The global digital asset trading platform KuCoin has made on Thursday the announcement that it’s launching a white-label solution that will allow its customers to make in only 72 hours fully functional crypto exchanges.
The platform will be called KuCloud and have 2 products to offer: XCoin and XMEX. Both these products will include KuCoin Spot and KuMEX Futures’ functionalities. Here’s what KuCoin’s co-founder Johnny Lyu said about KuCloud:
“The idea of KuCloud started in 2018 as a concept called ‘subnets’, with which we intended to give our exchange a powerful advantage when expanding into new markets since each new exchange can act as a separate entity.”
The Platform Will Be Customizable
Details about what the platform will offer were also presented in the announcement. Therefore, KuCloud will provide services of staking, spot trading, fiat gateway to as much as 150x leverage KuCloud futures trading, and margin trading. Besides, the platform will be customizable according to every client’s needs. Lyu added that:
“Now we go one step further and upgrade the ‘subnets’ to KuCloud, eliminating the difficulties and hassle of opening a crypto exchange, allowing all our partners to build crypto-related platforms with us to contribute to the liquidity and mass adoption of crypto.”
White-Label Solutions are the Future
KuCoin comes to present KuCloud soon after Binance announced the launch of a similar product. Binance Cloud will also introduce coins through an initial exchange offering (IEO) platform and use the over-the-counter trading service. More than this, it will also enable token issuers, fund managers and brokers to develop new streams of revenue and access the native liquidity of Binance.
In 2019, Huobi presented a product that’s quite the same and targets customers in North Africa and the Middle East (MENA region). In order to compete with Binance and Huobi, KuCoin comes with zero fees for launching crypto exchanges, but only for its initial clients.
Enjin has just made the announcement of an Ethereum game development platform’s launch, platform that will enable developers from all over the world to incorporate crypto assets into apps and games without having the knowledge on how to write blockchain code.
For more than two years, we’ve been building an integrated ecosystem to help blur the line between the imaginary and real.
The news was released on Tuesday and it says that game engineers will be able to benefit from what decentralized inventory has to offer, from integrating both gaming and non-gaming assets based on blockchain and from managing economic mechanics when it comes to the game play. Here’s what Maxim Blagov, Enjin’s CEO, said in a press release about the platform:
“Our platform is designed to integrate seamlessly into new and existing games alike, providing a competitive edge to studios of all sizes and across all genres.”
The ERC-1155 Token Standard Supported
The Enjin Platform is comprised of many services and tools based on supporting Ethereum’s ERC-1155 token standard web interface that developers may use in order to integrate non-fungible (NFTs) and fungible tokens in a smart contract. NFTs are used for crypto collectibles and most known for having some rare aspects. They use the Enjin coin (ENJ) to back the in-game assets’ value.
Over 2,500 Projects Already Created
According to Enjin, over 2,500 projects that use ERC-1155 have been created on the Enjin Platform’s testnet version. The standard technology is the same with the one used by the Microsoft’s blockchain-based Azure Heroes contributor program for rewards.
Enjin has more planned and it has confirmed the public release in Q2 2020 of the Godot blockchain software development kit (SDK), its well-known open source game engine. Here’s what Witek Radomski, Enjin’s CTO had to say about what managing blockchain assets at his company means:
“For the last 12 years, minting, deploying and managing blockchain assets has been a challenging process that required specialized knowledge, but this all changes today.”
German Bank von der Heydt, which was established in 1754, made on Monday the announcement that it’s developing a special-purpose Euro stablecoin.
The aim of this stablecoin will be to make tokenized securities private placements easier for investors. The bank closed a partnership with Bitbond, the blockchain financial services provider, in order to integrate tokenization into its platform. Digital securities are going to be tokenized onto the Stellar blockchain, so institutional clients will be able to make private placements.
Tokenization Eliminates Frictional Costs
According to the bank, tokenization eliminates frictional costs associated with equity sales. This is what a bank’s representative wrote on Monday:
“Securities can be traded directly without an intermediary, making financing much cheaper and less complicated.”
Custody Solution Already Developed
It seems that at the moment, von der Heydt has no plans to give the broad public access to its platform. Back in 2019, it developed with Bitbond a custody solution for clients to safely store tokenized equity. BaFin, the German financial regulator approved this custody solution after the law was changed and started to require a license for crypto custody providers. Investors will be given the option to purchase tokenized equity with the von der Heydt-issued Euro stablecoin. Stablecoins will be converted from Euros and stored in the custody solution provided by the bank.
