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| May 22, 2019

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Launching Archives -

Amazon Is Launching a Whole New Chain

March 2, 2019 |

Amazon may be opening a grocery store near you that’s smaller than most supermarkets but priced for everyday shoppers. The online retail giant plans to open dozens of them across America and will start with one in Los Angeles as early as late 2019, an insider tells the Wall Street…
Newser

Platform for Crypto Payments to Bank Accounts Launching in the UK

February 27, 2019 |

Platform for Crypto Payments to Bank Accounts Launching in the UK

A company based in London has announced it’s launching a payment service that can help increase the mainstream adoption of cryptocurrencies. It allows users to send or spend digital coins which are converted and then transferred in the form of fiat money to the recipient’s bank account.

Also read: ‘Bitcoin to the Moon’ Signs Appear on Ukrainian Tram

Aave Pay Supports 12 Cryptocurrencies

Aave Pay is an online platform that can be employed to pay with cryptocurrencies where regular bank transfers are accepted. Users will also be able to send money to family and friends as well as to pay utility bills.

Businesses can take advantage of the service to pay employee salaries and income taxes. Other commercial or corporate expenses can be covered as well with digital coins converted and sent to fiat-based accounts.

Aave Pay has been announced as both a web-based and a mobile application. While the online platform is live at the moment, there is little information on how to download, install and use the mobile app and its features.

Platform for Crypto Payments to Bank Accounts Launching in the UK

“This new application eliminates the obstacles of using crypto in our everyday lives,” said company CEO Stani Kulechov. He added that Aave Pay addresses the spendability problem associated with cryptocurrencies and “builds a bridge for crypto to cross over into mainstream use.”

According to its website, the platform currently supports 12 cryptocurrencies: bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), cardano (ADA), ripple (XRP), monero (XMR), litecoin (LTC), zcash (ZEC), stellar lumen (XLM), dash, dai, and lend.

Transfers Can Be Made to Accounts in 6 Fiat Currencies

To use Aave Pay, you need to sign up, providing your full name, email address, country of residence and citizenship, and also pass verification. Then in the “Pay” section you can choose the crypto you want to send and set the fiat currency that will be deposited into the recipient’s bank account. Euro, U.S. dollar, British pound, Swiss franc, Australian dollar, and Indian rupee are the available options.

The recipient’s name and Iban number are also required to perform a transaction. Once the information is provided, Aave Pay calculates an exchange rate which remains fixed for 15 minutes. When a crypto deposit is confirmed, a fiat payment is sent to the bank account. The transaction can take up to 1-3 business days to complete.

Platform for Crypto Payments to Bank Accounts Launching in the UK

“We are taking the concept of holding cryptocurrencies further, in a way that has not been done before, breaking the paradigm that cryptocurrencies are only assets people invest in and cannot be used as traditional currencies,“ said Jordan Lazaro Gustave, COO of Aave.

The U.K. startup is also offering a crypto-fiat lending service that uses digital assets as collateral. In the beginning of February, its ethereum-based platform called ETH Lend added support for BTC. Last month, Aave was granted two Estonian licenses that allow it to provide crypto exchange and wallet services.

Do you think apps like Aave Pay help the adoption of cryptocurrencies for payments? Tell us in the comments section below.


Images courtesy of Shutterstock.


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The post Platform for Crypto Payments to Bank Accounts Launching in the UK appeared first on Bitcoin News.

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German Derivatives Exchange Rumored to Be Launching Crypto Futures

February 24, 2019 |

German Derivatives Exchange Rumored to be Launching Crypto Futures

Eurex, a derivatives exchange that is operated by German exchange organization Deutsche Börse, has announced its intention to launch several crypto futures contracts. The company is reportedly planning to introduce contracts for BTC, ETH, and XRP.

Also Read: US ETF Ruling to Inform South Korean Cryptocurrency Market

Eurex Expected to Launch Crypto Futures Contracts

Deutsche Börse-operated Eurex has reportedly become the latest major financial institution to be on the cusp of launching crypto asset derivative products.

Citing “several people familiar with” the company’s plans, media has reported that the exchange has been meeting with market makers regarding the cryptocurrency futures, with Eurex planning to launch contracts for BTC, ETH, and XRP.

