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Kraken Launches a New Dark Pool for Bitcoin Trades

Kraken which claims that it is the best Bitcoin exchange for converting to and from US dollars, Euros, British pounds and Japanese yen has announced that it has launched a new dark pool for Bitcoin trades. Founded in 2011, San Francisco based Kraken is consistently rated the top Bitcoin exchange by independent news media.

However, the latest service is expected to get a lot of eyeballs the dark pool, which functions as an invisible order book separate from its public offering, is intended to provide a means for traders to move more than 50 BTC. Thus, the traders can now move roughly $12,500 at press time on the market in relative secret.

Kraken which was the first Bitcoin exchange listed on Bloomberg terminals, trusted by hundreds of thousands of traders, the Tokyo government and court-appointed trustee, and BaFin regulated Fidor Bank, with an exclusive partnership and full regulatory compliance. The latest feature will further attract some new traders who wish for invisible order book.

Nonetheless, the new dark pool for Bitcoin trades is expected to become popular as it is used throughout the global financial system, though the practice has faced rising scrutiny from regulators, and banks have been penalized in the past for unlawful activity within the dark pools they operate. Supporters of dark pools say they help stabilize markets and reduce costs.

Elaborating the new service and the feature Kraken CEO Jesse Powell said that now users have better access to the dark pool. According to him many users approached the company in the past about such a feature, noting that previously, it would manually handle large orders at customer request.

Extra 0.1% on dark pool trades

He admitted that there’s been some people for a while going to them and saying they need to work a big trade. According to him they have a few thousand Bitcoin they want to move but they don’t want to put it on the order book because they’re afraid of what that’s going to do the price and structure of the market.

However, with the darkpool from Kraken things will become easier for such users. Interestingly, the company says that it will charge an extra 0.1% on dark pool trades in addition to its standard trading fee, and is limiting access to customers with verified accounts. Now it has to be seen if users pay extra fee for a niche service or not.

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Coinpayments.Net Offers Canadian Dollar Fiat Settlements to All of Their Verified Merchants

In an announcement, Coinpayments.net says that it is offering Canadian dollar fiat settlements to all of their verified merchants. The service is now available to over 13,000 Coinpayments.com merchants via the Company’s 100% owned Cointrader.net Bitcoin Exchange. This is expected to help a large number of users who were waiting for such service.

Nonetheless, the press release from the company says that for the past few months, the company has been working with the team at Coinpayments Inc. of which Newnote holds a 20% equity position, to deliver this latest integration which offers merchants using Coinpayments.com as a payment processor.

This payment processor according to the firm automatically sell their Bitcoin balances on Cointrader.net* and settle via e-transfer or direct ACH transfer to their bank account. Additionally, here merchants can accept 55 different crypto-currencies using one of the 25 popular shopping cart plugin Coinpayments offers.

In a statement issued to media the company informs that Coinpayments has enabled merchants to instantly exchange one coin for another via Shapeshift.io, an API platform that provides instant Bitcoin and Altcoin conversion. Additionally, as US Dollar settlement will be available in the near future, a lot of customers are expected to benefit from it.

Talking at the event, President and CEO of Coinpayments Inc. Alex Alexandrov stated that he is loves crypto but recognizes that purchasing Bitcoin can be often a challenge. Therefore, according to him his is looking to make it super easy with the help of the solution that his company is going to offer for customers.

He admitted that very soon users will be able to simply buy Bitcoin online via Interac Online Checkout on the site via the partnership with Bluzelle.com. Additionally, he informed that the team is very excited to bring more people into the crypto world by breaking down barriers and allowing them to participate.

The Company Accepts 55 Cryptocurrencies

Coinpayments Inc. that operates from Vancouver Canada, is the third largest payment processor and the only company accepting 55 crypto-currencies. Thus, it is quite attractive a solution provider for the customers who wish to have multiple choices when it comes to cryptocurrencies not just Bitcoin.

Needless to say Coinpayments Inc. which has over 13,000 merchants in 146 countries worldwide has been serving the customers with a small team of crypto enthusiasts pride themselves by outperforming the large funded competitive players.
They not just have a vision and goal of making crypto broadly accessible to the both consumers & merchants but the technical knowhow as well


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Case, the Rochester, N.Y.-based innovator in block chain technology Raises $ 1.5 million

Looks like Bitcoin technology companies are attracting venture capitalists quite a lot. This also shows these are able to generate confidence among investors that their money will be generating value in future. The latest entrant is, Case, the Rochester, N.Y.-based innovator in block chain technology. The company has secured $ 1.5 million in seed funding.

