Collaboration with Wave helps to simplify exchange of documents

Collaboration with Wave helps to simplify exchange of documents
28 November 2017   354

BBVA (Banco Bilbao Vizcaya Argentaria) has launched a system for paperless trade

transactions, which involves using of blockchain technology. Partnership of BBVA and Wave allow for cutting time of document submission. Earlier it took from 7 to 10 days but such a technology helps to reduce waiting time to 2,5 hours.

The first bargain with using this system was a transaction between Spain and Mexico. Usage of letter of credit, which is the most way to pay for wares in international trade, implies preparation of a pile of documents and the main problem during that process is a big probability of human error.

The new technology allows to validate a bargain for both parties simultaneously with using of electronic signature. The information about goods can be changed until wares are received in the buyer’s country thanks to Wave’s system.

The pilot proved that the blockchain can be used in international trading system and will help to simplify transactions.

 

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   109

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.