‘Creating DApps Can Be Simple’: Platform to Bring Decentralized Economy to Mass Adoption

A new project from Dubai, HetaChain, is developing a universal blockchain platform with “industrial scale computational capabilities.” The project is intended to make blockchain more easy-to-use and flexible for regular users and developers. HetaChain aims to help governmental services, businesses, and organizations create decentralized applications (DApps) and integrate them into different industries, such as banking, e-commerce, robotics, and healthcare.

Solving blockchain issues

The new Heta Blockchain 3.0 Platform, launched in 2018 by Relam Investment and its founder, Sultan Ali Rashed Lootah, runs a hybrid of the Delegated Proof-of-Stake (DPoS) and a Byzantine fault tolerance (BFT) consensus mechanisms which are designed to bring security to fight against cyberattacks.

According to the company, the hybrid consensus algorithm will be able to handle most of the challenges that many blockchain platforms are currently facing. These limitations include issues with security, difficulty in developing DApps, and the speed of the network. For example, Bitcoin can process only seven transactions per second (TPS), compared to Visa which can process 24 TPS. HetaChain says its technology allows for fast TPS “without the risk of downtime.”

Mainchain

The core element of HetaChain is Mainchain, the place for storing all of the public tokens. The tokens will be validated by master nodes and Mainchain will also generate multiple private chains that can be private channels for different users like a person, a company or an organization. They will have control over their own chain and will connect to the public MainChain via a special communication protocol.

The Heta Blockchain is powered by an internal cryptocurrency, HETA, which can be used to pay usage fees. There are two types of payments: the first one is the transaction fee that is paid once the user exchanges coins or tokens made by Heta. The second fee is an endorsing reward, which is paid when the user is involved in consensus or the validation process of a private chain or MainChain.

“Drag, drop, adjust”

For users without the knowledge of developing DApps, the platform offers ready solutions in the DApp Store. There will be plug-and-play DApps, software, and smart contracts, pre-built by the community or third parties for the HetaChain ecosystem. Those who want to try to create a simple smart contract can use an auto generation DApp. The company says that anyone with even basic programming skills will be able to handle it by dragging, dropping, and adjusting elements. An off-chain Database will also be available. The project’s development is planned to also be supported by a big data analysis which will be provided by third-party data centers connected to the MainChain.

There will be one more Relam Investments’ project powered by HetaChain technology and based on the smart contracts. T-Hub system is the place for integration of stakeholders in business and logistics operations like ports, customs, government agencies. Relam Investments will offer logistics services which are “fast and easy to use.”

Hetachain team

The founder, chairman and CEO of HetaChain is Sultan Ali Rashed Lootah, who has been a vice chairman of Mashreqbank PSC since March 18, 2015 and its director since 1996. The co-founders of the project are Mr. Ali Juma AlAjme – director of the United Arab Emirate’s Ministry of Health and Prevention’s IT Department, and Duy Phuong Nguyen, the vice chairman of Relam Investment. Nguyen has experience in leading finance and banking projects in VieVietnam Industrial Securities and Vietnam Commodities Exchange.

Recently, Relam Investments announced their plan of expansion to India. The company said it will start with initial investment of around $250 million in technology startups and real estate projects.

 

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Want to Meet Your Favorite Celeb? New Platform Backed By Jason Derulo Could Make it Happen

A platform enabling celebrities to “cryptonize” their popularity on an exchange powered by blockchain, while giving fans the opportunity to connect and engage with their idols in new ways, has attracted the support of several prominent stars.

GCOX recently announced that Jason Derulo – the American singer-songwriter who has sold more than 30 million singles, making him a mainstay on international charts – has joined its platform. In time, the company hopes he will be able to build upon his popularity even further, giving his global fanbase unprecedented access.

In a news release announcing the signing, GCOX’s chief communications officer Evan Ngow said: “We are committed to assembling a diverse, multi-talented array of stars at GCOX, and Jason will certainly not be the last musician to join our ranks.”

Several renowned names from the sporting world joined the platform prior to Derulo, including Filipino boxer turned politician Manny Pacquiao and former Liverpool striker Michael Owen, who were among the first to sign up to GCOX, making headlines internationally.

Both Owen and Pacquiao are offering their own cryptocurrencies – known as OWN and PAC respectively – paving the way for fans to buy merchandise, make donations to good causes the athletes are passionate about, and unlock exclusive content.

