This week in the Hodler’s Digest, Starbucks corrects media hype — you cannot buy your favorite Frapp with BTC — and the SEC postpones a BTC ETF decision until this fall
The Commonwealth Bank of Australia (CBA), the country’s largest bank, has won a mandate from the World Bank to become the sole arranger of a bond exclusively created and managed on a blockchain. Dubbed ‘bond-I’ – Blockchain Offered New Debt Instrument- with a nod to Australia’s famous Bondi beach, the pioneering issue will be the … Continued
The post World Bank Picks Australia’s CBA to Deliver ‘World’s First Blockchain Bond’ on Ethereum appeared first on CCN
An Australian data center operator and its cryptocurrency subsidiary are developing what they describe as the country’s first “behind-the-grid data center” powered by renewable energy. Situated in the coal-mining town of Collie, some 200km south of Perth, the new facility is being developed by data center operator DC Two and subsidiary D Coin and will … Continued
The post Australia Could See First Solar-Powered Bitcoin Mining Farm in Coal Town appeared first on CCN
In recent news pertaining to virtual currency exchanges, Coinjar has launched Australia’s first cryptocurrency index fund; Square’s latest quarterly report has revealed that company is executing its crypto trades via the over-the-counter (OTC) markets rather than “public cryptocurrency exchanges;” and Poloniex has launched EOS pairings.
Coinjar Launches Australia’s First Crypto Index Fund
Coinjar, a financial and cryptocurrency services company based in Australia and the United Kingdom that claims to have processed over $1.2 billion in virtual currency transactions, has announced the launch of Australia’s first cryptocurrency index fund.
The “Coinjar Digital Currency Fund” is an index fund targeting wholesale investors. Eligible investors must have net assets of at least $2.5 million AUD or have a gross income of no less than $250,000 AUD for the previous two years. Minimum contributions from new investors have been set at $50,000 AUD, whilst current investors are able to make incremental payments of at least $10,000 AUD.
The fund has two “classes”; ‘Bitcoin Class’ – “which provides exposure to Bitcoin (BTC) only”; and ‘Mixed Class’ – which “aims to track the performance of four digital currencies, weighted by fixed supply – Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC).” The fund does not incur “establishment costs, contribution fees, or performance fees,” however, “Management fees are 1.3% per annum for Bitcoin Class and 1.8% per annum for Mixed Class plus normal operating costs.”
Jordan Michaelides, institutional head at Coinjar, stated: “We are launching the Coinjar Digital Currency Fund to handle the custody risks, simplify the investment process and provide industry best practice in security for wholesale investors.”
Quarterly Report Shows Square is Trading Crypto Via OTC Markets Rather Than Exchanges
Financial and merchant services company, Square, Inc., has revealed in its most recent quarterly report that the company is trading bitcoin via “private broker-dealers” rather than “public cryptocurrency exchanges.”
Analysts have speculated that the move will facilitate Square providing a cryptocurrency platform with reduced price volatility when trading larger volume. Meltem Demirors, chief strategy officer at Coinshares, stated, “Working with a broker likely gets Square better pricing and better execution services than floating orders on the open market, as well as more confidentiality.”
Hunter Horsley, the chief executive officer of Bitwise Asset Management, has also praised Square’s decision to trade via the OTC markets. “There are many merits to trading OTC, which might be motivating Square’s switch,” Hunter said, emphasizing the reduced risk of slippage when trading OTC. “Prices, net of fees, are often better, especially for large orders,” he added.
Poloniex Launches EOS Pairings
Poloniex has announced the introduction of pairings for the fourth most traded and fifth largest cryptocurrency market by capitalization, EOS. Pairings are now live for EOS/USDT, EOS/BTC, and EOS/ETH.
At present, Poloniex has expressed that it plans to only support EOS mainnet tokens, and “will not be accepting deposits of the ERC-20 variant or providing conversion to mainnet tokens.” Additionally, Poloniex “will not be supporting EOS airdrops for the time being.”
What is your response to Square’s move to trade crypto via the OTC markets rather than major exchanges? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Square Inc., Poloniex
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Exchanges Round-Up: Coinjar Launches Aussie Crypto Fund, Square Trades OTC appeared first on Bitcoin News.
Fred Schebesta, a 26-year old entrepreneur who co-founded comparison website Finder.com, wants to open a crypto bank in Australia. Schebesta believes that interest in cryptocurrency is growing and soon people will need an institution which can fulfill their crypto needs. Bitcoin is Not a Bubble In an interview with Australian news website News.com.au, Schebesta said that … Continued
The post ‘Multi Billion-Dollar Idea’: Australian Tech Entrepreneur Plans Crypto Bank Launch appeared first on CCN
Queensland, Australia is giving away millions with its Ignite Ideas fund. This week, it posted details regarding the AUD$8.3 million grant ($6.1 million USD). Something like 70 regional companies shared the bounty, including a cryptocurrency startup, Travelbybit, which managed to snag AUD$100,000 on its way to promoting tourism using crypto.
Part of Queensland, Australia’s $6.1Mil Goes to Travelbybit
“Tourism is one of Queensland’s most important industries,” Innovation Minister Kate Jones announced. “Travelbybit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments.” The company was chosen as part of a larger government initiative, the Advance Queensland Ignite Ideas funding.
Minister Jones continues, “Ignite Ideas was about supporting entrepreneurs from across Queensland to grow their businesses and employ more staff. I understand TravelbyBit is specifically targeting places like Bundaberg – using cryptocurrency to make it easier for tourists to book holidays. That’s why we’ve invested to help them scale-up their operation and ultimately create more jobs in Queensland.”
