eToro to Acquire Firmo

Firmo develops smart contracts for derivatives that can be supported by “any popular blockchain” and smart contact language FirmoLang
26 March 2019   334

Social investment platform eToro acquired Danish blockchain-startup Firmo, a press release says.

Firmo develops smart contracts for derivatives that can be supported by “any popular blockchain”, including Ethereum, NEO or EOS. In addition, the company is developing a smart contract language FirmoLang.

The acquisition of Firmo will enable eToro to accelerate the growth of our tokenized assets offering. Blockchain and the tokenization of assets will play a major role in the future of finance. We believe that in time all investible assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.

Yoni Assia

Co-founder and CEO, eToro

Firmo will operate as an innovative division of eToro. In particular, the startup will research and develop infrastructure for tokenization of assets and trade operations on the blockchain.

The amount of the transaction is unknown.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.