Digital Euro Payments Will Happen in Real-Time and Faster
Bitbond’s CEO and founder Radoslav Albrecht said the beginning of April will mark the deployment of the production version and that:
“Digital euro payments will happen much faster, there will be a real-time, on-chain DvP and the bank doesn’t need to involve a third-party paying agent but can provide everything independently.”
As firm in Switzerland, is now permitted to integrate a blockchain IPO that offers tokenized shares. In an announcement made Wednesday, Andriotto Financial Services says that Overture, the firm for which it offers financial advice, is going to provide something different than what other security offerings do:
“The company has approved the first Swiss articles of incorporation that directly states the digital nature of the shares (tokens) and the use of the blockchain as the technology to keep the shareholders registry […] transfer of the company ownership can be achieved only with a transfer of the tokens on the blockchain and only the ownership of the token can give the status of shareholder.”
Overture Will Offer Class-A Shares on the Ethereum Blockchain
Overture will provide class-A shares with Zug-based EURO DAXX (which stands for the European Digital Assets Exchange) smart contracts on the Ethereum blockchain. By deploying blockchain technology this way, the efficiency in the major capital markets is boosted, claims Overture, in the sense that banks, central depository systems, broker dealers, as well as other financial intermediaries no longer need to be involved.
The native blockchain approach to the securities offerings is expected to be warmly welcomed by the most important new platforms in Switzerland, for example by the upcoming Swiss Digital Exchange from SIX Swiss Exchange.
The IPO Model to Become More Prevalent?
There are many voices saying the original IPO model, no matter if implemented on the blockchain or not, may become more and more prevalent in the crypto and blockchain space this year. This month at Davos, the CEO of Ripple, Brad Garlinghouse, said he expects more crypto companies to want to launch IPOs, so Ripple itself may be interested in a public flotation. Until now, the crypto industry had to focus solely on ICO’s, which are the alternative model for issuance, especially for new firms that don’t want to deal with the regulatory requirements of creating a traditional IPO.
ErisX has made on January 23 the announcement that it’s offering access to Etale’s institutional trading platform to its users.
This means ErisX members will be able to view market data in real-time, also to manage their account balance and to execute orders via a secure connection, just by using Etale’s API or front end.
“We are aligning the ErisX platform with best-in-class technology providers who will enhance the trading experience for our Members,” said Ian Grieves, Head of Product at ErisX. https://t.co/XMhVAoJ428
The ErisX Platform to Use the Best In-Class Technology
Etale offers complete digital asset trading solutions to institutions, including exchange connectivity, accounting, order management and market data. Its execution algorithms are built on machine learning quantitative models that enable customers to achieve the best execution. This is what the head of product at ErisX, Ian Grieves, had to say about the Etale technology:
“We want to align the ErisX platform with best-in-class technology providers who will enhance the trading experience for our Members. We are impressed with the functionality of the Etale platform and pleased to work with them to offer our Members a high-quality solution to trade digital assets.”
Regarding the partnership, Etale’s CEO, Matthew Cushman, had this to say:
“Their [ErisX] familiar infrastructure for institutional investors, unified platform for spot and regulated futures as well as state and federal licenses to help protect market integrity make the ErisX offering an attractive marketplace.”
ErisX Intermediary-Friendly Model Has Made the Digital Asset Space More Secure
The intermediary-friendly model at ErisX has made the digital asset space more conventional and secure. At the moment, the platform operates a live market for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). More than this, it also operates a regulated futures market for BTC futures that are physically delivered, planning to expand its futures offering in 2020.
The New York-based investment company WisdomTree has made the announcement that it’s going to issue a stablecoin before its competition does.
It seems Securities and Exchange Commission (SEC) actions have already been taken by the giant in this direction. The digital token it wants to launch is supposed to be a stablecoin that’s anchored to a variety of assets like public debt, fiat currencies and gold, even if this hasn’t been yet declared to the SEC. WisdomTree’s CEO and founder, Jonathan Steinberg, has been the only one to comment on the matter until now, by saying:
“You want to be early. We came to ETFs 13 years after State Street. This gives us an opportunity to be ahead of the State Streets, Fidelitys, on regulated stablecoins”.