First Queensland, and Then The World
Queensland, Australia is the country’s third biggest state by population. This week, it posted details regarding the AUD$8.3 million grant ($6.1 million USD). Something like 70 regional companies shared the bounty.
Travelbybit has a point of sale payments application popular with local businesses, restaurants, tour companies, and resorts. It services bitcoin cash (BCH), bitcoin core (BTC), litecoin, ethereum, and NEM. The company has been awarded AUD$100,000 from Ignite Ideas in the hope it will expand even beyond its current stable of merchants.
Travelbybit CEO Caleb Yeoh noted, “We have more than 150 merchants across Australia using our system and this funding, to develop a purpose-built platform that will accept digital currencies from anywhere in the world, will allow us to add jobs not only directly to our team but also across the broader tourism industry.”
What do you think of Queensland’s decision to target cryptocurrency tourists? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Wikipedia
Need to calculate your bitcoin holdings? Check our tools section.
The post Queensland, Australia Invests Portion of its $6.1Mil Ignite Ideas Fund in Crypto Startup appeared first on Bitcoin News.
Following a detailed study, South Korea’s Financial Supervisory Service has advocated the development of an integrated blockchain system for stock transactions
Australian bitcoin exchange CoinJar has launched the country’s first cryptocurrency index fund available to wholesale investors. CoinJar Launches Australia’s First Crypto Fund Announced on Thursday, the CoinJar Digital Currency Fund provides a convenient way for wealthy Australian investors to obtain exposure to cryptocurrencies while offloading the custodial responsibility to another entity. The Digital Currency Fund … Continued
The post Bitcoin Exchange CoinJar Launches Australia’s First Cryptocurrency Index Fund appeared first on CCN
The government of Queensland, Australia’s second largest and third-most populous state, is backing a local crypto payments startup that officials believe will help boost tourism in the state. In an announcement on its official website on Wednesday, the Queensland government revealed details of an AUD$8.3 million grant given to 70 domestic companies looking to innovate … Continued
The post ‘Bitcoin Boost’: Australian State Government Invests in Crypto Startup for Tourism appeared first on CCN
The state government of Queensland, Australia, has invested in a digital currency tourism startup to boost the tourism industry in the province
The Commonwealth Bank of Australia (CBA) has announced the successful completion of a global trade experiment involving a shipment of 17 metric tonnes of almonds from Australia to Germany using blockchain tech. The CBA, one of Australia’s so-called “Big Four” banks, announced the successful blockchain-powered shipment of the international trade endeavor involving the bank and … Continued
The post Australian ‘Big 4’ Bank Taps Ethereum Blockchain for 17-Ton Almond Shipment to Germany appeared first on CCN
The Australian government has provided a grant to a project deploying blockchain technology to ensure the provenance of sustainable sugar
A new partnership sees the Commonwealth Bank of Australia send 17 tons of almonds to Europe with blockchain
Coinbase now offers crypto currency-backed electronic gift cards in a number of selected markets in Europe as well as in Australia. The company sees this move as giving its clients “greater flexibility and control over how they use their crypto.”
Coinbase Gift Cards
Coinbase, the San Francisco-based cryptocurrency exchange supporting BTC, BCH, ETH and LTC, has announced this morning that, starting today the trading platform offers direct withdrawals into e-gift cards for its customers in Europe and Australia. This means that users in the applicable markets are now able to instantly spend their cryptocurrency balances from the exchange service with e-gift cards.
This development has been achieved by partnering with the London-based startup Wegift. It allows customers to spend their crypto with many known retailers, like Nike, Tesco, Uber, Google Play, Ticketmaster, Zalando, and more. This new service is currently available in the UK, Spain, France, Italy, Netherlands and Australia. Additionally, Coinbase promises to keep expanding the number of retailers and markets over the next three months, as well as to seek and to expand into other countries soon after this period.
Making Crypto Easier to Use
“Customers purchasing an e-gift card will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts. From converting bitcoin into Uber credits or ether into a Nike shopping spree, customers will have greater flexibility and control over how they use their crypto,” stated Zeeshan Feroz, Coinbase UK CEO. And he added that: “Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience. With the launch of e-gift cards, customers now have the option to spend their crypto balances, realizing its value to buy tangible things or experiences.”
Coinbase, already valued as high as $8 billion, had a couple of very positive developments recently. The company reportedly landed a $20 billion hedge fund as a prime client and got its ads reinstated on Facebook, Instagram and Google.
Are exchange-backed cryptocurrency gift cards a proper alternative to online merchants accepting bitcoin directly? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.
The post Coinbase Now Offers Crypto currency Gift Cards in Europe and Australia appeared first on Bitcoin News.
Coinbase has jumped on the cryptocurrency gift card bandwagon, with users across the EU and Australia now able to spend their crypto balances on e-gift cards
HBUS, the American “strategic partner of Huobi,” has released a high-volume trader API
A director at ‘big four’ accounting giant PricewaterhouseCoopers (PWC) in Australia has quit the firm to join crypto exchange bitcoin.com.au as its newest CEO. Ben Ingram left PwC Australia back in March, where he was responsible for digital strategy, accounting and consulting, as its director before taking over the exchange as its chief executive, Business
The post ‘Big Four’ Giant PwC Director Quits, Joins Cryptocurrency Exchange as CEO in Australia appeared first on CCN