Hiring Spree of Crypto Giants – Sign Of Rapid Growth
Despite the current market bearish sentiment, two of the largest companies in the crypto space are on a hiring spree.
In an interview Wei Zhou, the chief financial officer of Binance reveals that the company is hiring 50 new employees in its headquarters in Malta while also recruiting new hires for the firm’s first fiat-to-crypto exchange in Singapore.
Coinbase on the other hand has expressed to double its number of staff to around 500 by the end the year.
This includes high profile hires like Michael Li, a senior executive and Head of Analytics and Data Science at LinkedIn as the company’s new Vice President of Data.
It seems that it has been a common trend that executives and experience traders from the finance sector are flocking to the rapidly growing cryptocurrency sector to be part of this new nascent industry.
Line To Release Link-Powered Ecosystem By Year End
Popular Japanese instant messaging provider, Line plans to release its crypto-powered ecosystem by the end of 2018.
The ecosystem will use Line’s native token called Link and will be dubbed as Linear Network.
The native token will be distributed to the users of the platform through an incentive system.
Users will then be able to exchange this tokens using smart contracts while developers in turn can use the company’s blockchain-as-a service to develop applications of their own.
Line is hoping that its initiative will encourage developers to create a full-range of consumer-facing applications for payment related services.
The initiative have been reported to have the backing of Line’s $10 million venture fund and Line’s Singapore-based cryptocurrency exchange Bitbox, which was launched last July.
Australia To Get Its Own Aussie-Backed Stablecoin
Australia will soon have its own Stablecoin which will be co-developed by Bit Trade, one of the oldest cryptocurrency exchange in Australia and Emaparta, a blockchain employment platform.
The Stablecoin is expected to debut next year although no exact date has been released at the time if this writing.
According to Jonathan Miller, the managing director of BitTrade, the new stablecoin will act as a buffer against the wild fluctuations associated with cryptocurrencies.
The executive also states that Stablecoins will boost trust, accelerate wide-spread adoption and could function as the backbone of blockchain-based financial applications particularly in Australia which enjoys favorable regulatory environment.
Polymath Boosting Security Tokens Space
Security tokens space boosted by Polymath’s recent strategic investment in Finova Financial, a digital financial service provider and partnership with Blokcktrade.com, a security token trading provider.
According to reports, Finova will use the Polymath's Platform and the ST-20 token standard for its Security Token Offerings (STO), a form of fundraising that resembles both initial coin offerings (ICOs) and initial public offering (IPOs).
Polymath also partnered with Blocktrade.com which will refer potential clients to Polymath and the two companies will jointly develop technologies to increase adoption in the security token space.
PundiX Terminals Enabling Restaurants To Accept Crypto
It has been widely known that a lot of cryptocurrency users are buying and holding cryptocurrency in the hope that they will gain profit in the future.
However due to falling prices, the demand for holding cryptocurrencies dropped and there is a need to refocus the attention of crypto users from speculation to its actual use.
One of the projects that is aiming for this is PundiX.
Through the use of portable point of sale devices relying on the NEM blockchain, the gadget allows retailers to settle payments using any of the 15 cryptocurrencies currently supported.
It has been reported that PundiX will start shipping 4,000 point of sale devices to several stores in South East Asia and Europe.
The firm also added that the Firm has received an additional orders from 500 individuals from 31 countries.
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