According to the company the seed funding was led by Future\Perfect Ventures, along with RRE Ventures and the Rochester Institute of Technology Fund, among others. The funding round follows the launch of Case’s credit card-sized hardware Bitcoin wallet last month at TechCrunch Disrupt NY 2015 at Manhattan Center in New York, N.Y.

Nonetheless, the secure, easy-to-use device leverages multi-signature, multi-factor security with visual validation and global GSM connectivity. The company says that they are building the world’s most secure wallet platform and according to them case is a multi-signature, multi-factor wallet that requires 2-of-3 keys for a transaction to take place.

They also inform that each key is generated and stored in a different location and protected by a different authentication factor so there’s no single point of failure. Some rich features include dedicated hardware that’s malware/virus proof; case servers only control one key so we don’t have possession of funds, etc.

Additionally, they are open source firmware and third party security audits of all systems and designed to meet CryptoCurrency Security Standard Level III.

Case is Poised to Provide Trusted, Decentralized and Biometrically-Secure Services

Talking about the funding series, Case Chief Executive Officer Melanie Shapiro says that the recent announcement that the NASDAQ is piloting block chain technologies for different use cases underscores the promise of the technology and Case is poised to provide trusted, decentralized and biometrically-secure signing of those and similar transactions.
He further added:

We’re looking forward to providing uncompromised security and ease-of-use for Bitcoin buyers, sellers and users, to unlock the potential of Bitcoin and block chain technologies. Making highly-secure signing and authentication available across a variety of applications is just the beginning.

Thus, Case, the company that is developing partnerships with financial services organizations to build consumer adoption of products that deliver the best security and privacy, is now about adoption acceleration. Nonetheless, as part of the launch, Case announced the availability of a limited number of its Bitcoin wallets on a pre-order basis through the company’s website.

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Block26 LLC, a blockchain and Digital Currency Venture Platform Starts Operations

Bitcoin is not just reaching to new segments of population to the regions that were unheard off but also receiving attention from media for several startups starting their operations. The latest addition to the list is Block26 LLC, the Los Angeles-based firm. It aims fund to fortify and finance blockchain technology firms beginning this year.

Though there are several venture capitalists that are showing their interest in funding Bitcoin startups and the companies that are in trouble, Block26 announced plans to invest in hand-selected companies that embrace the blockchain, the revolutionary technology behind Bitcoin. This also shows Block26 LLC is quite sincere about the job it has taken.

Nonetheless, led by Principals and Co-Founders Ni’coel Stark and Pedram Hasid and backed by Lakeshore Capital, among others, Block26 will provide capital, talent, and other resources to incubate a portfolio of startups in the Bitcoin space. A lot of Bitcoin companies are not able to function well as they lack funds to operate; however, this may solve a lot of their issues.

Talking about the launch Principal and Co-Founder Pedram Hasid said that they are launching Block26 to provide the Bitcoin community with much more than financing. He was quoted saying:
"Beyond capital, our global network of experts in fields varying from financial services to software engineering to marketing to manufacturing and supply chain management will fully empower blockchain startups with vision, talent and drive."

Brand New Type of Creative Investor

Sharing his views Principal and Co-Founder Ni’coel Stark said that Block26 is a brand new type of creative investor focused on blockchain technology. He believes that the independent, secure digital ledger known as the blockchain will be the cornerstone of a new generation of applications essential to almost every segment of society and industry.

He was quoted saying that Block26 will develop long-term, synergistic relationships with startups who have the capacity to change the world. Nonetheless, Block26’s involvement will include the development of a spectrum of novel blockchain applications through strategic partnerships, acquisitions and licensing.

Discussing the points Ni’coel Stark added that Block26 is more flexible than an angel fund and more hands-on than a traditional VC. He said:
"Our venture platform will make deliberate but aggressive investments in companies at every stage of establishment, from Seed Round to Series C. Block26 plans to make a proprietary network of resources and capital available to select blockchain entrepreneurs."


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BitInka Becomes the First Universal Bitcoin Platform in South America

There are millions of unbanked people in South America who are in the dire need of financial inclusion. However, as the existing financial infrastructure is incapable of meeting the requirement, Bitcoin has step up. BitInka, a Bitcoin platform that operates in Peru, Venezuela, Bolivia and Brazil will soon expand its services throughout Argentina, Colombia and Chile.

Thus, it has become South America’s first universal Bitcoin platform targeted for the unbanked and all set to emerge as a major choice for remittance market. Founded in 2013 by Roger Gabriel, BitInka is one of the only companies in South America which implemented Bitcoin trading to create a Bitcoin exchange.

This company allows its users to convert or withdraw Bitcoin for many local currencies of South America, including the Peruvian Nueva Sol and the Argentinean peso. Nonetheless, through its international and instant Bitcoin exchange platform, the Bitcoin startup aims to penetrate mainstream Bitcoin adoption as well.

