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Singapore Startup CSE Debuts Smart Contract 2.0 tool




Singapore-based startup CSE SG Pte Ltd unveils the Smart Contract 2.0 solutions which runs on their CSE 3.0 platform. At the recent Singapore Fintech Festival 2018, Mr Chen Guo-ping, CTO of CSE Singapore explains that while blockchain was initially focused on the financial sector, but other sectors such as: agriculture, logistics, education, supply-chain management, healthcare, and banking are now starting to apply blockchain technology to enhance their business processes.

Mr Leo Lu, Board Advisory Member (R&D) of SRI Capital, finds CSE very innovative in the blockchain space with a lot of application usage base, which allows CSE to be the next generation — the 3.0 of blockchain. Leo, who is also part of the Business Development team of CSE in the USA, reveals that over the last 2.5 years CSE has invested in Smart contract 2.0, a tool that allows an average user without coding experience, technology experience or legal background to create their own contract.

Mr Adrian Burgi, an attorney from Switzerland specializing in the banking industry, highlights that the blockchain technology is disrupting the financial industry. Adrian explains that some blockchain players are differentiating themselves in terms of security and speed, and he thinks that CSE is a good competitor in these aspects.

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Crypto Exchange Bitsane to Announce a New Game-changing Feature – Active Trade Orders Editing



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Bitsane announced the launch of a new option – the ability to edit active orders, which is now available to Bitsane users. This exclusive option allows traders to adjust the price and the volume of their active orders. In this case, the price of an order may be changed by up to 5%, and the change of order volume will not be limited. This option enables users to respond to the currency fluctuations, avoid mistakes, and to achieve the maximum result while trading is conducted on the Bitsane platform.

A significant increase in the number of market participants demonstrates the main rule: when trading platform is selected, users put first usability, safety and advanced trading opportunities. It has motivated the Bitsane team to introduce the option which has been mentioned.

For three years, the team has been improving and developing the service for users. Bitsane has integrated with TabTrader Trading Terminal, granting its users the opportunity to utilize all the tools for trading within one app. Platform has listed new currencies one of which is Tether and has become the first exchange to add unique Tether/Euro trading pair.

Bitsane is a European cryptocurrency exchange which was launched in 2016. A convenient system of cross-currency trading allows users to choose the desirable pair for trading, and thus grants the ability to save both time and money. Users’ funds are effectively protected by a “cold storage” system with an enhanced level of security. These advantages create a perfect basis for an active trading.

Over 20 top popular cryptocurrencies are available on the trading platform, such as BTC, LTC, ETH, USDT, XRP, EUR, USD, BCH, BSV and others.

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ChainFront Announces Support for Ripple and Ethereum



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ChainFront, an API-as-a-Service company that removes the complexity of using, building, and managing blockchain wallets while maintaining enterprise-grade security, today announced the launch of Ripple and Ethereum integration to the ChainFront API platform. Now, developers creating applications built on the Ethereum or XRP Ledger blockchains can eliminate the need for end-users to manage their own security and bank.

ChainFront allows developers to provide their users with a secure and easy way to approve transactions without the need for them to manage their own private keys. With the launch, developers can empower end-users, be they consumers or inside of enterprises, to easily execute transactions with username, password, and multifactor authentication. Developers building applications that want to execute XRP or Ethereum transactions can request an API key at

“The XRP Ledger and Ethereum are at the forefront of blockchain development. With some of the fastest transaction times, XRP may be one of the first cryptocurrencies to gain widestream consumer and enterprise adoption and Ethereum has the most global active users aside from Bitcoin. But like all blockchains, wallets still present a challenge to application developers and their subsequent end-users. With the launch of our API for Ripple and Ethereum, ChainFront has created a way for developers to remove the complexity of interacting with Ripple or Ethereum for anyone,” said Alan Warms, CEO, ChainFront.

Blockchain wallets allow-end users to store private keys and execute transactions. However, if a user loses their on-device wallet (on a mobile device, or browser) via a hack, theft, loss of the device, or an upgrade, and they fail to backup their private keys, their ability to execute transactions and access their cryptocurrency is gone forever.

