Tag: Coinbase

Categories
Crypto News

New Coinbase Add-on Facilitates Cryptocurrency Payments Via WooCommerce

Coinbase cryptocurrency exchange announced the launch of Coinbase Commerce, an add-on to the WordPress’ WooCommerce plugin, which would enable the addition of new features within the platform and make it easier for online retailers anywhere in the world to accept cryptocurrency payments.

Through information published in its corporate blog, the cryptocurrency exchange platform explains that Coinbase Commerce will incorporate other features, including the direct payment in Bitcoin (BTC) and Litecoin (LTC), with plans to also add Ethereum (ETH) and Bitcoin Cash (BCH), soon.

The notice states that with Coinbase Commerce payments will be equal to equal, which means that when customers mobilize funds from their digital wallet, they will be sent directly to the address controlled by the merchant being processed in the respective blockchain.

Therefore, they state that neither users nor merchants will have to pay commissions for the transactions they carry out, beyond that which is canceled directly to the network, while the participants will always maintain control of their money.

Coinbase commerce plugin targets to boost cryptocurrency adoption

All these innovations aim to promote the adoption of cryptocurrencies among online shops, to making the cryptocurrency payments system more widespread as part of e-commerce processes.

In this sense, Coinbase had taken several steps forward, since July 25th when it enabled service for the purchase of electronic gift cards with cryptos, which will be available to customers in some European countries. In this case, users will also not pay commissions for exchanging their digital assets for electronic gift cards.

The addition of cryptocurrency payments has also been the goal of other companies, such as the Coingate payment services portal, which launched a pilot program last month that will allow more than 100 online stores and sites to accept Bitcoin (BTC) payments using the Lightning Network (LN) micro-payment network to speed up the process.

Categories
Crypto News

Asian Fund Management Company To Launch A Cryptocurrency Custody For Institutional Investors

The Fusang Investment Office, an Asian-based fund management company is focusing on family businesses, plans to launch a cryptocurrency custody service in Hong Kong, according to the South China Morning Post on Sunday, July 22. The custody service, Fusang Vault, will maintain digital assets for clients, in addition to providing regular audits, according to Henry Chong, the company’s CEO. The service is scheduled to be launched in the fourth quarter of 2018.

In comparing digital assets to financial bonds, Chong noted the growing need to provide an independent third party to hold customers’ cryptocurrencies assets, as well as the demand for custodian banking services in conventional finance.

Chong stressed that, since the possession of digital assets lacks a record of ownership data, a cryptocurrency custody service is of “vital importance.”

Digital assets resemble bearer bonds, so whoever holds the security is presumed to be the owner and there is no record of ownership information about the security. Therefore, how we keep our digital assets protected is of the utmost importance.

Fusang Investment Office to launch a cryptocurrency custody platform for institutional investors such as Coinbase did

Fusang’s CEO added that the firm is already working with insurance companies to safeguard clients’ digital assets, without specifying the features of the next Fusang Vault service.

According to its website, the Fusang Investment Office is regulated by the Monetary Authority of Singapore and authorized by the Hong Kong Securities and Futures Commission.

In early July, Coinbase, one of the world’s largest cryptocurrency exchange platform, launched a cryptocurrency custody solution for institutional investors. The custody platform of Coinbase is operated by an independent member of the United States Financial Industry Regulatory Authority (FINRA) in compliance with the United States Securities and Exchange Commission (SEC).

In general, cryptocurrency custody solutions aim to bring in more institutional investors in the cryptocurrencies market.

Categories
Crypto News

Institutional Investors To Play A Significant Role In The Crypto Market, Says The Coinbase VP

Coinbase Vice President and General Manager Adam White, during a recent interview, asserted that institutional investors would play a significant role for the crypto market since they see cryptocurrencies as a reliable investment asset. This statement is indeed a very bullish assertion regarding the future of the crypto-verse.

During an interview Adam White held at CNBC’s Fast Money talk-show, the Coinbase VP stated that the retail investors hit the breaks, letting institutional investors step in to take the significant role of becoming the primary investors in the cryptocurrencies market.

The role of institutional investors would be a significant one within the crypto market, in the future. To prove its statements regarding the switch from retail investors to institutional investors, Adam White presented Coinbase cryptocurrency exchange figures and new products.

Accordingly, Coinbase chose to invest in new crypto-related services and product, as well as in the new Coinbase Custody platform, specially designed for institutional investors.

