Dublin is the Clear Choice for Coinbase as Its Second European Office

Crypto exchange Coinbase has announced that it is expanding its European presence into Dublin giving it access to Ireland’s growing crypto economy.

In the announcement released today, the San Francisco-based exchange said the move to open a new office in Dublin is part of its wider expansion into Europe. With its headquarters for Europe based in London, the move may also have been taken to offset the impact of Brexit.

However, speaking of the announcement, Zeeshan Feroz, U.K. CEO of Coinbase, said that the addition of the Dublin office will complement the operations in London, which will remain the exchange’s headquarters.

“When considering the location of our second European office, Dublin was the clear choice – it’s an English-speaking EU member state that boasts a diverse talent pool, entrepreneurial spirit, and long-standing support for technological innovation,” Feroz added.

As a result of rising customers with the exchange in the EU growing faster than any other market last year, the exchange said that it needed to look for the “best, most qualified and passionate talent” to deliver an open financial system.

“Dublin is a talent hotspot for companies like Coinbase as they scale and internationalise critical businesses operations,” said Martin Shanahan, CEO of IDA Ireland, the country’s inward investment agency. “We look forward to welcoming Coinbase into the Irish economy, and helping them access our talented pool of young professionals from the technology and financial services sectors.”

News of the Dublin office comes at a time when the crypto exchange is building its product out to different regions. In June, the platform announced that it was expanding its presence to Asia with a new office in Japan. At the time, it was noted that the Japanese office will lay the foundations for “Japan’s crypto investors to access a range of Coinbase’s products.”

In a bid to become more attractive to institutional investors it launched a suite of products in May. These include the Coinbase Custody, the Coinbase Markets, and its Coinbase Prime. Its Coinbase Pro is an evolution of its GDAX platform, which is specifically designed for individual traders.

Founded in 2012, the platform currently has five crypto assets available on it: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ethereum Classic, which are available across 33 countries. Earlier this month, it announced that Ox (ZRX) was now available to trade on Coinbase Pro.

Fifth Largest Crypto Exchange Huobi Lists Four USD-Backed Stablecoins, Following OKEx

Another major crypto exchange Huobi has announced the listing of four stablecoins at once, according to an official statement Tuesday, October 16.

Starting Friday, Oct. 19, the fifth largest crypto exchange by trading volume will start accepting deposits of four USD-backed stablecoins – Paxos Standard (PAX), TrueUSD (TUSD), USDCoin (USDC), and Gemini Dollar (GUSD).

The Huobi Global team noted that the stablecoins are already available on Huobi Wallet, while the launch time and other details are set to be announced at a later time.

Huobi also stated that they will release detailed plans for over-the-counter (OTC) trading of the stablecoins on Huobi OTC “soon.”

The move from Huobi follows closely on the heels of an almost identical announcement about the listing of the same four stablecoins by the second top crypto exchange by trading volume, OKEx, yesterday, Oct. 15. OKEx has already launched deposits in the four stablecoins, with withdrawals available starting from today.

Also on Oct. 15, blockchain trust company Paxos announced it had issued about $50 million worth of its stablecoin Paxos Standard Token. The Ethereum (ETH) blockchain-based stablecoin has received regulatory approval from the New York State Department of Financial Services (NYDFS) on September 10, together with another stablecoin Gemini Dollar that was launched by Winklevoss brothers.

Yesterday, U.S.-based cryptocurrency payment processor BitPay also launched stablecoin support, enabling merchants to receive settlements in Gemini Dollar and Circle USD Coin (USDC).

Telegram to Debut ‘Test Version’ of Blockchain Platform TON ‘This Autumn,’ Say Investors

Encrypted messenger service Telegram will release a test version of its blockchain-based TON platform “this autumn,” Russian media outlet Vedomosti reports Tuesday, Oct. 16.

Speaking to the publication, investors “confirmed” the authenticity of a circular sent to participants in TON’s Initial Coin Offering (ICO) at the start of September.

In the circular, the company said that the platform’s blockchain component was currently under development, with “70 percent” of the product already finished, the publication claims.

Once in operation, TON will also make use of its in-house cryptocurrency, Gram, and will form a “new way of exchanging data.”

Telegram attracted considerable attention earlier this year when it raised almost $1.8 billion in investments for TON and its current messenger app via two private ICO presales.

Following the success of the fundraising, in May executives subsequently cancelled the planned public phase of the ICO.

At the time, Russian media also speculated that authorities’ attempts to block access to Telegram altogether for the country’s residents was a result of the ICO and plans to release Gram, rather than the official explanation that the service flouted data sharing laws.

CEO Pavel Durov declined to comment when asked by Vedomosti to confirm the TON release timeframe.

AltcoinToday.com

Photo via Shutterstock.

Source: Cointelegraph

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