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Binance Expands to Jersey on the Road to European Dominance

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Binance is the world’s largest cryptocurrency exchange by trading volume. The company is already rapidly expanding its presence across Europe and the rest of the world. In its latest move, the company signed a memorandum of understanding with Digital Jersey. Another major step in the right direction toward global expansion of cryptocurrency.

Binance is on a Roll

Over the past few months the Binance exchange has made several headlines. The company has set up a headquarter in Malta due to the country’s favorable cryptocurrency and blockchain regulation. Compared to Asian countries, European nations are almost welcoming companies like Binance with open arms. Harsh regulation will drive companies away, and they will take their multi-billion dollar business with them.

Malta isn’t the only European country which shows a keen interest in cryptocurrency. The island of Jersey, while relatively unknown to most, is looking to make a splash as well. This effort is spearheaded by the Digital Jersey organization. The economic development association wants to put Jersey at the forefront of digital excellence.

Additionally, the country’s infrastructure lends itself to cryptocurrrency activity. With its working spaces, training courses, events, and fiber broadband internet access, Jersey is evolving quite quickly. This new collaborationwith Binance will be beneficial to Digital Jersey as well. The association wants to build a blockchain infrastructure which can transform the island into a global hub for financial activity.

Another License on the Horizon

As part of this expansion, Binance will seek to obtain a license and a banking permit. Especially this latter part is of great interest. Opening up more fiat currency gateways for cryptocurrency enthusiasts can only be considered to be a good thing. This venture will also benefit Digital Jersey, as CEO Tony Moretta explains:

“Jersey was one of the first countries in the world to clarify the legal position of cryptocurrency exchanges back in 2015. We can provide a permissive sandbox for innovative crypto businesses to thrive without moving away from the general high standards of regulation that apply in our jurisdiction. We look forward to collaborating with Binance to develop their exchange and compliance function in Jersey, deliver blockchain training as part of our digital skills programme and support the growth of new start-ups in this area.”

For Binance, supporting GBP transactions is a major part of its global expansion plans. Jersey is also close to the UK and Western Europe, which helps the company solidify its market position. The exchange also plans to create around 40 additional jobs to boost the local economy in Jersey. All of this will help bring cryptocurrency to people around the world in the coming years. It is another example of how cryptocurrency is evolving as an industry.

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Ravencoin [RVN] sees a massive volume surge of 61,929% after Binance listing

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The sleeping giant Ravencoin [RVN] has surged significantly with its seven-day volume increasing as much as 61,929%, with a 24-hour volume change at 55% This comes after the coin pumped 257% post its listing on Binance.

Ravencoin seems to be doing well in this everlasting bear market when compared to other altcoins. The price of the coin on October 11, was at $0.014 with a 24-hour volume at $237,252. After the official announcement on Binance blog post, the price shot up to $0.02 in the next day with the price reaching as high as $0.05.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The volume, however, has shot up from $184,000 to a whopping $116 million as on October 22, which is a humongous increase of 61,929%. This is by far the best gains the bear market has seen ever since the fall of bitcoin.

The CEO of Binance, Changpeng Zhao tweeted out the listing saying that the project had no ICO and built up by a team of humble people. Acknowledging the humble community behind the lesser-known project, CZ allowed the project to be listed without any listing fees. The coin was listed on the exchange on October 12, 2018. Notably, Binance holds the #1 spot among exchanges for highest trading volume.Source: ambcrypto

The Ravencoin project is an open source Bitcoin fork launched in January 2018 that focuses on the creation of digital assets on its Proof-of-Work blockchain. The project is a true open source project with no pre-mine, no ICO, no masternodes, and is focused on building a useful technology with a strong community.

Source: ambcrypto

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Ravencoin (RVN) Continues Surge, Up 200% Since Binance News

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RVN Explodes In Value, Up 200% Following Binance Listing

Just days after revamping Binance’s unique listing fee policy, on October 11th, Changpeng Zhao (CZ), the world-renowned CEO of the Binance project, unexpectedly revealed that his platform would be adding Ravencoin (RVN). With hints of a vested interest, Zhao noted that the lesser-known project had no ICO and was built-up by a dedicated community full of humble individuals.

