One of the largest banks in Singapore may open a service for storing cryptocurrencies
Singapore's United Overseas Bank, which ranks third among the country's banks in terms of assets under management, may develop its own solution for storing cryptocurrencies, writes The Block.
The bank has opened a vacancy for a "crypto security administrator" who should help him develop a solution for "managing crypto keys". Its tasks include, among other things, the installation of a hardware security module (HSM) and a centralized key management system.
The candidate should have experience in HSM, encryption standards, cryptographic key management and creation, payment network standards, including tokenization. The absence of other related vacancies suggests that the bank's plans are still in the early stages.
Morgan Creek CEO Highlights One Of The Biggest Barriers To Bitcoin
According to Morgan Creek CEO Mark Yusko, traditional institutions are trying in every possible way to slow down the adoption of bitcoin.
The businessman expressed his position on Twitter and noted that opposition from such institutions is one of the main problems for the largest digital currency and the blockchain industry in general.
Yusko is convinced that such a policy of regulators hinders the introduction of innovations. If there is a threat to the traditional financial sector, then officials are always ready to use and use all the tools at their disposal to slow down the introduction of new technologies, said the CEO of Morgan Creek.
Mark Yusko also touched on the topic of Bitcoin volatility. According to him, speculators influence the current price of the coin. However, in the long term, those who stake cryptocurrencies and not speculative activity will still benefit.
The world is entering a qualitatively new system of financial relations. This is actually a paradigm shift, so investors who are inclined to long-term storage of bitcoin will emerge victorious from the confrontation with speculators, Yusko claims.
Binance and Huobi will trade SKL token
The two largest cryptocurrency exchanges today announced their readiness to open trading with their own token of the SKALE Network (SKL) project.
Binance will launch SKL / BTC, SKL / BUSD and SKL / USDT on December 1 at 04:00 UTC. Huobi will also add SKL / USDT, SKL / BTC, and SKL / ETH pairs on December 1, but did not specify the start time for trading, stating that it will open them after receiving sufficient deposits. The trading start date coincides with the first SKL token unlocking.
In September, SKALE raised $ 5 million through a token sale using Ethereum's ConsenSys Ethereum platform Activate, an anti-speculation platform. Investors then prepared for an investment of $ 57 million, but the project could not accept more than the indicated amount due to regulatory restrictions in Liechtenstein, where its developer NODE Foundation is located.
SKALE is a Proof-of-Stake consensus network with the ability to process thousands of transactions per second and low fees. It is compatible with the Ethereum blockchain and will take some of the load off it. The developers claim that more than 50 projects, including representatives of the decentralized finance (DeFi) sphere, are already creating and testing products on their infrastructure. SKALE staking was launched on October 1 and immediately attracted more than $ 78 million in assets.
