Swedish Nordic Growth Market to Launch Crypto ETP

Now investors from the EU, which can trade on the Nordic Growth Market, Swedish unit of Boerse Stuttgart can work with LTC and XRP ETP
04 April 2019   283

Trading platform Nordic Growth Market, which is the Swedish division of the second largest German stock exchange Börse Stuttgart Group, began trading ETP based on digital currencies Ripple and Litecoin. Four ETPs (two for XRP and LTC each) are issued by XBT Provider.

This is an important moment for traditional investors and the crypto community alike as LTC and XRP now, effectively, have an ISIN number. This was not an easy feat and a lot of credit is due to our MD of XBT Provider, Laurent Kssis and his counterparts at NGM for their expertise in navigating the complexities of the traditional system and bringing these new digital asset products to market for investors.

Ryan Radloff

CEO, CoinShares, parent to XBT Provider

Now investors from the EU, which can trade on the Nordic Growth Market, can use their brokerage (Avanza, Nordnet), trading or even preferential accounts (ISK in Sweden or SIPP in the UK) to passively work with these digital assets.

Note that in 2015, XBT Provider launched the first bitcoin-based security on the Nasdaq Stockholm Stock Exchange. The asset was named Bitcoin Tracker One (BTO).

At the end of 2017, support for the first Ethereum index bonds (ETN) was added to Nasdaq Stockholm.

In the summer of 2018, XBT Provider made a listing of Bitcoin-ETN, the value of which is displayed in US dollars, since the price of the BTO was previously quoted only in euroa and Swedish krona.

At the end of January 2019, Börse Stuttgart launched its own application for trading cryptocurrency called Bison. Bidding through the application is available seven days a week from 06:00 to 24:00 local time.

It is important to emphasize that stock products based on cryptocurrency are traded not only in Sweden. The largest Swiss stock exchange, SIX Exchange, already has Bitcoin, Ethereum and Ripple based ETPs. The product developer is Amun AG.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.