Kategorie: Crypto Business

Bittrex Global says it is looking at adding support for Tezos tokens FA1.2 and FA2

Bittrex Global, a top digital asset exchange that ranks among the world’s largest, is exploring the listing of two Tezos-based tokens, the exchange said in a press announcement shared with CoinJournal on Tuesday.

According to Bittrex, the two tokens under consideration are FA1.2 and FA2, crypto token standards on Tezos (much like the ERC-20 fungible tokens). They enable users to create unique digital assets in decentralised finance (DeFi), non-fungible token (NFT) and decentralised autonomous organisations (DAOs).

“The integration and listing of FA1.2 and FA2 tokens on Bittrex would signify that a variety of tokens on the Tezos blockchain can be supported and integrated on the exchange,” Bittrex said in its statement.

According to Bittrex Global, all token listings “follow a thorough review and close examination” before the tokens are added to the exchange.

Among key factors, the team considers amid the need for regulatory compliance include due diligence on the token issuer, project’s innovation, token’s economics, roadmap, and market interest.

Last week, the exchange added support for CCD, a token on the regulated digital asset platform Concordium.

Tezos (XTZ)

Tezos continues to be a leading blockchain platform for investors seeking to interact with yield farming protocols and decentralised exchanges (DEXs). Low gas fees and institutional-grade security has seen a spike in contract calls on the platform.

In January, there were over 6 million contract calls while active smart contract addresses grew 200% in 2021 to surpass 600,000.

In the market, Tezos’s (XTZ) price is up 4.6% in the past 24 hours and currently trades near $4.13. Its all-time high is $9.12, reached on 4 October 2021.

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The ASX chief notes that the Australian stock market’s goal is to see more investment opportunities in the crypto asset class space come to the exchange.

More businesses and companies with ties to the crypto ecosystem are likely to seek listing on the Australian Securities Exchange (ASX) as the sector continues to grow, says the ASX chief executive officer Dominic Stevens.

According to Stevens, cryptocurrencies are set to be a bigger part of the stock market’s future offerings.

As well as listing crypto-focused companies like Block (formerly Square) and exchange-traded funds (ETFs), the ASX is looking towards spot ETFs for major cryptocurrencies such as Bitcoin and Ethereum, the Sydney Morning Herald has reported.

“I think as the industry matures, you may see Square-like companies listing into the future, but we’re protective of the quality of the companies on our exchange, and it is a very fast-moving space,” he noted.

Stevens, who announced he’d be exiting the exchange later this year, however, believes that there’s a lot still to be done across the broader crypto space in relation to consumer protection.

While people have created massive wealth in the sector, issues of hacks and other aspects of security breaches continue to plague the crypto ecosystem, he noted.

Crypto companies offer diversification

The ASX CEO said that technology companies will make up a large part of the index, with an uptick in listings for crypto companies and SPACs.

The ASX, he added, is in a good position to and will likely benefit more from an influx of companies as the technology sector becomes an even larger part of the global stock market.

The move is part of the exchange’s diversification as it looks to rival markets in the US and Asia. According to him, it would be a mistake not to have focused on the growing crypto-related ecosystem when it booms in the next few years.

On January 20, Jack Dorsey’s Block made its debut on ASX after its merger with Afterpay. The listing had observers noting that the move had the potential to open floodgates for many more companies powered by blockchain technology.

The post ASX eyes more crypto-focused companies, CEO Dominic Stevens says appeared first on Coin Journal.

The bank launched an institutional crypto trading desk in early 2021 after a regulatory nod from the Monetary Authority of Singapore (MAS).

DBS, a banking and financial services giant headquartered in Singapore, has plans for a crypto trading desk that will target retail investors, the bank’s chief executive officer Piyush Gupta said on Monday.

Gupta revealed the plans during an earnings call following the bank’s fourth-quarter report released on Monday.

According to an excerpt of the call cited by news publication CoinDesk, much more needs to be done before the trading desk rolls out. However, the DBS chief believes the financial services provider will be all systems go by the end of the year.

