Waves Decentralized Exchange (DEX) Shuts Down, Morphs Into Hybrid Digital Trading Platform

The Waves Decentralized Exchange (DEX) has decided to shut down its platform and start offering services to clients as a hybrid crypto platform. The information was released by the company in a press release on December 2.

Waves Launches New Crypto Trading Platform

According to the official statement released by the company, they are migrating their services from the DEX website to the new Waves.Exchange.

The official site of the Waves DEX explains that they are no longer operating the service because they want to offer users a better experience and a wide range of tools.

This is why the DEX will not be available anymore to users, that will have a new platform specifically designed to meet their needs.

It is worth mentioning that users’ funds will be safe during this time. This is very important considering many exchanges were affected by hacks and attacks during the last few years.

The new hybrid exchange is expected to become fully operational in a short period of time. Some of the new features include irreversible transactions and improved control of funds for users.

Decentralized exchanges became popular due to the fact that they allow users to remain in custody of their cryptocurrencies rather than giving the funds to a crypto exchange that handles them.

The report explains that the company will be working in order to continue with the development of its protocol. This includes the implementation of sharding and other innovative infrastructure.

The crypto exchange will be fully managed by a separate and dedicated team to make it more efficient.

The CEO of the platform, Sash Ivanov, said that the DEX was just a prototype and that they are now able to become a separate project. The main goal is to synchronize the development of the ecosystem and help the products and services offered have higher standards. He said,

“Waves DEX was a kind of prototype. Now, after 2 years of operation, it has grown and become a separate project. […] Now it’s time for us to focus on protocol development and hand over the exchange to an external team and community separate from Waves, so we can merge all the infrastructure teams into one, synchronizing development work and taking the combined product to a new level.”

In the future, they want to add support for Tether (USDT) stablecoin, which would make it easier for traders to hedge against volatility in the cryptocurrency market.

Read Original/a>
Author: Carl T

Matrixport, Startup Created By Bitmain Co-Founder, to Expand to Europe with Zurich Office

A cryptocurrency start based in Singapore called Matrixport is about to open up a new office in Europe. The startup, which was created by the CEO of Bitmain, Jihan Wu, is set to expand to Switzerland by opening an office in Zurich in the coming weeks.

In the new country, Matrixport will be known as “Chaintech” and will offer options for trading, custody and lending services to its clients. The services are set to be similar to the ones which are already being offered in Singapore, where the main branch of the firm is based.

This expansion comes only a few months after Wu first launched the company, meaning that the expansion is happening quite quickly. As soon as Matrixport opened, several ex-Bitmain employees were hired to work there. Most of them were laid off during the bear market last year and this was the chance to rehire them.

The CEO of the startup is Hui Wang, who talked to the Swiss media and affirmed that Matrixport now plans to hire 10 more employees within the timeframe of two years. The new office is set to provide full services for customers, so they will not be redirected to the Asian company in order to access the services offered to them.

In related news, Bitmain’s branches do not seem to be doing so well. Bitmain Switzerland, the company’s subsidiary in Zug, will shut down soon. The branch was originally launched back in 2018 to boost the global reach of the mining manufacturer, but it seems that it was not so successful in this enterprise, after all.

Read Original/a>
Author: Gabriel Machado

Chinese Soldiers In The People’s Liberation Army (PLA) Could See Crypto Rewards For Performance

Soldiers from China could start to receive crypto rewards soon, according to the South China Morning Post, a prominent Chinese media outlet. The information comes from an official military source, the PLA Daily. This week, it was announced that the Chinese People’s Liberation Army could start earning rewards in crypto, which would be based on each soldier’s behavior.

The goal is to “improve human resource management” and each soldier would either get or lose crypto based on data about their daily performance. This would, in the army’s view, help to generate an objective assessment of how to manage human resources better while rewarding the best soldiers.

As the blockchain is a technology that basically is impossible to tamper with, this could provide a good way to increase the levels of trust and transparency on evaluations and to make them more secure.

