Tron’s [TRX] Justin Sun announces USDT-Tron support on hacked exchange DragonEx

Hacks have been a recurring issue that have often crippled the cryptocurrency market, with the Cryptopia hack in January being a prime example. The latest victim to fall prey to this predicament was DragonEx, a crypto exchange which announced that its platform was hacked, on their Telegram channel.
The hack was reported on 24-25 March, while on 25 March, the Tron Foundation announced that the USDT-Tron trading pair will be supported by DragonEx. This announcement was part of a slew of updates from the Tron roster, which also included TRX Market announcing its support for the USDT-Tron pair.
It is not confirmed whether Justin Sun and the Tron Foundation were aware of the hack before announcing it on social media, but the timing of the announcement demonstrates that the Tron update followed the announcement of the hack.
Post the hack, DragonEx had announced,
“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation.”
Further reports have confirmed that that the lost assets include Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], and Qtum.
The exchange also announced its investigation of the hack, stating that the authorities were working on finding the perpetrators. An official message from DragonEx read,
“We have encountered attacks from hackers and our users’ crypto assets and DragonEx’s crypto assets are both stolen. International Policemen are investigating. Please wait for following announcement about the accurate loss situation.”
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Source: AMB Crypto

OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange
OKEx plans to catch up with Binance by scheduling the launch of its in-house decentralized exchange, DEX, for this June. The DEX will run entirely on OKEx’s own blockchain.
OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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Source: CoinSpeaker

CoinMarketCap responds to inaccurate data allegations; says such concerns are valid

CoinMarketCap, one of the prominent aggregators of cryptocurrency market data, was recently accused of manipulating trading volume. CoinMarketCap responded by stating that concerns over inaccuracies “were valid” and that it would be adding more data for its users to make better decisions.
CoinMarketCap is one of the top 500 most-visited websites, and is popular among crypto users for information regarding crypto prices, exchange volume, market cap, and rankings. However, a report published by Bitwise on 20 March suggested that the site’s “data was wrong”. The Bitwise report claimed that about 95% of Bitcoin’s exchange trading volume listed on CoinMarketCap was fake or non-economic in nature, “thereby giving a fundamentally mistaken impression of the true size and nature of the Bitcoin market”.
The crypto data aggregator site has notable influence over the cryptocurrency ecosystem, including the prices of cryptos. In early 2018, when CoinMarketCap removed numerous South Korean exchanges from its price calculations, a sharp fall in most cryptocurrencies’ prices was recorded, reported Bloomberg.
The trading volume of the popular website is in question yet again, and it has planned to fix the problem by including a set of new tools to offer more transparency in trading, said Carylyne Chan, the Global Head of Marketing at CoinMarketCap, in an email to Bloomberg News.
Chan gave examples of liquidity measures, hot and cold wallet balances, and traffic data for listed exchanges. She added,
“For instance, if an exchange with low traffic has $300M volume and just 5 BTC in its wallet, users will be able to draw their own conclusions without the need for us to make arbitrary judgment calls on what is ’good’ or ’bad,’” Chan said. “We want to state that our philosophy is to provide as much information as possible to our users, so that they can form their own conclusions and interpretations –- and not introduce our own bias into that mix.”
CoinMarketCap will be making a series of changes in response to concerns about fake trading volumes. In July 2018, the website said it removed volume requirements for exchanges to be listed, along with the introduction of seven-day and 30-day volume. It also started listing the date of establishment of exchanges to help users.
In response to people’s concerns, CoinMarketCap responded,

Source: Twitter
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Source: AMB Crypto

Limited Supply Principle stifling cryptocurrency regulatory approval, says CME Chairman Terry Duffy

