The Daily: Coinbase Forms Political Action Committee, EY Acquires Crypto Patents
Coinbase to Raise Money for Elections
Coinbase’s conclusions and moves often influence crypto markets, even as was the case with the latest statement that the exchange is thinking about adding five new cryptocurrencies – ADA, BAT, XLM, ZEC, and ZRX. The information quickly raised the prices of those coins by up to 20 percent.
The acquisition is part of both EY’s strategy to expand blockchain-related capacities and solutions globally, according to a press release published by PRNewswire. “Cryptocurrencies and blockchain are transformational forces with a strong potential to fundamentally alter how business is completed,” said Kate Barton, EY Global Vice Chair — Tax Services. “CAAT places us as a leader in serving a variety of organizations embracing crypto-assets in an evolving regulatory environment,” she added, quoted at the corporate statement.
The Pundi XPOS terminals provide payments in several cryptocurrencies and encourage trades through other wallets like Alipay and Wechat Pay. These devices accept charge cards that are also as well as Pundi X’s XPASS card. The latter enables users to purchase, sell and exchange unique cryptos and make online purchases. The two companies plan to distribute the XPASS cards also create together a cell crypto payment method.
Following information that it’s working to build a community of 5,500 POS terminals for crypto obligations in Hong Kong, it’s been reported that Pundi X is now eyeing the South Korean market. The company revealed in a statement it has signed a Memorandum of Understanding with the local smart card manufacturer Ubivelox. The partnership aims to encourage the installation of Pundi X apparatus from South Korea.
Pundi X with New Partnership at South Korea
California-based crypto exchange Coinbase has made a political action committee in order to raise money that could be spent on US elections, also Reuters reported the provider. The filing was announced on Friday, July 20. According to the report, the political action committee has not raised any funds yet.
Additionally read: Minsk Mulls Rules for Exchanges, Qiwi Awards Workers with Tokens
In May, it had been revealed that Coinbase’s representatives had met with US regulators to discuss the option to apply for a banking license. The trading system reportedly contacted officials from the US Office of the Comptroller of Currency earlier this year to go over the matter. Reports that Coinbase was approved to record securities were later corrected by the organization.
What are your thoughts on today’s information tidbits?
Talking of new listings, Chinese-run Okex, among the biggest cryptocurrency exchanges, has included that the cardano (ADA) cryptocurrency to the platform with trading beginning July 23. The company announced the inclusion on Twitter, this past Friday. It has also included a new token, hycon (HYC), whose spot trading has been scheduled to begin on the 24th. In accordance with Coinmarketcap, cardano is presently 8th among the monitored cryptos, using a market capitalization of over $4.2 billion USD.
While important players from the crypto space are trying to diversify elsewhere, based financial companies have been investigating possibilities in the fintech sector. Ernst & Young, among the main global accounting firms, announced this month that the acquisition of technology assets and relevant patents from Elevated Consciousness. Even the San Francisco-based startup specializes in developing alternatives for its crypto-asset ecosystem such as the Andy Crypto-Asset Accounting and Tax tool (CAAT) which connects with multiple crypto exchanges and pockets, allowing for better visibility into trades and stock.
Another major exchange, Singapore-headquartered Huobi, announced this week it’s adding digibyte (DGB) to its own trading choices. The coin was offered since Friday, in pairs with bitcoin (BTC) and ethereum (ETH). Withdrawals will soon be available on Sunday, July 22. After the statement, the price of DGB surged by approximately 17 percent. In the time of writing, digibyte ranks 32nd, according to Coinmarketcap, using a market capitalization of over $460 million.
At The Daily on Saturday, crypto exchange Coinbase has made a political action committee to raise funds for US elections. Also, Ernst & Young has announced the acquisition of crypto patents and technology, and Indonesian crypto POS terminal maker Pundi X is seeking to expand in South Korea using a new partnership.
Released at Sat, 21 Jul 2018 11:05:47 +0000
Make sure that you do not overlook any important Bitcoin-related news! Follow our news feed almost virtually any way you want; via Twitter, Facebook, Telegram, RSS or email (scroll to the bottom of the page to subscribe).
The latest statement is part of Pundi X’s projected growth in the area. The company intends to present up to 100,000 of its crypto POS terminals in Southeast Asia by 2021. The Indonesian firm also claims a number of companies from Japan, Singapore, South Korea, and Switzerland have ordered a total of 25,000 of its own terminals.
Coinbase is a significant player in the crypto industry. A couple of months ago, the exchange said it would revamp its trading technology to produce and provide a brand new suite of solutions to attract more institutional investors, such as hedge funds and high-frequency trading firms. Its fresh market that is institutional, Coinbase Custody, is currently open for business. The company also launched its Coinbase Guru platform.