EToro Blockchain Division Launches Crypto Exchange for Pro Traders, Issues 8 Stablecoins

EToro Blockchain Division Launches Crypto Exchange for Pro Traders, Issues 8 Stablecoins

The blockchain division of global social trading platform eToro has launched a cryptocurrency exchange for pro traders, a press release shared with Cointelegraph on Tuesday, April 16, states. EToroX claims to be a secure a secure and fully regulated trading venue. As for now, the platform offers 37 trading pairs, with the ability to convert six cryptocurrencies to fiat, such as the dollar, euro and Swiss franc. The exchange currently allows users to trade bitcoin (BTC), ethereum (ETH), ripple (XRP), dash (DASH), bitcoin cash (BCH) and litecoin (LTC). According to the managing director of eToroX, Doron Rosenblum, the exchange will launch more pairs in coming months. Moreover, eToroX has launched eight stablecoins that are backed by the New Zealand dollar (NZDX), Japanese yen (JPYX), Swiss franc (CHFX), United States dollar (USDEX), euro (EURX), U.K. pound sterling (GBPX), Australian dollar (AUDX), and Canadian dollar (CADX). The stablecoins will be issued and controlled by eToroX. Co-founder and CEO of eToro, Yoni Assia, said that the platform is set to bring crypto to a larger range of investors: “We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance. Blockchain will eventually ‘eat’ traditional financial services through tokenization.” Assia believes that financial services will eventually be transferred to blockchain, as the tech brings a new paradigm for asset ownership. According to him, traditional asset classes such as art and property will also be tokenized. In March, eToro officially launched its platform and crypto asset wallet in the U.S. Later the same month, the company announced that it has acquired smart contracts development company Firmo in order to explore and add more tokenized assets. In other stablecoin news, Canadian cryptocurrency exchange Coinsquare has recently announced that it will be launching a Canadian dollar-backed stablecoin. Meanwhile, billionaire VC investor Tim Draper is reportedly planning to meet with Facebook execs to discuss investing in the social media outlet’s rumored FB Coin.

SBI Delists BCH Amid Major Crypto Exchanges Delisting BSV

SBI Delists BCH Amid Major Crypto Exchanges Delisting BSV

This article has been updated to specify that SBI Holdings has made an announcement about the delisting of BCH, and not mentioned listing BSV. Japanese financial services giant SBI Holdings will delist bitcoin cash (BCH) from its virtual currency exchange in June 2019, Cointelegraph Japan reports on April 16. SBI Virtual Currencies has now officially announced its plans to delist bitcoin cash — a cryptocurrency created from a hard fork of bitcoin (BTC). Bitcoin cash is the first hard fork of the major cryptocurrency, created in August 2017. In turn, bitcoin SV is a hard fork version of bitcoin cash, and is led by self-proclaimed creator of bitcoin, Craig Wright. The move comes amid news of several major crypto trading platforms delisting BSV. Yesterday, top exchange Binance officially announced it will delist BSV and cease trading on all trading pairs for BSV as of April 22. Binance’s delisting followed arguments in the crypto community, with Binance CEO Changpeng Zhao (CZ) having warned that he will delist bitcoin SV if Wright does not stop claiming that he is the real Satoshi Nakamoto. In response, the crypto community on Twitter has reacted to CZ’s warning by asking various exchanges to delist BSV and launching a #DelistBSV hashtag. Yoshitaka Kitao, CEO and representative director of SBI Holdings, has previously criticized bitcoin cash’s hard fork, which took place in November 2018. As Cointelegraph reported, Kitao apparently has a connection with the BSV founder, with Wright having revealed their close relationship in a tweet in January, demonstrating that he and Kitao spent time together, and claiming that he treats Kitao as “a friend and man I respect a lot.” At press time, bitcoin cash, the fifth-top cryptocurrency by market cap, is up 5.5% over the past 24 hours, trading at $314, while BSV has dropped more than 21% on the day, trading at $55, according to data from CoinMarketCap.