Institutional investors will come in large number when the crypto market transparency increases

According to Adam White, Coinbase cryptocurrency exchange platform’s VP, increased crypto market transparency would attract more and more institutional investors. He also added that lowering cryptocurrency regulations’ ambiguity and full compliances with crypto-related legislations would benefit the emergence of increasingly more institutional investors in the market.

We have a long-term vision for space. And we are focused on building the exchange, the wallet, the custodian, that allows capital to move into space.

Adam White, Coinbase Vice President and General Manager

Coinbase cryptocurrency exchange platform introduced the Coinbase Custody service dedicated to institutional investors, among the first platforms in the world.

The emergence of institutional investors would indeed increase the cryptocurrencies trading volumes and would bring the crypto market to the next level, which could mean increased adoption and, above all, higher cryptocurrencies values against the USD.

Categories
Crypto News

Coinbase Cryptocurrency Exchange Obtained The Approval For Listing Cryptos Deemed As Securities

Coinbase, the cryptocurrency exchange and wallet platform, has been approved by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to list cryptocurrencies as securities, according to Bloomberg.

A Coinbase official informed Bloomberg that the SEC and FINRA had approved the exchange to purchase the securities brokers Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. The settlement will permit Coinbase to broaden its portfolio with stock tokens and act as a stockbroker, an alternative trading platform, and a qualified investment consultant. Coinbase initially unveiled the takeover arrangements on June 6th.

The official said Coinbase will now incorporate its technology into the new affiliates, but he didn’t disclose a timetable. Coinbase is required to ensure that the employees are adequately licensed and to revise the manner in which the subsidiaries communicate the data.

Coinbase cryptocurrency exchange platform and wallet must obey the same regulatory framework as conventional stock exchanges

In the past week, Coinbase reported that it is considering adding five new cryptocurrencies including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX) to its exchange platform. Coinbase said it does not guarantee that new tokens will be listed for trading. Also, in June, the cryptocurrency exchange platform reported that it would soon add Ethereum Classic (ETC) and support for the ERC20 tokens.

The SEC declared in March that cryptocurrency exchange platforms that trade digital assets deemed to be securities are required to register with the regulatory bodies as stock exchanges, and will thereafter be regulated under the same standards as conventional stock exchanges. The SEC also stated that the same regulatory requirements also bind institutions that purport to function as an alternative trading system (ATS).

Registration as a broker-dealer subjects ATSs to a number of regulatory requirements, such as the requirement to have reasonable policies and procedures in place to prevent the misuse of material nonpublic information, book and record requirements, and financial responsibility rules, including, as appropriate, provisions relating to the safeguarding and safekeeping of customers’ funds and securities.

Categories
Crypto Markets News

Coinbase Works On Adding Five New Cryptocurrencies, Including 0x (ZRX) and Cardano (ADA)

The San Francisco-based cryptocurrency exchange platform, Coinbase, has announced that it is considering the addition of five new coins, according to an article published July 13th. Accordingly, the crypto trading platform is considering adding new assets to its trading lists, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).

Also, Coinbase said it would negotiate with local banks and regulators to add assets to as many jurisdictions as possible.

In June, Coinbase announced that it would support Ethereum Classic (ETC) on its platform, after which the ETC price increased by more than 25 percent. According to Coinbase, the process of adding ETCs to its trading platform is “proceeding as planned.” Also, Coinbase pointed out that, unlike the addition of ETC, which is technically similar to Ethereum (ETH), the new assets “will require additional exploratory work.”

We may also allow only certain ways to interact with these assets through our site, such as allowing only deposits and withdrawals of transparent Zcash addresses. Finally, some of these assets may be offered in other jurisdictions before being listed in the US.

Coinbase

Coinbase doesn’t know if all these five cryptos will end up listed on the cryptocurrency exchange platform

The crypto trading platform’s representatives said these assets require further study and they have not yet determined when or whether these currencies will be available on the platform. Coinbase further states that “some of these assets may be available everywhere, while others may only be backed in specific jurisdictions.”

At the time of this writing, all the before-mentioned cryptocurrencies are trading green.

In March, Coinbase announced its intention to support ERC20 tokens in its exchange, saying that its decision to add the ERC20 “paves the way for supporting the ERC20 assets in all Coinbase products in the future.”

Coinbase currently supports four different assets, namely, Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Last month, the company embarked on the process of becoming a fully regulated stockbroker with the US Securities and Exchange Commission (SEC). This move would help Coinbase cryptocurrency exchange platform expand its offering and then emerge into the non-crypto financial market.

Exit mobile version