#CryptoCorner: #XRP Discrepancy with Coinbase Framework, SoFi Partners with Coinbase for Crypto Trading, Bahrain Announces Regulatory Framework and Japan’s Mizuho to Launch Digital Currency on March 1
February 27th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - February 27, 2019 (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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#CryptoCorner: #XRP Discrepancy with Coinbase Framework, SoFi Partners with Coinbase for Crypto Trading
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XRP Discrepancy with Coinbase Framework, SoFi Partners with Coinbase for Crypto Trading, Bahrain Announces Regulatory Framework and Japan’s Mizuho to Launch Digital Currency on March 1
The announcement yesterday of XRP's inclusion onto the Coinbase Pro platform has met with some controversy. Blockchain newsletter Diar identified a discrepancy between Coinbase's Digital Asset Framework, which requires that "the ownership stake retained by the team is a minority stake," and Ripple, whose team "holds nearly 60% of the supply in escrow with a release schedule."
Speaking of Coinbase, CNBC reports that the crypto exchange giant has partnered with online finance startup SoFi to facilitate crypto trading on the latter's platform in the second quarter of this year. Under the name SoFi Invest, customers will be able to monitor prices, trade cryptocurrencies and take advantage of "active" investing with the help of a broker and automated, or "robo" advising. SoFi CEO Anthony Noto said:
"Our target audience wants to see what the price of cryptocurrency is, and to buy it. They have a desire to do that and in many cases they already are."
An official statement from their central bank reveals that Bahrain has completed final rules regulating the crypto space. The legal framework covers licensing, governance, minimum capital, control environment, risk management, anti money-laundering, countering financing of terrorism, standards of business conduct, avoidance of conflicts of interest, reporting,cyber security for crypto-asset services, and supervision and enforcement standards. Khalid Hamad, the executive director of Banking Supervision said:
"We will continue to enhance our regulatory framework in order to keep pace with the innovations taking place in the major financial centres around the globe. The CBB's introduction of the rules relating to crypto-assets is in line with its goal to develop a comprehensive rules for the FinTech eco-system supporting Bahrain's position as a leading financial hub in the MENA region."
Nikkei Asian Review reports that Japanese banking giant Mizuho Financial Group will launch a digital currency service on March 1. Known as the J-Coin, the megabank's crypto will be pegged to the Yen. Mizuho will work with 60 other financial institutions in the country comprising 56 million user accounts with digital wallets that can store J-Coin.
Sam Mowers, Investorideas
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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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