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Stellar Lumens’ XLM reaches Canadian exchange NDAX

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Stellar

The new exchange supporting Stellar (XLM), National Digital Asset Exchange Inc. (NDAX) is a Canadian cryptocurrency exchange based in the province of Alberta. It was designed to serve both retail and institutional clients with the highest quality, security, and compliance with legal standards. Unlike most of the world’s crypto trade platforms, NDAX is fully integrated into the domestic Canadian banking system which allows for more fluidity between the crypto and the traditional financial systems.

Legality is a core issue for NDAX as it’s registered as a Money Service Business in Canada and it practices a philosophy to engage with regulators and traditional financial institutions in a way that can set a new standard in the Canadian cryptoverse. That emphasis on compliance allows NDAX to secure banking services provided by domestic institutions, and to keep the client’s funds in the domestic economic system, instead of sending them offshore.

Earlier yesterday, the Canadian platform announced it’s introducing Stellar Lumens native asset (called XLM) into its trading platform paired against the Canadian Dollar. Also, trading in this pair will remain free until January 31st, 2019.

It’s not typical for assets like XLM to be listed paired against the local fiat currency. Most commonly, exchange platforms around the world, do not allow for buying XLM directly but they pair it against Bitcoin. In other words: if you want to get some XLM tokens, you must first buy some Bitcoin and then you can use the trading platform to exchange them for XLM.

NDAX is not even going to offer an XLM/BTC pairing in the beginning, but it informed in the announcement it will be introduced as soon as a sufficiently liquid trading market develops. No time frame was mentioned for this.

Stellar Lumens is a third generation blockchain project that aims to be a full-fledged platform for decentralized applications and smart contracts based on its native token, XLM. It’s found lots of use cases in the traditional financial world. In this regard, it’s been following on Ripple’s steps and securing strategic alliances with some of the most important banks and remittance services in the world to make the settlement of international transactions as painless, safe, quick and cheap as humanly possible.

One of Stellar Lumens’ critical partners is none other than IBM. Big Blue has chosen this blockchain project as its only partner in the cryptosphere. That means that all the research and project development IBM is doing to explore the uses of blockchain technology will be carried out in association with Stellar Lumens and using Stellar’s technology. If you remember what IBM and Microsoft’s partnership did for Bill Gates in the 80’s and beyond, you’ll understand that this is a huge advantage for Stellar.

The NDAX announcement is great news for a project that’s been reporting lots of good news all year long, and that has managed to keep growing despite the bearish conditions in the market.

Stellar (XLM) is currently trading at $0.1562 in red numbers (6.89%). It’s capitalized at roughly 3 billion USD, which makes it the fifth cryptocurrency by market cap.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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.

Image Courtesy of Pixabay.

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GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

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GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Messari Adds DigitalBits (XDB) & Branded Currencies to its Registry

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One of the top providers of crypto data and research tools on digital assets Messari has announced the addition of DigitalBits (XDB) to the Messari Registry. As a participant, DigitalBits governing body, the XDB Foundation will be providing regular updates and commit to transparency. The DigitalBits blockchain was built to support consumer digital assets – branded currencies.  As the company stated, “a global, legacy digital asset class, branded currencies play a vital role in consumer-brand interactions, and account for billions of dollars in value.  Branded currencies issued on the DigitalBits blockchain will also be included within the Messari Registry.”

Additionally, Messari and the XDB Foundation “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits. This registry would address issues consumers face when determining the legitimacy of branded currencies and their respective organizations,” the announcement said today.  The goal is to provide a standardized framework for organizations leveraging branded currencies, certifying asset legitimacy, and clearly outlining characteristics including but not limited to asset issuance and organization identity.

Commenting on the news, Messari representatives said they recognize the potential for the use of branded currencies to grow in the future as more enterprises embrace blockchain technology. Ben O’Neill, Vice President, BD & Operations at Messari said the Registry will help all…

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