In the same announcement, the PLA Daily also claimed that blockchain technology could be used as an effective way to store classified military information and could improve how data is handled in the country.

Since the country’s President Xi Jinping has endorsed blockchain technology, China is living an age of high blockchain popularity.

Top executives from the government seem to be leading an effort to strengthen the use of the tech in the country and to find new ways to apply the blockchain as a way to solve problems. Other political and economic measures are also being studied by the government.

While the technology is not necessarily mainstream in the country, it is certainly becoming more well-known and accepted in Chinese social and political circles. Now, it seems that the military is about to embrace the crypto world as well.

Read Original/a>
Author: Rebecca Asseh

Cardano To Partner With COTI FinTech Firm For New ADA Payment Portal

The Cardano Foundation has recently decided to start a new partnership with COTI, a fintech company. This new partnership will see the two organizations teaming up to develop a new payment gateway for Cardano (ADA). According to the press release, the gateway will allow the merchants that use ADA to accept payments that can be directly converted to 35 different fiat currencies.

Companies can integrate the solution on their sites easily. They can either use the adaPay button or the classic Point of sale machines, which work by using QR codes. All transactions can be managed by the merchants in real-time, too, which helps in the usability of the solution.

Shahaf Bar-Geffen, known as the CEO of COTI, affirmed that the Cardano Foundation is creating a unique solution that will have new functionalities and help merchants to obtain payments in a way that is much more efficient than any other.

With the new partnership, COTI is set to create the structure for the service using its universal payment solution (UPI). The main goal of Cardano here is to create enough infrastructure so that the token gets accepted in a wide range of services and gets more popular.

Charles Hoskinson, the founder of Cardano, is pretty bullish on his own project. According to him, ADA has the potential to beat Facebook’s Libra and become one of the most important methods of payment in emerging markets.

He has affirmed that the foundation trusts COTI to develop a great solution that can expand the reach of Cardano and that will change the way that people exchange value.

Read Original/a>
Author: James W

Global Currency Organization Launches USD Digital (USDD) Stablecoin; Profit Sharing For Institutions

Former employees of JP Morgan, Intel, and TrustToken have come together to start a new firm and have released a new stable coin called USD Digital (USDD) token, backed by US Dollar. However, the new stable coin has a twist to its business model, where the institutions using the token would share the revenue.

The stablecoin has been targeted at institutions, exchanges, traders, and OTC desk who are in need of a stablecoin product but can’t develop their own. The business model would be based on 50-50 incentive sharing to propel its adoption. The creators believed that the ethereum based stable coin would provide great transparency to users.

Joe Vellanikaran, CEO of Global Currency Organization said that the coin will provide a win-win situation for adoptors, as it provides all the functionalities of a stablecoin along with the revenue sharing.

Vellanikaran started working on the stablecoin as a general manager and soon realized the potential that these coins provided to investors and institutions alike. Vellanikaran explained the importance of stablecoins saying,

“Let’s say you’re a Japanese student living in the U.S. and you want your parents to send you funds. With the current process, you’d either need a U.S. bank account or be subjected to long delays and conversion fees. With our stablecoin, you should be able to receive your funds in a matter of days.”

He believed that the era of blockchain-based currencies would become mainstream in 10-20 years, however, in order to push for that adoption, institutions need to take a big part in it. He explained,

“For a company to emerge and help move all these dollars to the blockchain, we really have to open it up to the partners. That’s what we think we can do through revenue sharing.”

Stablecoins to Bcome Mainstream in the Coming Years?

The use of stablecoins is currently most prominent on crypto exchanges where it is required for providing liquidity. However, as the crypto space is gaining mainstream traction many institutions have started showing great interest in this form of digital currency. JP Morgan was among the first institution to have announced its plans of launching a digital currency of their own, which did not materialize.

Similarly, Goldman Sacha has shown similar interest, ING’s chief economist aimed at central banks around the globe would start working on their own stable coin backed by the government.

Currently, there are only a handful of stable coins in the crypto space, out of that handful, 90% of the market is captured by Tether’s USDT. Thus, the newly launched USDD with its innovative revenue distribution for use could bring in the much-needed variety in the stable coin sector.