German Derivatives Exchange Rumored to Be Launching Crypto Futures

The exchange is believed to have been considering introducing cryptocurrency futures since 2018, with a spokesperson for Deutsche Börse stating: “We are thinking about futures, with which private investors and institutional investors can protect existing investments in bitcoin or set for falling prices of the cyber currency” in an interview during Dec. 2017.

Deutsche Börse Expands Crypto Asset Endeavors

The rumored Eurex futures contracts come almost six months after Deutsche Börse announced that it had established a division dedicated to crypto assets and distributed ledger technology (DLT).

The “DLT, Crypto Assets and New Market Structures” division was headed by Jens Hachmeister, who has led the company’s blockchain initiatives since April 2018. Hachmeister was tasked with overseeing a team of 24.

German Derivatives Exchange Rumored to Be Launching Crypto Futures

Detailing the reasons behind the company’s decision to set up the division, Hachmeister stated: “Deutsche Börse has been active with the technology in a first phase of ideation and exploration … However, these explorative steps have not been coordinated on a group-wide level. In order to use the full potential of the technology for our businesses, to generate efficiencies and create revenues, a centrally steered approach is necessary.”

Do you think that crypto derivatives will become a mainstream financial product by 2020? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post German Derivatives Exchange Rumored to Be Launching Crypto Futures appeared first on Bitcoin News.

Bitcoin News

Union Bank of the Philippines Launching Cryptocurrency ATM

February 9, 2019 |

Union Bank of the Philippines Launching Cryptocurrency ATM

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Unionbank’s ATM

The Philippine Star reported on Wednesday that the Union Bank of the Philippines (Unionbank) machine will be the country’s first crypto ATM that complies with the rules set by the central bank, Bangko Sentral ng Pilipinas (BSP). The project is part of the Philippine government’s regulatory sandbox. The bank says it has been collaborating with the BSP to provide Filipinos with innovative solutions.

Union Bank of the Philippines Launching Cryptocurrency ATM

Unionbank said in a statement, “In the bank’s continued quest to cater to the evolving needs and tastes of customers, including clients who use virtual currency, the ATM will provide these clients an alternative channel to convert their pesos to virtual currency and vice versa,” the publication conveyed. No specific coins were mentioned in the announcement.

A picture of the bank’s upcoming crypto ATM was posted on social media on Jan. 17 by Twitter user Mike Abundo.Union Bank of the Philippines Launching Cryptocurrency ATM

Crypto Regulation in the Philippines

Bangko Sentral ng Pilipinas explained, “Following the warning advisory issued by the BSP in March 2014, a formal regulatory approach was adopted through the issuance of Circular No. 944 dated 6 February 2017.” This circular establishes “guidelines for virtual currency (VC) exchanges” offering “services or engaging in activities that provide facility for the conversion or exchange of fiat currency to VC or vice versa” in the country, the BSP wrote.

Noting that it “does not intend to endorse” any cryptocurrencies including bitcoin, the BSP clarified that it aims to regulate them “when used for delivery of financial services, particularly, for payments and remittances.”

Union Bank of the Philippines Launching Cryptocurrency ATM

According to the circular, crypto exchanges must obtain a certificate of registration to operate as a remittance and transfer company. In addition, “Large value pay-outs of more than P500,000 [~$ 183,000] or its foreign currency equivalent, in any single transaction with customers or counterparties, shall only be made via check payment or direct credit to deposit accounts.”

Furthermore, they must “maintain an internal control system commensurate to the nature, size and complexity of their respective businesses” and adhere to the minimum control standard issued by the BSP, the circular describes.

As of November last year, the central bank has issued provisional licenses to seven crypto exchanges and is evaluating over 40 applications currently, according to a document on its website.

What do you think of Unionbank launching a crypto ATM? Let us know in the comments section below.


Images courtesy of Shutterstock, Twitter, Mike Abundo, and Unionbank.


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The post Union Bank of the Philippines Launching Cryptocurrency ATM appeared first on Bitcoin News.

Bitcoin News

PR: MoneyToken Is Launching Its Own Exchange – in Collaboration With Huobi Cloud

January 30, 2019 |

MoneyToken Is Launching Its Own Exchange – in Collaboration With Huobi Cloud

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

MoneyToken, one of the leading global crypto-lending platforms offering crypto assets-backed loans, has announced the launch of their new MoneyToken Exchange platform in a collaboration with Huobi Cloud.

This gives MoneyToken the ability to leverage Huobi’s technical expertise and security know-how, plus gives users access to the liquidity that Huobi Cloud has to offer.

