In the first issue of The Daily this weekend, we'll cover the details surrounding the launch of a new Cointelligence cryptocurrency conversion rating system. The South Korean Bithumb Exchange has also announced plans to set up an OTC trading desk in Hong Kong, and the popular courier service Telegram has postponed the launch of its TON network until March.
Also read: Huobi Adds USD Trading Couples, Airswap Launches Fiat-to-Crypto Exchange
Cointelligence introduces the Crypto Exchange rating system
A company specializing in crypto-economy data research and analysis has recently announced plans to launch a crypto currency rating system. Cointelligence, which develops tools for investors, already offers rating services for initial notice offers (ICOs) and security token offers (STOs).
The new feature will help members of the Crypto community find the most reliable digital asset trading platform, as the creators promised in a press release. A team of experts from the crypto industry has the task of providing impartial and accurate assessments of the exchanges analyzed. They remain anonymous to prevent corruption and harassment.
According to Cointelligence, users can verify that an exchange is secure and reliable. The company says that only an actual and factual improvement of a crypto trading platform can change its rating. Cointelligence CEO On Yavin commented on the introduction of the new system:
We looked around the industry and did not realize that anyone really did. Given the number of hacks and exit scams the exchange industry has seen, we felt that this was an important tool to protect the community.
The exchange of cryptocurrency is evaluated according to several main criteria. These include accessibility and usability or the simple creation of an account. Depositing and withdrawing funds and conducting business; and a financial benefit covering applicable fees, market volume and the number of supported crypto-currencies. The crypto experts will also examine the platforms teams and assess the associated security risks.
Bithumb Global announces OTC-Desk
Big South Korean crypto exchange Bithumb has introduced a new OTC trading platform for institutional clients. In a statement issued by Bithumb Global, the company said that the Block Deal Matchmaking Service will be offered under the Ortus brand, which is owned by the Hong Kong-based subsidiary.
Institutions wishing to use the OTC desk must undergo a rigorous induction process. Applicants must provide sufficient KYC and AML documentation. Upon approval, customers will have access to a range of services offered by Ortus, such as supervised cash transfers from an insured person, a custodian bank and a US-based bank account, as well as competitive pricing from some of the largest OTC desks and liquidity providers.
"Institutions trading in digital assets need to open accounts on exchanges and OTC desks around the world. However, there is no real solution for an aggregate liquidity provider or a trusted interdealer that institutions can use to trade these assets, "said Bithumb Director Rahul Khanna. "To fill this gap in the marketplace, Ortus will enable institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best-price execution service."
Telegram delays the launch of TON Testnet on March
The popular messaging service Telegram has released new details about the completion of its Telegram Open Network (TON). According to the latest investor update cited by The Block, overall progress has been estimated at 90 percent. However, the document shows that the company postponed its testnet launch from January to March 2019.
According to the release, Telegram is now working to list the network's native token, called Gram, to crypto-currency exchanges in Asia, such as Binance, Huobi and Okex. The company, founded by well-known Russian businessman Pavel Durov, is reportedly negotiating partnerships with various online services to prepare for the launch of the Messenger app store.
What do you think about the news of today? Tell us in the comment section.
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