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XFers And Zilliqa Partner To Jointly Launch StratisX Stablecoin

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xFers and Zilliqa partnered and now they aim to launch a stablecoin called StratisX which will be pegged to the Singaporean Dollar and will be available from December 2019. Let’s find out more about this project in the altcoin news today.

Xfers is a fin-tech company from Singapore that is focusing on online financial services such as payment transactions. It provides a transparent infrastructure that is also more secure for all sorts of businesses. By partnering with the popular blockchain platform Zilliqa and by launching the StratisX stablecoin, the fin-tech company aims to contribute to a more open financial ecosystem within Southeast Asia. The product will be launched in December this year and will be pegged to the Singaporean dollar. The CEO Tainwei Liu commented:

“StraitsX demonstrates our willingness to adopt technology to propel our vision of building an open banking infrastructure for the region. With the transparency that blockchain provides, as well as the stablecoins being price-pegged to local fiat currencies, StraitsX aims to be a common ledger for digital assets, payments, fund transfers, and e-commerce.”

The project will also receive the support of other major companies including Binance Singapore, CoinHako, WoWoo Exchange and Sparrow. Xfers and Zilliqa will be backed by the co-founder of Facebook Eduardo Saverin who is on the list of the richest people of Brazil which provides additional confidence in the intentions of the project.

The southeast Asian region has more than 630 million people in it and the adoption of digital banking services dramatically increased over the last few years but it still has a lot of room to grow. The reports show that a total mobile connectivity rate of 133 percent, only 26 percent have a bank account at the moment. However, the partnership between the two companies will also explore blockchain payments.

According to the CO of Xfers, the idea behind the partnership was to ‘’implement distributed ledger technology in our payments engine to increase transparency and to cost-efficiently scale up our transactions.’’ The banking partners will also be able to audit client funds by using Xfers’s wallet stored value facility on an everyday basis. It will also affect the regulators by allowing them to view the transaction statistics on the DLT.

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Banking Giant RBC Will Offer Customers Crypto Trading Options

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According to a report from The Logic, The Royal Bank of Canada, the popular Banking giant RBC that has more than 16 million clients, will offer its clients to trade in crypto, as we are reading further in the altcoin news below.The Banking giant RBC) wants to give the customers the chance to trade in crypto such as Bitcoin and Ethereum for investment goals, also the RBC wants to provide a platform for in-store and online crypto purchases, claims the media company. Allegedly RBC plans to offer customers cryptocurrency bank accounts, claims The Logic while stating that the Royal Bank of Canada did not respond to requests for comments about the proposed exchange launch.The Royal Bank of Canada is exploring possible blockchain technology applications in the banking sector since 2017, also the RBC has four patents registered in the United States the patents are cryptocurrency banking-related. As we read in the reports:
 “To individual users, managing cryptographic keys and transacting with different cryptographic assets can be a challenge. In some situations, cryptographic asset transactions may take time to be confirmed, and/or may not be compatible or supported by merchant systems or point-of-sale devices.”
The CEO of The Royal Bank of Canada (RBC) David McKay, said that the bank is willing to experiment with blockchain in the private equity sphere and he was quoted saying:
 "Blockchain is an opportunity in the future to take assets that are less liquid and make them more liquid. I think that’s exciting."
If the Royal Bank of Canada (RBC) makes the crypto exchange launch, it might at once become the most important domestic exchange in the crypto sector and also a huge international player. According to claims made by the RBC, the bank is one of the top 15 banks internationally based on market capitalization. The Royal Bank of Canada says that 23% of its revenues come from its operation in the United States, and 15% from elsewhere in the world, the other part of the revenue is from its Canadian operations.The RBC says that it employs more than 86,000 staff members and has a client base of over 16 million.
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Swiss-Based Crypto Bank SEBA Provides Support For BTC, ETH, XLM

