Binance Will List Its Binance USD (BUSD) Stablecoin Next Week

Coinspeaker
Binance Will List Its Binance USD (BUSD) Stablecoin Next Week
Binance announced the listing of its USD-backed stablecoin BUSD. According to the announcement by Binance CFO Wei Zhou and Richmond Teo, Co-Founder and CEO Asia of Paxos Trust Company, BUSD will become available to public next week.
Binance Will List Its Binance USD (BUSD) Stablecoin Next Week

Continue reading at Coinspeaker
Source: CoinSpeaker

China’s Central Bank Focuses on Development of Its Own Virtual Currency

Coinspeaker
China’s Central Bank Focuses on Development of Its Own Virtual Currency
China’s Central Bank now wants to develop a virtual currency to compete with the recently unveiled Facebook’s Libra aiming to gain the lead in the development of the cryptocurrency and blockchain technologies.
China’s Central Bank Focuses on Development of Its Own Virtual Currency

Continue reading at Coinspeaker
Source: CoinSpeaker

SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token

Coinspeaker
SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token
The U.S. Securities and Exchange Commission (SEC) has approved the first-ever Ethereum token sale from blockchain-based gaming startup Pocketful of Quarters (PoQ).
SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token

Continue reading at Coinspeaker
Source: CoinSpeaker

Goldman Sachs Might Launch Its Own Cryptocurrency

Coinspeaker
Goldman Sachs Might Launch Its Own Cryptocurrency
In recent French news, Goldman Sachs CEO, David Solomon, revealed that the company is looking into developing its own cryptocurrency, like JPMorgan Chase. Also, the company is researching asset tokenization and stablecoins as such.
Goldman Sachs Might Launch Its Own Cryptocurrency

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Joins Forces with Paxos for a New Deposit Gateway

Coinspeaker
Binance Joins Forces with Paxos for a New Deposit Gateway
Binance and Paxos have entered a collaboration to integrate a new deposit gateway on Binance.com. It will significantly facilitate fiat-to-PAX exchanging procedures.
Binance Joins Forces with Paxos for a New Deposit Gateway

Continue reading at Coinspeaker
Source: CoinSpeaker

StableUSD Becomes the First Stablecoin Listed On Binance DEX

Coinspeaker
StableUSD Becomes the First Stablecoin Listed On Binance DEX
StableUSD, a stablecoin created by Seattle-based venture-capital backed startup Stably, has just become the first stablecoin listed on Binance DEX.
StableUSD Becomes the First Stablecoin Listed On Binance DEX

Continue reading at Coinspeaker
Source: CoinSpeaker

Max’s Corner: Slouching Towards Silicon Valley

Coinspeaker
Max’s Corner: Slouching Towards Silicon Valley
This edition of Max’s Corner analyzes the controversy surrounding the changes to Google’s search algorithm, the plight of the Silk Road founder and the latest on Facebook’s crypto project.
Max’s Corner: Slouching Towards Silicon Valley

Continue reading at Coinspeaker
Source: CoinSpeaker

Nornickel’s Crypto Tokens Will Be Launched by the End of This Year

Coinspeaker
Nornickel’s Crypto Tokens Will Be Launched by the End of This Year
Norilsk Nickel’s Stablecoin backed by contracts for palladium and nickel trading, is planned for launch by the end of 2019. The pilot project will be rolled put in partnership with IBM and Hyperledger Fabric.
Nornickel’s Crypto Tokens Will Be Launched by the End of This Year

Continue reading at Coinspeaker
Source: CoinSpeaker

Stablecoin or Cryptocurrency: Both Digital Currencies a Threat To Central Banks

Stablecoins are potentially one of the most popular use cases of blockchain technology after ‘utility coins.’ Utility tokens are primarily created out of thin air or mined by spending electricity or value, whereas A ‘real world’ asset backs Stablecoins. The US Dollar backs the most popular stablecoins.
At the initial stage, the stablecoins were introduced on cryptocurrency Exchange sites to facilitate storing of value digitally. Moreover, now the central bank issued coins like JPM Coin and Facebook’s Globalcoin are adopting the same technology to implement stablecoins only. Agustin Carstens, General Manager for Bank of International Settlements, wrote in a blog post,
Central bank digital currencies could bring profound changes to the financial system, potentially crowding out commercial banks. They could also change the way monetary policy operates. The implications for monetary and financial stability need careful consideration.
Electronic Payments and Digital Currencies
This is because there is a fundamental difference between making electronic payments and using digital currencies. In digital currencies, the value is stored on the ledger, whereas, with electronic payments, the value is stored in banks. The banks then provide interest over it and use to increase revenue. This system currently forms the basis of all financial transactions.
Moreover, according to Carstens, the demand for cash is still very high as that is what is primarily used by the system even now that digital payments are on the rise. The need for digital currencies is still very low. He said,
“Some argue that a central bank digital currency would be the ultimate new central bank tool in this digital age, replacing cash altogether. But very few see a chance of turning theory into practice any time soon.”
Increasing Demand for Stablecoins
Nevertheless, due to the influence of cryptocurrencies, some part of the money is moving to digital currencies. A data reported by the Binance Exchange suggests that the demand for stablecoins was higher than cryptocurrencies are traders are looking for safer virtual currencies on the internet as well. Mati Greenspan tweeted about the fact,
“Latest report from @BinanceResearch shows how stable coins are eating the market share of crypto volumes. USDS went from 1/3rd to 3/5ths in 12 months. That’s a fundamental change.”
Pie Chart Showing Percentage Share of Demand for Digital Tokens on Binance (Source)
Also Read: Facebook’s ‘Globalcoin’ Will Credentialize Bitcoin as a Store of Value: Mike Novogratz
Furthermore, Facebook’s Globalcoin is also a landmark change in the financial payments space due to the sheer size of its network. Nic Carter, analyst, and trader expressed that the sovereign FIAT currencies will ultimately fail and private value tokens including cryptocurrencies would survive; its because they have a higher chance of appreciating. He tweeted,
Facebook has better macroeconomic data than the Fed. More credit data than most banks. Freed from political constraints, why wouldn’t they be able to engineer a currency indexed to purchasing power with attractive interest rates?
Do you think that the Federal Governments will be able to counter the new wave of transparency and accountability in the financial system? Please share your views with us. 
The post Stablecoin or Cryptocurrency: Both Digital Currencies a Threat To Central Banks appeared first on Coingape.
Source: CoinGape

