Wirex news

Mobile, Desktop. A provider of cryptocurrency wallets linked to physical and virtual Visa debit cards, as well as cryptocurrency and traditional currency exchange and payment solutions. Established in 2014, UK. Fiat - yes.

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Wirex Has Got Pre-Approval For Crypto Assets Operations in Japan

Cryptocurrency platform Wirex Japan Limited officially became a member of type II of the Japan Virtual Currency Exchanges Association (JVCEA). This is the penultimate step to the ability to provide ... Запись Wirex Has Got Pre-Approval For Crypto Assets Operations in Japan впервые появилась Bit.news.
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Wirex One Step Closer to Obtaining Crypto Asset Exchange Service Provider Licence in Japan

TOKYO, Aug. 15, 2019 /PRNewswire/ -- Today, Wirex Japan Limited officially became a type II member of the Japan Virtual Currency Exchange Association (JVCEA) - a vital and hard-earned step towards being able to offer the full range of Wirex services to customers in Japan. Wirex Japan Limited is a 100% subsidiary of payments innovator Wirex Limited. Today, it became only the 8th financial services company to become a type II member of the JVCEA - a notable achievement in itself and an integral stage in the journey to recognised Crypto Asset Exchange Service Provider status. Amid a largely listless response by international authorities, Japan's Financial Services Agency (FSA) and the JVCEA lead the way in cryptocurrency regulation. The world's third largest economy[1] is one the few developed nations that recognises the enormous potential of decentralised digital currency and has legislated it accordingly. Cryptocurrency in Japan is no ...Full story available on Benzinga.com
Benzinga

Wirex Could Put Nano On Your Visa Card

One of the fastest cryptocurrencies is getting even easier to use. Pavel Matveev, CEO of Wirex, recently discussed the growth of the FCA-licensed company’s multi-currency payments and mobile banking solution, which allows users to spend fiat and crypto with equal ease. At a recent Nano U.K. Meetup, Matveev also discussed the company’s plans to launch a Visa debit card accompanying its app as it expands into the U.S., Canada, and Asia this year. Having fully integrated support for both legacy and digital currencies, the Fintech startup is already enjoying significant growth among U.K. users. Nano A Top Coin on Wirex Softbank-backed Wirex counts Nano – the crypto formerly known as RaiBlocks (XRB) – as one of its most prominent spending options, alongside Bitcoin and ether. Nano is currently trading for around $1, per Coinmarketcap, substantially shy of its all-time highs around $34 during the heated alt run of January 2018. As the 47th ranked coin by market cap, Nano seems a somewhat inspired choice for the startup to support in its wallet of under a dozen cryptos. The company explains their pro-Nano stance, describing the zero-fee currency as: “… a next-generation cryptocurrency with great potential… [that] aims to create opportunities for individuals and communities to interact with the global economy on a more even playing field, by offering features unmatched by legacy blockchains… [with] incredibly fast transfers and huge scalability that can be achieved with very little energy expenditure.”Wirex Blog Often cited as one of the best virtual currencies for micropayments, Nano uses a block lattice architecture, combining the scalability benefits of directed acyclic graph (DAG) infrastructure with the security that blockchain provides. Wirex Succeeding Where Others Have Struggled Mobile banking apps appear to be a good fit for the new digital economy and the digital currency arena. However, they’ve proven more difficult to bring to fruition. Mobile crypto wallets are plentiful in number, but their use in retail remains limited. Circle is sunsetting the Circle Pay app to focus on stablecoins, and other crypto companies are not making it easy to exit the traditional banking system. Wirex, however, has struck a unique balance between the old and the new. When their full suite of products launches, they will have integrated with the legacy Visa payment network at the front end, and be able to offer customers competitive rates on crypto and fiat currencies through their relationships with ten exchanges and three OTC desks at the backend. They currently have over 2.5 million customers, all in Europe, and had 5,000 corporate accounts onboarding within a week of their business account launch a few months ago. They offer in-app exchange between currency pairs and P2P services of 20 fiat and over eight digital currencies. A Combination of Backing, Hard Work, and Special Features Being backed by Softbank certainly helps, although Matveev attributes at least some of the company’s success to its Cryptoback product. Cryptoback pays users 0.5 percent of purchase amounts back to them in crypto. Matveev seems to think that has allowed the app to tap into latent crypto demand. According to the CEO:    “What we see is a lot of people who are not familiar with cryptocurrency actually using our card… A lot of people who [are] afraid of cryptocurrency, not familiar with it at all, they use our cards because they can get cryptocurrency without buying cryptocurrency, using our card.”- Wirex CEO Pavel Matveev, Nano UK Meetup     The CEO did add that his company builds “products, not promises” and that it is important to gain regulatory approval in any jurisdiction they operate. Lacking a relevant license has halted the company’s progress in Japan, for example. Wirex is now undergoing the incorporation of a subsidiary in that country. Nimble companies using nimble cryptocurrencies are going to pave the way for crypto to cross into main street, but if Wirex is one example to judge by, meshing with legacy systems – either at the backend or the point-of-sale – will continue to be a useful compromise.     The post Wirex Could Put Nano On Your Visa Card appeared first on Crypto Briefing.
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Wirex Steps Closer To Launching Japanese Crypto Exchange

