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

R3 Is Ready To Support A Brazilian Stock Exchange Banco Maré Focused on Startups via BVM12 Platform

R3 Is Ready To Support A Brazilian Stock Exchange Banco Maré Focused on Startups via BVM12 Platform

The prominent blockchain consortium R3 has decided to start a partnership with Banco Maré, a Brazilian fintech startup, in order to launch a stock exchange in the country which will be focused on investing in tech startups.

Banco Maré is a digital bank powered by the blockchain technology that has a heavy focus on financial inclusion and is now planning the creation of the tokenized stock exchange in the country.

The platform is being called BVM12 at the moment and its main goal is to act as another way that startups will be able to use in order to get funds. On one hand, they get the investment that they need in order to take their businesses forward, on the other hand, the investors can get high returns on investment for using their money to support these companies in their early stages.

The bank, which is set in Rio de Janeiro, has already consulted with the Brazilian Securities and Exchange Commission and it is looking to request permission to conduct this project officially in the next month.

Alexander Albuquerque, the CEO of Banco Maré, has affirmed that this new company can be very important in order to “democratize risky investment” in the country. He also affirmed that this could help the low-income public to be a part of the stock market.

Obviously, this also means that people with not a lot of financial stability would be betting in very risky businesses, which could have a very negative impact on their lives and on financial stability overall, as this would be a very speculative market.

In related news, it seems that Brazil is finally waking up to the potential of blockchain technology. For instance, the government is currently considering a bill that would require local administrators to use new techs such as the blockchain. The state of Bahia, for instance, has launched a blockchain that will be used to track public bidding on contracts.

The blockchain is getting so popular that even the Rio Branco Institute, one of the most traditional diplomacy institutes in the country, is now requiring diplomat candidates to learn about the blockchain technology.

Read Original/a>
Author: Gabriel Machado

Dubai’s DCCI to Joint Venture with Singapore’s Perlin and ICC for Creating Blockchain Trading Tools

Blockchain-Dubai-Chamber-of-Commerce-Signs-MoU-with-Singaporean-Start-Up

Blockchain: Dubai Chamber Of Commerce Signs MoU With Singaporean Start Up

The Dubai Chamber of Commerce and Industry on July 1 announced its decision to sign a memorandum of understanding with a Singapore-based start-up Perlin and the international chamber of commerce.

The news of the latest collaboration involving the chamber was contained in a press release.

The joint initiative by the firms will tend to promote the adoption of blockchain trade solutions.

Effective Partnership

The DCCI is the main financial hub of the country, and its saddled with the responsibility of making sure the country moves along with the world trend and create a visible and robust business environment. The chamber made history as the first chamber of commerce in the world to offer blockchain tools developed by the ICC, as well as the Centre for Future Trade (CoFT), a massive project that was agreed upon in May 2019.

The agreement involves DCCI acquiring the exclusive right to offer CoFT blockchain trade solutions in Africa and also the Middle East region. The monumental agreement will tend to improve trade processes by providing greater transparency of supply chains, as well as also reducing the risk that’s normally encountered in the trade process.

Aided Support

Consequently, the new deal will also see the trade solutions giving its massive support to DCCI’s recently launched Digital Silk Road platform, which aims to apply blockchain technology to end major inadequacies mostly faced in the trading system.

The Digital Silk project was co-established by the DCCI and the Dubai Future foundation, and stands tall as an integral part of the Dubai 10x municipal development plan.

The ICC is a conglomerate of businesses, that has in its folds over 45 million businesses, some which includes global brands like Paypal and Amazon. Earlier in the month, Singapore’s Perlin revealed that it will help ICC roll out its blockchain powered technology.

Dubai is gradually incorporating blockchain into its tourist activities. A move that indicates that the country is not sitting on its hordes and relishing its past achievements.

The collaboration between the ICC and DCCI will not come to many as a surprise, this is because ICC is always looking for progressive, motivated and highly energized platform to collaborate and work with, which is the major reason why it is arguably the largest group in the world.

Bitcoinexchangeguide.com reported in May that the chamber was working to implement blockchain technology.

The chamber’s decision to tilt towards blockchain is an innovative move, as it will also allow its members like Coca-Cola, Amazon, FedEx and others tap into the revolutionary technology.

This will ultimately solve the issue of transparency that is mostly faced by big companies, and also instill the trust of their stakeholders and consumers, once again.

Although, the blockchain technology is still in its early years, if it can be adopted by a big organization like ICC, that has members that control the world’s economy, it is only a matter of time before the technology becomes the mainstay and adopted by not only firms, but governments and institutions, all over the world.

Read Original/a>
Author: Ogwu Emma

Coinbase Customers Can Start Earning DAI While Learning About the Stablecoin

Coinbase-Customers-Can-Start-Earning-DAI-While-Learning-About-it

Coinbase Customers Can Start Earning DAI While Learning About It

  • Coinbase adds DAI support to Coinbase Earn
  • Users will need to have a verified account with information such as financial data or working place

Coinbase customers around the world are now able to earn DAI by watching lessons and completing different quizzes about DAI, its features and the ecosystem. DAI is the first stablecoin that is available for users to discover through Coinbase Earn, the platform’s page created to spread the word about virtual currencies.

Coinbase Launches DAI On Coinbase Earn

Selected users will now be able to earn DAI by watching lessons and completing quizzes related to the stablecoin. DAI is a decentralized stablecoin that runs on top of Ethereum and it was designed in order to maintain its stable price of $1. Instead of being backed by a company’s reserve, the price of the digital asset remains stable using Ethereum (ETH) as collateral on the Maker (MKR) platform.

MKR tokens provide governance and DAI works as a collateral-backed stablecoin. The community has been voting on whether to increase or reduce the stability fee that the network has for loans that users take in order to help the virtual currency be close to its peg of $1.

The digital currency has been growing in the market and reaching a larger number of users around the world. Although this year the community had to increase the stability fee to maintain the peg with the U.S. dollar, there are many users very excited about the future potential of DAI on the DeFi market.

Coinbase expects earning to become an increasingly important function in the cryptocurrency ecosystem alongside buying, staking, voting and mining.

The cryptocurrency platform plans to pay out over $100 million worth of cryptocurrencies through its Earn initiative. Individuals will be able to receive up to $6 DAI, $2 for each of the lessons they approve.

Not everyone is eligible to participate in Coinbase Earn. The account should be verified and users should provide more than the basic information requested at other firms. Coinbase asks for data such as the company in which users’ work or fiscal information.

[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: Carl T