Connect with us


Will Paypolitan Take Over TenX?



Paypolitan is expected to provide TenX users a product that will seamlessly satisfy their needs.

According to industry sources, the Estonian fintech Paypolitan ( is planning a takeover of Singaporean fintech TenX. TenX, once a shooting star in the crypto world, raised USD 80 million through an ICO in 2017 and reached a market cap of over USD 500 million in early 2018. After losing the Visa card supplier Wavecrest, 200 000 TenX clients got their cards blocked overnight. Beginning 2019, the trouble continued, when CEO Julian Hosp stepped down as a CEO after liquidating a huge bundle of TenX tokens.


TenX distributed credit cards issued by Wirecard in 2019, but with the bankruptcy of the latter, the trouble for TenX cardholders started again. Now, the UK Financial Conduct Authority (FCA) has suspended Wirecard’s subsidiary, Wirecard Card Solutions (WCS), which issues Visa crypto debit cards. WCS issued Visa crypto debit cards for several fintech companies including Singapore-based TenX. According to Apple, the TenX Visa Card and Buy Bitcoin feature have been deactivated for all users.

Paypolitan is developing a payment solution based on open banking API’s without any cards. Paypolitan’s CEO Nils Tharandt Ortiz stated “an asset deal of TenX users is possible. We could finally deliver a product that will seamlessly satisfy their needs.”

“Otherwise, we will offer a token swap from TenX (PAY) tokens to Paypolitan’s EPAN token, but with a valuation discount of 50%” added the CEO. 

The management of TenX couldn’t be reached for a statement.

next Cryptocurrency news, FinTech News, News

Please check out latest news, expert comments and industry insights from Coinspeaker’s contributors.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Thodex Cryptocurrency Exchange Allegedly Pulls $2B Exit Scam




It is estimated that the Thodex exchange has shut down with between $2-10 billion of investors’ hard-earned money irretrievable.

Some cryptocurrency investors are in a state of shock after another exchange based in Turkey pulled an exit scam, according to reports, Thodex has vanished out of thin air without notice with the investments of over 391,000 people locked up.

It is estimated that the Thodex exchange has shut down with between $2-10 billion of investors’ hard-earned money irretrievable. For now, the exchange has not made any official announcement about the situation on the ground, but activities surrounding the key players of the platform raise alarm about their intention.

It started when Thodex posted on their Twitter handle about their intention to improve customer satisfaction by the introduction of a Peer-to-Peer cryptocurrency investment service from outside. Thodex in another statement notified customers that they would suspend their trading activities for 4 to 5 days. However, the CEO of Thodex Faruk Fatih Ozer has deleted his social media account and disappeared without a trace.

It is suspected that the whole scheme was planned as the company introduced a program from March 15 to April 15 to attract more customers by freely giving out 150 Doge to new users who signed up within the period.

Oguz Evren Kilic, the lawyer who represents the unspecified number of customers has confirmed to have filed a legal complaint against the exchange, and the prosecutor of Istanbul has launched an investigation into the alleged exit scam.

Kilic alleged that the CEO of the Thodex exchange has fled from Turkey through a commercial flight on Wednesday. Other reports speculate that Fatih has fled to Albania. It is important to know that the cryptocurrency market has long been associated with crime.

Many believe that the decentralized asset acts as a tool for money laundering with the so-called exchanges taking advantage of its boom to scam enthusiasts. For this reason, the Turkish officials have called for a fast regulation of the market especially in this time where global crime associated with the industry is rising.

According to the senior economic advisor to President Recep Tayyip Erdogan, Cemil Ertem, a cryptocurrency-related pyramid scheme has been rampant in the area, hence the need for the government to put measures in place.

Ertem stated that beyond doubt, the country will take action against the recent industry occurrence by putting regulations in place based on the level of its economy. This being said, they will do this by monitoring global development.

Not only Thodex, but also many cryptocurrency exchanges have pulled an exit scam since Bitcoin started going mainstream. The ones that had no prior motive to shutdown operations were forced to do so after losing millions of dollars to hackers who got access to their administrative panel like MT.Gox.

next Altcoin News, Bitcoin News, Cryptocurrency news, News

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

Source link

Continue Reading


Huobi Asset Management Lauches BTC, ETH and Crypro Mining Funds




One of the funds launched by Huobi Asset Management is a private equity fund that will invest solely in cryptocurrency mining operations.

In a move that is geared to encourage institutional investors to adopt crypto, Huobi Asset Management, a subsidiary of Huobi Technology, has recently announced four cryptocurrency funds for institutional investors.

Huobi Asset Management is part of the publicly traded Huobi Technology which is listed on the Hong Kong stock exchange. With this initiative, it is expected that institutional investors will take advantage of this opportunity and the lenient laws of Singapore and Hong Kong to invest more in digital assets.

While Huobi Asset Management is independent of its parent company, it has its backing which many believe positions it to achieve its goal of becoming one of the reputable names when it comes to managing digital assets for institutional investors.

