New Fiat-To-Crypto Exchange In Singapore Launching Next Week

It has been reported that cryptocurrency exchange Binance will launch its new fiat-to-crypto exchange in Singapore Next Week.

This was revealed by Wei Zhou, the Chief Finance Officer which stated that their company is launching a simple buy and sell Singaporean fiat on-ramp exchange where users will be able to buy and sell Bitcoins with Singaporean Dollars.

Zhou also said that for the time being Binance Singapore will just support Bitcoin and gradually add support to other cryptocurrencies later on.

The opening of Binance Singapore seems to be in line with Binance’s strategy of increasing the number of fiat-to-crypto gateways which includes partnering with Simplex which enable users to buy cryptocurrencies using credit or debit card.

In other places Binance has started Binance Lite in Australia which enabled 1,300 newsagents to sell Bitcoins to its customers.

Uber CEO Hoping For A Fat Paycheck After IPO

According to news reports online, Dara Khosrowshahi the CEO at Uber could be a hundred million richer of his company’s valuation reaches $120 billion.

This was revealed in the filing of Uber’s IPO which states that Khosrowshahi will be granted 1.75 million Stock options as a part of an equity incentive plan that will vest over the next four years.

In addition to this he will be granted 185,735 shares that vest immediately if these two conditions are met; first if the capitalization of the company remains at $120 billion for 90 days or if Uber is acquired for at least $120 billion.

However, this equity incentive plans looks more of a pipe dream with the current condition of the company that might not achieve profitability because of an anticipated substantial increase in operating expenses.

Slowing growth is another factor that could make the $120 billion valuation difficult to achieve.

US-Based Crypto Exchange Coinbase Expands To 11 Countries

It has been revealed that American crypto currency exchange Coinbase is expanding its international operations by offering crypto-to-crypto exchanges in new territories.

This was revealed on a recent blog-post that was posted last April 17, 2019.

Coinbase and Coinbase Pro introduced crypto-to-crypto conversion and trading to 11 more countries in Latin America and Southeast Asia.

These countries include: Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand.

Prospective users in these countries will be able to store, trade, send and receive cryptocurrencies.

This announcement comes after several new developments in Coinbase which includes the support For EOS, Augur (REP) and Maker (MKR) as well as expanding into cross-border payments.

New Unregulated Crypto Derivative Exchanges Dominating Regulated Ones

It has been revealed that the trading volume on unregulated Bitcoin (BTC) derivatives exchanges is growing rapidly and outpacing regulated-institutional counterparts.

This was revealed in a report by a crypto market data provider CryptoCompare last March.

The reports shows that newer derivatives exchanges like OKEx and BitFlyer are averaging a daily derivative trading volume worth over a billion dollars during March.

Both the new derivative exchanges overshadow the performance of older derivative stalwart BitMEX with OKEx and BitFlyer posting daily derivative trading volume of $1.5 billlion and $1.14 billion respectively compared to BitMEX wth only $645 million.

Data also shows that the trading volumes of unregulated derivatives trading exchanges like OKEx, BitFlyer and BItMEX dominates the crypto derivatives space.

The largest of all the regulated derivatives exchange, CME, post only $70.5 million on a daily basis which is followed by CBTC and CBOE which falls below the $15 million volume of trading.

Cardano’s Shelly Specification Released Ahead of IOHK Summit

It has been reported that the much awaited specification of Cardano’s upgrade codenamed Shelley has finally been revealed.

This much anticipated upgrade is aimed to bring full decentralization to the platform according to IOHK, the company behind Shelly.

The announcement reveals key specification that deals with everything from the design for the delegation and incentive mechanism to ledger rules.

IOHK announced the specification on its website on April 16, 2019 with Charles Hoskinson, CEO of IOHK announcing the milestone on his twitter just ahead of IOHK Summit in Miami.

Shelly will bring decentralization to Cardano (ADA) by handing control of the ledger to the community via stake pools.

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