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Crypto-Backed Lending Service Sees Massive Demand

Crypto-backed lending service CEX.IO LOAN, launched in October 2020, has been experiencing major demand, receiving over $100M worth of loan requests to date. Most of the requests came from institutional investors, despite the service’s popularity among retail clientele, as well.

According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the crypto-industry. Institutional investors in possession of cryptocurrencies regard it as collateral for borrowing funds and use it as such.

They prefer the company’s service due to the convenience it offers to users. On the CEX.IO LOAN platform, customers can borrow cash against their cryptoassets in a quick and simple manner, without having to deal with credit checks or any unnecessary paperwork.

CEX.IO LOAN serves various cryptocurrency market participants, from retail investors and traders to startups and large enterprises. Users can borrow any amount between $500 and $100,000 at competitive interest rates starting at 8.75% per year and the loan duration ranging from seven days to one year.

The service has already experienced high demand from VIP clients, with 41% of all CEX.IO LOAN customers borrowing cash against Bitcoin, 53% – against Ethereum, and 6% – against decentralized finance (DeFi) tokens. 

While retail investors borrow $1,400 on average, VIP clients request larger-sized loans, with the typical amount being $1 million or higher. Institutional clients also need the funds for more extended periods (usually, 6-12 months), which indicates a long-term asset management strategy.

“As institutional investors find the digital asset industry increasingly attractive, it’s a pleasure to serve them with our enterprise-grade instant crypto-backed loan platform. Security, convenience, and compliance are key priorities for corporate clients, which are features that we have been providing to all our clients in the rapidly growing CEX.IO ecosystem,” Anton Chashchin, Commercial Director for the CEX.IO LOAN service, stated.

About CEX.IO LOAN

CEX.IO LOAN is a part of the CEX.IO Group. Founded in 2013, CEX.IO operates one of the largest international exchanges of the cryptocurrency market, which has been featured among Crypto Compare’s ten best exchange services. With offices in the UK, USA, Ukraine, Cyprus, and Gibraltar, CEX.IO serves over 3 million customers worldwide. From entry-level users to professional traders, as well as institutions and businesses, CEX.IO suits the needs of various crypto market participants with a reliable, high-security digital asset service.

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America’s Oldest Bank Embraces Cryptocurrency

The Wall Street Journal is reporting this morning that America’s oldest bank, Bank of New York Mellon Corp., is formally entering the cryptocurrency market:

The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.

Digital assets are becoming part of the mainstream,” said Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.

Wall Street Journal, February 11, 2021

It’s difficult to imagine a stronger signal that Bitcoin and cryptocurrencies are heading towards mainstream adoption.

HODL.

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CME Launches Ethereum Futures

CME Group, the world’s leading and most diverse derivatives marketplace, today launched Ethereum futures, further expanding its crypto derivatives offerings in this emerging asset class.

“As institutional demand for transparent, exchange-listed crypto derivatives continues to increase, we are pleased to launch our new Ether futures contract,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. “The addition of Ether, along with our liquid Bitcoin futures and options, will create new opportunities for a broad array of clients, whether they are looking to hedge ether positions in the spot market or gain exposure to this cryptocurrency on a regulated derivatives marketplace.”

“Just like in other capital markets, derivatives have become the avenue of choice for institutions to access cryptocurrencies,” said Sui Chung, CEO of CF Benchmarks. “Our status as a U.K. FCA regulated benchmark provider, whose compliance is regularly audited by Deloitte, gives institutions further confidence to enter the cryptocurrency space via the CME Ether futures contact based on our CME CF Ether-Dollar Reference Rate. For the first time, investors can gain exposure to the second-largest cryptocurrency by market cap via a U.S.-regulated futures contract. Just as Bitcoin futures paved the way for institutions to enter the crypto market in 2017, so CME Ether futures will allow CME Group clients to gain even greater exposure to the asset class.”

“CME Group has been an integral participant in the continued institutionalization of this asset class, and the launch of Ether futures is yet another milestone,” said Michael Moro, CEO of Genesis Global Trading Inc. “Genesis is excited to continue to work closely with CME in this effort.” 

“The launch of CME Ether futures is an exciting addition to the digital assets ecosystem as it evidences the ongoing maturation of the asset class as a whole,” said Michael Sonnenshein, CEO of Grayscale Investments. “At Grayscale Investments, we’ve seen enormous growth in investor interest for Ethereum and we’re excited to see the growing list of financial product offerings expanding access to digital currencies.”

