Global cryptocurrency exchange OKEx is moving to cheaper and faster Bitcoin (BTC) transactions with its upcoming Lightning Network integration. According to a Tuesday announcement, OKEx’s Bitcoin Lightning Network will be integrated “in the coming quarter,” making OKEx a participant node in the Lightning Network. The integration will allow OKEx users to select the Lightning Network option when depositing and withdrawing BTC, intending to decrease transaction fees and times. The Lightning Network is a second-layer scaling solution and payment protocol based on top of the Bitcoin blockchain. The protocol was suggested by Joseph Poon and Thaddeus Dryja in 2015 in an …
A DeFi service and tech provider says its “Cloud SaaS” and white-label crypto trading platform solution has served more than 130 partners around the world — onboarding more than 5 million retail traders and taking custody of assets worth $6 billion as a result. Bluehelix says it provides crypto-to-crypto trading, wealth management, over-the-counter services, as well as options contracts. Currently, it has also launched perpetual contracts to licensed brokers and exchanges with both Tether (USDT) Margin Swap and Coin Margin Swap — either on a Software-as-a-Service basis or via a white-label solution. Bluehelix states its SaaS cloud solution enables partners …
OKCoin, one of the world’s oldest cryptocurrency exchanges, is continuing to expand its fiat-to-crypto onramps by adding support of the Singapore dollar (SGD). Starting March 12, OKCoin users can deposit and withdraw Singapore’s official fiat currency — the Singapore dollar — for major cryptocurrencies like Bitcoin (BTC) and Ether (ETH). As the Singapore dollar is also officially accepted in its neighbor country Brunei, individuals and institutions in both jurisdictions are able to start trading their Singapore dollars for crypto, OKCoin announced to Cointelegraph. The Singapore dollar is the third fiat currency supported by OKCoin after the United States dollar and …
Hong Kong, one of the most significant and leading financial centers in the world, has played a large role in the development of cryptocurrencies. For instance, the Chinese territory has birthed some of the most established and successful crypto companies to date including the crypto derivatives exchange FTX, along with the digital asset platform Crypto.com. Yet, as trillions of dollars are traded regularly through crypto exchanges founded in Hong Kong, the “Vertical City” also contains an abundance of physical over-the-counter crypto shops as well. Henri Arslanian, PwC crypto lead and former chairman of the Fintech Association of Hong Kong, told …
Legislation regulating the operations of cryptocurrency firms in Singapore comes into effect today, Jan. 28. The new Payment Services Act will regulate cryptocurrency payments and trading enterprises under some aspects of the regulatory regime that currently governs traditional payment services and require them to hold a license. Crypto payment services must also comply with the Financial Advisers Act, Insurance Act, Securities and Futures Act and the Trust Companies Act. The new rules place crypto services under the oversight of the Monetary Authority of Singapore. The regulator announced in a press release published earlier today that the new framework is expected …