Revolut App Adds XRP, Bitcoin Cash to Crypto Options

Mobile banking app Revolut now lets users buy, sell and hold Ripple’s XRP and bitcoin cash. Following the firm’s addition of litecoin and ether trading in December 2017, and bitcoin last July, the firm says in a blog post that “after months of debate and hard work,” users are able to exchange any of 25 supported fiat currencies for its now five crypto offerings from today. In the post, Revolut explained the reason for choosing XRP and BCH in particular, saying they were the “two most popular cryptocurrencies our community wanted.” However,…

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Coinbase Is Rebranding Its Crypto Exchange Service

Coinbase announced Wednesday that it is launching a new version of its GDAX platform called Coinbase Pro and acquiring crypto trading relay platform Paradex. The new platform seeks to “make the trading experience easier and more intuitive,” according to the startup. Other features include a new chart system which provides streamlined access to historical data and a consolidated portfolio view. Beyond simply trading assets, Coinbase Pro aims to provide a host of new features for investors, according to the release, which reads: “Our vision is to give customers the ability…

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Singapore Proposes Regulatory Boost for Decentralized Exchanges

The Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, is proposing changes to existing regulations that would ease market entry for blockchain-based and decentralized exchanges. According to a consultation paper published on Tuesday, MAS states that the current single-tier “recognized market operators” (RMO) regulatory framework is not able to meet demand for new business models based on such emerging technologies. To address the issue, the authority proposes to introduce a three-tier structure in an attempt to ease market access for small-scale exchange platforms. “MAS has observed the emergence…

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Huobi Pro Launches New Crypto Market Index

Cryptocurrency exchange Huobi Pro is launching a new market index for its customers, the company announced Wednesday. The Huobi main force index will track 10 different digital assets traded against tether (USDT), a dollar-pegged cryptocurrency, on its platform in real time, according to a press release. The index will “reflect the overall performance of Huobi Pro market,” allowing investors to see a single aggregated feed rather than having to check on individual assets one at a time. The index will use weighted samples, according to the press release, which explained…

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Former OKEx Chief Joins Rival Cryptocurrency Exchange Huobi

Chris Lee, the former CEO of Hong Kong-based crypto exchange OKEx, has announced he is joining rival platform Huobi as its vice president of global business development. According to an announcement by Singapore-based Huobi on Monday, Lee will head the group’s global mergers and acquisitions strategy and supervise international development as the exchange moves towards global expansion. “I am a big believer in blockchain technology and view exchanges as the heart of the industry,” Lee said in the announcement. The new appointment comes just a week after Lee announced his resignation…

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Tel-Aviv Stock Exchange Turns to Blockchain for New Lending Platform

The Tel Aviv Stock Exchange (TASE) is teaming up with Accenture and The Floor, an Israeli fintech hub, to build a blockchain securities lending (BSL) platform aimed to allow direct lending of all financial instruments. The BSL will act as a “one-stop-shop for all securities lending activities, permitting access to larger securities volumes within shorter time-frames, even operating in shorter-term positions,” a press release states. With the use of distributed ledger technology from blockchain consortium Hyperledger, the platform is designed to reduce costs, increase security and provide more flexible lending…

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NY Grants Fifth-Ever BitLicense to Crypto Exchange Genesis Global Trading

Genesis Global Trading has obtained a BitLicense from the state Department of Financial Services (DFS), making it only the fifth firm in three years to receive the controversial license. The cryptocurrency exchange, based in New York City, and DFS announced the news in separate press releases Thursday. In the regulator’s release, New York financial services superintendent Maria Vullo said, “New York continues to lead the nation in regulating the growing fintech industry.” But the BitLicense has come in for intense criticism from cryptocurrency entrepreneurs. Speaking at CoinDesk’s Consensus 2018 conference Tuesday, ShapeShift…

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Winklevoss Crypto Exchange Wins Approval to Trade Zcash

The Winklevoss twins’ Gemini digital currency exchange has become the first in New York to receive a license to trade the privacy-focused cryptocurrency zcash. Alongside the news, Gemini announced support for trading zcash on Monday. Starting from May 19, Gemini users will be able to start depositing zcash (ZEC) into their accounts, the exchange said in a blog announcement. Trading will commence on May 22. Gemini will be offering three new pairs for trading the cryptocurrency: ZEC/USD, ZEC/BTC and ZEC/ETH. Eric Winer, VP of engineering at Gemini, said in the post: “We…

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Coinbase Rolls Out Crypto Custody Product for Institutions

Cryptocurrency exchange Coinbase announced Tuesday it is formally launching Coinbase Custody, a product aimed at aiding institutional cryptocurrency adoption. First announced last year, Coinbase Custody is a crypto storage service directed specifically at large financial institutions, as previously reported by CoinDesk. At the time, the exchange said users would have to pay a $100,000 set-up fee and keep a minimum of $10 million in deposits. Further, there is a minimum monthly fee based on the assets stored. “We have leveraged our experience safely storing more than $20 billion of cryptocurrency…

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BitGo Courts Wall Street With New Bitcoin Custody Products

Big Wall Street firms now have new options for storing bitcoin. Announced Sunday, Palo Alto-based startup BitGo has unveiled a new suite of custodial services aimed at institutional investors who may be eying the market with interest. The product launch notably builds on BitGo’s move to buy Kingdom Trust, a US qualified custodian of traditional financial assets, in January. But while that acquisition is still awaiting regulatory approval, that isn’t stopping BitGo from bolstering its offerings. BitGo head of product Tracy Olson indicated that the launch – which finds BitGo…

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