Cryptocurrency Winklevoss Brothers confirm launching Fiat Backed Stablecoin. Published 5 months ago on September 10, 2018 By Nadja Eriksson Share Tweet Tyler and Cameron Winklevoss, creators of cryptocurrency trading platform Gemini, have gotten permission from New York regulators to dispatch their own Stablecoin, as indicated by a post on Gemini’s Medium Monday, September 10. The purported Gemini dollar currently has the sponsorship of the New York Branch of Money related Administrations (NYDFS). The siblings’ Medium post portrays the coins being sponsored by U.S. dollars that are “held at a bank situated in the Unified States and qualified for FDIC ‘go through’ store protection, subject to appropriate confinements.” The move speaks to the first cryptoasset from the twins, whose mission to dispatch a Bitcoin exchange-traded support (ETF) got a second dismissal from regulators in July. “It’s not simply Gemini Trust,” Forbes cites Tyler Winklevoss as saying: “Yet, you need to construct a network of essential players that are additionally trusted to take care of for the [sic] trust issue of a stablecoin.” Trading of the Gemini dollar starts today, Tyler disclosing to Forbes he trusts it will illuminate issues related with time delays between day in and day out crypto markets and time-confined fiat ones. “…If there’s a value dislocation in a specific market and it’s a Friday night brokers can’t move fiat currency until Monday,” he included. Cryptocurrency analysts have given progressively blended gatherings to stablecoins – cryptocurrencies intended to be less unpredictable – as debate over market stalwart stablecoin Tether (USDT) stews. The NYDFS green light makes the Gemini dollar the “world’s first” directed stablecoin to dispatch, as per the siblings, in spite of the fact that Trust organization Paxos likewise declared its own particular stablecoin’s administrative endorsement Monday, making a similar claim. “These endorsements show that organizations can make change and solid norms of consistence inside a solid state administrative structure,” NYDFS administrator Maria T. Vullo remarked to Forbes. Related Topics:Bitcoin ETFBlockchainCameron WinklevosscryptocurrencydaytradingETFGeministablecointethertradingTyler WinklevossUSDTWinklevossWinklevoss BrothersWinklevoss Stablecoin Up Next Ripple Price Analysis: XRP/USD in a bearish zone, 11 Sep. Don't Miss Monero and the Dark Web. Continue Reading You may like Alert: The Last Chance to Buy Cheap Bitcoin: BTC to the Moon! Alert: Polkadot Blockchain: A threat to Ethereum? Bitcoin: Are we ready for the next crypto bull run? Ripple Price Analysis: XRP Ready for the Major Bull Run? Ethereum Price Analysis: ETH going to correct downwards? Apple going to launch its own blockchain soon? 2 Comments 2 Comments Pingback: Winklevoss Brothers confirm launching Fiat Backed Stablecoin. – The Coinage Times Pingback: BCD Bitcoin Diamond, a scam hard fork of BTC? – Coinance: Bitcoin, Ethereum, Blockchain & Cryptocurrency News Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Bitcoin: Are we ready for the next crypto bull run? Published 20 hours ago on February 18, 2019 By Layla Harding The crypto world has been suffering from a bear run for last one year. It has reached to a ground level after its historic peak in 2017. The value of various cryptocurrencies has been dropped significantly. Now, as the trend of any financial market, a bull run is expected after the bear run. Since the bear market achieved by crypto space is so big, a bull run is unavoidable to come. But the confusion was when? It could have been tomorrow or after some months or some years. But if we go through the recent trends of the crypto space, the next bull run is going to arrive very soon. Let’s discuss some points which prove that the next bull run of the crypto market is going to arrive very soon and we should be ready for that. 1. Improvement in the value of bitcoin and other cryptocurrencies in the last 24 hours: Slowly but gradually, bitcoin has started to rise once again. If we discuss the value of bitcoin on 18 February 2019, it started on $3574 on the mid-night and by the end of the day, the value had an increment of $376, reaching at $3950. This is indeed a good sign for both the bitcoin as well as the crypto space. Even if we talk about the monthly comparison, it was $3441 at the starting of this year. If we focus on the second largest cryptocurrency, Ethereum has also visited a growth of around 17% on 18 February 2018, reaching around $147 from $126. Not only the above two, rather other cryptocurrencies like Ripple XRP, Litecoin etc. also have started to rise. This significant rising in the value of several cryptocurrencies could be a sign of returning of bull run of the crypto market. This means that the bull market of crypto space is on the verge to arrive and we should be ready for it. 2. The chances of the stock market to crash: Another prominent reason for the blossom of the bull run of the crypto market is the prediction of crashing of the stock market and that too soon. There have been the signs that the stock market would crash this year but the signs of crashing have increased significantly. The stock market has seen various factors such as high volatility in recent days, the high-interest rates in US etc. These factors are the sign of crashing of the stock market. Since, there is an inverse relationship between the stock market and the crypto market, with the soon crashing of the stock market, one can assume that the next bull run of the crypto market is going to hit very soon and the investors should be prepared about this. 3. History of bear run and bull run in crypto history: Bear run and bull run- both are the two faces of a coin. One goes and one arrives. If we carefully look at the history of bitcoin from 2009 till today, we can get the trends it has followed in the past. The first bull run it faced after being invented was in mid-2011 when the price rose from $1 in April 2011 to $31 in July 2011. Then a bear run was faced after that it lasted around one year when the value went down to $2.00. Again