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Crypto Corner: Market Holds, #Coinbase Announces Crypto-to-Crypto Conversion, Malta to Get #Blockchain Bank and Tether Appears to Have Fiat Reserves

December 18th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - December 18, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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Crypto Corner: Market Holds, #Coinbase Announces Crypto-to-Crypto Conversion, Malta to Get #Blockchain Bank and Tether Appears to Have Fiat Reserves

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Crypto Corner

Market Holds, Coinbase Announces Crypto-to-Crypto Conversion, Malta to Get Blockchain Bank and Tether Appears to Have Fiat Reserves

The modest rally we witnessed yesterday has continued somewhat into today as the top 100 coins listed by market cap are still largely green. Total market capitalization has risen from $110 billion yesterday to just under $115 billion at press time, according to data from CoinMarketCap. Bitcoin (BTC) saw a modest increase of 3.3 percent in that last 24 hours and is once again followed by XRP, Ether (ETH) and EOS with increases of 9.7, 4.8 and 14 percent, respectively.

Crypto exchange giant Coinbase has announced via blog post the introduction of a new feature called Convert, which allows direct crypto-to-crypto conversions. Conversions will take place "instantly" and initial cryptos available for conversion are Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX) and Bitcoin Cash (BCH). The service is only available to U.S. customers but Coinbase will be "gradually rolling out the ability to convert cryptocurrencies to customers in all 34 countries in which Coinbase offers native payment access."

Malta, the "Blockchain Island", is going to get a blockchain bank, according to a report from CCN. The report states that: "OK Group's investment arm, OK Blockchain Capital Limited, announced that it is the anchor investor in RnF Finance Limited, a Maltese based company applying with the Malta Financial Services Authority for authorization to act as a credit institution." CEO and founder of RnF, Roderick Psaila said:

The Bank shall engage into four main business streams: Offer banking services to corporates; Lending; Private Banking and Wealth Management. We are targeting big corporates and private clients and the mentality would be that no industries are vetoed beforehand but each application will be treated on a case by case basis.

Bloomberg reports that stablecoin Tether (USDT) may in fact be backed by US dollars that the cryptocurrency is pegged to. Bloomberg investigated Tether bank statements to see if fears that they had exaggerated their fiat reserves were founded. Though not conclusive, the report indicates that the information gleaned from Tether's bank statements suggest that they are legit.

Sam Mowers, Investorideas

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Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD) Subsidiary Fit Pay Flip<sup>TM</sup>

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

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GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io


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