SIX Stock Exchange Set to Introduce a Swiss Franc-Pegged Stablecoin

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SIX Stock Exchange Set to Introduce a Swiss Franc-Pegged Stablecoin
SIX is going to create its own Swiss franc-pegged stablecoin that will help to facilitate transactions on the SIX Digital Exchange (SDX).
SIX Stock Exchange Set to Introduce a Swiss Franc-Pegged Stablecoin

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Source: CoinSpeaker

Winklevoss Twins Make Amazon Subsidiary and Other Major Retailers Accept Bitcoin

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Winklevoss Twins Make Amazon Subsidiary and Other Major Retailers Accept Bitcoin
Through the partnership of a payments startup Flexa and Winklevoss’ Gemini, customers of Amazon’s Whole Foods, Starbucks, Baskin Robbins, and other major retailers can use Bitcoin, Ethereum, Bitcoin Cash, and Gemini Dollar for payments.
Winklevoss Twins Make Amazon Subsidiary and Other Major Retailers Accept Bitcoin

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Source: CoinSpeaker

Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market

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Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market
Reserve CEO, Nevin Freeman says that stablecoin projects indulge into dubious activities trapping investors funds to artificially inflate demand and thus the market cap of the stablecoins.
Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market

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Source: CoinSpeaker

Bakkt’s Parent Intercontinental Exchange Lists 58 New Crypto Tokens to Its Data Feed

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Bakkt’s Parent Intercontinental Exchange Lists 58 New Crypto Tokens to Its Data Feed
The ICE’s Data Services will provide real-time and historical data for all the newly added crypto tokens.
Bakkt’s Parent Intercontinental Exchange Lists 58 New Crypto Tokens to Its Data Feed

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Source: CoinSpeaker

New ERC-20 Stablecoin Generates up to 45% Profit to Crypto Investors

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New ERC-20 Stablecoin Generates up to 45% Profit to Crypto Investors
Allowing investors to get a 45% bonus during the additional sales stage, USDDex aims to attract the crypto community to active participation in the project. 
New ERC-20 Stablecoin Generates up to 45% Profit to Crypto Investors

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Source: CoinSpeaker

PlasmaChain integrates with six stablecoins including USD Coin, TrueUSD, and Gemini Dollar

James Martin Duffy, the co-founder of Loom Network, announced PlasmaChain integration for the top 100 ERC20 tokens via an official Medium blog post. The integration includes leading stablecoins in the market such as USD Coin [USDC] and Maker Dai [DAI]. The integration allows for “Lightning-Fast layer 2 Stablecoins payments with multi-currency support”. This news comes days after it was announced that BNB was added to Loom PlasmaChain as a payment method.
The announcement read,
“Since BNB is an ERC20 token, adding support for one token on PlasmaChain meant we were easily able to abstract the logic and apply it to any ERC20 token […] As of now, we’ve officially added support for the top 100 ERC20 tokens by market cap on PlasmaChain.”
PlasmaChain is one of the three sidechains of the Loom Network, the others being GameChain and SocialChain. This DPoS sidechain is noted to be a revamp of ZombieChain, and is also one of Loom’s most significant sidechains. This sidechain is going to be the main point of transaction for tokens that are linked to Ethereum through Plasma Cash.
Plasma Cash is a scaling solution proposed by Vitalik Buterin, the co-founder of Ethereum, and Joseph Poon, the co-creator of Lightning Network. It is a built-in decentralized exchange that is going to “act as a bridge to Ethereum mainchain and other sidechains”. This not only ensures faster transactions, but also cheaper transactions.
Another prominent feature of PlasmaChain is that it would act as a main chain, in order to connect Plasma Cash to Layer 3 chains. It enables fee payment in ETH and Loom Token. In the future, it would also pave path for Bitcoin [BTC] payments. Crucially, since the chain was connected to the mainnet, it enables ETH, ERC20 and ERC71 token transactions.
The blog post stated,
“It enables zero-fee and near-instant transfers of tokens, while allowing users to easily transfer their tokens to and from Ethereum mainnet at any time […] But since PlasmaChain offers much shorter time-to-finality (typically 1–3 seconds), it allows for an online payments experience using crypto that is comparable to using a credit card.”
Among the top 100 ERC20 tokens integrated to PlasmaChain, six are stablecoins. This includes USD Coin [USDC], TrueUSD [TUSD], Maker Dai [DAI], Paxos Standard Token [PAX], Gemini Dollar [GUSD], and EURS.
The co-founder said,
“Layer 2: Enabling Lightning-Fast Stablecoin Payments with Near-Instant Settlement
Stablecoins by themselves are great. But integrating them into a Layer 2 like PlasmaChain is like putting stablecoins on steroids — bringing them even closer to a potentially disruptive form of online payments.”
The post PlasmaChain integrates with six stablecoins including USD Coin, TrueUSD, and Gemini Dollar appeared first on AMBCrypto.
Source: AMB Crypto

Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review

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Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review

Successfully passing the examination, Gemini confirmed its status of a company with a high level of security compliance in protecting customer data and funds.

Gemini Certifies High Level of Security Compliance Successfully Passing Deloitte’s Review

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Source: CoinSpeaker

OKEx Exchange Starts With No-Expiry Bitcoin Derivative Product

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OKEx Exchange Starts With No-Expiry Bitcoin Derivative Product

The second-largest cryptocurrency exchange, OKEx has created a Bitcoin derivative product called “perpetual swap”. However, there’s no expiry date. The lack of expiry data allows positions to be held on an ongoing basis.

OKEx Exchange Starts With No-Expiry Bitcoin Derivative Product

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Source: CoinSpeaker

Crypto Market Recovers with Tether and EOS Leading the Way

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Crypto Market Recovers with Tether and EOS Leading the Way

Finally, crypto market starts showing at least some signs of recovery: Tether (USDT) manages to enter the top-five cryptos by market cap (for the short period of time though) while EOS gains considerable 25%.

Crypto Market Recovers with Tether and EOS Leading the Way

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Source: CoinSpeaker

A flurry of Stablecoins find listing of COBINHOOD

The demand for stablecoins doesn’t seem to be ending as nearly all exchanges are adding them to take advantage of the stablecoin craze among its users.  The recent addition to the list of exchanges is Cobinhood which has added four stablecoins to its platform.
GUSD, DAI, PAX and TUSD now available on Cobinhood
Cobinhood, a cryptocurrency service platform, and exchange, in order to satiate the growing demand of stablecoins among the users announced that it is adding four (4) stable coins on its exchange: the Gemini Dollar (GUSD), MakerDao (DAI), Paxos Standard Token (PAX) and TrueUSD (TUSD). THe exchange believes that each of these stablecoins has a unique set of features that achieve same end result: increased market stability and user flexibility.
On this latest addition, the Co-Founder of Cobinhood, Wei-Ning Huang, was quoted saying    
“The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible. Our mission is to make the space more approachable for anyone who wants to participate.”
Stablecoins have been the recent trend among the crypto enthusiasts apart from providing stability they also seem to be a bridge between the traditional financial world and the cryptoshpere.
Over past month or so a lot of exchanges have added stablecoins. Last month Huobi also had announced it would list four U.S. dollar-pegged cryptocurrencies this week. In the announcement then, the Singapore-based exchange which currently has the fourth-largest by trading volume had said that it would open deposits and withdrawal for TrustToken’s TUSD, Circle’s USDC, and two regulator-approved stablecoins: the Gemini exchange’s GUSD and Paxos’ PAX, on Oct. 19.
Another exchange, Liquid, which known to be a trading platform that bridges fiat and crypto, this week had added a couple of stablecoins. The exchange had announced that it has added multiple stablecoins including Gemini Dollar (GUSD) and Circle’s USDC.
In early November Circle, in its official blog post, had said that not less than 12 exchanges  have expressed their plans of joining the ecosystem for the incorporation of the USD coin. Some of the exchanges that were named in the blogpost were The exchanges are BitMart, Fcoin, Gatecoin, Hanbitco, Hotbit, SWIFT, OCP Capital, DDEX and Bit-Z. Others that had shown interest for USDC also included Nexo a crypto loans provider and crypto wallets providers BitKan and Tokenary
Looking at the recent listings of Stablecoins one can definitely say their demand is at the peak now and if the inference of them being a bridge between the crypto world and traditional financial world is true, we can be sure that this money would soon be converted to cryptos.
What is your view on this Stablecoin frenzy. Is it a fad or are these coins here to stay? Do let us know your views on the same.
 
