Mitsubishi to launch a regulatory framework for BTC trading

Mitsubishi UFJ Financial Group is going to set a hedge mechanism for Bitcoin trading, aimed at reducing risks and market volatility
27 December 2017   1499

Mitsubishi UFJ Financial Group, one of the world's largest comprehensive financial groups, comprising a diverse range of leading companies in a wide field of financial businesses, is reportedly working to set up a hedge mechanism for investors is order to let them maintain Bitcoin holdings safely.

The decision was made in the aftermath of the high volatility of cryptocurrency market and the riskiness of Bitcoin trading. The financial units of Mitsubishi are looking for the reduction of costs and elimination of the possibility of downturn in BTC trading. 

Moreover, Mitsubishi is planning to keep the records of Bitcoin transactions in the ledger, which will be used to guarantee the holders of BTC the safety of their funds in case of the exchange failure. However, the crypto assets will not be refunded to traders if BTC price drops. The Mitsubishi Financial Group will work as the central bank works towards fixed-income exchange.

Thus, the hedge mechanism of Mitsubishi will presumably let the Japanese financial industry to capitalize on the volatility of the Bitcoin market and reduce the risks connected with BTC trading.

Previously, we have reported that Mitsubishi UFJ Financial Group and NTT DATA announced the launch of a Proof-of-Concept blockchain technology.

At the moment of press, these are main market parameters of Bitcoin:

  • Average price: $16 653,30
  • Marketcap: $279 199 652 152
  • 24h volume: $12 642 900 000

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   142

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 
 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.