“KuCoin Enables Crypto Purchases Through Credit Card”
Singapore-based crypto exchange KuCoin has partnered with Israel-based payment processing company Simplex to let its users purchase crypto via credit card. The exchange has already added the service to its assets page, the announcement reports. Now users can purchase Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash ABC (BCHABC) and Litecoin (LTC) for both dollars and euros. The service is reportedly available in more than 100 countries. As the release notes, Simplex — which also has offices in the United Kingdom, U.S. and Lithuania — has already provided its “fraud-free” payment processing services to other companies, such as Shapeshift, the Litecoin Foundation, Xapo and Changelly.
Russian billionaire Vladimir Potanin wants to launch cryptocurrency tokens pegged to the precious metal palladium. Potanin also wants to establish a regulatory framework for digital platforms in order to promote crypto use in Russia. Potanin — whose net worth tops $18 billion — is the richest man in Russia and the CEO of Norilsk Nickel, a nickel and palladium-mining company. The Russian oligarch wants to launch several digital platforms, including one that will use cryptocurrency tokens for trading palladium.
“Swiss ICO Violated Regulations”
Switzerland’s finance watchdog has found that the cryptocurrency mining firm Envion AG, which raised millions through an initial coin offering (ICO), held the sale illegally and “seriously violated” laws. Announcing the news on Wednesday, the country’s Financial Market Supervisory Authority (FINMA) said that Envion unlawfully received public deposits worth over 90 million francs ($90.33 million) from at least 37,000 investors through its token offering early in 2018. FINMA began investigating Envion in July 2018 for potentially breaking financial market rules. In Wednesday’s statement, the regulator concluded that Envion carried out the offering without the necessary banking license in place.
“Ledger and Legacy Trust Together Launch a New Custody Product”
To accelerate the flow of institutional capital into digital assets, Ledger and Legacy Trust forged a partnership to form Ledger Vault. The new product is a multi-authorization wallet management tool for digital assets that offers both hardware and software security benefits. It will allow cryptocurrency exchanges, OTC (over the counter) desks and investment funds to appoint an independent qualified custodian, as well as tailor the rules to transaction authorization individually for all accounts, according to the announcement. The custodian will be able to make transactions without the need for multi-signature participants to be physically together, speeding up the usually slower process.