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Switzerland Embraces Crypto With Fund License for Startup




Crypto Finance AG has obtained the same license as professional fund managers from Switzerland’s financial regulator as the country pushes to become a leader in the growing virtual-currency industry.

The Zug-based company is now being recognized as an asset manager of collective investment schemes, meaning it can manage and distribute domestic and foreign funds and provide advice to investors, the company said.

“The importance of crypto assets is growing and our aim is to accelerate maturity in these markets,” Chief Executive Officer Jan Brzezek said in a statement on Tuesday. “FINMA authorization is an important acknowledgment of Crypto Fund and for crypto assets around the world.”

Obtaining the license removes a hurdle for the company of former UBS Group AG banker Brzezek, allowing it to cater to wider group of professional investors managing crypto funds in Switzerland after getting a license to distribute investment schemes in the country earlier this year.

With regulators globally pursuing crypto startups for non-compliance, companies from the U.S. to Europe have been seeking regulatory licenses to stand out from the pack and to appeal to jittery investors as the safer option. In the U.S., multiple companies have sought regulatory approvals and even acquired broker dealers to provide a broader offering of services, particularly to institutional investors.

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Bitcurate Launches Crypto Market Intelligence Platform to Provide Support to Investors



Crypto Exchange

Bitcurate today launched its crypto market intelligence platform, which utilizes expert analysis, natural language processing (NLP), and machine learning to provide real-time insights and data analysis for investors. The program dashboard is personalized according to cryptocurrencies, empowering investors with evidence-based insights as the crypto market moves.

“Bitcurate knows that the best investment strategies are data-driven,” says Victor Lee, CEO of Bitcurate. “However, the market today is fragmented, making it difficult and time-consuming for investors to find the accurate, wide-ranging information they need to make calculated decisions. That’s why our platform tracks millions of data points every day, streamlining comprehensive crypto information into the market intelligence you need, when you need it.”

Bitcurate’s big data approach crunches data points from across social media, chats and forums, trading data, exchange APIs, the crypto futures market, and other financial instruments, processing 5 million-plus sentiment data points daily. Meanwhile, Bitcurate’s sentiment analysis engine verifies and monitors news sources and live sentiment for the most comprehensive insights, with an accuracy of 86%.

“Ninety percent of crypto movements are sentiment-driven, but there’s a lot of noise happening in the market right now,” says Daren Tan, CTO of Bitcurate. “We use the latest sentiment analysis tools and industry standard quant analysis from Wall Street to process and analyze millions of data points, to understand the nuances and provide crypto investors with the knowledge they need to invest with confidence.”

Bitcurate subscribers can personalize their dashboard to follow the cryptocurrencies they seek and quickly grasp critical information, including the real-time exchange rate, sentiment score as determined by Bitcurate’s proprietary algorithm, recent price changes, market capitalization, and circulating supply. Users can also catch up on the latest cryptocurrency news thanks to a news and tweet feed, as well as receive real-time alerts for any breaking news or major market changes. Meanwhile, a coin list also ranks all cryptocurrencies by dollar value, volume, sentiment, and Bitcurate rating. Currently, Bitcurate is in an exclusive invite phase for beta customers.

Bitcurate was founded in 2018 by CEO Victor Lee and CTO Daren Tan in the aim to equip crypto investors with straightforward, evidence-based information. The team is comprised of diverse talents from across the finance, corporate, data science, and product industries, as well as former employees of Omnicom, Facebook, SCB, Zhongan and Loopring.

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Cyberspace Administration of China Announces Rules to Regulate Crypto Startups



Crypto Startups

The Cyberspace Administration of China (CAC), the central government’s internet censor, published a draft policy on Friday called “The Regulation for Managing Blockchain Information Services” and is looking for public feedback before it can take effect.

The regulation , if enacted, would apply to any entity that is regarded as a blockchain information service provider operating in China, and would be one of the first rules specifically for governing the blockchain industry in the country.

The CAC defines in the draft that blockchain information service providers are “entities or nodes” that offer information services to the public – meaning “both institutions and individuals” – using blockchain technology, and via desktop sites or mobile apps.

As part of the total 23 articles proposed in the draft, the CAC requires blockchain service providers to register with the agency within 10 days after it starts to offer products to the public.

The proposed draft orders that blockchain startups must register their names, service types, industry fields, and server addresses with the CAC. This information shall become publicly available and the CAC will conduct reviews on a yearly basis, the draft policy added.

