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Rakuten launches its own cryptocurrency exchange Rakuten Wallet

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Japanese e-commerce company Rakuten announced the launch of its own cryptocurrency trading platform – Rakuten Wallet.

According to a press release, Rakuten Wallet, a subsidiary of Rakuten, already provides users with access to spot trading on three cryptocurrencies – Bitcoin, Bitcoin Cash and Ethereum, operations with crypto assets are currently only available in conjunction with the Japanese yen. In the future, developers are preparing to introduce an application for iOS and Android, through which funds will be replenished and withdrawn from user accounts. Detailed information on the release of the application for iOS will appear in early September.

The company’s message says that customers who already have a bank account with Rakuten Bank can easily create a Rakuten Wallet account – all they need to do is enter additional information into the online form. It is noteworthy that the function of replenishment and withdrawal of funds is possible only for those who are a client of Rakuten Bank.

It is known that user funds will be stored in cold wallets of Rakuten Trust. Note that the “cold storage” of crypto assets is currently considered the most secure. In addition, the developers of Rakuten Wallet took care of the two-factor authentication of users, the multisig system is responsible for the security of private keys.

In August 2018, Rakuten acquired Everybody's Bitcoin crypto exchange, the deal cost the company $ 2.4 million. The new Rakuten Wallet platform was created on the basis of this exchange.

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Wells Fargo Banking Holding creates stablecoin pegged to US dollar

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U.S. financial giant Wells Fargo is working on a cryptocurrency pegged to the dollar. The company announced this in its press release .

According to the company, the future stablecoin will be used as part of its own blockchain platform. Its main focus will be cross-border payments between the company and its partners around the world. Moreover, other companies outside the US will be able to use cryptocurrency to complete transactions between themselves.

The decision to issue cryptocurrency in the company is explained by the need to reduce the cost of payments between different countries, as well as the acceleration of this process. The current mechanisms cannot be called bad, but they are already outdated: high commissions, terms of several days per transaction – all this cryptocurrency can leave in the past.

Wells Fargo assures that their stablecoin will provide almost instant payments, and the process of their implementation will become much simpler. Next year, the company will begin a pilot project during which the cryptocurrency will be tested in test mode. Initially, only dollars will be available for transfers, but in the future it is planned to add support for many other currencies.

Wells Fargo is not the first bank that intends to launch its cryptocurrency, but it is not only one of the largest banks in the world and in the USA, but also one of the most expensive companies in the world. The arrival of such a player will show other companies that without their own digital currencies and blockchain ecosystems, they will have nothing to do in this market.

Publication date 09/19/2019
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North Korea plans to launch its own cryptocurrency

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North Korea is creating a cryptocurrency with which the country will be able to avoid international sanctions.

It is assumed that the cryptocurrency development project is at an early stage. Its goal is the same as that of the Venezuelan project – last year the topic of developing the state’s national digital currency, Petro, was actively discussed. A cryptocurrency that does not yet have a name will be similar to the technology used by BTC or altoins. Currently, the team that is working on the project is studying products that could be tied to cryptocurrency. It is known that the payment instrument will not be exactly supported by the national currency of North Korea.

Experts believe that North Korea has enough opportunities and developments to present a good cryptocurrency. So, we can assume that the state will be able to improve its position in this way.

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The head of the SEC said when Bitcoin will appear on large traditional exchanges

Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC. “If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure […]

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Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC .

“If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure that trade is regulated correctly , ”he stressed.

We are talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.

Recall, Clayton said earlier that some progress on Bitcoin ETFs has been achieved. VanEck and SolidX have withdrawn their application.

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Name Price24H (%)
Bitcoin (BTC)
$10,242.58
0.70%
Ethereum (ETH)
$220.80
4.51%
XRP (XRP)
$0.301455
-3.87%
Bitcoin Cash (BCH)
$320.56
-1.39%
EOS (EOS)
$3.95
-3.53%
Stellar (XLM)
$0.081763
0.76%
Litecoin (LTC)
$76.85
-1.75%
Cardano (ADA)
$0.052579
-1.10%
Tether (USDT)
$1.00
0.19%
Monero (XMR)
$75.84
-3.77%
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