The Exchange has been launched at 1:00 PM UTC today, and the team has also announced that a lottery with a 200 ETH prize fund is in the pipeline, as a way to engage and thank all of MoneyToken supporters.

MoneyToken is one of 2018-19s top ventures, with a thriving community of more than 50,000 active users and a number of well-known advisors and supporters such as Roger Ver.

With the launch of their Exchange, MoneyToken is starting to fulfill the dream of their founders and developers, creating a financial ecosystem that revolutionizes the finance industry and opens the door to new opportunities for their customers.

MoneyToken’s current user base will be crossing over to join the Huobi Cloud ecosystem while getting unique access to one of the biggest liquidity pools in the world. If we were to make a prediction, then in our opinion this will dramatically accelerate MoneyToken’s growth potential.

MoneyToken users can expect all kinds of new opportunities from the partnership between Huobi Cloud and MoneyToken – right away:

  • Lending platform users will have the unique ability to trade their collateral, not only gaining access to liquidity through the loan process, but also getting the chance to work their crypto-assets and gain potential growth.
  • MoneyToken will be able to liquidate collateral much quicker, accelerating a service already known for its speed of operation.
  • More features, like derivatives contracts, margin trading, OTC, withdrawal to fiat and short selling will become available on the MoneyToken Exchange as it is rolled out to users.

With MoneyToken Lending platform combined with MoneyToken Exchange the opportunities are endless. By sharing one order book with Huobi Cloud, MoneyToken ensures sustainable volume to make smoothly processing unlimited orders possible.

It seems that initiatives like MoneyToken and Huobi Global are leading the way to a bright future for cryptocurrency. Why not join them on the journey? To participate in the MoneyToken Exchange beta test, go to exchange.moneytoken.com and find out what the future looks like…

Contact Email Address
james.hendersonmt@gmail.com
Supporting Link
http://exchange.moneytoken.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: MoneyToken Is Launching Its Own Exchange – in Collaboration With Huobi Cloud appeared first on Bitcoin News.

Bitcoin News

Tests concluded, Iran prepares for launching of satellites

January 5, 2019 |

Iran’s telecommunications minister says his country’s three new satellites have successfully passed pre-launch tests.
FOX News

‘Move fast and break things,’ satellite edition: FCC fines Swarm $900,000 for launching without permission

December 21, 2018 |

Swarm Technologies Inc. learned an expensive lesson this week: If you’re going to shoot satellites into space, make sure the government signs off first.

The Menlo Park, Calif., company has agreed to pay a $ 900,000 fine to the Federal Communications Commission, the regulatory agency said Thursday….


L.A. Times – Business

Japan’s Monex Group Launching Crypto Exchange in the US

December 14, 2018 |

Monex Group, a major Japanese financial services company and the parent company of cryptocurrency exchange Coincheck, has unveiled its plan to launch a crypto exchange in the U.S. next quarter. The company has also shared its expansion plans for Coincheck in Japan.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

U.S. Expansion

Tokyo Stock Exchange-listed Monex Group (8698.T) held a business strategy briefing session on Wednesday to outline its U.S. expansion plan through its subsidiary Tradestation.

Japan’s Monex Group Launching Cryptocurrency Exchange in the US
Oki Matsumoto.

The group acquired Coincheck, one of Japan’s largest crypto exchanges, after it was hacked in January. Tradestation, a U.S.-based wholly owned subsidiary of the group, offers online electronic brokerage services to individual and institutional traders.

Monex CEO Oki Matsumoto said at the briefing that Tradestation “plans to offer virtual currency transactions … in the first quarter of 2019,” Reuters reported. Tradestation CEO John Bartleman was quoted by Coin Post as saying:

For cryptocurrency business, we have been preparing the virtual currency service in the U.S. for the past several months. We believe it can start in the first quarter of 2019.

Japan’s Monex Group Launching Cryptocurrency Exchange in the USAccording to Cointelegraph Japan, the new U.S. exchange will list the top five cryptocurrencies but the actual list has yet to be finalized. In addition, the company is in the process of acquiring money transmitter licenses in all U.S. states. In December last year, Tradestation began offering the trading of bitcoin futures contracts by the Cboe Futures Exchange.

