Binance has Trouble in Japan, Ripple Tests Out China: Best of the Week

Catch up on last week's top stories.

Ripple spreads to China

Blockchain payment provider Ripple has announced that it plans to begin testing its services in China.

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In order to achieve this, it is attempting to “educate” the authorities as to why Ripple is different to other cryptocurrencies.

eToro gets investment for blockchain ventures

Social trading and investment platform eToro has attracted 100 million USD in investment money for some new blockchain projects. The money will also be used for company development and expansion.

CEO Yoni Assia told Finance Magnates: “We were working on this move for the last few months. Many investors are interested in our growth, mostly thanks to our aggressive penetration to the stocks and crypto markets.”

Krypton Software launches new cryptocurrency product

Technology provider Krypton Software is now offering software for brokers that wish to offer cryptocurrency trading. The software supports integration with thirteen major cryptocurrency exchanges.

Krypton Software was launched in 2017 by binary options technology provider Tradologic.

People’s Bank of China appoints new governor

Yi Gang once said that Bitcoin is “inspiring”, but has not yet commented on the current legal status of cryptocurrency in the country. Before his promotion, he served for more than ten years as the vice-governor of the bank.

Gang said in a statement: “The main task is that we should implement prudent monetary policy, push forward the reform and opening-up of the financial sector, and maintain the stability of the entire financial sector.”

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Ayondo to be listed on the Singapore Stock Exchange

Germany-based social trading brokerage Ayondo seeks to raise 16 million USD in the related IPO, half of which will be used to repay the loan to Singapore-based Luminor Capital.

The company reported a loss of $7 million in the first nine months of 2017.

Binance gets in trouble in Japan

The Japanese financial watchdog told the giant cryptocurrency exchange that it has been operating in the country without a licence. It threatened the exchange with criminal charges if it continues operations without becoming compliant.

The FSA also noted that Binance has been allowing Japanese citizens to open accounts without confirming their identities.

Binance to open in Malta

Following its recent trouble with the Japanese authorities, Binance is looking to the Mediterranean. It wants to open a fiat to cryptocurrency exchange in Malta, and to this end it has been in communication with the Maltese government and local banks.

Malta is a relatively cryptocurrency-friendly jurisdiction – the prime minister of the country even took to Twitter to welcome the exchange.

Plus500 publishes details of results

Brokerage Plus500 reported details of the financial results that it released earlier in the year.

The company has been heavily investing in promoting its mobile applications, and the report noted that 40 percent of its total revenue in the final quarter of 2017 came through Apple devices.

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