Of the four investment funds created, two are passive funds for Ethereum and Bitcoin. This is contained in a statement released by the company on Thursday through Technode. Another fund is for actively investing in several cryptocurrencies which forms one portfolio.

The fourth fund launched by Huobi Asset Management is a private equity fund that will invest solely in cryptocurrency mining operations.

Lily Zhang, CFO of Huobi Tech, in a recent interview says that “the bitcoin and ethereum tracker funds are fully compliant under the financial regulations in Hong Kong and give traditional investors a more liquid and compliant channel to directly invest in cryptocurrencies.” However, the top executive refused to reveal the management fees attached to the funds.

To restate the goal of the company which is to lure institutional investors, it has placed limitations on those who can invest in the funds. According to the company statement, only accredited professional investors like asset managers, high net worth individuals, and family offices can invest.

The exclusivity has not in any way limit the investment as the four funds have already raised $50 million from investors pledges, just half of the company target of $100 million by the third quarter of 2021.

Huobi Tech which is the parent company for Huobi Asset Management is owned by Huobi Global which operates the popular cryptocurrency exchange. It is the second-largest cryptocurrency exchange in the world, boasting a transaction volume of around $12 billion within the past 24 hours before this writing.

Back in March, The Hong Kong Securities and Futures Commission gave Huobi Asset management the license to manage digital assser portfolio, making. It one of the first to hold the license. Other companies are also seeking license in Hong Kong.

next Altcoin News, Bitcoin News, Blockchain News, Cryptocurrency news, Ethereum News

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

Source link

Continue Reading


Introduction to Quannabu | Coinspeaker




Quannabu will use blockchain to minimize production and operation costs by eliminating unnecessary intermediaries within the supply chain and promoting the quality of the production itself.

Quannabu attempts to solve a lot of issues when it comes to marijuana, which has been the topic of many controversial online discussions; however, one factor remains, and that is the fact that it is one of the safest plants out there with healing properties that have been known for centuries, and only recently were proven through scientific research. This resulted in the demand for CBD within the health and wellness industry to truly reach an all-time record, sky-rocketing to the top.

As a result of this, global acceptance has also gotten higher, especially throughout the latest government approvals, which play a major role that can translate well to market growth. It can even boost the production of CBD-infused products, and through Quannabu, the industry will end up becoming modernized. This will be done through the adoption of blockchain technology that can add an additional level of trust as well as transparency when it comes to the current ecosystem, and operate frictionless payment solutions for all industry players, as these products end up moving along the supply chain.

When it comes to Cannabidiol or CBD, it is essentially this chemical compound from the Cannabis Sativa plant which is known as marijuana or hemp. It is valued at USD 2.8 billion in 2020, with revenues expected to reach $13.4 billion by 2028.

When it comes to an industry such as this one, the security and the trust, and transparency that blockchain can offer can be a crucial part of ensuring that the market will continue growing.

In other words, Quannabu can offer the following advantages:

  • Source Information Tracing
  • Payment Solutions
  • Supply Chain Monitoring
  • Certified Test Results
  • Industry Growth

Quannabu intends to address some of the many challenges that the CBG growth industry faces on a regular basis, and specifically help with the development and application of four integrated platforms alongside services.

These are:

  • The Quannabu Trust – blockchain technology will be used to create a transparent and trustworthy CBD supply chain and open access to certified supply chain data to increase visibility and empower consumers, retailers, and manufacturers.
  • The Quannabu Labs – custom-building a cutting-edge CBD manufacturing and testing laboratory that is capable of offering unrivaled assurances and certifications.
  • The Quannabu Pay – This is a frictionless blockchain payment platform where businesses and consumers will quickly and easily be able to transfer funds that are verified. This is one of the best ways to solve the current banking and payment issues surrounding the market growth.
  • The Quannabu Grow – This is intended to help satisfy the rapid growth as well as demand for pharmaceutical-grade hemp, through the establishment of its own hemp farms. Through the certified testing equipment, Quannabu has the ability to consistently and accurately test the crops.

The true value of blockchain technologies comes in that they can enhance trust when it comes to record-keeping and financial transactions. This is a shared, immutable ledger that facilitates the process of recording transactions as well as tracking assets throughout a decentralized network.

Anything of value can be tracked, as well as traded on a blockchain network, and this, in turn, will result in the reduction of risks as well as cutting costs for everyone involved.

You also have the Quannabu ecosystem, where the entire supply chain operation from harvesting to manufacturing and even testing and storing, will be integrated, and all of the members will use the platform to promote daily activities across the supply chain in a quick and efficient way. Quannabu will also use blockchain to minimize production and operation costs by eliminating unnecessary intermediaries within the supply chain and promoting the quality of the production itself.

Join our community and get more information about QuannabuLab.

next Blockchain News, News

Please check out latest news, expert comments and industry insights from Coinspeaker’s contributors.

Source link

Continue Reading