Supporting celebs throughout their life cycle

In its white paper, GCOX explains that its technology, built on the Acclaim blockchain, is designed to benefit celebrities at different points in their career. While newer public figures have the chance to increase their profile, catalyze their popularity and build a brand, established celebrities will be able to mobilise existing fans and sustain their momentum. ”Stars who are experiencing a decline in popularity will have the chance to recapture exposure and fame – “enhanc[ing], prolong[ing], and re-accelerat[ing] their career development.”

According to GCOX, the services it offers to celebrities and their fans can be split into three specialised platforms.

The first, “Celebreneur,” gives stars the impetus to be more entrepreneurial by providing them with an avenue to promote their existing businesses. Celebrities would also have a chance to sell their memorabilia, such as sporting paraphernalia or movie props, to their fans who want to own a slice of their history. Fans would also be able to be their own merchants and conduct their own transactions for their favorite celebrities’ memorabilia on the platform.

The next platform is “Celeb-connect.” Here, celebrities have the chance to engage with their fanbase like never before, whether this involves sending birthday video greetings on social media or sharing a live-stream with fans using the respective celebrity’s tokens in exchange for such services.

Finally, “Celeb-charity” allows the stars who are passionate about a certain good cause to raise awareness and boost fundraising.

GCOX’s chief executive officer, Dr Jeffrey Lin, told Forbes India he was driven to develop the platform so fans would no longer have to fantasize about interacting with the celebrities they’ve come to admire. This vision originated from his childhood dream of being able to get up close and shake hands with music legend Michael Jackson.

Fame, fortune, and the future

According to GCOX, it has a team of more than 60 people working in its enterprise. While they are mainly based in Singapore, some of its technical staff are located in Malaysia and Vietnam.

Following on from a pre-initial token sale (ITS) the platform’s Acclaim and Applause tokens are being sold in three tranches – and GCOX says the first of these tranches was oversubscribed.

The company is hoping to launch the ACCLAIM blockchain, and the GCOX exchange, in the third quarter of 2018. By the end of the year, it plans to have its Celeb-connect, Celeb-charity, and Celebreneur platforms open for business.

 

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China's Nanjing Arbitration Commission Tests Blockchain Platform for Legal Disputes

The Nanjing Arbitration Committee is testing a new blockchain platform designed to store and process data for legal disputes. The organization officially announced this September 27.

China’s regional arbitration committees were established in 1995 with the passage of the Arbitration Law, and operate as independent non-profit organizations that offer services in arbitration, mediation, and other dispute resolution mechanisms as an alternative to litigation.

According to today’s announcement, the Nanjing Committee’s new platform:

“Makes extensive use of blockchain technology, and coexists with depository institutions, financial institutions, and arbitration institutions to deposit electronic data [and enable] real-time evidence preservation, electronic delivery, online trials and ruling.”

The Committee, based in the capital city of China’s eastern Jiangsu province, says it has “formulated a special network arbitration rule” within the system that will set a determinate time limit of thirty days for the resolution of online arbitration cases. This, the Committee notes, is shorter than existing online trial periods, and “significantly lower” than the standard for offline cases.

The new system is also presented as a means of reducing arbitration costs for all parties involved, with the new system overall expected to provide a more convenient, cost- and time-efficient  dispute resolution method for “the majority of Internet companies, especially in the financial field.”

As previously reported, on September 7 China’s Supreme Court ruled that evidence authenticated with blockchain technology is binding in legal disputes, as part of a series of comprehensive rules clarifying litigation procedures for internet courts across the country. The new ruling came into force immediately.

This January, a Hangzhou-based court dedicated to processing trials for internet-related disputes via an online “netcourt” web platform had handled its first case using legally valid blockchain-derived evidence.

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UK-Based Crypto Platform Launches $1.45 Million Crowdfund Campaign to Bank the Unbanked

Nebeus, the London-based crypto platform, has launched a 1.1 million pound ($1.45 million) crowdfunding campaign as they set out their ambitious goal of bringing financial services to people around the world. According to the World Bank, there are 1.7 billion adults globally who remain unbanked, yet two-thirds of them own a mobile phone that they could use for online banking. The Nebeus’ campaign went live on Sept. 24, 2018 and has already attracted more than 400,000 pounds ($527,490).