The post A flurry of Stablecoins find listing of COBINHOOD appeared first on Coingape.
Source: CoinGape

Is Coinbase Trying to Disrupt Bitcoin’s Reserve Asset Status by Listing New USDC Pairs

In recent weeks two new cryptocurrencies have been listed on Coinbase, 0x and BAT. Both resulted in predictable pump and dumps immediately before and a few hours after the announcements. This is no surprise, but the fact that one of these two new listings is only available to trade in USDC could raise a few eyebrows.
Stablecoins to disrupt Bitcoin’s dominance
USD Coin, or USDC, is a dollar-pegged ERC20 stablecoin from Circle and Coinbase. It has been designed to rival Tether which has been embroiled in its fair share of controversy recently. According to the blurb on the website “CENTRE stablecoins are issued by regulated and licensed financial institutions that maintain full reserves of the equivalent fiat currency. Issuers are required to regularly report USD reserve holdings, and that information will be made available upon request.”
According to Coinmarketcap USDC volume is currently $2.2 million with a market cap of $134 million, so still a long way off USDT. Coinbase Pro is now using USDC to facilitate trading on its exchange for US customers. Those in Europe and the UK on regular Coinbase will have Euros and GBP respectively. The notable thing now is that the latest newly listed cryptocurrency is ONLY available in USDC and not Bitcoin or fiat as has traditionally been the case.
BAT was listed on Coinbase Pro over the weekend and the token predictably pumped 23% following the announcement. It is however only available in USDC which could be a sign of things to come when Coinbase lists more cryptocurrencies. The next most likely to be added to the platform are Stellar, Cardano and Zcash according company blog posts.
Bitcoin has traditionally been the medium of choice for trading altcoins when fiat trading is unavailable. Some have observed that if the trend continues Coinbase could be trying to disrupt Bitcoin’s position as a reserve asset for the crypto space;

Coinbase listed BAT only against USDC, not BTC. So if you wanna buy BAT (not that anyone should), you need to buy USDC first. Let's see if this trend continues with future pairs (or even existing ones), could be an attempt to disrupt BTC's status as reserve asset of this space.
— Hasu (@hasufl) November 6, 2018

The battle for stablecoin supremacy has shifted gears in the last month with a new one appearing almost weekly. All of these fiat-pegged currencies are slowly weakening Bitcoin’s status as a crypto reserve for trading and hodling, but that maybe the intention of Coinbase and other exchanges such as Gemini. At the moment the majority of BAT trade is in BTC on Binance which has 65% of the total so there is no change as yet.
However, if future pairs listed on Coinbase and other exchanges are only available in USDC, GUSD, or whatever the respective exchange is offering, then this could be the case. We will have to wait until the next announcement to see if this trend continues, which should not be that long.
The post Is Coinbase Trying to Disrupt Bitcoin’s Reserve Asset Status by Listing New USDC Pairs appeared first on NewsBTC.
Source: New feedNewsBTC.com

Multiple Stablecoins find listing on Liquid trading platform along with Electroneum (ETN)

