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sponsored A cryptocurrency exchange wants to make crypto trading accessible in over 100 countries within 2019. Despite the downturn that shackled the crypto markets in 2018, there is a renewed sense of optimism, as some experts believe the crypto market could fare better in 2019. Canadian-based CoinField plans to make crypto trading more accessible and cheaper for investors — irrespective of where they live — so they can take advantage of when crypto prices go green. The exchange intends to become one of the largest trading platforms for cryptocurrencies. It is already available in 101 countries and the team plans to expand the service to more regions in 2019, including the United States. World-class trading dashboardCoinField was launched in April 2018 by Central Crypto Exchange Corp. The platform says it provided both advanced and simplified trading dashboards for beginners and professional traders to buy and sell any cryptocurrencies in just a few clicks. The trading platform says..
Decentralized exchange aggregator Totle has closed a fresh funding round led by Arrington XRP, NEO Global Capital (NGC) and Goren Holm Ventures. Decentralized exchange (DEX) aggregator Totle has closed a fresh funding round led by major blockchain investors, according to a blog post from the firm Jan. 14. Arrington XRP, a crypto-focused hedge fund created by TechCrunch founder Michael Arrington, alongside top blockchain investment funds NEO Global Capital (NGC) and Goren Holm Ventures, have reportedly jointly led the $1 million round. Headquartered in Detroit, Michigan, Totle focuses on building infrastructure to support the decentralized application (DApp) and DEX ecosystem — notably through the recent launch of its API. As the post outlines: “[The API aims to] relieve the need to integrate with and understand the protocols of multiple decentralized exchanges. Totle supports many use cases including in-app exchange in wallets; payments and transactions for business; arbitrage exploit..
Two major crypto platforms join the likes of Binance and Huobi in pledging to proactively monitor this week’s Ethereum update. Major United States cryptocurrency exchanges Coinbase and Kraken became the latest to confirm support for Ethereum’s (ETH) Constantinople hard fork, both announcing on Twitter, Jan. 14. The two major exchanges join Binance, Huobi and OKEx in pledging to monitor the event, which will trigger at Ethereum block height 7,080,000, expected this week. “Coinbase intends to fully support the Constantinople Ethereum (ETH) upgrade,” staff wrote in the post, adding: “Upon commencement of the upgrade, for security and technical purposes, we will temporarily pause sending and receiving ETH across all of our trading platforms until the upgrade completes and we confirm security of the network.” In a tweet, Kraken also confirmed it would support Constantinople, officials adding they “expect this will be a non-contentious fork” and will not spark competing ETH chains, as happe..
Major Spanish energy company Iberdrola has conducted a blockchain trial with two local banks to track the origins and use of renewable energy. Spain’s major energy company, Iberdrola, has started using blockchain to track renewable energy, Spanish independent news agency Europa Press reports on Monday, Jan. 14. The first trial was conducted in cooperation with Kutxabank, a local bank based in the Basque Autonomous Community that owns a substantial part of Iberdrola's equity, and its subsidiary Cajasur. During the pilot, Iberdrola monitored the renewable energy delivered from two wind farms and one power station to banks’ offices located in Basque Country and the southern city of Cordoba. The company used Energy Web Foundation — an open source blockchain platform designed to fit the regulatory, operational and market needs of the energy sector— in their pilot. They found that blockchain enabled the company to establish a hierarchy of the producers and to automate the process of en..
The Bittrex OTC platform, which is geared towards high-volume trades, launches later Monday, a statement confirmed. United States-based cryptocurrency exchange Bittrex will launch an over-the-counter (OTC) trading desk on Monday, according to a private statement released on Jan. 14. The latest major exchange to enter the OTC market, Bittrex will offer investors the same raft of around 200 crypto assets currently available on its standard platform. OTC trading has become an increasingly popular option for institutional investors looking to perform large-volume trades. Fellow U.S. exchange Bitfinex opened its own platform in 2016, while the country’s largest player Coinbase is currently in the process of rolling out its product. Financial technology company Circle, meanwhile, revealed last week that its OTC desk had made $24 billion of trades in 2018. Bittrex CEO Bill Shihara commented on the OTC desk in the statement, noting: “This offering will be another way for Bittrex to further ad..
