One of the largest crypto exchanges in the United States- Kraken, has officially bought the United Kingdom’s based crypto futures provider and exchange Crypto Facilities according to the company’s press release that we are covering in today’s crypto news.
Crypto Facilities was founded in 2015 and is fully regulated which gives Kraken a huge step ahead in the European market. Both of the sides decided not to discuss the price of the purchase but they did say that it was a nine-figure deal.
Kraken CEO Jesse Powell said:
“We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings.”
The decision comes after crypto exchanges are trying to expand abroad and expand their reach to users and at the same time circumventing the restrictions by the regulatory climate in the United States versus other markets.
For example, crypto exchange Bittrex also decided to launch an international branch of its trading platform that will divide the US users so it can be able to offer more tokens to all of the non-US users.
This is why both of the companies (Kraken and Crypto Facilities) agreed on the partnership and focus on going forward. According to the press release:
“Crypto Facilities will remain London-based, benefiting from the regulatory oversight of the Financial Conduct Authority, one of the world’s most forward looking and innovation-focused regulators, and reflecting Kraken’s commitment to the UK as the leading financial and cryptocurrency hub in Europe.’’
Japan Crypto Regulation: Exchanges Could Get New Rules Regarding Cold Wallets
Privacy Coin Monero Turns Five Today, What Did It Achieve?
“Monero gives you control over the privacy of your digital financial transactions. This privacy is a fundamental human right for individuals and a competitive essential for businesses.”In the latest cryptocurrency news, we also pointed out that the privacy coin monero made huge technical progress. In 2018, XMR developers activated bulletproofs which is a type of zero-knowledge proofs on the blockchain. The development affected the XMR transactions which made them extremely cheaper. Unlike other competitors, privacy coin monero was founded after the Bytecoin hard fork. It leverages ring signatures which makes possible for the identity of the sender to be hidden and all of the one-time keys are made unlikable. Combining with the Bulletproof program, the privacy on the blockchain is among the most advanced in the entire crypto ecosystem. It is interesting to notice that Monero does not have a constant growing competition since many out there are not privacy-oriented. For example, Nightfall and Zether protocols can only hide the transaction details on the ethereum network.
Carrefour And Nestle To Use IBM’s Blockchain Technology To Track Food
“Using the QR code on the product’s packaging, each consumer will be able to use a secure platform on their smartphone to access information on the production supply chain, including the varieties of potato used, the dates and places of manufacture, information on quality control, and places and dates of storage before the product reaches the shelves.’’The decision to use IBM’s blockchain technology comes one day after the supermarket chain from the United States Albertsons stated it was going to use Food Trust for one of its products. Albertsons will use the blockchain technology to track the iceberg lettuce origins and other products are waiting in line as well. As reported in our latest cryptocurrency news, Carrefour and Nestle continued to explain in the press release:
‘’ This partnership is based on the shared values of each company to bring consumers greater transparency in the food sector. By simply scanning a product using a smartphone, consumers will receive reliable and unfalsifiable information on the supply chain and production.”Carrefour has been in the news before for attempting to use blockchain technology in order to be able to track the origins of the milk in its stores. Currently, there are about five million different items in the store shelves that are tracked with the help of blockchain technology.
The Central Bank Of The Philippines Approved Three New Crypto Exchanges
“Melchor Plabasan, officer-in-charge at the Technology Risk and Innovation Supervision Department of the central bank, said newly approved were Bexpress Inc., Coinville Phils. Inc., and ABA Global Phils. Inc.”As previously reported in July 2918, the government-operated Cagayan Economic Zone Authority issued approximately 24 licenses for the crypto exchanges which actually increased the bar to 34. The economic zone in the Northern part of the Philippines issued its own licenses once again proving to be in step with the blockchain technology developments. Over the years, the country became a powerhouse for the crypto businesses because of the friendly regulations and the interest from the small and local companies. For example, the largest crypto exchange in Southeast Asia Coins.ph reportedly has 1 out of 10 Filipino adult users. The CEO of Pantera Capital Dan Morehead who is the first investor in Coins.ph stated:
‘’A week or so ago, we announced that we sold Coins.ph in the Philippines and I think that is a great example of Bitcoin’s actual usage now and not 20 years from now. They have one out of ten adults in the Philippines as a customer. That’s very real. I think it is important for the community to really know that there are applications that are working right now.’’The Filipino model of approving crypto exchanges resembles the one of Japan. The Financial Services Agency (FSA) and the rest of the authorities in Japan introduced a national licensing program. The agency manually approves all of the exchanges that operate on the market. The process for approving the exchanges starts by filtering the companies with weak infrastructure in order to make sure to protect the funds. This approach towards regulating the crypto industry in the Philippines is a good way to facilitate the growth of the crypto sector.
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