Recent news from global cryptocurrency exchange Huobi has seen the platform announce user support for the Russian Ruble (RUB). This latest development will mean that Huobi users can now withdraw and deposit in Russian Rubles. This is, of course, great news for the long-term success of the exchange itself and also users there who have been waiting for RUB support on the platform.

This is not the only new announcement made by the company though. They have also released details of users now being eligible to buy top digital currencies, such as BTC, LTC, ETH, BCH and DASH with Rubles. These new innovations will work in conjunction with AdvCash, which is one of the most respected payment solutions around in the crypto world.

RUB deposits and withdrawals in Huobi – how does it work?

Huobi Global has confirmed that both crypto buying and RUB deposits/withdrawals will be conducted through AdvCash wallets moving forward. This will come with a minimum deposit/withdrawal limit of 200 RUB for users. There has also been a maximum limit introduced for deposits of 100,000 RUB and 50,000 RUB for withdrawals.

It seems that the process of making transactions in RUB via AdvCash wallets on Huobi will be pretty simple. Users will be asked to provide identification details first, which will then be verified by AdvCash. People will then simply log into their Huobi Global Account and find the ‘Deposit-Exchange’ option under ‘Balances’. Once there, you would just find ‘RUB’ on the list of eligible currencies to fund your account with them.

Verification of KYC also needed

At this point in the process, users will also have to complete and submit their KYC for verification, if not done already. When this is all sorted, you can then choose ‘AdvCash Balance’ as your method of payment and choose how much you want to deposit. You then choose ‘Pay’ and get sent to the AdvCash platform where you set up an account or log in to continue.

After this, the whole payment procedure can be finished by using any of the options in your wallet. Once the payment is completed, you will be sent back to the ‘Deposit’ page and be able to carry on using Huobi Global as usual. Security is assured as all transactions made to and from your Huobi account are recorded.

Special RUB promotion period

Those who decide to use RUB in the current promotion period can save 0.99% on deposit fees and 2.49% on fees for withdrawals. It is also expected that Huobi Global’s decision to bring RUB into their platform will pave the way for other FIAT currencies to follow.

Source: Pressat

Huobi Futures has announced its latest offering that looks to take advantage of the ever-growing and popularizing stablecoin market with USDT-Margined Swaps on Oct. 26. Ten popular currencies including BTC, ETH, BCH, BSV, LINK, DOT, UNI, FIL, YFI, and BNB are listed in its first batch. Based on Huobi’s announcement, currently only Web and API are available; trading on APP will be supported around one week later.

The total market capitalization of stablecoins has grown from $2.6 billion at the start of 2019 to $20 billion by late September of 2020. Tether (USDT), at $16 billion, leads the way. The data indicates a clear desire and hunger to use stablecoins for the transfer of value across the cryptocurrency space, and offering a stablecoin-margined swap at this time can provide new benefits to traders. In Huobi USDT-margined swaps trading, users can trade various perpetual swaps with only USDT.

Huobi USDT-margined swaps are quoted in USDT and use USDT to calculate profit and loss. USDT-margined swaps have a linear payoff and have no delivery date; therefore users could hold positions no matter how long they want as long as no liquidation occurs. USDT-margined swaps are settled every 8 hours and are executed at 00:00, 8:00 and 16:00(GMT+8). In addition to gaining profits in a rising or falling market by opening a long or a short position, users could also use it for hedging. The following part analyzes the main features and advantages of Huobi USDT-margined swaps.

Low-par value and up to 125x leverage

Compared with coin-margined swaps, the contract face value of USDT-margined swaps is relatively low. For example, the face value of each BTC/USDT swaps contract is 0.001 BTC, the converted value of which is around 12 USDT; while for coin-margined swaps, the face value of each BTC/USD swaps contract is 100 USD. Besides, the platform provides 1x to125x leverage to lower the threshold for traders, users could adjust the leverage based on their actual needs.

Preferential fee rate

The fee rate structure on Huobi Futures is transparent. The platform only charges transaction fees for opening and closing positions. During the promotion period, the lowest transaction fee rate for Maker is -0.025% and for Taker is 0.026%. Huobi will continue to execute its VIP sharing program for USDT-margined swaps.