While the CAC does not draw a clear line as to what types of blockchain startups should fall under its definition, some industry experts in China said this regulation could have an impact on supernodes of certain blockchain networks.

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THEIA Cryptocurrency Wallet Announces the 2.0 Version



Cryptocurrency Wallet

THEIA cryptocurrency wallet, as the world’s leading cross-chain wallet, announced that its 2.0 version had been officially launched online. The highlight of this round is that THEIA wallet has established a new portal to offer quantitative finance services, and integrated with the strongest quantitative trading teams, which are LANCHAO, Coinsea, Kronos and InvestDigital. Based on the user-oriented belief, THEIA wallet has established strategic cooperation with the above four professional digital quantitative trading teams to provide users with various digital asset management and value-added tools.

THEIA wallet is a cross-chain multi-crypto-currency wallet which is designed to build a new wallet ecosystem around THA coin. THEIA wallet not only has a breakthrough dual-track operational system which contains both password account and de-centralized account to meet the needs of users with different habits at different stages, but also is a one-stop application management platform which supports the transaction and management of multi-crypto-currency.

“Quantitative finance is not a stranger in the financial sector,” the founder of the THEIA wallet, Jin Huayue said. There are numerous quantitative trading teams in the world, and this sector has become a red sea in the traditional financial market. However, the digital currency market is still to be explored, which remains a blue ocean market with great potential for development. Meanwhile, the volatility of the market and the trading characteristics of crypto-currency also enable the quantitative finance to reach higher yields.

As a powerful team, LANCHAO investment fund’s monthly average interest rate of BTC is 9.3%. Inspite of the downturn of the industry, the annualized interest rate of LANCHAO still remains 26.6%. This excellent performance depends on the fact that the team members are all elites in their respective fields, and can exploit and superimpose their respective advantages in the field of crypto currency from various dimensions.

Coinsea quantitative finance was established in April 2018. In June, its product KeYingBao were awarded as the monthly champion of the CSI Wolf of Wall-Street’s Digital Currency Trading Competition. Coinsea believes in “stability is everything.” Every strategy is debugged tens of thousands of times with the professional selection and real-estate verification before the official launch. Therefore, it ranks top on the fund ranking list in terms of stability and profitability all around the year.

KRONOS, founded in June 2018, is a leading digital crypto currency management services team. Most of the team members graduated from top universities in the world, and had decades of experience in high-frequency trading companies as well as multiple experiences in alpha research and digital crypto market in the United States. KRONOS is an open, multi-strategy crypto-currency hedge fund whose aim is to take on targeted risk, which makes KRONOS have the ability to trade more capital and create sustainable advantages for the future.

InvestDigital’s mainly business model is “blockchain plus digital currency management.” It uses the technology of blockchain, such as certificate deposit, upper chain and intelligent contract, to help the digital currency fund complete the process of the “raise, investment, management and withdrawal.” Its professional team managed more than 20,000 ETH, 3,000 BTC and other digital currencies (about 200 million RMB), and the overall product return rate in 2017 was hundreds of times higher than that of traditional asset management.

The launch of the 2.0 version of THEIA wallet means that it will fully deploy digital cryptocurrency to quantify financial management. This strategic deployment is ahead of all block chain wallets in global cryptocurrency area. In the future, THEIA wallet will continue to integrate more professional quantitative ecology, open cooperation and build a world’s leading one-stop management platform for digital assets. From what has been discussed above, THEIA wallet may be able to dominate the blockchain wallets field in the future.

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Crypto M&A is on a Tear as Deal-Makers See Opportunity in Bitcoin’s Price Slump




Deal-makers seem to be anything but deterred by bitcoin’s price pain this year — they’re actually using it as an excuse to go bargain hunting. Despite the ongoing bear market in the sector, merger and acquisition activity by cryptocurrency companies among themselves and by companies hunting for bitcoin’s underlying technology is hitting record levels.

Total blockchain and crypto-related deals have surged more than 200 percent at an annualized rate this year, according to data from PitchBook that was compiled by JMP Securities. Bitcoin, meanwhile, has lost 54 percent of its value.

As of Monday, 115 deals involving cryptocurrency or blockchain had been announced, on pace to hit 145 by the end of 2018. The count is up significantly from the 47 total deals completed last year, when bitcoin’s price was surging to almost $20,000.

