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| October 19, 2018

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Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

October 17, 2018 |

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

On Oct. 17, the world’s largest cryptocurrency exchange by volume, Binance, announced a partnership with blockchain surveillance company Chainalysis. According to the exchange, Chainalysis has implemented a compliance solution that meets regulatory guidelines worldwide.

Also read: Bizarro World: Federated Sidechain Technology Promoted Over Nakamoto Consensus

Binance Is Using Chainalysis for Compliance   

According to a press release published on Oct. 17, Binance and Chainalysis have joined forces to create a compliance solution for trading operations. The collaboration will further ensure that Binance exchanges comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. The co-founder of Chainalysis, Jonathan Levin, explained during the announcement that all cryptocurrency businesses face the challenge of “earning the trust of regulators, financial institutions and users.”

“We expect many to follow Binance’s lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions,” Levin detailed. “Chainalysis’ compliance software, Chainalysis KYT (Know Your Transaction), is the only real-time transaction monitoring solution for cryptocurrencies.”

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

To Some, Regulatory Compliance and Permissionless Innovation Mix Like Oil and Water

Levin says that the Chainalysis software uses methods like proprietary algorithms and pattern recognition that can raise alerts when suspicious transactions happen. Binance will be able to leverage the KYT software and other services Chainalysis offers. Wei Zhou, CFO at Binance, says the collaboration helps the exchange build a “foundational compliance program.”

“Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve,” Zhou stated.

Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance

Overall, both companies believe the compliance solution will enhance the cryptocurrency environment. Moreover, Chainalysis thinks exchanges working with them will make it easier for cryptocurrency firms to open bank accounts and establish relationships with legacy financial providers. However, on forums and social media, many digital asset proponents voiced their displeasure at the announcement. Most cryptocurrency users wholeheartedly believe in privacy, and are concerned by a growing trend for blockchain surveillance.

What do you think about Binance teaming up with the blockchain surveillance firm Chainalysis? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Binance and Chainalysis


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published. 

 

The post Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance appeared first on Bitcoin News.

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Exchanges Roundup: Ledgerx Readies ETH Futures, Coinbase Partners With Caspian

September 29, 2018 |

In recent news pertaining to cryptocurrency exchanges, anonymous sources have stated that Ledgerx is preparing to launch ETH futures trading, Coinbase has announced a partnership with Caspian intended to target institutional investors, and the chief executive officer of Binance has shared his opinions regarding “trans-fee mining” and decentralized exchanges.

Also Read: European Regulator Renews Restrictions on Crypto-Based Derivatives

Ledgerx Reportedly Readying to Launch ETH Futures

Exchanges Roundup: Ledgerx readies ETH Futures, Coinbase Partners With CaspianAccording to an anonymous source, cryptocurrency derivatives trading platform, Ledgerx, is readying to launch ETH futures.

The source states that the company has an Ethereum options product ready for launch, however, is currently awaiting regulatory approval for such. The source added that Ledgerx currently has a meeting with the United States Commodities Futures Trading Commission scheduled for the 5th of October.

At the start of September, Business Insider cited anonymous sources in reporting that The Chicago Board Options Exchange (CBOE) was readying for the launch of ETH futures markets. The source predicted CBOE’s ETH futures may go live by 2019.

Coinbase Partners With Caspian to Target Institutional Investors

Exchanges Roundup: Ledgerx readies ETH Futures, Coinbase Partners With CaspianMajor U.S.-based cryptocurrency exchange, Coinbase, has announced a partnership with Caspian to ”drive institutional participation in crypto.”

According to Caspian’s website, the company offers an “institutional grade […] asset management solution that covers the lifecycle of the trade,” with Caspian purporting to currently be providing services to 25 cryptocurrency exchanges including Binance, Bitfinex, Bitmex, and Gemini.

The chief executive officer of Caspian, Robert Dykes, stated: “We’re delighted to cement this important partnership with Coinbase, which will see one of the world’s leading digital currency trading venues join forces with one of the most exciting emerging crypto platforms.”

