ViaBTC will launch exchange outside China

According to the head of Chinese cryptocurrency exchange, the third of company's customers are outside of China
25 September 2017   574

The administration of the Chinese exchange ViaBTC announced plans to open a new crypto exchange, this time outside the country. It is reported by South China Morning Post.

The exchange was launched in July 2017. Trade on it was focused mainly on users from China, but foreign users could also register by providing the necessary identification documents.

However, in September, as a result of restrictive measures on the part of the Chinese government, ViaBTC decided to wind down this line of activity, officially launching the process earlier this week. Nevertheless, the company does not intend to completely abandon the maintenance of the trading platform.

A third of our customers are outside of China, and I believe they will continue to use the ViaBTC platform.

Haypo Yang
Head, ViaBTC

According to him, the exact time frame for launching the exchange outside of China has not yet been determined. He also stressed that the company has the necessary funds to meet all requests for withdrawal of funds, which must be completed before Monday, September 25.

BlackRock to Consider Bitcoin Futures

World largest asset management firm created a workgroup to study the prospects of crypto-based futures
16 July 2018   78

Investment company BlackRock has formed a working group that should find out what benefits the world's largest asset manager can get from entering the cryptocurrency sector, despite the fact that previously its CEO had heavily criticized bitcoin. This is reported by Financial News.

The investment giant, whose assets amount to $ 6.3 trillion, created a team that included experts from various business areas. They must collect information about the cryptocurrencies, the underlying infrastructure and technology of the blockchain.

The working group, which includes investment strategist Terry Simpson, should find out whether BlackRock should invest in bitcoin futures.

Sources also reported that BlackRock is studying the experience of its competitors in this area and the potential impact of their actions on the company's business. The working group will report on the results of its research to senior management.

A spokeswoman for BlackRock reported that the company has been considering blockchain technology for several years, but declined to comment on the cryptocurrency.

The creation of a working group may mark a turning point in relations between BlackRock and cryptocurrencies. Last year, its head, Larry Fink, said that bitcoin is an extremely speculative tool, and the only reason for its popularity is its anonymity. "This is an instrument that is used for money laundering," he said bluntly.

Fink gave his comments even before the appearance of crypto-currency futures. At that time, he saw no opportunity for his company to enter this market.