Asian Dragon The Asian People's Coin Thu, 16 Jan 2020 14:19:06 +0000 en-US hourly 1 Asian Dragon 32 32 Bitcoin options trading opened Thu, 16 Jan 2020 14:19:06 +0000

As of today, it will be possible for investors to trade Bitcoin options as well as futures on the traditional Chicago futures exchange CME.

This is a milestone for Bitcoin. Bitcoin options make it easier, especially for professional investors, to secure Bitcoin investments and to participate in the movements of the cryptocurrency.

“Since the introduction of our Bitcoin futures almost two years ago, customers have shown growing interest in options as another way to hedge and trade in these markets. (…) We believe that Bitcoin options now give our customers more precision and flexibility in risk management will offer, “said the CME Group.

CME has been trading Bitcoin futures for two years. The launch of this product in December 2017 had a massive impact on Bitcoin’s price. Although it climbed to a record high shortly after the start, the greatest crash in its history subsequently occurred.

Increasing acceptance in the financial world

It is uncertain whether the introduction of Bitcoin options at CME will lead to similar price pressure. More important could be the increasing acceptance of the unregulated cryptocurrency in the established financial world.

Since the beginning of December, the smaller platform Bakkt has been able to trade Bitcoin options, which had little impact on the price. After the turn of the year, Bitcoin became somewhat more expensive. The reason for the recent price increase was the US-Iran conflict.

The problem remains of the high exchange rate fluctuations that have so far largely made Bitcoin unsuitable as a means of payment. If you want to pay with digital money as a private person, there will be interesting alternatives available in the future. Among other things, a digital euro is under discussion.

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Bitcoin Suisse wants the banking license this year Thu, 16 Jan 2020 14:19:04 +0000

With Bitcoin Suisse, Seba Crypto, Sygnum and the Crypto Finance Group, four financial companies specializing in cryptocurrencies and services are fighting for dominance in this still small market.

Seba Crypto and Sygnum started as a newcomer last autumn with a banking license. The Crypto Finance Group is seeking the securities dealer license, and Bitcoin Suisse submitted a banking license application to the Swiss Financial Market Supervisory Authority (Finma) last July. She hopes to receive them in the current year.

Fiercer competition

This means that the battle for customers and market shares will intensify significantly in this niche, especially since two companies with Seba Crypto and Sygnum have a lot of ambition, but are starting from scratch.

At the Bitcoin Suisse headquarters in Zug, the new market participants can be observed with ease. The Swiss crypto pioneer founded by the Danish Niklas Nikolajsen (picture below) has been operating – and profitable – for over six years. Arthur Vayloyan, an experienced bank manager, has headed Bitcoin Suisse’s operational business since the end of 2017. Nikolajsen is executive chairman of the board and with his network in the global crypto scene is invaluable for his company.

One step means: IPO

In an interview with, Nikolajsen and Vayloyan set out their medium-term strategy – this should culminate in an IPO for Bitcoin Suisse. “We have to think ahead about the next steps,” says Nikolajsen. “And one of these steps is to go public.”

The management duo does not yet have a precise schedule. But this is primarily due to the fact that two further major strategic steps are waiting before the IPO. In addition to receiving the banking license, this is a capital increase planned for this spring.

Capital is not enough for all services

According to Vayloyan, the goal is to raise around CHF 40 million from investors, “so that we will have around CHF 100 million in capital by mid 2020.” From, the company information shows that Bitcoin Suisse has built up around CHF 55 million in equity over the years ,

“Our balance sheet is already very solid,” says Nikolajsen. “But it is not enough to meet the demand for our services.” Bitcoin Suisse has grown from a startup flat share to a financial company with 122 employees in recent years. Business in 2017 and 2018 was excellent: Bitcoin Suisse generated a cumulative profit of CHF 57 million.

2019 a black zero

Nikolajsen and Vayloyan used the resources to significantly expand Bitcoin Suisse. These investments plus the ongoing bear market in the crypto business will only give the company a black zero for the 2019 financial year.

But Nikolajsen and Vayloyan want to be ready for the next crypto upswing and “have a balance sheet that allows a significant expansion of our business activities”.

Everyone wants to expand

The additional capital is necessary, because with a banking license, Bitcoin Suisse will receive strict requirements as to which transactions must be deposited with how much capital. An expansion of activities, for example in lending, trading and product business, will absorb further capital – which is also why an IPO should follow in two or three years.

This means that four crypto finance companies will be advertising millions of investors in the current year. Jan Brzezek, CEO and founder of Crypto Finance, confirmed to that they are currently looking for capital to meet the capital requirements for the securities dealer license. Crypto Finance wants to expand globally.

Foursome battle for investor funds comes to a head

Seba Crypto has already announced that it plans to raise another CHF 100 million in the first half of the year. Sygnum is also planning a financing round this year, as co-CEO Mathias Imbach says without further details. Sygnum can hold cryptocurrencies without straining the balance sheet.

According to the companies and their own estimates, the four crypto players are likely to look for a total of over CHF 200 million among investors. It will be seen whether the risk capital market can afford that.

