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Saturday’s edition of The Daily covers developments of interest to crypto traders. Once one of the largest exchanges in India, Zebpay is now increasingly focusing on Europe. The platform has expanded its services to residents of five more countries in the region. Also, troubled crypto trading platform Coinpulse has announced “indefinite maintenance,” asking customers to withdraw their funds, and Binance has introduced credit card deposits.
Also read: Bitcoin Carnivory, Dapps & DEXs, Quadrigacx Claims Insolvency
Zebpay Continues European Expansion
Zebpay, which was one of largest Indian cryptocurrency exchanges until last fall, is expanding its presence in Europe. The trading services of the now Malta-based platform will be available for users in five more countries on the Old Continent – Liechtenstein, Lithuania, Romania, Slovakia, and Spain – bringing the total of supported European jurisdictions to over 40.
The exchange terminated its services in India in September 2018 due to the banking ban imposed by the Reserve Bank of India, the country’s central bank. At the time, it claimed to have around 3 million users. Zebpay then established subsidiaries in Malta and Singapore and started introducing its digital asset trading platform in a number of new markets in Europe, Asia and South America.
In December, Zebpay launched euro deposits and withdrawals and started trading BTC, ETH, LTC, XRP, and EOS with EUR in 26 countries. The platform is accessible through its Android and iOS apps. The company also became a member of two Swiss industry organizations – Crypto Valley Association and Bitcoin Association Switzerland.
Coinpulse in Maintenance ‘Until Further Notice’
Crypto exchange Coinpulse has announced it will enter what it calls “indefinite maintenance” on Feb. 7, 2019 until further notice. Its team explained in a blog post that it’s been working with an investor “behind the scene” to try to keep the platform afloat, but the process has been taking longer than expected. On Thursday, Coinpulse tweeted:
We will have to suspend all trading and deposits from Feb. 1, 2019. We will keep withdrawals open until Feb. 7, 2019.
The exchange also informed users it expects them to transfer their funds out of Coinpulse wallets to their personal wallets or other exchanges in order to avoid being locked out during the maintenance. It advised traders who keep more than one currency to start withdrawing their BTC balance first, then ETH, and after that any other digital coins or tokens.
Coinpulse is currently looking for other investors interested in acquiring its digital asset trading platform along with its website and trademark.
Binance Enables Card Payments, Lists Stablecoin
Binance, the largest cryptocurrency exchange by daily trading volume, has announced its users will be able to make deposits with Visa and Mastercard credit cards. The payment option has been introduced through a new partnership with the payment processor Simplex. The feature is already live, the platform said in a blog post.
“We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible,” said Binance CEO Changpeng Zhao, commenting on the news. He added that the partnership with Simplex allows the exchange to bridge the gap between credit card payments and cryptocurrencies for traders.
In a separate announcement, Binance has informed users it will list another stablecoin. On Friday, the exchange tweeted to say it’s adding support for Stable USD (USDS). The crypto is reportedly backed 1:1 with U.S. fiat currency. Trading pairs with BTC and BNB, Binance’s own token, will be available on Feb. 6, the exchange noted.
What are your thoughts on today’s news tidbits? Tell us in the comments section.
Images courtesy of Shutterstock.
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