60 Latin American Banks To Start Using Bitcoin For Cross-Border Payments via Bitex Crypto Exchange

Bantotal, a banking service based in Uruguay with over 60 banking clients, has recently started a partnership with Bitex, a crypto exchange. With this partnership, the bank will help banking institutions to make cross-border payments using the Bitcoin network.

According to Bitex’s CMO Manuel Beaudroit, the integration will be a major step for banking in the region and will help to connect these institutions in a way that is more efficient than traditional methods such as SWIFT.

With this new tech, the banks will be able to access Bitex’s API and transmit money quickly to banks in the region. According to the company, these payments are five times cheaper and much faster than other methods. Before now, payments can take up to 96 hours, Bitex cuts that time in more than half.

Bitex is basically the middleman of the transactions. The banks route the payments via the company and do not have to worry about most of the specifics. This can also be interesting for banking companies because they no longer need to acquire foreign fiat currency. They can just use Bitcoin instead.

This initiative is seen by local investors as a great way to expose the market to the benefits of the blockchain. While Europe, the U. S. and Asia are already using the technology extensively, some countries are still behind the times and this solution can help to modernize their business model.

According to Santiago Siri, an expert in digital governance who works as an advisor to Bitex, using Bitcoin to be connected internationally is still not something common in Latin America, but with initiatives such as this one, it may well be in the future.

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Author: Lorraine Mburu

UltrAlpha (UAT Token): Safe Digital Asset Management Service?

UltrAlpha (UAT Token)

What Is UltrAlpha?

UltrAlpha is an innovative comprehensive service platform that supports the future growth of digital asset management. Unlike traditional security market, which is controlled by trading hours and circuit breakers, digital asset trading runs continuously throughout all geographic regions. With global policy development and adoption of crypto-assets in the offing, an increasing number of professional investment institutions are looking to enter the digital asset management market.

The global operating model of the UltrAlpha service platform is ideal for serving a broad range of institutions from digital asset trading and management industry.

Problems UltrAlpha Seeks to Solve

As many players join the digital asset management market, the main point in the industry is that investors have limited access to good investments or wealth management products. It is also difficult for trading teams or digital asset management firms to reach out to the right investors for their fundraising purpose.

Traditional Finance and Digital Assets Working Together

In traditional system of finance, a broker dealer plays an important part of capital market structure, which connects investors with investment products and supporting client trading and capital raising needs. However, the broker dealer system is not fully developed for the crypto-asset industry, which leads to lack of effective communication system between investors and investment targets.

Against that backdrop, it is critical to establish a collaborative channel for both investors and asset management firms. UltrAlpha embraces deep management expertise in traditional finance. The platform is committed to building out a professional institutional multi-service platform to support various client needs in digital asset industry.

Digital Asset Management Service Platform

UltrAlpha is a professional digital asset management service platform with a global footprint. Its token symbol is UAT. The platform is built on more than a decade of trading platform operations, investment, and risk management expertise across traditional finance to emerging digital assets. The platform aims to maintain principles of integrity, transparency, and excellence in its service provision.

How UltrAlpha Works

UltrAlpha operates on deep strategic collaboration with all the mainstream digital asset exchanges and brokers. Consequently, the platform strives to provide investors with a professional investment service platform, which they can use to select quality asset management products and to effectively support the fundraising needs of trading teams and crypto funds.

Besides, UltrAlpha seeks to offer a wide range of fund administration services for trading teams and funds that operate in the following areas:

  • Account management
  • Performance auditing
  • PL Reporting
  • Asset Transfer and many more

The mission of the platform is to support the structural optimization of digital asset trading and investment ecosystem.

Key Differentiation

  • Safeguard Client Assets: Scalable service platform and safety-first with separated hot and cold wallet setup.
  • Select Quality Financial Products: Due diligence on asset manager/trading teams
  • Low minimum investment requirement per product
  • High Efficient Processing
  • Comprehensive Services

The UltrAlpha Token

Overall, the platform’s goal is to connect potential investors and asset managers with value added services. The UltrAlpha (UAT) Token is the native digital cryptographically secure utility token of the platform. It is designed to play a major role in the functioning of the ecosystem on the UAT platform and is the solely recognized primary utility token on the platform. The UAT is issued and sold in connection with the token sale, created as ERC20 compliant tokens on the Ethereum blockchain.