Read Original/a>
Author: James W

BlockFi’s Customers Can Start Earning Up To 6.2% Interest On Crypto; No Matter How Much You Hodl

BlockFi, a cryptocurrency lending platform has indicated that its customers will now start earning interest on all their deposits, regardless of whether they are GUSD (Gemini Dollar), ETH (Ether), or BTC (Bitcoin).

No Set Minimums

The crypto lending company based in New York released a statement on September 13 stating that its customers could now start earning interest on all their deposits. The statement went on to add that there was no set minimum for clients depositing crypto. This essentially means that the clients would be able to earn interest on all their GUSD, Ether, and Bitcoin balances.

Zac Prince, who is the CEO and founder of BlockFi mentioned that he was excited to note that there was growth in the platform. The growth had been spurred by crypto investors who were trying to leverage all their wealth management products.

The BlockFi team went on to state that they had arrived at the decision to do away with the minimum deposit requirement after realizing that this would ensure that its BIA product was available to many crypto enthusiasts.

In the past year, the American based crypto lender has been busy planning its expansion plans. This is something that has seen it venture into India, with plans underway to ensure that it also gets into Latin America.

Flori Marquez, the VP of Operations and one of the platforms’ co-founders stated that their expansion plans were meant to ensure that BIA was open to all crypto enthusiasts. The VP went on to state that their roadmap included expanding into Latin America where the residents had limited access to credit reporting and banking services.

Additionally, many of the financial products provided by US companies have in many cases only been provided to individuals with a high net worth, many of whom are located in Costa Rica and Argentina. BlockFi was, therefore, interested in leveraging blockchain to ensure that it gets to provide wealth management products to as many people as it possibly can.

In other news, the blockchain platform recently secured $18.3 million in a Valar Ventures led funding round.

Read Original/a>
Author: Daniel W

Seed CX Has Started Testing Physically-Settled Swap Contracts With Bitcoin

Seed CX, a Bitcoin (BTC) derivatives firm, has recently decided to start the tests with its new margin swap products. According to the company’s press release, the matching platform os swapping products can already be tested by the clients via the Seed SEF platform.

The CEO of Seed CX, Edward Woodford, affirmed that this initial period of testing will be used in order to allow people to get in touch with the offerings and determine what is working or not to deliver a great product later. He affirms that the product will probably be officially launched within the next three months.

From the technological point of view, the company is ready for the launch and only requires the predicted time for testing. The only possible reason for delays can be regulators, which can be considerably more unpredictable.

Brian Liston, the president of the crypto derivatives company, affirmed that all Bitcoin of the new platform will be physically-settled and that the company is pretty excited to have such an interesting offering for investors. According to him, these are the final steps in order to get the product ready and out of the door, but some more beta testing is required first.

Seed CX Will Have Competition

Seed CX may be getting its products ready, but the company is far from being the only one to do it. Several other companies are focusing on the same niche. Blade (which was backed by Coinbase), ErisX and LedgerX are all getting ready to offer similar products.

Most of them are still getting services ready, too, so the ones to take the lead will probably get an edge on the competition.

Read Original/a>
Author: Gabriel Machado

US Federal Reserve To Offer Fast Payments With “FedNow” as Ripple Community Gets Excited

US-Federal-Reserve-To-Offer-Fast-Payments-With-FedNow-as-Ripple-Community-Gets-Excited

The U. S. Federal Reserve has recently affirmed that it would start to create a system that could be used to make faster payments. Despite having the technology to do it for years, the Fed has not been able to move forward for a while.

During the most recent speech of the Fed board member Lael Brainard today, though, he affirmed that the Fed is looking into

“real-time payments”.

The new service is being called FedNow for the moment and it is used for settlements that can be done almost instantly in the future.

Obviously, some people believe that the Fed might use blockchain technology to do it. The technology has been on the spotlight for quite some time now and it is definitely one of the main technologies that can be used for this kind of situation.

