Crypto News 02.11.2018

Ledger expands to Asia with new Hong Kong office

Paris-based crypto security giant Ledger expands into Asia with the establishment of a Hong Kong office. The launch into the new terrain will see the company fulfilling the growing demand for both Ledger Vault and the Ledger Nano S.

Ledger President Pascal Gauthier said “APAC is a key market that has seen increased demand… we are confident we can deliver top security for both consumers and financial institutions to protect their crypto assets.”

deVere launches new crypto fund

UK based financial advisory firm deVere Group, which says it has over $10 billion under advice and management, launched an actively managed cryptocurrency fund. “deVere Digital Asset Funds” is being launched in partnership with Dubai-based hedge fund manager Dalma Capital Management.

The fund will provide investors with a diversified exposure to digital currencies, but aims to reduce the volatility “for which the market is known,” deVere states. The fund will invest in a portfolio of various digital assets using algorithmic trading over different platforms – including cryptocurrency exchanges and OTC (over the counter) markets, as well as taking advantage of arbitrage. The founder and CEO of deVere Group, Nigel Green, said in the release that he believes that cryptos are now “undeniably part of mainstream finance” and that there is growing demand from clients.

Binance Uganda signs up 40,000 traders its first week

Demand for cryptocurrency appears to be booming across Uganda, a country where nearly 3 out of 4 people dont have bank accounts. Binance Uganda signed up 40,000 users in the first week since the worlds largest crypto exchange launched its local subsidiary in October. The early results suggest a strong appetite among unbanked Ugandans for purchasing Bitcoin.

Binances chief financial officer Wei Zhou said: “They (users) just have to have money within the mobile payment system. They don’t have to have bank accounts… (Uganda is) an up-and-coming African country” with a relatively crypto-friendly and stable political system. “For Africa as a whole, this is just step one for Binance to serve Africa.” he said. Kwame Rugunda, chairman of the Uganda Blockchain Association and co-founder of the Ugandan blockchain startup CryptoSavannah said “There’s a large consumer market for people purchasing cars, for example, because Bitcoin is legal tender in Japan” where the cars are manufactured.

Crypto News 02.11.2018

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