19 Chinese exchanges apply for a Japanese license

Chinese exchanges seek second chance in Japan, Singapore, Hong Kong and South Korea
28 October 2017   885

China's relationships with cryptocurrencies and ICOs have been quite tough lately. Following the crackdown by the government last month, Bitcoin exchanges in China are looking to continue their businesses in cryptocurrency-friendly countries such as Japan, Singapore, Hong Kong and South Korea.

For instance, as reported, several Chinese companies are now applying for a license to operate in Japan, the country that legalized Bitcoin as a method of payment in April. Thus, cryptocurrency exchanges are required to register with the country’s Financial Services Agency (FSA). 

There’re at least 19 companies applying for a Japanese license.
 

bloomberg.com

Still, not only Japan is a cryptocurrency-friendly place. These are the Hong Kong-based exchange, Binance, that is looking for local partners and considering acquiring an operational exchange, and Beijing-based exchange Bixin, which has also expressed its interest.

Mike Kayamori, Head of Quoine, the Singapore-based exchange with a strong presence in Japan, comments on the situation.

We’re talking to almost all of those guys. They’re all desperate now. There’s a lot of Chinese retail people reaching out to us, but we can’t handle it. So if a Chinese partner can handle all of those and they connect to us, that will be much easier.
 

Mike Kayamori
Head of Quoine

On top of that,  some Chinese exchanges are turning to Singapore. The managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, reveals that the central bank has no plans to regulate cryptocurrencies. Staying true to this "open mind” perspective, Singapore could become one of the most important countries for the development of Blockchain technology.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   88

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.