Coinsquare to Launch CAD Based Stablecoin

New coin will be traded under the ticker eCAD, but there's no info when it's going to happen
05 April 2019   759

Canada's leading bitcoin exchange Coinsquare has announced the launch of its own stablecock, which will be provided by CAD. The new coin will be traded under the ticker eCAD.

Toronto-based exchange notes that the new coin will be “a transparent and reliable asset that global investors can use as a store and transfer of value and as an alternative to several USD-backed stablecoins."

We are thrilled to announce the first step of our plan to bring stability and opportunity to the Canadian cryptocurrency market. The launch of eCAD™ will create the first transparent, affordable, and secure way of transferring value in Canada and beyond, without the risk of instability in the traditional cryptocurrency market.
 

Cole Diamond 

CEO, Coinsquare

The exact date of new asset isn't reported yet.

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   315

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.