Auditor EY Unveils Nightfall, An Ambitious Bid to Bring Business to Ethereum

Auditor EY Unveils Nightfall, An Ambitious Bid to Bring Business to Ethereum

Big Four professional services firm EY is rolling out free software designed to help corporate clients use the ethereum blockchain – and it’s taken an unusual step to encourage adoption. Announced Tuesday, EY’s Nightfall protocol has been developed over the last year by the consulting firm’s team of over 200 blockchain developers and will be published in May. The protocol was created for such use cases as supply chains, food tracing, transactions between branches of a company and public finance. Like other enterprise blockchain platforms, Nightfall takes advantage of a technology called zero-knowledge proofs to allow private transactions on a shared ledger. But unlike most such endeavors, EY’s software is intended to run on top of the public ethereum network, not a private variant. Further setting the project apart is the unusual approach EY is taking to intellectual property. The firm said it will not merely open-source the code – that is, release it with a permissive copyright license – but put it in the public domain, with no license at all. “We want to maximize adoption and community involvement, we want people to adopt it, and adapt it, and improve it. If we retain ownership, people may not invest that much time and energy in something they might not control,” EY’s global innovation leader for blockchain, Paul Brody, explained at a press briefing. “The cleanest way to make everybody use it is just to give it away with no strings attached.” Nevertheless, Brody suggested this was a difficult decision, telling reporters: “A year of coding work. This is a million dollars worth of stuff we’re giving away.” A fine distinction Stepping back, “open source” and “public domain” are not synonymous. “The terms are often used interchangeably. Legally, however, they mean different things,” said Preston Byrne, a partner at the law firm of Byrne & Storm. Open-source, while it allows software to be used without paying royalties, means the author retains copyright and can, in theory, revoke or change the license, although “I haven’t seen this happen in crypto even once, given that the ability to inspect the code and play around with it is a key selling proposition for protocol adoption,” Byrne said. Public domain, on the other hand, involves a waiver of copyright. This is…

Review: BC Vault Is an Unorthodox Hardware Wallet With a Random Key Generator

Review: BC Vault Is an Unorthodox Hardware Wallet With a Random Key Generator

One of the biggest responsibilities of cryptocurrency owners is safely storing their digital assets. Over the last few years, hardware wallets have become an extremely convenient security solution that has helped in this regard. The BC Vault is a new hardware device with a number of distinctive features. Also read: The Struggle to Buy Bitcoin in Crypto-Starved Botswana The BC Vault Isn’t Like All the Rest The BC Vault (short for Blockchain Vault) is a new hardware wallet that was designed by a Slovenia-based firm called Real Security Inc. Its creators believe that the BC Vault is “the safest way to store your cryptocurrencies,” refusing to even refer to the gadget as a wallet. “Wallets are for pocket money and vaults are for safekeeping,” Real Security asserts. The BC Vault costs $155 plus VAT for EU customers and the firm will ship to customers around the world. My BC Vault arrived this weekend in a box sealed with tamper-resistant holographic tape which I removed after inspection with a pocket knife. Both the box and the device itself are sealed with tamper-resistant holographic tape. Inside the box is a piece of paper that explains the BC Vault setup process and the device itself which sits in a foam enclosure. Under the device is a few stickers and a long USB cord to attach the BC Vault to a computer. One end of the cord is a traditional USB insert, but the other side of the cord that fits into the device itself is the new USB-C standard. The machine is similar in size to the Keepkey wallet but has a four-way control pad and a 2.42 inch OLED screen. The USB connection is also taped over with tamper-resistant tape which needs to be peeled off gently. The D-pad reminded me of an old Sega Genesis controller. The USB-C cord, as is customary with devices of this nature, needs to be inserted with a forceful push. BC Vault uses a global password and PIN. It was after plugging the BC Vault in that I observed just how different the device is compared to other hardware wallets. This is because the BC Vault generates each wallet with a random number generator (RNG) which uses an integrated gyro sensor.…

UK Blockchain Startup Raises $3.9M With Equity Tokens Via LSE’s Turquoise Test Platform

UK Blockchain Startup Raises $3.9M With Equity Tokens Via LSE’s Turquoise Test Platform

This article has been corrected to reflect that the money raised was in collaboration with the Turquoise platform in a test environment, and not on the LSE’s Turquoise platform itself. United Kingdom-based blockchain startup 2030.io has raised $3.9 million in collaboration with a platform owned by the London Stock Exchange (LSE), according to a press release shared with Cointelegraph on April 15. Known as Twenty Thirty or 20|30, the startup has reportedly secured 3 million British pounds (GBP) by selling tokenized shares and settling them in a test environment on LSE-owned equity trading platform Turquoise. In July 2018, 20|30 became one of 29 firms that were approved by the Financial Conduct Authority (FCA) to start testing within its fourth cohort of a regulatory sandbox. With FCA approval, 20|30 became authorized to issue equity tokens on the Ethereum (ETH) blockchain, with the firm announcing that LSE’s Turquoise will be the first platform to test the pilot settlement of its tokenized shares. According to the recent report, the trial has been carried out successfully, using “real cash money.” Tomer Sofinzon, Twenty Thirty’s co-founder and chief risk officer, said that the company further plans to offer secondary transfers, and “work our way up the ‘capital stack’ to reinvent private equity and public markets.” Recently, Thailand’s National Legislative Assembly officially allowed the issuance of tokenized securities on a blockchain, with the government planning to amend the Securities and Exchange Act with relevant laws in 2019.

