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AlphaPoint launches Yield Platform to power crypto lending, staking and rewards

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Digital asset software company AlphaPoint today announced the launch of the AlphaPoint Yield Platform available for use by marketplace and wallet operators using the company’s technology. Exchange and brokerage operators will have the ability to manage borrowers, lenders, rates, and distributions all on one simple to use platform featuring automated and manual settings and detailed reporting. End-users who leverage the new offering will have the ability to earn a yield on their assets through lending and staking offerings after opting into the service.

Over the previous two years, lending solutions to earn on assets have emerged as the next wave of innovation in the cryptocurrency industry. Total loan origination in cryptocurrencies from leading institutions has exceeded $10 billion and is one of the fastest-growing sectors in the space. A leading centralized cryptocurrency lender saw their outstanding loan book double in Q2 this year as compared to Q1, rising to a sizable $1.4 billion, with new loan originations increasing by more than 300% YoY.[2] This growth is widespread across centralized crypto lending providers.

Furthermore, Decentralized Finance (DeFi) lending has become substantially more popular with active debt increasing almost 10,000% from $22.4 million worth of DeFi loans in Q1 2019 to over $2.3 billion in debt currently outstanding in Q4, 2020. In September 2020 alone, $3 billion of loans have been originated, more than 100x increase from the January 2019 baseline.

The AlphaPoint Yield Platform adds additional functionality to enable its customers to offer their own Yield products to end-users. This solution can be used stand-alone or on top of the company’s white-label products including Exchange, Brokerage, eOTC, Asset Issuance, Wallet, and Liquidity offerings. Properly regulated operators can now offer these solutions with streamlined integration with CeFi and DeFi.

“AlphaPoint customers have served over a million end users, enabling both retail and institutional access to digital assets globally. With this technology upgrade they can now offer attractive yield generating products to provide a fuller suite of financial services to their end-users,” said AlphaPoint Co-founder and CEO Igor Telyatnikov. “Global operators can now deliver a one-stop-shop for trading, liquidity, custody, and yield in their respective markets.”

AlphaPoint Yield Platform features include:

  • Customizable front-end experience for end-users
  • Daily, weekly, monthly, and custom payout options
  • Manual or automatic payment distribution
  • Adjustable integrated operator commissions
  • Advanced management & reporting dashboard

Multiple AlphaPoint customers are taking steps to roll out product offerings leveraging this new technology, including Bitazza, a brokerage platform in Thailand, Coinext, a leading digital asset exchange in Brazil, Cryptosx, a fully licensed STO issuance & secondary trading platform, and NDAX, a Canadian exchange fully-integrated into the country’s national banking system.

“Asset yield optimization will be the norm for DeFi / CeFi platforms, and Bitazza intends to be at the forefront of the global standard,” remarked Kevin Heng, Co-founder of Bitazza.

“The Yield Platform will be a unique solution for the vast number of crypto holders who want to earn yield on their assets. We are excited to be one of the few crypto players in the world to provide this product to our end users”, says Jose Artur Ribeiro, Co-founder, and CEO of Coinext.

“Crypto lending and yield optimization fit naturally into the Cryptosx digital wealth management strategy. This is the natural evolution to increase adoption and migration into the digital asset space,” explained Philip Tam, Co-founder, and CEO of Cryptosx.

“NDAX has partnered up with AlphaPoint to bring another innovative product to the Canadian cryptocurrency space. Canadians will soon be able to earn interest or stake select coins that they hold on the NDAX platform while continuing to enjoy the regulated and secure benefits that NDAX has become known for,” said President & CEO of National Digital Asset Exchange Bilal Hammoud.

In addition to the lending of cryptocurrencies, staking offers investors another means to generate yield on their long-term crypto holdings. However, staking requires a deeper technical understanding and infrastructure than most retail investors can support. AlphaPoint customers will be able to manage staking themselves or work with partners like SMART VALOR to offer staking services and simplify the operation of staking nodes and transaction validation.

“SMART VALOR is one of the first exchanges to offer staking-as-a-service. Since October 2019, our clients enjoy yield on their long-term holdings, while we manage the technical complexity and security,” said SMART VALOR Co-Founder and COO Oliver Feldmeier. “I’m excited about the AlphaPoint Yield Platform and exploring how we can leverage it to make staking accessible to even more investors.”

Source: https://www.cryptoninjas.net/2020/10/30/alphapoint-launches-yield-platform-to-power-crypto-lending-staking-and-rewards/

Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

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The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


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Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

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Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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Huobi Files to Dissolve Chinese Entity Following Recent Cryptocurrency Crackdown

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One of the leading cryptocurrency exchanges, Huobi, has filed to dissolve an entity based in China. This comes as the country escalates its efforts to clamp down on the cryptocurrency industry, in general.

  • Evident in Chinese business registration archives, the entity’s management has filed a Resolution to dissolve On July 22nd, this year.
  • The announcement further reads that “creditors are requested to declare their claims to the liquidation team within 45 days from the announcement date.”
  • Listed as a claim contact person, as well as the head of the liquidation team, is Huobi Group’s founder and CEO, Lin Li.
  • It’s worth noting that Huobi has moved its exchange out of China quite a while back, and it’s unlikely that this will affect its services. As of now, Huobi Group is based in the Seychelles.
  • In any case, the move comes amid a broader crackdown on behalf of China towards the entire cryptocurrency industry.
  • Just this month, China’s Central Bank shut down a company that provides services for cryptocurrency transactions.
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Source: https://cryptopotato.com/huobi-files-to-dissolve-chinese-entity-following-recent-cryptocurrency-crackdown/

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Not Yet: Amazon Denies Rumours on Plans to Accept Bitcoin

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An Amazon spokesperson has said that the earlier reports of the company planning to accept Bitcoin and to investigate the issuance of its own token next year are false.

  • Previously, a report from City AM, citing Amazon insiders, claimed that the world’s leading online retailer plans on accepting Bitcoin and to investigate issuing its own token in 2022.
  • The report went even further, saying that:

This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a fullon, well-discussed, integral part of the future mechanism of how Amazon will work. […] It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.

  • Many in the community questioned the authenticity of the report and the trustworthiness of said insiders.
  • It didn’t take much for the company to come up with an official statement and, unfortunately, to pronounce the City AM report false.

Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.

  • In any case, the news hit the market hard as Bitcoin lost around $2,000 in a matter of minutes. At the time of this writing, BTC trades at $38K after reaching an intraday high at around $40,500.
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Source: https://cryptopotato.com/not-yet-amazon-denies-rumours-on-plans-to-accept-bitcoin/

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