Coinbase, one of the world’s biggest crypto exchanges, is in the crypto news today after they announced the opening of their new office in Dublin, Ireland. Their plan was announced on their website yesterday October 15.
This decision comes as a contingency plan for when the United Kingdom leaves the E.U after Brexit and because of the needs of the exchange to expand its operations in Europe. London will remain the main office of Coinbase in Europe but the new Dublin team will tackle many new business operations.
The Irish Minister for Financial Services and Insurance Michael D’arcy stated:
‘’ I am delighted that Coinbase is opening an office in Dublin. This decision highlights the competitive offering and attractiveness of Ireland for financial services.’’
The U.K CEO of Coinbase when talking to the Guardian said that the company wants to capitalize through the talent pool that is available in Ireland. He also said that this is a plan B if the U.K decides to leave the EU by saying:
‘’It is also a plan B for Brexit. As we plan for all eventualities, it’s important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it.’’
On this same subject, the British finance minister expressed his hope that the blockchain technology might help to ensure a seamless post-Brexit trade between the EU and the UK.
There was also a study called ‘’Blockchain for Brexit’’ where hundreds of analysis are provided on how the blockchain can improve and help the post-Brexit trade between the UK and the EU.
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Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
“Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
Ron Karpovich: Crypto Innovators Will Have To Use A Bank To Move Funds
“Ultimately behind the scenes, they [crypto innovators] are going to have to use a bank to move funds. There’s more partnership instead of competition in that space. [...] When it comes to margins and capabilities — payments is never something that grows in margin, nobody wants to pay for a payment. That’s one of the hardest parts of this process: you have limited resources in the capability to sell, so you need highly efficient and large players.”Karpovich also stated that the blockchain technology could revolutionize the entire payments industry so that consumers won’t even notice the transformation as the technology will develop quickly into a cost-effective and efficient service. When talking about the JPM Coin, JPMorgan Chase’s blockchain-powered cryptocurrency, Karpovich didn’t agree with the suggestion that this move by the banking giant is a huge u-turn in their stance on the crypto industry given that the CEO Jamie Dimon is a popular Bitcoin antagonist because of what he said:
“I think there’s a difference between trading a cryptocurrency that’s in the market that’s ubiquitous versus using the technology to enhance your payments infrastructure. We look at the technology as being a means to doing things faster and cheaper: every CEO would like to make things faster and cheaper. So from that standpoint I think it represents a buy into the concept of using blockchain.”He does believe that the decision to issue a cryptocurrency aligns with the initiatives at the bank and thinks that the bank could potentially become a huge player in the blockchain space because of their private blockchain platform Quorum and its Interbank Information Network. The crypto community has mixed feelings about the JPM Coin. Some believe that this is a great moment for the crypto industry while others believe that it will close down the network structure and it will fragment the financial sector.
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- Dissident Revolutionary Group Use Crypto To Overthrow Kim Jong-Un In North Korea
- Crypto Benchmark Indices Launched On Bloomberg, Reuters And Nasdaq By CoinMarketCap
- Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
- Ron Karpovich: Crypto Innovators Will Have To Use A Bank To Move Funds
- Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores
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