TokenPost reporter
Melvin Alfred Wong
Stories by Melvin Alfred Wong
- Arizona approves trial of marijuana payment via stablecoin in fintech sandbox
Arizona has been quite enthusiastic in supporting its fintech industry and one of its latest efforts involves approving trial of payment for medical marijuana via stablecoin in its fintech sandbox.
· Technology
- Bittrex, Rain partner to establish crypto trading platform in MENA
As of now, the blockchain industry is like the California gold rush and as the pioneers, crypto firms Bittrex and Rain want to be the first to carve a huge slice for themselves in a new partnership.
· Business
- Canadian crypto exchange sued six times over payment refusal
It would appear that even Canada is not immune to the woes experienced by crypto traders since the exchange platform ezBtc.ca is now facing six lawsuits over refusing to pay customers.
· People
- ‘Know Your Business’ service to be launched by TokenSoft
Security token specialist TokenSoft recently announced that it would be dabbling in the “Know Your Business” (KYB) sector with a new service that it is planning to launch.
· Business
- $1M blockchain payments processed by S7 Airlines in July
Blockchain payments have been on the rise for a while and S7 Airlines just posted its July report, noting how it processed over $1 million of these payments.
· Business
- Dubai to launch Know Your Customer blockchain consortium
Dubai just announced that it is planning to launch a blockchain consortium based on a Know Your Customer (KYC) framework. This will be done via the collaboration of the blockchain firm Norbloc, Dubai International Fin…
· Technology
- Malta to employ blockchain for national business registry
Malta is one of the latest countries to announce the planned deployment of blockchain in one of its services, and in this particular case, it will be the Malta Business Registry (MBR).
· Technology
- Crypto derivatives firm Quedex obtains Gibraltar regulatory license
The Gibraltar Financial Services Commission (GFSC) recently granted a license for crypto derivatives firm Quedex to operate in the country, making it the first crypto futures and options exchange to do so.
· Business
- Crypto exchange Kraken boosts user portfolio management with Interchange acquisition
Crypto exchange Kraken recently acquired Interchange, which is a firm that offers “accounting, reconciliation and reporting” services. This new acquisition is intended to make portfolio monitoring for users much easier.
· Business
- Crypto payment app Fold offers cashback
With crypto payments becoming more common, it was only a matter of time before popular features like cashback become available and the payment app Fold will be offering exactly this.
· Business
- Huobi joins Global Digital Finance to standardize crypto industry
One of the aspects of the crypto industry that come with its growth from infancy is lack of structure and this is what crypto exchange Huobi wants to fix by joining Global Digital Finance (GDF).
· Business
- Former Mt. Gox CEO Mark Karpeles to face class-action lawsuit in US
Following a recent ruling, the former CEO of the ill-fated Mt. Gox crypto firm Mark Karpeles will go on to become the defendant in a class-action lawsuit in relation to the infamous 2014 incident.
· People
- Samsung partners with rival Pundi X for crypto wallet
It was recently announced that Samsung and Pundi X, rivals in the blockchain smartphone arena, are teaming up with regards to adding crypto wallets to smartphones.
· Business
- Middle Eastern crypto exchange Rain makes history, gains regulatory approval
The Middle East is actually seeing a huge jump in interest when it comes to cryptocurrencies and in a historic development, the crypto exchange Rain has managed to snag regulatory approval in the region.
· Business
- New bitFlyer bitcoin trading service launches in EU with 20BTC cap
Japanese crypto exchange bitFlyer just launched a new service in Europe to offer simplified bitcoin buying and selling services in the region.
· Business
- Crypto exchange and custodian platform Smart Valor goes live following successful funding
After raising $3.25 million in a recent successful round of funding, Swiss crypto firm Smart Valor is launching a digital asset exchange that will operate out of both Switzerland and Liechtenstein.
· Business
- Blockchain startup Lumachain secures $2.4M to fight modern slavery in food industry
In a recent successful round of fundraising, blockchain startup Lumachain raised $2.4 million to help it in its fight to end food slavery.
· Business
- Bermuda grants legal status to XBTOI crypto firm
XBTO International (XBTOI) was recently granted a license to operate by Bermuda Monetary Authority (BMA) under the 2018 Digital Asset Business Act that the island enacted. With this, the crypto firm is now able to ope…
· Business
- Etisalat Digital announces blockchain trade finance initiative with First Abu Dhabi Bank
First Abu Dhabi Bank and Etisalat Digital recently announced a new initiative that will be offering digitized trade finance services via the UAE Trade Connect (UTC) platform, developed in collaboration with Avanza Inn…
· Technology
- Mastercard-Benefit partnership to bring blockchain benefits to Middle East
The international financial giant Mastercard and the Bahrain Electronic Network for Financial Transactions (Benefit) recently announced a partnership to bring blockchain to the kingdom. The goal is to allow for blockc…
· Technology
- Tech organization Nasscom opposes Indian crypto ban, ‘Not Helpful’
It is no secret that India has not been the most enthusiastic country when it comes to cryptocurrency as far as its government is concerned and is even considering banning it. This is where the National Association of…
· Insights & Views
- Ripple calls for regulatory clarity for crypto industry in an open letter to Congress
Given the current unfavorable and vague regulatory environment for cryptocurrencies in the United States, blockchain startup Ripple has penned down an open letter to Congress.