The goals of the campaign

Backed by industry expert Brett King, the Nebeus campaign will last until October 23, 2018. Currently operating in 45 countries, they now plan for expansion across Europe, Asia and South America. The company wants to make banking simple for people and encourages a wider use of cryptocurrency in everyday spending, offering user-friendly Bitcoin wallets and its recently launched Exo card. The new prepaid card allows users to seamlessly convert crypto into fiat, making transactions convenient online, offline and even at ATMs.

“We want to create an ecosystem where those who add value are rewarded, and those

who consume services and products can do so in a competitive and secure

environment, built on blockchain technology. Our current campaign will bring us a step

closer to achieving this,” Konstantin Zaripov, co-founder and CEO of Nebeus, said.

How the platform works

Nebeus is a new crypto bank which facilitates crypto-collateral Bitcoin loans globally. The company says it is working on “bridging the gap between crypto and fiat finance through the use of blockchain technology.” According to the company, 30,000 users of the Nebeus platform have already created active blockchain-based wallets.

The fintech startup was founded in 2014, and the peer-to-peer (p2p) exchange platform was launched at the end of 2017. Nebeus has already enabled the transaction of 34 million euro ($39.9 million) and facilitated 1.9 million pounds ($2.23 million) in p2p Bitcoin loans. Their trading platform allows users to purchase and sell Bitcoin and Ethereum with instant deposits into their accounts.

Nebeus’s open API allows third parties to develop value-added products and services on top of the Nebeus platform or incorporate Nebeus’s services into their existing ecosystems.

The Nebeus card, launched in the summer of 2018, allows for converting cryptocurrency into fiat and also has some additional features. For example, all the users’ cryptocurrencies can be stored, easily accessed and managed in a Crypto Basket. Moreover, the Nebeus card functions as a regular debit card. It is accepted in over 40 million locations and can be used in stores, for online payments or for ATM withdrawals. The card can be issued to consumers worldwide.

The expansion to unbanked regions

In June 2018, Nebeus announced it was entering the African market through local telecommunications and mobile money. The company said that cryptocurrency users in Kenya, Uganda, Tanzania, Rwanda, South Africa, Nigeria and Ghana have received full access to the startup’s “crypto bank.” The company expects to enable over 400 million people with crypto services through help of local partners that already have an established network in the region.

Some of the latest research from the World Bank proves that Nebeus’s targeting of mobile money is justified. The organization’s analytics came to the conclusion that “in Sub-Saharan Africa, mobile money drove financial inclusion.” While the share of adults with an account with a financial institution remained flat in the region, the share with a mobile money account has almost doubled since 2014. Moreover, mobile money accounts have spread from East Africa to West Africa and beyond.

However, there are still a lot of unbanked adults in other continents too. According to the World Bank, account ownership in Europe and Central Asia was 65 percent in 2017 (58 percent of adults in 2014) and 71 percent in East Asia and the Pacific.

 

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Alibaba's Ant Financial to Launch Blockchain Backend-as-a-Service Platform

Ant Financial, the financial affiliate of Chinese e-commerce giant Alibaba, is launching a blockchain BaaS (Backend-as-a-Service) platform, local news outlet China Money Network reports September 21.

The announcement was reportedly made by Ant Financial vice president Jiang Guoefei at the Ant Technology Exploration Conference (ATEC) in Hangzhou yesterday. The new BaaS platform is being launched in tandem with an enterprise-focused “ant blockchain partner program” that will reportedly enable small- and medium-scale businesses to implement and innovate new blockchain solutions.

The announcement aligns with what Gueofei characterized as a move to “open up” Ant’s in-house technologies to the wider commercial sector:

“In the past two years, Ant Financial has been working on two aspects about blockchain. One is to improve the technology, and the other is to open it up and accelerate the commercialization of blockchain applications.”

As part of its impetus to commercialize the technology, Ant Financial trialed its very first blockchain remittances earlier this summer, using its newly-developed blockchain-based electronic wallet cross border remittance service. The trial demonstrated a transfer of funds between Ant Financial’s AliPayHK — the Hong Kong version of Ant’s popular mobile payment app Alipay — and Filipino payment app GCash.

Alibaba founder Jack Ma has signalled increasing involvement of AliPay in blockchain for several years, with Ant Financial most recently securing $14 billion in funding for the technology’s development this June.