For the purpose it is implementing Bitcoin in day-to-day finances and to provide a platform for users without any prior knowledge about the currency. A couple of years ago, BitInka partnered with local banks, financial institutions and local collection agencies including Banco de Crédito del Perú and Banco de Crédito de Bolivia.

The partnerships enabled it to provide fast and easy withdrawal processes for users. Additionally, for some regions, the company’s Bitcoin exchange and wallet platform will be the first Bitcoin-related application to be introduced. Nonetheless, as the biggest market of South America is based on day-to-day expenses, it will be a great relief for the users.

Bitcoin can Improve Financial Inclusion in South America

For instance, e-commerce, convenience stores, taxis, kiosks (small stores), etc. would become easy, particularly, when credit card penetration is substantially low in South American countries. Furthermore, banks and financial institutions require a long list of documents and qualifications for bank accounts, and credit cards.

The documentary requirements like two government approved licenses, tax income of at least two years, and financial statements from at least two different financial institutions, etc. make it difficult for users to own a credit card in South America. In such a situation Bitcoin gives the ordinary users a lot of relief from financial untouchability.

Pierna Caballero, the co-administrator of BitInka admits that in some countries where the company operates, people are educating themselves recently to use Bitcoin and they are realizing that is something very easy and also is a currency that people themselves control.

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Blockchain technology can Help People Vote Online to Strengthen Democracy

There are no doubts about the role of blockchain technology in the financial technology; however, not a lot of people had thought that this can also be used for enhancing the modern democracy. Though it was designed to democratize power within the financial system, blockchain technology is now playing a role in the area of democracy itself.

Online voting is the demand from the people who though want to vote cannot do so as they are not physically present at the voting center. In most of the countries, the voting percentage is less than 80%. The governments around the world want to increase the number of voters and help everyone vote in the elections as it is vital duty.

Online voting adoption has yet to take off meaningfully worldwide; however, there are various valid reasons behind the not so much success. For instance, the existing platforms are vulnerable to fraud, corruption and sabotage. The governments, people and media don’t trust such arrangements. In such a situation blockchain technology can be of great help.

Increasing examples of political organizations and technology startups experimenting with secure digital voting systems based on the use of Bitcoin’s blockchain technology are helping the governments to think of it. Last year Denmark’s Liberal Alliance became the first political party to vote using a blockchain-based system for its internal elections.

Some other countries like Norway and Spain are trying to bring in similar systems. Talking about the issue, Adam Ernest, CEO of Virginia-based FollowMyVote, an organization committed to developing an online open source, transparent voting platform says that there is a common misconception that voting cannot be done online in a secure way.

The blockchain technology for Transparent Voting

However, according to him the introduction of blockchain technology is changing the conversation as just as Bitcoin users make transactions by sending the digital currency to the recipient’s digital wallet, blockchain voting systems involve creating wallets for each candidate or option in an election.

Nonetheless, as all voters are then allocated a digital “coin” that represents one vote, which they can cast by sending their “coin” to the wallet of their choice. Thus, it will become easy for people not just to vote but also verify the same i.e. the entire process is recorded in the blockchain public ledger, a voter can verify that his or her vote was actually counted.

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Digital Currency Platform Mobuinet Aims Higher, Launches Indiegogo Campaign

The company says that digital currencies should be more than a speculative investment or a trendy toy. The ambition of moBUinet is to help people and businesses around the world to interact, cooperate and exchange in order to combine their resources and talents for their mutual benefit.

The founders of moBUinet believe that the current recession has further magnified the disconnect in the lives, whereby everyone lives in a world with abundant resources though limited opportunity. This according to them has been a result of the global financial system not being capable of combining exuberant capital and technologies.

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Morgan Stanley

Falling prices have impacted heavily on investments in the commodities markets. Many companies are now steering well clear of commodities on the whole. More and more of the big companies are now staying away from commodities trading, but this has paved the way for companies like Castleton Commodities International to become one of the major players in the industry. Of equal importance is the fact that analytical data on commodities trading is now more difficult to come by. Since so many of the analysts that conducted their research are no longer physically involved in commodities trading, there is room for new players to enter the market.

Goldman Sachs

Investment giant Goldman Sachs has been pessimistic about U.S. oil producers re-entering the market now that the oil price has increased over $60 per barrel. What is likely closer to the truth is that U.S. oil companies will start entering the market when the price of WTI Crude and Brent Crude approaches $70 per barrel or more. And that will likely be insufficient to get oil production pumping at full capacity. While production of oil has flattened out, and will drop off, oil inventories are also falling at this time.
At this time, the rig count remains unchanged. As the number of operational wells continues to decrease so the supply of oil will decline too. This will then assist in further driving up prices. It is possible that the price will stabilize in the $70 – $80 range, making it uncomfortable for consumers in the U.S.

