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Crypto gateway exchange service Fasset receives licenses to begin operations in Malaysia

Fasset, a crypto-asset exchange gateway and provider of tokenization services, today announced that it has received three separate full authorizations from the Labuan Financial Services Authority (LFSA), in the Federal Territory of Labuan, Malaysia to commence operations from the country. These licenses represent Fasset’s first full licensing outside of the Middle East. The company already […]

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Fasset, a crypto-asset exchange gateway and provider of tokenization services, today announced that it has received three separate full authorizations from the Labuan Financial Services Authority (LFSA), in the Federal Territory of Labuan, Malaysia to commence operations from the country.

These licenses represent Fasset’s first full licensing outside of the Middle East. The company already has a presence in Bahrain and the UAE, having received authorization from the Central Bank of Bahrain to test its solutions for the tokenization of real assets in the country’s FinTech Regulatory Sandbox.

“We are honored to have received licensing from the LFSA, which itself is a leader in regulating the fintech sector and shaping the digital economy within the region. The reception of these licenses serves as a starting point for Fasset’s expansion in Asia, as we strive to bring new financial opportunities to investors and consumers across the continent. South and Southeast Asia are ripe for digital transformation and disruption, and we plan to play a central role in accelerating the growth of both the digital asset and ESG sectors in both of these regions.”
– Mohammad Raafi Hossain, CEO of Fasset

Labuan

An incubator for some of the most prominent blockchain and digital assets projects, Labuan has established a strategic position for itself within the region, cultivating a thriving emerging technologies landscape in the heart of Southeast Asia. Traditionally known as a hub for investments, banking, oil, and gas, Labuan offers a gateway into the Asia Pacific market.

Established in 1996, the LFSA has promoted and developed the island into an international center for business and financial services—through the support of the LFSA, Labuan has successfully attracted numerous technological and financial innovators to the territory’s shores.

“Labuan serves as a hotbed for innovation within the region, attracting some of the most globally sought-after projects in the emerging technologies space. We are proud to remain a chosen hub for financial and technological innovation for trailblazing firms like Fasset, many of whom elect to base their Southeast Asian operations from our shores. We believe that by supporting these innovative businesses, we not only strengthen Malaysia but Southeast Asia collectively.”
– Farah Jaafar-Crossby, CEO of Labuan IBFC of Malaysia

Source: fasset.com

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoninjas.net/2021/06/07/crypto-gateway-exchange-service-fasset-receives-licenses-to-begin-operations-in-malaysia/

Blockchain

Bitcoin (BTC) Surges Past $40,000 Resistance With High Exchange Outflow, $50,000 Next In Sight

Earlier today, Bitcoin (BTC) finally moved past its crucial resistance of $40,000 levels and is currently trading 2.39% up at a price of $40,350 with a market cap of over $750 billion. As per the on-chain data provider, the Bitcoin price hit its 3-week high and a recent push above $40,000 with a massive exchange

The post Bitcoin (BTC) Surges Past $40,000 Resistance With High Exchange Outflow, $50,000 Next In Sight appeared first on Coingape.

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on

Earlier today, Bitcoin (BTC) finally moved past its crucial resistance of $40,000 levels and is currently trading 2.39% up at a price of $40,350 with a market cap of over $750 billion. As per the on-chain data provider, the Bitcoin price hit its 3-week high and a recent push above $40,000 with a massive exchange outflow. The Bitcoin exchange flow balance turning negative on Monday was certainly a bullish indicator for the world’s largest cryptocurrency.

Bitcoin has been showing bullish momentum over the last few days making investors and analysts hopeful of its journey to the north. Besides, El Salvador making Bitcoin a legal tender has caused a major buzz with more Latin American countries showing interest in joining the bandwagon.

As per market analysts, if Bloomberg manages to move past the 200-DMA above $40,500, it will be setting up itself for its next move to $50,000.

At the same time, Bitcoin (BTC) continues to receive praise and backing from global billionaires. On Monday, June 14, American billionaire and hedge fund manager Paul Tudor Jones showered praised for Bitcoin saying that it serves as a great portfolio diversifier. He also announced a 5% portfolio allocation to Bitcoin.

