Weekly Recap 17.08.2019. – 23.08.2019.

Binance Reveals ‘Venus’ — Its Own Project to Rival Facebook’s Libra 

Binance is launching ‘Venus’ — a cryptocurrency project that it says will be

more independent and regionally-focused that its Facebook counterpart.

The exchange defines Venus an “independent regional version of Libra,” according to an announcement published Monday.

The exchange also calls on governments and businesses  organizations to join the initiative. (Neutral)

BitMEX Blocks Users in Hong Kong, Bermuda and Seychelles from Trading

On August 19, cryptocurrency exchange BitMEX has added three new jurisdictions to its trade restrictions list.

HDR Global Trading Limited (HDR), BitMEX’s parent company, has added Bermuda, Hong Kong, and the Seychelles to its list of total trade access restrictions. BitMEX, based in the Seychelles, maintains arms in Bermuda and Hong Kong.

The three jurisdictions join the United States, the province of Québec in Canada, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, and Sudan on the list.

Per a company posting, BitMEX added the geo-blocks for regulatory reasons.

“The increased involvement of regulators with all the major players in the industry is not only to be expected, it is to be welcomed. It is the mission of good regulators to ensure that honest citizens are not being cheated . . . For this reason, we have decided to restrict access to BitMEX for users in the jurisdictions in which HDR-affiliated employees and offices are located.”

BitMEX’s announcement follows an investigation by the U.S. Commodity Futures Trading Commission (CFTC).

The investigation was seeking knowledge on U.S. traders participation in the cryptocurrency exchange. BitMEX is not registered with the CFTC. BitMEX’s geo-blocks are based on IP-location, causing many traders to set up VPNs to bypass jurisdiction restrictions. (Neutral)

Japan’s E-Commerce Giant Launches Crypto Trading Service

Ratuken Wallet, Inc., a consolidated subsidiary of Japan’s Rakuten Group, announced on August 19 that it has launched a new mobile app (initially, only for iOS) that offers a spot trading service for cryptocurrencies.

Ratuken’s says that Ratuken Wallet “separates money deposited by customers (customer assets) from the company’s own funds, managing the assets (trust maintenance) in trust accounts provided by Rakuten Trust Co., Ltd., the trust company of Rakuten Group. Rakuten Trust manages those trust assets through Rakuten Bank, Ltd. savings accounts.”

To provide additional safety for customers’ funds, all crypto owned by customers is stored in multi-sig cold wallets. And finally, two-factor authentication (2FA) is mandatory “when logging in, withdrawing money and withdrawing assets.”

Ratuken Wallet currently supports three cryptoassets: Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH).

There are no fees for “opening or managing an account, purchasing or selling crypto assets, or depositing money.” However, there is a JPY 300 fee for withdrawing Japanese Yen and there are small fees for withdrawal of cryptoassets. (Positive)

Austrian Telecommunications Giant to Accept Cryptocurrency for Payment

One of the largest mobile providers in Austria is planning to accept cryptocurrency for payment at certain store locations.

Founded in 1881, A1,  which services some 5.1 million of the current 6.2 million Austrian mobile phone users and 2.1 million fixed lines across Austria, is testing cryptocurrency payments at store locations across Austria. According to a report by Austrian tech news site Futurezone – dash, ethereum, litecoin, stellar and XRP will be available for payment.

The pilot program will also host payments for Alipay and WeChat Pay by the end of August. As of now, Futurezone listed seven initial locations accepting cryptocurrency payments across Austria.

“Cash is a discontinued model,” said the head of A1’s business marketing Markus Schreiber. “With our pilot operation in the A1 shops, we will test demand and acceptance of digital currency in Austria.”

According to sources, A1 is partnering with banking solutions Salamantex, Ingenico and Concardis for the project. Like other popular cryptocurrency payment solutions, price fluctuations are absorbed through the banking solutions architecture.

Besides, A1 told Futurezone that the payment option is not only for local Austrians but increasingly geared toward tourists. (Positive)

Tether to Issue New Stablecoin ‘CNHT’, Pegged to Offshore Chinese Yuan

Stablecoin issuer Tether is going to issue a new stablecoin, dubbed “CNHT,” pegged to offshore Chinese yuan (CNH).

Zhao Dong, a shareholder of Tether’s sister company Bitfinex, has said on Wednesday that CNHT will be launched “in the near future”, while cryptocurrency lending platform RenrenBit will be the first one to invest in the upcoming stablecoin.

CHNT will be the fourth stablecoin to Tether’s basket, in addition to three existing stablecoins pegged to the U.S. dollar (USDT), euro (EURT) and the Japanese yen (JPYT). (Neutral)

NASDAQ Adds Ripple’s XRP to Its New Index on Recently Launched Website

On Friday last week, the world’s biggest stock exchange NASDAQ added Ripple’s digital coin XRP to its new index on a recently built website new.nasdaq.com., as the 3d biggest crypto asset is becoming more popular with institutional investors around the world.

Back in the spring, NASDAQ spread the word about its intentions to add XRP to its crypto asset index in the future, however, their plans suddenly changed and the thing was done on August 16. Now, XRP is officially part of the new NASDAQ market index.

Prior to that, the platform added XRP Liquid Index (XRPLX) to its service working with global financial data.

The announcement stated that this was part of NASDAQ’s cooperation with Brave New Coin, an analytical company that works in the cryptocurrency field. Brave New Coin was intending to send the data on its real-time XRP index to the global index data service run by NASDAQ (GIDS). (Positive)

IOTA Breaks into Retail Adoption with German Parking App

Trive.Park, an app from German company Trive.Me, is using IOTA’s Tangle in order to facilitate the booking and payment for parking spaces. With the demand for parking skyrocketing, motorists can now book a parking space and reserve it in advance. As per a report from EDAG Engineering, August 20, 2019, customers would pay for it and communicate with the garage over the Tangle, allowing it to be done in just a few taps over the phone.

Ledgers like IOTA that hinge their network security model on growth in adoption and transactions may look to expand their network through business partnerships and corporate use cases. But increasing the number of transactions processed over the networks required retail participation as well.

While businesses may contribute more transactions per user, retail users are larger in number, hence the importance given to both should be relatively equal.

The Trive.Park app will allow parking garage owners to digitize their asset and monetize through an online reservation system.

Trive’s Head of Product, Alexander Süssemilch, believes that IOTA is the best fit because the network has the ability to process the required microtransactions with virtually no fee.

The company believes that technology like IOTA that can rapidly disrupt the mobility industry will allow customers to experience a new level of efficiency for a fraction of the cost. (Positive)

Posjetite našu Mjenjačnicu kriptovaluta

  • brza i izravna konverzija kriptovaluta za fiat valute i obrnuto
  • jednostavna i kvalitetna usluga prema standardima FIMA brenda
  • povjerenje temeljeno na dugogodišnjem iskustvu i rezultatima

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