In recent news pertaining to cryptocurrency exchanges, Glen Oaks Escrow has announced that it has partnered with Bitpay to support cryptocurrency payments and Binance has revealed that it will delist Bytecoin, Chatcoin Iconomi and Triggers next month. Etoro, meanwhile, has announced a “significant cut” in the spreads on cryptocurrency markets on its platform.
Also Read: Korean Crypto Exchange Sued for Controversial Token Schemes
Glen Oaks Escrow to Back Crypto
Payments Through Bitpay
California-based escrow company, Glen Oaks Escrow, has announced that it now supports cryptocurrencies under a new partnership with Bitpay. The company states that the increased prevalence of real estate listings that accept cryptocurrency as payment as the principal motivation behind the decision.
Joe Curtis, Glen Oaks’ chief operating officer, stated: “Increasingly, blockchain and cryptocurrencies have the potential to become a bigger part of real estate transactions, and this is one step to be ahead of the curve and enable transactions to happen through this vehicle (…) It’s still a young technology in our space, but we are committed to being at the forefront to enable transactions in this way.”
The partnership will see Bitpay convert escrowed cryptocurrencies into cash, before wiring funds into escrow accounts, meaning that the seller in a transaction will not handle any cryptocurrencies.
Binance Delists BCN, CHAT, ICN and TRIG
Binance has announced that it will soon delist Bytecoin (BCN), Chatcoin (Chat), Iconomi (ICN) and Triggers (TRG) at 10 a.m. UTC on Nov. 12.
The announcement states that said altcoins have failed to meet the exchange’s criteria for continued support, including the “commitment of (a) team to (its) project,” the “quality and level of development activity,” “network/smart contract stability,” the “level of public communication and activity,” the “responsiveness (of the team) to (Binance’s) periodic due diligence,” whether a coin “contribut(es) to a healthy and sustainable crypto ecosystem,” and whether a coin evidences “unethical/fraudulent conduct.”
Etoro Reduces Crypto Spreads
Etoro, an asset brokerage and social trading platform, has announced a “significant cut in (the) spread on cryptoassets,” describing the move as “part of its ongoing efforts to increase awareness of the potential of crypto and blockchain broadly.” The company claims that the spreads on BTC have been “cut by more than half.”
The co-founder and chief executive officer of Etoro, Yoni Assia, stated: “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.”
Assia continued: “Over and over again we see headlines announcing the end of crypto, yet in reality we continue to see interest in and demand for these assets. The huge price rally at the end of 2017 brought crypto to the attention of the masses and thrust these infant tech companies into the spotlight. Since then prices have stabilized and the crypto industry has had the chance to catch its breath. It has used this opportunity to engage with and educate regulators and participants across traditional finance services as to the opportunities offered by crypto and blockchain more broadly. At eToro, we welcome appropriate regulation for crypto and believe that it will accelerate mass adoption.”
“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,” he concluded.
Do you think that more escrow companies will soon support cryptocurrencies? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Glen Oaks Escrow, Etoro
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