Stablecoins are in demand everywhere and seems like everyone wants a piece of them. Considering this demand from the customers, a lot of exchanges are adding them in a frenzy. Same seems to be the case with Liquid- a trading platform that bridges fiat and crypto.
Gemini Dollar (GUSD), Circle’s USDC and Electroneum (ETN) find listing on Liquid
According to the recent announcement, Liquid, a trading platform that bridges fiat and crypto, has announced the listing of Electroneum (ETN), a cryptocurrency focused on mobile usage, in addition to multiple stablecoins including Gemini Dollar (GUSD) and Circle’s USDC
Liquid is a product of QUOINE, a blockchain fintech company and creator of the QASH cryptocurrency. QUOINE previously raised $100 million via an ICO in 2017 and has conducted more than $50 billion in transactions over the past year, as of July.
The press release that announced that Liquid will be listing GUSD quoted Liquid CEO Mike Kayamori saying that
“The Gemini dollar is an obvious choice for Liquid. Both Liquid and Gemini put transparency, regulation and compliance at the forefront of our operations. We are proud and honored to be able to offer Liquid customers the opportunity to use a stablecoin that can stand up to regulatory scrutiny. We will now explore the opportunity to develop a JPY-pegged stablecoin”
The reason behind Liquid listing these stablecoins seems to be the popularity stablecoins have gained recently and have become an important part of the cryptocurrency ecosystem. These fiats backed coins give traders flexibility to hedge against volatile markets and the ability to easily and safely move funds between platforms. Tether stood as the bellwether for sablecoins but as controversy started building around it with respect to its USD backing, a lot of people and exchanges lost trust in it.
With Tether unable to standout clean, Gemini USD started gaining popularity despite recent launch. The reason for this popularity is because this stablecoin is well regulated and audited. The U.S. dollars that back GUSD are held at the State Street Global Bank in the United States and eligible for federal deposit insurance coverage. The balance held by State Street is examined monthly by an independent, registered public account firm, with reports available to the public, while the smart contracts underlying the GUSD token have been audited and formally verified by an independent security firm, whose report is also publicly available. In addition, the multi-layered GUSD protocol brings a high level of security.
With the addition of GUSD, a regulated and audited stablecoin with value pegged 1:1 to the U.S. dollar, Liquid is now more than ever at the forefront of cryptocurrency innovation and compliance.
Apart from these stable coins, Liquid also listed Electroneum (ETN) with an EUR fiat trading pair. Electroneum, as a project, aims to build itself into a recognized platform for payment, similar to PayPal or Venmo. To accomplish this, the Electroneum has introduced a new system of KYC that “involves each user providing proof of identification based on the amount of ETN (our digital currency) they hold or send from their wallets.”
With some good listings, Liquid will not be able to generate volumes for itself but also will be able to provide liquidity to these stablecoins. Let’s see how to do these listing play out on the liquid platform
Will Stablecoins help in making liquid a prominent crypto cum fiat platform? Do let us know your views on the same
The post Multiple Stablecoins find listing on Liquid trading platform along with Electroneum (ETN) appeared first on Coingape.
Source: CoinGape

Yet Another Stablecoin Launched, but This One With Real-time View of Fiat Reserves Balance

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Yet Another Stablecoin Launched, but This One With Real-time View of Fiat Reserves Balance

Stably is a venture capital-backed startup seeking to bring stability to the volatile cryptocurrency market through a secure, transparent medium of exchange. Having already raised around $500,000 in seed funding they kickstart the StableUSD project.

Yet Another Stablecoin Launched, but This One With Real-time View of Fiat Reserves Balance

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Source: CoinSpeaker

Winklevoss’ Gemini Dollar [GUSD] live on Coinomi Wallet; another feather in the cap for the stablecoin?

Recently, Gemini Exchange, a digital asset custodian and exchange platform announced that its stablecoin, Gemini Dollar [GUSD] was live on Coinomi wallet.
The Gemini Trust Company is a New York-based platform which was founded in 2014 by Cameron and Tyler Winklevoss. On June 2016 the exchange came to be known as the world’s first licensed cryptocurrency exchange platform. The Coinomi wallet is a cryptocurrency wallet wherein users can store, manage and exchange Bitcoin [BTC], Ethereum [ETC] and several other altcoins.
Gemini on its official Twitter stated:
“We are happy to announce that the Gemini dollar [GUSD] is now live on CoinomiWallet!”
Earlier in September, the Winklevoss twins launched their regulated stablecoin, GUSD on Gemini Exchange with an aim to ‘send and receive U.S dollars like e-mail’. The twins had stated that through the launch of the GUSD stablecoin, the US dollar could be brought to the blockchain platform.
The Winklevoss brothers further stated that the move was made to serve as a link between the present fast-paced digital currency ecosystem and the traditional fiat-based payment system.
TeslaTrades, a Twitterati said:
 “This is awesome. I am very happy now. RIP Tether.”
MountCrypto, another Twitterati said:
 “I Hope that the GUSD is the USDT killer.”
WarnerBrosUrban, a Twitter user said:
 “This is a scam coin, lol.”
The Gemini Dollar was previously listed on Bibox, an AI-enhanced, encrypted cryptocurrency exchange platform. Towards the end of September, GUSD was listed on HitBTC exchange. HitBTC on their Twitter stated that they strongly support the concept and philosophy of stablecoins and were therefore glad to open markets for the Gemini Dollar.
Moreover, in mid-September, Gemini Exchange announced that they had received regulatory approval to list Litecoin [LTC] on its platform.
The post Winklevoss’ Gemini Dollar [GUSD] live on Coinomi Wallet; another feather in the cap for the stablecoin? appeared first on AMBCrypto.
Source: AMB Crypto

