USDC along with expanding and growing equity crowdfunding platform SeedInvest.

“It is bittersweet for Circle to seed this incredible product and business spin out on its own. Nearly 18 months ago, Circle acquired Poloniex with a vision of building a broad digital asset marketplace that included a rapidly growing range of tokens and digital assets. We’ve made enormous progress with Poloniex, including massive infrastructure improvements, adding more fiat options with USDC integration, launching best in class native apps for traders and building global operations capabilities that can deliver excellent customer service.”

Circle also noted that earlier this year it completed the acquisition of SeedInvest. The platform’s plan with the equity crowdfunding platform is to transform how companies raise capital and open up investment opportunities to people everywhere.

“We have been working hard to introduce new service built on Seedinvest that allow for fundraising using tokens and digital assets, marrying traditional financial contracts and assets with crypto.”

Circle went on to add its mission is to help create a global internet financial system and the company hasn’t wavered but it must adapt and course-correct its strategy for achieving them.

Crypto Trading Platform PrimeXBT Announces New Fee Structure; Lowers Fees Up to 50% For Active Traders

Cryptocurrency trading platform PrimeXBT announced on Thursday its new fee system, which lowers fees up to 50% for active traders. The platform reported that it continues to grow its competitive advantage by reducing the already low fees offered on its advanced trading platform, encouraging increased trading activity and allowing traders to retain even more of the profit generated from successful positions.

“The newly introduced fee structure applies to all of the assets traded on PrimeXBT, including forex, stock indices, commodities, and cryptocurrencies, across all trading fees. The discounted fees are designed not only to reward the most active users on the platform with even larger profit margins and faster capital growth but will also encourage and promote additional growth and trading activity on the platform.”

The fee system includes three different discount levels, including:

  • 0 – 300 BTC Turnover (30 day rolling): This trading tier will have access to PrimeXBT’s recently-reduced, competitive trading fees
  • 300 – 600 BTC Turnover (30 day rolling): Traders with over 300 BTC and up to 600 BTC turnover within a 30-day period will have access to an exclusive 25% discount
  • 600+ BTC Turnover (30 day rolling): The highest level of savings is awarded to traders on the platform with 600 BTC or greater turnover within a 30-day period, with an exclusive 50% discount – twice the savings of the second level

PrimeXBT officials went on to add:

“Because we offer exposure to so many different assets and markets, and cater to both novices and experienced professional traders, the range in capital and therefore trading turnover varies by a wide margin,” adding that “new traders will enjoy our competitive fees, while the most active traders on our platform will be rewarded with up to a 50% reduction in trading fees across all assets.”

PumaPay Teams Up With Cointelligence For Cryptocurrency & Blockchain Education Accessibility

PumaPay, a blockchain payments system that provides an open-source “free-of-charge blockchain-based protocol” that decentralizes the transaction process, announced on Thursday it has teamed up with cryptocurrency data resource platform Cointelligence to make cryptocurrency and blockchain education accessible for everyone.

According to the duo, the education will be through the Cointelligence Academy, which is an online education platform hosted by Cointelligence. The platform provides classes that can help students with no previous cryptocurrency knowledge and basic tech know-how learn the intricacies of the blockchain and crypto. The goal is to help usher in mass adoption by demonstrating the possibilities of cryptocurrency.

“PumaPay is focused on mass adoption from a different angle. A key part of making cryptocurrency attractive to the general public is making it a viable payment option wherever they shop. PumaPay has created an easy way for businesses to accept crypto payments, including recurring subscription fees.”

While sharing more details about the collaboration, PumaPay CEO, Yoav Dror, stated:

“A lot of people see crypto as a gimmick or a craze that’s sure to fail.  Our mission is to show businesses and customers alike how easy it is to transact in crypto. It was natural for us to want to support Cointelligence Academy in their mission to help people understand crypto.”

Cointelligence CEO On Yavin, also commented:

“I believe that cryptocurrency is the biggest revolution this world has seen but people won’t take part in a revolution that they don’t understand. My goal with Cointelligence Academy is to make it easy for everyone to learn about cryptocurrency and get excited about it.”

PumaPay went on to add that its support of Cointelligence Academy has allowed Cointelligence to offer these classes for free, making them accessible for consumers no matter where they are located or what their financial situation is.

