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.

Indonesian Startup Pundi X Unveils Blockchain-Based Smartphone, OS and Communication Protocol

XPhone Pundi XXPhone, Pundi X Labs

Indonesian point-of-sale (POS) terminal maker Pundi X Labs (Pundi X) has unveiled the development of a new smartphone as well as an operating system and communication protocol for mobile devices based completely on blockchain technology. Pundi X claims the XPhone lets users call, send messages, and transfer files all by using blockchain instead of traditional carriers.

The startup said on Wednesday that it has successfully made the first phone call on an operating system powered by a fully decentralized blockchain network it is developing called Function X. The proof of working concept was showcased earlier this week at the XBlockchain Summit in Bali.

“Pundi X develops technology to solve challenges that blockchain technology is facing and make it usable in our life,” said Pitt Huang, the co-founder and CTO of Pundi X, as quoted by App Developer Magazine.

“We see blockchain as being at a similar stage of development to the Internet in the early ‘90s; a new kind of network and decentralized protocol like Function X will be transformational to blockchain as the browser was to the Internet. For a start, it’s putting blockchain in the hands of millions via a smartphone and returning control of their data back to them, but it also answers so many other challenges.

“The possibilities for decentralized data storage and transmission are limitless. Decentralization is the core of blockchain technology and the new protocol for truly decentralized data transmission reflects Pundi X’s belief that everything should flow from this core philosophy.”

Zac Cheah, CEO and co-founder of Pundi X, said that by offering people the choice to be independent of a centralized communications network, his company was creating a new use for blockchain that can be appreciated and used by the mainstream.

“This will have considerable implications for the future of blockchain and give life to a network large enough to support better scale, throughput, new potential applications and true decentralisation that has so far eluded blockchain,” Cheah said.

According to a blog post, Function X consists of five essential components: Function X OS, Function X Blockchain, Function X IPFS, FXTP Protocol, and the Function X Docker. All five have one sole purpose which is to decentralize all apps, website, communications and data.

The Function X OS is based off the Android OS 9.0, therefore compatible with Android apps, the company claims. Every device in the Function X ecosystem will be a node and each will have its own address and private key, uniquely linked to their node names.

Pundi X, which initially focuses on POS devices that support cryptocurrency payments, said the Function X Blockchain, FXTP, IPFS, and XPhone will be officially launched in Q2 2019. More details about Function X will be released on October 15.

The XPhone joins the growing list of blockchain smartphones that have emerged in recent years. Smartphone manufacturer HTC and cryptocurrency startup Sirin Labs are working on blockchain phones.

eToro Slashes Crypto Costs To Increase Mass Adoption

eToro has announced a huge slash in the transaction fees of crypto assets as part of an ongoing effort to increase awareness of the potential of crypto and blockchain. The platform hopes to make crypto more accessible to retail investors and reduce the financial burden for those interested in crypto investment with this move.

The price slash has taken effect as spreads on all crypto assets on the eToro platform have been cut with the spreads on many assets, even bitcoin was cut by more than half. This move is a game changer for clients, as they get to take home more money.

Yoni Assia, Co-founder, and CEO of eToro, while commenting on the development said the social trading platform is happy to encourage the mass adoption of crypto, and make it “as simple and accessible as possible” for investors interested in crypto trading. According to him, the company is also willing to cut costs for clients without having to part with their gains.

He went on to state:

“We are also committed to raising awareness among investors of the potential offered by crypto and the blockchain technology that underpins it. This includes sponsorship, advertising, speaking at events and producing educational material. Yes, crypto is highly volatile and not appropriate for all investors, but we also believe that for many it can have a role to play as part of a diversified long-term portfolio.”

eToro has been actively involved in driving crypto adoption globally. Earlier this year, the company sponsored seven Premier League football clubs in a deal paid with bitcoin, signed advertisement deals with German football team Eintracht Frankfurt, and signed French tennis player Gaelle Monfils as a global ambassador.

Assia said part of what inspired the move on the company’s part was recurring news headlines that kept announcing the end of crypto, which is contrary to the reality of crypto – as the company continued to experience a growing interest in crypto and demand for these assets.

According to him, crypto gained a lot of attention from the masses after the “huge price rally” late last year. Since then, prices have slumped and have stabilized. eToro has leveraged on the success of this rally, using it as an opportunity to educate, and interact with regulators, as well as participants in traditional financial services about the potential opportunities offered by crypto and blockchain.

“Crypto is here to stay. We believe that in the future all assets will be tokenized and that crypto is just the first step on this journey,” Assia concluded.