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Huobi officially lists Monero [XMR], launched on Huobi Pro

Prerana Sarkar

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Huobi officially lists Monero [XMR], launched on Huobi Pro
Source: Pixabay

Monero [XMR] is officially listed on Huobi Pro, one of the leading digital asset exchanges that is prevalent in over 130 countries today. The deposits have already stated on Huobi Pro from June 7th.

Trading of XMR/BTC and XMR/ETH shall be available at the Main Zone from 4:00 P.M on June 8th, 2018. Monero being a private and secure platform for transactions do not allow any third-party interference. In other words, users will not be able to track your activity or check on your balances.

The Monero platform uses cryptography to provide the benefits of obfuscating the process of sending and receiving addresses, as well as transactions, without any mainstream privacy modifications. It allows faster transactions that are confirmed by distributed consensus and are recorded on the blockchain, meaning, it is regulated by several digital asset users together.

Huobi Pro's Twitter announcement

Huobi Pro’s Twitter announcement

Withdrawals on Huobi Pro will be conducted from June 10th, 4:00 P.M onwards. It is very well noted that investing in digital assets comes with higher risks because of the greater market fluctuations, and therefore, the Monero blockchain promises its users with transactions that cannot be linked to one particular user. Huobi.com as a website aims to make the financial industry more efficient and transactions more accessible to everyone.



Unlike Ethereum and Bitcoin, the Monero community does not have a transparent blockchain and is funded through community donations. It is free and is not constricted by any legal authority with an overall supply of $16.107 million. XMR has witnessed an upsurge of 6.54% in the past seven days, at the time of writing.

Monero recently tweeted:

“Huobi officially lists”





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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects

Altcoins

Rabobank announces plans to drop its crypto-project

Sarvesh Kumar

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Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,



“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.





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