Celsius Network Collaborates with TrustToken to Offer High Interest Income on TGBP, TAUD, TCAD, THKD, & TUSD Stablecoins

Celsius Network, a cryptocurrency lending and borrowing platform, announced on Wednesday it has teamed up with global stablecoin provider TrustToken to offer interest income on True Great Britain Pound (TGBP), True Australian Dollar (TAUD), True Canadian Dollar (TCAD), True Hong Kong Dollar (THKD), True US Dollar (TUSD), Paxo’s PAX, MakerDAO’s DAI, Coinbase’s USDC, Gemini’s GUSD, and Tether’s USDT.

Celsius reported it is able to offer the highest rates because it is consistently earning higher returns on its deposits and distributes 80% of its income back to its depositors. The platform explained:

“In addition to earning interest on stablecoin deposits, users can deposit crypto and earn interest or use their crypto as collateral to request a loan issued in any of its supported stablecoins for as low as 3.46% APR.”

While sharing more details about the collaboration, Alex Mashinsky, CEO of Celsius Network, stated:

“Stablecoins built on the blockchain allow us to move dollars in the form of digital tokens over the internet, and that enables us to earn more for our borrowers from all over the world. By offering high interest income on stablecoins, Celsius enables anyone around the world to earn 10x more on their dollars than they ever could at a traditional bank.”

Tory Reiss, TrustToken Co-founder, went on to add:

“TrueCurrencies already offer transaction speeds beating traditional money transfers and the lowest costs of any stablecoin, but to grow adoption all cryptocurrencies need to grow utility. That’s why we’re excited to work with such incredible partners to bring high-interest accounts to even more of the world, now denominated in all five of our international currencies and far outperforming local savings accounts.”

MoreFrom Teams Up With Utrust to Accept Cryptocurrency Payments 

MoreFrom, a UK based independent online IT retailer, announced on Wednesday has it partnered with Utrust, the cryptocurrency payment solution offering instant transactions, buyer protection, and crypto-to-cash settlements. MoreFrom reported that customers may now pay for more than 200,000  products from over 600 brands using cryptocurrencies including the native Utrust token (UTK) as well as other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), DASH, and DigiByte (DGB).

Founded in 1995, MoreFrom encompasses MoreComputers, MoreGaming, MoreElectricals, MoreOffice and MorePhones and provides consumer technology products. MoreFrom’s customers now have the option to purchase their favorite hardware, from computers and phones to gaming and drones, with cryptocurrency and the highest standard of buyer protection. 

Through the partnership with Utrust, MoreFrom may also now settle payments directly to its bank in fiat on the very same day they are received, offering protection from any risk of potential market volatility. While sharing more details about the partnership, Utrust CEO, Nuno Correia, stated:

“MoreFrom is a fantastic addition to the Utrust merchant network, allowing customers to pay for globally recognised products such as Samsung and Fitbit, with top cryptocurrencies. As more independent vendors like MoreFrom integrate cryptocurrency payment methods into their platforms, the standard of buyer protection and ultimately customer satisfaction will improve. With the UK consumer electronics market projected to reach over €19 billion in 2020, and the UK gaming market expected to be worth £5.2 billion by 2021, we are thrilled to be driving the growth of cryptocurrency payments even further by partnering with MoreFrom. 

Chris Wheater, MD of MoreFrom, also commented:

“Cryptocurrency payments mark the next frontier in the evolution of the consumer electronics market as consumers demand the highest level of security and efficiency when paying for hardware. Thanks to Utrust, MoreFrom remains at the forefront of the industry introducing cryptocurrency payments to provide the best possible buyer experience for our consumers.”

MoreFrom went on to add that Utrust’s core technology will allow it to take advantage of the increased security and convenience of cryptocurrency payments.  It will also significantly reduce processing fees and eliminate inconvenient credit-card chargebacks and fraudulent payments to bring greater transparency and trust to the world of online payments. 

eToro Set to Use AI With New Sentiment-Based Cryptocurrency Investment Strategy

eToro, a global social trading platform, announces on Tuesday the launch of TheTIE-LongOnly CopyPortfolio, which offers users access to a sentiment-based, AI-driven investment strategy from The TIE, a cryptocurrency data analytics platform trusted by some of the largest traditional quantitative hedge funds as well as crypto-specific funds. While sharing more details, Guy Hirsch, US Managing Director of eToro, stated:

