“Crypto Payment App Launches Libra Killer”
Cryptocurrency payment app Metal has launched as a full version in what creators say will dominate the market over Facebook’s Libra. Metal functions as a P2P payment app, and now supports various tokens including Bitcoin (BTC) and Ether (ETH). Previously, the only payment option supported by the app was its own in-house token, Metal (MTL). This week further saw news that major cryptocurrency exchange Binance was preparing Venus, another crypto-focused competitor for Libra.
“South Korean Exchange Bites The Dust”
South Korea’s Prixbit cryptocurrency exchange has officially closed down. In a website post dated Aug. 9 and entitled ‘Prixbitend,’ the exchange declared it would cease operations. The move was subsequently reported by local press. The exchange said it had worked hard to deal with hacking, money laundering and voice phishing. It promised to return all deposits for people who had provided customer information to allow for return. For other tokens still on deposit, the site encouraged the owners to register for a refund as soon as possible.
“NYS Supreme Court Rules Against Bitfinex”
The New York State Supreme Court has decided that it has jurisdiction to rule over the case between the New York Attorney General (NYAG) and iFinex, the parent company of cryptocurrency exchange Bitfinex. The decision now allows the NYAG to continue its investigation and demands the company to produce documents at the request of the law enforcement agency, according to a filing. iFinex previously appealed to the court to halt the NYAG investigation over its alleged commingling of funds to cover up an $850 million loss, among other issues. In response, the NYAG argued that it was too early for the court to address jurisdictional questions during an ongoing investigation.
“Rakuten Announces The Launch of Its Crypto Exchange”
Rakuten, the “Amazon of Japan,” announced the launch of its new crypto exchange platform Monday, August 19, offering spot trading of crypto assets via a dedicated smartphone app. The e-commerce giant has been crypto-friendly for a while now, experimenting and investing in crypto payment systems since at least 2014, but with the launch of the wallet exchange service, Rakuten Bank users are now able to buy, sell, and exchange BTC, BCH, and ETH, as well as utilize fiat off-ramps to personal bank accounts. Other formidable forces in e-commerce are working hard to jump on board the crypto train as well.