Kayvon Pirestani, director of institutional sales at Coinbase, stated: “By working together, Coinbase and Caspian will deliver institutional-grade order and risk management tools to the growing number of professional crypto trading firms around the world. Customers will be able to take advantage of the best elements of both platforms — accessing Coinbase’s extensive historical market data and deep pool of liquidity, and combined with Caspian’s suite of seamless trading tools. We see this partnership as not only a tremendous commercial opportunity, but as a chance to truly move forward the institutional adoption of crypto as a mature, tradable asset class.”

Binance CEO: Trans-fee Mining “Not a Threat,” Decentralized Exchanges “Are the Future”

Exchanges Roundup: Ledgerx readies ETH Futures, Coinbase Partners With CaspianDuring an interview conducted at the recent Consensus: Singapore 2018 conference, Changpeng Zhao (CZ), the chief executive officer and co-founder of Binance, dismissed the “trans-fee mining” model as posing no threat to Binance’s future, and shared his belief that “decentralized exchanges are the future.”

CZ described the trans-fee mining model as “damaging” to the cryptocurrency ecosystem, adding: “It’s not a threat. The exchanges will try to do that. The volume at the exchanges that have tried that have all come down. It’s a very complex way of raising money. The law of supply and demand tells us that since there’s always more platform tokens being issued, you can almost guarantee that the price will go down over time.”

CZ also expressed his bullish expectations for decentralized exchanges, stating: “I think decentralized exchanges are the future, but it’s going to take a few years to get there. For the foreseeable future, I think the volumes will not be as high. So, it’s more like an experiment. I think it’s more innovation; we’re still at the early stage of the industry.”

“Right now, most of the money is still in fiat. So, I think the sweet spot is actually to do the crypto-to-fiat exchanges,” he added.

Do you think that decentralized exchanges are the future? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Twitter.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Exchanges Roundup: Ledgerx Readies ETH Futures, Coinbase Partners With Caspian appeared first on Bitcoin News.

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PR: INLOCK Signs MoU with Institutional Lending Provider – Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform

September 18, 2018 |

INLOCK Signs MoU with Institutional Lending Provider - Partners with Major CEE Crypto ATM Manufacturer to Test Its 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.

BUDAPEST (SEPTEMBER 18, 2018) — INLOCK, a crypto lending platform where licensed lenders can compete for borrowers who want to use their cryptocurrency as collateral for loans, announced today that it has signed a Memorandum of Understanding (MoU) with an institutional lending provider and entered a partnership with one of the Central and Eastern European Countries (CEE) region’s biggest crypto ATM manufacturers to test its Minimum Viable Product (MVP). The company launched the ICO for its ILK token on September 15, the anniversary of the Lehman Brothers collapse.

The CEE region’s crypto ATM manufacturer plans to integrate INLOCK’s services into all of its machines, enabling users to directly take out loans and receive funding in cash within hours. The crypto ATM manufacturer will act as a matching service provider by forwarding customers to INLOCK.

“Before we can begin to talk about crypto reaching mass adoption, we first have to be able to spend it.” said Csaba Csabai, CEO and founder of INLOCK. Since crypto can be such a volatile asset, people often hold onto it for future gains instead of spending it. INLOCK bridges this gap, and provides customers with the best of both worlds.”

The ILK token (ERC-20) will become an integral part of INLOCK’s ecosystem, serving as a proper utility token for customers to cover platform fees when taking out fiat loans with crypto collateral — all contractual activities will require ILK tokens. Because the platform’s usage costs are not deducted from collateral, borrowers can preserve the full value of their cryptocurrency upon repaying the loans.

INLOCK enables cryptocurrency holders to manage short-term liquidity problems by taking a loan in fiat and using their existing cryptocurrencies as collateral. When posting a lending request, lenders can offer loans with varied terms, and interest rates are kept low due to market competition among lenders.