“In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.” 

eToro then reported that the Tie’s proprietary machine learning and language processing models ingest 850 million tweets per day, quantifying the positive and negative tone of conversations on Twitter. TheTIE-LongOnly CopyPortfolio strategy allocates based on positive sentiment, algorithmically rebalancing once per month. Joshua Frank, CEO of The TIE, also commented:

“eToro is well-known as a community where some of the smartest crypto traders share insights and strategies. We’re proud to offer investors of all experience levels a way to employ artificial intelligence and machine learning in an automatically-executed strategy, unified with eToro in our goal to make traders more active and informed.” 

eToro went on to add that since launching the strategy in October 2017, the algorithm has generated a 281% return after fees, compared to a 41% return generated by Bitcoin alone. Annualized, The TIE’s Long-Only portfolio strategy generates on a return of 123% on average, compared to a 29% return from an equally weighted basket of the same underlying crypto assets.

Coinbase Announces Launch of Coinbase Pro Mobile App

Cryptocurrency exchange platform Coinbase announced on Thursday the launch of its Coinbase Pro mobile app. Coinbase claims the Coinbase Pro mobile app offers the most intuitive feature set of any mobile crypto trading platform.

“The Coinbase Pro mobile app offers a feature-rich trading experience, including real-time candles, depth charts, order books and advanced order types, along with intuitive shortcuts. Orders made via the app will carry the same fees as those executed via the desktop platform, and traders will have access to the more than 50 trading pairs available today on Coinbase Pro. The app is available to Coinbase Pro customers in 100+ countries around the world.”

Coinbase also noted that since the launch of Coinbase Pro on desktop, few features have been requested more than a mobile trading experience. Coinbase went on to add:

“Opportunities to buy and sell present themselves at all hours of the day. This means it’s critical for traders to have access to the tools and information they need to capitalize on these moments, when and where they need it. That’s why today we’re announcing the launch of the Coinbase Pro mobile app, a powerful, mobile-first trading platform that was built with a focus on speed, ease of use, and a clean, streamlined trading experience.”

Coinbase Pro’s mobile app is currently available through the Apple store.

Bitstamp Announces Expansion of Partnership with BitGo for Digital Asset Custody

Bitstamp, a Luxembourg based cryptocurrency exchange, announced on Wednesday it has expanded its partnership with BitGo to include custodianship of digital assets. The exchange will begin transferring assets to BitGo’s wallets on October 10th.

Bitstamp reported that with BitGo Custody, Bitstamp’s assets will be secured on 100% cold storage technology in bank-grade class III vaults and protected by BitGo’s $100 million insurance policy. Speaking about the partnership expansion, David Osojnik, Bitstamp CTO, stated:

“BitGo has been one of our most trusted partners for many years and this is a natural extension of our relationship. Their exclusive focus on institutional services has allowed them to develop the tech and processes necessary for running a robust and compliant cryptocurrency exchange. But, more than that, they have proven to be a great partner, committed to our mutual success as well as the further development of our industry.”

Mike Belshe, CEO of BitGo, went on to add:

“Bitstamp is one of the most highly-regarded exchanges in the world and they chose BitGo Custody because we understand what they need to run their business. Institutions need a lot more than an app with pretty charts. They need proper security, which includes technology, people, and processes, and they need exceptional client service. We’re proud to have earned Bitstamp’s trust and their business.”

Global Cryptocurrency Platform Liquid.com Completes Group Restructuring

Global cryptocurrency exchange Liquid.com announced on Tuesday it has completed its global group restructuring to reflect its “evolution into a global fintech business.” Liquid reported that as a result of the global restructuring, the existing “Quoine” operating entities have moved under Liquid Group Inc. to form the new Liquid Group.

While sharing more details about the restructuring, Mike Kayamori, Co-Founder and CEO of Liquid, stated:

“We are seeing extraordinary and disruptive trends in financial services, driven by fintech innovation where customers are more digital and tech savvy in accessing their financial needs, from owning cryptocurrency wallets and accounts to actively trading crypto assets on global platforms such as Liquid. On the other hand, traditional financial infrastructure and lean fintech startups are racing to keep up with these new technological advancements, accelerated by the adoption of blockchain technology and cryptocurrencies.”

