Norwegian Airline Boss to run Cryptocurrency Exchange

Bjorn Kjos, the Norwegian billionaire and CEO of Norwegian Air citizen claimed that his firm, Norwegian Block Exchange (NBX) is to run a cryptocurrency in 2018
09 June 2018   411

Kjos has also hinted he’s seriously developing a framework that will make it possible for airline passengers to pay for tickets with bitcoin and other cryptocurrencies. While the prosperous entrepreneur has been contributing immensely to the continuous growth of Europe’s aviation ecosystem and his airline has achieved an impressive results of being the third-largest low-cost airline in Europe, Kjos is however not done yet. The highly reputable businessman is searching for even champion NBX to great heights that would even contest such large exchanges as  GDAX, Kraken, Huobi, and others.

We’re look[ing] at things that are easy to scale. Among other things, having a cryptocurrency as [a] payment option in the airline. We see that there is a need for a serious marketplace where you can buy and sell cryptocurrencies. One of the most important thing for us is to build an ecosystem around the solutions we develop. In particular, the ecosystem within the Norwegian group is important, but also ecosystems in the airline industry. 
Stig Kjos-Mathisen,
Chairman, NBX

Norway is a known as a rather crypto-friendly region, nevertheless, the officials are always ready to oppress crypto-related businesses that go against the regulations. For instance, in 2017, Nordea Bank AB suspended the bank account of Bitmynt AS crypto exchange. The exchange consequently filed a lawsuit against the bank.

It is curious that in May  2018, the Norwegian court ruled in favor of the bank that ostensibly declared that the exchange’s account was being used for illegal acts, including the purchase of drugs.

In correspondance to all these developments, the NBX founders have made it clear they are doing everything possible to operate within the ambits of the law. If things go well, this new initiative could endow immensely to the growth of the Norwegian cryptosphere.

Huobi Group to Launch Trading Service for Big Customers

The service is positioned as an "an exclusive channel for institutions to ensure safe, compliant and rapid deposit-withdrawal of high-value assets"
15 August 2018   130

Huobi Group launched a new trading service for institutional market participants. 

The service is positioned as an "an exclusive channel for institutions to ensure safe, compliant and rapid deposit-withdrawal of high-value assets."

At the first stage, the service will be available for 100 institutional customers of Huobi. The latter will be able to perform up to 10 I / O operations on a first come, first served (FCFS) basis.

A range of new services will include the following options:

  • an exclusive channel for institutions, providing a safe, fast and legal withdrawal of funds;
  • multitasking, allowing to use in trading a lot of positions, strategies and open up to 1000 sub-accounts;
  • individual limits on the volume of transactions and borrowed funds;
  • individual customer support;
  • access to analytical data of the research department of the company, as well as investment strategies of Huobi Quant Academy.

In addition, for institutional clients, there will be regular Mitaps dedicated to the development of the industry, which will also offer participation in various investment projects.