Open Trading Network to Launch Crypto Exchange

The OTN Exchange, connecting various brokers and partners to the platform, is scheduled to be released in April 2018
28 March 2018   715

Open Trading Network is the platform that aims to bring the cross-chain technology and unite all blockchain networks and market participants. Open Trading Network has announced that from April 2018 it will be bringing a trading solution to the crypto-market , providing collateralized and decentralized cross-chain exchange.

Soon after the lauch of OTN wallet supporting 7 cryptocurrencies, OTN Exchange should begin operations  facilitating tokenization of crypto assets via the centralized tokenizer. The OTN Exchange, which is scheduled to be released in April 2018 should connect various brokers and partners to the platform. The exchange will be conveniently accessed via the OTN wallet .

As for the long-range plans of OTN, the full tokenization of crypto assets through a decentralized tokenizer and depository, achieved through the launch of the OTN.x multi-chain technology, will be implemented in September of 2018. Moreover, 13 months after the official launch OTN will deliver the decentralized clearing of all network operations and November of 2018 will bring the implementation of tools for regulators.

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

Average price: $2,59
Marketcap: $9 299 700
24h volume: $60 060

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Bermuda to Issue First ICO License

The first 'official' ICO that will be held at Bermuda is Uulala
19 October 2018   49

Bermuda’s Minister of National Security, Wayne Caines, said that the Uulala fintech company received the first ICO license in the region. It is reported by the Royal Gazette.

In July, the Secretary of the Treasury of the Overseas Territory of Great Britain, David Bert, introduced new regulations for fintech products and services. The bill classifies initial coin offers (ICO) as “limited business activities”.

The draft law also states that before holding a tokensals, companies must provide information about the proposed digital assets, the financing system, the amount to be raised and various technical aspects. In addition, you must obtain consent from the Minister of Finance of the region.

The CEO of Uulala, Oscar Garcia, reported that the process of obtaining a license took four months. Fintech offers a decentralized peer-to-peer network “to attract cash into the digital economy.” During the ICO, Uulala plans to raise $ 50 million.

We are looking at operating from Bermuda. The Bacardi story resonated with us — a group of Cuban Latinos who went to Bermuda and established their headquarters there. We are looking at doing something similar. Bermuda is known as a financial hub and it is very forward-thinking on blockchain and fintech.

Oscar Garcia

CEO, Uulala

The government of Bermuda began to develop bills for the legalization of the ICO in March. Then David Bert said that Bermuda could be an example for other countries in the field of ICO regulation.