With ChainFront, backing up keys and needing to keep track of an on-device wallet is completely removed from the equation and developers can create secure, simple user experiences. Private keys are created within the secure area and never transmitted elsewhere. ChainFront utilizes Vault by HashiCorp as a virtual Hardware Security Module. Vault is a secret key management and data protection tool which offers code-loading support, and powers all of the cryptographic operations in the ChainFront platform. The service is deployed in private subnets of Amazon Web Services (AWS), unreachable via the public internet, using the AWS security model. This security model provides confidentiality, integrity, availability, accountability, and authentication. AWS also provides multi-regional backups and redundancy. FIPS 140-2 compliance is available.

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Analyst Research: A Comparative Study Between PrimeXBT and BitMEX




The current crypto winter of 2018-2019 has brought with it a number of dramatic changes to the cryptocurrency market. Some altcoins have fallen over 90% from their all-time high. Crypto firms have been forced to lay off employees and restructure. And gone are the days when investors would simply HODL their assets and reap enormous gains.

With profits far more difficult to come by using traditional strategies, many traders have turned to BitMEX due to the platform offering advanced trading features such as 100x leverage and the ability to short-sell assets and profit off of falling crypto prices.

Over time, BitMEX has earned itself a leadership position as a result and boasts some of the highest trading volume in the entire crypto space. However, a newcomer backed by decades of brokerage experience has entered the market, offering not only the same features that helped BitMEX ascend to the top, but a wealth of other benefits that BitMEX cannot claim to offer.

A comparative study was conducted in order to find out if PrimeXBT will take the throne from BitMEX and capture crypto market share by attracting traders seeking more out of their trading experience.

PrimeXBT Versus BitMEX: Important Features Compared

The research starts with a focus on the features the two exchanges offer that are similar, and are part of what helped make BitMEX a success during the current crypto bear market.


Both BitMEX and PrimeXBT offer traders the ability to short-sell assets, allowing traders to profit during downtrends. The feature is what helped put BitMEX on the map and is already part of what attracted over 150,000 users to sign up to PrimeXBT before the platform’s launch, with more rapidly joining each week.

Low Fees

While the two platforms appear very similar at first glance, this is where the differences between the two become more apparent.

Compared to Bitfinex’s 0.1% to 0.2% fees on trades, BitMEX offers low 0.075% fees on Bitcoin trading, but charges a staggering 0.25% on other trading pairs. PrimeXBT easily trumps them both with a standard 0.05% fee across all trading pairs. To incentivize new users joining the platform, PrimeXBT offers a discounted fee of 0.025% during a trader’s first month using the platform. Users must register for a free PrimeXBT account before March 10, 2019 to take advantage of the 50% off promotion.

100x Leverage

Trading with leverage is an extremely attractive option that allows a trader to risk less capital but multiply potential gains by 100 times. Both PrimeXBT and BitMEX offer industry-best 100x leverage, however, BitMEX only offers this level of high leverage on Bitcoin-based trading pairs. PrimeXBT, on the other hand, offers 1:100 leverage across all available assets including Bitcoin, Ethereum, EOS, Ripple and Litecoin.

PrimeXBT Versus BitMEX: Which Platform Offers The Most to Traders?

The study also focused on any features unique to each platform. Research shows that PrimeXBT boasts a number of features that BitMEX simply does not. The one “feature” BitMEX users routinely report that isn’t found on PrimeXBT are “order submission errors.”

Technical Analysis Tools

PrimeXBT has all the required tools to perform advanced technical analysis across crypto assets. The robust toolset includes a number of important indicators that can help traders gain an edge in the market and become more profitable.

Aggregated Liquidity

Only PrimeXBT offers aggregated liquidity from 12 industry-leading suppliers. BitMEX doesn’t even come close.

Multiple Funding Methods, No Minimum Deposit

BitMEX only allows traders to fund their accounts using Bitcoin and all contracts are settled in Bitcoin. PrimeXBT, however, lets traders deposit USD, EUR, and other cryptocurrencies in addition to Bitcoin. On Prime XBT, there is no minimum deposit. BitMEX requires a 0.001 BTC minimum.

Customizable Experience

PrimeXBT invites traders to make the platform their own by customizing it with a variety of widgets. In addition, PrimeXBT supports multiple-screens for the most advanced traders who demand the best experience the crypto industry has to offer.

