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BitGo Introduces Institutional Crypto Lending Service



The world of crypto has developed at a breakneck pace over the past few years, and in a new development, cryptocurrency firm BitGo has announced the launch of its own crypto lending service. In recent times, the crypto lending industry has grown at a decent pace, but there is still room for a lot of growth.

Key Expansion

The announcement from BitGo is an important one and could usher in a new era in this niche space in the crypto sphere. The company claims to handles 20% of all transactions that are conducted through Bitcoin, and the service is going to be launched today.

The company conducted a beta test spanning over a period of several months, and it seems, it is now good to go. BitGo is aiming to create a crypto lending service that is similar to services that are available in traditional markets, according to the head of financial services at BitGo, Nick Carmi. The lending service is going to offer loans that are fully collateralized, and in addition to that, there is going to be detailed reporting for each client.

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Carmi also stated that the business that has been created by the company is not going to be a run-of-the-mill business interested in small margins and high volumes. He added, “We are building deep relationships with our clients to drive value for them and to create a long term, sustainable business.”

However, the most important thing to note about this product is the fact that it is only going to be open to institutional traders, and the company has no plans to make it available to non-institutional traders. Carmi is a veteran of Wall Street and stated that a service of this kind is a first for BitGo as well.

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Crypterium Makes It Easy to Invest in Digital Assets through Daily AI-Powered Price Predictions




The predictions are seamlessly integrated with the Crypterium wallet that is easily accessible by login into the wallet and heading to the market section.

Crypterium, a leading blockchain startup, is making it easy for individuals to invest in crypto assets through its daily AI-powered price predictions. The new feature adds to a plethora of features already on offer by the company, including a digital wallet where users can send, buy, exchange, cash out, pay and earn effortlessly through a high yield savings account and a card that allows users to spend crypto and fiat instantly with ease.

The new feature is believed to offer over 96% accuracy. It covers over 150 digital assets daily with a compressive report on why a given asset is likely to move in the predicted direction. All one needs to access the feature is to sign up on the digital wallet and select a plan. The predictions come in three plans; the free plan, where you can access only a few assets such as ETH, OMG, LINK, MKR, and ZRX. Then there is the daily plan where you get to access predictions for all the 150 digital assets for only $2.99, or you can opt to pay $60 per month and get a 30% discount.

The daily price predictions are a lifesaver, especially for new traders who may feel like they are missing out on the opportunities the crypto market has to offer. They are also crucial for experienced traders as they help save them time, which could have been spent conducting other exhaustive research before placing trades.

Powered by State-of-the-Art AI Technology

The new feature wouldn’t be so accurate if it weren’t powered by state-of-the-art AI technology through a proprietary self-learning algorithm capable of compiling and processing over 200 TB of market data.

The predictions are seamlessly integrated with the Crypterium wallet that is easily accessible by login into the wallet and heading to the market section. Once there, you will find a list of all coins present according to the plan you choose, and by clicking on a given asset, you will see the prediction rate for the past one month, a sell or buy signal with a percentage signal strength, and results of the previous day prediction.

During the new feature launch, CEO Steven Parker was enthused by what he termed as one of his “favorite” features since the startup began operating three years ago. He went on to add:

“Over the years, we’ve seen many investors rush into bad investment decisions. Not because of the assets they’ve chosen, but mostly because of the timing. This feature makes it easy for everyone to understand whether it’s a good time to enter a position or not. At the end of the day, this is a very powerful tool to increase chances of winning trades and limit unnecessary exposure.”

The addition of the new feature couldn’t be more timely given that many individuals tend to enter the crypto market, especially when it’s on a bull run. High speculation pushes asset prices up, and due to FOMO, many inexperienced people jump in headfirst only to get burnt. However, this time around, hopefully, this won’t be the case for those that opt to use the price perdition feature that Crypterium believes leads a new era of investing.

According to the startup, the new feature’s sole purpose is to offer users a simple yet reliable way to identify attractive investment opportunities within an ever-evolving digital asset market. This feature can be accessed on a highly responsive interface where predictions are delivered in an easy way to understand, even for people with little knowledge about cryptocurrencies.

The price prediction feature is the latest addition to the Crypterium wallet, which serves as a one stop shop that simplifies crypto asset management.

Features on Crypterium Wallet

Some of the things you can do using the wallet include sending money instantly for free no matter where the other party is located, and all you need is just a phone number. Then you can buy your favorite crypto asset on the go with just a debit/credit card. The tokens you purchase can be exchanged easily on the same platform, and it’s possible to cash out the digital assets to your payment card in a few minutes. Additionally, you can pay using the card and get to earn by opening a savings account.

Over the past three years, Crypterium has experienced massive growth, and currently, its services are entrusted by more than 350,000 users in more than 180 countries. The company isn’t satisfied yet and plans to grow to over 5 million users in the next few years by offering products that solve people’s everyday problems. An excellent example of this is the free to access Crypterium Card Visa enables its users to make instant payments to over 42 million retailers worldwide.

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Coinbase Unveils ‘Asset Hub’ for Digital Asset Issuers to List New Cryptos




Coinbase said that the Digital Asset Hub will streamline the process of onboarding and listing new cryptocurrencies. However, it will ensure robust evaluation through Coinbase’s legal, compliance, and security requirements.

One of the world’s largest cryptocurrency exchanges Coinbase has recently announced a new platform dubbed ‘Asset Hub’ on Thursday, January 14. This new platform will allow token issuers to list their new cryptocurrencies on Coinbase, easily and efficiently.