A good news is that, for users who are a VIP client or a market maker of both Huobi futures and coin-margined swaps, the platform will take the higher one as their VIP level of Huobi USDT-margined swaps during the promotionn period. Assume a user’s level on Huobi futures is VIP 3 while on Huobi coin-margined swaps is VIP5, the system will take VIP 5 as his level on Huobi USDT-margined swaps.

Diversified functions

In terms of trading functions, Huobi USDT-margined Swaps supports multiple order types including Limit Order, Trigger Order, IOC and FOK. There are also many functions like Flash Close, Follow a Maker & Taker available.

It’s worth mentioning that Huobi is a pioneer in the industry that uses a locked margin optimization function. With this function, users who hold both long and short positions for the same asset could enjoy a position margin reduction and therefore lower liquidation risks than that in other derivatives platforms.

Moreover, Huobi USDT-margined Swaps offers “Take profit & Stop loss” functions. Users could set in advance not only based on price, but also on profit rate.

Excellent Liquidity and Zero Clawback Record

The USDT-margined Swaps is designed by the original team of Huobi Futures whose core members were all from top investment banks. Huobi Futures has rich experience in derivative product modeling and system construction, at which users could enjoy the best liquidity and the highest trading volume.

The platform has various methods to protect users’ assets, such as cold and hot wallets separation, multi-signatures, anti-DDOS protection systems, and 20,000 BTC security funds preparation, which makes the company holding a record of zero clawbacks since the launch in December of 2018.

User-friendly liquidation mechanism

Huobi Futures is the first digital asset derivatives exchange in the industry that supports a three-phase liquidation protection mechanism; no transaction fees will be charged in partial liquidation. The platform uses Exponential Moving Average (EMA) as a second reference for forced liquidation and the clawback mechanism will not be triggered as long as the insurance fund is positive.

USDT-margined swaps are the latest product offered by Huobi, following on from the extremely successful launch of Coin-margined Swaps in March this year, and Options a few months later. Huobi’s Futures team has ingrained itself as one of the leaders in the space as the team leans on previous experience at investment banks.

“We are well aware of the growth in the stablecoin market and the amount of money that has been added to the ecosystem and want people to be able to make use of that. In countering the risk of USDT price fluctuations, we also offer USDT/USD swaps with leverage up to 1000x. In this one-stop digital asset derivatives platform, we provide USDT-margined swaps, coin-margined swaps, coin-margined futures and USDT-quoted options to satisfy the diverse needs of individual and institutional traders.” said Ciara Sun, Head of Global Business and Markets and Vice President Huobi.

Source (pressat)

Kazakhstan-based mining provider Xive announced mining capacities empowerment and the launch of an updated site on the 9th of July. On xive.io website you can buy a fast mining contract starting from $4.55, pre-order mining powers or even become a partner of the company by filling out an application for the equity purchase.

Besides hashpower sharing, Xive offers its clients mining hardware accommodation starting from $0.042 per kWh.

For its clients Xive offers low upkeep costs, customer support and real-time hardware monitoring. Also, company claims to have the most transparent legal conditions on the market.

“We work legally and value our reputation. Therefore, we provide the highest level of service to our customers.” – stated Didar Bekbauov, founder of Xive.

Learning platform Xive Academy includes a set of educational articles on the company website and a series of free webinars, dedicated to the basics of mining and cryptocurrencies. The first webinar is intended for beginners, but it will also be useful for more experienced users to systematize knowledge and look at mining and cryptocurrencies from a different point of view.

14th of July at 4 PM UTC – “Mining secrets 2020” online webinar will take place. More information and a registration form can be found by link.

About Xive

Xive is an officially registered Kazakhstan-based mining provider that offers remote mining and hardware accommodation services. The company was founded in 2018 as a part of Astana Hub – government-supported international techno hub. Company owns and manages three datacenters and develops real-time hardware monitoring software. In the near future Xive plans to launch hashpower marketplace and own mining pool. Among company services there are hashpower pre-order, fast mining contracts purchase and hardware accommodation.

