VNX Exchange (CURRENCY:VNXLU) traded 3.3% higher against the dollar during the 24-hour period ending at 14:00 PM E.T. on October 27th. In the last week, VNX Exchange has traded up 12.3% against the dollar. One VNX Exchange token can currently be purchased for approximately $0.33 or 0.00002394 BTC on major cryptocurrency exchanges. VNX Exchange has a total market capitalization of $9.15 million and approximately $196,092.00 worth of VNX Exchange was traded on exchanges in the last day.
Here’s how related cryptocurrencies have performed in the last day:
VNX Exchange Token Profile
Buying and Selling VNX Exchange
VNX Exchange can be traded on these cryptocurrency exchanges: . It is usually not presently possible to purchase alternative cryptocurrencies such as VNX Exchange directly using US dollars. Investors seeking to trade VNX Exchange should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase VNX Exchange using one of the aforementioned exchanges.
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Author: ABMN Staff
Singapore’s Largest Commercial Bank Launches Bitcoin Exchange – securebitcoinnews
A Singapore-based multinational bank with over $400 billion of assets, DBS announced an institutional-grade digital asset exchange, custody, and platform for security token offerings (STOs).
At the time of writing, DBS has taken down the page with the announcement, which may be attributed to ongoing social media excitement.
This is a big deal https://t.co/cdDdDhdD7S
— Barry Silbert (@BarrySilbert) October 27, 2020
According to the announcement, the new exchange is regulated by the Monetary Authority of Singapore (MAS). Only financial institutions and professional market makers like DBS Vickers Securities will be allowed to use the platform. They will act as intermediaries for individual clients.
The exchange has a 0.1% fee, but institutions can add additional fees for individuals.
Regarding the security token offerings, DBS claims that small and medium-sized enterprises, along with corporations, can potentially reach a wider investor audience through digital fundraising.
Notably, only qualified investors will be approved to participate once the service is live.
The initial crypto lineup includes Bitcoin, Bitcoin Cash, Ether, and XRP. Trading pairs are against fiat currencies, such as USD, SGD, and JPY.
Margin trading isn’t offered at this stage. However, institutions will need to pledge fiat or digital currencies to be able to trade. Trading limits will depend on the size of a pledge.
DBS highlighted that it offers a convenient fiat on-ramp, eliminating the need for stablecoins like USDT. It’s a sensible claim, considering that regulators worldwide are weighing central bank digital currencies (CBDCs) and pushing against stablecoins.
A downside of the bank-backed exchange is that it has a trading schedule and may be inconvenient for those who are used to 24/7 crypto trading.
Overall, the DBS announcement falls in line with the ongoing trend of crypto acceptance among institutions. With giants like PayPal integrating digital currencies into their services, the bull-run indeed appears to be in the first inning.
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Singapore, DBS Bank launches a crypto exchange
Singapore’s largest bank, DBS Bank, will launch a crypto exchange.
The news has been reported by The Block Crypto. Based on what has emerged so far, DBS will launch this fiat-crypto trading platform, which should be called the DBS Digital Exchange.
For now, trading will take place with Bitcoin, Bitcoin Cash, Ethereum and XRP.
A page on the DBS website, now deleted but accessible from the cached version, revealed some details of the exchange. It states that DBS Digital Exchange will be an exchange of digital assets supported by a bank. It will allow companies and investors to enter an integrated ecosystem of solutions that can exploit the potential of private markets and digital currencies.
In addition, DBS Digital Exchange would also launch a security token platform, which would be used to digitize assets and then make them available to investors who do not normally have access to tokens. It would essentially allow investors to raise capital from qualified investors through STOs (Security Token Offerings).
Finally, the real novelty would be the custody service. It would not be managed directly by DBS Digital Exchange, but the digital assets would be held at DBS Bank through the DBS Digital Custody service.
At the moment this project remains in limbo. The fact that the web page with the information about the exchange has been deleted is puzzling. Maybe the timing was wrong, maybe an official announcement was expected.
But what is certain is that DBS Bank is yet another bank that acknowledges that the financial world is changing with the arrival of cryptocurrencies. If banks want to keep up with the times, they will have to start offering crypto exchange and custody services.
It seems a bit of a contradiction with the idea of Bitcoin, which was born to be an alternative to the banking system. But unfortunately, not everyone can do without intermediaries, especially large investors, and this limits the spread of Bitcoin and cryptocurrencies.
