Launch of New Exchange in Mauritius supported by GMEX

The Mauritian commodity exchange platform is aimed to boost real GDP growth in Mauritius to 4.1%
25 June 2018   549

Being a provider of multi-asset exchange and post-trade technology, GMEX has declared today that it will play a major part in the runh of the Mauritius International Derivatives and Commodities Exchange (MINDEX). As claimed in the statement, MINDEX will be a multi-commodities and derivatives exchange platform. MINDEX will have full controll by the Mauritius Financial Services Commission. The project will create a gold refinery, a secure vault, launch an advanced technologically enabled spot exchange, derivatives exchange and clearinghouse. 

GMEX has been closely cooperating with the British High Commission Mauritius and Department for International Trade (DIT) Mauritius. The DIT has been an active assistant of the firm from the start of its investment journey and has facilitated meetings with key stakeholders.

As an international economic department, we are pleased to be working with GMEX in Mauritius on an investment which will sustain and create jobs in Mauritius and the UK. The MINDEX project will support an ecosystem which creates opportunities in gold mining, refining, storage, recycling, and in commodities trading and financial technology. We will continue support companies’ overseas investments where there is benefit to the UK by offering practical support to investors, facilitating introductions to ease market entry and using our expertise to explain political sensitivities and cultural differences to British businesses.
Graham Stuart MP,
Minister for Investment, Department for International Trade, UK

The CEO of GMEX Group, Hirander Misra, added to the matter: 

Without DIT involvement and support there would have been much less likelihood that the investment would have gone ahead as quickly and smoothly as it has”
Hirander Misra
CEO, GMEX Group

The exchange platform is proposed to be a boost to the Mauritian economy. The MINDEX project will boost real GDP growth of Mauritius to 4.1% instead of the estimated 3.9%. The commodity exchange is also anticipated to be profitable for the economy of the United Kingdom. An increase in exports and repatriated profits back to the UK is estimated at £100 million. It is also foretell to create an extra 1,000 domestic jobs over a five year period, that in return, will facilitate additional UK GDP growth.

OKEx & Kraken to List Bitcoin SV

Kraken notes that Bitcoin SV doesn't meet its usual listing requirements
19 November 2018   74

OKEx Bitcoin exchange, charged holders of Bitcoin Cash with BCHABC and BCHSV coins. Bidding for each asset is available in pairs with Tether USD, Bitcoin, Ethereum and OKB token.

Note that futures, margin trading and fiat pairs will remain unavailable for new assets. The withdrawal of coins is also closed indefinitely.

In turn, the Kraken exchange assigned the BCH ticker to the Bitcoin ABC chain, but also made a decision on the listing of Bitcoin SV (BSV).

WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of:

  • No known wallets supporting replay protection (be careful!)
  • No support in major block explorers
  • Miners apparently subsidized or operating at a loss
  • Representatives threatening and openly hostile toward other chains
  • Chain’s survival may be mutually exclusive with other chains
  • Supply is temporarily constrained because of limited wallet support
  • Some large holders have indicated they’d be dumping everything ASAP
  • Kraken has done only very minimal code review

Custodial losses taken on due to attacks originating from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and threats that have been made, Kraken cannot guarantee perfect custody of BSV.
 

Kraken Team

BSV trading will be available in pairs with Bitcoin, fiat USD and Euro.

Meanwhile, the BSV rate in the last 24 hours fell by almost 30%, dropping below $ 90.