ConsenSys Pitch Deck Forecasts $100 Million Burn Rate for 2019

ConsenSys Pitch Deck Forecasts $100 Million Burn Rate for 2019

ConsenSys believes it can become a valuable company, provided it can get through the next year. As The Information first reported Monday, the company is seeking approximately $200 million in new investment. However, ConsenSys also projects $152 million in expenses in 2019, with $52 million in revenue, for an estimated $100 million cash burn, according to an investor deck obtained by CoinDesk. The company is pitching itself to investors as a combination of three significant assets: equity in roughly 134 projects or companies, token holdings from major initial coin offerings and internal operations with significant long-term revenue potential. With additional funding, ConsenSys expects to do the following through 2020: launch at least 10 blockchain networks, grow revenue to $100 million per year, tokenize 30 percent of activities in its so-called “mesh” of projects and help the ethereum community deliver its 2.0 upgrade. ConsenSys 2.0.1 As CoinDesk reported last year, the company went through a major restructuring in order to focus more on businesses with revenue potential. This year’s slide deck gives some clarity about what the company is currently emphasizing. “ConsenSys is building the products, platforms and companies to enable the tokenization of the $80 trillion global economy,” the slide deck reports in its first pages. The deck describes the ConsenSys product strategy as comprising four “interconnected layers:” open platforms, the future of work, decentralized finance (DeFi) and Web 3.0. It highlights several companies at each layer, including Grid+ and Gnosis, as open platforms; OpenLaw and Gitcoin, as the future of work; Trustology and ConsenSys Digital Securities, as decentralized finance (DeFi); and Kaleido and uPort, as Web 3.0. A slide from the ConsenSys pitch deck. Beyond those, the document says ConsenSys Labs has incubated 82 projects, its accelerator has worked with 27 and the company has directly invested in 35 companies between ConsenSys Ventures and ConsenSys AG. Of all the projects, the deck places the most emphasis on four: PegaSys, Truffle, Infura and MetaMask. It describes PegaSys as infrastructure for enterprise ethereum and ethereum 2.0, with a team size of 60 people. Infura is infrastructure-as-a-service for ethereum, with a team size of 18. Truffle is described as the ethereum development environment, with a team size of 20. Finally, MetaMask is a simple browser extension for…

Startup Arca Seeks SEC Approval for US Treasury Bond-Backed Stablecoin

Startup Arca Seeks SEC Approval for US Treasury Bond-Backed Stablecoin

Arca is seeking regulatory approval to sell a new type of stablecoin to retail investors. The Los Angeles-based digital asset manager filed a prospectus with the Securities and Exchange Commission (SEC) Friday for a bond fund whose shares would be tokenized on the ethereum blockchain.  Arca hopes the SEC will approve the product later this year, a spokesperson said. The Arca U.S. Treasury Fund would be available to the general public, but not traded on any stock exchange or alternative trading system, according to the filing. However, shares in the fund (referred to as “Arca UST Coins”) would be represented as ERC-20 tokens, which run on top of ethereum. And Arca is framing the product as a form of stablecoin, or cryptocurrency designed to maintain parity with a traditional asset like the U.S. dollar, although the company cautioned that it may be slightly less stable than other such products on the market. The minimum investment in the fund would be $1,000, with a target net asset value (NAV) of $1 per share. At least 80 percent of the fund would be invested in U.S. Treasury securities, with the rest in debt issued by various public or private entities inside and outside the U.S. “It is therefore anticipated that the underlying portfolio, and the NAV of Arca UST Coins, will have relatively little volatility,” the document says. “Accordingly, although holders of Arca UST Coins could experience greater NAV volatility compared to typical stablecoins, such volatility will be relatively limited.” Investors would receive quarterly dividends from the interest payments, according to the prospectus, although the fund’s “investment objective is to seek maximum total return consistent with preservation of capital.” In other words, stable value rather than big profits. To buy shares from the fund or from another investor, traders “must first establish a wallet address through the Arca application and ensure that it is whitelisted with the Transfer Agent,” according to the prospectus. “Once an investor’s wallet address is whitelisted, the investor can use the Arca application to transfer money from a linked bank account to the Fund in return for shares of the Fund.” It is not clear how many of these purportedly dollar-pegged tokens Arca aims to sell; the prospectus says the offering would need…

