Houbi Enters Japanese Cryptocurrency Market

Huobi is entering the Japanese market in a rather aggressive way as it acquired a majority stake of one of the 16 government-approved crypto exchanges in the country, Bittrade.

Eric Cheng, owner of cryptocurrency exchange Bittrade, revealed that the parties intend to aggressively scale their trading platform into the largest in Japan with potential of expanding globally.

This said takeover is part of its worldwide expansion strategy.

Just last month alone Huobi announced crypto exchanges in the Philippines, Russia, Taiwan, Indonesia and Canada.

Ever since Coincheck hack early this year, it has been increasingly difficult for new exchange applicants to get license to operate in Japan, prompting some companies who wants to operate in Japan to partner with existing firms with licenses to buy majority stake like what Huobi just did.

New Platform Enables Users To Launch Their Own Exchange

A company the specializes in providing contract of difference (CFD) and forex technology services, Spotware has release a software solution that will enable its users to start their cryptocurrency exchange out-of-the-box.

The platform is called cXchange which the company describes as the most advance cryptocurrency exchange platform which offer scalable architecture, ultra-fast matching engine and high level of security.

The solutions is also available with native mobile apps for Android and iOS and a 24/7 technical support for all its customers.

According to Spotware’s CEO Alexander Shulman, one of the main advantages of the new solution is its user-friendly logic and interface which unlike what other exchanges use which is seen to be complex and not as user-friendly.

Creation Of A Lobbying Group In Washington

A group of influential people from the cryptocurrency industry is set to create the first cryptocurrency/blockchain lobbying group.

This group will be called Blockchain Association, which launched September 12, 2018.

The non-profit organization hopes to act as the unified voice of the blockchain system.

The newly formed association plans to educate lawmakers about what is blockchain and cryptocurrency technology is, how it works and what will be the benefits it could bring to the public.

To this end it plans to advocate opportunities presented by technologies and encourage regulations that protect customers and support innovation.

Currently, the blockchain association has members from Coinbase, Circle and Protocol Labs and investors from Digital Currency Group and Polychain Capital.

The association is accepting recommendations and applications and said to be rolling out an inclusive membership framework soon.

Retailers In Hong Kong To Use Blockchain To Track Diamonds

The Chow Tai Fook Jewellery Group, a Hong Kong-based jewelry retailer has started to use blockchain platform to track diamond.

The retailer use a blockchain platform developed by Everledger and secured by IBM Blockchain Platform.

The platform will enable the retailer’s customers to ascertain the origin and authenticity of the stones sold in its T Mark-branded stores, using a T Mark App.

The initiative has been deployed to 3,000 T Mark diamonds in four of its stores, and plans to extend it up to 10,000 stones in 10 stores.

The said projects follow the practice of other world industry leaders that has used blockchain technology to track their products such as global diamond giant de Beers who in May announced the tracking of 100 high-value diamonds from the mine to the retailer using its blockchain platform Tracr.

OKCoin Expands To 20 More US States

The Cryptocurrency Exchange OKCoin has obtained approval to expand into 20 new U.S states greatly expanding its reach into to one of the world’s largest crypto market.

OKCoin was previously headquartered in China before being forced to shut its doors in the wake of a government-imposed trading ban. Now it is based in San Francisco, USA.

The Exchange Operator’s CEO, Jim Byun said that his team has worked diligently within the complexities of the US regulatory frameworks and seek to break down the barriers preventing a truly global digital asset market while adhering to a long established regulation.

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