Fresh data published late August revealed that Alibaba had sealed first place globally on a new list that ranked entities by the number of blockchain-related patents filed to date; the e-commerce conglomerate has filed a staggering 90 such patents, outflanking even IBM.

Nonetheless, Ma delivered a keynote lecture earlier this month in which he noted that blockchain is one of a host of advanced technologies that still need to prove they can help evolve society in a “greener and more inclusive” direction.

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AI Application Development Platform Dbrain Raises $8M Investment Led by Bitfury and AngelVest

A syndicate of investors including Angelvest, Bitfury Group, and a consortium of cryptocurrency traders is making a $3 million equity investment to the AI application development platform Dbrain.

This comes after an earlier $5 million investment from Bitfury in Dbrain’s DBR token and brings total capital raised to $8 million. Bitfury’s investment in Dbrain also involves a strategic partnership to support Dbrain with private blockchain development using Bitfury’s Exonum framework.

This investment marks an important milestone for Dbrain’s fundraising as the company has already raised more than a fourth of its “hard cap” fundraising goal. The investment from Bitfury, AngelVest, and other partners has opened new possibilities for Dbrain’s token, extending the token sale to bring more strategic partners onboard.

“Dbrain is a perfect match for Bitfury Capital’s focus on funding innovative technology,” said Marat Kichikov, Director of Bitfury Capital. “With the rise of artificial intelligence, we see a high demand for AI-based platforms in the future, and we eagerly look forward to building a strong relationship with Dbrain.”

In addition to Dbrain, Bitfury plans to continue investing in promising blockchain-based companies this year. Based in Amsterdam, the company already has a presence in North America, the Middle East, and Asia. It also landed a position on the 2018 Forbes Fintech 50 List.

Chinese investment group AngelVest is also looking for opportunities to invest in artificial intelligence and blockchain-related startups. It was founded in 2007 in affiliation with the Shanghai chapter of the Asia America Multitechnology Association, one of Silicon Valley’s leading business networks. AngelVest Group has launched a fund specifically targeting cryptocurrencies and artificial intelligence, and Dbrain is one of the early benefactors of this large crypto-fund.

“We are delighted to win the trust of industry giants like Bitfury and AngelVest. Their support means a great deal. With their help, we have managed to close a quarter of the hard cap. This marks an important fundraising milestone for us,” said Dmitry Matskevich, co-founder and CEO of Dbrain. “Also, Bitfury’s Exonum framework is exactly what we were looking for. It provides us a way to increase the security and reliability of our platform while creating a highly scalable network. So, we are really excited about the strategic partnership with Bitfury.”

To build a platform that turns raw data into AI for business, Dbrain is using Bitfury’s core product Exonum, an extensible framework for blockchain projects. Dbrain platform implements two blockchain protocols — SPOCK and PICARD — which provide transparency and fair revenue distribution. SPOCK protocol validates the quality of labeling and checks the accuracy of mappings. PICARD protocol ensures that the client gets the best algorithm possible and automatically manages relations between all parties involved. The partnership between Dbrain and Bitfury has enabled Dbrain to build 90% of its platform on top of Bitfury’s Exonum framework.

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SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

Exchanges

Japan’s SBI Group is reportedly planning to create a crypto derivatives platform. In South Korea, Huobi is taking an aggressive approach and expects to achieve a 30% crypto market share. Meanwhile, a Thai crypto exchange has unveiled an ATM that supports four cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

SBI Plans Derivatives Platform

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledSBI Crypto Investment, a subsidiary of Japanese financial services group SBI Holdings, has acquired a 12% stake in North Carolina-based Clear Markets, Nikkei reported Tuesday.

While the acquisition price was not disclosed, the news outlet estimates that the stake “is likely worth about 1 billion yen ($9 million),” elaborating:

Although digital currencies are more volatile than other asset classes, a derivatives market for them that can hedge against risk remains undeveloped. SBI Crypto therefore wants to build a platform that will allow institutional investors to smoothly trade these instruments.

Last month, SBI Virtual Currencies, the crypto exchange unit of SBI Holdings, opened its Vtrade service to the public following a limited launch in June. The exchange currently supports XRP, BCH, and BTC, but plans to add ETH in the near future.

Thai Multi-Crypto ATM

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledThai cryptocurrency exchange Coin Asset unveiled its crypto ATM at the Hybrid Summit on July 28 and 29, according to Prachachat Turakij newspaper.

