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The Monetary Authority of Singapore (MAS) completes a basic regulatory bill for the country's payment services which includes cryptocurrencies.

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Binance enables BNB Mainnet deposits, launches Binance DEX and Singapore fiat bridge

Binance has announced that users can now make Binance Coin (BNB) deposits and withdrawals on Binance Chain. Binance CEO Changpeng Zhao tweeted earlier today about burning 5 million Ethereum-based BNB tokens to commence the era of Binance Chain based BNB tokens. Just burned 5mm ERC20 BNB, commencing swap to the real #BNB. — CZ Binance (@cz_binance) April 23, 2019 Binance has also launched Binance DEX–a decentralized platform to trade cryptocurrencies where users will own the keys of their wallet, unlike Binance.com where keys are held by Binance. Earlier today, Techcrunch also reported about the launch of Binance Singapore, fiat to crypto exchange. Ambitious Binance Continues Expansion Related: There’s a new ‘Coinbase effect’—the Binance Chain pump On the DEX platform, users are responsible for the security of their funds and are required to protect the 24-word security phrase as the key for their private keys. Apart from the Binance wallet, the decentralized exchange will also support a variety of wallets including Trust Wallet, Ledger, and Enjin amongst others. While trading pairs or other tokens are not yet available, users have access to the Binance Chain Explorer, API’s, and web wallet. Speaking about Binance DEX, Zhao said: “We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system.  With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community.” The exchange also launched a new fiat-crypto exchange in Singapore earlier today. Binance Singapore allows users to purchase only bitcoin, and at fixed prices compared to the mainstream Binance which has a wide range of cryptocurrencies available at real-time market prices. Binance Singapore is mostly funded with investment from VC firm Vertex, which is backed by the Singaporean sovereign fund Temasek. A spokesman for Binance has said that the BTC/SGD is just the first pair the exchange will be offering as it hopes to add more pairs as ‘regulations allow.’ Over the past year, Binance has focused its efforts on fiat trading, hoping to find a way to get institutional money into crypto on a significant scale. Thus far, Binance Singapore is the third such effort following similar exchanges in Uganda and Jersey. The company also has plans to open two new fiat ramps in Malta and Lichtenstein before the year ends. The post Binance enables BNB Mainnet deposits, launches Binance DEX and Singapore fiat bridge appeared first on CryptoSlate.
Cryptoslate

Binance’s Fiat-to-Crypto Singapore Crypto Exchange Goes Live

Coinspeaker Binance’s Fiat-to-Crypto Singapore Crypto Exchange Goes LiveIt may seem that Binance has decided to win all the headlines today. Now the company revealed that it has launched its hotly-anticipated Singapore crypto exchange.Let us a little bit clarify the situation. Today the largest crypto exchange in the world Binance has announced that it has managed to complete the migration of its BNB tokens to the Binance chain mainnet and open withdrawals and deposits.Moreover, its decentralized platform known as Binance DEX has also gone live which has happened even earlier than it was planned before. Though we still need to wait for the start of trading, it is already possible to create wallets on the new platform.Binance Service in SingaporeAnd now one more excellent piece of news. The service in Singapore has been launched just six months after Binance got funds for the creation of this platform from Vertex, which is a venture capital firm backed by Singapore-based sovereign fund Temasek. Binance started testing its service in late 2018 and to ensure the full compliance of it the company has been cooperating with MAS, the country’s regulator.Nevertheless, after the analysis of the Singapore service, it is possible to notice that it has more in common with Coinbase than with a traditional Binance exchange.The classic Binance platform provides users with a possibility to work with a range of crypto assets without a necessity to share a lot of personal data or to pass through complicated verification procedures.Nevertheless, Singapore service has some other offers. The range of crypto assets is very limited. There is an option to buy Bitcoin only, and the prices are fixed.Binance has initiated its work on crypto-fiat services which let traders purchase crypto for cash nearly half a year ago. Now the team is planning to expand these services beyond just retail traders and reach institutional money. And Singapore is considered to be an appropriate location to develop crypto-fiat activities.It’s already the third initiative in this very sphere. Binance has already introduced its fiat service in Uganda and Lichenstein where it has registered its Jersey platform targeted at European markets.Partnership with XfersMoreover, there is information that the new Binance service is in cooperation with a crypto startup Xfers that also worked with Coinbase when it expanded its geography to Singapore. But at this very context let us remind that later Coinbase left the country and ended its partnership explaining that Xfers was not an appropriate partner for its growth.Commenting on the launch of its new service and new partnership Binance representative stated:“The issue Coinbase had with Xfers last year was prior to Xfers obtaining their WASVF license, which they acquired recently. We support our partnership with Xfers and will work together to build a key fiat gateway that will grow the industry.”It was also added that Binance Singapore already has full deposit/withdrawal functionality and that all functionality issues (if any) may be user-specific which means that it is better to report them directly to the customer service.Binance’s Fiat-to-Crypto Singapore Crypto Exchange Goes Live
Coinspeaker

