One crypto to many exchange service released by Shapeshift

Shapeshift launches new service Bitfract to allow exchange from one crypto for many in one go
27 February 2018   553

Instant cryptocurrency exchange has launched beta version of the new service. Bitfract is a new step for forming diversified portfolios for experienced investors and newcomers alike. The obvious advantage is the ability to form multi-crypto portfolio avoiding multiple transactions and corresponding fees. The client pays only standard Shapeshift's transaction commission and recieves several coins in one go.

Shapeshift has long become one of the most popular exchanges on the account of its speed, convenience and versatility in working with cryptocurrencies. Integration into wallets has given the users ability to perform swaps between cryptos without first transferring funds to a centralized exchange, removing intermediaries and fees for multiple transactions. Bitfract is a logical step forward with the ability to switch between one base currency to several others in one go. The starting currencies right now include Bitcoin, Litecoin and Etherium.

While limited in functionality and base digital currencies right now, the service is still in beta and open for free for common user's usage. The utilization currently is marginal with only experienced traders who want to diversify their portfolios, but in time, Shapeshift is sure, the popularity will grow with more people refusing to put all the eggs in one basket, so to speak. The inclusion of Bitfract Labs with monitoring for each currency's historical graphs going back for years will surely help that.

Coinbase to Issue New Statement

As reported, company says it was wrong about SEC approval of acquisitions of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC
18 July 2018   123

Vice President of Communications of Coinbase Rachel Horwitz denied the information that the company received approval from the Securities and Exchange Commission of the United States for a deal to buy brokerage companies. This is reported by Bloomberg.

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.

Rachel Horwitz

Vice President of Communications, Coinbase

On Monday, a spokesman for Coinbase said that the company received permission from the SEC and the Agency for Regulation of Financial Institutions (FINRA) to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

However, despite the refutation from Rachel Horwitz, Coinbase still intends to obtain a license to carry out brokerage activities.