Singapore Exchange Won $44 Million Bitcoin Dispute

The UK based market maker B2C2 attempted to reclaim 3,092 bitcoin from the Quoine cryptocurrency exchange
29 December 2017   604

The Singapore International Commercial Court ruled today to dismiss a lawsuit where the UK based market maker B2C2 attempted to reclaim 3,092 bitcoin from the Quoine cryptocurrency exchange.

According to the court document, the International Judge Simon Thorley ruled in favor of Quoine as he agreed that B2C2 knowingly took advantage of a problem on the platform while Quoine’s term of agreement preserves its right to reverse such trades.

We have reported that B2C2 managed to capture what Quoine called «a technical glitch» in April and sold 309 ether for 3,092 bitcoin, creating a profit of $3.7 million. Yet, bitcoin, priced at $1,226 at the time, was worth around 25 times more than the ether token.

Quoine soon reversed the trade without informing B2C2 citing that the market maker’s conduct violated the fairness of the market, which subsequently led to B2C2’s lawsuit in trying to reclaim the 3,092 bitcoin.

iPayment to cooperate with Aliant Payment Systems

iPayment, Inc., a payment provider for small and medium-sized businesses (SMBs), today announced a partnership with Aliant Payment Systems
23 May 2018   71

This new partnership will allow iPayment to facilitate digital currency acceptance for merchants and their channel partners. 

Our goal at Aliant is to be one of the first adopters and facilitators of cryptocurrency in the traditional payments space. Partnering with an established, quality organization like iPayment helps us achieve that goal. We are looking forward to mutually moving into a new territory of block chain and cryptocurrency and providing our shared clients with an alternative form of accepting and processing secure, cost-effective payment transactions.
Eric Brown
Founder, CEO, Aliant Payment Systems, Inc.

Aliant Payment’s Crypto Processing Gateway provides merchants with the possibility  to accept cryptocurrencies like Bitcoin or Litecoin, in both digital and card-present environments.

The payments landscape is always changing. iPayment is continually pursuing partnerships with organizations that not only anticipate these changes, but develop innovative solutions to address them – and that is exactly what Aliant has done. We’re looking forward to cultivating this partnership and introducing crypto payment acceptance to our channel partners and adding it to our overall product offering.
Denise Tahali
Senior Vice President, Partner Sales, iPayment, Inc. 

From this new product innovation, iPayment is aimed on small business enablement and delivering efficient services and resolves for business developments. Aliant also lets e-commerce and mobile vendors worldwide to adopt different payment forms, and it provides a complete line of credit card machines, ATMs and payment technology. 

With the help of this collaboration, iPayment can now supply Aliant’s Crypto Processing Gateway to partners and merchants who wish to accept these forms of digital payments.