Terry Duffy, the Chairman of the Chicago Mercantile Exchange [CME], is in the news after he cast doubts on the prospects of a publicly traded Bitcoin asset. Cryptocurrencies backed by real assets like fiat currency would be the only form of virtual currency that would fit the bill under regulatory oversight, he stated.
During a recent interview at FIA’s International Futures Industry conference, Duffy voiced his support for stablecoins backed by real dollars.
Stablecoins like Tether [USDT] are backed one-for-one by fiat and hence, are the ‘best of both worlds.’ They allow users to delve into the cryptospace, enjoying ubiquity and universality of payments while still being tethered to the centralized financial world.
He stated,
“How do we figure out how to get the cryptos in there, but just have them backed up by fiat, and let that work as it is.”
Cryptocurrencies are often seen as just another investment vehicle, where the value of the underlying coin is more important than its use cases. Duffy stressed that the adoption and use of decentralized currency should be of greater concern, than the actual rise and fall of the market.
The CME Chairman added,
“But the argument has gone only to the price of say bitcoin or any other cryptocurrency. No one is talking about, ‘How do I use this asset?”
Publicly traded Bitcoin [BTC] assets, like the much-touted Bitcoin Exchange Traded Fund [ETF] have been in a regulatory shackle for months now. Despite two proposals, the Securities and Exchange Commission [SEC] is yet to give its approval, with many claiming that doing so is hindering the mainstream growth of decentralized currency.
Duffy added that the main reason for the backlash against the ETF was the underlying cryptocurrency’s principle of limited supply. The protocol placed into Bitcoin is that there can only be 21 million BTC in supply, which the market is expected to reach in 2140 when the mining rewards dwindled to 0.
Cryptocurrency proponents often cite this principle as one that balances the market and reduces inflationary pressure. Sovereign currency can be created by the government at any time, which is a fundamental point of opposition within the crypto-community.
In light of this debate, Duffy stated that governments cannot operate unless “they run on a deficit.”
Regulation is the single biggest hurdle for cryptocurrency adoption, something Duffy acknowledged. The cryptocurrency community needs to get the nod from financial watchdogs if they want to break into the forefront of the financial realm, he believes.
Duffy concluded by highlighting the skepticism that regulators have when approaching the topic of cryptocurrencies,
“I do believe that the regulators right now are a little careful about just rubber stamping anything as it relates to crypto.”
The CME group, together with its cross-city rivals, the Chicago Board of Options Exchange [CBOE], set the cryptocurrency market alight by launching Bitcoin Futures in 2017. However, 15 months after the launch, the CBOE decided to delist the XBT contracts for March 2019, allowing the CME group to take over the BTC Futures market.
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Source: AMB Crypto

Apple (AAPL) Stock Plunges After the Company Presents New Services

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Apple (AAPL) Stock Plunges After the Company Presents New Services
It was expected that Apple’s Special Event would lead to sales increase and jump of shares’ price, but the effect was converse. The price decreased by 2 percent to $187,37 per share.
Apple (AAPL) Stock Plunges After the Company Presents New Services

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Source: CoinSpeaker

Kintaro Capital Receives License from Malta Financial Services Authority as a Private Investment Crypto Fund

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Kintaro Capital Receives License from Malta Financial Services Authority as a Private Investment Crypto Fund
Kintaro Capital is one of the first EU crypto funds who received their license from the Malta Financial Services Authority (MFSA), licensing it as a Private Investment Fund (PIF) for cryptocurrencies and listed equities.
Kintaro Capital Receives License from Malta Financial Services Authority as a Private Investment Crypto Fund