All that remains for banks to do is to adapt, alter the original purpose of cryptocurrencies towards their needs and keep up with the times.
Author: By Eleonora Spagnolo
– 27 Oct 2020
Bitcoin Strikes In direction of $14Okay as DBS Opens Crypto Alternate
Minutes after DBS introduced its foray into the cryptocurrency trade enterprise, Bitcoin resumed its uptrend.
The BTC/USD trade fee added as much as $411, or 3.14 p.c, to set one other year-to-date excessive simply shy of $13,500. The pair corrected decrease by $100 amid renewed profit-taking however left the Bitcoin market extra bullish than it was originally of this week.
A part of the explanation was its in a single day sell-off that appeared virtually in sync with the same draw back transfer throughout the three Wall Avenue indexes: the S&P 500, the Dow Jones, and the Nasdaq Composite. However not like its conventional friends, Bitcoin was in a position to transfer again into constructive territory.
On Tuesday, merchants obtain extra bullish cues from DBS, probably the most in depth banking company in Singapore, introduced “DBS Digital Alternate.”
In line with its official web site, which went offline for unknown causes, solely to renew later, the brand new DBS enterprise will supply “buying and selling providers from fiat currencies to 4 of the highest digital currencies in circulation – Bitcoin, Bitcoin Money, Ether, and XRP.”
The information helped to revive the bullish sentiment within the Bitcoin market, with prime analysts sharing their revised upside targets for the classes forward. Alex Saunders, the founding father of Nugget Information AU, shared a chart that confirmed BTC/USD in a transparent uptrend in the direction of $14,000.
Bitcoin worth outlook, as shared by Alex Saunders. Supply: BTCUSD on Coinbase
A pseudonymous daytrader additionally stretched his Lengthy targets in the direction of $14,000, with stopover profit-taking ranges close to $13,600 and $13,800.
“Prepare for the journey fam,” the analyst added.
Ronnie Moas, the founding father of Standpoint Analysis, noted that the most recent rally pushed the Bitcoin worth to its highest degree in 16 months. The analyst additional highlighted that the cryptocurrency is now simply eight p.c away from its three-year excessive.
“Latest watershed moments together with, however not restricted to, Sq., PayPal, MicroStrategy, and Constancy are usually not but absolutely priced-in,” he added. “2021 goal = $28,000.”
Bitcoin was buying and selling at $13,458 on the time of this writing. It just lately rejected an in depth beneath $13,350-support.
Author: By admin
What is the exchange rate of EUR (Euro) / USD (US Dollar) on Tuesday October 27, 2020
Get the latest mid-market rate for EUR (Euro) / USD (US Dollar) for Tuesday October 27, 2020 right here.
The latest rates for EUR (Euro) / USD (US Dollar) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest Forex Market data to bring you live information to help you make the right forex trading decisions.
Tuesday October 27, 2020 1 EUR (Euro) is worth 1.183061 of USD (US Dollar) .
Remember to always trade with a reputable broker. It’s also possible to apply forex concepts to cryptocurrency trading.
Forex trading is inherently risky and there are countless forex pairs to choose from. The only way to make a profit from forex trading is to understand how the market works. Luckily for you the Born2Invest forex team has collated some forex trading tips to get you started.
Forex trades are always made using currency pairs. Whenever you buy one currency you are selling another. In every pair there is a base currency, for example EUR (Euro) and a quote currency, which would be USD (US Dollar).
The price of a currency pair represents the amount of quote currency, or USD (US Dollar), that you will need to spend in order to purchase a single unit of EUR (Euro), the base currency. So using the current example you would need to spend 1.183061 of USD (US Dollar) in order to purchase 1 EUR (Euro).
Forex pairs fall into three categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrency trading shares many similarities to forex trading. Specifically the concepts of currency pairs and high price volatility. That being said there are some key differences. Cryptocurrencies don’t operate like fiat currency and many are tied to a project or product. The crypto market is also highly unregulated, which makes it inherently risky compared to trading forex.
Additionally most cryptocurrency trades happen on exchanges. These are generally unregulated and come with a certain degree of risk that many investors would find unacceptable. One alternative is to trade using a CFD broker which allows crypto pairings, but this means you will not directly own and cryptocurrency you buy.