While JMP didn’t have data on the average size of the deals, since many of the details are private, the firm said a majority of the M&A transactions are global in nature and “relatively small” at less than $100 million. The PitchBook data includes majority investments, partial liquidation and full acquisitions.

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Mining Power Group Significantly Expands Cryptomining Data Center Hosting Facilities



Mining Power Group

Mining Power Group, Inc., (the “Company” or “RCGR”), announced today that its majority-owned subsidiary, Northway Mining, LLC, (“Northway”) which offers highly specialized data center hosting services for cryptomining, has acquired an additional 66,000 square foot building, located at 2 Flint Mine Road, Coxsackie, New York, for use as a cryptomining data center.

The Company had previously announced that it had acquired a majority interest in Northway Mining, which included real estate assets of substantial value including 30 acres of flat surrounding land that can be used for future expansion of Northway’s data center facilities. Northway at that time had 5000 square feet of secure crypto mining space. This transaction provides additional square footage for the Company’s planned expansion.

Northway is a cryptocurrency mining hosting facility that provides hosting, electricity, cooling, maintenance, insurance, downtime coverage, OS installation (GPU) assistance, setup and security, and more, including especially low rates for electricity, that reduces client costs and is a major competitive advantage in the marketplace.

Dror Svorai, President and CEO, stated,

“This additional 66,000 square foot facility also has 15 Megawatts of power on site, expandable to 100 Megawatts, and, with a power station literally next door, we now have a 1,000 Megawatt capability. This purchase represents over a $1Million investment, long term, in the facility given that $950,000 was paid for the building which will now have over $50,000 additional invested in it in improvements to facilitate the data center operations. This acquisition will allow us to quickly accommodate a substantial number of additional clients, generating more revenues for the Company.”

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Huobi Wallet now supports TUSD, DAI, PAX, EURS, GUSD, and USDC



Huobi Group

In light of recent customer demands, Huobi has upgraded Huobi Wallet, its professional multi-chain light wallet, to support six additional stablecoins.

In addition to Tether (USDT), Huobi Wallet now supports True USD (TUSD), Dai (DAI), Paxos Standard Token (PAX), STASIS EURS (EURS), Gemini Dollar (GUSD), and USD//Coin (USDC), making it the first wallet to support all seven coins.

“Huobi believes in giving users maximum flexibility and choice when it comes to handling their digital assets so this upgrade was a natural move for us,” said Huobi Vice President Livio Weng.

Consisting of ten upstream and downstream enterprises, Huobi Group is the world’s leading blockchain company. Establishment in 2013, Huobi Group’s accumulative turnover exceeds $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries.

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Aidemy is Offering an Online Learning Platform Specialising in Blockchain Programming




Aidemy is the learning platform where students can learn how Bitcoin and Blockchain work with Aidemy’s coding exercises. According to a report prepared by Satis Group Crypto Research, around 81% of the total number of initial coin offerings launched since 2017 have turned out to be scams.

To solve this problem, the “Beginners for Blockchain” course by Aidemy will educate all investors about all things Blockchain and cryptocurrency that are vital to success. Students can now easily learn the notion of Blockchain through coding exercises which implement “mining”, “Adding transactions”, and “consensus algorithm”. Aidemy has also prepared a fully interactive environment, enabling students to practice coding on their own web browsers.

“We will clear the hurdles to integrate technology and industry. Everyone needs to know about Blockchain, especially, people in the financial and tech industries. Aidemy supports people who try to integrate cutting edge technology in all areas of their business,” said Akihiko Ishikawa, Co-Founder, CEO of Aidemy Inc.

Pricing: 3 courses (Python Introduction, Numpy, Blockchain Basic) For Free

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Bitmain, Canaan and Ebang IPO Plans Snared by Trump’s Tariffs on Chinese Cryptocurrency Mining Gear



Cryptocurrency Mining

Chinese cryptocurrency mining hardware maker Bitmain is bracing for harder times as the China-US trade war shifts into high gear, with shipments to one of its overseas markets facing new tariffs since August 23.

That could be a problem for Beijing-headquartered Bitmain, which filed for a Hong Kong stock market listing in September, and is seen as the most exposed among Chinese mining hardware makers to US trade barriers, according to analysts.

The tariff, which affects all Chinese cryptocurrency mining equipment makers exporting to the US, has come a time when other players such as Cannaan and Ebang International have filed applications to list on the Hong Kong bourse.

The office of the United States Trade Representative in June categorised Bitmain’s mining hardware, called Antminer S9, as “electrical machinery apparatus” which is subject to a 2.6 per cent tariff. Previously the goods were classified as “data processing machine”.