Liquid.com also reported it will continue to build on the existing brand equity of liquidity maximization, customer-centricity, and security. The strengthening of the Liquid.com brand across all global offices in Tokyo, Singapore, Vietnam, and the Philippines will allow the Liquid Group to strengthen its positioning and launch across global markets effectively as a truly global brand. Liquid.com added:

“As part of this global expansion plan, Liquid will plan to launch in the United States once all applicable licenses are obtained. As a pro-regulatory group, Liquid’s Singapore entity will also be looking at licensing under the incoming Payment Services Act.”

PayRue Announces New Partnership With TokenMarket For European Expansion

PayRue, a European based wallet focusing on exchange, transfer, and storage of cryptocurrencies, announced on Friday it has teamed up with global investment platform TokenMarket to continue its European expansion. PayRue reported that as part of the partnership, it has acquired TokenMarket’s decentralized crypto exchange that will launch under PayRue’s Estonian license. It was also reported:

“Parties have also agreed on long term, exclusive marketing and promotional activity, combined with the integration of services across their respective platforms that totals 200,000 users.”

Speaking about the partnership, Mikael Olofsson CEO of PayRue, stated:

“Working with TokenMarket on a cryptocurrency trading platform is an exciting development for PayRue. Some may see the exchange market as crowded, but our view is that regulated decentralized exchanges are the next evolution and very few companies are prepared for this. We believe that our users will benefit from the security and transparency that centralized exchanges are currently failing to deliver, as showcased with the continuous hacks and fake trading volume.”

Ransu Salovaara, CEO of TokenMarket, also shared:

“We are excited to work with PayRue as we believe there will be a monumental shift to regulated wallets and exchanges. This partnership allows us to put all our focus on token issuance and the tokenized securities market, which we expect will be a billion-dollar business in the coming years.”

As previously reported, PayRue was created to support the growth and mass adoption of cryptocurrency. To do this, the company offers an application that allows users to exchange, hold, and transfer cryptocurrency.

“PayRue is offering services that will support the growth for cryptocurrency as a new emerging asset class. With already built and working technology and growing user base we feel we are well positioned to further expand our user base whilst adding on new services and cryptocurrencies.”

The partnership comes just a couple of weeks after PayRue closed its equity crowdfunding campaign on Seedrs. The platform secured a total of £118,098 in funding through the funding round. PayRue TokenMarket Exchange will launch its non-custodial exchange in October 2019 supporting cryptocurrencies, utility tokens, and stablecoins.

BitPay Set to Support XRP For Payment Processing & Cross-Border Transfers Through New Partnership With Xpring

Global blockchain payments provider BitPay announced earlier this week it is set to support XRP for payment processing and cross-border transfer through its new partnership with Ripple’s developer initiative, Xpring. According to BitPay, the support will allow businesses to accept XRP for payments through BitPay’s merchant processing and cross-border payments platform safely, securely, and compliantly, starting by the end of the year.

BitPay also reported that through the support BitPay Wallet and BitPay Prepaid Cardholders may also store and spend XRP through BitPay merchants and businesses.

“XRP is the third-largest cryptocurrency with a market capitalization of more than $20 billion. Current BitPay customers will be able to add XRP without the need for any integration or enhancements.”

Speaking about the support, Sean Rolland, Director of Product at BitPay, stated:

“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective and scalable. The addition of XRP as the next blockchain asset supported by BitPay expands blockchain choices across the payments space.”

BitPay Wallet will also integrate with Xpring’s newly launched developer platform, which BitPay claims makes it easier for developers of any kind to integrate money into their business. Ethan Beard, SVP of Xpring, also commented:

“We’re excited to partner with BitPay to enable XRP for its thousands of merchants for everyday purchases and bills. This is key in advancing the proliferation and adoption of XRP as a medium of exchange to help solve real-world problems.”

BitPay noted it offers XRP as a payment mechanism along with Bitcoin, Bitcoin Cash, and Ethereum. Businesses have another settlement solution that does not rely on traditional bank wires. The platform added it processed more than $1 billion annually from global merchants including Microsoft, Newegg, Dish Networks, FanDuel and Avnet will be able to turn on support for XRP without any additional integration.

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.”

