How XRP Price Could Plunge to Fresh Lows With BitMEX’s Swap Launch

On January 23rd, leading Bitcoin derivatives exchange BitMEX revealed its intent to launch a new financial product for XRP. In a blog post, the company said that this product would be a “Ripple USD quanto swap,” which will allow traders to leverage trade the cryptocurrency with leverage of up to 50x. According to a recent Twitter update from the cryptocurrency exchange, the XRP swap contract is on track to launch at 04:00 UTC on February 5th, 2020 — just a day away. We at BitMEX are proud to announce that trading…

Messaging Giant Line to Launch Link Token Trading for Japan in April

LVC Corporation, the crypto subsidiary of messaging giant Line, will launch trading of its proprietary cryptocurrency Link in Japan in April. According to a press release on Jan. 30, LVC is also developing a system meant for Link’s debut in Japan on its local cryptocurrency exchange BitMax.  Line already began Link trading on its international BitBox cryptocurrency exchange in mid-October 2018. Due to stricter national cryptocurrency regulations in Japan, LVC had to wait to obtain a license from local financial regulators in September 2019 before launching its BitMax cryptocurrency exchange…

Overstock’s tZERO to Launch Broker Dealer in First Half of 2020

Overstock’s blockchain arm tZERO aims to launch its cryptocurrency and digital asset broker dealer service in the first half of 2020. In a letter to investors released on Jan. 30, tZERO CEO Saum Noursalehi provided a recap of the company’s progress over the last year and highlighted tZERO’s goals for 2020. One of the main objectives of the company is to roll out a digital assets broker dealer in the first half of the current year, dubbed tZERO Markets. Noursalehi said that the company is working closely with regulators on…

Deribit to Launch Daily BTC Options as Regulated Competition Heats Up

Deribit is launching daily options as the exchange faces increasing competition in the crypto options market. Deribit announced this week it would begin offering daily bitcoin index options Feb. 3. Scheduled every day at 08:00 UTC, users will be able to begin trading options at a strike price of $125. Contracts expire two days after being listed. The exchange will try to offer contracts that move within a 5-percent range around at-the-money (ATM) levels, Deribit’s post said. The news gives traders a much wider range of expiry dates, and the…

The National Bank of Cambodia Will Launch a Digital Payments Network This Quarter

The National Bank of Cambodia’s new digital currency is called Bakong.  It’s effectively a central bank digital currency (CBDC) that was launched on a trial basis throughout Cambodia in July. Chea Serey, director-general of the National Bank of Cambodia, said the system will be operational within the present fiscal quarter. Serey described Bakong as “the national payment gateway for Cambodia.” Bakong will play a central role in bringing all players in the payment space in Cambodia under the same platform, making it easy for end-users to pay each other regardless…

Blockchain.​​​​​​​​com Is The Latest to Launch A Fiat Gateway For This Pro-Crypto Country

United Kingdom-based cryptocurrency data and wallet provider Blockchain.com has launched a gateway for the Turkish lira on its crypto exchange. Blockchain.com is the latest major crypto exchange to join the growing roster of crypto platforms with a direct gateway for the Turkish lira, according to a press release published on Jan. 29. Blockchain has launched full banking integration to enable users to deposit and withdraw TRY on the exchange platform. Crypto users from Turkey don’t need a third-party payment method to buy and sell crypto on Blockchain.com Exchange. The release…

Largest Japanese Consulting Firm to Launch New Cryptocurrency Index

Leading Japanese consulting firm Nomura Research Institute (NRI) partnered with cryptocurrency investment solution provider Intelligence Unit (IU) to launch a tradable cryptocurrency index. According to a press release published on Jan. 29, the new index’s name is NRI/IO Crypto-Asset Index and it is meant for use by financial institutions. The index also draws data from crypto index platform MVIS and major cryptocurrency data platform CryptoCompare. The dedicated website explains that the index is meant to cover global crypto markets in U.S. dollars and Japanese yen by tracking the largest cryptocurrencies.…

Swiss Firm Poised to Launch Compliant IPO on Ethereum Blockchain

Swiss regulators have given the go-ahead for what is purportedly the country’s first fully compliant initial public offering (IPO) on a blockchain. Swiss blockchain firm Overture will launch a compliant IPO and offer ordinary class-A shares natively on the Ethereum blockchain, using smart contracts provided by Zug-based EURO DAXX (the European Digital Assets Exchange), a Jan. 29 press release reveals. A blockchain-native approach to securities offerings Overture and its financial advisory firm, Andriotto Financial Services, said that the new venture is set apart from other security offerings in that: “The…

Ditto Music to Launch App Offering Speedy Blockchain Solution

Ditto Music will launch Bluebox, a blockchain recording technology that could be a boon to musicians and distributors alike.  What it’s all about The problem, says Ditto Music CEO Lee Parsons, is that misplaced metadata can end up eating away at the bottom line.  Recently Ditto made a royalty payment of 60,000 pounds sterling ($80,000) to the wrong artist. Parsons reportedly had to pay the correct artist out of his own pocket.  But Bluebox will allow artists to address legal concerns, such as copyright registration, publishing, and mechanical splits. The…

BitMex to Launch XRP Swaps, Delist 2 Other Derivatives

BitMEX is releasing an XRP-U.S. dollar quanto swap targeted at crypto’s budding derivatives market. A quanto swap is a cross-currency interest rate swap where one counterparty pays the other a foreign interest rate. When the contract expires, the notional amount gets settled in cash at a pre-defined exchange rate. These kind of swaps can be beneficial for speculators in search of liquidity and where they can post margin in their preferred currency. The XRP/USD quanto product is set to go live on Feb. 5. The move coincides with the delisting…