Ripple to Double Staff Strength in Singapore

According to a report by Business Times (paywall), Ripple will be doubling its staff strength from 12 to 24 this year. This is against the backdrop of an increased rate adoption by its customers from Asia including the likes of CIMB Bank, InstaReM and MoneyMatch. Eric van Miltenburg, SVP Global Operations attributed the decision to an increase of demand from customers from this region. He also shared that part of the focus of new talent drive to help seek out new customers, partners and ways to to work with the market. A glance at Ripple’s job openings shows that 3 positions are open and 2 of which are recruitment roles. Image Credit: @Flickr via Marco Verch The post Ripple to Double Staff Strength in Singapore appeared first on Fintech Singapore.
Fintech Singapore

Binance Will Arrive in Singapore Before the Month Ends

In September last year, Binance, one of the best known crypto exchanges, expressed intentions to set up fiat-to-crypto trading platforms on almost every continent. True to its intentions, Changpeng Zhao, CEO of Binance, announced at a conference in Seoul that Binance Singapore will come online in April—a fiat to crypto exchange servicing the SGD. However, no further details are provided regarding the launch, like what cryptocurrencies are supported for trading and what breadth of servicing will the SGD gain in the island nation. The revelation was also made in a tweet by Binance. "#Binance Singapore will come online in April. It will be our next Fiat to Crypto exchange servicing $SGD " – @cz_binance #deconomy2019 #Binance — Binance (@binance) April 4, 2019 Singapore’s regulators, like the Monetary Authority of Singapore, has emerged as one of the friendlier countries to operate crypto-related activities by players thanks to its position that transactions between private parties are relatively free from intervention, privileges, tariffs and subsidies, comparatively. Most recently, MAS finalised the country’s regulatory framework for payment services, which now includes cryptocurrency in a bid to bring payment service providers that fall outside of the currenty regulatory framework into the new licensing regime. Could Singapore Also Soon See the Binance Decentralised Exchange? Image Credit: Binance In the same speech, it was also announced that the anticipated Binance chain Mainnet will go live this month as well. The Binance Chain is intended to be the backbone of the Binance Decentralised Exchange (DEX), and the native network for the Binance Coin (BNB), the exchange’s high profile ICO. Binance has made claims that the Binance Chain will have one-second block times, speed which would allow the platform to handle similar trading volume as the original non-decentralised Binance exchange. A decentralised exchange (DEX) refers to a peer-to-peer (P2P) exchange market that does not rely on third-party services to hold a customer’s funds. The P2P process is usually automatic, and such a system can be established by a few methods: proxy tokens representing certain fiat or cryptocurrency, more traditional assets, or a decentralised multi-signature escrow system. As for Binance DEX, their goal is to figure out how to replicate their regular Binance platform into the decentralised realm. Hence, the Binance Chain should be able to handle very large loads, even if it is simple in terms of application. The initial launch is to prove that the infrastructure is sound enough to handle many transactions at once, with concern for additional features secondary to the company, it seems. While both announcements were made in the same speech, it will remain to be seen if Singapore will be one of the beneficiaries of this development. Featured image via Binance The post Binance Will Arrive in Singapore Before the Month Ends appeared first on Fintech Singapore.
Fintech Singapore