Expansion Plans for Japan

Matsumoto also provided an update on Coincheck’s application to register as a cryptocurrency operator with Japan’s Financial Services Agency (FSA). “We have been consulting with the Financial Services Agency” about registration, he said, emphasizing that Coincheck resumed its exchange business last month. Currently, the exchange supports the trading of BTC, BCH, ETH, ETC, LSK, FCT, XRP, XEM, and LTC.

Japan’s Monex Group Launching Cryptocurrency Exchange in the USCoincheck is categorized as a deemed dealer which means it has been allowed by the FSA to operate a crypto exchange while its application is being reviewed. Currently, there are 16 registered crypto exchanges in Japan and three deemed dealers.

Monex detailed that since the acquisition of Coincheck, many improvements have been made to the platform, including a change in the management structure and delisting anonymous cryptocurrencies.

Nikkei Asian Review reported Coincheck’s President Toshihiko Katsuya explaining on Wednesday:

Coincheck plans to expand its services beyond trading into areas such as payments and transfers.

What do you think of Monex Group’s plans to expand in the U.S. and Japan? Let us know in the comments section below.


Images courtesy of Shutterstock, Monex Group, Tradestation, and Coincheck.


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Bitcoin News

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETF

November 20, 2018 |

Swiss Crypto Exchange-Traded Product Launching Nov. 21, But It’s Not an ETF

New.Bitcoin.com has confirmed that the exchange-traded product tracking an index of five leading cryptocurrencies will start trading on Switzerland’s principal stock exchange on Nov. 21. The exchange has also confirmed that this product is not an exchange-traded fund (ETF). The country’s financial regulator, Finma, explains the differences.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Differences Between ETPs and ETFs

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETFThe news of the cryptocurrency exchange-traded product (ETP) by Zug-based Amun AG having been approved by Switzerland’s principal stock exchange, Six Swiss Exchange, spread throughout the crypto community over the weekend.

The product tracks an index of five major cryptocurrencies: BTC, XRP, ETH, BCH, and LTC. While Amun’s website refers to this product only as an ETP, some believe that it is an exchange-traded fund (ETF).

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETFETPs and ETFs are two different products, listed under different categories on Six Swiss Exchange.

A spokesperson from Finma, Switzerland’s financial regulator, told news.Bitcoin.com:

It is important to separate ETPs from ETFs, as ETPs are not subject to the Collective Investment Schemes Act (Cisa) and are therefore not supervised by Finma.

Noting that ETFs “are funds that are traded on an exchange and normally track the performance of an index,” he emphasized that “In Switzerland, these products are subject to the Cisa.”

A spokesperson from Six Swiss Exchange also confirmed to news.Bitcoin.com that Amun Crypto is an ETP, not an ETF, adding that the product will start trading on Wednesday, Nov. 21. The exchange clarified:

ETPs are collateralized, noninterest-earning bearer debt securities which replicate an underlying [asset] (generally from the commodities sector), either on a regular or leveraged basis. Like ETFs, they trade in a multi market-making segment, but in legal terms they are not funds.

ETFs, ETPs and ETNs

On its website, Six Swiss Exchange detailed different types of “passive financial products in Switzerland.” The first two on the list are ETF and ETP.

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETF

The document indicates that ETPs include exchange-traded notes (ETNs) and exchange-traded commodities (ETCs). ETNs are a type of debt security that trades on exchanges and promise a return linked to a market index or other benchmark. ETCs also trade on exchanges but provide exposure to commodities and commodity indices.

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETFFurthermore, ETFs and ETPs also carry different risks. “ETFs are separate pools of assets,” Swiss Funds and Asset Management Association described in its report on ETFs and Index Funds. “In the event of the insolvency (bankruptcy) of the provider (e.g. the fund management company or custodian bank), the assets and rights of the ETF can be segregated, and there is no issuer risk in this regard.” Debt securities, however, “often entail an issuer risk that is hard to calculate,” the report author noted.

Public Misunderstanding Led to Trading Suspension

Swiss Crypto Exchange-Traded Product Launching Nov. 21, but It’s Not an ETFXBT Provider’s exchange-traded products have also been misunderstood by the public.

In September, the U.S. Securities and Exchange Commission (SEC) temporarily suspended trading of the company’s products — Bitcoin Tracker One and Ether Tracker One — due to the inconsistencies of their descriptions.

The commission wrote:

The broker-dealer application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as ‘exchange traded funds (ETF)’ … Other public sources characterize the instruments as ‘exchange traded notes (ETN)’.

