, the leading crypto exchange in the United States, is likely to come with something new again. Ran Neuner, the most popular figure in the space of crypto-related news and the host of the show ‘CryptoTrader’ on CNBC, has claimed that the exchange is going to launch an Initial Public Offering (IPO).
CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive.
— Ran NeuNer (@cryptomanran)
The original source of the news is unknown, but the announcement is great, as Coinbase is the biggest and the most popular name when it comes to the world of cryptocurrencies. The company is believed to be worth about $8 billion USD. According to the statistics revealed by Neuner, Coinbase now has 25 Million registered members, with 600,000 people trading every day on their platform.
The California-based crypto exchange had $90 million in revenue last quarter, with expectations to earn $450 million in the last quarter of 2018. 80% of Coinbase’s revenue comes from the consumer services, 15% comes via Coinbase’s rapidly expanding institutional arm, and the remaining 5% iss sourced from additional services.
Coinbase has gained a reputation of a trustworthy exchange. The exchange has reached some important milestones, that’s why IPO is possible and even necessary now. Neuner promised to reveal further details of the Coinbase’s IPO. However, some investors are quite sceptical of Neuner’s claim, among them is Larry Cermak, the president of Branick Consulting, Inc.
The fact that this tweet only got 35 retweets is a testament of people finally waking up to being a fraud. If he had any credibility whatsoever, leaking Coinbase's financials and intention to IPO would go viral. Giving bad financial advice eventually catches up bro
— Larry Cermak (@lawmaster)
Coinbase has not commented on IPO yet, but previous statements made by Coinbase President Asiff Hirji give some hints on possible taking the company public. In late 2017, he said:
“It is certainly in the interest of our investors…and the most obvious path of Coinbase is to go public at some point, but there’s a lot for us to do between now and then, whenever that date is.”
If the information is true, Coinbase’s IPO will be launched in the US. The IPO would have a significant impact on the cryptocurrency markets. Bringing a lot of mainstream attention to the exchange, the launch of IPO would also help the firm raise large amounts of funds for future projects.
Steps Towards Creating an Open Financial System for the World
Coinbase is on the news all the time. The exchange makes a lot of efforts to achieve its goal of creating an open financial system for the world. And for the time being, these efforts are successful.
This autumn, the company opened some new offices, implemented some changes to its listing policy and introduced new products. Recently, Coinbase a new automated security tool which is now available to the public through an open source code. By utilizing a combination of human code reviews and automated scans, the Salus secutity tool is able to run and manage different security scanners automatically.
On October 23, Coinbase Custody Trust Company LLC was by New York State Department of Financial Services (NYDFS) to operate as “a limited purpose trust company”, which is another milestone for the exchange. Now, as a qualified custodian, Coinbase will function similar to a bank.
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Despite the fact that the period of record crypto heights seems to be in the past, more and more people are engaged into this industry which means that the demand for smart solutions is still growing. Bearing this idea in mind crypto payment platform has prepared something to offer.
PiixPay Platform
PiixPay.com is one of the leading crypto payment platforms. It was established in 2014 and since that time it has been continuously expanding its services, offerings and geography. Now it operates in of the world.
The platform pays a lot of attention to the regulatory issues, trying to enhance the system in accordance with existing laws and regulations with a view to stay absolutely compliant and not to lose in the constantly growing competition. Moreover, the team is always trying to stay visible and open for communication with clients having an aim to get the freshest feedback which is a very important component for improvement.
The system itself functions fully automatically. When payment details are submitted by a client and a desired cryptocurrency is chosen, a dedicated crypto currency address and a sum to be paid are displayed practically immediately.
When crypto is received by the platform, a bank file is generated automatically. After that the transaction should be confirmed by the platform’s bank. As soon as it is done and confirmation is received, the payment goes to beneficiary’s bank.
That’s a standard scheme of the platform’s work and now it is announcing a new feature called Instafill.