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Source: CoinSpeaker

Breaking: DragonEx hacked; exchange reports loss of customers’ funds

DragonEx, a cryptocurrency exchange platform that claims to be “a safe and stable platform for Bitcoin and ETH transactions,” is in the news after it announced via their official Telegram channel that its platform had been compromised. The announcement stated that the exchange lost control of its users’ cryptocurrency assets. However, the exchange did not elaborate on the exact amount of loss incurred by DragonEx.
The announcement further read,
“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation.”
The exchange’s officials stated that the trading services provided to users on the platform will shut down. The team claimed that the exact turn of events, loss of assets and  recovery details pertaining to the hack would be released in a week, adding that the exchange “will take the responsibility no matter what.”
Source: Telegram
DragonEx’s statement on Telegram stated,
“We have encountered attacks from hackers and our users’ crypto assets and DragonEx’s crypto assets are both stolen. International Policemen are investigating. Please wait for following announcement about the accurate loss situation.”
Further, an admin of the channel, Joanne Long stated that the team had tracked down the addresses the stolen funds were transferred to. Based on the data collected, they ascertained that the assets lost during the hack included Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], Qtum, and Tether [USDT].
Source: Telegram
These coins were then transferred to leading exchanges such as Binance, Bittrex, and Huobi. As of press time, the coins transferred from the above addresses were frozen on Huobi and Gate.io.
Notably, this announcement was made only on the exchange’s telegram account. The last update on Reddit was three days ago, while DragonEx remained silent on Twitter.
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Source: AMB Crypto

Coinbase is a bank, says Andreas Antonopoulos; cites two reasons for “centralized” exchange’s popularity

In a podcast interview with Adam B. Levine, the host of the Let’s Talk Bitcoin podcast, Andreas Antonopoulos, a Bitcoin proponent and author of Mastering Bitcoin, said that Coinbase was a bank.
Levine and Antonopoulos were joined by Jonathan Mohan, a blockchain consultant, to discuss privacy and banks, during which Levine raised a concern about Coinbase, calling it a centralized exchange with no privacy. Levine went on to ask,
“So is there a use case for decentralized exchanges, or do we need to have a different type of centralized exchange? Is there a solution to this problem?”
Antonopoulos said that we were battling for privacy in the 21st century, in every domain. He clarified that banks were obligated to carry all round surveillance of every financial transaction in and out of every bank account, credit card, and payment under the Patriot Act. He added,
“So whenever you do a transaction on your Visa card, or your Paypal transaction, or your bank accounts, you can assume that not only are the Five Eyes agencies of Australia, New Zealand, the UK, Canada, and the United States watching, but you can assume that half of the European intelligence agencies, the Chinese, and Russians are watching that transaction too, and are all doing statistical analysis scoring.”
That is how traditional finance worked, he said. Talking about the role exchanges play, Antonopoulos opined that they were a mere subset of what is happening across the financial world. Due to the lack of visibility in crypto, they can be “thwarted, which means you can obfuscate and build better privacy into these systems.”
He called Coinbase a crypto-friendly bank. However, being a bank, signing up on Coinbase meant “compromising your privacy,” which is completely opposite of what cryptocurrency stands for, he added. He explained two reasons for the exchange’s popularity,
“One is, for people who see cryptocurrency as an investment, which in my opinion has always been the wrong way to look at this. If you’re not earning cryptocurrency you’re buying cryptocurrency, then you need an exchange. You don’t use cryptocurrency, so you keep moving between the two economies of fiat and crypto.”
Security in crypto was another issue, he said. He claimed that this lack of security led people to choose banks for outsourcing, banks who “don’t know how to handle their own custody.” He concluded by urging people in the space to help others with self-custody and security of their crypto, to keep people from outsourcing to a company where problems of privacy emerged.
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Source: AMB Crypto

