Source for BlockChain News

Monthly archive

May 2016

Coinbase to Offer Tezos Staking to US Consumers

by
Coinbase

Coinbase

While it is true that the crypto space has grown at a breathtaking pace over the past few years in the United States, it should be noted that it would not have been possible without the stellar service provided by crypto exchanges like Coinbase. Over the years, the exchange has provided crypto enthusiasts, investors, and traders with a world-class platform.

Key Details

In a new development, it has emerged that Coinbase users will now be able to stake the cryptocurrency Tezos on the platform. The announcement was made on Tuesday by the company, and it is definitely a significant development.

The announcement was made by Coinbase in a medium post yesterday, and in the concerned post, the company stated that users who hold Tezos will now be able to get staking rewards. It is a highly important development since it creates an incentive for investors who are prepared to stay in the crypto market for the long term.

Due to the existence of rewards, Tezos (XTZ) holders will now be rewarded with interest on the tokens that they own and hold on the platform.

The interest will be paid out in XTZ. It should be noted that the service has already been launched in the institutional platform maintained by the company named Coinbase Custody. The service was rolled out earlier this year in March.

>> uBUCK Signs Strategic Alliance Agreement with Deltec Bank & Trust

At the time, Tezos co-founder Kathleen Bretmen said, “The launch of Tezos staking through Coinbase Custody serves an acute need that existed up until now: a way for institutional participants who rely on a secure, offline custodian to take an active role in the network.” Coinbase users will now be earning a staking reward of 5% on their holdings over a period of 35 to 40 days.

Featured image: DepositPhotos © Piter2121

If You Liked This Article Click To Share

CME Bitcoin Options Eclipses Bakkt With a Strong Start

by
CME

CME

CME Group’s Bitcoin options got off to a good start this week with US$2.3 million traded on the first day, eclipsing the slow start made by rival exchange Bakkt.

The Chicago Mercantile Exchange (CME) launched its highly anticipated Bitcoin (BTC) options on Monday, with 55 contracts changing hands on the first day alone. An options contract represents a right, but not an obligation, to purchase one Bitcoin futures contract, which represents 5 BTC or approximately US$2.3 million at its current value.

CME is a direct rival of Bakkt, a crypto trading platform launched by the parent company of the New York Stock Exchange, the Intercontinental Exchange (ICE). Bakkt was one of the most anticipated arrivals in the crypto space in 2019, having been touted as an access point for institutional investors to the world of crypto. However, things didn’t go quite to plan for Bakkt, as trading volumes fell well short of expectations, with just 623 contracts being exchanged in the first week of launch.

“Successful options products require a robust, liquid underlying futures market, our CME Bitcoin futures have rapidly evolved over the last two years to become one of the most liquid, listed bitcoin derivatives products in the world, averaging nearly 6,400 contracts (equivalent to 31,850 bitcoin) traded each day in 2019,” Tim McCourt, managing director at CME Group, wrote in a LinkedIn post.

The strong debut of CME’s options contracts coincides with Bitcoin’s best start to a new year since 2012. On Tuesday, the world’s leading cryptocurrency hit a two-month high of US$8,745, rocketing 8% in just under 24 hours. While the considerable interest in the multiple futures products now available to investors likely played a part in those gains, renowned BTC trader Murad Mahmudov said a combination of price, volume, and open interest in the crypto space are likely to signal a further bull run.

>> Bitcoin SV Soars on Rumors: Will the Real Nakamoto Please Stand Up?

However, a single day of trading is not enough to truly gauge the future performance of CME’s options trading, and the first weeks and months will provide a clearer picture of the state of the new Bitcoin options market.

Featured Image: DepositPhotos © grejak

If You Liked This Article Click To Share

Regulators Discuss Cryptocurrency Legislation Ahead of G20 Summit

by
G20 summit

G20 summit

The cryptocurrency regulation debate is expected to be at the center of the upcoming G20 summit where representatives from various countries will evaluate the new legal action course that has been proposed by the International Financial Action Task Force. The FATF is expected to release the proposals for new international standards governing cryptocurrency business on June 21.