“We are starting the initial work to expand it beyond the current investor base,” Gupta said.

At the moment, the Singaporean banking giant is looking to expand its current infrastructure to offer the new service to customers beyond its existing base of accredited investors, the CEO added.

Most of the work on the trading desk, Gupta noted, relates to compliance and usability.

Aspects of the desk to do with user-friendliness and integration with crypto-assets should be done in the next several months, with targets for accessibility put around June of 2022.

DBS received a regulatory go-ahead from the Monetary Authority of Singapore (MAS) last year to offer crypto trading services and has emerged as one of the major banking institutions around the world looking to lean into crypto to satisfy customer demand.

Plans for a retail crypto trading desk comes after the bank’s successful unveiling of an institutional-based crypto trading desk.

The post DBS Bank to launch a retail crypto trading desk by year’s end, CEO says appeared first on Coin Journal.

• Coinbase Prime will power the new separately managed account ONE Digital SMA, the companies announced.
• Brett Tejpaul, the head of Coinbase Institutional, said in a press release that the partnership with One River Digital will help the two firms “meet clients‘ evolving needs.“

One River Digital Asset Management and leading cryptocurrency exchange Coinbase have partnered to launch a new institutional-grade, separately managed account (SMA) for wealth managers and other institutional investors, according to a press release published Friday.

ONE Digital SMA will be powered by Coinbase Prime will offer a suite of digital asset investment strategies and services, which wealth managers can easily and directly access, the two firms said in a statement.

The platform also offers “an early look at the future of asset management in a financial system transitioning to blockchain-enabled infrastructure,” they added.

ONE Digital SMA, according to Coinbase, is for wealth managers intent on giving their clients direct exposure to crypto investing. The account will offer complete transparency and comes with other features such as staking.

Brett Tejpaul, Head of Coinbase Institutional, noted that the launch of the SMA has come at a time digital asset owners were increasingly moving away from research to digital implementation. In 2022, he added, customers were more inclined towards holding their digital assets in segregated accounts they control.

He also remarked that clients were more after investment management services that offer the same quality as that which they are accustomed to in legacy markets. 

The new offering will be crucial to meeting clients’ evolving needs and demands, the Coinbase executive noted.

“ONE Digital SMA is the best of both worlds – it delivers market-leading access and secure custody via Coinbase Prime and institutional grade investment products and services from One River Digital,” Tejpaul said.

One River Digital Asset Management is a leading asset manager with approximately $2.5 billion in institutional assets. The firm launched its services in 2013.

The post Coinbase partners OneRiver to launch a managed account for institutional investors appeared first on Coin Journal.

• Uber is having conversations about leaning into crypto, the firm’s chief executive Dara Khosrowshashi told Bloomberg on Friday.

• But the company wants to see a less expensive, more environmentally friendly exchange mechanism, the Uber chief added.

The CEO of Uber, a ride-sharing company with a presence in most cities in the world, says the company will at “some point” in the future accept cryptocurrency payments.

Dara Khosrowshashi said this in an interview with Bloomberg on Friday.

He noted that the company continues to have conversations over the idea and that they “definitely” would go the crypto route when the time and conditions are right.

“So we’re absolutely watching it. And if you say, is Uber going to accept crypto in the future? Absolutely. At some point. This isn’t the right point, but we will.“

Explaining what the firm was looking at, the Uber chief pointed to the exchange mechanism. He said the current transaction mechanism is expensive and “not great for the environment.

“As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more,” he told Bloomberg.

In his remarks, Khosrowshashi looked at Bitcoin as a good store of value.

Uber shares fell 7% on Friday after the company’s financial guidance missed analyst estimates. The firm’s projects adjusted profits for 2024 to come in at $5 billion, below forecast figures of $5.7 billion.

The post Uber will accept crypto ‘at some point,’ firm’s CEO says appeared first on Coin Journal.