Japan’s industry association for cryptocurrencies has approved a license application from Wirex, making it one of the few virtual payments platforms to receive preliminary authorization to operate in the country. The Japan Virtual Currency Exchange Association (JVCEA) today welcomed Wirex Japan as type II member. While membership does not confer any additional business privileges, it is the first step towards receiving a full exchange license. “It takes ages to complete this stage only, and some companies who have this stage have even been bought by other companies just because of the stage,” a Wirex spokesperson told Crypto Briefing. Wirex Japan is a wholly-owned subsidiary of Wirex, which is also registered with the UK’s Financial Conduct Authority (FCA). In February, the company beta-launched the world’s first-ever fully-regulated crypto business accounts and a string of new stablecoins on the Stellar (XLM) network in April. Wirex Japan is now listed on the JVCEA website as an official member. The next step is to register with the country’s Financial Services Agency (FSA) to become a recognized Crypto Asset Exchange Provider, which will allow the company to operate a full trading platform. Becoming a fully registered exchange in Japan is not easy. Applicants have to undergo rigorous compliance evaluation of KYC, AML and security, which can take up to twenty-four months. Although the FSA has received more than 150 applications, it has only approved nineteen so far. Sixteen were approved in 2017, including Huobi Japan and SBI Holdings’ own exchange service. But the number of successful registrants has dropped dramatically. None were successful in 2018, and only three have been approved this year, including CoinCheck – subject to the largest exchange hack in history. Even some of the largest exchanges have been defeated by the Japanese regulators. Binance was forced to move its operations out of the country last March after the FSA publicly warned it against operating without a license. “Japan is very rigorous and diligent in its processes before it allows a crypto company to operate in their country,” explained Matin Lamming, Wirex CMO. “There will be some differences in the full extension of the product and services in Japan due to regulation.” One of these restrictions may limit the number of available cryptocurrencies. Wirex declined to comment any further on what digital assets may not be available to Japanese users. In May this year, Japan passed new legislation which tightened regulation and introduced additional restrictions on crypto derivatives and leverage options. The Government also offered to take the lead on effective crypto regulation at the G20 – an association of twenty of the world’s largest economies. The FSA can rescind licenses at any time and order exchanges to change or improve their behavior. License holders also have to comply with the new FATF standards, which came into force at the end of June and require cryptocurrency businesses to share data about their customers.   The post Wirex Steps Closer To Launching Japanese Crypto Exchange appeared first on Crypto Briefing.
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XRP community calls out Wirex CEO’s ‘XRP is a security’ comment

XRP is not a security. And as Garlinghouse explained, “XRP is not a security for three reasons: if Ripple, the company, shuts down tomorrow, the XRP ledger will continue to operate; it’s an open-source, decentralized technology”. The third-largest cryptocurrency’s categorization has always been a bone of contention. In what could be termed as a breath […] The post XRP community calls out Wirex CEO’s ‘XRP is a security’ comment appeared first on AMBCrypto.
AMBCrypto