After successfully raising $ 2.5M in a private presale earlier this year, INLOCK launched its ICO on September 15. and successfully raised $ 700k in the first 24h. You can participate by visiting its homepage.

About INLOCK
INLOCK is a blockchain and smart-contract based platform that enables cryptocurrency holders to manage short-term liquidity problems by taking a loan in fiat and using their existing cryptocurrencies as collateral.

Media Contact
Clarity PR
inlock@clarity.pr
646.934.6924

Supporting Link
https://loan.inlock.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.

The post PR: INLOCK Signs MoU with Institutional Lending Provider – Partners with Major CEE Crypto ATM Manufacturer to Test Its Platform appeared first on Bitcoin News.

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Exchanges Round-Up: Aus Regulators Doubt Coinjar Volume, Paysend Partners With Bitstamp

September 16, 2018 |

Exchanges Round-Up: Aus Regulators Doubt Coinjar Volume, Paysend Partners With Bitstamp

In recent news pertaining to cryptocurrency exchanges, Australia’s financial regulators have expressed skepticism regarding Coinjar’s purported trade volume, Paysend has partnered with Bitstamp to facilitate cryptocurrency purchases through its Global Account, and Seed Cx has announced a $ 15 million USD Series B funding round.

Also Read: A Decade After Lehman Brothers Died: Mises, Satoshi, Bitcoin, and Wall Street Worship 

Australian Regulators Skeptical of Purported Coinjar Volume

Exchanges Round-Up: Aus Regulators Doubt Coinjar Volume, Paysend Partners With BitstampIn a recent interview with Business Insider, Jordan Michaelides, Coinjar’s head of institutional investment, expressed his frustrations with the slow pace at which he perceives Australia’s regulatory institutions to be reacting to innovation within the crypto sector – claiming that the exchange facilitated $ 1.4 billion AUD (approximately 1.07 billion USD) in trade volume during the first half of 2018.

In response, the Australian Securities and Investments Commission (ASIC) expressed skepticism regarding Coinjar’s purported volume, with a spokesperson stating: “Tracking the actual industry is even newer than the sector itself, […] aspects of the volume of transactions can be quite opaque, and you could imagine some of the claims by participants might warrant a certain skepticism.”

The Australian Transaction Reports and Analysis Centre (AUSTRAC) appears to share ASIC’s skepticism, with a spokesperson stating: “AUSTRAC does not monitor or collect information that allows us to quantify total transaction volumes by a reporting entity or industry.”

Seed Cx Announces $ 15 million Series B Funding Round

Exchanges Round-Up: Aus Regulators Doubt Coinjar Volume, Paysend Partners With BitstampChicago-based Seed Cx has announced a $ 15 million USD Series B funding round. The round was led by Bain Capital Ventures and brings the company’s total funding to $ 25 million.

Edward Woodford, Seed CX’s co-founder and CEO, stated: “As a licensed exchange for both spot and derivatives trading, we deliver the operational risk safeguards, strong institutional technology, operational support, and regulatory compliance that institutions demand. What is particularly exciting is that our unique offering brings large institutional traders, who have so far sat on the sidelines, into the crypto space for the first time.”

Salil Deshpande, Managing Director at Bain Capital Ventures, stated: “Institutions are seeking regulated, secure, and reliable crypto venues with diverse products that allow them to earn strong returns. Today, trading venues are retail focused, limited to spot trading, often unregulated, and in foreign jurisdictions. The lack of institutional exchanges is the single largest barrier to crypto asset class growth. Seed Cx is serving this unmet need of institutions and has assembled an outstanding team of executives to support this vision.”

Paysend Partners With Bitstamp to Compete With Revolut

Exchanges Round-Up: Aus Regulators Doubt Coinjar Volume, Paysend Partners With BitstampPaysend has launched it’s “Global Account” – a product designed to compete with Revolut. The app will allow users to spend and transfer money via mobile app and debit card. The app supports EUR, GBP, USD, RUB, and KZT, and provides access to the cryptocurrency markets on Bitstamp – owing to a partnership between the two companies.