The reclassification brought the mining hardware under the list of Chinese goods subject to the additional 25 per cent tariffs, which took effect in August. The outcome is that Chinese cryptocurrency mining gear makers now face tariffs on their US shipments of 27.6 per cent, up from zero previously. In September, Bitmain filed for a Hong Kong listing which would reportedly raise US$3 billion.

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SimpleFX Makes CFD Trading Fast and Easy Like Never Before with the Launch of the New SimpleFX WebTrader Tool



CFD Trading

SimpleFX, one of the fastest growing CFD platforms, has just released a new version of SimpleFX WebTrader with the goal of becoming the fastest and easiest of all trading tools available at present. The company has also joined hands with the affiliate tracking platform to help its clients enjoy real-time revenue tracking benefit and up to 40% share rates.

SimpleFX is pleased to announce the official release of the new version of SimpleFX WebTrader, a state-of-the-art tool that will make CFD trading effortless for all types of traders regardless of their trading experience. SimpleFX is a highly referred destination for trading CFDs on Forex, Cryptocurrencies (BTC/USD, LTC/USD, ETH/USD and more), indices, precious metals, and energy.  The platform offers a wide range of payment methods, including cryptocurrency deposits.

SimpleFX claims that the new version of their SimpleFX WebTrader is the simplest and the most powerful online trading tool that offers a high degree of speed and reliability. In order to deliver the best trading experience, the team has come up with a remodeled and more efficient trading engine that provides faster loading times and price updates. The new SimpleFX WebTrader is designed for mobile devices, and allows one tap trading. 

The new and improved SimpleFX WebTrader tool is an excellent app for learning the basics of day trading because it has now reduced the minimum number of actions needed to perform each trade. With the quick trading mode, the users can open and close orders, positions, and trades with just one click. By opening a fully functional demo account with no minimum deposits, the beginners can learn all the fundamental aspects of CFD trading. 

SimpleFX WebTrader is packed with an exquisite range of advanced features that will make trading more efficient and profitable for the seasoned traders. One of the most noteworthy features of the new version of SimpleFX WebTrader is its safe and secure API manager that allows the traders to plug-in any of their favorite automated trading, advanced analytics, or artificial intelligence modules. This new API manager also allows SimpleFX WebTrader to function as a powerful desktop trading app.


SimpleFX has also launched their content website with a dedicated editorial team. The objective of this website is to create online courses, classes, and tutorials for both beginners as well as experts in the field of trading. It will also feature plenty of news, updates, and market analysis for the day traders. 

Alongside the launch of the new version of SimpleFX WebTrader, SimpleFX has entered into a partnership with, a third-party affiliate management solution. This alliance ensures that all SimpleFX users will now have access to a stack of effective engagement tools helpful in building and activating their multi-level affiliate network. Management of affiliate partners will become much easier, with benefits such as real-time stats for clicks, views, conversion rates and multilevel revenue income. also helps track the affiliates on a map and expand the network with a great set of multilanguage designs for their campaigns. Most importantly, the lifetime revenue share rates stay high, reaching 40% of the spread ​on each SimpleFX transaction a recommended trader will ever make. 

SimpleFX has just introduced a limited-time cashback offer that cuts the spread on each trade by 20%, to encourage traders to try out their new product. This 20% Cashback promo started on October 10, and will conclude on November 8. 

Traders looking for a fast and reliable trading app with 1:500 leverage are encouraged to try   SimpleFX WebTrader without any delay whatsoever. 

About SimpleFX: SimpleFX is a robust online trading provider, offering CFD on Forex, Cryptocurrencies, indices, precious metals and energy. The company’s mission is to keep their offer and trading conditions simple and transparent.


Email: [email protected]

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Cryptocurrency Market Expands as Financial Institutions Explore Blockchain Applications




According to data compiled by Coherent Market Insights, the cryptocurrency mining market was valued at USD 610.91 Million in 2016. The market is expected to top USD 38.38 Billion by 2025 while growing at a compound annual growth rate (CAGR) of 29.7%. The rapid growth can be attributed to the rising adoption of cryptocurrency. Revenue from cryptocurrency mining comes from two sources, including block rewards and transaction fees in return to their efforts to process transactions through digital currency exploration systems. The U.S. and China dominate the global cryptocurrency mining market, accounting for over 70% of the market shares. Squire Mining Ltd. (OTC: SQRMF), Cisco Systems, Inc. (NASDAQ: CSCO), TD Ameritrade Holding Corporation (NASDAQ: AMTD), Sony Corporation (NYSE: SNE),, Inc. (NASDAQ: OSTK)