In addition, the SEC noted that “the issuer characterizes them in its offering materials as ‘non-equity linked certificates’,” which “are not principal protected” and “do not bear interest.”

Citing “a lack of current, consistent and accurate information” of the two investment vehicles which resulted “in confusion amongst market participants regarding these financial instruments,” the SEC justified its decision to suspend their trading.

What do you think of Amun Crypto ETP trading on Six Exchange? Let us know in the comments section below.


Images courtesy of Shutterstock, Six Swiss Exchange, and Finma.


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Bitcoin News

PR: BitCanna – Dutch Blockchain Startup Launching a Revolutionary Cannabis Platform

October 31, 2018 |

BitCanna - Dutch Blockchain Startup Launching a Revolutionary Cannabis Platform

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Leading global cannabis brands are ready to go cashless and take advantage of all the opportunities offered by the BitCanna blockchain platform

AMSTERDAM, October 31, 2018 – With the current exponential growth of both the global cannabis industry and blockchain technology, there is a potential partnership that stands to benefit both. Within the cannabis industry, there is a growing demand for payment solutions, track & traceability of crops, and trust mechanisms. BitCanna is combining the best of all worlds, addressing each of these problems through the launch of its blockchain platform and associated cryptocurrency. Over the past year, a team of 20 dedicated specialists has worked in close collaboration with the cannabis industry on the development of the platform and its global expansion. A large and growing number of leading international brands have already confirmed their partnership, and on the first of November their ICO will open for interested investors.

Most banks and financial service providers still refuse to process cannabis transactions due to the large degree of regulatory uncertainty in the industry. Leading experts and entrepreneurs from both the financial and cannabis industries view this as a huge opportunity to build a global digital payment solution for cannabis retailers that can circumvent traditional financial institutions.

“Keeping up with constantly changing cannabis laws is very difficult. So banks, credit card companies, and online payment providers either refuse to get involved in cannabis, or they charge excessively high transaction fees,” according to Jan Scheele, CEO of BitCanna. “That puts companies who are selling cannabis products legally in a tricky situation — they have to figure out how to take their businesses cashless and sell online without breaking any laws. That’s where BitCanna will help.”

BitCanna is a global blockchain technology company that helps cannabis companies to go cashless securely, legally, and cost-effectively. The company claims to be able to process transactions using its BitCanna token almost instantaneously and for a fee of just a few cents. It will also let vendors manage their supply chains and record all customer identification data. It is an incremental technological breakthrough for the entire global industry.

“It doesn’t matter if it’s a $ 10 or $ 100 transaction. Our customers will pay a small flat fee,” says Scheele. “We’re introducing a payment system that will make it cost-effective and safe for all cannabis companies to accept digital payments — whether they’re selling online or in-store.”

It’s not just online retailers who can benefit from blockchain technology. Some brick and mortar cannabis retailers spend as much as 10-15% of their revenues on security and staff to upkeep a cash-only business. Providing these companies with payment processing technology can help them reduce security risks while complying with regulations.

Many industry experts believe that despite the growth we’ve seen over the past few years, the cannabis market is only just beginning to take shape. In the United States alone, the cannabis market is forecast to double from $ 22B in 2017 to $ 44B in 2020. And the global market is expected to reach $ 140B by 2027, according to European investment bank Bryan, Garnier & Co.

BitCanna is well-placed to benefit from this growing industry. The company will have direct integration with some of the largest online cannabis shops when it launches in Q3 2019. It will run pilots at brick and mortar locations in the cannabis capitals Amsterdam and Barcelona. BitCanna alone has already partnered with dozens of cannabis companies to create the BitCanna Alliance. Alliance members are active in 27 countries and attract a combined 10 million unique website visitors a month so far.

The company has ambitious plans to become the global digital payment solution for the cannabis industry. It will launch in Europe first and then quickly expand to the rest of the world.

About BitCanna

BitCanna is a decentralized payment network for the legal cannabis industry. The company was founded by Boy Ramsahai, a true cannabis industry veteran who founded an internationally successful cannabis media company in 1991. His Dutch-language magazines High Life and Soft Secrets are well known in the Netherlands. BitCanna has partnered with major brands in the European cannabis market to form the BitCanna Alliance. The Alliance is working to create a healthy and transparent cannabis market by securing and tracking digital transactions and implementing supply chain and customer management.

Contact Email Address
info@bitcanna.io

Supporting Link
https://www.bitcanna.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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