Binance Eyes Launch of Crypto Exchange in South Korea

Binance, the world’s top exchange by trading volume, is considering launching a branch in South Korea, according to reports. Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is “working with local partners, but we do not know the details.” However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin. A Binance representative reportedly told Block…

Binance to Launch Bitcoin Futures as LedgerX, ErisX Snag CFTC Licenses

Binance to Launch Futures In a recent keynote, Binance chief executive Changpeng “CZ” Zhao unveiled a surprising tidbit of news. Speaking to the crowd at the Asia Blockchain Summit in Taipei, which is soon expected to see a monumental debate between BitMEX’s Arthur Hayes and staunch Bitcoin critic Nouriel Roubini, the exchange head revealed that his firm would soon be launching cryptocurrency futures. A slide from Zhao’s keynote can be seen below. The slide shows a preliminary version of the trading platform, which may purportedly allow for up to 20…

Binance to Launch Bitcoin-Pegged Token on Its Own Blockchain

Binance will issue a number of tokens pegged to leading cryptocurrencies on Binance Chain to boost the number of trading options on its platform. The tokens are also likely to be extended to Binance DEX, the firm’s recently launched decentralized exchange, as they create the potential to in effect move cryptos from different blockchains onto its network. The company said in a blog post that it expects to release the first such token – one pegged to bitcoin and to be listed as BTCB – in the coming days. A trading…

Nash Prepares to Launch Beta Version of Decentralized Exchange

With a mission of “bringing distributed finance to everyone,” five open-source blockchain developers have come together to form a distributed finance platform using blockchain technology that allows for decentralized and non-custodial cryptocurrency trading. Established in 2017, founders Fabio Canesin, Fabian Wahle, Ethan Fast, Thomas Saunders, and Luciano Engel built Nash as an integrated financial services platform in which users could invest, trade, and make payments with digital assets. All five founders of Nash were also behind the City of Zion open-source community and continue to develop key infrastructure for the…

Coinbase CEO Teases Launch of Debit Card in the U.S.

Coinbase CEO Brian Armstrong has announced that the company is working on introducing its debit card to customers in the U.S. Armstrong’s announcement came in a live AMA session on YouTube on May 16, 2019, during which he fielded questions and touched on various topics such as community trust ratings for altcoins and fraud prevention. While he did confirm that the debit card is coming to U.S. customers, he didn’t divulge a specific release date. Last month, Coinbase launched the Coinbase Card, a Visa-based debit card which, according to the…

Coinbase-Backed Stablecoin Startup Reserve to Launch ‘Venmo Style App’ in Venezuela

Stablecoin project Reserve announced that it will launch a crypto-fiat payments app in Venezuela and Angola in a press release shared with Cointelegraph on May 12. In the same announcement, the firm revealed that it is listing its separate utility token, Reserve Rights (RSR), on major exchange Huobi Global’s token sale platform, Houbi Prime. Per the press release, the project’s stablecoin app — to be launched for Android users via Google Play “in the coming weeks” — will enable people and businesses to switch back and forth from their local…

HTC to Launch EXODUS 1s, Smartphone With Full Node Capacity

Electronics company HTC has announced that it is launching a smartphone to bring crypto and blockchain technology to a wider audience in Q3 2019. According to a press release shared with Bitcoin Magazine, “The EXODUS 1s will be the first smartphone ever to have full node capabilities” containing the full Bitcoin blockchain. “With the EXODUS 1, we gave people the power to own their own keys, now we’re giving people the power to run their own node,” Phil Chen, decentralized chief officer at HTC, told Bitcoin Magazine. “It’s about building…

Nike to Launch Crypto Called Cryptokicks? Trademark Application Hints Yes

The crypto community has known for a while that Facebook might be issuing its own cryptocurrency. And now, it appears the online behemoth might have a little competition. Reports have surfaced that athletic apparel manufacturer Nike is thinking of doing the same. The Oregon-based company even has a name for its digital currency: cryptokicks. Nike Cryptokicks Coming Soon? On April 19, Nike filed a trademark application for ‘cryptokicks.’ The application said cryptokicks could be used by an online community. The application also describes an electronic marketplace for clothing and footwear.…

Gate.io Raises $64 Million for Launch of New Exchange Cryptocurrency

Crypto exchange Gate.io has raised $64 million worth of crypto assets in seven days for its own exchange cryptocurrency that won’t be launched on a blockchain for at least six months. One of the oldest Chinese exchanges, Gate.io claimed on Monday that over the last week it was heavily oversubscribed with orders totaling $2.99 billion for the so-called Gate Points, which can be used for offsetting trading fees on the platform. Moreover, each Gate Point further entitles a holder to receive 2.5 Gate Tokens (GT), the native cryptocurrency of Gatechain, the…

LedgerX Reveals Bid to Beat Bakkt to Physical Bitcoin Futures Launch

Cryptocurrency derivatives provider LedgerX plans to become the first U.S. firm to offer physically settled bitcoin futures contracts. The company announced Monday that it has filed for a designated contract market (DCM) license, which would allow LedgerX to offer physically-settled bitcoin futures products to its customers. Unlike the cash-settled bitcoin futures offered by CME Group (and previously, Cboe), customers would receive the actual bitcoin underlying a contract after it expires, rather than the U.S. dollar equivalent. And perhaps more notably, LedgerX can target retail investors with its new offering, said…