SBI Of Japan To Open Cryptocurrency Exchange Soon

SBI of Japan has unveiled plans of opening their cryptocurrency exchange this summer.

The said company had already have received a full license from the Japanese Financial Services Agency (FSA) and has plans of opening it previously in the autumn of 2017 but has since then delayed it.

Issues arising from its capital and business alliance agreement with China’s Huobi Group and Coincheck’s hack were the main reason for the postponement of launch. SBI Virtual Currencies will list major cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Ripple.

It’s CEO and President said that once they launch it will be the top exchange in Japan.

SBI owns one of the largest security brokerage in Japan with 8.5 million account under its belt.

Revolut To Support Ripple and Bitcoin Cash

Revolut, a London-based startup digital banking startup has expressed support for Ripple and Bitcoin Cash as they have included them in their trading platform mobile app.

This is in addition to Bitcoin, Ethereum and Litecoin which they have been supporting from quite some time now. This crypto-oriented trading platform is fully compliant with existing regulation.

This is exciting news to Ripple who has been having trouble getting listed in some of the biggest exchanges in the world.

This could spark renewed interest in it. The same can be said with Bitcoin Cash which unlike Ripple has been enjoying a lot of attention lately (good and bad).

Such a development is generally seen as positive however such an impact to these two cryptocurrencies is yet to be seen.

New Cyrptocurrency Store Opens In Croatia

“Bitcoin Store” is a new cryptocurrency walk-in store located in the City of Split, Croatia.

Customers can buy Bitcoin, Ether and other cryptocurrencies complete with receipts as proof of purchase. A 5% premium is added to every transaction.

This store is said to be the first of its kind in the country and probably in the Balkans.

Bitkonan, the Croatian crypto exchange behind the project plans to set up other similar OTC (over the counter) solutions to other Croatian cities such as Zagreb and Rijeka and possibly to neighboring countries.

Cryptocurrencies’ popularity has significantly increased over the years in this Balkan country.

The numbers of new cryptocurrency startups have grown in numbers and together with it businesses accepting crypto payments with major Croatian cities such as the Zagdeb, Split, Rijeka and Pula all have Bitcoin ATMs installed in its area.

Hong Kong-based Alcohol Company Buys Into Cryptocurrency Company

A multi-national crypto-asset investment company in Hong Kong, Diginex Limited, has sold 51% Stake of its cryptocurrency mining and high performance computing (HPC) operation for $60 million USD to a distributor of alcoholic beverage Madison Group Holdings (HKG:8057).

This agreement will enable Madison to leverage Diginex’s propriety platform Digiassets that can be used by cryptocurrency holders to purchase its high value products.

With this venture Madison has provided a new way of getting exposure to the crypto ecosystem for the Hong Kong Market.

Diginex is a privately owned company that has offices in Hong Kong, Switzerland, Germany and Japan.

Miles Pelham, CEO of Diginex, said that with the new cash injection will enable the company to hasten its journey on becoming a global provider of Distributed Ledger Technology.

Bounty Program To Go After Pump-And-Dump Groups

The US Commodity Futures Trading Commission seeks to put a stop to Pump-and-dump schemes as it has been prevalent in the crypto sphere.

It has created a bounty program that will entice whistle-blowers to expose these schemes.

A lot of altcoins have adhered to this this type of marketing style which has left a lot of bagholders.

This program was instituted by the agency to protect novice speculators from losing a lot of money.

Those who will be caught doing such marketing scheme will be fined up to $1M or more USD.

There is no fixed amount how much will be paid for every successful bounty but eligible whistle-blower can earn anywhere from 10% and 30% of the fines.

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