Coinbase said that the Asset Hub platform opens up the doors for crypto token issuers. It will also remove all the barriers to entry making the process hassle-free. In the official blog post, Coinbase CTO Surojit Chatterjee stated:

“Asset Hub will streamline the asset listing process today, and expand the number of services offered to digital asset issuers in the months to come. The goal is a single interface at Coinbase for digital asset issuers to manage the full lifecycle of their assets”.

However, Coinbase has ensured that it will undergo a robust evaluation before getting any new cryptocurrency on its platform. Every new asset has to go through Coinbase’s legal, compliance, and security requirements.

“Issuers may be subject to regulatory approval in some jurisdictions and we, therefore, cannot guarantee whether or when an asset will be approved,” said the exchange. Currently, the Coinbase trading platform supports 40 different crypto assets. On the other hand, its custodial service Coinbase Custody supports over 90 different crypto assets.

May in the crypto industry Coinbase as the gold standard for cryptocurrency listing. It is one of the most popular platforms with over $320 billion in total volume traded.

Expanding Its Reach in the Crypto Economy

Over the years, Coinbase has been building products and services that cater to different participants within the crypto economy. Before the Asset Hub, Coinbase already released Rosetta, its open-source technical framework for asset listings. Speaking to CoinDesk, Coinbase Senior Product Manager John Zettler said:

“The unifying theme between Rosetta and Asset Hub is that these products both support issuers. We appreciate that the growth of the cryptoeconomy depends on the success of digital asset issuers, and we are committed to supporting issuers every way we can.”

Having a strong foothold in the market, Coinbase is looking to go public this year in 2021. Last month, the crypto trading platform filed for an IPO with the US SEC. The company’s estimated valuations stand around $28 billion. Coinbase is reportedly working with Wall Street banking giant Goldman Sachs for the IPO.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Benchmark Protocol to Revolutionize DeFi Space




Built on the Ethereum Blockchain, the Benchmark Protocol aims to change the weak points of the DeFi space and connect traditional finance with the cryptocurrency market.

The Inventor of the Benchmark DeFi project, a top Citibank executive, defines it as a “Supply Elastic Collateral and Hedging Device”. Accordingly, the protocol is designed to run on the VIX Volatility Index, with its token called MARK, pegged to the Special Drawing Rights (SDR).

Introduced as a Fair Launch, the Benchmark launchpad attracted several investors in the first weeks with word of mouth instead of Initial Exchange Offerings or Initial Coin Offerings, which usually fail in the long run. The Benchmark protocol reached a total of $34 million in just the first three weeks. After successfully culminating the Fair Launch, Benchmark transitioned their rewards structure from the Launchpad to The Press, where Liquidity Providers can earn 60-100% APY.

Connecting Traditional Finance to Crypto Markets

One essential point of the Benchmark Protocol is reducing inflation inherent in traditional fiats and expanding the exposure of the DeFi space to global markets. To achieve this, the MARK token supply relies on the deviations from the target Peg and the VIX data.

Unlike other stable-coins which are only based around the US dollar, Volatility Index data and the SDR can bring value to the DeFi space. The VIX provides investors with a better window of opportunities to trade the future direction of the expected volatility of the S&P 500 Index. Likewise, by relying on the SDR, the inflation adjustment doesn’t adhere to just one currency, but five, providing more exposure, stability and consistency.

The Special Drawing Rights is a unit of account created by the International Monetary Fund (IMF) and it’s a composite of several fiats: the US Dollar, the Pound Sterling, the Japanese Yen, and the Yuan. The IMF uses the SDR as an international reserve currency.

As a result, MARK becomes the first adaptive token that can potentially amplify the functionalities of the DeFi space. Being an ERC-20 token, the MARK provides inherent utility value. Most important, supply rebalances are quick and predictive, reacting to the Volatility Index. Benchmark Protocol executed its first supply adjustment on December 28th, 2020. Rebalances occur on New York Stock Exchange trading days within a 5-hour window after the settlement of CBOE VIX contracts.

Elastos Community Exploring the Benchmark Protocol

The Benchmark Protocol is offering opportunities for several investors and financial institutions since its launchpad. Elastos, a platform for Decentralized Applications – dApps – is currently exploring Benchmark protocol to enhance payment methods and other areas in the DeFi ecosystem.

According to the report, the Elastos community believes that adaptive tokens could enhance peer-to-peer – P2P – finance and payment methods. The firm is looking to address several problems within the DeFi ecosystem, like the disadvantages of collateral-backed stable-coins and the need for cross-chain adaptive supply tokens.

Additional strategic partnerships include collaboration within the bZx ecosystem, plans on utilizing RenVM to ensure the protocol can excel in a cross-chain environment, and the start of integration into the Solana network.

Problems with Collateral-back Stablecoins

The stablecoin scheme is highly centralized. The need for third parties, such as suppliers, custodians, and the project shows this centralization. Besides, audit processes are expensive and time-consuming, due to how intricate the operating system can be.

Stablecoins also carry the risk of liquidations if the collateralized asset loses value, a fundamental problem with over-collateralized stablecoins.

There’s always the risk of governments launching their stablecoins, hence, making worthless the original concepts of privacy and the P2P economy. One example is China’s first digital sovereign currency: the Digital Currency Electronic Payment (DCEP), with ATMs all over the country.

Regulations from governments are another issue, as standard stable-coins face more pressure from the US government every day. Such is the case with Tether and the Stable Act – a bill that seeks banking licenses for these currencies.

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I’m a finance journalist and copywriter with a keen interest in the fintech field. I have keen on blockchain technology and cryptocurrency and I believe it can reshape the way we see money and financial freedom.

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