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Blockchain Exchange Alliance Obtains $200 Million In New Funding Round

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The Blockchain Exchange Alliance is the parent company of one of the largest South Korean exchanges-Bithumb. The BXA obtained $200 million in funding from the Japanese Investment ST Blockchain fund according to a press release that we have in the altcoin news today.

The press release published on Cointelegraph Japan, explains that the funding is part of the Series A funding round. With the funding, the Blockchain Exchange Alliance will expand on the international market thus pushing Bithumb to conquer international markets. There will also be new trading pairs as well.

The ST Blockchain Fund is based in Japan but many investors from Europe and the United States also participate. The Blockchain exchange alliance stated:

 “The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision.’’

The new funding round comes right after the massive loss of Bithumb after the exchange hack. The Exchange lost about $13 million last month about which some of the executives believe that could have been an insider attack.

As previously reported in our latest cryptocurrency news, the Blockchain Exchange Alliance released the results of the public audit in a bid to reassure the investors that their funds are basically intact. Before this attack happened, there was a much bigger one where Bithumb lost about $30 million which later turned out to be $17 million.

The company’s losses for 2018 summed up to $180 million according to reports. The ST Fund shows its support for the local crypto market by investing in the Blockchain Exchange Alliance after the price of Bitcoin spiked over the month.

Last week, the increase in the price of the number one cryptocurrency, boosted the interest and demand on the South Korean Market as well. The ‘’Kimchi Premium’’ surcharge for Bitcoin in fiat on all major South Korean exchanges, also reappeared after a longer period of time.

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Blockchain News

Gemini Crypto Exchange Includes SegWit Support To Its Updated Wallet

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Gemini crypto exchange, one of the most popular ones on the crypto market, has included SegWit support to its new wallet infrastructure. The Winklevoss twins revealed the new bitcoin address in an official blog post that we have in our latest cryptocurrency news below. The Gemini crypto exchange was founded by the Winklevoss twins and they announced the support for Segregated Witness on their blog post two days ago. SegWit is basically a scalability solution meant for the bitcoin network that was first launched in 2017. SegWit helps with the increasing block size and moving the ‘’witness’’ signature data to a whole another location. This way the malleability of the transactions in solved and the Gemini crypto exchange is among the first to use the solution. The author of the blog post, Brian KimJonson explained that the developer team will enable SegWit addresses to be easily used for both BTC withdrawals and deposits. The Gemini crypto exchange also announced the support for transaction batching and according to Brian; they are the first to launch a full SegWit Support. KimJohnson also pointed out that the Winklevoss twins didn’t make the decision quickly without considering it twice. He pointed out that the choice to use the native addresses was based on saving the block space as well as to follow safety measures. The arguments go on further to promote SegWit since the segregation of digital signatures from all the transaction data will decrease about 30-40 percent less. This way the block space occupation will be decreased thus the fees will also be dramatically lower. The Gemini crypto exchange blog post also explains that the support will enable a working ground for solutions such as the Lightning Network’s second-layer solution for the bitcoin scalability issues. As previously reported in our altcoin news, San Francisco-based Coinbase and Global Digital Asset Exchange GDAX or better yet Coinbase Pro, also provided SegWit support for BTC transactions at the start of 2018. Both the Gemini crypto exchange and Coinbase pro are included in the new index for 10 crypto exchanges from the Messari crypto analytics company. The Index is better known as ‘’Real 10 Volumes’’ was initially created in order to spread awareness over the fraudulent trading volume that is constantly reported by unregulated exchanges.
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eToro Blockchain Division Launches A Crypto Exchange, Issuing 8 Stablecoins

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etoro blockchain division
The blockchain division of the global social trading platform eToro is in the latest cryptocurrency news for launching a cryptocurrency exchange for pro traders. According to an official press release on April 16, eToro is taking a big leap forward in the crypto market. Named eToroX, the new exchange launched by the eToro blockchain division claims to be a secure and regulated trading venue. Currently, there are 37 trading pairs and pro traders can convert six cryptocurrencies to fiat - including US dollars, Euros and Swiss francs. Leading the coming altcoin news section, eToro also decided to allow users to trade Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dash (DASH), Bitcoin Cash (BCH) and Litecoin (LTC). As the managing director of eToroX named Doron Rosenblum stated, more pairs will be launched in the coming months. https://twitter.com/eTorox/status/1118130082399379456 More importantly, the eToro blockchain division 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), UK pound sterling (GBPX), Australian dollar (AUDX), and Canadian dollar (CADX). All of them will be issued and controlled by eToroX. The CEO of eToro, Yoni Assia, also said that the platform is ready to bring the crypto world to a larger pool of investors, stating:
“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.”
The eToro blockchain division will be led by professionals. According to Assia, the financial services will be transferred to blockchain since the tech brings a new paradigm for asset ownership. He believes that right now, traditional asset classes need to be explored and act as a property that needs to be tokenized. From an altcoin news perspective, it is also important to mention that in March this year, eToro officially launched the platform and crypto asset wallet - when it also announced that it has acquired the smart contracts development company Firmo so that it can explore and add more tokenized assets. A lot of best cryptocurrency news sites have reported the new eToro blockchain division, noting that it is definitely something that the market needed right now.
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New Forbes Report Lists Number Of Billion Dollar Companies Using Blockchain