Facebook Started Discussions with CFTC Over Its GlobalCoin Initiative

Coinspeaker
Facebook Started Discussions with CFTC Over Its GlobalCoin Initiative
Facebook is in talks with the U.S CFTC to find out whether its GlobalCoin project will fall under the agency’s regulatory requirements.
Facebook Started Discussions with CFTC Over Its GlobalCoin Initiative

Continue reading at Coinspeaker
Source: CoinSpeaker

What You Must Know Before You Start Your Crypto Margin Trading

Coinspeaker
What You Must Know Before You Start Your Crypto Margin Trading
In this article, we will outline the characteristics of margin trading and more importantly the best exchanges where you can get into this type of trading using your favorite cryptocurrency.
What You Must Know Before You Start Your Crypto Margin Trading

Continue reading at Coinspeaker
Source: CoinSpeaker

Why IEOs Might Drive New Investors to the Crypto Market

Coinspeaker
Why IEOs Might Drive New Investors to the Crypto Market
In this article, we will be exploring the main reasons why IEOs may, in fact, drive a flock of new investors into the crypto market.
Why IEOs Might Drive New Investors to the Crypto Market

Continue reading at Coinspeaker
Source: CoinSpeaker

Kraken Arbitrage Opportunity increases by 5% Following Tether-induced Market Crash

As Bitfinex and Tether faced a lawsuit with charges of price manipulation, Tether and indeed the entire cryptocurrency market went on a downward trend that affected prices for a number of days. As the market recovered, Tether has also recovered with an increasing price that presented an opportunity to trade on Kraken for some quick profits. According to Diar, trading opportunity increased by 5% on Kraken during the comeback.
The Tether Fiasco
Tether USDT Price chart | Source: coinmarketcap.com
Towards the end of April, the attorney general of New York filed a case against Tether and Bitfinex Exchange which is operated by Tether owners. The suit alleged that Bitfinex used USDT to the tune of $850 million to cover up fund loss on the exchange. This did not only affect Bitfinex and Tether but the entire cryptocurrency market. on the 26 April, CoinDesk reported that USDT pegged the price of $1 fell to $0.955. In fact, the crypto market lost $10 billion in one day due to the lawsuit.
Kraken presents opportunities
Tether has since recovered to its pegged price of $1 as the market also recovered with Bitcoin pushing to break through $6,000. During the recovery process which took over 10 days, the market presented a rare trading opportunity on Kraken which has a much larger trading volume of over $170 million than OKCoin which has just about $5 million, as these are the only exchanges that support USDT/BTC trading pair.
Also Read: Coinmarketcap Excludes Bitfinex’s Bitcoin Price from Average Calculation
The Kraken opportunity did not last though and may be officially over as USDT is back to its pegged price of $1. The unique trading opportunity with USDT was due to other major stablecoins being in the green even as other cryptocurrencies crashed alongside Tether as reported by CoinDesk. Those major stablecoins are however in the reds at press time. A switch from Bitfinex to Kraken showed a consistently increasing profit from $58 on 25 April to $268 on 5 May as reported by Diar in its latest volume yesterday 6 May.
The post Kraken Arbitrage Opportunity increases by 5% Following Tether-induced Market Crash appeared first on Coingape.
Source: CoinGape

Paxos is All Set to Issue $100 Million of PAX Stablecoins on Ontology Blockchain

Coinspeaker
Paxos is All Set to Issue $100 Million of PAX Stablecoins on Ontology Blockchain
Paxos Standard (PAX) stablecoin is to become available on the Ontology’s blockchain network in May to facilitate fiat transactions.
Paxos is All Set to Issue $100 Million of PAX Stablecoins on Ontology Blockchain

Continue reading at Coinspeaker
Source: CoinSpeaker

5 Assets Moving Towards Tokenization in Financial Industry

Coinspeaker
5 Assets Moving Towards Tokenization in Financial Industry
While the crypto-world is talking about the tokenization of everything, it’s worth knowing which assets can be tokenized best. Siddarth S, Product & Marketing Strategist from Blockchain App Factory, shares the list of five of them.
5 Assets Moving Towards Tokenization in Financial Industry

Continue reading at Coinspeaker
Source: CoinSpeaker