ALTCOIN, BLOCKCHAIN

Coinbase to Add Eight New Cryptocurrencies

These new assets include, in alphabetical order: Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology, and Waves.
The new assets include, in alphabetical order: Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology, and Waves.

Coinbase is exploring the possibility of adding eight new cryptocurrencies, according to a recent press release.

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Coinbase Logo“Coinbase’s goal is to offer support for all assets that meet our technical standards and which comply with applicable laws,” the company stated.

“Over time we expect our customers around the world will have access through Coinbase to at least 90% of the aggregate market cap of all digital assets in circulation.”

To make this vision a reality, Coinbase evaluates prospective assets against their Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with the company’s mission of creating an open financial system for the world.

As part of the exploratory process, customers may see public-facing APIs and other signs that Coinbase is conducting engineering work to potentially support these assets.

These new assets include, in alphabetical order: Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology, and Waves.

“Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions,” said Coinbase.

“We therefore cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction.”

As per the company’s listing process, they will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations.

The omission of assets from this publication does not disqualify any asset from active review and potential listing.

“Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform,” said Coinbase.

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ALTCOIN, BITCOIN, BLOCKCHAIN

Access Your Cash Without Selling With Blockchain Startup Nexo

Cryptocurrency loan firm Nexo has launched a MasterCard-branded crypto credit card.

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The Arrington XRP Capital-backed financial startup will be the first company in the world to allow customers to spend the value of their cryptocurrency without spending it.

When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan.

Nexo allows users to borrow against an array of cryptocurrencies including bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC), and others.

The company also allows users to earn interest on on several fiat currencies including the U.S. dollar, Euro, British pound, and stablecoins.

Cryptocurrency borrowing and lending platform Celsius Network reported over $300 million in crypto deposits this year with $2 billion in coin loan origination.

In May, cryptocurrency asset management firm BlockFi announced its interest accounts will begin accepting the Gemini Dollar (GUSD), noting that customers can now use the stablecoin as both a funding option, as well as, collateral from institutional cryptocurrency borrowers.

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ALTCOIN, BLOCKCHAIN

Billionaire Launches First Cannabis Cryptocurrency, Global Hemp Exchange

Greek billionaire and television director Alki David and his Swiss consortium launched cannabis-backed token SWX Coin.

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Alki David, CEO of Swissx, with former St. Kitts-Nevis Prime Minister Denzil Douglas (left), who is on the board of the Swissx Bank of Cannabis. Pictured with the Swissx Express jet and Vader, David’s Doberman who is the subject of a Swissx Genetics breakthrough cloning project.

The consortium also launched the Swissx Bank of Cannabis to operate the token.

The exchange will be based in Gstaad, Switzerland, and with a Caribbean headquarters to be named soon.

The token is reportedly based on Bitcoin (BTC)’s blockchain, and a single unit is pegged directly to the median global price of premium hemp flower.

Initially, the bank and its coin will supposedly manage all of Swissx’s financial transactions with its partners in the U.S., Europe and the Caribbean, but the coin is designed to be a transparent venue for all transactions.

Swissx also claims that Prime Minister of St. Kitts-Nevis Denzil Douglas has joined the bank’s board.

SWX will reportedly be used to pay farmers and will be redeemable for cash at any time.

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ALTCOIN, BLOCKCHAIN

Huawei to Launch Cryptocurrency to Compete with Facebook

Huawei CEO Ren Zhengfei has stated he would like to issue a cryptocurrency to compete with Facebook’s Libra, during a recent interview with Italian news agency, Corriere della Sera.

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Ren Zhengfei
Ren Zhengfei

“China can also issue such a currency by itself,” Zhengfei said.

“Why wait for others to issue it? The power of a country is always stronger than an Internet company.”

Earlier this month, China’s central bank, the People’s Bank of China (PBoC), stated Libra may pose a threat to China’s economy.

Wang Xin, director at PBoC, said that if Libra is pegged to mostly the U.S. dollar, China would be at a disadvantage.

“If so, it would bring a series of economic, financial and even international political consequences,” claimed Xin.

Last week, US policymakers cross-examined Facebook executives to get a better understanding of the Libra cryptocurrency.

Many in the crypto industry have been critical of Congress, claiming policymakers are repressing the new product without knowing all of the details.

“We’re putting regulation before the innovation,” said tech billionaire Tim Draper, during an interview with CNBC.

“Facebook just announced Libra. They haven’t even been able to ship it yet, and the regulators are all over them.”

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ALTCOIN, BLOCKCHAIN

Zuckerberg Ready to Work with Policymakers to Launch Libra

During Facebook’s quarterly earnings call, Mark Zuckerberg stated the company will work with regulators for “however long it takes” before launching Libra.

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“We’ve opened a period of, however long it takes to address regulators and different experts and constituents’ questions about this and then figure out what the best way to move forward is,” Zuckerberg said during Wednesdays earnings call.

“That’s certainly what we’re planning to do with Libra. So we worked with the 27 other members of the Association to publish the white paper to put the idea out there, expecting that this is a very important and heavily regulated area and that there were going to be a lot of questions. And we’re going to have to work through that.”

Last month, the company published Libra’s white paper in order to receive and address the concerns of regulators.

“We’re committed to working with policymakers to get this right,” Zuckerberg stated.

Facebook hopes to launch the cryptocurrency project by the Q2 of 2020, but the recent concerns of regulators may push the launch date back.

Zuckerberg’s comments reiterated previous statements made by Facebook’s blockchain lead, David Marcus, who testified before congress regarding the project earlier this month.

Marcus told lawmakers the company would not launch Libra until all regulatory obligations have been resolved.

“We are trying to provide a safe and stable and well-regulated product, so that’s always been the strategy and we’ll continue to engage here,” Zuckerberg concluded.

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