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September 2017

Coinbase Strengthens Crypto Custodian Empire with XapoBusiness Acquisition

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Coinbase

Coinbase

Coinbase has risen to become the largest cryptocurrency custodian, with the acquisition of Xapo’s institutional business. Immediate reports indicate that the US crypto exchange paid $55 million for the assets in question. The exchange also reportedly beat investment giant Fidelity that was also in the running for the Xapo business.

The acquisition comes at a time when Coinbase’s custodian business has grown to over $7 billion in assets under custody. Coinbase currently services over 120 clients distributed in over 14 countries. Following the acquisition, a number of Xapo’s clients have already moved their crypto assets to the crypto exchange for storage. As it stands, Coinbase stands to store as much as 514,000 in Bitcoin from Xapo customers.

“From the start, our goal has been to build a trusted foundation for institutional investment in Bitcoin (BTC) and crypto assets in general. We’re thrilled to help enable some of the tremendous demand for this emerging asset class,” the exchange said in a statement.

 Xapo-Coinbase Integration

Xapo’s business is a great addition to the Coinbase portfolio, as the firm has risen in the ranks to become a pioneer in crypto assets storage. Xapo has also made a name for itself in the creation of security techniques highly needed in ensuring client privacy.

>> Altcoins Almost Wiped Out as Crypto Market Cap Drops $30 Billion

For Coinbase, the acquisition underscores its focus in achieving growth both organically and inorganically. The company has grown on its mission to try and ensure easy and secure access to cryptocurrencies. With the acquisition of Xapo’s business, the firm strengthens its edge in becoming the gateway for millions of people looking for ways to venture into the cryptocurrency sector.

Providing clients peace of mind about crypto safe storage is Coinbase’s primary goal as it continues to affirm its competitive edge in the burgeoning sector. In addition to providing crypto custodian services, Coinbase is also focused on providing new ways of monetizing and leveraging crypto assets. The company currently allows people to borrow against their crypto portfolios as well as lend to other trusted partners.

Featured image: DepositPhotos © Piter2121

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uBUCK Technologies Signs Definitive Commercial Agreement with Datable Technology Corp.

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VANCOUVER, British Columbia, Sept. 12, 2019 (GLOBE NEWSWIRE) – LiteLink Technologies Inc. (“LiteLink”)(CSE:LLT) (OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to announce that its wholly-owned subsidiary uBUCK Technologies SEZC (“uBUCK”) has signed a definitive commercial agreement with Datable Technology Corp. (“Datable”).

Datable provides consumers of Fortune 500 brands with access to over 300 digital gift cards from leading companies including Starbucks, Walmart, and Target. The partnership with uBUCK provides Datable with a unique and flexible cash card offering that it’s brand customers are looking to provide to consumers as rewards for engagement. PLATFORM³ allows consumer brands to reward consumers for purchasing, viewing content, sharing content via social media, referring friends and completing surveys.

The strategic relationship will provide uBUCK with access to Datable’s proprietary rewards platform, allowing customers to earn rewards for payments and purchases made within uBUCK Pay digital wallet or on their uBUCK Mastercard from anywhere in the world. At the same time, Datable will integrate the uBUCK prepaid credit cards into its reward portals for consumers to purchase with their points on Datable’s client’s portals. This strategic relationship benefits both companies in strengthening their market offerings.

“We are very excited to take our strategic relationship with Datable to the next level, which we believe will result in immediate growth of the uBUCK Pay platform,” said James Youn, CEO of uBUCK. “Datable stands out in our eyes as the #1 Rewards platform on the market, as it continues to sign up well-known brands and expand its offerings. Now uBUCK is going to be a part of that and potentially gain access to millions of new users.”

During Phase I, Datable will create a loyalty program and user portal where points will be tracked for every dollar spent as well as a rewards program where points can be redeemed for uBUCK. Datable will offer instant redemption for loyalty to uBUCK customers.

“We have proven that PLATFORM³ delivers value to leading consumer brands and consumers, the uBUCK partnership is a new source of transaction-based revenues for Datable,” 

said Datable CEO Robert Craig. 

“In 2019, Datable is launching new products and applications leveraging the opt-in personally identifiable information that PLATFORM³ technology collects to generate new transaction-based revenues.”

