NEWS ROUNDUP: 02/04/19

Let the world know

              1.Coincheck (Japanese cryptoexchange) Launches Bitcoin OTC Desk

              2.RippleNet For Cross-border Remittance now joined hands with Federal Bank(Indian private bank).


1.Coincheck (Japanese cryptoexchange) Launches Bitcoin OTC Desk

Japanese cryptocurrency exchange coincheck has announced the launch of a Bitcoin over-the-counter (OTC)  trading service for large-scale. As announced in their official website(Jp).



The customers will be able to buy and sell large volumes of Bitcoin. The starting limit has been set from 50 BTC. OTC trading service is a service that allows you to buy and sell virtual currencies at attractive prices for large-scale customers.


The report says that OTC Trading will be available duting Monday and Friday from 10:00 – 15:00 (JST).  Coincheck app or API trading are not eligible for use. the service has been introduced to help large scale customers to buy and sell BTC quickly and smoothly. Coincheck also clarified that the overtime trading services along with trading using its app or application program interface (API) will not be eligible for OTC services.


Company has also published some important points to remember while dealing with virtual currency-

  • Virtual currency is different from legal currency, and its value is not guaranteed by countries/Central bank of country.
  • The virtual currency may lose its value due to the failure of the transfer record/database system.
  • Because the price of the virtual currency fluctuates, losses may occur.
  • If the company goes bankrupt, it may not be possible to return the deposited money and virtual currency.
  • When dealings, please fully understand the contents of the transaction and do it at your own risk.
  • Please check the “Coincheck Virtual Currency Trading Manual” and “Coincheck Terms of Use” for other important matters and transaction details.


2. RippleNet For Cross-border Remittance now joined hands with Federal Bank(Indian private bank).

India’s Federal Bank(its not central bank of India but a private bank) has partnered with Ripple to use its network for cross-border remittances. The bank filed the information  in a letter on March 28 to Bombay Stock Exchange( A mumbai based oldest stock exchange of country).

ripplenet and federal bank


This private Bank joins rank of four other Indian banks that already have joined RippleNet in the last two years – Kotak Mahindra Bank, IndusInd Bank, Axis bank and Yes Bank.


According to declaration  of Bank This partnership will assist Federal Bank with exploring new corridors where Ripple is aggressively pursuing new partnerships. The agreements for partnership was signed after a meeting between Mr. Shyam Srinivasan, Federal Bank MD &CEO and Mr. John Mitchell, Senior Vice President Ripple Inc.


About RippleNet

RippleNet is a single entity that is  a network of banks that execute transactions via Ripple’s distributed blockchain technology. It has recently expanded its reach to over 40 nations and 6 continents. It gives  end-to-end tracking of the entire cross-border payments transaction between RippleNet members on blockchain.


RippleNet makes it easy to connect and transact across its robust network of 200+ banks and payment providers worldwide.“RippleNet provides a single platform to quickly introduce new corridors, offer lower fees and faster transaction times — all while reducing operational overhead.

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