CME Ether futures are cash-settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether. Ether futures are listed on and subject to the rules of CME.

As the world’s leading and most diverse derivatives marketplace, CME Group enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

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Blockchain News Cryptocurrency News

Major European Cryptocurrency Payments Processor Expands To U.S.

Mercuryo.io, via a partnership with Zero Hash, begins providing access to its cryptocurrency payment services for businesses and individuals in the United States.

Mercuryo offers seamless fiat-to-crypto payment gateway solutions to corporate and consumer clients. Since its launch, Mercuryo has been serving over 600,000 users and 180 crypto projects and prominent enterprises, becoming a leading digital asset payment gateway provider in Europe.

Mercuryo features two flagship solutions: a digital asset wallet and a widget service. While the wallet provides access to seamless crypto-to-fiat and fiat-to-crypto transactions, businesses can integrate the widget directly into their apps or websites. With just a few clicks customers can purchase digital assets in their local currencies via Visa and Mastercard cards. The widget also supports Apple Pay and Google Pay services, so clients can buy cryptocurrency this way too.

“We are excited about entering the US market. We are observing an interest from this region – 41% of payments on our platform are made in US dollars. Our vision is to build a financial infrastructure that provides customers worldwide with easy and fast access to cryptocurrencies,” says Petr Kozyakov, Mercuryo’s CBDO and co-founder.

Mercuryo’s partner firm is a registered Money Service Business under the oversight of FinCEN and a licensed Money Transmitter in over 40 US states, allowing the company to offer regulated payments solutions for all its customers across the country.

“We are pleased that Mercuryo is leveraging the Zero Hash compliance and technology infrastructure to service US customers. We empower innovators such as Mercuryo who are building Finance 2.0 by providing a turnkey and totally customizable solution for transactions in a regulated ecosystem,” Edward Woodford, Zero Hash’s CEO, stated.

To kickstart the expansion, Mercuryo closed a €2.5m seed funding led by the international venture capital fund Target Global.

The company’s ecosystem has achieved significant growth last year. Its turnover went up 50 times, reaching $75.5M in Q4 2020. The number of employees has also doubled.

Founded in 2018, Mercuryo.io is a global cross-border payments network that allows businesses to send and receive transactions for products and services using cryptocurrencies. The firm operates a leading digital asset payment gateway in Europe and has partnerships with over 150 market makers.

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Ibanera Partners With Fireblocks

Ibanera, a licensed global fintech company, today announced a partnership with Fireblocks, a leading enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets.

The Ibanera platform provides account issuance, cross-border transfers, and currency exchange services to both corporate and retail customers. Ibanera customers will now be able to leverage the Fireblocks Network to safely transfer cryptocurrency funds in real-time. Fireblocks’ technology uses multiparty computation (MPC) and patent-pending chip isolation technology (SGX) to protect users’ private keys, deposit addresses and API keys.

The rising adoption of cryptocurrency has led to demand for trusted digital wallet infrastructures that offer efficiencies in payments and managing assets. Fireblocks provides secure rails for funds to be easily transitioned from cold storage or any other storage solution. The platform currently supports twelve blockchain protocols and over 300 tokens.

“We are thrilled to have Ibanera join the Fireblocks Network,” said Michael Shaulov, CEO of Fireblocks. “Providing support for Ibanera gives us the opportunity to extend our secure MPC wallet services to an innovative, licensed provider that services a multitude of industries globally.”

“Fireblocks is a global leader in digital asset security. Our partnership provides another layer of protection for customers using various cryptocurrencies for cross-border payments and balance transfers,” said Bjorn Snorrason, General Manager of Ibanera.

Ibanera is a global fintech firm regulated in the United States, Canada, Europe and Singapore. As an innovative financial services platform, Ibanera provides businesses and individuals a seamless, user-friendly banking experience in a modern digital and global environment.

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through patent-pending SGX & MPC technology. They have secured the transfer of over $9 billion in digital assets and have a unique insurance policy that covers assets in storage & in transit. 

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Blockchain News Cryptocurrency News

Global Crypto Conference Available By Livestream January 27 – 29

Co-hosted by Delio, the Global Crypto Assets & Finance Conference 2021, where virtual asset companies from around the world gather to forecast the global virtual asset market in 2021, will be held online for 3 days from the 27th to the 29th.

The ‘Global Crypto Assets & Finance Conference 2021’ is a conference specializing in virtual asset finance in which global virtual asset finance companies such as Korea, the United States, China, Singapore, and the EU participate in the global virtual asset market. It is a place to share key information on the virtual asset financial ecosystem, as well as to discuss the future financial development direction of the virtual asset market to investors.