CoinMarketCap Releases New Mobile App Version With User Accounts, Price Alerts

CoinMarketCap Releases New Mobile App Version With User Accounts, Price Alerts

Crypto data tracker CoinMarketCap has released a new version of its app for iOS and its first Android app today, April 16, with added features for price tracking and user accounts. According to the website, the mobile app will include candlestick charts, daily historical open-high-low-close chart data and the option for setting price alerts on all cryptocurrencies available on CoinMarketCap. In order to use the app, users will have to make a CoinMarketCap account and log in. The app will also allow users to follow news from various media outlets, as well as compare cryptocurrency prices with other cryptos. Last August, CoinMarketCap had launched a professional, paid API targeting developers and funds, which tracks crypto-based derivatives markets, with support for futures, options and over-the-counter exchanges for a monthly fee. In March, the crypto data tracker announced that they would be releasing two crypto benchmark indices on the Nasdaq Global Index Data Service, Bloomberg Terminal, Thomson Reuters Eikon and Börse Stuttgart. Also this year, CoinMarketCap noted that it would be altering its listing metrics for cryptocurrency exchanges following research that claimed most of the exchange data was faked. The first iOS app from CoinMarketCap was launched last May in honor of the site’s fifth birthday. At the time, the site was ranked 175th in the world for most trafficked sites: the current ranking as of April 26 is 482th.

Research: Cryptocurrency Exchange Binance Registered 66% Profit Increase in Q1 2019

Research: Cryptocurrency Exchange Binance Registered 66% Profit Increase in Q1 2019

Major cryptocurrency exchange Binance reported $78 million in profits in Q1 2019, up 66% compared to the previous quarter, cryptocurrency news outlet The Block reports on April 16. The claims have been extrapolated by The Block from Binance’s seventh quarterly binance coin (BNB) burn data. Per the report, the 830,000 BNB burned represent 20% of the exchange’s net profits in the first quarter of this year. The Block notes that this allows for easy deduction of the company’s profits, even though Binance does not release financial reports. The report also notes that in Q4 of last year, the company received about $47 million in net profit. Binance Coin is currently the seventh-biggest cryptocurrency by market cap, according to CoinMarketCap data, and reported a loss of nearly one and a half of a percent on the day to press time. According to a post on Binance’s blog, the company has burned 5.82% of the total BNB supply so far. Recently, a Binance researcher suggested that bitcoin (BTC) and altcoin prices could have already hit their lowest point. As Cointelegraph reported last week, the annual losses of South Korean crypto exchange Bithumb for 2018 totalled almost $180 million.

SBI Delists BCH and Keeps BSV Amid Major Crypto Exchanges Delisting BSV

SBI Delists BCH and Keeps BSV Amid Major Crypto Exchanges Delisting BSV

Japanese financial services giant SBI Holdings will delist bitcoin cash (BCH) from its virtual currency exchange in June 2019, Cointelegraph Japan reports on April 16. SBI Virtual Currencies has now officially announced its plans to delist bitcoin cash, while keeping support for bitcoin satoshi vision (BSV) — a cryptocurrency created from a hard fork of bitcoin cash. Bitcoin cash is the first hard fork of major cryptocurrency bitcoin (BTC), which was created in August 2017. In turn, bitcoin SV is a hard fork version of bitcoin cash, and is led by self-proclaimed creator of bitcoin, Craig Wright. The move comes amid news of several major crypto trading platforms delisting BSV. Yesterday, top exchange Binance officially announced it will delist BSV and cease trading on all trading pairs for BSV as of April 22. Binance’s delisting followed arguments in the crypto community, with Binance CEO Changpeng Zhao (CZ) having warned that he will delist bitcoin SV if Wright does not stop claiming that he is the real Satoshi Nakamoto. In response, the crypto community on Twitter has reacted to CZ’s warning by asking various exchanges to delist BSV and launching a #DelistBSV hashtag. Yoshitaka Kitao, CEO and representative director of SBI Holdings, has previously criticized bitcoin cash’s hard fork, which took place in November 2018. As Cointelegraph reported, Kitao apparently has a connection with the BSV founder, with Wright having revealed their close relationship in a tweet in January, demonstrating that he and Kitao spent time together, and claiming that he treats Kitao as “a friend and man I respect a lot.” At press time, bitcoin cash, the fifth-top cryptocurrency by market cap, is up 5.5% over the past 24 hours, trading at $314, while BSV has dropped more than 21% on the day, trading at $55, according to data from CoinMarketCap.