Day: September 11, 2018

Saudi British Bank Joins Consortium R3’s Global Blockchain Ecosystem

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The Saudi British Bank (SABB) has become the first Saudi bank to join enterprise software firm and global banking consortium R3’s blockchain ecosystem, local news outlet Trade Arabia reports today, September 11. SABB enjoys a strong reputation, having reportedly been named by Global Finance magazine as the “Best Trade Finance Bank” in Saudi Arabia for the 10th consecutive year, “Best Supply Chain Finance Bank” in the Middle East for 2018, as well as Saudi’s “2018 Best Trade Finance Bank” for the 2nd year running. The bank joins R3’s efforts to…

Saudi British Bank Joins Consortium R3’s Global Blockchain Ecosystem

boss

The Saudi British Bank (SABB) has become the first Saudi bank to join enterprise software firm and global banking consortium R3’s blockchain ecosystem, local news outlet Trade Arabia reports today, September 11. SABB enjoys a strong reputation, having reportedly been named by Global Finance magazine as the “Best Trade Finance Bank” in Saudi Arabia for the 10th consecutive year, “Best Supply Chain Finance Bank” in the Middle East for 2018, as well as Saudi’s “2018 Best Trade Finance Bank” for the 2nd year running. The bank joins R3’s efforts to…

BTC/USD Cautious amidst Crypto Sell-Off

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Bitcoin price on Tuesday depreciated against the US Dollar by almost 3.5 percent as the selling sentiment throughout the crypto-market continued to intensify. The BTC/USD opened today at 6389-fiat after rising from the low near 6218-fiat from the previous day. The pair couldn’t continue the upside correction right from the beginning of the today’s Asian trading session and experience significant sell-off as the day matured. The bearish sentiment also rippled throughout the European trading session, bringing BTC/USD further down. Just ahead of the beginning of the US session, the pair had…

Malta Stock Exchange Signs MOU with Binance to Launch Security Tokens Trading Platform

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The Malta Stock Exchange’s fintech and digital asset subsidiary, MSX PLC, has signed a Memorandum of Understanding (MOU) with crypto exchange Binance to jointly launch a new security token digital exchange, according to a press release shared with Cointelegraph September 11. The press release pitches the forthcoming trading platform as being poised to benefit from the Malta Stock Exchange’s “26-year track record of operating as a regulated stock exchange,” with the dynamism and international scope of Binance’s business model. As previously reported, Binance has steadily been expanding its business presence…

Hashtoro Propels Cryptocurrency Cloud Mining

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As an emerging cog in the global digital economy, cloud mining offers a tool for enthusiasts to mine cryptocurrencies such as bitcoin without having to acquire hardware or other oft-required elements. On the heels of this development, growing numbers of companies are offering cloud mining accounts at an affordable cost. Once established, cloud miners become participants in a mining pool that allows them to purchase certain levels of “hash capacity.” This gives them a share of profits proportional to the amount of hashing power that’s been allotted to them. Since…

Stellar-Based Lightyear Acquires Chain, Forms New Entity

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Lightyear Corporation, a universal payments network built around Stellar’s open financial protocol, has announced the acquisition of Chain, in a merger that sees both brands combine to form a new entity called Interstellar. Under the terms of the merger, Interstellar will help organizations build applications on the Stellar Network while the Stellar Development Foundation will remain fully independent. Former Chain CEO Adam Ludwin also becomes Interstellar CEO, while Jed McCaleb takes over as Interstellar CTO. Chain became prominent as a startup that builds enterprise-level blockchain applications for financial organizations such…

Nasdaq Crypto Price Tool Launch Shows Mainstream Interest is Increasing

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Reports suggest that one of the planet’s largest stock exchanges is experimenting with adding information about digital assets to its Analytics Hub. The tools that the Nasdaq are hoping to incorporate will take data from a variety of sources and will be used by investors to make trading decisions. Mainstream Interest in Cryptocurrency Continues to Intensify According to reports picked up by International Business Times, the Nasdaq stock exchange is preparing to include cryptocurrency tracking tools in its Analytics Hub. The idea behind the hub is to provide investors and…

Stellar Gets Another Boost With TokenSoft ICO Services Expansion

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ICO services platform TokenSoft is officially launching support for projects on the Stellar lumens protocol. The company – which helps crypto startups navigate through legal compliance procedures in the U.S. and internationally – announced Tuesday that it would extend its offerings to include the Stellar platform, having previously assisted ethereum-based projects. TokenSoft co-founder Mason Borda told CoinDesk that his company had been looking into Stellar since the first quarter of 2018, citing its level of “maturity” as the reason for accepting it to the platform. “We feel that [the Stellar network], the…

Founder of Crypto Exchange OKEx Allegedly Detained on Crypto Fraud Charges in China

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Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11. According to the news outlet, Xu is currently being held in the Shanghai Weifang Xincun police station, and will be released within 24 hours if insufficient evidence is found of his participation in suspected fraud. Tech news sources ZeroHedge reports that investors in WFEE Coin — a company where Xu is a shareholder…

Bitcoin’s dominance attains new 2018 high prompting positive changes in the market

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Bitcoin’s dominance reached 56.1% after finding stability in the low range of $6,300, demonstrating decent volume at around $3.9 billion. This may prompt some positive changes in the cryptocurrency market especially with the recent positive news that have rocked the industry. Additionally, these may lead to more stability in the markets. The total cryptocurrency market cap has remained around $195 billion in the last 24 hours, thus no major moves have been experienced. Additionally, digital currencies like Ethereum and XRP have continued to experience losses, with coins like ADA loosing…