This conference is expected to hold a general discussion on virtual asset finance such as derivatives trading, Defi, custody, OTC, wallet, mining, traditional finance, investment, law and institution, and is divided into three sessions with in-depth.

The conference begins with congratulatory remarks from the Chairman Kwan-seok Yoon and Rep. Byung-Wook Kim, who initiated and passed the special money law, from the National Policy Committee.

At the session 1 presentation on the first day, Glenn Woo, CEO of APAC at Ledger, Ben Zhou, CEO of Bybit, Daehoon Han, Analyst at SK Securities, Kevin Huang, founder of Cabin VC, and Justin Kang, head of Delio Strategic Marketing, diagnose the trends and implications of the virtual asset industry under the theme of ‘The Current Status and Prospect of the Crypto Asset Financial Market in 2021’.

In the session 2, the topic is ‘Successful Crypto Asset Investment Plan’, starting with Annabelle Huang Vice President of Amber Group, Vice President of Chain-up Jade Chen, Hexlant CEO Jinwoo Ro, Huobi University Dr. Yu Jianing, former head of Huawei’s chief blockchain scientist Ken Huang, Hyun-woo Lee CEO of Xangle, and Seung-hwan Lee of Coinness, will present on the second day.

In the last session, the topic is “Institutions and Regulations Related to Virtual Real Estate”, Deputy Director Lee Hae-Boong of the Financial Supervisory Service will give a presentation on “Recent Regulations Related to Virtual assets.

Next, Samuel Yim from Kim&Chang talks ‘License requirements for virtual asset service providers in 2021’ and Eric Chan, attorney of ShookLin&Bok law firm talks ‘Regulation of cryptocurrency currency in Singapore’, In-Wook Kwon of IW Tax Office said ‘Tax of Investors and Virtual Asset Businesses’, Louise Shen, CEO of Wenergy,’Characteristics and Differences in the Markets of China, Korea and Indonesia’, Liyan Consulting Founder Gu Yan Xi announces ‘merging of the bank and the securities industry’.

This conference is hosted by Delio and the Korea Crypto Finance Association (KCFA) and will be conducted online in consideration of the Corona 19 prevention. Anyone who is interested in the cryptocurrency market, such as virtual asset investors, the general public, institutions, companies, financial investors can watch it through the official Delio YouTube channel without prior registration.

Justin Kang, Head of Strategic Marketing at Delio, said, “In 2021, the domestic virtual asset market is entering into full-scale institutionalization through the implementation of the Special Money Act. “This conference will share the current status of the virtual asset market and key financial issues with domestic and oversea virtual asset finance companies. It will be a meaningful place to present the message.”

In 2020, the Korea Virtual Real Estate Finance Association (KCFA) held a parliamentary seminar for the ‘enactment of a law specializing in virtual assets’ in cooperation with Democratic Party Rep. Kim Byeong-wook in to discuss the necessity of enacting a law specializing in virtual assets for the development of the blockchain industry. He has represented the voice of the industry.

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Blockchain News Cryptocurrency News

OKEx Releases Two New Decentralized Apps

OKEx, a world-leading cryptocurrency spot and derivatives exchange, is delighted to announce that the team behind the open-source blockchain OKExChain has launched two decentralized applications, OKEx Swap and OKEx Farm, on the protocol. Both these new features, along with the opening of the OKT/USDT Farm Pool commenced today at 10:00 am UTC. 

OKT withdrawals also opened at the same time, giving OKT holders the ability to stake OKT along with USDT in Swap to earn OKT-USDT LP tokens. These can then be used to stake in the OKT-USDT Farm Pool for additional earnings, such as mining new OKT.

The OKEx Swap and Farm initiatives have been enabled by the initial stability testing of the OKExChain mainnet that generated tens of thousands of OKT block rewards (according to OKExChain’s block reward rules). These tokens have not yet been allocated, meaning that OKT holders can unlock significant rewards by mining OKT on-chain.

The size of the reward will be voted on by the OKT/USDT whitelist pool on Jan. 26 at 10:00 am UTC. If the vote is approved, a snapshot will be taken according to the blocks that voted in favor, and the accumulated OKT will be distributed according to the proportion of OKT-USDT LP tokens that they had staked in the OKExChain Farm pool when the proposal was approved.

