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Start up company "CoinLoan" to offer Fiat loans backed by Crypto Assets.
CoinLoan's objective is to enable users to receive funds in any fiat currency which will inturn be secured by crypto assets. The proposed system will automatically select the most suitable borrowing option for the borrower and then make the loan available in various fiat currency's. Loans can be issued without the need to verify the borrower’s solvency, which is always required in the traditional banking system.
This system will be designed to be flexible and borrowers will be able to become lenders, and vice versa.
In a nutshell CoinLoan will allow any holder of cryptocurrency to obtain a loan in fiat currency with their crypto assets held as collateral for the loan. The borrower’s security deposit remains in the CoinLoan system until the loan is finalized. When the loan and interest are paid, the Crypto assets are returned back to the borrower.
CoinLoan will initially accept Bitcoin, Ethereum, Litecoin, Ripple, Dash and Monero as loan collateral which can then be exchanged for the following fiat currencies: USD, EUR, GBP, CNY, JPY, RUB, CHF, PLN and CZK. The number of cryptocurrencies accepted will eventually increase over time.
For more information visit: https://coinloan.io
Malaysian set to legalize Bitcoin usage within the country.
This week the Malaysian government and its financial regulators have pledged that they will regulate the Bitcoin industry in Malaysia and alao legalize the usage of the digital currency within the country.
A Malaysian central bank official stated:
"We hope that by year end, BNM will be able to come out with some guidelines on cryptocurrency, particularly those related to anti-money laundering and terrorist financing. We want to ensure that there are clear guidelines for those who want to participate in this sector."
The Malaysian government and its central bank have always imposed strict monetary control and have restricted the flow of money in and out of the country. Consequently Malaysians have struggled to send large sums of money to their families overseas.
With this proposal put forward by the Malaysian government, it will surely help to encourage the use of Cryptocurrency and should benefit the country's economy and the acceptance of Digital Currency worldwide.
Cryptocurrency Trading Volume may soon surpass Apple stock trading
Cryptocurrency trading volume has hit a wopping daily average of $3 billion dollars per day and will likely soon surpass the world’s most traded stock Apple shares which currently average $4 billion dollars per day.
Although digital currencies and Apple stocks represent two completely different asset classes, this would be a major milestone for the crypto markets and would surely put cryptocurrency in the spot light of major investors and your average investors alike.
Warning: this part of the post contains swearing, derogatory comments and bias opinions! If you are sensitive to verbal backlash please stop reading now!
JP MORGAN says Bitcoin is a fraud.!
Last week JP MORGAN officials announced that Bitcoin is a fraud and it will all come crashing down in a pile of worthless shit.! Well these were not their exact words but that is the message that the world interpreted and the result was a massive loss of billions of dollars wiped off the cryptocurrency market in a matter of days, as people panicked and sold their coins!
Meanwhile JP MORGAN waited for the inevitable drop in price that they had basically single handedly created, to then purchase a massive amount of Bitcoin through third party client accounts! What the fuck? Talk about market manipulation! These guy's should be strung up by their balls and hung out to dry.😠 I mean if this is not insider trading or at least some kind of fraudulent activity then what is? These assholes have proven that having a position power, influence and deep pockets is a guaranteed get out of jail free card.! Don't believe a word these bank bastards say people! They are corrupted from the bottom to the top, and they will do whatever it takes to win and stay in power. Aluminati comes to mind but I'll leave that for another rant 😁.
The fact of the matter is that they are scared of what Bitcoin and other Cryptocurrencies will do to the Banking sector, and they have begun to play dirty. Think about it, if the banks are now buying cryptocurrencies then what do you think the future will be...🤔
And on a lighter note here are some of the latest Crypto's To Hit The Markets
https://www.vibehub.io
https://substratum.net
https://kyber.network
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