Binance plans to build office in the Channel Islands
After recently building an office in Malta, the largest exchange in the world by trading volume, Binance, has decided to open up another office, this time in the Channel Islands (Jersey island, between the UK and France), giving it more flexibility for operating within the UK and European markets
“Global expansion strategy… also form a strong operational foundation for our expansion into the rest of Europe” Binance CEO Zhao Changpeng said.
The nation has favorable privacy and tax conditions for businesses that want to set up their financial accounts there. Binance will have to pay a 10% tax on its income.
Coinbase launches crypto index fund
Crypto giant Coinbase announced that its cryptocurrency index fund, first revealed in March, is now open to investors in the US.
The company said in a blog post that it has seen “overwhelming” interest from investors, and now it is reaching out to those who want to invest between $250,000 and $20 million. For now, the company said, participation is limited to the U.S. and those who are accredited investors.
Coinbase Index Fund gives investors exposure to all assets listed on the exchange, weighted by market capitalization.
Coinbase did say that it is working to launch other funds that are “accessible to all investors and cover a broader range of digital assets” so, if you’re not an accredited U.S. investor, there might be opportunities for you depending on what comes next.
Zug tests Blockchain to decide on fireworks and digital IDs
The city of Zug, home of the Swiss Cryptotal, invites its inhabitants to an experimental blockchain vote. They are expected to exchange views on various issues of local importance, including fireworks during the annual Lakeside Festival and the use of digital passes to borrow books and pay parking fees.
Kraken Daily Market Report for 12.06.2018
KRAKEN DIGITAL ASSET EXCHANGE
$197M traded across all markets today