Major Japanese exchange Bitflyer has announced the addition of a few new cryptocurrencies to its buying and selling platform across Europe and the US. The company’s users in Europe are now able to buy and sell bitcoin cash (BCH), ethereum classic (ETC), litecoin (LTC), lisk (LSK) and monacoin (MONA), directly on the regulated platform. Meanwhile, American customers now got access to bitcoin cash (BCH), ethereum classic (ETC), and litecoin (LTC). The new cryptos offer Bitflyer customers an alternative to bitcoin core (BTC) and ethereum (ETH), the two former options on the platform.
Bitflyer has added a selected number of new cryptocurrencies for its European and American clients to trade. Bitcoin cash (BCH) is among the few digital assets now available to buy and sell on all licensed platforms operated by the Japanese company.
Andy Bryant, Co-head and COO, Bitflyer Europe, said, “By adding new altcoins, we are expanding Bitflyer’s Buy/Sell offer significantly, giving our customers instant access to some of the largest and most exciting altcoins in the world. Those currencies were previously only available to our Japanese customers, so we’re also consolidating our offer across regions, building a global platform for traders all over the world. By leveraging our experience in Japan, we can offer our European and US customers the same level of speed, simplicity, and transparency as we already do for those trading bitcoin and ethereum”.
Bitflyer Inc. is one of the largest bitcoin exchanges in Japan by trading volume. Since it was launched in 2014, the platform has served more than 2 million users. It was founded by Yuzo Kano, a former Goldman Sachs trader, and counts among its investors major Japanese financial firms such as Mizuho, GMO, SBI, Mitsubishi UFG capital and more. In June 2018 the company temporarily stopped accepting new customers, following a business improvement order from the Japanese Financial Services Agency (FSA) and resumed accepting new accounts again in July 2019.
Bitflyer USA was launched in November 2017 and it located in San Francisco. The service currently operates in 46 states and territories, including New York as it holds the state’s very hard to obtain Bitlicense. The expansion to the American market was soon followed by the creation of Bitflyer Europe, launched in January 2018, with an office is located in Luxembourg. These two fully-owned subsidiaries distinguish the group as being licensed to operate on three different continents.
Bitcoin Smart Contract Platform RSK Acquires Latin America’s Fourth Largest Social Network
IOV Labs, the parent company of Bitcoin smart contract platform RSK, has announced the acquisition of Taringa. As a result, the Hispanic social media network’s 30 million users and 1,000+ active communities will be exposed to dapps, tokenization and P2P trading. Crypto companies acquiring traditional businesses, before introducing tokenized features, is now a growing trend.
Also read: Latin American Payment App Mercado Pago Can Be Topped-Up With Crypto
Taringa is a Spanish language social network that feels like a cross between Reddit and Facebook. It’s particularly popular in Argentina, Spain, Colombia, Chile, Peru and the U.S. Spanish-speaking community, and is the second most popular social network in Argentina after Facebook. It is now the property of IOV Labs, best known for creating RSK. Given that senior RSK team members hail from Argentina, and are looking for ways to increase the utility of their RIF token, the move makes a lot of sense.
RSK’s smart contracting solution is anchored to the the Bitcoin network, creating a secure environment in which to deploy decentralized applications. The company has recently been striving to establish itself as a leading smart contract solution for defi projects. The acquisition of Taringa will serve as a testbed for the sort of applications RSK envisions being created by third parties. There are plans to integrate a P2P token exchange into Taringa, create a decentralized marketplace for applications, and introduce incentivization for content sharing, in a move reminiscent of Steemit.
Announcing the news, Taringa CEO Matías Botbol said: “We are already building our first tool to allow Taringa users to get rewarded by being active participants in their communities. Once this is in place, we envision adding more features … our ultimate goal is to create a new open, decentralized Internet that respects individual’s freedom of speech and privacy.”
IOV Labs CEO Diego Gutierrez Zaldivar said: “This acquisition puts us at the forefront of adoption in distributed ledger technologies. Having access to such a large community will also be invaluable for gathering quick feedback from users of all the RIF-powered tools and protocols we are launching in the near future. We see Taringa as the first step towards massive adoption of both RSK and RIF platforms, and a great step forward for our long term vision of empowering individuals through decentralization.”
The deal seems like a good one for both parties, giving RSK a platform for showcasing its smart contract and blockchain capabilities, while revitalizing a tired Taringa. The social network is known for welcoming crypto assets: in 2015 it paid $76,000 in BTC to its users, allocating a total of 195 bitcoins to content creators.
IOV Labs’ acquisition of Taringa bears obvious parallels with Tron purchasing Bittorrent in a reported $126M deal and tokenizing the file-sharing network. The price IOV Labs paid for Taringa has not been disclosed but will be significantly lower the Bittorrent. Last year, Coinbase paid a similar price as Tron when it purchased Earn.com and integrated cryptocurrency, enabling users to earn modest amounts of crypto for completing tasks. In Japan, meanwhile, messaging app LINE is attempting a similar strategy to Taringa by adding crypto features to its smartphone application. Through a deal with fraud-proof payment processor Simplex (which is also integrated with Bitcoin.com to enable BTC and BCH purchases), LINE users can now buy crypto using credit card in-app.
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