BitGo Launches “BitGo Staking” With Dash & Algorand Following Acquisition of Hedge

Blockchain software firm BitGo announced on Thursday it has launched BitGo Staking, which allows clients whose assets are with qualified custodian BitGo Trust to now generate passive income while their assets remain in secure, insured cold storage.

According to BitGo, BitGo Staking launches with Dash and Algorand and will offer support for additional coins planned for later this year. The rate of return will vary by coin, running from 7%  to up to 13% for Algorand.

Along with the launch of BitGo Staking, BitGo also announced it has acquired Hedge, a scaleable, programmatic deployment of staking infrastructure company. BitGo reported:

“This acquisition forms the foundation of BitGo Staking through the integration of Hedge’s automated secure deployments, scalable and redundant processes, and the use of hardware security modules (HSMs) and secure cryptographic enclaves. Clients will have the option of choosing to delegate staking to BitGo or to the provider of their choice.”

BitGo Staking benefits include:

  • Security architecture: each node runs on its own dedicated virtual machine so one client’s node cannot access other nodes or infrastructure
  • No keys go online: seamless integration with BitGo Custody keeps assets in cold storage
  • Multi-signature technology: the industry standard for institutional investors
  • Choice of staking providers: delegate staking to BitGo Trust or use the staking provider of your choice
  • Insurance: custodial assets are insured for up to $100 million

Ben Chan, CTO of BitGo, went on to add:

“In order to be a great custodian, we need to provide our clients with the ability to use their assets in custody. Staking provides our clients with returns on their investments without ever moving their assets out of custody. Our acquisition of Hedge builds on the blockchain and staking expertise within our engineering platform to deliver an automated, end-to-end staking service.”

Voyager Digital Completes Acquisition of Cryptocurrency Services Provider Ethos

Voyager Digital Ltd. (CSE: VYGR) (OTC Pink: VYGVF) (FRA: UCD2) announced on Wednesday it has completed its acquisition of cryptocurrency services provider Ethos. Voyager reported that the acquisition was completed for a purchase price of 7,250,000 shares of VYGR. Shingo Lavine, Founder and CEO of Ethos, will also join Voyager as Chief Innovation Officer, in addition to his current role as a member of the Company’s Board of Directors.

thought-catalog unsplash Bitcoin Ethereum Cryptocurrency“The assets acquired from Ethos include the Ethos Universal Wallet and Ethos Bedrock, an enterprise blockchain application. The Ethos Universal Wallet enables anybody to simply and securely store, track, send and receive their crypto assets for free. It gives Voyager customers the ability to self-custody all their crypto assets and seamlessly transfer coins, all within the Voyager mobile app.”

Speaking about the acquisition, Stephen Ehrlich, CEO of Voyager, stated:

“Voyager is rapidly adding more functionality to its platform, including the recent addition of crypto deposits and withdrawals. Closing the transaction with Ethos is another major achievement that allows us to incorporate the Ethos Bedrock infrastructure into our expanding blockchain capabilities and best-in-class cryptocurrency experience.”

Voyager added it has also entered into a strategic relationship (liquidity provision, settlement capabilities, coin breadth, and product assistance) with the Jump Trading Group (“Jump”), a leading proprietary trading firm.

Broadridge Announces Addition of Cryptocurrency & Exchange Traded Derivatives Capabilities Thanks to Shadow Financial Systems Acquisition

U.S.-based fintech Broadridge Financial announced on Tuesday it has acquired Shadow Financial Systems, Inc., a provider of multi-asset class post-trade solutions for the capital markets industry. Broadridge reported that through the acquisition it is able to add cryptocurrency and exchange traded derivatives (ETDs) on its platform.

While sharing details about the acquisition, Michael Alexander, Co-Head of North American Wealth and Capital Markets Solutions for Broadridge

“The acquisition of Shadow Financial Systems is the latest example of Broadridge building upon our industry leading capital markets solutions. We look forward to bringing real benefits to a new set of market participants as well as new capabilities to our existing client base.”

Don Marino, President of Shadow Financial Systems, Inc, then noted:

“We are excited to join industry leader Broadridge and to better serve our clients’ evolving needs while adding the scale, deep domain expertise and technology resources that Broadridge can provide.”

Broadridge went on to add that Alantra acted as exclusive financial and strategic advisor to Shadow Financial Systems, Inc. Terms of the deal were not disclosed.