Blockchain is not for all database related projects, says ANZ Associate Director

Maria Bellmas, the Associate Director of Trade and Supply Chain of NAZ Institutional, recently questioned the effectiveness of the distributed ledger technology or the blockchain technology over the traditional systems.
In a recent blog post, the Director of Australia and New Zealand Banking Group Limited [ANZ] claimed that Blockchain technology is “sold as a solution to all of life’s problems” and added that not all projects would benefit from it.
She was of the opinion that even though the blockchain technology had numerous use-cases, it was still not a necessary technology. Bellmas stated that the existing legacy database and technology solutions were better for certain projects and emphasized that the technology was not mature enough. According to Bellmas, existing database systems have already provided solutions for all the issues that the blockchain wants to fix.
The genesis of blockchain was meant for completely eliminating the need for third-party intervention for the execution of transactional settlements, while traditional financial systems were still very much in need of it.
According to Bellmas, the distributed ledger technology has become the go-to technology in the tech ecosystem, whose success was fueled by the Bitcoin boom and the subsequent collapse. The technology raises important questions, despite offering genuine solutions, she asserted.
Citing the example of Chinese blockchain-related projects in 2018, where only 8% of the total 80,000+ projects were still active, Bellmas explained that the technology was not a solution for all database projects.
He Baohong, the director of CAICT’s Cloud Computing and Big Data Research Institute, had earlier compared blockchain to other short-lived contemporary technologies and said that the latter would eventually die out. However, in the case of the blockchain, the director stated,
“In this circumstance, governments globally are accelerating their efforts to establish unified standards in order to help blockchain projects to achieve real-life applications.”
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Source: AMB Crypto

Tether [USDT]’s market cap dominance of stablecoin market down to 75%

Tether [USDT], one of the most controversial stablecoins of 2018, continued to gain the cryptocurrency market’s attention this year. From speculations and allegations over the coin not being backed by the U.S Dollar against its claims in 2018 to becoming a coin not being entirely backed by the U.S dollar in 2019, the coin made headlines all year long.
Taking all this into consideration, Ceteris Paribus, a Twitter user, pointed out that the market cap of Tether witnessed a significant drop over the past year. At the beginning of 2018, the coin had control over the entire stablecoin market. However, it witnessed a significant drop towards the end of November 2018.
Based on the post, Tether conceded its market to Circle’s USD Coin [USDC], TrueUSD [TUSD], Paxos Standard [PAX], DAI, and the Gemini Dollar [GUSD]. Nonetheless, Tether still held a majority of the market cap, reigning over 75% of the entire stablecoin market. The cryptocurrency was followed by USDC with control of around 9% and TUSD with 7% control of the entire stablecoin market cap. The rest was covered by DAI and Gemini Dollar.
Source: Twitter
HODL_monk, a Reddit user, stated that the reason for USDC gaining momentum in the stablecoin market was Coinbase. The user said,
“Coinbase just put a BIG boost on USDC, by making it the only way to online fiat to crypto without fees on Coinbase Pro. I will probably be using USDC for that reason alone, and I doubt I will be the only one.”
Cthulhoo, a Redditor said,
Source: Reddit
To this, Nullius_123 stated,
“I think that once DAI accepts BTC (and other assets) as collateral for its lending system, DAI could become the major player in the stablecoin landscape. It is the only stablecoin that is open and transparent. We don’t even know if Tether is fully capitalized. I am astonished that anyone would risk their capital with it.”
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Token’s future remains bearish despite bullish activity in the short-term

The fourth largest coin on CoinMarketCap, Litecoin [LTC], breached the $60 mark, despite minor slip ups in the bull run.
At press time, the coin held a market cap of $3.69 billion and was priced at $60.45. The digital silver registered a 24-hour trading volume of $2.01 billion. LTC exhibited a minor loss of 0.41% against the US dollar over the past 24 hours. Additionally, it fell by 1.30% over the past seven days.
Coineal contributed the highest trading volume for the coin, accounting for 7.67% of the total trading volume via the LTC/BTC pair. It was followed by Coinall with 7.45%, and DigiFinex with 5.38%, respectively.
1-hour
Source: TradingView
Litecoin’s one-hour chart exhibited a long uptrend from $55.91 to $57.77. A downtrend from $61.40 to $59.28, along with two minor downtrends between $59.59 – $58.47 and $60.44 – $59.44 were registered on the chart. The support for the coin was found at $55.47, while the resistance was at $65.
Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.
Awesome Oscillator: The closing bars of the indicator were green, indicating bullish price momentum for Litecoin.
Chaikin Money Flow: The CMF was above the zero-line, indicating money flow into the LTC coin market and hence, a bullish market.
1-day
Source: TradingView
On LTC’s one-day chart, an uptrend from $32.83 to $45.68, and a longer downtrend from $55.82 to $33.96 were seen. The immediate resistance for the digital asset was marked at $63.06, while support points were found at $30.55 and at $22.91.
Parabolic SAR: The dotted markers were below the candlesticks, predicting bullish movement for the coin.
Klinger Oscillator: The reading line was below the signal line and pictured a bearish trend for Litecoin.
MACD: The MACD line was also below the signal line, reiterating the bearish projection.
Conclusion
The short-term indicators for Litecoin [LTC] projected a bullish market and potential price breakouts. The long-term indicators however, projected a strong bearish phase for the silver coin.
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Source: AMB Crypto