 

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, its online payments platform and pin voucher solution, offers consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payments. Customers can purchase pin vouchers within the uBUCK Pay app or at participating resellers. For details about uBUCK Pay, please visit uBUCKpay.com.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”)(CSE:LLT) (OTC:LLNKF)(FRA:C0Bis 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.

About Datable Technology Corp.

Datable Technology Corp. 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. 

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 visit the company’s website at litelinktech.com. For a free report on LiteLink Technologies Inc. (“LiteLink”)(CSE:LLT) (OTC:LLNKF)(FRA:C0B) visit cryptocurrencynews.com.

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BitTorrent Token (BTT) to Power Expedited File Sharing on TRON Network

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BitTorrent

BitTorrent

BitTorrent Token (BTT) has taken a significant hit in recent weeks after hitting peak levels in May. While a crash to new lows against Bitcoin (BTC) is a point of concern, the software company behind the token is already looking into the future.

BitTorrent Speed

The TRON subsidiary has launched BitTorrent Speed, a new crypto powered approach designed to enhance peer-to-peer file sharing. The speedy software seeks to scale up upload and download speeds within the TRON network.

Millions of users stand to enjoy fast and uninterrupted access to files on the network with BitTorrent Speed. Users also stand to be rewarded for any activity carried out on the network with BitTorrent Token.

In a press release, BitTorrent notes that users should expect fast systems that can allow the downloading of tons of megabytes in a split second. In addition to enabling fast downloads, the new software will also help make downloads readily available.

The unveiling of BitTorrent Speed marks an important milestone as part of the BitTorrent and TRON network partnership. The two came together with the ultimate goal of scaling up browsing time on the web. This marks an important step towards creating the largest blockchain-based app to support fast downloads and uploads.

>> Litecoin (LTC) and Bitcoin Cash (BCH) Tumble on Massive Crypto Sell-Off

BTT Token

The unveiling of the new software should help ramp up support for the BTT Token, which is the native cryptocurrency for the network and key to faster downloads.

“Something I have noticed is the $BTT Reddit is filled with discussion about the utilization of the technology from real-world users, not talk on trading. It cannot be denied that this coin has the potential for the most significant mass adoption we have ever seen. #Bittorrent,” said crypto trader Jasper.

While the crypto-coin has come under pressure in recent months, there are plans to distribute the token through a series of airdrops as well as through the BitTorrent ecosystem. Currently, there are about 21% of BitTorrent tokens in circulation in the market.

Featured image: DepositPhotos © kentoh

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Libra Will Not Hit the Market Without US Approval, Says Zuckerberg

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Libra

Libra

The crypto sphere is known for being a disruptive force, but even this sector got a disruptive jolt of its own when Facebook (NASDAQ:FB) announced it would be launching its own cryptocurrency, Libra, in 2020. However, ever since the company announced the launch of its own stablecoin, it has come under fire from regulators from all over the world.

Major Setback?

As a matter of fact, even the United States President slammed the project and asked the company to instead apply for a banking license. It has now emerged that Mark Zuckerberg is going to tell the US Congress that the company is going to delay the eventual launch of the cryptocurrency.

The project has come under intense pressure from lawmakers, regulators, and even other companies that had initially agreed to participate in the project. Recently, some of the big names like PayPal (NASDAQ:PYPL) have decided to exit the project altogether, and the whole thing is looking quite grim for Facebook. Mark Zuckerberg seems to have conceded that the backlash against Libra is currently too strong, and hence, it would be better if the company delayed the launch altogether. In the statement, the Facebook founder wrote, “I believe this is something that needs to get built, but I understand we’re not the ideal messenger right now.”

>> Ripple Boosts Regulatory Focus With Opening of DC Office

The company had announced its very own cryptocurrency at the height of the crypto rally this year in 2019 and had scheduled the launch at some point in 2020. After the regulatory issues were raised by officials in the different parts of the world, the company stated that it was willing to wait until all issues are solved and launch the stablecoin afterward.

While it is true that the company may have explored the idea of a delayed launch in the past, the Libra project seems to now have reached an impasse from which Facebook is struggling to recover.

Featured image: DepositPhotos © gustavofrazao

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