UK company's stock jumps 20% after its blockchain mention

Veltyco has started discussions with blockchain and cryptocurrency providers about potential partnerships
21 December 2017   2517

Veltyco, a marketing company, which is generating marketing solutions for the gaming industry, saw its stock price leap higher today after telling investors it has started discussions with blockchain and cryptocurrency providers about potential partnerships.

Veltyco is planning to offer its customers the use of a crypto wallet that can be used across the platforms of all of Veltyco's partners, allowing customers access to each platform without having to make separate deposits on the individuals platforms as well as enabling Veltyco to cross-sell the different platforms to its customer base.

After the announcement Veltyco's shares, which are listed on London's AIM growth market, jumped 20%. The stock has pulled back a little since then but it is still up around 13%.

Veltyco ChartsVeltyco Charts

Recently, we have reported that Samsung SDS concluded a test on blockchain-powered storage in marine transport, with the expectation that the technology will take the shipping industry to a new level.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   382

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.