Daily Cryptocurrency News – 1st November 2018

Here are the latest most important cryptocurrency news of November 1, 2018

Emurgo’s New Exchange Will Set Cardano [ADA] as The Base Currency

Emurgom, one of Cardano’s parent organizations, has announced its plans to partner with IOHK. The goal of the partnership is to develop a new cryptocurrency exchange with Cardano as the base cryptocurrency.

The two organizations have reportedly formed a partnership with an online forex platform known as IronFX. They did this as an attempt to raise $22.3 million towards building a new exchange expected to start operations in December 2018.

Traders with the native token (IRX) will be rewarded with discounts on trading fees in addition to other associated benefits. This is the same type of rewards leading exchanges do, such as Binance.

The new exchange IronX will use an ERC-20 token (IRX) and will be using the ADA token in the standard trading pairs.

The ICO will start on Thursday this week and it will run expectedly until mid-December with a market cap of about $50 million.

Smartlands Platform Puts Pipeline Projects to a Vote To Prepare for STO on Stellar

Image Source: Medium

Smartlands Platform is glad to present to the community and investors a pipeline of five pilot projects. These projects were selected based upon the current market conditions in the respective areas where the assets are situated, the expected rate of return on the tokenized investment, and the initial investment amount needed for successful tokenization.

The Security Token Offering (STO) will begin after the community vote and as soon as the legal framework for token issuance will complete.

Only SLT token holders are eligible to participate in the vote and the subsequent tokenization project.

Frequent requests from investors in South-East Asia resulted in a new goal. The Smartlands Platform will be actively pursuing the possibility of adding Binance Coin (BNB) to the cryptocurrencies eligible to participate in the future Smartlands Platform projects.

The vote will take place on the Smartlands Platform website. The voting process will begin shortly after publishing the announcement. However, it will be no later than Noon of November 1 and will continue for two weeks from the time of the announcement. All votes are final, so users need will need to think carefully about their opinion.

Uganda Has Become The First Country in Africa for the Binance Fiat-Crypto Exchange Launch

After months of planning with the CEO, Binance has announced the launch of its first official fiat-to-crypto exchange.

Binance plans to serve some 44 million Ugandan customers and commence trading in Uganda this week.

The name of this new cryptocurrency exchange will be Binance Uganda.

The exchange will reportedly only accept trade in Uganda’s national fiat, the Ugandan Shilling. It will presently only be able to trade in Bitcoin (BTC) and Ethereum (ETH). However, further products are part of the plans in the later stage.

The platform is set to handle 1.4 million transactions per second. For the first month, the estimated market of 44 million Ugandan customers will be exempt from trading fees. During this time the exchange will also provide 24/7 customer support services.

Binance’s CFO went on to note that “this is only the first step in our efforts to use blockchain technology to support sustainable economic development in Africa.” The Binance CFO also pointed out that the company plans to bring “more innovations to the region.” This will reportedly include opening further fiat-to-crypto exchanges throughout Africa.

If you missed yesterday news, you can check them out here: Daily Cryptocurrency News – 31st November 2018

Image Source: Coingape

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