Cryptocurrency Daily News Bulletin: November 27, 2018

November 27, 2018 1:15 pm Published by

General News

Binance has announced that it is creating a new unified stablecoin market. While they haven’t released full details on this new market, renaming the previous USDT market on their platform. “This is to support more trading pairs with different stablecoins offered as a base pair”, the statement read.

Coinbase Head of Policy, Michael Lempres, has left the company for a position at a venture capital firm.

Hong Kong’s second largest container terminal operator, Modern Terminals, has joined the TradeLens project, a blockchain-enabled technological solution developed by Maersk and IBM.

Singapore’s parliament has introduced a new bill which will impact electronic wallets and digital payment tokens such as bitcoin. The Payment Services Bill will place the providers of payment services that are not under the regulatory oversight of Money-Changing and Remittance Businesses Act and the Payment Systems Oversight Act under the umbrella of the Monetary Authority of Singapore (MAS), the country’s central bank.

Switzerland’s newly introduced crypto exchange-traded product (ETP) offered by Amun and the Swiss Stock Exchange, has become the biggest ETP in Switzerland with the highest trading volume, more than silver, crude oil and gold; showing very strong interest from local investors towards crypto. The index has nearly half of its assets invested in Bitcoin, with the remaining half comprised of XRP, Ethereum and Litecoin.

UAE state-owned financial institution, Al Hilal Bank, has made history by becoming the world’s first Islamic bank to execute a Sukuk (Sharia-compliant bond) transaction on a blockchain. In a secondary market deal, Al Hilal Bank used blockchain technology to resell and settle a portion of a US$0.5 billion Sukuk issued two months ago and scheduled to mature in September 2023. 

Cryptocurrencies

Bitcoin: Since Monday, the price of BTC has moved closer to the $3,400 support level and based on the bearish momentum of BTC, it is likely that BTC will drop below the level in the days to come, especially since it is failing to maintain stability above the $4,000 mark. BTC has been in freefall without even much sell pressure. Which means as big sell volumes begin to the hit the market, the price of the asset could be vulnerable to further sell-offs in the near future.

Bitcoin Cash made a charge back toward the $200 level, bolstered by the announcement that CoinGeek had formally called for an end to the “hash war” that had threatened to destabilize the BCH network following this month’s contentious hard fork.

Ripple’s XRP has resumed trading on embattled crypto exchange Coincheck for the first time since shutting services down following the NEM hack.

Stellar has just been listed on crypto exchange Coindelta. The India-based exchange says deposits and withdrawals are enabled, and the coin can be bought with the Indian rupee.

WN.com, Jamie Saarloos

 



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