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The number of billion dollar companies using blockchain is increasing, according to the financial outlet Forbes and its recent report which made the latest cryptocurrency news on our site. The blockchain news show multiple billion dollar companies using blockchain and businesses that are actively implementing the blockchain technology. What's interesting is that Forbes listed only the ones which have minimum revenues or valuations that go from $1 billion upwards, naming them “Blockchain’s Billion Dollar Babies.” In addition to traditional financial firms such as banks and clearing houses, food companies, supply chain management firms and others, Forbes also featured companies that are active in the cryptocurrency and blockchain space. For those of you who are wondering, the big companies using blockchain include the names of Amazon, Walmart, Facebook, ING, MasterCard, Microsoft and Nestle as only some of the names. The news went viral on many best cryptocurrency news sites, mostly because of the big names in the industry. The crypto-related companies featured in the “Blockchain’s Billion Dollar Babies" list included the names of the leading exchange Coinbase, the European mining and hardware firm BitFury as well as the blockchain-based financial services network and XRP token issuer Ripple. Aside from the full list of billion dollar worth companies using blockchain, Forbes has also noted major firms that are in negotiations or talks to adopt blockchain technology - as well as companies which use blockchain protocols only. Some of these include Hyperledger protocols, blockchain consortium R3's Corda protocol as well as the Ethereum network as featured in the list of firms in various industries. Forbes has noted that the potential for blockchain technology is big now, and the main aim is to simplify the various business processes, following the example of the Depository Trust & Clearing Corp (DTCC) which keeps records of 90 million transactions recorded per day, or the record high $48 trillion dollars in securities. According to Forbes, the firm will supposedly start switching its 50,000 accounts to a blockchain-based system which will definitely help and eliminate duplicate procedures as well as reconciliations that are still prone to happen when linked to traditional electronic clearing networks. For all of you interested to see the Forbes “Blockchain’s Billion Dollar Babies" report , visit this link.  
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Blockchain News

Monex Group Considers Adding Crypto To Its Retail Client Offerings

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Monex Group Inc., who is actually the owner of the CoinCheck Japanese crypto exchange, is thinking about adding crypto to its retail client offerings. The goal is to become more competitive on the brokerage market and we read more about it in our coming altcoin news. According to reports, Monex Group acquired Coincheck a year ago in April right after the exchange was hacked and lost nearly $532 million in the same year. Going back to 1999 when Monex Group was founded, the company was one of the most popular online brokerages. However, since then, the company was run over by rivals such as SBI Holdings, Rakuten and Mastui. The brokerage unit of the company considers adding digital currencies for retail clients offerings by collaborating with Coincheck. Monex Group Securities Inc.’s president Yuko Seimei believes that this strategy is crucial for the further success of the company:
 “We’ve fallen a little behind — we can’t deny that. If we keep doing things the way we have, we may not be able to close the gap.”
Japanese investors seem to have a lot of enthusiasm for cryptocurrencies despite the increasing competition. The Japanese Yen is now accounting for 45% of national fiat currencies trader for Bitcoin according to statistics. As previously reported in the latest cryptocurrency news, Monex Group got Coincheck under its wing and took multiple measures to improve the protection of the company and to develop its trading systems. The company also tried to reimburse those who were affected by the hack of the exchange. Last year in November, Coincheck resumed trading and obtained an operating license from the Financial Services Agency in Japan in December 2018. The financial report of Monex Group shows that in the third quarter for 2019 fiscal year Coincheck halved its losses as compared to the preceding quarter. This month, Monex announced a few changes to its management organization by hiring three Coincheck executive directors to enhance the cooperation between the companies.
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