On 4th September, Wirex, a platform for users to manage digital assets as well as traditional currency announced its support for the 2nd largest cryptocurrency, Ethereum [ETH]. Ethereum has been added to the Wirex portfolio of cryptocurrencies and an Ethereum wallet for the same will be available for the users.
Currently, the users can convert their ETH to GBP, EUR and USD for in-store spending or paying online via Wirex payment card. Wirex, in its official announcement also wrote about the new things that can be done with the ETH wallet on its platform. Some of them are, selling, exchanging and depositing ETH via the app, exchanging altcoins and initiating free cryptocurrency transactions among Wirex users.
Additionally, the blog discussed Ethereum’s defining feature, smart contracts, stating that they facilitate developers to create and run decentralized applications. Smart contracts self-execute themselves distinguishing themselves from the traditional contracts.
Subsequently, Wirex mentioned Decentralized Autonomous Organizations [DAO] that are backed by smart contracts on blockchains similar to Ethereum. The DAO, as called by the community, was developed as a venture capital arm for the decentralized cryptocurrency space. However, it faced a loss of about 3.6 million ETH [=$70 million, then] during a hacking attack in June 2016.
The Ethereum blockchain is also associated with an alliance called the Enterprise Ethereum Alliance [EEA], which was formed as a way of networking for industry institutions such as startups, academia, technology vendors and even Fortune 500 companies. Some of the big companies involved in this alliance are CME Group, Infosys, Ernst & Young. Intel, J.P.Morgan, Shell, Accenture, among others.
The aim of the EEA was to work on the cost for local customers, introduce interoperability into the ecosystem, launch support from multiple vendors and suchlike.
A Twitter handle named Chocolate Lover, who is also a Wirex and ETH user on the announcement commented:
“Not showing in the app yet. Any idea when it will be live?”
To support the query, Wirex replied suggesting a solution. It said:
“Have you tried refreshing your App updates? It comes up after you scroll your finger down from the top to refresh. Hope that helps!”
The thread continued when the same user replied back, stating:
“Not sure if you mean when in the Play store or in the app itself but I have tried both and I can’t swipe down, or at least when I do nothing happens.”
Post this, the two parties took to direct messaging as mentioned in the comments.
Subscribe to AMBCrypto’s Newsletter
Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets
Grayscale Investments, a digital asset management firm, made an announcement with regard to the second largest cryptocurrency in the market, Ethereum. The platform stated that the Financial Industry Regulatory Authority [FINRA] approved its Ethereum Trust, ETHE, making it the third publicly quoted investment product. The other two publicly quoted investment products are Grayscale Bitcoin Trust [OTCQX: GBTC] and Grayscale Ethereum Classic Trust [OTCQX: ETCG].
Grayscale Investments stated on Twitter,
“Our team continues to bring new opportunities for investors to gain exposure to digital currencies. We’re pleased to share that Grayscale Ethereum Trust received FINRA approval for a public quotation on
@OTCMarkets under symbol: $ETHE* https://gryscl.co/2M4wVER (1/2)”
In a blog post, the platform stated that each Share of ETHE would be equivalent to 0.09662399 Ethereum, as of 30th April 2019. Further, the asset management firm also stated that the Ethereum in each share would decrease over a period of time as ETHE would not “generate income” and the Ethereum would be “regularly distributed” to clear-out expenses.
It further stated,
“There will be no trading volume in the Shares’ public quotation until the Shares are DTC eligible, which ETHE is expected to receive soon. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on the OTC Markets website once trading commences. “
The ‘announcement of this announcement’ was made yesterday by Barry Silbert, the CEO of Digital Currency Group, thereby creating a buzz. Barry Silbert had stated on Twitter,
@GrayscaleInvest for some big news at 9 am NY time tomorrow. Announcing an announcement (yeah, that’s how I roll)”
To add on, the firm had recently launched the #DropGold initiative, with its main focus being prompting investors to invest in the digital gold, Bitcoin. The firm had stated,
“Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold. […] Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold.
Subscribe to AMBCrypto’s Newsletter
Binance CEO CZ accused of causing ‘pump and dump’ by prominent trader after being blocked on Twitter
Ethereum [ETH] and Tron [TRX] Price Analysis: Coins suffer as bears push bulls aside
Bitcoin [BTC]: Strongest reason for price rise is evolution of different players coming in, says ErisX CEO
HitBTC insolvency brought into question as new research points to red flags
OKEx provides new futures trading upgrade for XRP, Bitcoin Cash [BCH] and Litecoin [LTC]
Tron [TRX] announces future trading on OKEx platform from May 20
Bitcoin’s [BTC] Lightning Network is awesome, says Blockstream’s Samson Mow
Crypto is replacing the US Dollar and no one seems to be noticing, claims prominent investor Robert Kiyosaki
Coinbase extends XRP trading access to New York users; coin pumps by 22%
Litecoin [LTC] bought at $100k on Binance when coin was trading at $90
XRP/Ripple: R3’s Corda to further partnership with credit-union centric CULedger
Bitcoin? Bitcoin Cash? Bitcoin Satoshi’s Vision? Will the real Bitcoin please stand up?
Bitcoin SV drops by a massive 24% in an hour after Bitcoin whitepaper patent backlash
Ripple executive elected to United States Faster Payment Council’s Board of Directors