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Russian, Chinese Capital ‘Threat’ to Bithumb + More Crypto Briefs

Tim Alper
Last updated: | 2 min read

Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news that went under the radar of the main Crypto news.

Source: iStock/FotografiaBasica

Cryptocurrency exchange news

  • There’s a warning for cryptocurrency exchanges in South Korea. Per a News1 report, experts say that 80% of the country’s exchanges could close by 2020 – and Russian and Chinese “capital” could force market leaders Bithumb and Coinone out of South Korean hands.
  • Major cryptocurrency exchange Binance for undisclosed sum acquired JEX, a crypto-asset trading platform offering spot and derivatives trading services. According to the exchange, JEX will join its ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market, providing Binance users with services such as futures contracts, options and other derivative products.
  • Thailand-based crypto exchange Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at their website in order to focus on other business opportunities. This means that after September 30th 2019 all trading on the will be stopped.

Blockchain news

  • In Japan, media giant Nikkei’s Quick affiliate says it has launched a pilot for its Ethereum blockchain-powered financial/cryptocurrency news service. The service will give users updates on conventional finances, as well as Bitcoin and other cryptocurrency information.
  • Things are never quiet in South Korea’s banking sector. Sentv reports that BNK Busan Bank has struck a partnership deal with the UK’s Xntree to create an international blockchain startup incubator. Another major bank, KEB Hana, has teamed up with Thailand’s Siam Commercial Bank for an MOU deal. Thai users will be able to use a new KEB Hana blockchain-based payment platform, says Seoul Kyungjae.
  • The Australian Securities Exchange-listed company Security Matters has lodged a blockchain-related patent application in the U.S. that can be applied to mark, track, and manage the supply chain of cannabis plants, cannabis products, and products containing cannabis derived ingredients, ZDNet reported.

Mining news

  • The head of cryptocurrency mining hardware provider Pro-mining says there has been a “20% growth in demand for mining rigs and associated equipment” in Kazakhstan, reports alb24.

Investing news

  • Japanese exchange platform Liquid by Quoine, who was responsible for the pre-sale of Telegram’s new digital token, the Gram, said that all participating customer funds are stored in a blockchain wallet and it remain in cold storage until Gram tokens are released and delivered by the seller, Gram Asia.
  • …and for those who dream actually touching their crypto holdings, the “world’s first” collectible physical cryptocurrency tokens are set to be minted in 2020 in Lithuania, claims the country’s national bank that has recently signed a contract for programming the coin.