Bitspark to Issue Hong Kong Dollad Based Stablecoin

Sparkdex.HKD is backed up by Bitspark reserves in fiat HKD and will be audited regularly
30 January 2019   1128

The payment startup Bitspark has released a steablecoin Sparkdex.HKD tied to a Hong Kong dollar. This is reported by the Fintech Hong Kong.

According to the company, this is the first “stable coin” in the world based on the Hong Kong dollar (HKD).

Until now, US Dollar stablecoins have dominated the market but there are other national currencies in the world, like the Hong Kong Dollar. We are proud to have pioneered this landmark first for both the cryptocurrency and traditional finance industry, and anticipate that this will lead the way for much-needed diversity among other currencies within the stablecoin sector.

George Harrap

Co-Founder and CEO, Bitspark

Sparkdex.HKD is backed up by Bitspark reserves in fiat HKD. The coin will be audited regularly with results published quarterly.

The new stablecoin is already on the listing of decentralized exchanges Sparkdex (a division of Bitspark) and BitShares.

LocalEthereum to be LocalCryptos Now

Exchange's team believes they have advantages over LocalBitcoins, which "looks the same today as it did in 2012"
19 November 2019   116

LocalEthereum's P2P platform changed its name to LocalCryptos to support more cryptocurrencies, starting with bitcoin.

The possibility of buying / selling BTC has already been added, in the near future EOS, DASH and Litecoin (LTC), as well as Ethereum-based tokens are indicated.

According to the statement, the platform has more than 100 thousand users around the world.

With rebranding and the addition of bitcoin trading, the site competes with the popular P2P platform LocalBitcoins, and LocalCryptos believes that they have advantages. They include the non-custodian BTC escrow system and end-to-end message encryption.

Platforms like LocalBitcoins are centralized, custodial, and a far cry from private. These platforms are vulnerable to hacks and thefts like a centralized exchange.

LocalCryptos Team

Hackers have stolen several billion dollars from the past, and at least two incidents related to LocalBitcoins traders, the statement said.

LocalCryptos does not store user private keys and declares that it gives them full control over the funds.