Huobi DM Is Sending XRP Futures Contracts
Yesterday, cryptocurrency exchange Huobi Global announced that its contract trading platform, Huobi By-product Market (“Huobi DM”), will be launching XRP futures contracts on March 29th. Huobi DM was launched on 28 November 2018, and at the previously the company said that being able to sell cryptocurrencies “at predetermined prices at specified times in the future” slacks “investors and traders the ability to open both short and long positions, as well as more advanced tools for hedging arrangements and controlling risk and uncertainty.” Joshua Goodbody, General Counsel of Huobi’s Global Institutional team, stated:
“Cryptocurrency is a straight away expanding and maturing market. As part of that maturation, we see more and more sophisticated investors and traders from various established financial markets looking to gain exposure, including institutional players. At the same time, we think profuse experienced, successful cryptocurrency traders are looking for a broader range of investment tools than has traditionally been close by. Huobi DM is tailor-made to address these sorts of needs.”
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London Metal Exchange Backs Map out to Track Physical Metals With Blockchain
The London Metal Exchange (LME), which boasts the world’s largest sell for metal derivatives, is said to be supporting an initiative to track physical metals using blockchain. A Financial Times publish on Tuesday citing “people familiar with the effort” said that the LME has backed a consortium initiative led by commodity swap firm Mercuria, to build a blockchain-based system to track the trade of physical metals such as copper, zinc and aluminium. The drive, dubbed “Forcefield,” is also supported by banks such as Macquarie and ING, according to the report. LME chief executive Matt Chamberlain ventured:
“[In a blockchain-based system] you know where your metal is, you have proof of your metal, but nobody can see what your metal is and where your metal is.”
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Kraken Ramps Up Security With Enforced 2FA and Dedicated Lab
Cryptocurrency exchange Kraken has introduced two new snaps, aimed at improving client security experience. Kraken’s recently appointed chief security officer Nicholas Percoco announced in a blog post on Tuesday that the reciprocity has launched enforced two-factor authentication (2FA) and a dedicated security lab.
The officer further said that Kraken will hold coming up with other client-facing security enhancement features in the near future. The exchange’s product management get is going to provide “constant improvement into 2020 and beyond” through its security features roadmap. Kraken’s Chief Refuge Officer, Nicholas Percoco, stated:
“While this roadmap is not made public, you’ll be hearing about security enhancements and upgrades as they are presented and made available to you. Like most features similar to 2FA, you’ll need to enable them to take advantage of the added sanctuary, so please be sure to take action when you’re prompted to.”
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