Paysend’s head of product, Alex Murashko, stated: “We are quite different from both a technical infrastructure and consumer offering viewpoint. We own and control our own processing and this gives tremendous ability and flexibility to deliver a wide variety of services whilst controlling the entire consumer journey.”

Mr. Murashko continued: “[…] We believe in simplifying the consumer experience so that instead of feeling like they are bombarded with a long list of features they have available a focused group of benefits.”

What is your response to ASIC and AUSTRAC’s skepticism regarding Coinjar’s purported trade volume? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Paysend


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Exchanges Round-Up: Aus Regulators Doubt Coinjar Volume, Paysend Partners With Bitstamp appeared first on Bitcoin News.

Bitcoin News

PR: Vaultbank Partners with Kingdom Trust for Qualified Custodial Services for Crypto Assets

August 16, 2018 |

Vaultbank Partners with Kingdom Trust for Qualified Custodial Services for Crypto Assets

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.

Vaultbank has partnered with Kingdom Trust to provide a qualified custodial solution for digital assets. Vaultbank has built a digital asset platform allowing for the tokenization of real assets and financial instruments. The Kingdom Trust-Vaultbank partnership allows our customers to have institutional grade custody and reporting.

Kingdom Trust brings its expertise in custodial services to the Vaultbank platform with end-to-end capability to secure digital currencies with the highest levels of transparency, accountability and compliance.

Matt Jennings, Kingdom Trust’s Chief Executive Officer states, “Kingdom Trust’s relationship with Vaultbank will catapult our custody platform for digital assets giving investors access to regulated qualified custody solutions for digital currencies and tokenized securities thru one streamlined platform.”
The Vaultbank Platform is currently in beta testing, and a tiered global rollout is scheduled to begin in the third quarter of 2018. Prospective users are invited to join the waitlist on Vaultbank’s homepage at www.vaultbank.io.

Aaron Travis, Vaultbank’s Chief Operating Officer states, “By partnering with Kingdom Trust we have created a cryptocurrency exchange with a secure, compliant, and innovative custody solution that will safeguard our user’s assets and further distinguish Vaultbank and Kingdom Trust as leaders in building a regulatory compliant ecosystem for tokenizing securities.”

Vaultbank has been working with regulatory agencies and other governmental bodies to acquire necessary licenses and comply with strict requirements in jurisdictions all over the world.

ABOUT VAULTBANK

Vaultbank is a FinTech company innovating the convergence of two worlds – traditional investments and digital assets. Vaultbank utilizes blockchain technology to create, issue and trade financial instruments through a single platform. By providing the next generation suite of financial services, Vaultbank will allow for the buying, selling, and spending of cryptocurrencies, tokenized securities, and traditional equities on web-based and mobile platforms.

For more information visit: https://vaultbank.io

The Vaultbank Platform

The Vaultbank Platform intends to be one of the first platforms to compliantly facilitate the global trading of both utility and security tokens. Vaultbank has been working with regulatory agencies and other governmental bodies to acquire necessary licenses and comply with strict KYC/AML, FATCA and accreditation requirements in jurisdictions all over the world.

The VB Token

Vaultbank intends to generate profits and distribute dividends to VB Token holders. The VB Tokens represent partial ownership stakes in Vaultbank and its VB Fund and are backed by non-voting shares of Vaultbank held in equitable trust.

The Vaultbank Board of Directors

The Vaultbank Board of Directors includes former BlackRock CIO Ken Kroner, Founder Austin Trombley, former Third Point Capital Partner Keri Findley, former MasterCard Head of Digital Commerce (MEA) Aaron Oliver, and Gyft co-founder CJ MacDonald.

