Bitcoin Weekly Wrap - Bitserve Extends Product Range & Bitstamp Enhances Platform

The emerging cryptocurrency sector has benefited from key developments that support the wider acceptance of the virtual instrument. A number of enhancements at leading providers highlight the growth opportunities present in the Bitcoin and digital currency market. We have outlined the key stories courtesy of specialist news site, DCMagnates.com.

Bitstamp Releases Advanced Version of TradeView Platform with Interactive Charting Package from ChartIQ

TradeView was officially launched by Bitstamp as it supports the needs of technical Bitcoin traders. The Bitcoin trading platform uses HTML5 technology from ChartIQ, a charting provider for the financial industry. The new platform provides users the ability to draw technical analysis directly into their charts as well as open and close trades from the platform.

One of the older Bitcoin exchanges, Bitstamp, has a strong user base from Europe but is considered to be lacking in features necessary to accommodate active traders. This is due to their lacking trading options other than the BTC/USD, as well as having offered simpler charting and open-order interfaces compared with competitors. The launch of TradeView can be considered as at least solving the interface issue as ChartIQ’s technology is used by similar web-based platforms from online FX and CFD brokers like eToro and Leverate.

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Bitserve Adds New Currency and Metals Contracts

Bitserve has added silver, platinum and palladium as pegging options for users holding bitcoin in its accounts. The precious metals join gold as potential hedges against bitcoin’s price volatility.

Each metal will be branded in the same format as Bitgold is for gold.

Also introduced is Bitfranc, based on the Swiss franc. The currency has been sought as a safe haven currency for a long time, hence its choice as a hedge against bitcoin volatility. The franc, however, did send shockwaves throughout the global foreign exchange markets when the Swiss National Bank removed its peg to the euro.

The franc joins the US dollar as available fiats for pegging.

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Financial Commission to Regulate Bitcoin Industry

Renowned regulatory authority for margin derivatives, Financial Commission, has entered the world of virtual currencies through a new financial supervisory program.

After launching a regulation program for bitcoin brokers, the Financial Commission announced the creation of new supervisory regulation for cryptocurrency Liquidity providers (LP). A Hong Kong entity, the Financial Commission provides regulatory oversight to the financial industry through arbitration hearing between brokers and liquidity providers and their customers.

The new regulation for cryptocurrency liquidity providers comes as several bitcoin ECNs have been launched over the last few months, including Exgate and Ibinex. The ECNs aggregate bitcoin and other cryptocurrency pricing from numerous exchange operators. Although several firms had planned to launch bitcoin ECNs as early as 2013, they have proved harder to create than initially believed due to price differentials between Bitcoin exchanges, as well as delays involved with transferring funds and bitcoins between exchanges. However, as the industry has matured, and with the arrival of professional market makers to Cryptocurrencies , the pricing differences between Bitcoin exchanges has decreased.

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Bitcoin Wallet Provider, Ledger, Received $1.48 million Capital Injection

France-based Ledger, a startup specializing in hardware bitcoin wallets, has reportedly secured €1.3 million ($1.48 million) in seed funding.

The round was led by leading FinTech venture investment firm, XAnge Private Equity, and joined by Hi-Media group, NetAtmo CEO, Fred Potter, Rentabiliweb Group VP, Thibaut Faurès Fustel de Coulanges, Alain Tingaud Innovations and Pascal Gauthier.

Ledger released its first product, the Nano Wallet, in December. Priced at €29, or 0.1179 BTC, it aims to be a highly secure, easy to use and cost effective alternative. Many Bitcoiners are fans of hardware wallets due to the unique user experience. More importantly, such wallets offer an apparently hacking-proof alternative to their online counterparts.

The funding will go towards building out solutions for the bitcoin ecosystem based on the core wallet offering. Slated for development are: Ledger Blue, another hardware wallet that includes a display and keyboard; near-field communications (NFC) and Bluetooth functionality compatible with smartphones and point-of-sale (POS) terminals; and a LedgerOS operating system, to be compatible with Ledger smartcards and hardware security apparatus.

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