Binance Unveils Fiat-to-Crypto Bitcoin Exchange in Singapore

Binance, a leading cryptocurrency exchange with more than $890 million in 24-hour trading volume, has announced the impending launch of its crypto-to-fiat exchange platform in Singapore, reports FXStreet on April 18, 2019. Binance Singapore Set to Go Live Per sources close to the matter, Binance exchange has revealed plans to launch a crypto-to-fiat cryptocurrency tradingRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Binance’s New Fiat-to-Bitcoin Exchange Set to Launch in Singapore Next Week

Towards the beginning of the month, CEO Changpeng Zhao of Binance spoke on the new fiat on-ramp that his company was planning for Singapore. However, it looks like the public has a more specific timeline now, as Binance CFO Wei Zhou said that the new opportunity in Singapore will soon be available next week in […]
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Meh: Yet No Hidden Reason For Fluctuations Here

Turkish stock exchange applies blockchain, Belgium offers ICO regulation, new deadline for Visa crypto cards issue, Greek's big plans for BTC-ATMs, an opinion of representative from the Royal Bank of Canada on Goldman Sachs's policy, and Kraken's assurances on its stability

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DIGEST

All in this week’s News Digest: McAfee still has a lot of faith in crypto, Robert Shiller explains the roots of this faith, more new exchanges are coming, an investigation into Bitcoin price manipulation, and Verge is hacked again.

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BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
Ethereum World News

USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets

April 23rd, 2019, Frankfurt, Germany – USDX Wallet is a mobile-first instant transfers solution powered by blockchain technology. It targets crypto holders, allowing individuals to send and receive funds quickly and fee-free. It also covers the needs of an unbanked audience, and those who don’t want to pay commissions within traditional money transfer mobile apps. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on the BitShares protocol and allows 100,000 transactions per second. USDX and LHT Tokenomics The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT. The total supply of LHT is 1 billion coins. LHT coins will be released gradually to the market; only 10% of the LHT supply will be issued each year, of which 5% will be freely tradeable and 5% will be locked on the blockchain to provide 200% collateralization. Recent Developments USDX Wallet has not held any private sales or presales, as it has received a sufficiently large venture investment. Future profits of the project will come from business account fees. From December 2018 to January 2019, there was an airdrop that attracted tens of thousands of participants. At the moment, USDX Wallet has surpassed 50,000 verified accounts. For the last several months the team behind the app have been implementing integration with crypto exchanges. The first platform to list LHT will be ExMarkets exchange, with two more exchanges to come. On Exmarkets, LHT will be available in trading pairs with Bitcoin (LHT/BTC) and Ethereum (LHT/ETH). About Exmarkets ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad. Recently, ExMarkets was granted two operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of the few certified players in the market. Also, ExMarkets supports EUR (SEPA transfers) deposits to the cryptocurrency exchange and is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity. It takes only a few minutes to set up an account; users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, and tokens. ________________________________ For more information on USDX Wallet, visit https://usdx.cash. The free USDX Wallet app is available on Google Play and the App Store. Follow USDX Wallet on Medium, Twitter, Facebook and Telegram. ExMarkets platform https://www.exmarkets.com/. Media Contact Details Contact Name: Maria Lobanova Contact Email: mlobanova@usdx.cash Partnership Request Details Contact Email: partners@usdx.cash USDX Wallet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all. Disclosure: This is a sponsored press release. The post USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets appeared first on NullTX.
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