Could This Be An Answer To Facebook’s Libra?

During Brainard speech, he talked about companies which are looking to start their own payment systems. He could not be talking about any other company than Facebook, obviously.

As soon as Facebook’s new product is launched, the world will come to expect real-time payments. If banks are not able to provide them, they will lose to the competition. Because of this, he affirmed that banks will need to focus more on innovation in the coming days in order to continue to be relevant in the market.

The announcement was endorsed by the executive director of Financial Innovation Now, a group that includes companies such as Apple, Google, PayPal, Amazon, and Square. Brian Peters affirmed that this is a bold step into the future and that real-time payments will be the foundation of innovation in the U. S.

XRP Community Bets Fed Will Use Ripple Technology

Despite nobody at the Fed affirming that they would use Ripple, the people from the XRP community seem to be pretty sure of that. Some people on social media are affirming that this new system will be based on technology. That is very unlikely, though. Some private banks may use XRP, but it would be really surprising to see the U. S. government using it.

Read Original/a>
Author: Daniel W

South Korean Fashion Platform Sinsang Market to Partner With Terra Stablecoin

South-Korean-Fashion-Platform-Sinsang-Market-to-Partner-With-Terra-Stablecoin

Terra, a Singapore-incorporated stablecoin company, has recently decided to start a partnership with Sinsang Market, a major B2B fashion platform based in South Korea. According to a local site based on financial news, the new partnership will see vendors linked to the fashion market in South Korea.

The two firms will get together to create a payment system that will be used for crypto transactions and to handle the delivery of the products afterward.

According to the reports, the new platform will use CHAI, a South Korean platform that is based on the technology created by Terra.

Representants from the fashion market Sinsang affirmed that Dongdaemun, the region that is the focus of the company, is one of the largest wholesale operations in the continent and that it has a turnover of over $12 billion USD.

However, despite being so big, there are still several issues when it comes to the part that involves logistics and payments. By using the technology provided by Terra, Sinsang Markets intends to connect several small enterprises with the outside market.

Terra is currently looking for more e-commerce companies in order to use its payment platform. Because of this, the companies were the perfect match. Each one had what the other one needed the most. Terra currently has 25 partnerships with several companies in the Asian market. The tech company, which was founded last year by Daniel Shi, is currently based in Singapore.

[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.

Read Original/a>
Author: Tolu

Newegg To Expand Bitcoin (BTC) Payments To More 73 Countries

Newegg To Expand Bitcoin (BTC) Payments To More 73 Countries

Newegg, an online electronics and software company, has recently decided to start out Bitcoin payments for several new countries. Now, 73 new nations are about to receive BTC payment services from the company.

The announcement happened this week and the company, which is based in the U. S., affirmed that its stores will start to receive BTC all over the world. At the moment, the company is present in 80 different countries but only some of them were able to receive this kind of payment so far.

Initially, Bitcoin payments were only accepted in the United States. This dates back to 2014 when Bitcoin was not so popular as it is today. Canada was the second country to receive this kind of payment. However, Canadian payments were halted back in 2017 and will be resumed now.

Unfortunately, not all countries are set to receive the BTC payments. Algeria, Indonesia, Egypt, Ecuador, Vietnam and Morocco will not be able to use the service due to local legislation and similar issues.

Anthony Chow, the company’s president of global sales, affirmed that the company was one of the first major stores to enter the Bitcoin world back in 2014, which is why they always tried to cater to this market. Some customers started to buy goods using this technology as soon as the service was properly started.

Now, the company is committed to expanding a lot more. The decision was made in order to bring innovation to the market and to cater to the needs of the company’s customers.

All payments will be made via a partnership with BitPay, according to Sonny Singh, the Chief Commercial Officer at the Bitcoin payment company. He affirmed that BitPay makes Bitcoin payments as easy as sending an email and the service can be used to open up several new opportunities for customers all over the world.

He also affirmed that, by not charging credit card fees, BitPay allows both sides to spend less money on transactions.

Read Original/a>
Author: Gabriel Machado