Cardano is a multi-ledger system that will support multi-currencies, says Charles Hoskinson

Charles Hoskinson, the creator of Cardano and CEO of IOHK, organized a surprise Ask Me Anything session on his YouTube channel on March 24, 2019. In this session, the CEO covered various topics such as the Roadmap update, the release of training materials, Cardano’s status as a multi-asset ledger, and EOS centralization.
On being asked about the roadmap update, Charles Hoskinson assured that it would be announced during the IOHK summit being held between April 17-18, 2019 in Miami.
Hoskinson further spoke about whether ADA would be the only cryptocurrency for the entire Cardano ecosystem, or there would be more currencies introduced in the future. He stated that it would not be a “particular usual financial system,” if users cannot issue their own assets, adding that Cardano was a multi-ledger system that would support multi-currencies.
Hoskinson went on to say,
“And, we think we have a great strategy for handling that, I’ve partnered with somebody personally who’s in the ICO market to see what we can do about bringing STOs to our platform as well or at least ensuring inter-operability standards. So, we will be a multi-asset ledger.”
Additionally, Hoskinson remarked that EOS “felt like centralization,” rather than a “perfectly legitimate product.” He added that he failed to see any differentiation between deploying something on EOS versus deploying something on Amazon. The Co-founder of Ethereum said,
“[…] expect for being much more expensive, unpredictable pricing and lower quality of service and also when things go wrong, and have no recovery mode outside of begging a committee of people to save you […] This is not innovation, this is just application old concepts and then bolting on poorly conceived governance system and cutting a lot of poor facilities.”
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Source: AMB Crypto

Bitcoin [BTC] is a more fluid, dynamic currency than the US Dollar, claims Tim Draper

Tim Draper, a renowned Silicon Valley Venture Capitalist, recently spoke about Bitcoin and offered cryptocurrency investment advice during an AMA session on Facebook.
Draper said that the ideal period to invest in Bitcoin had not passed yet and that he had more faith in the digital asset than the US fiat currency.
Back in 2014, the FBI shut down the black market site Silk Road and seized 144,336 Bitcoins. The US Marshals Service auctioned these digital currencies, with Tim Draper purchasing 29,656 bitcoins at the time. Draper bought it for an estimated $18 million, worth around $118 million, at press time.
Tim Draper stated,
“What it is [Bitcoin] is the future of currency and the currency is going to be decentralised and open and you’re going to end up with a much more fluid, dynamic currency if you own Bitcoin, than if you own dollars.”
He also told investors not to worry too much with respect to the short-term price fluctuations in the cryptosphere. He indicated that it was not ideal to invest in Bitcoin while focusing only on the short term, suggesting that doing so was a “mistake”.
He stressed on the importance and value of Bitcoin and explained how it depended on people and heavy investors. He also added that people could manipulate the coin’s price, stating that its valuation could go up or down if big customers invested in or sold off the coin.
He added,
“Sometimes Bitcoin is going to feel very valuable … and sometimes you’re going to feel like dollars are what you really want to hold on to. When you feel like dollars are what you really want to hold on to, you probably want to buy Bitcoin.”
Tim Draper recently met Argentinean President, Mauricio Macri, suggesting that he should announce Bitcoin as a national currency. Draper was convinced that the decision would rescue the country from its current financial crisis. He said,
“That could end up being just phenomenal and globally, people will start saying I’m going to Argentina to start my business.”
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Source: AMB Crypto