Unmatched Affiliate Program

PrimeXBT is hands down an industry leader with its affiliate program, which has helped the platform “go viral” and generate significant buzz surrounding the platform’s launch. PrimeXBT’s 4-level referral program offers ten times the payouts of any other platform in the industry, including BitMEX. The program also offers lifetime payouts and referrers will even earn revenue on 2nd, 3rd, and 4th tier referrals.

PrimeXBT Versus BitMEX: Conclusion

With features like 100x leverage and the ability to short-sell assets during a bear market, it’s no surprise that BitMEX has enjoyed a comfortable position as an industry leader. But with the emergence of PrimeXBT, many of BitMEX’s key features are being overshadowed by the newcomer.

Once the market full of traders at large catch wind of PrimeXBT’s features and its potential to drive profitable trades, it won’t be long until PrimeXBT challenges BitMEX for the throne.

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Stablecoins Like Gemini Dollar Strengthen the Case for Crypto E-Commerce




Following Chimpion‘s January announcement that it would offer automatic stablecoin conversion for merchants, chairman Alex Arnaut spoke about the important role that stablecoins will play in the widespread adoption of crypto e-commerce. Arnaut showed particular enthusiasm for the new e-commerce project’s adoption of Gemini dollar (GUSD), the world’s first regulated stablecoin.

“Our team was very excited to add Gemini dollar to our starting lineup of stablecoins and to receive their support for the Chimpion project,” said Arnaut, who made a name for himself in the e-commerce industry as COO of Shopping Cart Elite before launching Chimpion. “As the first regulated stablecoin, Gemini plays a critical role in the crypto e-commerce space. It makes it so merchants can instantly convert crypto payments into a USD equivalent. Gemini dollar is a regulated, U.S. dollar-backed stablecoin, so holders don’t need to be concerned about the whereabouts of their funds.”

With the rapid rise of cryptocurrency in recent years, speculative behavior has caused considerable volatility in the overall market. This created a lot of buzz around cryptocurrency, but made it difficult for merchants to adopt it, as $1,000 worth of Bitcoin one day might be worth $600 the next. The need for a readily-convertible coin with relative stability sparked the emergence of stablecoins, cryptocurrencies backed with stable assets (typically the US dollar).

As a steady store of value, early stablecoins attracted significant popularity. However, the crypto community began to realize that the existence of the US dollars supposedly backing these stablecoins could not be verified, even if the issuer seemed trustworthy.

In 2018, GUSD was launched with regulation from the New York Department of Financial Services (NYDFS). As its website states, “Gemini dollar combines the creditworthiness and price stability of the U.S. dollar with blockchain technology and the oversight of U.S. regulators.”

With automatic stablecoin conversion, Chimpion merchants can set their wallet to instantly convert payments they receive in cryptocurrency into GUSD or other chosen stablecoin. From there, they can easily convert the stablecoin into their own fiat currency and invest it back into their business. This allows merchants around the world to take advantage of the speed, cost savings, and accessibility of crypto e-commerce without the uncertainty of the crypto market.

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JP Morgan is Rolling out the First US Bank-backed Cryptocurrency to Transform Payments Business




The lender moves more than $6 trillion around the world every day for corporations in its massive wholesale payments business. In trials set to start in a few months, a tiny fraction of that will happen over something called “JPM Coin,” the digital token created by engineers at the New York-based bank to instantly settle payments between clients.

J.P. Morgan is preparing for a future in which parts of the essential underpinning of global capitalism, from cross-border payments to corporate debt issuance, move to the blockchain. That’s the database technology made famous by its first application, bitcoin. But in order for that future to happen, the bank needed a way to transfer money at the dizzying speed that those smart contracts closed, rather than relying on old technology like wire transfers.

“So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction,” said Umar Farooq, head of J.P. Morgan’s blockchain projects. “The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions can use this.”

For some, J.P. Morgan’s new currency may come as an unexpected development for a technology that rose from the wreckage of the financial crisis and was supposed to disrupt the established banking world.

