Bittrex to Expand to Euro Markets and to Lower Trading Fees for US Customers
Cryptocurrency exchange Bittrex has lowered trading fees for United States-based customers and announced its expansion to euro markets on June 12.
The launch of euro markets is announced for later this summer, which will enable fiat trading in euros for the first time in its history. Bittrex is also offering lower trading fees for its U.S. dollar markets, starting with a promotional month with 0 maker and 0.15% taker options.
This follows Bittrex’ decision to block its U.S.-based users from trading in 32 cryptocurrencies starting from June 21. After the change comes into effect, U.S. customers will not be able to buy or sell the select coins, and open orders involving the assets will be canceled.
Further on, in January Bittrex announced plans to launch an over-the-counter (OTC) trading desk. “This offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets,” the exchange’s CEO Bill Shihara said. (Neutral)
IBM, Hyperledger Blockchain ID System for Banks Launches in Brazil
CIP, a facilitator of Brazilian banking and financial infrastructure, has officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric.
The identity solution, dubbed “Device ID,” will see participation from nine banks, and is reportedly integrated into Brazil’s domestic clearing system, the Brazilian Payment System (SPB).
Its aim is to authenticate and verify digital signatures using mobile devices, ostensibly to guard against financial crime and unauthorized use of the financial system.
“Brazilian banks have been studying blockchain technology applications for a long time, but they weren’t all together. So we decided to create a group and unify all actions, which is very important to achieve standardization to all banks,” Joaquim Kiyoshi Kavakama, director of Febraban, Brazil’s national banking association, commented.
The platform had already come to light during its development phase, with Brazil’s biggest bank, Bradesco, confirming it would receive an official launch this week at the CIAB Febraban conference. (Positive)
Azerbaijan Government Partners With IBM on Blockchain Customs Deal
IBM is expanding its partnership work with Azerbaijan’s government to bring blockchain technology to customs procedures.
Following a reported deal with the country’s central bank in October 2018 — which should see blockchain deployed in various areas over a five-year period — IBM will now use the technology to target cargo transportation.
The news came from Azerbaijan’s State Customs Committee, the chairman of which, Safar Mehdiyev, spoke about the plans at a press conference during the ongoing IT/TI Conference and Exhibition of the World Customs Organization.
“It will be possible to obtain the necessary information from the database online, without outside interference,” he explained. Mehdiyev added:
“It will be useful for both entrepreneurs and customs authorities, as it will improve the quality of customs services provided.”
Blockchain’s potential in customs procedures has long been a source of interest for governments worldwide, including the United States, which last August launched a pilot scheme with the tech of its own.
Baku, meanwhile, wants to further use the new tool beyond its borders, with Mehdiyev adding there were plans involving nearby Moldova and Ukraine, along with neighboring Georgia. (Positive)