Binance Bahrain Gets Category 4 License to Provide Crypto Trading Service

Binance, a global cryptocurrency exchange, announced on Thursday that its subsidiary in Bahrain has received a Category 4 license as a crypto asset service provider (CASP) from the Central Bank of Bahrain (CBB). According to the announcement, Binance Bahrain is the first exchange to be awarded a category 4 license by the CBB. The Category 4 license will allow Binance Bahrain to offer a full range of crypto trading services to consumers under the supervision of the Bahrain regulators. Richard Teng, Head of MENA at Binance, further elaborated: “The upgrade…

JPMorgan trials blockchain for collateral settlement in after-hours trading

Multinational investment bank JPMorgan Chase & Co is reportedly trialing the use of its own private blockchain for collateral settlements. According to Bloomberg JPMorgan conducted a pilot transaction last Friday which saw two of its entities transfer a tokenized representation of Black Rock Inc. money market fund shares A money market fund is a type of mutual fund that is considered as a low risk investment as it offers exposure to liquid and short term assets such as cash, cash equivalents and debt-securities with high credit ratings. In terms of…

Crypto Carbon Trading Is Racing to Clean Up Its Act; Cryptos Drop Even as Stocks Rise

“Some traditional internet business models, like advertising, are likely to persist in the metaverse. However, with blockchain-adjacent technologies such as decentralized identity and zero-knowledge proofs (ZKP), one’s privacy can actually be preserved in the metaverse, if we construct the foundations just right. Nonetheless, leveraging these kinds of privacy and identity technologies, especially ZKPs, may come with the additional hurdle of poorer latency [because] the zero-knowledge proof itself can be computationally expensive to perform.” (CoinDesk columnist Daniel Kuhn) … “And yet, even if met with dogma or incredulity, innovation is rarely…

FTX US to launch stock trading against stablecoins

Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced on May 19 the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app. The new stock trading platform will feature trading and investing in hundreds of U.S. exchange-listed shares, including common stocks and exchange-traded funds. According to the announcement, FTX Stocks will be the first platform to ever allow…

Coinbase Plays Web3 Card, BitMEX Launches Spot Trading in Race for New Customers and Revenues

Source: Adobe/Andrey Popov   Major crypto exchanges Coinbase and BitMEX are deploying new features to lure more customers, benefiting from users’ rising interest in direct and mobile Web3 access, and spot markets, among others. As planned, the major crypto derivatives platform, BitMEX, is introducing a new spot exchange that allows traders to buy, sell and trade cryptoassets with the use of an orderbook.  “These cryptocurrencies include popular portfolio staples like XBT (BTC) and ETH, rising stars like APE and AXS, and DeFi performers like UNI and SUSHI – all paired…

Goldman Sachs and Barclays invest in UK crypto trading platform Elwood

Banking giants Goldman Sachs and Britain’s Barclays have joined a $70 million Series A funding round for the institutional crypto trading platform Elwood Technologies, founded by billionaire British hedge fund manager Alan Howard. Joining the round was crypto-friendly German bank Commerzbank, crypto investment manager Galaxy Digital, and Dawn Capital as reported by the Financial Times on May 15. The fundraising round valued the company at around $500 million according to the report. Despite the recent fall in crypto markets, Elwood said it’s betting that traditional financial institutions such as hedge…

Binance suspends LUNA and UST trading amid issues on Terra blockchain

Global cryptocurrency exchange Binance has suspended trading pairs with Terra ecosystem’s cryptocurrencies, LUNA and UST, on its platform following the major crash of the algorithmic stablecoin. Binance confirmed the move on May 13, with spot trading for LUNA/BUSD and UST/BUSD trading pairs being suspended. It’s not clear when the withdrawals for LUNA and UST will continue, as the crypto exchange simply stated that it will wait for the issues with the Terra network to be solved. It is the latest move by the world’s largest cryptocurrency exchange by trading volume following…