Iran Crypto Devs Launch Platform for Flood Victims in Light of US Sanctions

Volunteer cryptocurrency developers in Iran have created a blockchain platform called IranRescueBit, which allows people to make charitable cryptocurrency donations to aid regions in the country in recovering from destructive flooding. Al Jazeera shared the news in a report on Aug. 14. According to the report, the platform supports donations in Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). The government is reportedly not involved in the project. IranRescueBit reportedly allows donors to dodge American sanctions that have insofar prohibited international donations to the Iranian Red Crescent Society, which is a…

Korea Exchange Affiliate Koscom to Launch DLT Platform for Unlisted Shares

South Korea’s state-backed financial IT firm Koscom will develop a blockchain-powered platform for trading unlisted securities. Koscom to launch blockchain-based unlisted shares trading service in H2 2019 Launched by South Korea’s Ministry of Finance and primarily backed by the Korea Exchange, Koscom plans to launch its blockchain-based platform for unlisted securities in the second half of 2019, local newspaper The Chosun Ilbo reported on Aug. 6. According to the report, the initiative six local companies and organizations are participating in the initiative, including Koscom, KEB Hana Bank, Hana Financial Investment,…

Coinbase Must Face Negligence Suit Over Bitcoin Cash Launch, Judge Rules

Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market, a judge has ruled. U.S. District Judge Vince Chhabaria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by the ones who sold BCH. But he denied Coinbase’s motions to move the case to arbitration and to dismiss the buyers’ negligence claims, saying it is “plausible” that the company “breached its duty to maintain a functional…

MasterCard and Nexo Jointly Launch Crypto Credit Card

Instant crypto loans firm Nexo and international payment system corporation MasterCard are jointly launching a cryptocurrency credit card. The development was announced in a press release shared with Cointelegraph on Aug. 2. “World’s first” Nexo claims the Nexo Card to be the first card in the world that enables users to spend the value of their cryptocurrency without in fact spending it. In addition, the card does not consider annual and monthly and foreign exchange fees. Describing the operational concept of the card, Nexo said: “When using the Nexo Card…

Dubai to Launch KYC-Focused Blockchain Consortium for Businesses in 2020

A new partnership between the Dubai International Financial Centre (DIFC), Mashreq Bank, and fintech firm Norbloc aims to launch a blockchain-based Know Your Customer (KYC) data-sharing consortium in 2020. The official United Arab Emirates news agency, Emirates News Agency, reported on the new development on July 31. The DIFC, Mashreq Bank and Norbloc — a Stockholm-based blockchain project focused on KYC and a member of the Hyperledger consortium — are planning to jointly launch the consortium in the first quarter of 2020 to support businesses in Dubai. As part of…

Beating Bakkt, LedgerX Is First to Launch ‘Physical’ Bitcoin Futures in US

The Takeaway Bitcoin derivatives provider LedgerX announced it has launched the first physically-settled bitcoin futures contracts in the U.S. Wednesday. The contracts, which pay traders out in bitcoin, rather than U.S. dollars, will be available to both institutional and retail investors. Customers can deposit bitcoin, rather than dollars, when buying a contract. LedgerX has beaten the Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX to the punch with its new offering. Any U.S. resident with a government-issued I.D. can now trade futures contracts for real bitcoin. Revealed exclusively to CoinDesk, LedgerX…

OpenBazaar Developers Launch a Crypto Marketplace for Mobile

OB1, the developers behind the online decentralized marketplace and currency trading platform OpenBazaar announced a mobile counterpart called Haven. Haven allows users to buy and sell goods and services directly with each other, using cryptocurrencies, without relying on middlemen who take a cut of merchants’ transactions or gather shoppers’ data. The app is organized into four sections: shopping, social, chat, and a non-custodial multi-wallet. For all features of the peer-to-peer network, user information is stored locally and protected with end-to-end encryption, meaning only the parties involved in the sale or…

Facebook Libra Might Never Launch, Company Concedes in SEC Disclosure

Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project. In a frank disclosure in the firm’s latest quarterly report to the U.S. Securities and Exchange Commission (SEC), the firm said that the many barriers it will face regarding regulating a new technology with unclear rules in the U.S. and other nations of the world, mean “there can be no assurance that Libra or our associated products and services will be made available in…

Huobi to Launch Regulated Thailand-Based Crypto Exchange in Q3 2019

Huobi’s Thailand-based subsidiary has sealed the country’s fifth official license to operate a fully-regulated digital asset exchange. An official July 24 announcement from Huobi Group shared with Cointelegraph — the operator of Singapore-based flagship exchange Huobi Global — revealed that Huobi Thailand is expected to launch in Q3 2019, offering both regulated crypto-crypto trading and fiat on-ramps. Global expansion Huobi Thailand will use Huobi Group’s Huobi Cloud platform — a product launched in the summer of last year to facilitate the construction of digital asset exchanges on the basis of…