Kotak Mahindra Bank, India's second largest private sector bank by market cap, is allegedly requiring account holders to refrain from dealings in cryptocurrency. Kotak Mahindra Bank — India's second largest private sector bank by market cap — is allegedly requiring account holders to refrain from dealings in cryptocurrency. The claim was made by Twitter user “Indian CryptoGirl” (@Desicryptohodlr) in a tweet posted Jan. 8. According to the screenshot provided in Indian CryptoGirl’s tweet, Kotak Mahindra Bank makes explicit reference to the Reserve Bank of India’s (RBI) regulations in its apparent terms and conditions for account holders, which allegedly demand consent to the following: “Basis [sic] the regulations issued by RBI, I hereby declare that I will not deal with any transactions related to cryptocurrency including bitcoins. I also understand and agree that the bank reserves all right to close my account without further intimation in case I am found to undertake such ..
There is little evidence of practical scalable use for blockchain technology, according to a post published by consulting firm McKinsey. Major financial consulting company McKinsey & Company believes that there is little evidence of practical use for blockchain, according to an official post published on Jan. 4. McKinsey was founded in 1926 and has a reported revenue for 2018 over over $10 billion, with over 27,000 employees globally. The article, written by three McKinsey partners, notes that the “evidence for a practical scalable use for blockchain is thin on the ground,” explaining: “Blockchain has yet to become the game-changer some expected [...] given the amount of money and time spent, [...] little of substance has been achieved.” Furthermore, the post notes that “the stuttering blockchain development path is not entirely surprising [since] it is an infant technology that is relatively unstable, expensive, and complex.” The post then explains to readers that according to the li..
Chinese banking blockchain platform will be built with funds from various banks and the United Nations Development Bank. China’s self-regulatory bank organization the China Banking Association (CBA) will launch a blockchain-based platform to improve efficiency across the sector, participants confirmed in a statement Dec. 29. The project, formally dubbed the ‘China Trade Finance Inter-bank Trading Blockchain Platform,’ aims to use blockchain to target trade finance, transactions and other financial services. Multiple guinea pigs have signed up to pilot the platform, among them well-known names such as HSBC, Bank of China and Ping An Bank. “The establishment of this inter-bank platform can be described as extraordinary, opening up barriers between different banks and realizing the interflow of information,” HSBC China vice president and head of industrial and commercial finance Fang Xiao told local news outlet China News, adding: “The use of blockchain technology to promote trade financ..
Cryptocurrency exchange OKEx has added perpetual swap contracts for 7 additional crypto assets, in addition to BTC/USD. Major cryptocurrency exchange OKEx has added multiple new crypto derivative pairs to its platform, according to a press release shared with Cointelegraph Jan. 3. As Cointelegraph reported in late December, the exchange first launched a derivative product called a “perpetual swap” that supports BTC/USD,with up to 100x leverage. As Cointelegraph reported at the time, the product is a margin trading instrument that lets users speculate on the future value of a given cryptocurrency against USD, according to OKEx’s index. Today, the exchange announced it will add perpetual swaps contracts for seven additional major cryptos — Bitcoin Cash (BCH), Bitcoin SV (BSV), EOS (EOS), Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). The newly added contracts will only support up to 40x leverage, according to the press release. Meanwhile, news recently broke t..
Mainstream newspaper Time published an article illustrating the liberating potential of Bitcoin, especially in countries with oppressive governments. Bitcoin (BTC) has a substantial liberating potential, American mainstream newspaper Time reports on Dec. 28. The aforementioned article claims that “speculation, fraud, and greed in the cryptocurrency and blockchain industry have overshadowed the real, liberating potential of Satoshi Nakamoto’s invention.” According to the article’s author, Bitcoin “can be a valuable financial tool as a censorship-resistant medium of exchange.” Alejandro Machado, a cryptocurrency researcher at the Open Money Initiative, reportedly said that the fee on a wire transfer from the United States to Venezuela can be as high as 56 percent. To circumvent such conditions, Venezuelans have reportedly turned to cryptocurrency, receiving Bitcoin from their relatives abroad. The main alternative is to wire money to Colombia, withdraw and bring cash to Venezuela, which..