after this bear run, a massive bull run returned rising bitcoin to $1200 in 2013. After February 2014, again a bear run came and lasted till early 2015 and the price falling down to $200. And again the historical bull run came and led it to $19000 in 2017. After that, the crypto space is facing a bear run. So, if we look at these historical data, we get to know that it’s time for the next bull run and we must be ready for that. 4. The reason for big firms entering the crypto space: The crypto space has not been limited to just small and new companies only. The tech giants are taking the interest in this and this may be the sign that they have understood that the next bull run in so close. If we talk about Microsoft, it in on its way to launch and collaborate with Bakkt, there are also sgn of Apple working on blockchain etc. Recently, JP Morgan has also launched one of its stable digital coins. The trade analyst of these mega giants companies has understood that the next bull run can return anytime and you should also be ready for that. Every element of crypto space is waiting for the bull run to return in the crypto space. The investors, the traders, the cryptocurrencies, big firms etc. all are waiting for the next bull run and if we consider the latest trends such like of above-mentioned ones, you must be ready for the next bull run of crypto market and bitcoin. Continue Reading #Banking Alert: JP Morgan Coin: A threat to Bitcoin and XRP? Published 3 days ago on February 16, 2019 By Nadja Eriksson Jp Morgan, the bank run by Jamie Dimon is launching its own cryptocurrency. JP Morgan has $2.6 trillion in assets, $100 billion annual revenue, it moves more than $5 trillion in wholesale payments every single day and a quarter million employees. It is used by the investment banking crowd, asset management crowd, private banking, private wealth management, and the treasury & security services division. This tells us exactly for whom the JP Morgan Coin is designed for. These are the organizations that are going to be using it. The JPM Coin is a centralized permissioned censorable blockchain based liquidity tool. Many people are even saying that it should not be considered to be a cryptocurrency and it is just a bank coin. The JP Morgan Coin: The JP Morgan Coin is designed to be a stablecoin. They will be starting off with the USD and will be expanding to other key currencies over time. So it will be a global currency within their permission network. It will be providing real-time gross settlements rather than waiting for days for the payments to get cleared. The network participants can transfer tokenized fiat instantly, constantly and with full finality 24X7 which is a major improvement to how the things work currently. The previous model apart from bringing slow was also more prone to fraud and exposed to the old central bank failure and required multiple intermediaries across the interbank network. The main use cases for the JP Morgan Coin will be international payments for sizeable corporate clients circumventing SWIFT and circumventing XRP. JP Morgan Coin may also be used for securities transactions. JP Morgan has previously tested a debt issuance on the blockchain and the token will allow institutional investors to buy debt issuance. Corporations could also use the JP Morgan treasury in order to take the place of their dollar holdings in their subsidiaries all over the world which will open more ways for the big corporate clients in order to move money back and forth. The JP Morgan Coin will be on the quorum blockchain which is a permissioned version of Ethereum which JP Morgan has been using for some time. The quorum blockchain has already seen institutional use cases. Financial institutions can trust that only authorized parties can join their private ethereum network and that the transactions will be confidential. So the JP Morgan Coin is probably for a very small group of elites. The History of JP Morgan: There are dozens of fines that JP Morgan pays yearly all around the world for doing basically the same kind of things. JP Morgan was fined $65 million for trying to vague the benchmark rate. They were fined $1.6 million for failing to meet anti-money laundering and counter-terrorist financing laws in Hong Kong. Citigroup and JP Morgan both had to pay a combined total of $182.5 million after being accused of violating anti-trust laws. Citigroup and JP Morgan allegedly the European Interbank offered rate. JP Mogan was $135 million for improper handling of American Depositary Receipts. In most of these cases, they are not actually found guilty of anything and they just settle. They don’t end up breaking any laws cause they just pay the huge amount of fine they are asked to pay. After the announcement of the JP Morgan Coin, JP Morgan stocks have gone up because of JP Morgan’s clients, this is a welcome sign of innovation. JP Morgan Coin vs XRP: It seems that some banks want their own coin and not XRP which is the supposed to be the banker’s coin. They really don’t want XRP for one reason or the other. Although banks would not want to use the JP Morgan Coin as such they might just have their own coins in future such as Bank of America Coin or Bank of China Coin etc. But we have an interesting situation when it comes down to exchanging value between these banks because XRP is essentially a public ledger vs the JP Morgan Coin which is private. XRP has a permissionless ledger vs JP Morgan Coin has a permission ledger. JP Morgan controls the JP Morgan Coin but they do not control the XRP ledger and remember that the banks like to have control and maybe the other banks are also going to think like JP Morgan but there is still a lot of hope for XRP. JP Morgan Coin may not see very much interoperability between banks, therefore, they might need some kind of bridge and that bridge could end up being XRP. Implications for Bitcoin: There are not many implications for bitcoin at all. Most of the bitcoin enthusiasts have zero interest in things like the JP Morgan Coin. Bitcoin has amazing and unique value propositions and this is