offering Archives -
As the housing market has downshifted, more builders are offering sweeteners to close the deal.
Companies large and small are paying closing costs, buying down mortgage rates and trimming square footage to offer a cheaper abode. Some are countering the high cost of a mortgage with a more direct…
Rescuers are now citing “the Almighty” as one of their last hopes for getting 15 coal miners out of a “rat-hole” mine in the Indian state of Meghalaya. Per ABC News , things look dire for the trapped men, who didn’t emerge from the mine on Dec. 13, and those seeking…
Cryptocurrency banking provider Bitwala has started offering its banking service to cryptocurrency users in Germany, starting with 40,000 pre-registered customers. A spokesperson for the company has shared details with news.Bitcoin.com about this new service which will soon add support for additional countries and cryptocurrencies.
New Banking Service for Crypto Users
Bitwala announced on Wednesday, Dec. 12, that it has started offering banking service to cryptocurrency users. “New users along with the 40,000 pre-registered customers will be onboarded one after the other based on their waitlist place,” the announcement read.
The bank accounts are hosted by Berlin-based Solarisbank. This Bitwala partner has a banking license, so it is supervised by Bafin and Bundesbank, Germany’s banking authorities.
Roman Kessler, a spokesperson for Bitwala, told news.Bitcoin.com:
For now, only German residents can go through the KYC [know-your-customer] process. Very soon, hopefully already in January, this will be extended to other jurisdictions inside of the EU.
Account opening takes a few minutes, the company noted, adding that customers need an ID to open an account. They must also complete the KYC process which includes video verification. The company also explained that “As with any bank account in Germany, all euro deposits up to €100,000 [~$ 113,274] are protected by the German Deposit Guarantee Scheme (DGS).”
Bank Account With Crypto Support
With the new Bitwala bank accounts, users will receive an Iban and a contactless debit card which will allow them to buy and sell BTC and manage expenses. The Bitwala account comes with a bitcoin wallet. Users can manage both their BTC and euro deposits in one place, the announcement describes.
“The new bank account offers users SEPA transactions, easy management of recurring payments, and comes with a debit card for on-the-go payments and ATM cash withdrawals,” Christoph Iwaniez, the company’s chief financial officer, commented. “For instance, customers will be able to use their Bitwala account to receive salary payments and pay their rent. And if you want to trade bitcoin, you can draw liquidity from the same current account.”
Kessler further shared with news.Bitcoin.com:
Only bitcoin [is supported] at the moment. You can access them through a multi-sig wallet to which only you have the private key. Other cryptocurrencies to follow shortly.
He also emphasized that “The online bank account and the [debit] card are free,” but trading between BTC and EUR costs 1 percent. “According to our market research that is 5 percentage points below market average.”
What do you think of Bitwala’s new service? Let us know in the comments section below.
Images courtesy of Shutterstock and Bitwala.
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Uber Technologies Inc. filed documents confidentially this week with regulators for an initial public offering, said a person familiar with the matter who asked not to be identified because it was private.
The offering could be the largest IPO next year and one of the five biggest of all time….
A key British lawmaker alleged Wednesday that Facebook maintained “whitelisting agreements” that gave select companies preferential access to valuable user data several years ago, offering insight into how the company balanced concerns about user privacy with the business imperative of growing…
LoanMe, a high-interest lending company in Anaheim, has stopped making personal loans in Wisconsin after a Times report that drew connections between the company and a legally troubled firm that was not permitted to make loans there.
LoanMe no longer advertises loans to Wisconsin residents on its…
A partnership between Al Zarooni Group, Crypto Bulls and Gulf Coin Gold has fostered the launch of the first cryptocurrency exchange registered in the United Arab Emirates (UAE). In other news, LXDX has announced that it plans to conduct a $ 5.7 million fundraising round via a security token offering (STO), and BTCC has announced indefinite cessation of its mining pool.
Crypto Bulls Exchange Launches First Registered Cryptocurrency Platform in UAE
A partnership between Al Zarooni Group, Crypto Bulls, and Gulf Coin Gold has yielded the launch of the first cryptocurrency exchange to be registered in the United Arab Emirates, Crypto Bulls Exchange.
Suhail Al Zarooni, the Chairman of Al Zarooni Foundation described the launch of the exchange as a “milestone for getting global investments opportunity from all over the Globe in UAE.”
Shasha Gupta, the chief executive officer and founder of Crypto Bulls Exchange, stated that “Crypto Bulls will be the first exchange providing AED trading pairs and traders would be able to convert their crypto assets into AED.”
LXDX Plans $ 5.7 Million Security Token Offering
LXDX, a cryptocurrency exchange co-founded by former Spacex engineer Joshua Greenwald, has announced that it will issue tokenized securities representing ownership in the exchange.
The company plans to issue five million tokens priced at 1 EUR each that will collectively represent an ownership share in the platform. The tokens will also entitle holders to 10 percent of the exchange’s quarterly adjusted gross revenue.
Will Roman, the chief operating officer and co-founder of LXDX, stated that the STO would be the only token offering that the firm plans to conduct in the “foreseeable future.”
Joshua Greenwald, LXDX’s chief executive officer stated his expectation that “The million token future is just around the corner,” adding: “As blockchain technology proliferates, we expect to see increased tokenization of tangible assets like real estate, commodities, and even art.”
BTCC to Cease Mining Pool Operations Indefinitely From Nov. 30
BTCC has announced that after more than four years of operating a mining pool, it will shut down all of its mining servers on Nov. 15 and “cease operations indefinitely” from Nov. 30.