Decentralization Ghost begins to Haunt Gemini’ Stable Coin within Days of Launch

While the world was rejoicing the moment that they had a non-controversial, registered stable coin to hide when the crypto markets turn volatile, the coin has attracted controversy. According to the blockchain researcher Alex Lebed latest report which he wrote for tech publication Good Audience, Gemini Can Freeze its USD-Pegged Cryptocurrency at Any Time as it wants, resurfacing issues of decentralization.
“Custodian” has provision to freeze any account
Alex Lebed in his latest research has performed a code review of the Gemini dollar smart contract, and what he found has been astounding.   According to Lebed GUSD includes a provision that allows its “custodian” — namely Gemini — to freeze any account. Lebed — who, in full disclosure, is also attached to a separate stable coin project — further notes that GUSD uses an ERC20Proxy contract that gives Gemini, as the custodian, the ability to upgrade the contract once every 48 hours, giving it among a myriad of other things the power to simultaneously render all tokens non-transferable.
According to the research wordings of Lebed, he analyzed the code at

The code is 1028 lines long and begins questioning the code as he reads the general conditions of the contract.

“So, the user uses the ERC20Proxy contract which offers an ERC20 interface, i.e. standard functions balance, total supply, etc which call erc20Impl object for actual implementation. For example:

“Where does this object erc20Impl come from? Here we have to pay attention to the second part of the ERC20Proxy declaration: ERC20ImplUpgradeable. This object has an actual implementation of the ERC20 interface. Why is it called …Upgradable?
Because contract ERC20ImplUpgradeable is CustodianUpgradeable.”

Going deeper into the code he finds that the Custodian is the only modifier to the code.
While reading the contract, he points out that the default time lock is also set at 172800 seconds is 172800/60/60=48 hours.
On should not be surprised that Gemini included a provision to allow it to freeze funds, given that Cameron and Tyler Winklevoss repeatedly touted GUSD as the first “trusted and regulated digital representation of the U.S. dollar,” both in the official announcement and in subsequent media appearances.
But the community will not take it well if the stable coin is controlled by Gemini.
Related: Winklevoss’s NYDFS Licensed Stable Coin “Gemini Dollar” may Pull Strings on Notorious Tether
Decentralization issues in crypto industry
Ripple and XRP are fighting a long battle to prove the coins and the ledger are decentralized. As Ripple holds a certain number of nodes on the ledger who approve transactions and as the company holds a lot of XRP’s Ripple is always under the scrutiny of controlling the ledger and the coins. On this ground, the coin is also facing a threat of being termed as security by the SEC- A point that is not letting the coin’s price to rise despite being one of the coins with a definite use case.
Another coin which is also under scrutiny for centralization is EOS. The project has taken an unusual approach to monitoring the blockchain on more than one occasion. It had appointed 27 block producers who had rights to terminate transactions. This was considered a centralized approach as all 27 block producers knew each other and could play foul anytime. One such example was when  On 22 June this year The company a notice saying
“Emergency Measure of Protection Order” released by the EOS Core Arbitration Forum (ECAF), 27 block producers maintaining the protocol was directed to end all transactions with immediate effect. Interestingly, the ECAF did not explain the reason for the order, but stated that the “logic and reasoning for this Order will be posted at a later date.”
The ECAF Interim Emergency Arbitrator, Sam Sapoznick, signed the declaration:
“It is hereby ordered that the EOS Block Producers refuse to process transactions for the following accounts and keys indefinitely. (Until further official notice and instruction from the ECAF.)”
Members of the cryptocurrency industry, enthusiast, and industry observers have not been big fans of centralization as it takes away the essence of blockchain and decentralized world. Like Ripple and EOS, Gemini too would be looked with a cautious eye. We will have to await a statement from Gemini to get more clarity on this. The future on the GUSD would lie on that. Otherwise, we would have another controversial stable coin on the market.
Will Gemini clarify its stance on the centralization issue that its recently launch stable coin is marred with? Do let us know your views on the same.
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Source: CoinGape