Morgan Stanley: Most Bitcoins Are Bought With Tether

Tether (USDT) is now the most popular asset for buying Bitcoin (BTC), suggesting that the latest rally is fueled by existing rather than new cryptocurrency investors. In a report published today,  U.S. investment bank Morgan Stanley noted a significant increase in the number of Bitcoin trades against Tether. This increase coincided with a proportionate decrease in the number of BTC trades against popular fiat currencies, such as the Chinese renminbi (CNY) or US dollar. As indicated in the graph below, USDT began to gain volume near the beginning of the 2017 ICO boom. At the time the U.S. dollar had been the most popular trading asset, following a steep decline in CNY transactions earlier that year. Although bullish regulatory news from Japan has led to a surge in popularity for yen (JPY) transactions since 2017, Tether made the largest gains in BTC volume. After reaching a high point of about 80% earlier this year, USDT dominance has since fallen to about 60%.   Source: CryptoCompare, Morgan Stanley Research   Stablecoins provide a fiat-pegged store of value, without exposing investors to the volatility of the rest of the crypto markets. As the legal waters surrounding Tether and Bitfinex became murkier, new issuers have come onto the scene offering different collateralized assets over the past year. Gemini (GUSD), Circle (USDC) and Paxos Standard (PAX) were all released in late 2018.  eToro and Wirex released a flood of new new stablecoins earlier this year, and TrustToken (TUSD) has launched tokens backed by the Euro and British Pound.  There’s even a stablecoin based on other stablecoins. But despite increasing competition and recurring concerns over its reserves, Tether – which accidentally minted $5bn USDT last weekend – remains popular among investors. A report published earlier this year showed that none of the other collateralized stablecoins managed to capture much of Tether’s market share during last winter’s decline. Morgan Stanley’s analysts suggested that the surge in Tether’s popularity came from the relative ease of transactions as well as the minimal costs. Investors can easily trade Tether for other cryptocurrencies, faster and cheaper than they could through a different asset class. Another advantage comes from Tether’s universal presence in the exchange world, where USDT is traded in nearly every marketplace. Tether has more than 400 trading pairs, according to CoinMarketCap; the runner-up, TrueUSD, has only 165. Overall more than two-thirds of all reported Bitcoin trades in the past month were made through other cryptocurrencies, up from just over a half during Q4 2018. Since Bitcoin is the most common cryptocurrency for first-time investors, the latest rally is most likely fueled by traders who are already invested, rather than new investors entering the space.   Source: CryptoCompare, Morgan Stanley Research   In its “Bitcoin Decrypted” report published on November 1st, Morgan Stanley predicted an increase in Bitcoin transactions against Tether. At the time, analysts suggested this was because most exchanges lacked fiat trading pairs, and those that did charged high transaction fees.  USDT was not only more accessible, analysts said, it was also the cheaper option. It also suggests that large investors remain mostly untroubled by the legal issues surrounding Tether. But there is another possible explanation: many Tether skeptics believe unbacked USDT helped raise Bitcoin prices, which would account for the increase in USDT-BTC trades. Today’s Morgan Stanley report also provides a breakdown on Facebook’s Libra coin as well as the digital asset market in general. In that report, analysts suggested that IEOs are actually retracements to a more centralized issuance model and that close correlations exist between last year’s Bitcoin rally and the Nasdaq composite during the dotcom boom. Another key finding highlighted that institutional involvement is increasing, while retail investments have stagnated. If the banks’ analysts are correct, this could be the beginning of more institutional adoption for virtual assets. The post Morgan Stanley: Most Bitcoins Are Bought With Tether appeared first on Crypto Briefing.
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Bitcoin Struggles As BAT And ETC Lead The Charge