Banxa, a full-service, internationally compliant digital banking infrastructure provider, announced it has completed its USD$2 million Pre-IPO investment round. The round was led by OK Group, a world-leading blockchain technology and service provider focused on the research and development of the technology and its all-scenario applications..

The funding round will be used to support Banxa’s global expansion efforts as it enters new markets throughout Europe, Asia, and Africa. Other participating investors in the raise include Australian Securities Exchange (ASX), and listed Thorney Investment Group Australia, a multi-billion-dollar family office.

This Pre-IPO funding round supports further efforts of onboarding new customers as Banxa expands its global payment network all the while continuing its listing process on the Toronto Stock Exchange (TSX.V).

Representative from the Investment Department of OK Group Estrella Du said, “A blockchain-driven economy can enable everyone to access financial services without any intermediary, ultimately empowering people, regardless of social class and geographical location, with financial freedom and opportunities. To this end, building a bridge between fiat and crypto is of paramount importance. We sincerely hope our investment will be a catalyst for such development.”

Domenic Carosa, Founder and Chairman of Banxa said, “After almost six years in the blockchain industry, our goal remains the same––to champion a fairer, more open and more secure financial system for the benefit of consumers and businesses alike. We are currently in the final stages of a TSX.V listing which will make Banxa the first crypto Payment Service Provider (PSP) to be listed in the world, bringing well-needed transparency and governance to the crypto sector.”

Banxa offers a fully compliant fiat-to-crypto conversion service that provides regulatory compliance, fraud detection and mitigation. Accommodating a host of global payment options including leading global credit card providers, bank transfers in the European Union, Australia, and the United Kingdom, as well as cash payments, Banxa is able to offer high volume payment processing at low fees. Banxa’s B2B service launched in late 2019 and has already seen integrations with global crypto firms including OK Group entities , Binance, KuCoin, and EDGE Wallet, servicing a combined customer base of over 20 million users.

The world’s first and only cryptocurrency exchange with the Any2Any technology has successfully completed beta testing of the third version of the quantum trading core with a built-in liquidity flow that will completely change the notion of exchange trading.

Surprisingly, all modern exchanges, like hundreds of years ago, still use fixed trading pairs, which are in no way connected at the level of the trading core and the order matching system. Each orderbook only contains orders placed in a specific pair. Although hundreds of cryptocurrencies have emerged, you won’t be able to directly exchange one for another on an exchange, where prices are set by the users themselves – you will need to change it first into one of two or three “base currencies” supported by the exchange, and then transfer it to another, or use the services of exchangers, arbitrageurs, thus having to pay increased fees.

The result of three years of development by the 50x.com team was an innovative trading core based on cloud technology and quantum principles for combining orders: although the concepts of a trading pair are preserved at the user level and the interface is completely identical to a regular exchange, all orders inside the core exist in a single space and do not have a firm connection between a seller and a buyer, combining the maximum number of orders in all trading assets simultaneously.

According to the developers themselves, it is impossible to confidently predict the progress of execution after another order has been added, since any new order adds liquidity to a part of the system, thereby changing its state and topology. The same effect is observed in quantum physics, where the presence of an observer changes the results of an experiment. Users only benefit from this, as the system often finds more profitable options while executing another order.

The benefits of using the new Any2Any technology are immediately visible: one order in a trading pair immediately creates the same liquidity in all trading pairs containing this token. That is, one user can place an order to buy DASH for Bitcoins, while all others get the opportunity to sell DASH for any of the currencies listed on the exchange.

The old separated “markets” technology incessantly bumped into traditional problems that were noticeable even on national stock exchanges, i.e. a lack of liquidity in most instruments and its concentration in “blue chips”, which led to a decrease in trading opportunities. Cross-rate trading with more often observable strong movements on which one can quickly earn money, was reserved for advanced arbitrageurs boasting their own trading robots. There were also infrastructural restrictions, making it economically impossible to support a large number of orderbooks.