As such, in an apparent nod to the honest Ravencoin team, the prominent CEO decided that the project’s native digital asset could be listed on Binance, the world’s largest crypto platform, without putting forward a listing fee (donation).

Following the release of this surprising development for the project, which was forked off of Bitcoin in January 2018, RVN saw a colossal surge in buying pressure. Some blamed this influx of hype on the kind words CZ said regarding the project, but still, the bottom line is that Ravencoin saw a strong move to the upside.

Preceding CZ’s tweets regarding the project, the crypto asset was worth $0.014 a pop and was seeing close-to-zero volume on the exchanges it was supported on. But, once the tweet quickly circulated through the cryptocurrency community, the altcoin saw a 1000% increase in volume, catalyzing an immediate 20% spike to $0.017. In the days that followed, Ravencoin saw continually growing volume figures, but the price of RVN remained relatively steady. However, as investors awoke on Tuesday, it became apparent that another price surge was in the cards, as RVN moved from $0.018 to $0.033 on Thursday afternoon.

Due to the fact that this second surge was seemingly a residual run-up following RVN’s Binancelisting, the asset pulled back to $0.0279 on Saturday morning. But, earlier today, on Sunday, the team behind the project revealed that its mainnet “for the protocol asset layer” was slated to go live on October 31st, 2018, a mere 10 days away.

This bullish news saw RVN undergo its third surge in the past month, with volumes reaching their near all-time highs as the altcoin moved to $0.0415, a tad shy of its all-time high, which was set in March of this year. At the time of writing, RVN has slightly scaled back to $0.0407, but the digital asset is still posting a gain of 33.15% in the past 24 hours.

But… What Is The Ravencoin Project?Evidently, Binance’s sudden listing of RVN caught many off-guard, as a majority of investors in this nascent industry have likely only heard minuscule tidbits of information about the project on obscure Twitter threads

.In short, Ravencoin is a blockchain project that was built on top of the original Bitcoin codebase that is aiming to revolutionize how assets are transferred from party-to-party. According to the project’s whitepaper,

Ravencoin is an anti-ASIC decentralized platform that will create a “full asset aware protocol level system,” which will allow users of the blockchain to issue assets, like how Ethereum developers can issue ERC-20 ICO tokens,

for example.While this isn’t a new innovation by any means, the team behind this ambitious project seems to have taken a novel approach to token-centric blockchains.

The whitepaper notes:Assets created on the Raven protocol have several advantages: they are easier to use, tightly integrated with a native coin, and secured with fair POW mining and open source code not run by a centralized organization.

Source: ethereumworldnews


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Crypto Exchange Binance Adds Compliance Tools from Chainalysis

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Binance, the biggest cryptocurrency exchange by trading volume, is working with crypto compliance and investigation software provider Chainalysis to implement a new global compliance solution, the companies announced Wednesday.

As part of the partnership, Chainalysis will provide access to its “Know Your Transaction” compliance software, enabling the exchange to monitor cryptocurrency transactions in real-time, according to a press release. In particular, the tool will look for potentially criminal or otherwise illicit activity.

Binance’s chief financial officer, Wei Zhou, told CoinDesk that he hopes the move will “inspire” the crypto industry to take anti-money laundering and anti-terrorism financing measures seriously.

“The ultimate goal of our partnership with Chainalysis is to create an environment in blockchain where everyone feels safe,” he said, explaining, “We believe the fight against money laundering to be collaborative and pro-active.”

While the firm has already invested in know-your-customer (KYC) and anti-money laundering (AML) measures, and hired compliance professionals, he said:”Criminals are always looking to loopholes in the system, so we are continuously on the lookout for new technologies and methods to combat money laundering and malicious actors.”

Chainalysis’ system works by using a combination of pattern recognition, proprietary algorithms and different open-source resources to process cryptocurrency services. If suspicious activity is detected during a transaction, the software will generate an alert.

The tool can also help cryptocurrency companies to ease the process of opening bank accounts, due to its compliance with relevant KYC and AML laws, according to the release.

Chainalysis co-founder and COO Jonathan Levin told CoinDesk that cryptocurrency market participants “must develop greater trust in the data and technology underlying our ecosystem” in order for the overall space to advance.

“By working with industry leaders like Binance, we’re able to mold the foundation for credible and robust markets in all jurisdictions,” he said.

Source:coindesk

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