Daily Cryptocurrency News – 5th October 2018

We are glad to show to you the most exciting news for today. In this Friday, there have been some revolutionary events and agreements as well as good news for the progress of cryptocurrency.

Major League Triathlon to Pay Athletes with Bitcoin Cash Through Partnership with Bitcoin.com

The world of cryptocurrency is starting to include sports more and more nowadays. Especially with crypto partnerships with sports events and leagues.

In this case, The Major League Triathlon has just announced a revolutionary partnership with Bitcoin.com. MLT and Bitcoin.com teamed up to showcase the ease and efficiency of Bitcoin Cash (BCH).

Bitcoin Cash will be the Official Cryptocurrency of Major League Triathlon Charlotte. The top 5 athletes of the event will be paid prize money in Bitcoin Cash. This process will allow the athletes to receive their prize payouts within seconds of winning their medals.

“This partnership is a really special one for MLT,” said Daniel Cassidy, Chief Executive Officer of Major League Triathlon. “Cryptocurrency is a hot topic in the world right now, and there is no question that it provides a significant amount of benefit to the end user. With other major professional sports leagues across the globe beginning to bring Crypto into their sports, it is a huge step forward for MLT to partner with a world leader in the Cryptocurrency market.”

A revolution in the world of sports is starting, and cryptocurrency for sure will inevitably expand to other important sports and show efficiency and reliability as the future of money.

SALT Announces Litecoin as Collateral

SALT, the leading provider of large Blockchain-Backed Loans™ for cryptocurrency holders announces today significant updates in its platform as the company continues to expand on the market.

  • SALT has expanded the platform to integrate Litecoin — clients can now secure cash loans backed by Litecoin, Bitcoin, and Ethereum.
  • SALT is now offering US Dollar loans with interest rates as low as 5.99% for loans below $75,000 or as little as 11.99% for loans up to $25MM. For loans greater than $25MM, tailored options will be available. Loan amounts and interest rates will vary by jurisdiction.

Countries are Fighting to Appeal to Crypto Businesses: Sign of Massive Demand

A growing competition is starting to rise between small European nations that are looking to improve their economies by drawing cryptocurrency and blockchain companies into their borders and introducing regulation that can adapt to the blockchain industry.

Two of these nations, Gibraltar and Malta, are at this moment having a tight battle to win the favor of the cryptocurrency and blockchain industry, and due to recent geopolitical events in Europe, it seems now that Malta is pulling ahead in the competition due to its solidified position to stay in the European Union.

Despite the trend for DLT and blockchain companies to move to Malta, it does have its challenges due to political concerns. It is expected that the European Commission will be issuing formal binding demands on Malta’s financial regulator in order to reduce the number of illicit activities occurring in the country, such as money-laundering and corruption. Malta’s thriving economic success is also suspected to come from the result of less-than-noble actions.

The companies in the country could be at risk if the EU were to expel the country from the union, or mandated a leadership change.

However, Malta’s Prime Minister, Joseph Muscat, has previously discussed his country’s move to be a cryptocurrency haven, saying:

“Over the last months, the Maltese government has actively solved how to position Malta as a major hub in terms of the digital economy, which will play a central role in the economic sustainability of the years to come.”

What will the future be for Malta? Will it become a cryptocurrency haven or fail in that purpose?

Bitcoin Cash ATMs Increase in Europe

The number of cryptocurrency ATMs has grown in Europe and it is expected to keep growing faster. Reports say that the most likely reason for this move is the increasing number of Bitcoin Cash (BCH) adoption. In fact, according to CoinAtmRadar, more than 170 Bitcoin Cash ATMs have been installed. It also says that currently there are more than 3,800 cryptocurrency ATMs and around 140,000 other cash-crypto exchange in 80 countries.

What potential does this have in the long term? The exponential growth of the presence of ATMs will indeed increase the interest of people to enter the world of cryptocurrency.

South Korean Giant Bithumb is Launching a Decentralized Exchange

Bithumb, a major cryptocurrency trading platform that is located in South Korea, now has revolutionary plans to operate a decentralized exchange in the upcoming months. This has a competition with the Binance’s news of launching a decentralized exchange by 2019.

Bithumb wants to target the global cryptocurrency market and launch under an international subsidiary outside of South Korea. The decentralized exchange is being developed in collaboration with One Root Network (RNT), a platform which already has deployed before a decentralized exchange in early 2018.

The platform is planning a strategy to compete with other leading exchanges within the global marketplace. Decentralized exchanges are attracting a lot of interest in the crypto ecosystem and will most likely continue to dominate headlines.

 

If you missed yesterday news, you can check it out here: Daily Cryptocurrency News – 4th October 2018

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