Steinberg: Being Ahead of Competition in the Crypto World is Very Important
Steinberg also mentioned how important it is to be ahead of competition when it comes to digital currencies. In December 2019, WisdomTree launched its Bitcoin (BTC), based exchange traded product (ETP) that gives investors access to BTC without having to hold it. The product was listed on Six Swiss Exchange, the Zurich Stock Exchange that’s a leader in the world of cryptocurrency ETP-based exchanges.
WisdomTree Financed the Securrency Inc. Project
WisdomTree was last week in the center of attention for being a participant at the Securrency Inc. funding project. Securrency Inc. is also a leader, but when it comes to developing financial blockchain-based technology and regulations at an institutional level. Its project raised not less than $17.65 million.
As far as launching an ETF stablecoin goes, WisdomTree is going to offer access on the blockchain to traditional assets like property and gold. The rivals it’s planning to beat are Fidelity Investments and BlackRock, and it looks like it has already taken the necessary steps to do just that.
Telegram has made an announcement on its official website, saying it’s not going to launch its new blockchain platform called TON and the Grams cryptocurrency until it has the green light from the US regulators.
It has also been mentioned that, even while some websites are already offering Grams presales, the token doesn’t exist, as the company didn’t issue it yet. It seems the TON Blockchain that’s going to use the tokens is still in Beta Test and only after its launch, the Grams will become available for buying.
TON Will be a Decentralized Community of Third-Party Developers
As clearly pinpointed by Telegram, TON is going to be decentralized and maintained by third party contributors. This means others will contribute to its ecosystem by developing apps and smart contracts. More than this, the third parties will have the responsibility to both adopt and implement the apps and smart contracts they’re creating for TON however they see fit. Further on, Telegram has mentioned it may never maintain the platform, nor create any app for it.
Telegram Won’t Be in Control of TON
The TON Blockchain code is going to be open source and visible to anyone. Telegram won’t be in control of it, nor it will have any unique rights or managerial responsibilities when it comes to the platform. However, it will be possible for the company and its employees to hold Grams after TON is launched.
Grams Holders Shouldn’t Expect to Automatically Get Rich
As a third point, Telegram mentions that holding Grams doesn’t necessarily mean getting rich, nor that shares at Telegram will be owned by those who have bought the tokens. It clearly says Grams are not investment products and only meant to be used as exchange tokens in the TON ecosystem. It’s even stated that since the crypto market is quite risky at the moment, Grams can even make their holders poorer.
A Crypto Wallet Won’t Yet Be Integrated with the Messaging App
Telegram won’t yet create a crypto wallet for its instant messaging app, at least not until the US regulators will give their approval for such a service. This has also been posted on Telegram’s official website on January 6. Both announcements arrive just before the company’s CEO will make a deposition on January 7 in Dubai.
On December 30, BitTorrent made the announcement that the blockchain-based platform DLive is going to join its ecosystem.
This partnership will give BitTorrent’s monthly active users, who are more than 100 million, the opportunity to share peer-to-peer content and to live stream. This is what the CEO of BitTorrent, Justin Sun, had to say about decentralized content platforms:
“It’s unfortunate to see content platforms such as YouTube taking down crypto-related content, this is the issue with centralized agencies. Decentralized content platforms such as TRON’s newest partner DLive are the platforms of the future.”
DLive Hosts PewDiePie and Other Famous YouTubers
Launched almost 2 years back, DLive already has 5 million users that are active every month, plus an interesting live streaming lineup of YouTube celebrities that use it for co-streaming. These celebrities include PewDiePie, James Charles, Ninja, and Jack Black. Sun said DLive is a leader in the blockchain-based live streaming world.
DLive’s Account Systems Will Merge with BitTorrent’s
In order to integrate communities further, the DLive account systems will merge with BitTorrent’s. BLive, which is a BitTorrent live streaming platform launched at the beginning of 2019, is going to migrate and merge with DLive, while DLive will introduce ads for their services and products into the BitTorrent networks.
DLive Is Going to Migrate to the TRON Blockchain
The collaboration will have DLive migrating to the TRON blockchain. TRON was acquired in July 2018 by BitTorrent to create the largest file-sharing decentralized protocol. Currently working on the Lino blockchain, DLive will continue to support Lino until it has completely transitioned to TRON.