BTCC requests that miners direct their hashing power elsewhere by Nov. 15 and “bind [their] mining revenue address” before Nov. 20, adding that the pool “will release the profits of all miners in time.”
Do you think more companies in the cryptocurrency sector will seek to issue stock via security token offerings? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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Southwest Airlines, the nation’s most popular domestic carrier, is providing its passengers with free movies to match the onboard entertainment already offered by most of the carrier’s biggest rivals.
The Dallas-based carrier has already begun rolling out the free movies on some planes, with plans…
CMC Markets, a U.K.-headquartered financial derivatives brokerage with shares listed on the London Stock Exchange, revealed on Tuesday that it has expanded its cryptocurrency offering to include bitcoin cash (BCH), as well as litecoin (LTC) and ripple (XRP).
CMC Markets Responds to Demand
The roughly 60,000 clients that CMC Markets serves around the world can now start taking positions on the three additional cryptocurrencies paired against the U.S. dollar. The move follows the brokerage’s extension of its cryptocurrency offering from professional to retail clients in July. At launch, the trading platform only offered bitcoin core (BTC) and ethereum (ETH).
“Since the successful launch of our cryptocurrency offering in March, and subsequent extension to retail clients in July, our clients have expressed interest in extending their trading options beyond bitcoin and ethereum,” explained David Fineberg, group commercial director at CMC Markets. “We are pleased to offer them the chance to take a position on bitcoin cash, litecoin and ripple, three altcoins which continue to generate much speculation among traders.”
Research Before You Start Trading CFDs
Forex, spread betting and contracts for difference (CFDs) brokerages have been very eager to add cryptocurrency-based instruments in recent years, as the volatility lured their day-trader clients away to crypto exchanges. However, concerns about alerting regulators prevented some of the more established players from doing so as quickly as they could have. Only this week it was revealed that the U.K. government is now considering a ban on crypto derivatives.
CMC Markets cautiously entered the cryptocurrency CFDs race only after rivals such as Admiral Markets, Gain Capital’s City Index, Plus500 Ltd., and IG Group Holdings Plc. had already established operations in the space.
“Spread bets and CFDs offer a way to trade on cryptocurrencies as clients can take a position on market movements without owning the asset. By trading with an established provider, funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange,” said Fineberg. “However, like all other financial instruments we offer, we always recommend clients understand the risks and conduct thorough research before trading.”
Is trading CFDs a good way to get exposure to bitcoin cash? Share your thoughts in the comments section below.
Images courtesy of Shutterstock, CMC Markets.
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Swissquote, a provider of online financial and trading services in Switzerland, has announced that its clients can now participate in initial coin offerings through its platform. The Swiss bank takes care of both the execution and the custody of tokens. In addition, the bank offers the trading of five major cryptocurrencies.
Swissquote’s ICO Service
Swiss online bank Swissquote announced on Monday that it has become “the first bank worldwide to offer its clients the opportunity to participate in initial coin offerings (ICOs).” With its new service, the firm described:
Clients can purchase coins (also named ‘tokens’) issued by a company directly against Swiss francs, using their trading account. Swissquote takes care of the execution as well as of the custody of the tokens.
Swissquote, a member of the Swiss Bankers Association, holds a banking license issued by the Swiss Federal Financial Market Supervisory Authority (FINMA). Its parent company, Swissquote Group Holding Ltd., is listed on the SIX Swiss Exchange.
The first ICO the bank has chosen to list on its platform is issued by Lakediamond. Incorporated in 2015, the Swiss startup explained that it was built “on years of research at EPFL (Swiss Federal Institute of Technology in Lausanne).” Moreover, the company claims that it is “developing reactors capable of growing ultra-pure diamonds, and exploring potential high-tech industrial applications.”
Currently, the option to sell tokens is unavailable. However, Swissquote noted that it will work with Lakediamond to allow clients to sell their tokens from within their trading accounts. The bank further asserted, “It is also possible that a third-party cryptocurrency exchange will enable the trading of Lakediamond tokens.”
Criteria for Listing ICOs
On its website, Swissquote explained that it has “strict criteria that companies need to fulfill” for their tokens to be listed on its platform, stating:
We consider only mature projects, ready to be launched, and want to review who the management is, what the business is, what the financials are and what the legal situation is. Then, we select the projects that we think will be of interest to our clients.
For ICO issuers, the bank offers a number of services such as banking, anti-money laundering (AML), know-your-customer (KYC), communications and marketing.
The banking services include “accounts, payments, foreign exchange, securities trading, etc,” the bank detailed, adding that it also provides cryptocurrency services which include custody and trading. The bank noted:
Customers need to have a Swissquote trading account to participate in a token pre-sale.
Other Crypto Offerings
In December last year, Swissquote announced that it had become “the first bank to offer five cryptocurrencies: bitcoin, bitcoin cash, ether, litecoin, and ripple.” The bank detailed on its website, “You must hold a Swissquote trading account with cash available in EUR and/or USD. Currently, CHF is not available.” BTC has been available on its platform since July last year.
In addition, the bank launched Swissquote Bitcoin Active Index (SQXBTQ) on Nov. 17 last year. The index, issued by Leonteq Securities AG, is a SIX tracker certificate with the maturity date of Oct. 11, 2020.
What do you think of Swissquote offering clients access to ICOs? Do you think more banks should do the same? Let us know in the comments section below.
Images courtesy of Shutterstock and Swissquote.
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