According to data from Coinmarketcap, the total market capitalization of all cryptocurrencies is about USD 211 Billion. The price of major cryptocurrencies rose higher on Monday as financial companies continue to explore applications of blockchain and digital assets. On Monday, Fidelity Investments announced to launch a new company Fidelity Digital Asset Services to offer enterprise-quality custody and trade execution services for digital assets, such as cryptocurrencies. Abigail P. Johnson, Chairman and CEO of Fidelity Investments, said: “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors.”

Squire Mining Ltd. (OTCQB: SQRMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: SQR). Last week, the Company announced that, “Ennoconn Corporation (“Ennoconn”) as our hardware manufacturer for next generation mining systems to mine Bitcoin Cash, Bitcoin and other associated cryptocurrencies. Ennoconn is a leading industrial motherboard designer and total hardware system solution provider headquartered in Taipei, Taiwanand listed on the Taiwan stock exchange (TPE:6414). In 2007, Foxconn Technology Group, the largest “Electronic Manufacturing Service” company in the world, became the majority shareholder of Ennoconn, forming a strong strategic alliance in embedded system and electronic manufacturing.

On August 21, 2018, Squire announced that AraSystems Technology Corp. (“AraSystems”), a subsidiary of Squire, had entered into a provisional non-binding agreement with a major global technology assembly company. This company, now revealed to be Ennoconn, will assist in the design and assembly of our next generation mining rig at such time as a working prototype of our debut ASIC chip is completed.

On October 3, 2018 Squire announced the successful completion and testing of its FPGA working prototype microchip, with early results of the terahash-to-energy consumption ratio, indicating that the final ASIC chip and mining system has the potential to reduce operational costs by up to 40% for enterprise mining facilities.

This cost reduction was estimated by one leading enterprise mining group to be worth up to $60M per year in savings to their operations alone.

The final ASIC chip and mining system together are expected to provide up to a four times improvement in the performance of mining the blockchain, a process that enables miners to be paid, thereby increasing the return on investment, and profit, for miners. Such calculations are based on comparisons with the majority of current generation mining machines operating inside enterprise facilities around the world.

Following this success, the Company has signed a binding Memorandum of Understanding with Ennoconn and funded work to commence Phase 1 design and development of AraSystem’s next generation mining system in collaboration with its partners in Taipei, Taiwan and in Seoul, South Korea. Definitive documentation will be entered into following delivery of final specifications and data sheets to Ennoconn later this month.

Squire’s engineers are currently working with Ennoconn to design and develop AraSystem’s mining rig which will house the debut ASIC chip currently under development by the Company’s subsidiary AraCore Technology Corp (“AraCore”), in conjunction with GaonChips and Samsung Electronics (see news releases dated September 25 and October 3, 2018). In turn, Ennoconn will be responsible for mass assembly of the mining rig once all design, development and testing work has been completed.

A prototype of the mining rig along with full specifications of the AraCore ASIC chip are expected to be presented at the CoinGeek Conference in London on November 28 – 30, 2018, with presales expected to commence on or around that date. Significant interest has already been expressed by several of the industry’s largest enterprise mining companies, which currently host hundreds of thousands of mining machines in their facilities across the world.”

‘We are very pleased to be partnering with the skilled engineers at Ennoconn, one of the world’s leading electronic manufacturing companies,’ stated Simon Moore, Executive Chairman and CEO of Squire. ‘As we launch our next generation mining rig with a suite of proprietary innovations, it’s imperative that our manufacturing partners have the talent, experience and capacity to not only deliver unique hardware, but also deliver best in class quality. We believe Ennoconn will help ensure the production of an exceptional mining rig for the marketplace,’ he said. Further, Mr. Moore noted, ‘based on initial interest from the sector, the potential for significant sales and the subsequent revenue for Squire is on track in the coming year which would make Squire and its partners a noteworthy industry provider of crypto mining hardware and next generation innovation on a global scale.'”