However, the LINO cryptocurrency DLive is using to pay content makers is no longer going to be the main unit of value. DLive will offer rewards and benefits to its existing users that make the transition into the BitTorrent ecosystem by using BitTorrent’s BTT cryptocurrency. The BitTorrent Filesharing System (BTFS) will be used by DLive as well.
Crypto exchange Binance said in an official announcement that the media reports claiming it’s buying bankrupt Liechtenstein-based Union Bank AG aren’t true.
This is what Wei Zhou, Binance CFO, had to say about the news:
“The reports that Binance is investing into Liechtenstein Union Bank or has applied with the Financial Market Authority to become a shareholder of the Bank are inaccurate.”
The rumors appeared earlier today when the Swiss financial news outlet Inside Paradeplatz said Union Bank AG, Binance and Financial Market Authority (FMA) of Liechtenstein representatives have met and that Binance signed a commitment with the bank.
Letter Saying the FMA Is Likely to Accept Binance as Shareholder
The Inside Paradeplatz report also cited a letter from November 19, a letter that was addressed to Union Bank AG’s shareholders and sent by the Zurich-based commercial lawyer Wolfram Kuoni. This is what the letter reads:
“The FMA is likely to accept Binance as shareholder. However, given that (Union Bank) as of now in default of the (FMA) order regarding own funds, FMA has made it clear that Binance must file to application for approval as shareholder and pay in amount of CHF 15 million [$15.17 million] to escrow account for a later capital increase by the end of November.”
Furthermore, it also adds that if the arrangement does not remain valid, FMA will withdraw the bank’s license and force it to liquidate.
Binance is Open for a Partnership with Union Bank AG and its Investors
More than this, Binance bought India-based crypto exchange WazirX last month too. In September, it got the Seychelles-based platform for derivatives JEX and turned into Binance JEX for crypto future, perpetual contracts, and options, while in July, it acquired the US-based mobile wallet firm Trust Wallet, making its first acquisition.
Chinese President’s recent announcement regarding accelerating the use of blockchain technology followed by the passing of crypto law and the impending launch of the central bank-issued digital currency fits perfectly with China’s plan of world domination.
The world’s most populated country is known for being tech-centered and accelerated rapid growth and an authoritarian government like the current Communist Party of China really makes it easier for them to streamline policies and regulations. In the last decade, there has been a gradual shift of world power from West to East especially Asia, and China with its human resources and government policies are leaving no stone untouched to ensure they are at the front of becoming the next superpower.
However, the ongoing trade war and the tussle of becoming the next superpower is giving rise to a new age of digital financial ecosystem. Everyone in the government and private sector is aware of this and are using it as leverage as well. This was evident from the ongoing dilemma of Facebook with its Libra digital currency project. Libra has been at the receiving end of regulators, banks, and governments around the globe as policymakers pointed out that Libra does not share any characteristics of cryptocurrencies. Many even accused Libra of piggy riding the existing financial infrastructure which the existing institutions pay billions only in compliance fee.
Libra use the China Card
Regulators and governments around the globe started to call for libra’s total ban and many European countries like France and Germany went ahead to prevent any further development of the project in their nation.
During a Congressional hearing, Facebook CEO Mark Zuckerberg insisted if the US does not approve of a universal digital currency like Libra China would take the lead. However, Zuckerberg assured that they won’t go ahead with the launch unless they meet all regulatory needs.
It turned out that China was indeed closely monitoring the progress of Libra, as they accelerated their CBDC program right after the announcement of Libra and several reports have pointed out that China may launch its digital Yuan before the end of this year.
The Role of Universal Digital Currency
The US dollar is currently the king currency in the international trade market and this has given the United States unparallel powers which allows them to put sanctions on countries who are not in their good books. The ongoing trade war and the growing level of awareness and acceptance of digital currencies had opened the gates for several new opportunities including creating a borderless digital currency.
China despite being skeptical of cryptocurrencies, kept its focus on the underlying technology of blockchain. One of the main reasons for them to create a digital currency was to ensure that decentralized cryptocurrencies like Bitcoin won’t foray into their financial realm.
However, the ongoing tussle to control the international trade market has given a boost to the acceptance of digital currencies.