When the international payments are tested, it will be one of the first real-world applications for a cryptocurrency in banking. The industry has mostly shunned the asset class as too risky. Last year, J.P. Morgan and two other lenders banned the purchase of bitcoins by credit card customers. And Goldman Sachs reportedly shelved plans to create a bitcoin trading desk after exploring the idea.

Though holders of digital currencies may seize on the news that a major financial institution is issuing its own crypto as bullish for the asset class, retail investors will probably never get to own a JPM Coin. Unlike bitcoin, only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens.

There are other key differences between the bank’s crypto and bitcoin, which J.P. Morgan CEO Jamie Dimon has bashed as a fraud that won’t end well for its investors. (To be clear, he and his managers have consistently said that blockchain, as well as digital currencies that were regulated, hold promise.)

Each JPM Coin is redeemable for a single U.S. dollar, so its value shouldn’t fluctuate, similar in concept to so-called stablecoins. Clients will be issued the coins after depositing dollars at the bank; after using the tokens for a payment or security purchase on the blockchain, the bank destroys the coins and gives clients back a commensurate number of dollars.

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Crypto Exchange Binance Says it’s Still Profitable Even in this Bear Market



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Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.

Fast forward to 2019, and Binance’s trading volume — though significantly lower than it was during late 2017’s mega-rally — is the envy of other major venues. It is the largest virtual currency exchange by volume, according to CoinMarketCap, hosting $715 million in trades in the last 24 hours.

The firm hired Wei Zhou to take charge of its finances in September 2018. The executive has previously served in CFO roles at Chinese jobs site Zhaopin and TV ad company Charm Communications, navigating both businesses through their respective initial public offerings.

Asked whether Binance could seek a stock market listing of its own, given his background, he said there were “no plans” in the short term.

Wei Zhou is also credited as having orchestrated Chinese tech group Beijing Kunlun Tech’s acquisition of the gay dating app Grindr last year.

On the subject of potential mergers and acquisitions, he said “we’re always on the lookout for high quality products.”

Last year, the company bought crypto wallet maker Trust Wallet for an undisclosed amount and invested $2.5 million in Australian start-up TravelbyBit, which lets users book flights with cryptocurrency.

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Quadriga Fuels Race Among Lawyers For Slice of Lost Millions




Canada’s top law firms are set to converge this Valentine’s Day on a Halifax courtroom, competing for a piece of the C$260 million ($196 million) mystery behind the Quadriga CX cryptocurrency exchange.

The lawyers are contending for the right to represent some 115,000 Quadriga customers who are owed about C$190 million in Bitcoin and other digital assets plus another C$70 million in cash in court proceedings involving the shuttered Vancouver-based exchange. Quadriga was granted creditor protection last week in Nova Scotia Supreme Court, halting any lawsuits while the firm seeks to restructure with the help of Ernst & Young.

Bennett Jones LLP and McInnes Cooper were first to submit a request to represent users, with retail investor Tong Zou claiming he was “one of the largest affected individual users” and forwarding his name in an affidavit that included five other named account holders. Since then, one of those holders has withdrawn from the group, leaving 141 affected users with C$11.9 million of cash claims and C$1.11 million in cryptocurrency, according to a Feb. 11 court filing.

Others law firms have come forward, filing competing submissions ahead of Thursday’s hearing before Nova Scotia Supreme Court Justice Michael Wood, who may then appoint counsel to represent those account holders. For the law firms, such an opportunity would give them a slice of the administrative charges from the process to cover their professional fees.

Osler, Hoskin & Harcourt is working with Patterson Law and seeking to represent people such as Richard Kagerer, a software consultant from British Columbia who’s owed C$19,900 in crypto and U.S. dollar balances. He’s been down this road before: Kagerer’s company is one of the creditors for Japan’s Mt. Gox exchange, which entered insolvency proceedings in 2014. Kagerer also said in his Feb. 11 statement that he was “among a small number of customers” who filed claims in court when another Canadian cryptocurrency exchange shut down a few years ago.

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First U.S. Pension Funds Take the Plunge on Crypto Investing




Morgan Creek Digital has scored what it says is probably the first investment in the crypto asset universe from a U.S. pension fund. Two pension plans in Fairfax County, Virginia are anchor investors in a new $40 million venture-capital fund, according to a statement from the company. Other investors include an insurance company, a university endowment and a private foundation, said Morgan Creek Digital founder Anthony Pompliano, who declined to provide further details.

