CoinPennant Startup to put Copytrading on the Blockchain

Copy traders permit the investment decisions made by a more knowledgeable trader to exert a portion of the funds in their own trading accounts
27 May 2018   638

CoinPennant is going to develop this tendency by channeling advice from instituted traders for those who wish to enter the fast-paced cryptocurrency investment space by using a combined social network and blockchain-based copy trading platform. CoinPennant’s lead business developer, David Hoverman claimed that the fast-growing and volatile cryptocurrency sphere is  daunting to newcomers as the market is beset by risk and fear, uncertainty, and doubt. He explained:

It’s not necessarily due to lack of access but just lack of knowledge. Good, reliable information, especially in relation to trading, is hard to come by, and generally, when you come by it, it’s expensive to obtain.
David Hoverman
Lead Business Developer, CoinPennant

The CoinPennant team firstly presented a subscription-based model according to which the algorithms would be used to analyze market data and push trading indicators to a user’s dashboard. During its study, it pointed out online “signal groups” suggesting information and opinion for a regular financial payment. Some were unreliable, but some were legitimate, as was claimed by Hoverman. This gave the team the idea to deploy its services. 

Together with its original data analysis services, the firm will fold a marketplace for crowdsourced trading advisory services into its platform. Investors will enter the market via a social community that allows them to cooperate with each other and follow those with “master trader” status in the network.

These master traders are people who have been trading Bitcoin and ether since Bitcoin was priced at $500. They could be either individuals or groups who are really good at technical and fundamental analysis and merging the two together to predict the market movements.
David Hoverman
Lead Business Developer, CoinPennant

Newbie traders can shadow the established traders in two ways. The company will also fallback 26 percent of the total tokens produced by the founders and team, 10 percent for advisors and partners, 7 percent for early adopter master traders, and 12 percent for an airdrop. The exact number will be determined by the means contributed. 

The presale and crowdsale are to held in Slovenia, where the most of the founding team resides. CoinPennant will soon declare further details of the crowdsale, that  Hoverman claimed will not be suggested to U.S. citizens.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   67

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.