MEDIA CONTACT: John Nahas, john.nahas@vaultbank.io , +1-818-438-9707

Disclaimer: Vaultbank refers to a group of companies that includes Vaultbanc Ltd., a Singapore public company limited by shares, and certain of its affiliates. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. Some of the statements in this press release may constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include those relating to our expectations, estimates and intentions regarding our business and our industry, and are generally identified by the words “expects,” “intends,” “anticipates,” believes,” “plans,” “will be” and similar expressions. Readers are cautioned that forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond our control. Other than as required by law, Vaultbank does not undertake any obligation to update or revise any forward-looking statements. Vaultbank is not a bank as defined under the Banking Act of 1933 or any other applicable law in the United States, Singapore or elsewhere.

Contact Email Address
alina.jais@vaultbank.io

Supporting Link
https://vaultbank.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.

The post PR: Vaultbank Partners with Kingdom Trust for Qualified Custodial Services for Crypto Assets appeared first on Bitcoin News.

Bitcoin News

Google Woos Partners for Potential China Expansion

August 13, 2018 |

While Google’s search engine remains blocked in China, the company is courting allies there by providing tools and support to a growing number of app developers, manufacturers and advertisers in the region.
WSJ.com: What’s News Asia

Google Woos Partners for Potential China Expansion

August 12, 2018 |

While Google’s search engine remains blocked in China, the company is courting allies there by providing tools and support to a growing number of app developers, manufacturers and advertisers in the region.
WSJ.com: US Business

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

August 10, 2018 |

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

Covered in The Daily on Friday are several announcements crypto users may find interesting. Ledger has added support for 8 new coins and crypto exchange Okex is launching a white label platform. Also, Exmo will offer its European users faster payments and transfers in partnership with Mistertango, and Estonian startup Citowise has integrated credit card purchases for crypto in its Android app.

Also read:  Shapeshift Acquires Bitfract, Bitmain Invests in Tribeos

Ledger Adds Support for 8 New Cryptocurrencies

Popular hardware wallet provider Ledger has added support for third party applications developed for eight new digital assets to its Ledger Nano S device. From now on, the company will announce new additions on the first Tuesday of each month, in order to streamline app validation.

Starting this week, the Ledger Live application for Ledger Nano S offers the following new coins: Poa, Icon, Vechain, Wanchain, Ontology, Kowala, Particl, and RSK, the company announced in a tweet. Ledger developers have also provided a link to their roadmap for planned releases and other useful details published on Trello.

In a blog post, the team behind Ledger notes that the validation process for third-party apps will be simplified with clearer guidelines, giving developers more comprehensive guidance on security good practice, device applications interface, experience, and design requirements.

The new applications will be available for installation on Ledger devices through Ledger Live. However, the coins won’t be directly compatible with the native app and initially customers will have to use a compatible third-party wallet to perform transactions. “Ledger Live will gradually incorporate full support for third-party applications to enable Ledger users to not only install, but also transact with these new crypto assets directly from Ledger Live,” the company explains.

Okex Launches White Label Platform

Crypto exchange Okex has announced the launch of its new Coinall platform, a white label solution which is part of its Open Partnership program that started a couple of months ago. “The launch of CoinAll, the 1st exchange under Open Partnership Program, symbolizes a new era to build a community- and project-centric open exchange, unveiling an exciting new chapter in the blockchain industry!” the Chinese-run company posted on Twitter.

Participants in the Open Partnership program will now be able to take advantage of a variety of services offered by the exchange, including its clearing system, cold and hot storage, applicable anti-money laundering (AML) and know your customer (KYC) procedures. Coinall developers also claim that it is the first autonomous, community-run crypto-trading platform.

Coinall has released 10 billion CAC tokens, 51% of which will be allocated as rewards to users. The other 49% are reserved for the founders of the exchange and the members of the Open Partnership program. Currently, the platform offers trading pairs of CAC with bitcoin core (BTC), ethereum (ETH), and tether (USDT).

Exmo Introduces Faster Payments with Mistertango

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with MistertangoThanks to a newly announced partnership with Lithuania-based payments provider Mistertango, European crypto exchange Exmo will offer its users the opportunity to make instant deposits and withdrawals in EUR. Traders will also be able to make Single Euro Payment Area (SEPA) transfers which translates into faster payments.