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Author: Bitcoin Exchange Guide News Team

Telegram and Lantah Dispute Over GRAM Crypto Trademark, Telegram Takes Home Injunction Win

Telegram and Lantah Dispute Over GRAM Crypto Trademark, Telegram Takes Home Injunction Win

It has been recently revealed that cloud-based instant messaging service provider, Telegram and blockchain-based commerce platform, Lantah have been in dispute over who gets the rights to the name, ‘GRAM’ for their respective crypto token reports The Block.

Telegram is supposedly demanding the latter from using the aforementioned name, which led to the involvement of the district court (a lower court) and their issuing of “a preliminary injunction,” which prevents Lantah from using the name.

As per Lexology, Telegram made the following argument at the time of their complaint (which was found in paragraph 43):

“Lantah’s unauthorized use in commerce of a service mark that is confusingly similar to Telegram Messenger’s GRAM mark has caused and is likely to continue to cause confusion or mistake, or to deceive consumers and potential consumers, the public, and the trade concerning an affiliation, connection or association between Lantah and Telegram where there is no such affiliation, connection or association.”

The Block covered the specifics as to why the Ninth Circuit was part of all this. It turns out that Lantah’s lawyers appealed the district court’s granting of the preliminary injunction by having the Ninth Circuit court (higher court) evaluate the decision prior to arriving to a conclusion.

In the case of the presence of the latter, it is usually considered a step toward the Supreme Court with a panel of judges versus just one from the district court. The final judgement? The circuit court has since sided with the district court by disclosing that Telegram’s use of ‘GRAM’ was acceptable.

Here are some of the reasons why Telegram’s uses of the trademark were deemed acceptable and why the district court’s decision towards the preliminary injunction was supported:

  1. During the ICO, Telegram provided purchasers with “Purchase Agreement for Grams” in which buyers were required to make the necessary payments by a set date to receive the GRAMS.
  2. Evidence exists in relation to Telegram’s plans of distributing GRAMS

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Nirmala Velupillai

Electrum Wallet Gets Cozy with Bitcoin’s Lightning Network, Can Now Send LN Payments Directly

Electrum Wallet Gets Cozy with Bitcoin's Lightning Network, Can Now Send LN Payments Directly

Electrum Wallet, a popular wallet service, has recently announced to the world that it would start to support the Bitcoin Lightning Network. The founder of the company, Thomas Voegtlin, talked to the crypto media during a blockchain in Odessa, Ukraine, and affirmed that the launch of this new feature is very close now.

According to the CEO, the work to implement the Lightning Network on the project has been going on for a year now. After a year in a separate development, the company has finally reached the point in which they were able to merge the development with their main branch.

The launch is set to happen until the end of the current month, so the next release to be out will probably have the support the LN support.

However, there is a main difference in the implementation that will be used. Electrum will use its own implementation of the LN network, not one of the existing clients. This, the CEO believes, will give the users more control over their funds.

He also affirmed that the new product is set to be similar to Eclair, a Lightning Network-based wallet that uses the Electrum servers to work.

Electrum is one of the oldest BTC wallets in the market and this will prove to be a major upgrade in speed and reliability.

About the Lightning Network

The Bitcoin LN is a layer 2 scaling solution that is used to make the payments using Bitcoin faster. It does off-chain payments, so they are able to go through even when the network is too clogged.

Unfortunately, the project was very buggy at release at the beginning of the last year, which harmed adoption a bit right from the start and draw criticism from communities such as the Bitcoin Cash (BCH) community, one of the main competitors against Bitcoin Core (the original BTC).

Since the end of last year, however, the Lightning Network has evolved a lot and stabilized most of its issues. With the help of the Lightning Torch initiative, in which several people passed forward transactions, the awareness about the project was raised even more. Even figures such as Jack Dorsey have talked about it during the promotional initiative.

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Author: Gabriel Machado