not a threat in any way to bitcoin. JP Morgan cannot control bitcoin it is really hard to manipulate the price of bitcoin whereas in case of JP Morgan Coin, they have direct control over it. The current rumors say that JP Morgan is going to use Bakkt for their clients who want to purchase, invest and hold bitcoin. So the JP Morgan Coin doesn’t have threat on bitcoin. Bitcoin is always superior in every way. What are your thoughts on the JP Morgan Coin? Tell us in the comments section below. Continue Reading #Banking JP Morgan Stable coin: All you need to know about JPM coin. Published 4 days ago on February 15, 2019 By Layla Harding The world has seen a significant transition of cash currency to digital currency in the last few years. There has been a lot of innovations, new technology has evolved, new platforms have been developed etc. The competition in this space is very rigorous and this has impacted a positive future of digital currency. In midst of all these inventions, one of the largest financial banks of worked JP Morgan has launched is own digital asset, known as JP Morgan Stable Coin. Since for the very first time any digital assets has been launched from such a big organization, most of the people are confused about the JP Morgan Stable coin. In this article, we will discuss 15 interesting points about JP Morgan Stable coin. 1. It is mainly designed to transfer fund across the globe instantly. Normally, it takes some time to transfer fund at international level but with the evolution of JP Morgan Stable coin, the value can be transferred easily and instantly, though it would be only for JP Morgan customers. 2, It is not a true cryptocurrency. As per most of the cryptoanalyst, there should not be any confusion about the fact that JP Morgan Stable coin is not a cryptocurrency. For a currency to be called as a cryptocurrency, it must be open and don’t need permission to be downloaded, rather it could be downloaded using a platform. JP Morgan Stable coin doesn’t qualify these criteria. 3. Not everyone would be using these coins at the initial stage right now. Only wholesale customers of JP Morgan bank would be able to access these JP Morgan Stable coin at this initial stage. Also, before using these coins, these customers would have to take permission from the bank itself. At this stage, you can’t use these coins without permission. 4. It works on a private and permission blockchain technology known as Quorum which developed by the JP Morgan itself with the help of another mega company of crypto space, Ethereum Enterprise Alliance. This technology is as easier as a Google sheet rather a bitcoin. Also, these stable coins will issue by the JP Morgan bank itself. 5. It is a direct competition to Ripple. Ripple which bags the third largest market cap in this crypto space has been solely providing the service of transfer of payments from one country to other at a very fast rate. Now after the evolution of such same service by JP Morgan, Ripple would be surely affected. 6. This JP Morgan Stable coin would finally be tied up with the dollars. Eventually, it is designed to enable the institutional customers of the JP Morgan bank to perform the instant transfer the payments among each other. 7. The JP Morgan Stable coin removes the trust problem even if for every minted stable coin, really one US dollar is held. This makes this project quite worthy and a bigger one as the above problem was haunting for a very long time for minting the stable coins. 8. Every person/organization that would be going to use the JP Morgan Stable coin would have to complete the process of verifications such as Anti Money Laundering (AML) and Know Your Customer (KYC). This would reduce the chances the fraud and scams in any kind of related transaction using JP Morgan Stable coin. 9. There would be a low risk of the closing of the coin issuing authority as in the case of JP Morgan Stable coin, the issuing authority is a financial entity having a yearly revenue of around $109 billion. This gives financial trust to people who are going to use these JPM coins. 10. JP Morgan Stable coin is presently designed for movement flows of one business to other business. As per one of the official, it would be made for individual use on the analysis of various factors like user response, efficiency profit, and cost-savings. 11. It will be under the supervision of high-quality securities and robust regulators and norms of the JP Morgan Bank which make it more secure and trustworthy digital coin as compared to other digital coins. 12. It is the first time in the history of United States banking that any such big bank has created and successfully tested a digital coin representing a fiat currency, dollar. JP Morgan became the first United State bank to achieve this milestone by creating this JP Morgan Stable coin. 13. The CEO of JP Morgan has once thrashed his opinion about the crypto world and bitcoin. He had used words like fraud and stupid saluting crypto coins. Now, as his bank announced the digital coin, most of the crypto world critics are slamming him and calling this newly launched JPM coin as a weak and fraud competitor to bitcoin. 14. With the evolution of JP Morgan stable coin, the clients would be able to use this coin to replace the US dollar that they have in their bank account to other similar accounts across the world. This will allow them to transfer the money with greater fluidity. 15. People must not be confused that JP Morgan Stable coin because of it, not a cryptocurrency, it is not decentralized, it is not open as well as it is not borderless. As per the officials of JP Morgan, it is a stable digital coin for replacing dollars and for fast payments. 15th February 2019 was a huge day for the crypto and digital world. The announcement of JP Morgan Stable coin set up a new milestone for instant payment across the world and the replacement of cash currency. It has promised a lot of things, let us see whether in future it is able to fulfill all its promises and give a tough competition to Ripple. 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