Benefits of Instafill
Instafill has been under development and throughout testing for a lot of months but now the platform is ready to release the first part of its crypto-to-bank feature.
This new feature will give users an opportunity to bind a crypto currency wallet address with a bank account directly. It means that this service will connect a dedicated crypto wallet address to a client’s bank account address, and as a result a user won’t waste time on entering the bank account details manually each time as the system will remember it and funds will be sent to this account automatically.
A desired bank account can be linked with several crypto addresses. At the moment, the system supports,, Cash and (nevertheless, this range may be expanded in the future).
All crypto assets sent to the chosen bank account address will be exchanged for euros and the transaction will be automatically directed to the bank account indicated earlier. The service will be available for clients from 102 countries.
Use-Cases
This solution can be widely applicable. For example, it is expected that it will be actively used by miners. Nevertheless, it’s also worth mentioning that it can bring a lot of benefits for those who just need to do simple everyday payments including sending money to their relatives and friends.
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USDD – The world’s first dollar-backed and interest-bearing stable coin, with interest payments every 24 hours, will be officially released on October 31st by 55 Global Markets. The USDD value is 100% supported by a US dollar reserve, funds are held in trust for the benefit of tokenholders by as trustee, a third-party trust company that has relationships with major US banks. , a third-party independent accounting firm will conduct monthly examinations of management’s Trust Holdings Report in accordance with Statements on Standards for Attestation Engagements established by the American Institute of Certified Public Accountants. USDD supports highly efficient purchases and redemptions based on the 55 OTC market and DaoCoin infrastructure.
Investors are eager to find a transparent and efficient stable coin, as they expect not only to reduce the risk of market volatility, but also to obtain interest on the hedged investments and maximize the use of funds. Based on this demand, 55 Global Markets has used the DaoCoin (www.daocoin.money) infrastructure to issue a transparent and efficient interest-bearing stable coin, the USDD.
USDD has the following characteristics:
Automatic payment of interest every 24 hours
Once, every 24 hours, USDD interest is calculated and sent to the 55 wallet.
100% transparency with compliance supervision
The USDD value is 100% supported by a US dollar reserve. The funds are held in trust for the benefit of tokenholders by PrimeTrust (www.primetrust.com) as trustee, a third-party trust company that has relationships with major US banks. USDD is issued by the European licensee 55 Global Markets, which is strictly regulated.
Monthly Audits
Cohen & Company (www.cohencpa.com), a third-party independent accounting firm will conduct monthly examinations of management’s Trust Holdings Report, to achieve third-party review of fixed assets. Truthful, effective and with 100% redemption reserves.
Real time disclosure
The official website, usdd.55.com will disclose the reserve fund’s balance and the number of tokens in circulation in real time. Users can check the balance of the USDD account, total interest, interest already distributed, etc. at any time; all information is 100% transparent.
Highly effecient purchase/ redemption
With 55 Global Markets, users can choose to quickly convert USDT to USDD with the one-button no-fee feature, or use the fiat currency to obtain or sell USDD from the 55 OTC market. The DaoCoin infrastructure also supports highly efficient redemption.
55 Global Markets measurement stable currency
The USDD will be used as a measurement stable coin for 55 Global Markets platforms’ transactions with all tokenized assets and cryptocurrencies (including but not limited to BTC, ETH, FF, etc.)
55 Global Markets is a next-generation asset trading platform driven by blockchain technology. It established 6 sub markets facilitating exchange of various forms of token. 55 Global Markets target of transactions is not limited to crypto assets like BTC or ETH, it also diverts to pools of traditionally meaningful and broader liquidity, such as real estate, private equity, foreign exchange, precious metals and even individuals’time.
Based on strength of cooperation with the partners, any third-party business organization or individual can tokenize their assets or interests in the physical world. They can then enter the 55 Global markets Blockchain Token Exchange (B -Site), Local Business Token Exchange (L-Site), Personal Token Exchange (P-Site), Forex Token Exchange (F-Site) , Stock Token Exchange (S-Site), Commodity Token Exchange (C-Site), conducting worldwide round-the-clock trading.