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MicroStrategy to Sell $1 Billion In Common Stock to Buy Bitcoin

On Monday, June 14, business intelligence firm MicroStrategy made two big announcements. First that it successfully completed the conversion of $500 million worth of corporate bonds due 2028 and the company is mulling to invest this amount in Bitcoin. As of now, MicroStrategy holds more than 92,000 Bitcoins in its treasury with its total investment going past $2.2 billion.

The second news is that the company is now considering the public sale of Class A Common Stock through an open market agreement.

In this filing, the firm wrote: “We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin”.

The firm further noted: “The concentration of our bitcoin holdings enhances the risks inherent in our bitcoin acquisition strategy. Servicing our debt will require a significant amount of cash, and we may not have sufficient cash flow from our business to pay our indebtedness.”

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://coingape.com/bitcoin-btc-surges-past-40000-resistance-high-exchange-outflow-50000-next-sight/

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Blockchain

Bitcoin (BTC) Surges Past $40,000 Resistance With High Exchange Outflow, $50,000 Next In Sight

Earlier today, Bitcoin (BTC) finally moved past its crucial resistance of $40,000 levels and is currently trading 2.39% up at a price of $40,350 with a market cap of over $750 billion. As per the on-chain data provider, the Bitcoin price hit its 3-week high and a recent push above $40,000 with a massive exchange

The post Bitcoin (BTC) Surges Past $40,000 Resistance With High Exchange Outflow, $50,000 Next In Sight appeared first on Coingape.

Published

on

Earlier today, Bitcoin (BTC) finally moved past its crucial resistance of $40,000 levels and is currently trading 2.39% up at a price of $40,350 with a market cap of over $750 billion. As per the on-chain data provider, the Bitcoin price hit its 3-week high and a recent push above $40,000 with a massive exchange outflow. The Bitcoin exchange flow balance turning negative on Monday was certainly a bullish indicator for the world’s largest cryptocurrency.

Bitcoin has been showing bullish momentum over the last few days making investors and analysts hopeful of its journey to the north. Besides, El Salvador making Bitcoin a legal tender has caused a major buzz with more Latin American countries showing interest in joining the bandwagon.

As per market analysts, if Bloomberg manages to move past the 200-DMA above $40,500, it will be setting up itself for its next move to $50,000.

At the same time, Bitcoin (BTC) continues to receive praise and backing from global billionaires. On Monday, June 14, American billionaire and hedge fund manager Paul Tudor Jones showered praised for Bitcoin saying that it serves as a great portfolio diversifier. He also announced a 5% portfolio allocation to Bitcoin.

advertisement

MicroStrategy to Sell $1 Billion In Common Stock to Buy Bitcoin

On Monday, June 14, business intelligence firm MicroStrategy made two big announcements. First that it successfully completed the conversion of $500 million worth of corporate bonds due 2028 and the company is mulling to invest this amount in Bitcoin. As of now, MicroStrategy holds more than 92,000 Bitcoins in its treasury with its total investment going past $2.2 billion.

The second news is that the company is now considering the public sale of Class A Common Stock through an open market agreement.

In this filing, the firm wrote: “We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin”.

The firm further noted: “The concentration of our bitcoin holdings enhances the risks inherent in our bitcoin acquisition strategy. Servicing our debt will require a significant amount of cash, and we may not have sufficient cash flow from our business to pay our indebtedness.”

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

Handpicked Stories

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://coingape.com/bitcoin-btc-surges-past-40000-resistance-high-exchange-outflow-50000-next-sight/

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Blockchain

$1.3M worth of BTC donated to Bitcoin-hodling charity in less than 3 weeks

The Bitcoin Water Trust has already received more than $1.3 million worth of BTC donations despite launching just three weeks ago.

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New York-based non-profit, Charity: water, has received more than $1 million in BTC donations to its Bitcoin Water Trust within three weeks of the trust’s launch.

The Bitcoin Water Trust was announced during the 2021 Bitcoin conference in Miami. The initiative attracted attention for its “HODL MODL” treasury management strategy — with the non-profit accepting donations in Bitcoin that it will not touch until 2025.

According to the charity’s website, a total of 32.5949 BTC has been donated so far, which equates to more than $1.3 million at current prices.