XRP: Bitfi adds XRP after Bitrue listing; cites ‘mass adoption’ as key reason

The XRP community has been in the news multiple times recently due to its activity online and the sheer force of user interactions on social media platforms. The clamoring for mass adoption seems to have received a boost as Bitfi, a popular cryptocurrency wallet, announced that they would be adding XRP to its arsenal. The organization tweeted:
“You asked, we listened. XRP is launching in Bitfi soon. And no, it is not like Bitcoin, poses no threat to Bitcoin, & serves a completely different purpose. Let’s keep an open mind & make the entire community stronger. Spread the love  #xrp #ripple”
The news garnered a lot of positive reviews from the community and the crypto-verse, with many calling it a piece of “good news”. Post the listing of XRP, many users were also clamoring for the addition of Tezos. To this Bitfi replied:
“Tezis is very high on the priority list.”
Another Twitter user, Teodor Andrei, stated:
“This is a good news, I HODL #XRP”
Bitfi claimed that XRP addition was another step in the wave of mainstream adoption because the platform was mainly Bitcoin-friendly.
XRP also got another morale boost when Bitrue added XRP base pairs against three cryptocurrencies. The three pairs would be DASH/XRP, BAT/XRP, and STORM/XRP. The exchange upgraded their wallet for XRP and resumed deposits and withdrawals of XRP on March 23, 2019.
Bitrue also revealed its future plans for the coin as an XRP airdrop was announced, with a 7.3% interest program for XRP in the works.
@plitern1, a Twitter user, commented:
“Thank you for the continued roll-out of XRP base pairs! This is how the whole ecosystem of crypto starts to mature as a whole: The diminishing correlation to the Btc peg. It’s not only great for #XRP but for everyone that likes crypto & wants crypto as a whole to succeed.”
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Source: AMB Crypto

eToro acquires Danish blockchain firm Firmo; aims to accelerate growth of tokenized financial assets

eToro, a renowned crypto-trading platform, recently announced the addition of Tron [TRX] to its platform. Now, the trading platform is expanding even more after it was reported by Bloomberg that eToro acquired Copenhagen-based blockchain firm Firmo.
The report claimed that the partnership would accelerate the growth of tokenized financial assets. eToro would be absorbing Firmo’s research and development team as part of the acquisition, the company said in a statement. However, it did not provide the deal’s financial terms.
In an interview given by Yoni Assia, the Co-founder and CEO of eToro, the acquisition was dubbed as a game changer for his company as it would boost eToro’s growth in the future tokenized economy. He said,
“Blockchain and the tokenization of assets will play a major role in the future of finance. We believe that in time all investable assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.”
He added,
“We aim to be active players in blockchain consolidation”
The report claimed that Firmo’s platform would be used to execute financial contracts on multiple blockchains, which would allow its programming language to be used in creating similar products for cryptocurrency derivatives. A peer-to-peer lending service can also be built using the same.
According to Bloomberg, eToro is looking at additional acquisitions. However, Assia declined to comment on the matter. The Founder and CEO of Firmo, Dr. Omri Ross, said that there were numerous factors that had prevented the mass adoption of blockchain technology and its integration into legacy infrastructure. He said,

“Our goal is to enable our users to trade any asset globally with instant settlement by tokenizing assets and executing all essential trade processes on the blockchain.”

Firmo would be part of the internal innovation unit at the Israeli social trading platform and would be responsible for the research and development of infrastructure for representation of assets and the execution of trade processes on blockchain infrastructure, reported Finance Magnates.
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Source: AMB Crypto