· Regulation
- Iran approves crypto mining, crypto still not legal tender
The government of Iran just gave crypto miners the green light to begin operations in the country that has been surprisingly receptive of the new industry. While crypto coins are not yet allowed as legal tender, regul…
· Regulation
- New bill leaves out digital currencies from cash payment limit in Australia
Australia recently passed a new draft bill that imposes limits on cash payments, while cryptocurrencies have been excluded. This was supposedly intended to prevent innovations from being stifled.
· Regulation
- Austrian firm releases ‘Cold Wallet’ to prevent crypto theft
Stolen crypto coins have been causing a lot of issues in the industry of late but by storing these coins offline, it can be much easier to avoid such incidents.
· Technology
- US looks to blockchain for military and defense use
The US Department of Defense (DoD) is now looking to use blockchain for military purposes. It would appear that the intent is mainly for securing communication by defense personnel.
· Technology
- Korean banks implement stricter requirements for crypto exchanges after new FATF guidelines: Report
Recent reports indicate that South Korean banks are making the requirements for renewing account by four crypto exchanges more difficult. This is done with the justification of adhering to new anti-money laundering laws.
· Regulation
- Crypto-centric finance app Aximetria obtains license from Swiss regulator
Being given a license that complies with anti-money laundering laws in Switzerland, crypto-focused finance app Aximetria can now say that its product is “fully compliant with Switzerland's anti-money laundering laws.”…
· Business
- Croatian Post launches crypto exchange service trial
Croatian Post, the national postal operator of the Republic of Croatia, has announced a pilot project to allow domestic and foreign cryptocurrency users to exchange their crypto coins.
· Business
- BTC-e founder faces $100M in fines, indicted for criminal conspiracy
The founder of the defunct crypto exchange BTC-e Alexander Vinnik has just been served an indictment and is now facing $100 million in penalties. The charges include criminal conspiracy and money laundering, as well a…
· Business
- Chinese alcohol wholesaler Oranco tests blockchain-based anti-counterfeiting solution
One Chinese wholesaler is employing blockchain technology to try and counter the flow of counterfeit alcohol. Oranco Inc. is known for importing wines into the country and it hopes to be able to identify fake liquor b…
· Technology
- Regulatory issues force Abra to restrict US services
Users who are based in the United States will be having trouble taking full advantage of the Abra app for a while because the firm is nervous about regulatory issues. As a result of the so-called “regulatory uncertain…
· Business
- Singapore blockchain firm Perlin acquires struggling Dispatch Labs
Perlin, a blockchain firm based in Singapore with ties to the International Chamber of Commerce (ICC), recently acquired Dispatch Labs, Cointelegraph reports. This development follows reports about the latter sufferin…
· Business
- Mysterious death of BitMarket co-owner follows crypto exchange's collapse
Tobiasz Niemiro, the co-owner of BitMarket – a Polish cryptocurrency exchange which recently went offline, was found dead last week. Reports indicate that his death was a result of head trauma and speculations regardi…
· People
- Android users can now download tZERO crypto app
The blockchain-based subsidiary of retail giant Overstock.com, tZERO, has recently announced that its crypto app is now available for download by Android users.
· Business
- South Korea sees rise in crypto crimes, $2.28B in costs
The latest data from the South Korean government indicates that crimes involving cryptocurrency have been on the rise and has cost 2.69 trillion won ($2.28 billion) since 2017. This has led the Justice Ministry to tak…
· Regulation
- New Deloitte survey paints optimistic picture of corporate interest in blockchain
A survey from global auditing giant Deloitte indicates a continued strong investment in blockchain technology from organizations.
· Insights & Views
- South Korea leads in blockchain patent-granting rate
A new report indicates that in terms of the number of patents involving blockchain being granted, South Korea has the highest rate in the world. It far surpasses the country in second place; Japan.
· Business
- Stifling UK system forcing crypto firms to bank elsewhere, new survey shows
A new survey involving crypto firms in the UK shows that many of them are opening bank accounts in other countries because of the difficulties of doing so in their own turf. The results reflect a strong sign of discri…
· Regulation
- Regulatory innovations for blockchain are ‘Question of Survival,’ says South Korean President
While many might consider blockchain regulations as the government simply being overbearing overseers, South Korean President Moon Jae-In believes otherwise. In fact, he sees regulatory innovation as a means of surviv…
· Regulation