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NordikCoin Expanding To Asian Markets

Leading Estonian high-tech cryptocurrency exchange service, NordikCoin, is announcing that it will start accepting customers from Asian markets. The company will first begin accepting customers in selected jurisdictions, while further expansion is expected to continue in 2021. Whilst expanding its global reach, the company itself and its day-to-day operations will continue to be domiciled in global cryptocurrency haven Tallinn, Estonia.

Bitcoin on the rise

Bitcoin has been in the limelight for over a decade now, rapidly expanding its scope of applications, and continuously rising in value. On January 8th 2021, Bitcoin hit a new milestone by surpassing $42,000 in value, proving that its popularity is steadily increasing.

To support the rise in demand, Estonian cryptocurrency exchange NordikCoin will apply its European KYC and AML rules to customers from new Asian jurisdictions, with the main focus on security and compliance. NordikCoin’s AML/KYC policy stands for Anti-Money Laundering and Know Your Customer and was designed to prevent and mitigate possible risks of money laundering and terrorism financing.

NordikCoin aims to be one of the fastest and most hassle-free ways of buying Bitcoin. The exchange supports all major credit cards, whilst crypto wallets are provided free of charge to its customers. Due to the innovative use of electronic ID solutions, users from supported jurisdictions can set up their accounts in under five minutes – after which they can start trading Bitcoin immediately. The company is known for bringing innovation into the cryptocurrency space, being one of the first Bitcoin exchanges with Lightning Network protocol support. 

Inevitably, one of NordikCoin’s main priorities has been to follow all the latest cybersecurity standards and best practices, ensuring that the cryptocurrency exchange environment is safe and reliable for all users across the globe. This is, in part, due to the fact that the team behind NordikCoin is comprised of experienced lawyers, auditors and technologists from around the world.

Japan next for rapid expansion

One jurisdiction which is being considered for NordikCoin’s Asian expansion is Japan. The country has witnessed a notable surge in Bitcoin holdings by 11%, suggesting that it’s the perfect launchpad. Several crypto exchanges are already present and thriving in the Japanese market, regardless of current COVID-19 restrictions and difficulties. Key exchanges include Okcoin, Bitflyer, Bitbank and Btcbox, among others.

David De Marco, CEO of Omni Matrix Ltd, the parent company of NordikCoin.com, shares his excitement for the Asian expansion plans:

– Our expansion into the Asian market marks a unique opportunity for the company to present its innovative cryptocurrency trading services globally. We are thrilled to announce that we will be expanding our customer onboarding processes to facilitate clients from Asian markets. We are confident that this is the perfect stepping stone for the new era of cryptocurrency exchange with NordikCoin leading the way.

Asia has been dominating the cryptocurrency market in the past couple of years, with financial giant SBI taking a lead. The company made a series of crypto moves recently including a planned 2022 launch of a digital exchange with Switzerland’s SIX, a partnership with Ripple and, most recently, the acquisition of U.K.-based cryptocurrency trading firm B2C2. Asia has been found to adopt blockchain technology much faster than many Western countries, incorporating innovations quickly and efficiently. NordikCoin’s expansion plans seem to be a great way for Europe and Asia to join forces and increase efforts of pushing Bitcoin and cryptocurrency into the limelight. 

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Cryptocurrency News Ripple News

Kraken Joins Growing List Of U.S. Exchanges Delisting XRP

XRP just is not winning now, as Kraken currently stands as the newest crypto exchange set to suspend trading in XRP tokens. The reason given, similar to the a number of other institutions as well as exchanges which dropped XRP like a hot potato in recent weeks, was because of the SEC enforcement actions brought against Ripple.

Kraken announced on Jan. fifteen that it will halt trading in XRP for US residents. From the company’s statement:

Given the recent SEC filing against Ripple Labs Inc., we are halting XRP trading for U.S. residents no later than January 29, 2021 at 5pm PT (January 30, 2021 at 1:00 UTC). We may begin implementing this process at any time on January 29, 2021, so all U.S. clients are strongly encouraged to resolve their positions prior to that day.

U.S. residents with open XRP spot positions on margin should satisfy their margin obligations by January 28, 2021 at 11:59pm PT or their positions will be liquidated in accordance with our Terms.

The exchange specified that US residents would still be in a position to deposit, hold, and withdraw XRP after the freeze takes place. The activity impacts just US residents; “Clients residing in some other places aren’t affected.”

The announcement additionally contains a FAQ list. It covers subjects like just how long the ban can last (they will adjust to any kind of change in the SEC saga). The upcoming change to a deposit-hold-withdraw mainly regime might improve when the circumstance should improve. Furthermore, the company’s plans about the Spark token airdop remain unrevised.

The SEC Move

News about Ripple has been decidedly negative since the SEC filed its lawsuit against Ripple. The SEC claims that the company sold $1.2 billion of unregistered securities in the type of XRP tokens. Former CEO Christian Larsen along with current CEO Brad Garlinghouse can also be charged with offering another $600 million in unregistered securities in the type of XRP.

Ripple Labs is actually guarding itself in court and in the media. Garlinghouse especially has taken to Twitter to clarify the company’s position, stating that nobody has been quiet, neither can they give up this fight. Garlinghouse claims to be on the proper side of the facts and of history, and is looking forward to Ripple’s day in court – in addition to engaging with the brand new SEC leadership when appointed.

Ripple Treading Water

Exchanges with substantial US exposure even moved fast. Garlinghouse observed that the US accounts for approximately five % of XRP holders, though the exchanges kept a watch on compliance. Bitstamp, Binance, Coinbase, along with OKCoin are actually among the exchanges which have signaled stoppages.

In a single indication as to just how Ripple is going to leave this eddy of exercise, SEC Commissioner Hester Peirce, commonly recognized as ‘Crypto Mom‘, reported in a recent interview that fees like these frequently get settled out of court.