The Mistertango payment account will allow Exmo users to fund their crypto-related activities using fiat currency. The account comes with an IBAN number, offering the ability to instantly transfer money via SEPA, and a prepaid Mastercard as well. According to a press release, the Lithuanian company already works with more than 100 cryptocurrency exchanges and intends to expand further in the crypto space.

Estonian Citowise Offers CC Purchases of Cryptos

Crypto wallet provider Citowise is now offering users the option to buy cryptocurrencies with Visa, Mastercard and American Express debit/credit cards. The newly integrated function in its Android app currently supports purchases of bitcoin core (BTC) and ethereum (ETH), with plans to add other cryptos in the future, including bitcoin cash (BCH), litecoin (LTC), ripple (XRP), and NEO. In a blog post, the team promises that the functionality will also be available on iOS soon.

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

In order to buy cryptocurrencies with their bank cards, users need to pass KYC and AML verification, a service provided by a third party – Citowise’s partner company Transcoin. The purchasing limits for this option are set at €32,000 (~$ 36,600) per month. The total can be spread over a maximum of four credit or debit cards, the company notes. The app of the Tallinn-based startup also supports purchases of cryptocurrencies with SEPA payments. In this case, the monthly limit is €200,000 and the daily is €40,000.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Ledger, Okex, Exmo, Citowise.


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The post The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango appeared first on Bitcoin News.

Bitcoin News

Amazon partners with L.A. community colleges for cloud computing program

August 9, 2018 |

Starting as early as this fall, students around Los Angeles will have the opportunity to learn to code in one of the biggest software growth areas: cloud computing, an increasingly popular online-based technology that is used for data analytics and file storage.

That’s due to a partnership announced…


L.A. Times – Business

PR: FuzeX Partners with Bitcoin.com – Adds BCH to FuzeX Cards, Drops BTC

July 23, 2018 |

Fuze X Partners with Bitcoin.com - Adds BCH to Fuze X Cards, Drops BTC

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.

Global cryptocurrency payment card project FuzeX revealed today (23rd) that they signed a partnership with Bitcoin.com, thereby adding Bitcoin Cash to the FuzeX card.

FuzeX official stated that “Considering the issues of transaction speed and fee, we decided that Bitcoin Core did not fit the philosophy of FuzeX. So we decided to drop BTC and replace it with Bitcoin Cash, which has a much faster transaction speed and a cheaper transaction fee.”

Bitcoin Cash, which came into the world last August, was created to solve the scaling problem of the first cryptocurrency, Bitcoin. Bitcoin Cash is now widely regarded as the go-to cryptocurrency in terms of real life usage, as it provides a fast, cheap and reliable method of payment.

Roger Ver, CEO of Bitcoin.com said “We are happy that this partnership will help Bitcoin Cash lovers all around the world use BCH as an everyday currency. Bitcoin Core, which is more expensive, slower and less reliable is thus unusable in the FuzeX payment system. It will be dropped and replaced by BCH as the base currency on the platform. Furthermore, we are going to cooperate with FuzeX in an effort to continue coming up with win-win situations for all users.

BrilliantTS CEO and FuzeX project leader Jae-Hoon Bae said “We are happy to announce the partnership. With the help of Bitcoin.com, we will be able to provide a useful and pragmatic payment service. We are going to work with Bitcoin.com to bring about interesting projects that can help cryptocurrencies be used in the real world.”

FuzeX is the first company in the world to provide a physical crypto-payment card on which the users can check their balance in real-time. Their card will be released this Q3 and be purchasable via FuzeX’s token ‘FXT’. FXT is currently purchasable at HitBTC, Corbinhood, Coss.io, and livecoin.net.

Contact Email Address
rachel@fuzex.co
Supporting Link
https://fuzex.co/

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: FuzeX Partners with Bitcoin.com – Adds BCH to FuzeX Cards, Drops BTC appeared first on Bitcoin News.

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