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BitMax.io [BTMX.com] Announces Listing of Standard Tokenization Protocol [STPT]

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BitMax.io [BTMX.com] has announced the listing of STPT, the native token of Standard Tokenization Protocol, a decentralized network for the tokenization of an asset.

Trading for the STPT/BTC and STPT/USDT pairs will be enabled on Tuesday, June 25th at 10:00 am EDT.

As part of the listing collaboration, the BitMax.io team will provide strategic support to the STP team throughout the platform launch.

Dr. George Cao, Co-Founder & CEO of BitMax.io, stated,

“STP is a necessary project for the overall space. Their focus on unlocking value and building an ecosystem of high-quality assets in this industry made our decision to list them very easy.”

With the listing of STPT, BitMax.io will strengthen its leading trading platform status by continuously adding solid projects, as well as provide more diversified global exposure to the Standard Tokenization Protocol.

About Standard Tokenization Protocol and STPT

Standard Tokenization Protocol’s STP-Standard is an open-source standard that defines how tokenized assets are generated, issued, sent, and received while complying with all necessary regulations. The protocol allows assets of all kinds to be tokenized in a way that makes them fully compliant across jurisdictions and transferable across any ERC20 platform.

Tokens built on top of the STP-Standard will use the protocol’s on-chain Compliance Validator to verify compliance with relevant regulations [i.e. KYC, AML, Accreditation, etc.] as well as any issuer-specific requirements [i.e. ownership concentration, holding periods, voting]. The Validator Committee will serve an advisory function to ensure the Compliance Validator is enforcing the most up-to-date legislation at all times.

About BitMax.io [BTMX.com]

BitMax.io is the industry’s next-generation digital asset trading platform that provides a broad range of financial products and services to both retail and institutional clients across the globe.

This innovative trading platform was founded by a group of Wall Street quant trading veterans and built upon the core values of blockchain, transparency, and reliability, to deliver high-quality client services and trading experience.

BitMax.io always strives to provide its global users with a comprehensive set of trading products. BitMax.io enabled margin trading on Feb. 14th, 2019. The margin trading function is another step forward from a product-offering perspective to better serve their dynamic trading needs.

For BitMax.io users who understand and acknowledge the risks involved in margin trading, they are now able to leverage their tradable asset for a potential higher return on investment through margin trading with sound risk management. The list of digital assets that can be traded on margin has increased from the initial four to 18 different tokens, even including BTMX.

It’s another pioneering move for BitMax.io to enable margin trading in its own native token. It expands the utility functions of BTMX, and incentivizes liquidity on the platform. [The margin trading function of BitMax.io is not available for North American markets.]

Similar to the innovative margin trading launched on BitMax.io, the introduction of this unique Volatility Card has again showcased the team’s deep understanding of the inner working of the capital market and their advanced expertise in financial product design.

BitMax.io Volatility Card is the first volatility-linked derivative product of this platform that allows global users to forecast and trade off price fluctuation of underlying major coins during preset time windows in a simple yet effective way. Named as Turtle and Bunny Card after Aesop’s fable – the Tortoise and the Hare, the card has a quasi-option structure for underlying trading pairs yet largely simplified payout form. Users can purchase a different card for the prediction of price movement either within a certain range [Turtle Card] or above a certain range [Bunny Card].

Those who predict the correct range of price movement will receive the payout equivalent to the notional value of the card. Volatility Card uses a simplified payout form without the complication of settlement and clearing issues common for real currency options. Users just simply select which card to purchase to trade on their view of the volatility of underlying asset either within or above a certain range.

It is easy to understand and use for all types of traders with the need for either very short-term momentum trading or partial risk hedging against outsized price swing in very volatile market conditions.

Conclusion

BitMax.io has experienced significant growth since its launch in 2018 and is deeply committed to providing a high-performance, client-centric trading platform to its global client base. Currently, the platform has over 180,000 registered users, with over 53,000 active community members. The listing of STPT not only broadens its trading pair scope but also helps to attract more volume and users to the platform.

Source :ambcrypto

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Binance announces listing of BCH-pegged tokens on Binance Chain

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Binance, the world’s largest crypto-exchange by market volume, recently made an announcement which should make the Bitcoin Cash community happy. In a recent Binance community post, Changpeng Zhao, CEO of Binance, proposed the listing of BCH-1FD, a token that would be pegged with Bitcoin Cash.

