Connect with us


SBI Group’s CEO Drops Bitcoin Cash and Bitcoin SV for XRP



SBI Group

SBI Group’s SBI Virtual Currencies made quite a controversial decision earlier this month when they decided to delist Bitcoin Cash (BCH). Understandably enough, many were confused by the move, which is why the SBI Group’s CEO, Yoshitaka Kitao, decided to explain what happened and what led to this decision.

Earlier in April, Kitao and the board members had an end-of-fiscal-year meeting, during which the CEO stated that coins that regularly go through hard forks are ludicrous. He was referring to Bitcoin Cash, which had seen a hard fork in mid-November 2018. Not only that, but its hard fork is believed to be one of the causes of the year’s second crypto market crash.

No to Bitcoin: Neither Cash nor SV

Kitao explained that the original intention was to provide support to BCH. However, Bitmain’s former CEO, Jihan Wu, had is well-known disagreement with nChain’s chief scientist, Dr. Craig Wright. The disagreement led to splitting up the community, and when the day of the hard fork came — the blockchain split as well. While Wu did manage to take control of the name Bitcoin Cash, SBI Group decided that both BCH and BSV are troublesome tokens that should be dropped.

While Bitcoin Cash is far above BSV on the list of largest cryptocurrencies, SBI believed it to have security concerns at some point. Or, at least, that was the group’s main reason for delisting the coin. The move was interesting as many were seeking to delist BSV at the time, but SBI Virtual Currencies later said that the moment of delisting was not taking a stance and supporting one coin over another. The timing was, supposedly, coincidental, and the company was simply doing what it believed to be the best and safest option.

However, many also pointed out that Kitao had a long business relationship with Craig Wright, which may have had some impact on SBI CEO’s decisionmaking. Of course, SBI dismissed this as a factor entirely, stating that BSV will not be listed either.

SBI CEO becomes Ripple board member

Then, another interesting development happened, only a week ago, when Kitao got appointed as Ripple’s board member.

The California-based company is known for its strong focus on the banking sector, as well as for its products that aim to make cross-border payments instant and much cheaper. As a crypto startup with a lot of potentials, SBI was more than interested in having a long-standing, friendly relationship with Ripple.

So much so, in fact, that they came together to form SBI Ripple Asia, a payment platform initiative that would make use of RippleNet’s infrastructure. Another interesting thing is that Kitao will actually replace SBI Ripple Asia’s CEO, Takashi Okita, on the Ripple board. Many have been wondering what this might mean, or lead to. Some suggestions propose that Kitao might wish to get a leading role in both, international and domestic crypto-based affairs.

Whatever the case may be, it appears that 2019 will bring some interesting changes to Japan’s crypto scene.

For the latest cryptocurrency news, join our Telegram!

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.

Photo by Bagus Pangestu from Pexels


How Can Foreigners Get Loans in Singapore



loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

Continue Reading


Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors




When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

Continue Reading


CoinFlip Scores Big with BRD Wallet Partnership




As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

Continue Reading

Press Release