Daily Cryptocurrency News – 3rd October 2018

Today has been a day of new agreements and the release of new features. In our Daily News article, we are excited to present the short version of the today’s news. If you’ve missed yesterday’s news, you can read it here: Daily Cryptocurrency News – 2nd October 2018

Upcoming Release for Ledger IOTA App

The new official ledger IOTA app is just about to be released. In order to support this and increase security, Romeo 0.5.0 Public Beta has been launched, with massive updates to improve Ledger integration and user experience.

Features of the new platform are:

  • The Romeo platform can be run anywhere because it is a single HTML file that can be opened in most modern browsers (except Safari) and together with Ledger, you can use your friend’s or any public computer to manage your finances without compromising on security.
  • A normal transaction will just take about 1-2 seconds to complete
  • Support for a billion accounts
  • Security against malware and trojans.
  • User friendliness thanks to being able to save addresses that have been used.

Full details about the new Romeo Public Beta can be found here.

Binance news

Binance Made an Agreement to Open Security Token Trading Platform in Malta

The crypto giant Binance just announced a strategic partnership with Malta Stock Exchange. This agreement was signed on Tuesday through a memorandum of understanding between MSE chairman Joseph Portelli and Binance chief financial officer Wei Zhou.

According to local news agencies, Binance plans to establish a security token exchange and decentralized bank inside the country.

As a security token exchange, Binance’s new platform needs to meet some specific requirements including KYC and AML regulations. This new platform will also include many features from the existing exchange platform. This is a great potential for Binance to step into the security token sector.

Malta is starting to implement a large-scale cryptocurrency and they managed to acquire a significant portion of the blockchain industry. The progress of the security tokens sector will surely attract more investors in the long term.

Binance invests in TravelByBit – An Aussie startup focused on cryptocurrency payments for travelers 

Travelbybit, the Australian cryptocurrency payments startup, has seen a cash injection of $2.5 million from Binance.  Binance will be investing AUD $3.48 million (about $2.5 billion USD) in Travelbybit with the purpose of continuing the growth of their POS network, following a successful implementation in Brisbane earlier this year.

Now the two companies will work together in introducing a point-of-sale (POS) system – already developed by TravelbyBit, according to Business Insider. Their objective is to skyrocket cryptocurrency adoption among travelers who commonly see issues in currency conversion and other markup fees.

Binance chief executive Changpeng Zhao said:

“Let’s start with airports and go from there…Real, on-the-ground, just-when-you-need-it use case is the key to further crypto adoption. In this light, there is no better fit than being able to use your crypto when travelling, just after you land in a foreign country, where you may not have the local currency.”

The idea of implementing cryptocurrency in airports is captivating indeed, where there are many areas that cryptocurrency would be of great help. Cryptocurrency is everyday increasing its adoption to the real world and it will be exciting to know in what more areas it will be implemented.

Cryptocurrency Exchanges are still a hot investment –  Coinbase now worths $8 Billion

Beginning from February the crypto market has been lowering in activity as Bitcoin, Ethereum, and other major cryptocurrencies struggled to initiate large movements on the upside due to their notable decline in value. However, large investment companies are full of great expectations and are placing long term bets on the cryptomarket by financing cryptocurrency exchanges.

Tech journalist Theodore Schleifer exclusively reported that Coinbase, the largest cryptocurrency exchange, will soon finalize a $500 million deal with Tiger Global, a large investment firm that deploys capital globally in both public and private markets.

According to sources, Coinbase will take $250 million in primary money and then receive $250 million in money to buy out existing shareholders, who previously invested in Coinbase at a valuation of $1.5 billion in August of last year.

Coinbase has indeed a promising future, in just the time of 14 months, Coinbase more than quadrupled its value from $1.5 billion to an impressive $8 billion, with the trading volume being around ten times greater and the user base seeing a massive growth.

CFTC Chairman talks about Cryptocurrency Regulation 

“A significant amount of laws and rules regulating the cryptocurrency turnover do not comply with today’s economic criteria,” expressed Christopher Giancarlo, the chairman of the Commodity Futures Trading Commission (CFTC).

The CTFC considers the issue of cryptocurrency circulation regarding the protection of institutional investors’ interests. And at the same time the US Securities and Exchange Commission (SEC) focuses on the lobbying of the middle and small investors’ interests, according to the expert.

The chairman believes that there are many leading sectors, and that if they would be properly regulated, they will develop rather successfully. Such development, according to him, can be explained to the particular part of the world interested in the proper functioning of the cryptocurrency market.

 

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