Hong Kong – May 11, 2018 – , one of the first providers to offer a crypto debit card with instant conversion, announced today its integration of the to provide continuous liquidity for the Hash Card platform. Earlier this week, Hash Card received over 1500 applications in the first 48 hours and raised over $1.5 million in their private pre-sale ahead of their public sale and are anticipating more than 20,000 clients by year end.
By integrating the Bancor Protocol, HSHC token holders will gain access to continuous liquidity regardless of trade volume or exchange listings, through the Bancor Network, where any integrated token can be automatically converted to any other directly from the Bancor Wallet or any Web3 wallet, such as MetaMask.
“We anticipate having a huge community and massive demand for the HSHC token, so it absolutely makes sense for us to provide our users with an easy way to convert tokens,” said Karol Kozlowski, CEO of Hash Card. “Integrating with Bancor will provide liquidity to everyone who wants to be a part HSHC as we build our platform and revolutionize how people use debit cards today.”
Hash Card will activate a Relay Token with two percent of its circulating token supply within a week following the successful completion of the Token Sale. Users will be able to purchase and sell HSHC tokens directly from the Bancor Wallet or any Web3 wallet at a formulaically calculated price.
About Hash Card
Hash Card is one of the first crypto debit cards that offers instant cryptocurrency conversion to traditional currency in real-time with over 20 altcoins as a funding method, bringing long-awaited liquidity and simplicity to crypto holders. To order your card or learn more please visit the or join .
About Bancor
is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the or join the for more information.
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A remarkable leap forward for the Ethereum community as May 11, 2018, marked the debut of futures on a regulated trading platform.
This new development with potentially far-reaching consequences took place in the United Kingdom where Crypto Facilities, a regulated trading platform answerable to the , launched the first batch of regulated ether futures for trading.
A Natural Addition to Crypto Facilities Portfolio
Based in London, Crypto Facilities already has bitcoin futures and Ripple XRP futures in its portfolio. Its trading data is one of the main sources for CME Group’s bitcoin Reference Rate (BRR), which the Chicago-based exchange uses to price its .
Crypto Facilities chief executive Timo Schlaefer about the significance of the move for the company and the community:
“Ether is the second most liquid cryptocurrency after bitcoin, trading in the billions of dollars daily, and we are excited to be launching ETH futures. The Ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.”
He also stretched that just like attained maturity as a financial asset towards the fall of 2017, ‘s ether is also embarking on a similar path in 2018.
Partnership with Akuna Capital
Crypto Facilities has joined forces with Chicago-based Akuna Capital to ensure liquidity for the newly launched ethereum futures product, which both companies believe will help fill a product-gap in the market.
Calling it a valuable investment vehicle, Toby Allen, Akuna Capital’s head of digital assets, stated that the significance of the move to launch a regulated ethereum futures product can be gauged by the fact that traders now can “take both long and short positions in .”
Allen further added that the move is indeed a big lead forward when it comes to the “development of the crypto asset class.”
Market Reaction
The such as the one just launched by Crypto Facilities is a hot topic of debate in the global financial circles.
For example, earlier in May 2018, a group of analysts associated with the Federal Reserve published a report indicating that CME’s launch of . They argued that the decline happened because bitcoin futures empowered bears to easily bet on short positions, which can be damaging for a market that’s still very nascent.
On the contrary, there are also many experts who are of the view that the presence of these financial products eventually pays off in the long run as there is a good chance of them turning bullish for the asset class.
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