CEO Sivanus Yamdee explained that the ATM allows customers to purchase and sell BTC, ETH, LTC, and BCH in amounts as low as 100 baht (~US$3). The company plans to add more coins in the future based on demand from customers. The ATM also allows withdrawals in Thai baht.

The machine has a large touch screen and prints out a receipt after each transaction.

Coin Asset has reportedly applied for a license with Thai Securities and Exchange Commission; the agency began accepting applications last week.

Huobi Plans to Achieve 30% Korean Market Share

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM UnveiledChinese exchange Huobi is planning to aggressively pursue the Korean market, according to Asia Economic news outlet. The exchange launched its trading platform in Korea in March.

At the Huobi Carnival 2018 event on August 2 in Seoul, Kim Young-chul, head of the Strategic Planning Division of Huobi Korea, announced the company’s long-term strategy. He said:

The number of members has grown rapidly to 200,000 members within two months after the opening of the virtual currency exchange…We aim to achieve 30% market share in the next year.

In addition, Kim revealed that Huobi Korea will conduct various blockchain-based businesses alongside its exchange business. It will also actively recruit talented people. In February, Huobi Korea announced that it was looking for an “Innovation Business Team Leader,” a position with a minimum annual salary of 100 million won (~$88,596). “This policy will continue…We will hire more talented people in the industry,” Kim detailed.

What do you think of SBI’s derivatives platform, Huobi eying 30% market share in Korea, and the Thai crypto ATM? Let us know in the comments section below.


Images courtesy of Shutterstock, SBI Group, Huobi Korea, and Coin Asset.


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Japan’s SBI Group to Develop Crypto Derivatives Platform Following New Investment

Japanese financial services giant SBI Holdings will expand its crypto business portfolio by acquiring a 12 percent stake in Clear Markets, according to SBI’s financial results report published July 31. SBI is scheduled to acquire up to 20 percent in the future.

Clear Markets is a U.S.-based electronic trading platform developer and operator that offers over-the-counter derivatives electronic trading services in the U.S., U.K., and Japan.

SBI’s new stake in Clear Markets is part of an effort to create a cryptocurrency derivatives trading platform catered toward institutional investors. The platform will reportedly allow financial institutions to trade more smoothly on the crypto derivatives market.

Clear Markets will provide hedging for cryptocurrency swap transaction services which is “necessary for the handling of cryptocurrencies and financial instruments that use cryptocurrencies.” In the report, SBI Group noted that the increased use of cryptocurrencies and its derivatives will increase liquidity levels.

While the price of the stake was not disclosed, according to Nikkei Asian Review, it is likely worth around $9 million.

Clear Markets is planning to launch а crypto swap trading service and holds a swap execution facility (SEF) license from the U.S. Commodity Futures Trading Commission (CFTC) and derivatives brokerage in the U.K. and 32 countries in Europe. The company is an an affiliate of QUICK Corp. which is a subsidiary of Japan’s Nikkei Inc.

SBI has invested in more than 20 crypto crypto-related projects over the past year, and formally launched the public version of its cryptocurrency exchange VCTRADE July 17.

Japan is one of the leading countries in terms of cryptocurrency adoption. According to Clear Markets chief executive Mark Brickell, “as much as 50 percent of cash trading in cryptocurrency,” has taken place in the country.

Last week, the Japan Virtual Currency Exchange Association (JVCEA) announced it will require its member exchanges to place limits on the trading activity of some clients in an attempt to prevent investors with “small assets” from suffering heavy losses.

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Blockchain Platform to Promote Japanese Culture Through Movies, TV Shows and Music

A blockchain-based company says it is seeking to cater to what it calls a growing demand for Japanese culture — creating animations, music, games and movies, as international interest in this industry grows.

According to MINDOL’s white paper, the country’s government is investing heavily in a “cool Japan” strategy, designed to showcase powerful content and enable a market already worth 12 trillion yen domestically (about $108 million) to generate even more revenue from devoted fans in the U.S., Europe and elsewhere.

The company has a thorough plan for producing content, and several projects are already in the works. MINDOL has the goal of regularly producing TV programs and hosting artist content that nurture new talent and open up new opportunities. And, in an attempt to reach younger audiences, the platform aims to establish relationships with social media influencers on Twitter, Instagram and YouTube.