The amount of OKT that users can mine is equal to the number of tokens staked divided by the total number of tokens in the Farm Pool, multiplied by the cumulative amount of OKT. After the cumulative OKT allocation is complete, users can continue to mine through the OKT-USDT Farm Pool. Staking starts as soon as the Farm function is launched. 

“The phased launch of OKExChain is moving along at a very encouraging pace. Already after completion of the initial stage, we have seen its native token, OKT, commanding an all-time high of $86.54 in its first days of trading on the OKEx platform. We’re thrilled that the team behind OKExChain has been able to provide OKT holders with even more benefits through the Swap and Farm initiatives and to see OKExChain expanding its utility,” commented OKEx CEO Jay Hao.

In addition to staking and mining rewards via OKEx Swap and Farm, OKT provides users with further immediate utility and benefits, including voting rights and transaction-fee payments for decentralized exchanges and other DeFi applications built on the network. OKT is currently available to trade on the OKEx platform with zero fees on all trading pairs for the first 30 days.

For further information on OKEx Swap and OKEx Farm DApps, please visit the OKEx Support Center here.

OKEx is a world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto investors, miners and institutional traders come to manage crypto assets, enhance investment opportunities and hedge risks. OKEx provides spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

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Huobi Global Reports Trading Volume Of $2.3 Trillion In 2020

Huobi futures has noted that in 2020 there has been an impressive $2.3 trillion traded with an average of 6.3 billion per day. Within two years since its launch, Huobi Futures is now the largest cryptocurrency derivatives exchange by trading volume.

The futures market on Huobi has proven to be a popular and robust trading platform at a time where this style of trading and investing in cryptocurrencies has become increasingly popular. Marching alongside a steadily increasing price in Bitcoin, and other altcoins, Huobi Futures has kept pace with the needs of the market.

According to the statistics of TokenInsight, BTC rose by 90% from September to October last year. The open interest of BTC/USD swaps has risen from $1.2 billion to $2.4 billion in the same period with a growth rate of 100%. 

Making the process better

Huobi Futures has looked to keep in touch with the wants and needs of traders in order to offer a service that is robust, flexible, and easy to use. This has seen a number of different products and trading innovations launched.

From Coin-margined swaps to USDT-quoted options and coin-margined bi-quarterly futures, Huobi Futures offered improved services that lead to a new all-time high in 24-hour volume of over $28 billion on Nov. 26th.

Coin-margined Futures was the first product of Huobi Futures. Launched in December 2018, its trading volume has sustainably ranked first in the derivative market in only eight months. At present, Huobi’s coin-margined futures trading has included 13 major crypto assets with a unilateral trading volume of $1.32 trillion in 2020.

Following the introduction of their first flagship product coin-margined futures, coin-margined swaps launched on Mar. 27, 2020 and exceeded BitMEX, the largest coin-margined swaps exchange at that time, in 45 days. Its annual trading volume reached $785.5 billion in 2020 and it has covered 57 mainstream currencies, including a wealth of DeFi currencies for users to choose from.

In September last year, Huobi launched USDT-quoted options whereby users could trade without worrying about the risk of liquidation. 

The fourth product USDT-margined swaps. Launched in Oct. 26, 2020 its trading volume has grown rapidly with its cumulative trading amount exceeding $177.8 billion in just two months. 

What Has Huobi Futures Done In 2020?

Robust risk-control system and zero clawback

Huobi Futures is the first digital asset derivatives exchange in the industry that supports a three-phase liquidation protection mechanism and no transaction fees will be charged in partial liquidation. Moreover, the platform uses Exponential Moving Average (EMA) as a second reference for forced liquidation.

Due to its strong risk control system, the platform holds a record of zero clawback for 752 days since its launch in December of 2018. In version V6.3.0., the system has a throughput of 10W+, the response speed of placing and canceling orders is within 6ms, and the link delay is within 25ms.

Innovative functions

Huobi Futures supports multiple order types including Limit Order, Trigger Order, IOC and FOK. To improve the asset utilization and to reduce trading cost, Huobi introduced lots of innovative features like locked margin mechanism, take-profit and stop-loss, real-time settlement, Follow a Maker & Taker, etc. 

Huobi Futures also designed the “Switchable Leverage When Holding Positions” function for its coin-margined positions. With no need to close positions first, users can switch leverage with positions holding as long as there is no open order. All these exciting functions empower both institutional and retail traders to fetch out maximum benefits in derivatives trading. 