The 50x.com exchange offers a completely different approach to trading, where hundreds and thousands of cross-rates are available to every user right in the terminal. Thanks to the Any2Any liquidity overflow technology, you can choose any pair from the assets available on the exchange and trade in it. Whereas, orders placed, for example, in the DASH/QTUM orderbook, will automatically appear in all other DASH/* */DASH and QTUM/* */ QTUM orderbooks. And this will lead to the fact that even the most exotic orderbook will collect the entire liquidity for the coins of this trading pair.

How does it benefit trading?

The first and obvious benefit is the possibility of direct trading between coins, without paying double commissions. If you want to switch from DASH to QTUM, you simply place an order in an orderbook of DASH/QTUM. This is much faster than selling DASH first and then buying QTUM. And most importantly, you only make 1 order, and, therefore, pay the trading commission only once.

The second advantage is the ability to view orderbooks/charts in exotic pairs and, accordingly, a huge number of new trading tools, whose rates often go in wider channels than the main instruments. That means they have a greater profit potential.

The third advantage is a multiple increase in liquidity for each coin. Since the entire liquidity of the exchange is summed up across the coins, no matter what pair the orders are in, the liquidity will be available in other pairs as well. This makes manipulating rates much more difficult.

How is this possible?

The fact is that the 50x.com exchange has developed a trading core of a unique architecture that operates with entire transaction graphs, rather than with single orders. This allows you to reduce hundreds and thousands of cross-orders in different currencies within one transaction and create cross-orders.

Why is there no such thing on other exchanges?

The architecture of the Any2Any core is fundamentally different from standard trading cores and required numerous innovative solutions during its creation. Regular exchanges cannot switch to Any to Any technology without completely changing the very basis – the trading core.

Other major exchanges have also attempted to create Any2Any technology, but only one development team has managed to create a truly working product today.

You can try trading with the new technology at 50x.com now – no KYC required.

CEDEX Holdings Limited (“CEDEX”) and U2 Diamonds (“U2”) have entered into a joint venture to support issuers that are looking to issue the first diamond ETF. 

CEDEX is a global, digital diamond exchange, focused on transforming diamonds into a new financial asset class. CEDEX developed a unique proprietary technology called the DEX, and combined with blockchain, provides a diamond spot price feed and gives investors the ability to trade in individual diamonds as a financial asset.

U2, through its subsidiary U2 Diamond Prices, is regulated in the UK by the FCA as an EU Benchmark Administrator.  U2 uses prices from arms’ length transactions in the wholesale diamond market to publish investable diamond indices that can be used to link to financial products.

The joint venture creates clarity and certainty to the market by providing price point transparency and combining DEX technology with the FCA regulated indices of U2. This breakthrough in regulatory approval for financial diamond indices, alongside CEDEX’s technology, will allow institutions to generate financial contracts and instruments with appropriately-priced underlying assets linked to them – making a diamond ETF achievable. With only 1% of the current value of the diamond market being used for financial investment, the JV creates the opportunity to develop diamond linked products as a non-correlated alternative asset class for investment and preservation of wealth similar to the way precious metals are used as a safe haven by investors.

In addition, the joint venture will undertake the following:

• Marketing of polished diamond indices to ETF and Future issuers.
• Enhance the Advanced Diamond Index accuracy based on the CEDEX proprietary algorithm DEX price feed.
• Will jointly promote and market advanced diamond Indices to market participants.

Eventually, CEDEX plans to build a complete and regulated ecosystem that digitalizes diamonds as financial assets accessible to the global financial market.

Saar Levi, CEDEX CEO, said:

“This is a unique and exciting opportunity for CEDEX. The partnership with U2 Diamonds unlocks an exciting new development, not only for the diamond market, but for the global financial market as a whole. An FCA-regulated diamond index coupled with the DEX creates the infrastructure for a new financial asset class. This infrastructure with the increased security and efficiency the blockchain offers, will not only allow diamond holders to liquidate their assets at a fair price thanks to CEDEX’s price feed, but financial institutions will be able to trade diamonds at low carry cost and with a diversified risk profile that matches their trading strategies.

“We have connected to diamond suppliers and listed already over $100 million worth of diamonds on our platform. We are currently in talks with tier 1 & 2 ETF and Futures Issuers, Index Providers, Market Makers, Authorized Participants (APs), banks, exchanges and other financial institutions.”