MINDOL says famous producers who specialize in TV, film, animation and publishing have already agreed to join its platform. According to the company, it has partnered with Mushi Production, a Japanese animation studio.

At the heart of the company’s ecosystem is a marketplace called eMINDOL, helping consumers to view content, buy products, and invest in the projects they feel most passionate about. The public will also have the chance to give donations to their favorite stars, enabling them to make a living. Stakeholders will have the ability to vote and participate in the planning and development of new content, and their influence will be tied to the number of MINDOL tokens they own.

For content creators, MINDOL’s blockchain also has the potential to help protect their earnings. Copyright management is going to be a major focus for the platform — giving artists the credit they deserve for their hard work. In time, the company hopes this will enable creatives to prevent their content from being used without their consent, as well as weed out counterfeit goods that have been a drain on the industry’s profitability.

Making “cool Japan” even more exciting

MINDOL’s team say they want to ramp up the excitement and enthusiasm that global fans have for Japanese content. One initiative that aims to bolster engagement with its platform is “mileage.” This concept would see users who hold on to MINDOL tokens for prolonged periods of time receive discounts when making purchases — and, in time, it may also result in devoted users benefitting from preferential treatment.

The company says that its project has already garnered immense levels of interest. It recently held a private, Japan-only sale — raising 3.8 billion yen (about $34 million) in funds. Although this investment has allowed MINDOL to set some projects in motion, it has the goal of strengthening content production and speeding up development by staging a token sale for investors from around the world.

Projects in the pipeline

According to MINDOL, projects for TV programs are due to commence in October, with details of planned animations to be unveiled in the same month. A whole range of new productions, as well as booths at exhibitions, will follow in 2019 and 2020.

The platform has also attracted a host of A-list advisers. Among them is Gil Junger, a renowned producer and director of Hollywood movies and shows. His award-winning films include “10 Things I Hate About You,” and they have been credited with propelling some of the world’s biggest actors into the limelight.

 

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Media: Crypto Exchange Huobi’s OTC Trading Platform to Support India Rupee Transactions

Huobi, currently the world’s third largest crypto exchange by daily trading volumes, is set to support Indian rupee (INR) transactions on its proprietary peer-to-peer trading platform, according to an email cited by Crypto News India July 26.

Huobi, whose over-the-counter (OTC) service will reportedly offer Indian users zero-fee trading on Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) using rupees, noted in the email that:

“We do think it’s time that we provide a solution of buying/selling digital assets with INR for all Indian users…every registered Indian user of Huobi can log in to https://otc.huobi.com to trade digital assets with INR.”

The email reportedly goes on to advise customers that they can transfer to Huobi Global if they want to trade more cryptocurrencies with “high liquidity.”

The OTC option for Indian traders has yet to be confirmed in an official announcement beyond Crypto News’ cited correspondence, although the platform did reach out to a spokesperson who has allegedly confirmed that INR trading will be supported.

Huobi has not responded to Cointelegraph’s request for confirmation by press time.

News of Huobi OTC’s reported support for rupee transactions is especially significant for the Indian crypto space in light of the Reserve Bank of India’s (RBI) controversial ban on banks’ dealings with crypto-related businesses and persons, which came into force July 5.

On July 4, one day prior to the deadline for the ban’s implementation, local crypto exchange WazirX revealed it would itself be transforming into a peer-to-peer platform so as to avoid in-house crypto-fiat conversion.

The central bank’s crypto dealings ban — first announced in April 2018 — has prompted both public and industry-led petitions, with some appealing to the courts on the grounds that the decision is unconstitutional.

Ongoing hearings on the ban at the Supreme Court have seen the judiciary refuse to grant interim relief to those that purport to be affected. Ten days ago, the court deferred the final hearing on the ban — originally scheduled for July 20 — until September 2018.

Alongside this most recent bid to reach out to an Indian user base, Singapore-headquartered Huobi has been rapidly expanding overseas throughout 2018. Trading has recently opened on its new “strategic partner” platform in the U.S., having launched a South Korean subsidiary this spring as well as unveiling a London-based operation, with OTC trading tests for the U.K. market expected to begin in the third quarter of this year.

Huobi has seen $968.7 million in trades over the 24-hour period to press time, according to CoinMarketCap.

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HyperQuant Platform Development Update


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