The charity is hoping to leverage the hypothetical gains Bitcoin could make over the coming years. A June 14 blog post from U.S.-based crypto exchange Gemini — which is providing crypto custody services for the trust — asserts that donations received by the charity today could have a much larger impact if held into the future:

“This new charity model — the HODL MODL — creates a new paradigm for charitable giving. It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow.”

Gemini’s founders, Tyler and Cameron Winklevoss have also agreed to match the first 50 Bitcoin donated to the Bitcoin Water Trust.

“We’re thrilled to help a fellow mission-driven organization like Charity: water accept bitcoin and maximize its humanitarian efforts,” the post added.

Charity: water was founded in 2006, with the non-profi working to launch community-owned water projects that provide clean water and sanitation to developing nations. The organization first began accepting Bitcoin donations in 2014.

Related: The rise of crypto charities: Elongate and Munch raise millions for various causes.

Charity has become a popular topic within the crypto industry in recent months after Ethereum co-founder Vitalik Buterin donated billions worth of SHIB tokens that had been airdropped to his wallet by the meme-coin’s creators.

Buterin donated one-tenth of his SHIB holdings to charity after burning the remaining 90% to deter other altcoin developers from airdropping massive quantities of their token’s supply to his wallets for promotion. The India Covid Relief Fund was among the top recipients of Buterin’s dog-token stash, receiving more than $1 billion worth of SHIB.

On May 31, the Human Rights Foundation (HRF) — an organization that supports human rights activism globally — launched several Bitcoin-based grants as part of its $210,000 Bitcoin Development fund.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/1-3m-worth-of-btc-donated-to-bitcoin-hodling-charity-in-less-than-3-weeks

Continue Reading

Blockchain

$1.3M worth of BTC donated to Bitcoin-hodling charity in less than 3 weeks

The Bitcoin Water Trust has already received more than $1.3 million worth of BTC donations despite launching just three weeks ago.

Published

on

New York-based non-profit, Charity: water, has received more than $1 million in BTC donations to its Bitcoin Water Trust within three weeks of the trust’s launch.

The Bitcoin Water Trust was announced during the 2021 Bitcoin conference in Miami. The initiative attracted attention for its “HODL MODL” treasury management strategy — with the non-profit accepting donations in Bitcoin that it will not touch until 2025.

According to the charity’s website, a total of 32.5949 BTC has been donated so far, which equates to more than $1.3 million at current prices.

The charity is hoping to leverage the hypothetical gains Bitcoin could make over the coming years. A June 14 blog post from U.S.-based crypto exchange Gemini — which is providing crypto custody services for the trust — asserts that donations received by the charity today could have a much larger impact if held into the future:

“This new charity model — the HODL MODL — creates a new paradigm for charitable giving. It brings the HODL ethos of Bitcoin to charitable giving, and means your bitcoin donation today could make an even bigger impact tomorrow.”

Gemini’s founders, Tyler and Cameron Winklevoss have also agreed to match the first 50 Bitcoin donated to the Bitcoin Water Trust.

“We’re thrilled to help a fellow mission-driven organization like Charity: water accept bitcoin and maximize its humanitarian efforts,” the post added.

Charity: water was founded in 2006, with the non-profi working to launch community-owned water projects that provide clean water and sanitation to developing nations. The organization first began accepting Bitcoin donations in 2014.

Related: The rise of crypto charities: Elongate and Munch raise millions for various causes.

Charity has become a popular topic within the crypto industry in recent months after Ethereum co-founder Vitalik Buterin donated billions worth of SHIB tokens that had been airdropped to his wallet by the meme-coin’s creators.

Buterin donated one-tenth of his SHIB holdings to charity after burning the remaining 90% to deter other altcoin developers from airdropping massive quantities of their token’s supply to his wallets for promotion. The India Covid Relief Fund was among the top recipients of Buterin’s dog-token stash, receiving more than $1 billion worth of SHIB.

On May 31, the Human Rights Foundation (HRF) — an organization that supports human rights activism globally — launched several Bitcoin-based grants as part of its $210,000 Bitcoin Development fund.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/1-3m-worth-of-btc-donated-to-bitcoin-hodling-charity-in-less-than-3-weeks

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