VIP level evaluations based on USD amount

Due to the fact that most crypto exchanges require at least hundreds of BTC to be traded per month to reach their VIP standard, many traders have been rejected by these platforms to get a VIP when the annual increase in Bitcoin price has risen by 400%. 

On Huobi Futures, as long as you have assets worth of 30,000 USDT in Huobi Futures account, you will be qualified for VIP. In addition to that, Huobi introduced an upgraded VIP Sharing Program, that is, VIPs of any other exchanges are considered as Huobi Futures VIP+1. Users could provide certificates of VIP level on other platforms to apply for a VIP+1 level on Huobi Futures for coin-margined swaps and coin-margined futures trading.

Conclusion

As we head into 2021, it appears there has been a further shift towards the digitalization of most things, including money. 

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Terra (LUNA) Token Launched On Voyager Digital

Voyager Digital Ltd., a publicly-traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade crypto assets, today announced the listing of the Terra (LUNA) Token on the Voyager platform, expanding Voyager’s industry-leading offering to 57 digital assets.

“By adding the LUNA Token to the Voyager platform, our U.S. customers will now have one of the first direct fiat-to-crypto on-ramps available on mobile devices,” said Steve Ehrlich, Co-founder and CEO of Voyager. “Our commission-free agency broker platform is quickly becoming the most trusted and transparent vehicle for investors to buy, trade and hold digital assets. We will continue to enhance our customer-centric platform with additional offerings including debit and credit cards, margin and the listing of other digital assets.”

Terra LUNA is a next-generation smart contract platform and programmable money for the internet. Terra’s platform supports stablecoins that offer instant settlements, low fees and seamless cross-border exchange, and are loved by millions of users and merchants.

“Both Terra and Voyager are making crypto and blockchain more accessible for mainstream adoption,” added Terra Co-Founder and CEO, Do Kwon. “Terra’s focus on merchant and payment adoption will be pushing the future forward on blockchain-powered digital payments. We’re excited to be partnered with Voyager, availing the power of LUNA to the masses.”

About Terra
Terra‘s stablecoin ecosystem aims to make money easier to spend and more attractive to hold for users. Terra is the first (and today the largest by market cap) algorithmic stablecoin protocol in existence, supported by the Terra blockchain’s native asset, LUNA. Terra creates stablecoins pegged to the world’s major fiat currencies (USD, EUR, CNY, JPY, GBP, KRW, and the IMF SDR) that deploy decentralized monetary supply controls to retain value, generate stable interest, and keep transaction costs low. Terra now has the third highest number of transactions of all blockchains (after BTC and Ethereum) and is generating 13M USD in fees annually. TerraKRW today powers Chai, one of the largest e-commerce wallets in Korea, which hosts over 2 million users and generates $1.2 billion in annualized transaction volume. Investors in Terraform Labs (TFL), the group behind Terra, include Arrington XRP Capital, PolyChain Capital, Binance Labs, Huobi Capital, FBG Capital, and TransLink Capital.

About Voyager Digital Ltd.
Voyager Digital Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace.

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Coinshares See Record Trading Volume At The Start of 2021

Europe’s Largest Digital Asset Manager Crosses $2.9B in AUM as Investors Rush Into Bitcoin Amidst Rally

CoinShares, Europe’s leading digital asset investment firm, is proud to announce that the Company’s XBT Provider line of exchange traded products reached record trading volumes on Monday, January 4, 2021.

With more than $202M in XBT certificates changing hands on the market’s first day of trading in 2021, CoinShares had the highest volume traded in any European listed crypto ETP. XBT Provider is a Swedish-based issuer of exchange traded products listed on Nasdaq Stockholm AB – part of Nasdaq Inc – and is wholly owned by the CoinShares Group.

Bitcoin markets have seen a surge in activity demonstrated by Bitcoin crossing $30,000 on January 2, 2021 and its continued rally, hitting highs of $34,500. Over the past seven years CoinShares has set the standard for trust and transparency provided to investors, putting the Company in a unique position to bridge the gap between institutional investors and digital assets.

“We are seeing an unprecedented volume of interest in Bitcoin from institutional investors,” said Frank Spiteri, CoinShares’ Chief Revenue Officer. “As wealth managers, private banks and European institutions look to add Bitcoin to their portfolios, our ETPs are the logical choice. With over seven years of experience in the marketplace, CoinShares is one of the world’s leading digital asset firms with unparalleled experience and expertise.”

