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ICE Banking On Bitcoin (BTC) and Crypto

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Bitcoin

The main operator for up to 23 biggest exchanges around the world, Intercontinental Exchange (ICE), has recently announced a new global digital assets platform centered around Bitcoin (BTC) and crypto.

ICE announces the creation of a new platform

ICE, which is the operator for the New York Stock Exchange, among others, will collaborate with Microsoft to kickstart a new ecosystem for various digital assets. The new ecosystem will be regulated and open, as well as cloud-powered, courtesy of Microsoft. The announcement came on August 3, and it unveiled that the new company’s name is Bakkt.

Bakkt will be working with an entire group of various enterprises like Microsoft, BCG, Starbucks, and others. The goal of the team-up is to make a platform that will allow merchants, consumers, ass well as institutional investors, to work with their favorite digital assets. They will be able to sell them, buy them, and even store them on the project’s global network.

The first use cases will see the conversion and trade of Bitcoin tokens. The platform users will be able to exchange BTC for fiat currencies, and then use those fiat currencies to buy items at Starbucks. The warehousing and markets used by the new ecosystem are to be federally regulated.

Additionally, Bakkt will offer futures exchange within the US, as well as a clearinghouse plan, that will see the launch of BTC contracts that will be physically delivered, which is to be a 1-day event. Introducing the regulated venues like this will lead to the establishment of completely new protocols regarding the management of specific settlement and security requirements for cryptos.

Physical delivery of BTC futures contracts

ICE’s intention is to design Bakkt as a means of support for transaction flows by mobilizing the infrastructure of a trusted market. Bakkt ecosystem investors will have the ability to include Mike Novogratz’ Galaxy Digital, the venture capital arm of Microsoft, Susquehanna International Group, Pantera Capital, and others.

Originally, the reports of ICE’s potential launch of Bitcoin futures contracts that will be physically delivered came in May of this year. CBOE and CME are currently offering similar deals, but theirs are settled in fiat, which is a big difference between what ICE is going to offer.

Back then, analysts commented on this move by saying that a physical delivery might lead to significant price moves within the crypto market, due to a large stream of institutional capital that is expected to come. According to Mike Novogratz’s estimations, this is just what the crypto market needs. He stated earlier that the institutional investors need a trusted name behind a project like this in order to feel comfortable joining in.

He predicted that someone like HSBC, Goldman Sachs, or a big Japanese bank are needed to give their support to such a project. Additionally, he predicted that ICE would also be a valid candidate, and now, it would seem that his prediction may come to pass.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…

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Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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