TON Developer to Create New Digital Payment Platform

TON Labs together with German Wirecard will create new platform for the digital financial and banking services
18 April 2019   309

The developer of ecosystem solutions for blockchain project Telegram Open Network TON Labs in partnership with the German fintech company Wirecard will develop a new platform for the digital financial and banking services. This is stated in an official press release published on Wednesday, April 17.

Representatives of TON Labs and Wirecard hope that their scalable decentralized solutions will lay the foundation for technological innovations in the TON and Telegram ecosystem.

We are excited to be partnering with TON Labs. Their immense experience in highly scalable technology and decentralized solutions as well as the strong global growth of Telegram messenger will be instrumental for the success of our joint program.
 

Georg von Waldenfels 

Executive Vice President, Group Business Development at Wirecard

Alexander Filatov, Managing Partner at TON Labs named new generation technologies for payments, banking and other financial services, as well as the basic blockchain infrastructure for projects wishing to contribute to the development of TON.

The addition of TON Blockchain to Telegram's growing ecosystem is opening new opportunities for business and technological innovation. We are excited to partner with one of the world's most dynamic and innovative financial technology companies to bring synergetic new generation fintech solutions to the market.
 

Alexander Filatov

Managing Partner, TON Labs

The details of the partnership are not disclosed by the parties at this stage, promising to provide additional information about the solutions being developed in stages.

Wirecard, whose shares are traded on the Frankfurt Stock Exchange, previously acted as the issuer of Visa debit cards for Hong Kong-based cryptocurrency payment platform Crypto.com.

Bitfinex's LEO Token Whitpaper to be Released

Public stage of tokensale may not be conducted if hardcap of $1B won't be reached during closed sale
08 May 2019   269

Bitfinex Cryptocurrency Exchange published the whitepaper LEO token, with which it intends to raise $ 1 billion during the initial exchange offering (IEO).

It is expected that this amount will allow to fill the previously formed deficit of $ 850 million - the site operator will redeem tokens monthly for an amount of 27% of the profits.

Private stage of tokensale ends on May 11. If the intended hardcap won't be reached by this time, Bitfinex may refuse the public part of the campaign.

If fewer than 1 billion USDt tokens are sold by private token sale, the Issuer may thereafter sell remaining tokens at times and in a manner it deems appropriate in its sole discretion, consistent with applicable law. 
 

LEO Whitepaper

The issuer of the LEO token is Unus Sed Leo Limited, the newly registered IEO-iFinex platform.

The document also says that iFinex, which will be launched in June, will actively participate in the development of the second-tier Lightning Network.

iFinex has joined with a number of other companies and individuals to help develop and finalize the support for digital assets on Lightning Network. Ideally, digital assets developed and introduced by iFinex, including the LEO token, will be among the first digital assets launched on the Lighting Network.
 

LEO Whitepaper

In addition, Bitfinex plans to create a “a licensed and regulated security tokens exchange”, launch a derivative product with security at USDT and leverage up to 100x, as well as the Dazaar Big Data Marketplace and Betfinex exchange rates.

Another project will be the modular set of tools, libraries and protocols μFinex, based on the principles of open source. It will be used in both exchange and derivative products.

It worth reminding that in late April, the Attorney General’s Office of New York reported receiving a court order against Bitfinex in connection with the alleged loss of the last $ 850 million and the concealment of this fact from market participants.

Representatives of the trading platform said that we are not talking about permanent loss. These funds are frozen in bank accounts of Panamanian processing Crypto Capital Corp., located in four countries.

To ensure liquidity, Bitfinex was forced to use Tether Limited's funds for a loan and, according to the AG’s Office, has already received $ 750 million from the company's reserves. This was considered by the department as a crime.

On May 7, the New York State Supreme Court upheld the injunction against the Bitfinex Bitcoin Exchange, which does not allow Tether Limited to use its reserves for Exchange lending and other investment activities.