Press Contact Email Address:
media@55.com
Supporting Link:
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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We built the Blockchain Wallet because we’re driven by a relentless passion for making crypto easy to use. We want everyone to be able to use it, not just invest in it.
We believe that owning and controlling your own private key is the single most important aspect of using crypto. Without a private key, you aren’t using crypto – you’re just speculating and you’re missing the defining part of crypto: user controlled, sovereign money.
It was enabling that exact need that underpinned the development of the Blockchain Wallet six years ago. The mission? Make it easy for every user to have their own private key, to get users away from storing funds at exchanges and “bitcoin banks”, and to enable everyone to be their own bank.
Fast forward six years and we’ve achieved a few things that we’re proud of:
Building the first cross-platform, non-custodial, and cross-chain wallet
Signing up 30 million wallets in 140 countries globally
Powering over $200 billion in consumer transaction volume and over 80 million consumer crypto transactions in the last two years alone
Championing the cause of financial sovereignty and user-control with regulators around the world. (We’ve spent thousands of hours and millions on education and outreach.)
Helping our users store millions of BTC, BCH & ETH coins and generate over a quarter of bitcoin network traffic alone
Most importantly, it’s been a honor and privilege to be the first place tens of millions of people turn in order to actually use crypto and hold their own keys.
But there’s a lot still to do.
At the end of the last bull run, we did a serious self-assessment and asked ourselves, what do users need that we aren’t delivering today? We identified four common requests and frustrations:
Better, faster ways for new users to get their first crypto and make their first transaction
More storage types, like hardware, as users’ balances increased
More assets as users want to store and use an increasingly diverse asset set
Better, more reliable sources of liquidity as trading and investing across assets continues to increase
Satisfying these demands meant building a huge extension of our platform, at scale. We’ve had our heads down much of this year doing exactly that and starting today we’re excited to begin delivering new solutions to you, beginning with two new capabilities.
First, we’re launching Swap by Blockchain: a next generation trading product with best-in-class liquidity and execution, powered by our new machine trading software platform that ensures best execution across assets. Blockchain Wallet users will now have access to exchange-like prices without giving up control of their keys or their crypto. And trade limits will increase from hundreds to thousands of dollars of crypto per trade.
While the system currently has deep liquidity drawn from a variety of sources, we plan to add more liquidity sources over time, including decentralized exchange protocols. We’ve rebuilt our risk and KYC systems, so that you can onboard with ease, in minutes. Swap ensures our users stay liquid and can trade at the best prices in the market, regardless of overall market volatility and challenges. We’ve started rolling Swap out today and everyone will have access over the next two weeks.
Secondly, we’re launching Lockbox: a hardware vault in your pocket, built in partnership with hardware leader Ledger. Lockbox is simple to use and is even more secure thanks to a locked endpoint that prevents phishing and spoofing attacks. It’s hardware made easy, with a setup that takes just a few moments thanks to our custom hardware-software integration.
With Lockbox you’re able to check your balance and receive transactions, on mobile and web, without the inconvenience of having to plug your device in every time. In an industry first, you’ll also be able to trade directly from your Lockbox while still maintaining your keys. In conjunction with Lockbox, we’re also excited to let current Ledger device owners seamlessly pair with the Blockchain Wallet and trade directly from the Ledger device they already own.
And we have more coming this year, including additional assets and new products within the Blockchain Wallet that will bring you new, faster, and better ways to get started in crypto.
We’re here to build a new financial system and the Blockchain Wallet is your passport to that new world. Store crypto, trade crypto, transact with crypto and most importantly truly own and control your crypto.
We’re dedicated to building the functionality you want, without compromising your control of your key. Your crypto is yours, and it should stay that way.