The proposal was put forward to add support for Bitcoin Cash trading on top of the Binance Chain. Bitcoin Cash is only the third crypto-asset to be chosen for the platform after a Bitcoin-backed token was issued in June earlier this year. An XRP-tracking token was later announced by Binance on 11 October.

Binance has claimed that the current listing is aimed at increasing interoperability between different assets, while improving the overall utility aspect of Binance DEX. Binance will initially issue a net worth of $2 million BCH-tokens and the exchange will continue issuing more tokens in accordance with market demands. The issued BEP2 BCH will be backed 1:1 with native BCH tokens and it will be placed in a disclosed reserved address that can be accessed and monitored round the clock by anyone in the community.

CEO CZ welcomed the announcement and stated,

“The BCH community is one of the strongest crypto communities, and we’re excited to collaborate with them on migrating BCH token onto Binance Chain.The BEP-2 BCH token will be pegged to the native BCH. BCH holders can enjoy the seamless token swap experience on Binance.com and non-custodian trading on Binance DEX after the listing proposal is approved by the Binance Chain community.”

Bitcoin Cash was in the news recently after its proponent Roger Ver recently mentioned that Bitcoin Cash will soon resonate with the functionality of a stablecoin too. He stressed that with BCH, users will be able to pay the interest that’s acquired on the fiat currency in the bank, directly on-chain to all the stablecoin holders in the network via a new tool introduced on the BCH network.

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Telegram alleges SEC has falsely identified GRAM tokens as securities

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Messaging giant Telegram has filed a response to the United States’ SEC after being slapped with an emergency restraining order earlier this week with regards to its controversial TON project. The SEC‘s action has delayed its launch, which was originally supposed to happen by the end of this month.

The filed response urges the Federal Court to deny the regulator’s request for a preliminary injunction. According to Telegram Founder Pavel Durov, such an action could be misconstrued by both investors and the general public. Telegram’s response to the Securities and Exchange Commission said,

“Telegram submits that there is no need for the Court to enter a preliminary injunction, which has the potential to be misconstrued by Telegram’s private placement subscribers and the public in this highly-publicized matter, where Telegram has already voluntarily agreed not to engage in the very conduct that the SEC is seeking to enjoin.”

Telegram claimed that the SEC has falsely identified its Gram tokens as securities, and that they are not subject to securities laws in the United States. Telegram also pleaded that it has complied with and cooperated with regulators prior to the lawsuit, providing all requested documents, emails and conversations. The messaging giant’s response follows the SEC’s public statement which said that it plans to further engage with digital asset technology developers.

Earlier this year, Telegram’s ICO had raised an incredible $1.7 billion, assuring the community that the TON project would launch by October 31, 2019 at the latest. Later however, the messaging company postponed the project launch to April 2020.

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Binance U.S. to move slower than Binance.com: Catherine Coley

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While Binance continues its efforts into delivering its growing services throughout the globe, Binance U.S. CEO, Catherine Coley featured in a Fortune interview to uncover what it currently meant for the U.S. establishment. According to Coley, the need for creating a U.S. version of Binance was mainly due to the regulations at hand. She added,

“We bring a marketplace that’s suited for our American users, with the same technology that they can experience on Binance, but with the comfort that it’s within regulation in the U.S.”

Pointing out the main differences between Binance U.S. and Binance.com, Coley highlighted that the U.S. company offers “a selected amount of tokens rolling out in a sequence” in order to achieve adequate liquidity. She added,

“We want to be applying products new to the market and in a cadence that will work with the regulation in the U.S. We will be going at it at a different cadence and speed (from Binance.com), but one that will be in line with the American regulation.”

Binance U.S. is currently operational in 37 states and Puerto Rico, and plans to gain customer base by going through a series of process to procure state by state licences, although Coley could not guarantee any particular time frame for the same. While some of the user functionality might be tweaked to better cater the U.S. crypto market requirements, the CEO assured the U.S. platform will be powered by Binance’s core technology for the matching engine, speed, simplicity, and the security.

Admitting to a delayed entry into the U.S. market, Binance U.S. has been proactive to entice customers, by offering free cryptocurrency trading until November 1 and $15 credits via referral programs. It is important to note that the U.S. version of Binance will also limiting its token listing while complying with the Digital Asset Risk Assessment Framework.

Source:ambcrypto

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