Prices will be unlikely to hold if oil wells increase their production when prices rise. By the middle of 2016, it is possible that cheap oil will no longer hold and prices will rise. If oil prices are going to rise, falling inventories and fewer oil wells in operation must come to pass. What is clear is that global oversupply has deteriorated and demand is generally weak. Market movements do not appear to be based on fundamentals, but they will win out in the end!


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PayPal to Acquire San Francisco-based Xoom

PayPal, the giant company that provides money transfer services around the world, has agreed to acquire San Francisco-based Xoom, a company that facilitates the digital transfer of money internationally. According to the announcement the all-cash deal values Xoom at $890 million, or $25 a share.

PayPal President Dan Schulman was quoted saying that expanding into international money transfer and remittances aligns with their strategic vision to democratize the movement and management of money. He added that acquiring Xoom allows PayPal to offer a broader range of services to the global customer base.

According to him the decision to acquire Xoom will help it increase customer engagement and enter an important and growing adjacent marketplace. Moreover, as Xoom is present in 37 countries – in particular, Mexico, India, the Philippines, China and Brazil, it will be great for the company as it will help in accelerating expansion in these important markets.

Nonetheless, as Xoom is a digital money transfer provider that enables consumers to send money and pay bills for family and friends around the world in a secure, fast, and cost-effective way, using a mobile phone, tablet or computer, once it is acquired by another giant in the same sector, the move is expected to attract a lot of attention.

Founded in 2001 by PayPal investor Kevin Hartz and serial entrepreneur Alan Braverman, the company went public in 2013. Xoom President and CEO John Kunze admitted that becoming part of PayPal represents an exciting new chapter for Xoom, which will help accelerate their time-to-market in unserved geographies.

Additionally, he is of the view that it will help them expand the ways they can innovate for customers and become part of a larger, global organization. According to him it will also help them deliver the best possible experience to the customers, while maximizing value for the shareholders.

Expected Strategic Benefits of the Xoom Acquisition

This will extend PayPal’s offering to its customers i.e. broaden consumer offering to its 68 million active U.S. customers by cross-selling Xoom’s services. Additionally, it will accelerate time-to-market and enable expansion into new markets to expand its portfolio of send-markets by leveraging PayPal’s wider international network.

Additionally, this will deliver a strong technology platform as Xoom’s compelling and reliable technology platform and consumer experience are coupled with its excellent customer service. Reacting on the acquisition Schulman said that he is excited to announce that PayPal is ready to make another area of payments better for people around the world.


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Bitcoin is Fast Substituting Traditional Payment Solution in Remittance Market

Though remittances is expected to grow slow sharply in 2015, as Europe and Russia stay weak, there is still a huge market out there that is waiting for cheap and easy as well as fast international transfer of money. Total remittances in 2014 reached $583 billion which is more than double the official development assistance (ODA) in the world.

Whereas India received $70 billion, Chinese were able to send $64 billion back home. Another major economy that receives huge remittances is the Philippines, it got $28 billion. In line with the expected global economic recovery next year, the global flows of remittances are expected to accelerate by 4.1% in 2016, to reach an estimated $610 billion, rising to $636 billion in 2017.
Nonetheless, remittance flows to developing countries are expected to recover in 2016 to reach $459 billion, rising to $479 billion in 2017. Thus, there is a huge remittance market out there and expanding like never before; however, a lot of this goes to payment processing companies which are exploiting the poor migrant laborers from under-developed/developing countries.

Some economies depend heavily on workers’ remittances as these are a significant part of capital flows. However, as a huge chunk of this capital goes back to payment processing companies like PayPal, MoneyGram, Western Union Money Transfer, etc. amongst others, they are looking for an alternative and Bitcoin looks like a fresh air for them.

Bitcoin Companies in Africa, India, China, the Philippines

Though Bitcoin is nearly six year old financial technology, over the last couple of years, some Bitcoin payment processing companies like Igot, Beam, BitPesa and BitX have come up in Africa; Unocoin has come up in India. These companies have spotted an opportunity to build Bitcoin businesses in the regions that need cheap money transfer options.

It has come to notice that a core cause of high fees for remittances is friction i.e. money moves slowly and inefficiently from one country to another. Additionally, transferring money is expensive because there are limited connections between financial institutions and systems which are now being addressed by Bitcoin.

The digital currency is emerging as a right solution for people who may have to pay up to 10% of the total remittance. Though even in Bitcoin money transfer remittance remains deeply dependent on third parties as banks are still validating money transfers from senders to the remittance operator and again to recipients, it has developed cheaper payment processing.

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