Since listing in 2015, XBT Provider has achieved a number of milestones:

  • December 2017: XBT Provider crossed $1B in AUM for the first time.
  • January 2018: XBT Provider reached $182M in daily turnover, with average daily volume of $85.5M.
  • March 2019: CoinShares’ XBT Provider was named Europe’s most Innovative ETP Provider.
  • November 2020: XBT Provider surpassed $2B in AUM.
  • January 4, 2021: XBT Provider reached $202M in daily turnover and $2.9B in AUM.

Chief Executive Officer at CoinShares, Jean-Marie Mognetti, added, “The narrative shift around Bitcoin over the last six months has been profound. Investors used to consider it a risk to allocate to bitcoin. Now it’s a risk not to allocate to Bitcoin. As more investors look to Bitcoin as a viable investment option, our XBT Provider products continue to offer exposure to Bitcoin via traditional brokerage accounts across Europe, making it easy for investors of all types to gain exposure to Bitcoin without the premium associated with other products in the market or the risk of trading and securing your own assets.”

About XBT Provider

XBT Provider AB, a CoinShares company, is the Swedish-domiciled issuer of the Bitcoin Tracker One (COINXBT:SS), Bitcoin Tracker Euro (COINXBE:SS), Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS) series of certificates and others which are designed to synthetically track the performance of the price of the relevant underlying crypto-asset, bitcoin or ethereum (in Swedish Kronor or Euro, respectively), less a fee component.

In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. The Certificates are available and traded in the same manner as any other share or instrument listed on the Nasdaq Stockholm.

XBT Provider’s Prospectus is approved by the Swedish Financial Supervisory Authority and the Certificates are governed by Swedish law. XBT Provider is not a licensed financial advisor.

About CoinShares

CoinShares is Europe’s largest digital asset investment firm, managing $2.9 billion of assets on behalf of a global client base. Their mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing this new asset class.


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Cryptocurrency News

Megaupload Founder Chooses Bitcoin Cash For Digital Tool Suite

Kim Dotcom, whose website Megaupload was once the 13th most popular site on the Internet and responsible for 4% of all Internet traffic, has launched a new digital too suite it describes as “The Ultimate Content Monetisation System”. The company aims to become the easiest and most secure way to generate revenue with digital content.

The company, K.IM states the ability to turn “digital files into file shops. Users can use our service to package a file that they want to sell into an encrypted container file and then they can place it anywhere on the Internet. Customers who want to access the content inside the encrypted container can make a payment using cryptocurrency like Bitcoin Cash.”

Asked why he was excited about K.IM and Bitcoin Cash in particular, Dotcom said that while Bitcoin (BTC) has been a great tool for asset storage, Bitcoin Cash is “great for payments” for services like K.IM and offers new financial opportunities for consumers, vendors and investors. Kim had the following to say about the crypto market:

“My opinion is that crypto use is on the rise and BCH is in a good position to accumulate market share. For me it’s simple: The more users you have the more value you have.”

“The winners in the crypto race will be decided by vendors and users. Focus on the fundamental question: What do vendors and users want? Low fees, fast transactions, high security and ease of use.”

He went on to say that Bitcoin Cash was currently “undervalued” and that the “upside potential for those who missed the BTC train” is enormous. Bitcoin.com Founder and friend of Dotcom, Roger Ver, said that Dotcom has “always been ahead of the rest of the market and that people should pay attention to his predictions.” He went on further to say:

“When you look at interest in BTC these days, a lot of it comes in trying to chase its historic investment gains. As long as the price keeps going up, there is going to be a lot of interest. But what happens when people want to start actually using it to pay for things? They will discover the limitations of Bitcoin and look for an asset that can be both an investment and a true peer-to-peer payment system like Bitcoin was originally meant to be. That’s what Bitcoin Cash is.”

Speaking further on Bitcoin Cash, Ver said the following:

“It has all the great qualities that helped BTC become a store of value but it’s not artificially rate limited. Entrepreneurs like Kim Dotcom can actually use it to build their business without relying on central parties to provide payment layers. It’s not surprising that he would be so bullish about Bitcoin Cash.”

Ver said that K.IM is one of the most exciting products he’s seen in years and has the potential to get millions of people using cryptocurrencies like Bitcoin Cash which can handle the massive volume Dotcom’s businesses have created in the past.

About K.IM

Providing advanced services and technologies to manage, protect and sell digital content, K.IM will revolutionize the monetization of digital content and create a fair market for content creators and consumers.

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Australian Mining Firm Gets Purchased By Wize Pharma, Inc.

