Bitcoin 

Bitcoin Network Transfers $1 Billion ‘For Price of a Cup of Coffee’

The CEO of cryptocurrency exchange Bitstamp has highlighted Bitcoin’s (BTC) utility after funds worth almost $1 billion changed hands for less than $4 in fees. Bitcoin fees too small to comprehend As blockchain monitoring resource BitInfoCharts confirmed on Oct. 14, the transaction at wallet and storage provider Xapo involved a total of 112,027.29 BTC. Previously, Bitstamp had transferred around 107,800 BTC of its funds to Xapo, paying a fee of 0.0234 BTC — or 0.0000217%. The subsequent transaction, handled by Xapo itself, saw an even more microscopic amount paid to…

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Blockchain 

Crypto Debit Card Firm Cryptopay Launches UK Bank Transfers With British Pound

Crypto wallet and debit card service company Cryptopay now offers transfers with the British Pound (GBP) through the Faster Payments Scheme. Cryptopay revealed the development in a press release with Cointelegraph on Oct. 9, specifying that its United Kingdom-based users can now fund their accounts and make withdrawals with GBP, avoiding GBP to euro conversion charges. The release further explains: “Upon activation users will get their own sort code and account number, which means that the transfers will bear the account holder’s name, not Cryptopay. This is especially important as…

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Blockchain 

Gemini Joins Silvergate Exchange Network for 24/7 Fiat Money Transfers

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is joining crypto-friendly bank Silvergate’s Silvergate Exchange Network (SEN) to speed fiat transfers. Real-time fiat money transfers Gemini announced the move in an official blog post on Aug. 27. According to the announcement, the main benefit of the exchange’s partnership with Silvergate is that Gemini’s institutional investor clients can withdraw and deposit United States dollars from their accounts at any time. This is already the industry standard for cryptocurrencies, but not for fiat money, per the report. Additionally, the announcement states…

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Ethereum 

Grayscale to Conduct One of Largest Single Day Crypto Transfers

Today, digital asset management fund Grayscale Investments will transfer nearly $3 billion worth in cryptocurrency holdings to American major crypto wallet provider and exchange exchange Coinbase. Largest single crypto transfer? As Forbes reported on Aug. 2, Grayscale is going to move almost $3 billion worth of its digital currency holdings, including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Ripple (XRP), among some other tokens, to Coinbase, wherein Coinbase Custody will serve as custodian of the underlying assets for the company’s products. Together with its cryptocurrency holdings, Grayscale…

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Ethereum 

‘Future is Here’ Declares CEO as Binance Transfers $1.2 Billion For Under 2 Cents

On June 26, about $1.2 billion in binance coin (BNB) has been transferred in 1.1 seconds with a $0.015 fee on the binance chain, reveals data published on WhaleAlert, a platform tracking significant transactions. Earlier today, CEO of major cryptocurrency exchange Binace, Changpeng Zhao, warned that big transactions should be expected. He explained that the exchange intended to split its BNB cold wallet in multiple addresses. After the transaction took place, Zhao cited some data about its cost and speed: “This transaction: cost $0.015 USD in fees, took 1.1 seconds,…

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Bitcoin 

Privacy Service for XMR-Enabled Bitcoin Transfers Removes Support for US Residents

XMR.to —  a service that allows users to increase the privacy of their Bitcoin (BTC) transactions by using Monero (XMR) as an intermediary currency — has announced it will not be serving United States-based clients for the time being. The news was revealed in a post from a member of the site’s core team to a Reddit thread on March 30. The brief statement gives little information, indicating only that: “XMR.to will for the time being not be serving customers in the US. We are working with our legal team…

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Blockchain 

Western Union Partners With Stellar Collaborator Thunes for Mobile Wallet Transfers

Payments giant Western Union (WU) is partnering with Stellar (XLM) collaborator Thunes to enable WU clients to transfer funds directly to mobile wallets globally. The development was announced in an official press release published on March 21. Thunes is the latterly rebranded trading name of TransferTo — a cross-border payments network focused on emerging markets. TransferTo had previously partnered with open source blockchain project Stellar to trial the integration of blockchain-powered settlements into its services. According to Western Union’s press release, the partnership with Thunes will focus on enabling the…

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Bitcoin 

QuadrigaCX Transfers Remaining Crypto to Big Four Auditor Ernst & Young

Canada’s now-offline QuadrigaCX cryptocurrency exchange has sent its remaining crypto assets from its hot wallets to Big Four auditing firm Ernst & Young (EY), according to the an official report EY published on Feb. 20. According to the EY’s “Second Report of the Monitor,” QuadrigaCX transferred almost all its online crypto to the auditor on Feb. 14, following some initial testing arrangements. The transferred amount included 51 Bitcoin (BTC), 952 Ethereum (ETH), 822 Litecoin (LTC), 33 Bitcoin Cash (BCH), and 2,033 Bitcoin Gold (BTG); a sum worth roughly $410,000 at…

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Bitcoin 

Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia

High-volume Coinbase Pro and Prime users in Europe and Asia can now fund their accounts via international SWIFT wire transfer from non-United States bank accounts, a post on the official Coinbase blog announces Jan. 22. The post also notes that “select Coinbase Prime customers globally will also have access to our US and European over-the-counter (OTC) trading desks and Coinbase Custody.” Coinbase Custody — which focuses on serving  institutional customers and storing large amounts of cryptocurrencies — recently obtained approval to operate in the state of New York, after launching…

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Blockchain 

Mongolia Partners With Stablecoin to Use Blockchain for Lending Services, Money Transfers

Mongolia’s capital city of Ulaanbaatar has partnered with a stablecoin company to release instant money transfer and lending services, Asia’s largest tech media platform e27 reported on Jan. 11. Ulaanbaatar City’s administration has agreed to partner with a South Korean blockchain company, dubbed Terra, in order to eventually replace the current payment methods for utility bill and government subsidies with the Terra stablecoin, according to the publication. The pilot program is scheduled to be launched within the next six months, and will start in the city of Ulaanbaatar’s Nalaikh District,…

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