Blockchain Representatives at G20 Event

The summit has the support of legislators and it is expected to have on board Virtual Asset Service Providers (VASP) as well as national blockchain associations. This summit will run concurrently with the G20 summit that is scheduled between June 28 and June 29 in Osaka, Japan. It seems almost like a step forward that the summit is held in Japan, which is currently the only country with a legal framework for regulating cryptocurrencies.

The FATF standards for cryptocurrency have high hopes amongst legislators, and the main focus is the impact of crypto on lasting financial security challenges. Japanese Congressman Naokazu Takemoto addressed the subject, stating that the VASP industry sees the significance of having clear regulation to prevent financial crimes as well as mitigate issues to do with corruption. Some of the latest regulations include measures to tighten the restrictions regarding predictive trade as well as new regulations for exchanges like having a cryptocurrency protection fund.

>> Is Cryptocurrency the Future of Advertising? How Brave Wants to Use Data

Too Much Regulation Might Backfire

Although there is a consensus from regulators regarding having regulations to control the industry, too much of it might backfire. Roger Wilkins, former FTAF president, warns that the new regulations could potentially push out the public from controlled platforms. Wilkins said that there is a possibility of the rules having a different effect than the original intention, which could potentially force cryptocurrency transactions from the controlled platforms.

Countries like South Korea, China, Singapore, Australia, and the United Kingdom are expected to have blockchain association representatives at the G20 summit to review the standard. The blockchain industry is waiting to see whether the international body will oppress them.

Featured image: DepositPhotos © kasto

If You Liked This Article Click To Share

uBUCK and Datable Incorporate Streambucks into Strategic Commercial Relationship uBUCK and Datable Incorporate Streambucks into Strategic Commercial Relationship

by

VANCOUVER, British Columbia, June 26, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B)(OTC:LLNKF), a leader in digital logistics and payment solutions, is pleased to provide an update on a strategic commercial relationship (dated May 5, 2019) between its wholly owned subsidiary uBUCK Technologies SEZC (“uBUCK”) and Datable Technology Corp. (TSXV:DAC) (OTC:TTMZF) (“Datable”).

Under the terms of the letter of intent (the “LOI”) with Datable, uBUCK will integrate Datable’s loyalty and reward program PLATFORM³ into uBUCK’s digital payments platform.  This new integration into uBUCK will allow uBUCK Pay account holders to earn rewards for purchases and payments made within the uBUCK Pay digital wallet or on their uBUCK Mastercard.  With this new feature, uBUCK users will be able to make online payments, send worldwide free payment transfers, and now earn real rewards simply for using uBUCK.

In addition to the strategic relationship set out in the LOI, Datable and uBUCK will cooperate to develop digital payments and loyalty solutions for the eSports industry by integrating uBUCK’s Streambucks digital payments solution with PLATFORM³.  uBUCK and Datable will share transaction fee revenue from the convenience fees charged for uBUCK pin vouchers and debit card transactions.

“We are very excited to integrate Streambucks with Datable’s PLATFORM³ to offer rewards to gamers and fans across the eSports industry, which is now bigger than Hollywood,” said uBUCK CEO James Youn.  “Datable has continued to sign-up well-known brands and proven itself as the number one rewards program on the market. We look forward to being part of their cash card offering and gaining new client referrals through our partnership.”

The terms of the LOI also stipulate that the uBUCK prepaid credit card will be featured as a reward for consumers to purchase with their points on Datable’s client portals.

About uBUCK Technologies SEZC

Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in decentralized digital payments and wallets. uBUCK Pay and Streambucks are P2P payment platforms offering consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payment methods. uBUCK and Streambucks are stable utility tokens that are backed by the U.S. dollar via pin voucher purchases within the uBUCK Pay app or at participating resellers. Customers may load a uBUCK debit card and make online and offline purchases and send payments around the world for free.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B)(OTC:LLNKF)is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries.  Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. uBUCK Pay is a multi-currency digital wallet that supports traditional fiat and digital currencies.  Consumers are able to make online and offline purchases using the uBUCK debit card and send funds worldwide for free. 

About Datable Technology Corp.

DTC has developed a proprietary, mobile-based consumer marketing platform – PLATFORM³ – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. PLATFORM³ is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM³ incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behavior, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.

Forward-Looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.  LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations. 

Please See Disclaimer

If You Liked This Article Click To Share

Go to Top