Wize Pharma, Inc. (OTCQB: WIZP), a clinical-stage biopharmaceutical company focused on the treatment of ophthalmic disorders, and Cosmos Capital Limited, a leading digital infrastructure provider based in Sydney, Australia, today announced that they have entered into a bid implementation agreement whereby Wize has agreed to make an off-market takeover offer to acquire all of the outstanding shares of Cosmos, subject to satisfaction of various closing conditions set forth in the BIA, resulting in Cosmos becoming a wholly-owned subsidiary of Wize.

“We are excited about the Wize Cosmos transaction,” stated Noam Danenberg, CEO of Wize. “The Cosmos team brings a proven track record, experienced management and logistics capabilities within the Bitcoin mining industry. Consistent with our focus on maximizing value for our shareholders, this transaction provides a continuing interest in our LO2A biomed activity, through the creation of a contingent value right, while providing exposure to Cosmos’ Bitcoin mining operations.”

James Manning, CEO and founder of Cosmos, commented, “Through this transaction we are excited to be providing public markets access to our digital infrastructure business and have enjoyed working with the like-minded Wize team throughout this process. Becoming a part of a publicly traded company is central to our continued growth and will allow us to accelerate our expansion plans moving forward.”

Key Transaction Details

Under the terms of the BIA, Wize will commence an off-market takeover offer under applicable Australian laws to acquire all of the outstanding shares of Cosmos (the “Offer”) in exchange for 38.78 shares of Wize common stock and 22.33 warrants (each to acquire one share of Wize common stock) (the “Milestone Warrants”) for each Cosmos share (subject to a minimum tender of at least 90% of Cosmos’ outstanding ordinary shares). Subject to certain exceptions, the Milestone Warrants will become fully exercizable into Wize common stock provided Cosmos warrant holders retain the Wize stock issued to them until December 31, 2021 (the “31 December Milestone”).

Upon completion of the transaction, and assuming all of the holders of Cosmos shares accept the Offer, Cosmos shareholders will own approximately 81.3% of the outstanding common stock of the combined company (87% if all of the Milestone Warrants become fully vested), while Wize existing shareholders will remain the owners of approximately 16.3% of the outstanding common stock of the combined company (11.1% if all of holders of the Milestone Warrants satisfy the 31 December Milestone and the Milestone Warrants become fully vested), each on a fully diluted basis and including warrants to be issued to Wize’s financial advisor to the transaction.

Following the targeted closing of the transaction in the first quarter of 2021, and based on Wize’s 60 day VWAP of US$0.143 on December 29, 2020 (and assuming that all the Milestone Warrants become fully vested), the combined company is expected to have a market capitalization of approximately US$75.75 million.

Upon completion of the transaction, pre-closing Wize security holders will receive one contingent value right (“CVR”) for each share of Wize held on the record date. Each CVR will entitle the holder to a pro rata share of any consideration that may be received in connection with Wize’s existing LO2A business, subject to transaction expenses and customary deductions as detailed in the CVR agreement.

Following completion of the transaction, it is expected that the combined company will have approximately US$5 million in cash and cash equivalents. Cosmos will retain its experienced management team, with Cosmos’ CEO and founder James Manning assuming the role of CEO of the combined company. The Board of Directors of the combined company will consist of three members designated by Cosmos and one member designated by Wize, and the combined company will seek shareholder approval to be renamed Cosmos Capital, Inc. (or similar name), and to effect a reverse share split of the combined company’s common stock.

Independent Expert Report

The BIA provides that Cosmos will obtain an Independent Expert Report to opine on whether the transaction is fair and reasonable to the shareholders of Cosmos not associated with Wize. The IER will be provided to Cosmos shareholders with the Target Statement to be sent to Cosmos shareholders.

Unanimous Recommendation of the Cosmos Board

The Cosmos Board of Directors have carefully considered the BIA and the terms of the Offer and unanimously recommend that, in either the absence of a superior proposal or the IER concluding that the Offer is neither fair or reasonable, Cosmos shareholders ACCEPT THE OFFER once commenced and have indicated that they will ACCEPT THE OFFER in respect of all Cosmos shares they own or control.

Closing

The closing of the transactions contemplated under the BIA and the PIPE agreements is subject to the satisfaction of certain customary closing conditions, including 90% minimum acceptance of the Offer by Cosmos shareholders, and is expected in mid to late first quarter of 2021. The full conditions to the Offer will be set out in the Bidder Statement which Wize expects to dispatch to Cosmos shareholders as soon as practicable.