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The Swiss-based crypto bank SEBA is now officially opened for business after it received a license from the Swiss financial market supervisory authority earlier in August this year. The bank now aims to become operational this week as we are reading further in the cryptocurrency news below.The Swiss-based crypto bank will now be serving the Swiss customers and will include private investors and corporations but will also provide support for legacy currencies such as ETH, Bitcoin, XLM, LTC and Ethereum Classic. The cryptocurrencies can be traded into and out of fiat. When the bank got its FINMA approval in August, the board chairman Andreas Amschwand noted that:
‘’The banking licence of the Swiss Financial Market Authority FINMA is not only a milestone for SEBA, it sets a new standard for banking in the Blockchain and digital asset economy. This moment has significance far beyond the Swiss financial industry.”
SEBA will offer its customers online banking services, mobile banking and a new SEBA card that can be used at more than 40 million merchants worldwide. The bank also plans to extend its services beyond Switzerland by the end of December. SEBA is the second Swiss-based bank to receive approval from the regulator after its rival Sygnum which also received the FINMA approval in August this year. Sygnum operates out of Switzerland and Singapore.After getting the approval, the co-founders Mathias Imbach and Gerald Goh set their goals on getting a license in Singapore and they stated that ‘’in order for us to provide a full suite of services, we need to operate as a bank.’’ While Switzerland is considered to be a crypto-friendly jurisdiction, banking remained a weak point. The blockchain companies were denied all types of banking services deemed as too risky to provide the clients services. As per the SEBA press release:
 “… a limited range of services is intended specifically for Swiss blockchain companies and their employees. SEBA gives these companies access to a corporate account with a Swiss bank, thereby closing an important gap in the local ecosystem.”
Finding banking partners that the clients can rely on, regarding jurisdictions that welcomed blockchain and crypto companies has been extremely hard so far. Binance and other VC supporters started the process of seeking a banking license from the European Union for Founders Bank but there is still no further information about this idea.
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Bithumb Global Launched Native Coin For Its Custom Blockchain

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Bithumb is one of the leading cryptocurrency exchanges. In the latest initiative which is viral in the cryptocurrency news, we can see that the organization named Bithumb Global launched a native coin for its Bithumb Chain, which is the custom blockchain of the exchange.The token was launched under the "BT" ticker and is named Bithumb Coin. The main idea behind it is to see it work as a medium of exchange for the ecosystem. As the company revealed in an official statement this Tuesday, the Bithumb Chain is expected to launch at some point in the first quarter of 2020.When talking about mechanics and features, we can see that Bithumb Global is planning to mint a hard cap of 300 million Bithumb tokens (BT). Half of the revenue that the exchange has will be used to burn 50% of BT and its token supply over time. This is very similar to the case of Binance Chain and its Binance Coin (BNB). The BNB coin news showed a supply of 150 million tokens.The initial distribution will be split between the on-exchange incentives and the chain development, accordingly. According to Bithumb Global, the exchange will also use the coin for fees related to handling, rights to use Bithumb Chain and future payment mechanisms. Earlier this month, the exchange also announced its "Exchange-as-a-Service" feature which will develop decentralized finance applications or DEX protocols using Bithumb Chain as its main part.Bithumb Global noted that the Bithumb Coin (BT) tokens can be also used to vote in chain governance such as investment decisions when it comes to Bithumb Chain. A part of the exchange's Korea branch operates out of Singapore with an average daily trading volume of around $700 million, as data from CoinMarketCap shows.The global digital asset exchange Bithumb is known for the trust, brand reputation and fund custody which are all factors that secure the users' assets, their website shows. With financial derivatives and preferred projects, the exchange is committed to showing users a lot of possibilities for wealth discovery. The Bithumb exchange is operated by Bithumb global with an app that can be downloaded via the Google Play Android store or iOS App Store.
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Manny Pacquiao Token Is Set To Launch An IEO On GCOX Exchange

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The token of the legendary boxer and Filipino champion Manny Pacquiao was in the crypto news recently when the sportsman announced that he was issuing his own cryptocurrency - the PAC token. Now, the PAC token is following the crypto crowdfunding trend by engaging in an initial exchange offering (IEO) which is the courtesy of the Singaporean exchange GCOX. The sale for the token will open on November 12.The Manny Pacquiao token was first hinted on at a free concert for fans in Manila during early September. While serenading his fans with love songs, the boxer informed them that they could soon buy his merchandise and interact with him on social media using the PAC token.Right now in 2019, the IEO seems to be prepared - as a well proven method of gathering support and interest in a project. Even though the Binance news in 2017 showed that the exchange was the first to kick off the trend back then for its Bread and Gifto, the trend continued with the launch of BitTorrent which ignited a new era in crowdfunding with around $3.4 billion being raised through IEOs to date.Meanwhile, GCOX is the exchange which will host the Manny Pacquiao token - and the first to offer an IEO platform specifically for celebrities who want to launch their own digital currencies. Even though the boxer is one of the first blazing the trail in this regard, it seems like there are many others who will follow. One of them is the tennis star Caroline Wozniacki, followed by the singer Jason Derulo, too.GCOX is known to the markets as an exchange which provides a full suite of services for these "celebrity tokens" which includes the creation and listing of tokens on the exchange - and allows trading the tokens for products such as branded merchandise or other services including exclusive live streaming of events or social media shout-outs.Manny Pacquiao is not the first celebrity to jump the crypto bandwagon. Before this, the boxer Floyd Mayweather also did the same - but was fined by the SEC for having promoted the scam ICO Centratech in exchange for $100,000.
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