The cryptocurrency market has somewhat stabilized, presenting a predominantly green landscape as Bitcoin struggles to stay above the psychological $10,000 marker.   Cryptocurrency Market Situation. Source: Coin360   Sentiment for Bitcoin has seen a moderate improvement towards a strongly neutral outlook.   Bitcoin Sentiment Chart by theTIE.io   Despite this overall lukewarm performance, proponents of Bitcoin’s store of value potential have reason to rejoice today. According to a report by Digital Asset Data, BTC is increasingly gaining correlation with the broader asset markets – positively with gold, and negatively with the stock market. With a recession looming on the global economy, Bitcoin could fulfill the role of a “safe haven asset,” to which investors flock during uncertain economic times. Altcoins see recovery with ETC and BAT leading The rest of the cryptocurrency market is seeing strong corrections from yesterday’s fall, with two strong outliers making significant gains. Basic Attention Token is strongly reacting to its new listing on Kraken, a popular exchange part of Weiss Ratings’ Real 10 index of platforms reporting true volume. BAT has gained more than 15% on yesterday’s price, while curiously its partner-in-listing WAVES has registered a much more modest 4%. The stark difference can be explained by the contribution of other fundamental drivers, with BAT recently launching the much-anticipated online tipping feature in its browser.   BAT Recent Price Trend. Source: CoinMarketCap   The other outlier is none other than Ethereum Classic, which after an against-the-grain rally on Tuesday has continued today with a 14.6% gain. The total 7-day performance is a solid +21%, by far the highest in the top-50. As before, it’s difficult to give a meaningful explanation of the rally. The upcoming ETC Atlantis hard fork is scheduled in about 22 days, too far ahead to justify any price action, though the final confirmation was released on Monday. The run is likely to be due to a combination of factors, including possible whales entering ETC positions. The rest of the altcoin market is seeing moderate recoveries, with IOTA, TRON and Cardano gaining 8%, 6.32% and 6.42% respectively as the rest average on 3-4%.   The post Bitcoin Struggles As BAT And ETC Lead The Charge appeared first on Crypto Briefing.
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Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network Health

Coinspeaker Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network HealthA famous crypto startup firm recognized as Casa that offers primary management service, and Bitcoin node machine has launched a node monitor as well as accompanying reward program to develop Bitcoin network health.The firm revealed the latest innovation in an official website article on Aug. 21. Per the announcement, the node monitor known as Node Heartbeats depends on creating a brief relationship between the server of Casa plus, an internet synced and Tor-activated node owned by a user. The rewards program enables Casa node subscribers to earn 10,000 SatsBack weekly in exchange for operating 5 Node Heartbeat checks weekly, on separate days.SetBack can reportedly be converted for Bitcoin (BTC) just once per day on Keymaster app for Casa, as long as a consumer has garnered a minimum of 50,000 SatBack points. According to the report, Casa is firmly convinced that it`s hectic for consumers to keep up with the trend on their node`s uptime as well as security. By offering an inducement program to leapfrog node health, the firm reportedly expects to enhance the overall health of the Bitcoin network.How the Node Heartbeat OperatesTo verify that node is online, the company makes a concise link from their server to the users Casa Node. For this to be manageable, the user`s node must be synced, online, and with Tor activated. But with Tor, that indicates the node Heartbeat secures user`s privacy.Speaking of privacy, the Node Heartbeat only utilises the connection code of the consumer-the same code that is already existing in explorers and that which the consumer release to others who are willing to launch a channel with them. Sats App automatically submits the code for the users when they send a Heatbeat to saves them from the agony of looking it up.Guess Who Is The Latest Casa Investor?Charlie Lee, Litecoin (LTC) founder revealed just three days ago that he has heavily invested in Casa. He went ahead to praise Casa for spearheading BTC acceptance, indicating:“I have the same feeling about Casa today as I had about Coinbase when I joined in 2013 as the 3rd hire. Casa is making Bitcoin easy to use, and that is extremely important for this space. Looking forward to great things!”New Node Monitor by Lightning LabsAs initially reported by Cointelegraph that the designer of the high-speed transaction protocol Lightning Network, Lightning Labs recently unveiled an alpha version of a node monitor. The invented device, called Indmon, allegedly enables nodes operators to supervise node functions in real-time. Network cases this year reportedly influenced the developers to design a tool for preemptively detecting network and node issues.Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network Health
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Gemini Exchange Launches In Australia in Effort to Expand its ‘Crypto Needs Rules’ Brand

One of the most prominent exchanges, Gemini which is owned by Winklevoss Twins is now available for Australian crypto users. “Cryptocurrency is the future of money, and we're committed to building a bridge to that future in Australia.” – @tylerwinklevoss We are thrilled to announce that starting today, we are operational in Australia 🇦🇺 Read […]
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