Cisco Systems, Inc. (NASDAQ: CSCO) is the worldwide technology leader that has been making the Internet work since 1984. As Cisco Systems considers the complexity and vastness of the journey it has been on with blockchain, it’s become evident there’s still more work to be done at the ecosystem level. Cisco is a big believer in strategic partnerships in the blockchain space – that’s why it is the co-founding members of the Trusted IoT Alliance and Hyperledger. Additionally, that’s why the Company has joined three more initiatives. Blockchain is but a tool in a big tool chest of technologies, but it’s an especially important one because it can be a binding factor to drive transformational change. The Company recently joined three more blockchain initiatives to help further advance research in a number of areas. It was only a matter of time until Cisco joined the Blockchain Research Institute. Founded by Don and Alex Tapscott, the co-authors of the book Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World, the Blockchain Research Institute (BRI) is a global think tank that helps organizations realize the promise of the digital economy by researching the strategic implications of blockchain technology and producing practical insights to guide its members in achieving success. “I’ve long found the research BRI has been doing across all sectors quite compelling. Now Cisco will help contribute to that research and gain access to others’ work as well. It’s so valuable to share knowledge and insight across industries to strengthen the whole blockchain ecosystem. And this will also help hasten adaptation among our customers and partners, helping them understand what blockchain is (and isn’t) and realize its business value,” said Anoop Nannra, Senior Leader and Head of Cisco’s Blockchain Initiative.

TD Ameritrade Holding Corporation (NASDAQ: AMTD) provides investing services and education to more than 11 million client accounts totaling more than USD 1.2 Trillion in assets, and custodial services to more than 6,000 registered investment advisors. After being among the first financial services firms to offer approved clients with access to bitcoin futures contracts last year, TD Ameritrade Holding Corporation recently announced that it has made a strategic investment in ErisX, a regulated derivatives exchange and clearing organization that will include digital asset futures and spot contracts on one platform. With in-depth experience delivering and operating a fully regulated marketplace, ErisX has entered into the digital asset space with a broad offering of both spot and futures contracts on one platform. ErisX has integrated digital asset products and technology into reliable, compliant and robust capital markets workflows. With a regulated, liquid and accessible offering, ErisX enhances the digital asset space for institutional and individual traders alike. “As a strategic investor in the initiative, we look forward to working with the team at ErisX as they develop and launch digital currency products designed to fulfill the needs of retail investors,” said JB Mackenzie, Managing Director Futures & Forex at TD Ameritrade. “ErisX’s plan is to offer traders access to cryptocurrency spot contracts as well as futures contracts on a single exchange.”

Sony Corporation (NYSE: SNE) the Company’s unlimited passion for technology, content and services, and relentless pursuit of innovation, drives it to deliver ground-breaking new excitement and entertainment in ways that only Sony can. Sony Music Entertainment (Japan) Inc., and Sony Global Education recently announced the development of a rights management system for digital content that utilizes blockchain technology. This new system is based on Sony and Sony Global Education’s previously developed system for authenticating, sharing, and rights management of educational data, and additionally features functionality for processing rights-related information. Blockchains create networks where programs and information are difficult to destroy or falsify, and are well-adapted for the free transfer of data and rights. Those traits give blockchains many potential uses across a range of services including finance, merchandise distribution management, and the sharing economy and blockchains are expected to bring about even more innovative services in the future. At present, they are also used in public P2P network transactions, primarily involving cryptocurrencies such as Bitcoin., Inc. (NASDAQ: OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. Overstock’s subsidiary, Medici Ventures, a global leader in blockchain technology, recently announced that its portfolio company,, has commenced the limited beta launch of a digital wallet service that creates a simple, secure, and convenient bridge between traditional fiat currencies and cryptocurrencies. The initial beta release of the technology will support bitcoin purchases, with additional cryptocurrencies to follow soon. Unlike other wallet providers which do not let users actually hold their coins by using only derivative claims on coins owned by the provider, Bitsy users hold the actual real bitcoins and have complete control over their funds, including the ability to move or spend cryptocurrency. Biometric security insures against hacks and lost passwords. In the event a wallet is lost or destroyed, Bitsy’s key recovery system offers a unique and revolutionary way to recover funds. “Bitsy sets a new standard for cryptocurrency wallets. It is a game-changer because it gives users the freedom that bitcoin has always promised,” said Patrick Byrne, Chief Executive Officer and Founder of “This new Bitsy wallet has extraordinary advantage in convenience versus anything currently on the market. In addition to setting a new standard for cryptocurrency wallets, integrating with Bitsy will allow Overstock to take the next step in its cryptocurrency journey by allowing the company to offer bitcoin for sale directly from the retail website.”

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