What exactly is “bitcoin mining” and how does it effect the buyers of the cryptocurrency? Basically, when you buy a large amount of bitcoins, you are purchasing large chunks of virtual currency that is completely virtual (you don’t have to actually touch it to feel its value) and is stored within the computer of the buyer called a “miner”. The miner “mines” the currency and that process is what makes the coins valuable. Usually, the more work that is done to secure the coins, the more valuable they become.

But how does the value of a unit of currency get created? This is simple – it’s all about supply and demand. When there are more buyers than sellers, the price of that unit of currency rises and vice versa. So, with that being said, if there aren’t enough people mining for bitcoins, you can expect the price to rise because there will be less people willing to pay for them, which in turn will drive up the price of each unit. It is this process that people call “bitcoin mining” – this is where some people use specialized ASIC computers to attempt to “mine” the currency by solving mathematical problems.

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Blockchain News Cryptocurrency News

P2PB2B Adds AVEX Token to Their Cryptocurrency Exchange

AEVOLVE has announces that P2PB2B, one of the world’s fastest growing cryptocurrency exchanges, has listed AEVOLVE’s AVEX medical blockchain token. The AVEX token, which helps individuals take an active role in advancing medical innovations around the world, has delivered a huge punch jumping 150% since its initial listing on the LATOKEN cryptocurrency exchange. 

P2Pb2b
P2Pb2b

“P2PB2B is delighted to support AEVOLVE and its AVEX token on our exchange. We hope that our cooperation with AEVOLVE would be fruitful and that AVEX listing on our exchange would help propel AVEX to where it belongs,” said the representative of P2PB2B.io exchange.

“AEVOOLVE works globally within a vast network of medical professionals, patients, and investors who help drive innovation that is essential to the creation of new medical solutions,” said Mark Chester, COO of AEVOLVE.  “The AVEX token allows members of the crypto community greater exposure into the biotech and pharmaceutical industries and helps medical innovations quickly reach market availability.”

The AVEX Token gives the crypto-community exposure into the multi-billion dollar pharmaceutical and biotech industry as the medium of exchange on a multi-faceted platform, bringing patients, re-search organizations and medical professionals together with the entertainment industry.

Patients and their families will be able to learn of new life-enhancing medical innovations and obtain an exclusive reservation as one of the first people to access these treatments and cures, the moment they become available. One exciting feature about these reservations is that they are digital blockchain assets that can be sold and transferred on a marketplace, providing liquidity at the click of a button.

AEVOLVE has also jumped into the ring with EntroBox to raise awareness through major fundraising events, including an upcoming Mega Boxing event in 2021 staring boxing legends and rising stars. These events will be supported by the world’s leading social influencers and will be the first crypto-enabled pay-per-view platform using the AVEX Token.  These events will spotlight the medical innovation needs in the marketplace while simultaneously boosting the access and trading of the AVEX token on participating cryptocurrency exchanges.

This heavily weighted social influencer event will open with various performances and major entertainment from mega influencers, including an impressionably rousing rendition of our national an-them, prior to the main boxing event. ENTROBOX is co-founded by its CEO, Ronald (“The American Dream”) Johnson, the current GBO Heavy Weight Champion. Johnson said, “Our partnership with AEVOLVE brings a new era into mega entertainment events where everyone can be a part of impacting lives with cutting-edge medical breakthroughs, while having an experience of a lifetime. By letting the world access our events with crypto, this will open parts of the world who do not use credit cards to watch and enjoy their favorite boxers, stars and influencers in real time!”

According to AEVOLVE founder, Rogelio Santos, “Our mission is to deliver the world’s most powerful and impactful medical treatments and solutions over the next decade. We will do this by removing the financial obstacles that have hindered important medical technologies from getting to the people that truly need them and by empowering the scientists and medical innovators behind these solutions with an unprecedented voice to rival the marketing machine of the pharma giants.”

How the Conceptualization of Cryptocurrency Can Benefit the Healthcare Industry

A Cryptocurrency Obligation is an article exploring the relationship between Cryptocurrency and Medical Records. The article was co-authored by Edward Czarnet, Associate Professor of Law at the University of Colorado School of Medicine, and Juan Parra, a Senior Director of Ensenada Software, a leader in the development of enterprise systems that leverage the power of distributed computing. The paper was accepted for publication in the Journal of Current Medical Science. This article is presented as a preliminary research abstract. The full journal publication will be accepted for publication in the Journal of Medical Internet Research.