Daily Cryptocurrency News – 12th October 2018

Welcome to our Daily News article. Here is the most important cryptocurrency news of October 12th.

Binance Coin ($BNB) now lets you buy real estate online from around the world – including US, EU, China

Propy, the new company that sells real estate for crypto has made a significant announcement. The platform will now be accepting the Binance Coin (BNB) for home purchases.

BNB is the token used on Binance, the world’s most famous exchange. Most trading activity takes place in Binance, according to daily volume. Thus, it is a strategic move for the platform to integrate the coin, which is 14th in top cryptocurrencies. Moreover, it has a market capitalization of about $1 billion.

Changpeng Zhao, also known as CZ, the CEO, and founder of Binance, responded with excitement. He said on Twitter: “Wow, thanks!”

He said, “I will introduce you to all the Chinese buyers, they buy like crazy.” Chinese real estate investors are well known for purchasing real estate in other countries. Their purchases have reached before the point of affecting markets of various countries. These include the United States, Canada, and Australia.

Propy aims become the most popular platform to buy real estate through crypto in the world. The company was responsible for the first real estate purchase on the Ethereum blockchain last year. TechCrunch founder Michael Arrington bought an apartment in Ukraine.

Propy is a company that operates globally, featuring properties in big cities such as San Francisco, London, New York, Tokyo, and more.

Bitfinex Suspended all Fiat Deposits as Bitcoin Premium Surged Over $100

Source: Cryptoglobe

Leading cryptocurrency exchange Bitfinex has paused fiat deposits in USD, EUR, GBP, JPY. However, some screenshots from users who trade on the UK Virgin Islands-registered exchange show something. They show that “things” would be back to normal after one week or could normalize within that time.

The primary reason for these latest banking problems come from the market’s attitude to the exchange the most recent days. According to the title chart, the Bitcoin USD ‘risk premium’ on Bitfinex has increased to over $100 over other exchanges. This led to a belief of a higher risk of trading on Bitfinex.

These latest banking problems may come from the market’s attitude to the exchange in the last few days. Looking at the title chart, the Bitcoin USD ‘risk premium’ on Bitfinex has increased to over $100 over other exchanges. Market analysts believe this reflects a higher risk of trading on Bitfinex.

Reports Have Emerged

Moreover, some reports had emerged last week. Bitfinex, the long suspected to be holding funds at the now-faltering Noble Bank in Puerto Rico, had found a permanent banking partner in HSBC.

In response to the Noble Bank reports, some in the crypto space made a suggestion. That suggestion is that Bitfinex has now shifted to banking with HSBC via a private account under the name “Global Trading Solutions.” The exchange has not responded yet to these claims. Still, it has emphasized that all Noble-related allegations “have no impact” on Bitfinex’s operations.

Furthermore, the cryptocurrency market has faced a significant sell-off on Thursday. This has led to questions about whether there is a connection for decline and concerns over Bitfinex’s oft-opaque operations.

Bitcoin is currently priced at $6,303 on Bitfinex, compared to the $6,199 on Coinbase Pro on Gemini, $6,194 on Bitstamp, and $6,192 on BitMEX. These prices show a premium of nearly two percent.

Former Coinbase Executive Adam White Joins Bakkt

The Block has reported that former Coinbase Executive Adam White has already joined Bakkt. It is an upcoming crypto platform that has partnered with some of the world’s leading corporations.

Adam White was the fifth employee ever to join Coinbase. He was a critical part of the development of the institutional-based businesses, but he will now serve as the COO of Bakkt.

About Bakkt

Bakkt is a global platform designed to enable consumers and institutions to buy, sell, store and spend digital assets. It has the goal of bringing trust, efficiency, and commerce to digital assets. The platform seeks to develop an open technology. Thus, connecting the existing market and merchant infrastructure to the blockchain.

Bakkt already has partnerships with Microsoft and Starbucks. With the purpose to create an “ecosystem for digital assets.” Bakkt’s team is still small, and there are only a few client firms in with the project so far.

Bakkt’s Three Goals

Bakkt plans to create a trustable infrastructure for trading and storing crypto like Bitcoin. In a blog post, Bakkt CEO Kelly Loeffler stated that Bakkt needed three factors to achieve their goal:

· A consistent regulatory construct
· Transparent, efficient price discovery
· Institutional quality pre and post-trade infrastructure
If Bakkt can create a platform with those features, then it could revolutionize the crypto space.

The next step for Bakkt is to launch its crypto onramp, something that it has scheduled for November 2018. The launch of that on-ramp could be one of the most significant moments of the year for the crypto community. Over time, it will become easier for institutional investors to take part in the crypto market. Now with Adam White as part of the team, the platform should be in its right way.

Ox (ZRX) Has Been Listed on Coinbase Pro

Great news, the team at Coinbase Pro announced that trading of ZRX has commenced on the platform. The tweet went on to state the following:

The team clarified that ZRX trading is not yet on the platform. But, they will make the report by the time that happens. Next digital assets could very likely be BAT, XLM, ZEC, and ADA, mainly because of Coinbase’s July announcement.

 

If you missed yesterday news, you can check them here: Daily Cryptocurrency News – 11th October 2018

Leave a Reply

Your email address will not be published.