Many institutional investors, which crypto enthusiasts believe will be drawn to digital assets because of their volatility and potential out-sized gains, have been deterred by market manipulation and a lack of regulation. The Virginia pension funds join a handful of institutions to invest in the crypto world, including Yale University, the second-largest endowment in higher education that invested in a digital assets fund last year.

Fairfax County Retirement Systems manages three separate defined benefit plans, two of which invested in the Morgan Creek Digital fund, said Pompliano. Katherine Molnar, chief investment officer of one of the funds, said in a statement that blockchain technology, which was first developed to record the movement of Bitcoin, is an “emerging opportunity” that offers an “attractive asymmetric return profile.’’

Pompliano said his new fund is structured like a traditional venture capital fund that will invest in the equity of companies in the blockchain and digital assets industry. The fund will also hold a small percentage of its value in liquid cryptocurrencies, such as Bitcoin, said Pompliano. Bitcoin lost about 75 percent of its value in 2018.

“There’s a belief in the institutional world that if the industry will be around for a long time, it will be very valuable,’’ Pompliano said in a phone interview. “The smart money is not distracted by price but looks at the long-term trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.’’

Morgan Creek Digital, which is an affiliate of the investment manager Morgan Creek Capital Management LLC, exceeded its original target of $25 million for the fund. Its pitch: all traditional assets will eventually be represented by digital tokens, while the influx of intellectual capital into digital assets will create positive returns. It also argues that cryptocurrencies are not correlated to traditional assets, giving investors unique exposures.

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Global Payment Processing Netpay Partners with BNC LedgerTech



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Global payment processing firm Netpay International has partnered with BNC LedgerTech to provide blockchain-based services to its customers. BNC LedgerTech is an Israeli blockchain firm behind the digital banking solution called ‘Ubanker’. Though the solution runs on blockchain technology, the company is using the existing remittance infrastructure in the banks such as SWIFT and SEPA to provide the proof-of-funds and security to maintain the standard KYC/AML requirements.

Founded in 2018, BNC LedgerTech has already partnered with four FinTech companies. The company was founded by Daniel Tsafir, who is also holding the position of CEO at the firm, along Alon Elbaz, a payment industry veteran.

Ubanker serves both B2B and B2C clients and complies with the EU central bank regulatory frameworks. The company also holds an EMI license to provide is financial services and has developed its own blockchain to assure scalability.

With its blockchain-based solution, the firm is targeting the lucrative remittance industry. Unlike banks which charge a percentage of the total transferred amount, BNC LedgerTech is only charging a fixed minimum fee.

Netpay, on the other hand, is one of the old players in the payment processing industry. According to its website, the firm has partnered with more than 100 banks worldwide to ensure secure transactions in any part of the world.

The partnership with BNC LedgerTech will allow the firm to slowly migrate to the distributed ledger technology.

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Ontario Securities Regulator Looking Into Digital Platform Quadriga




Canada’s biggest securities regulator said on Friday that it was looking into Quadriga CX, as concerns grow that a regulatory gap leaves investors in the digital platform unprotected against potential losses.

The statement comes a day after British Columbia Securities Commission, the province’s securities regulator, said it does not regulate Quadriga CX, whose founder died in December, trapping millions of dollars in cryptocurrencies in its accounts.

“Given the potential harm to Ontario investors, we are looking into this matter and have already been in contact with the monitor,” the Ontario Securities Commission said in a statement emailed to Reuters.

OSC spokeswoman Kristen Rose declined to say if it was an investigation. The Quadriga CX situation highlights a regulatory vacuum for the cryptocurrency industry in Canada and raises questions about who would be held accountable for any potential losses.

The OSC could review the matter to see if Quadriga has breached any securities laws, said Allan Goodman, co-chair of the technology group at law firm Goodmans LLP. “For example, should (Quadriga) have been registered as an exchange and were any securities laws breached with respect to the trading of the coins on the exchange?”

About C$180 million ($135.7 million) in cryptocurrencies have been frozen in Quadriga’s user accounts since its founder Gerald Cotten, the only person with the password to gain access, died suddenly in December.

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