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673 billion Dollar on-chain transaction volume for Bitcoin in 2019 Thu, 16 Jan 2020 14:19:02 +0000

Bitcoin’s transaction volume moved close to its peak in 2019, making it more constant than in previous years. Overall, the value transferred by BTC corresponds to ten times what Paypal Mobile Payment Service Venmo did in 2018.

Bitcoin’s network was worth over $ 673 billion in 2019, with some impressive single transactions worth $ 1 billion. At the time, three blocks of Bitcoin were worth $ 8.9 billion in less than an hour.

The Bitcoin network has also succeeded in this feat while fighting against significant market pressure, almost constant skepticism and possible regulatory intervention.

So far, Bitcoin transfers have extended far beyond most altcoins – both for large value transfers and for general crypto use.

While the sending of BTC can be checked in dealing with brokers and exchanges, the network itself is censorship-free. Unlike tokens, BTC transfers cannot be censored or undone, and this is a valuable feature.

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European Central Bank (ECB) publishes white paper on its own cryptocurrency Thu, 16 Jan 2020 14:19:00 +0000

The European Central Bank announced a stage win in the global race for the first introduction of a digital central bank currency (CBDC). In the whitepaper published on December 17, the ECB presents the proof of concept of a CBDC. The project, developed on the DLT platform Corda, combines the protection of pseudonymity with the requirements of anti-money laundering (AML) and counter-terrorism (CFT) in a two-stage payment model.

The ECB’s payment system distributes anonymity evidence that users can use to process small transactions without having to reveal their identity. Every user in the network is identified with a pseudonym and receives a certain number of documents every month. In the case of small transactions, the supporting documents can be used to prevent the transfer of personal data to the central bank or intermediaries.

For larger transactions that exceed the permitted allowance for anonymous transfers, however, the guidelines on money laundering and counter-terrorism apply. Special AML authorities then have access to the transaction details and check the transactions for compliance with the compliance standards.

ECB: No early introduction of a CBDC

The paper makes it clear that the PoC does not mean that the ECB issues a CBDC. The test is said to have merely demonstrated the technical implementation of payment transactions with a digital central bank currency:

    This proof of concept is part of the ECB’s ongoing technical research on the CBDC and is intended to contribute to a broader discussion on this topic. The work done is not practical and does not imply a decision to proceed with CBDC.

The EUROchain research network of the European System of the Central Bank (ESCB) carried out the PoC with Accenture and R3. Accenture is also involved in other current CBDC projects, including in Canada, Singapore and most recently at the Swedish Riksbank. The company also collaborated with SAP to develop a national payment system that also supports digital currencies in payments.

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The number of billionaires buying Bitcoins is growing Thu, 16 Jan 2020 14:18:58 +0000

The youngest US billionaire to go public with his BTC purchase is philanthropist Bill Pulte, who wants to promote crypto adoption.

“I recently bought 11 bitcoins,” is a phrase that many of us would love to pronounce and that Bill Pulte, a billionaire, shares with his 1.75 million followers on Twitter. Bill Pulte is the director of Pulte Capital Partners, one of the directors of Pulte Homes, and the billionaire who gives money and cars to people on Twitter. He is also the grandson of the billionaire founder of housing giant PulteGroup (PHM), which has a $ 10.9 billion market cap.

Now, like many other billionaires, consoles are joining the crypto community. With effect from December 12, 2019, he announced that it had purchased 11 BTC. Through social media, especially Twitter, Pulte promotes the well-being of the poor and wants to change the world. The use of BTC could certainly prove to be an effective way to bring about change.

The billionaire said on Twitter:

Many expressed their delight at the comments, both that he bought BTC and used it to advertise to almost 2 million people. An interesting comment came from Tuur Demeester, founder of the Bitcoin Alpha hedge fund Adamant Capital. He raised the Bitcoin ceiling and said that less than 2 million people could ever own more than 10 BTC given the BTC supply ceiling, and that consoles are now one of those lucky ones.

Buying 11 bitcoins could just be the beginning. Pulte could soon see the value of Bitcoin for its philanthropic work. And most likely, he’ll start buying more bitcoins and eventually join the long list of billionaires holding bitcoin. This list already includes Michael Novogratz, Blythe Masters, Dan Morehead and Tyler and Cameron Winklevoss.

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Kadena fully launches hybrid public blockchain with smart contracts Thu, 16 Jan 2020 14:10:17 +0000

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REMChain mainnet now live bringing next-gen PKI to enterprises Thu, 16 Jan 2020 14:10:17 +0000

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Sugi NFC crypto hardware card and wallet adds support for Ripple (XRP) Thu, 16 Jan 2020 14:10:17 +0000

Sugi, an NFC crypto hardware card with wallet app, announced it has added support for Ripple (XRP). Users are now able to hold, send and receive XRP. With Sugi, users securely sign transactions by tapping the card to their NFC-enabled phone. Consisting of a card and mobile wallet app as its interface, the Sugi card […]

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