In this week’s editions of Bitcoin in Brief we’ve covered a number of interesting developments in the crypto space. Several prominent exchanges have announced plans to increase their presence in new markets and locations, while a newly launched platform aims to rate them according to their liquidity, security, and volume. The weekly roundup also mentions a $300 million venture fund launched by Andreessen Horowitz, a new crypto vault offering safe storage in Switzerland, a patent promising to prevent the next Mt. Gox, and more.
Also read: Huobi Opens in London, Malta Approves Crypto Bills
Exchanges Moving in and out of Markets
This week saw a number of announcements by major crypto exchanges indicating serious plans for expansion and involving lots of moving in and out of markets. Two leading platforms, Huobi and Coinbase, have confirmed their intentions to open offices at new locations. Huobi, which recently announced it suspended services in Japan, will be setting up a new office in London. Coinbase, which is about to introduce GBP deposits and withdrawals, will open a branch in Portland, on the US West Coast. The US-based exchange also informed its clients it is replacing GDAX with Coinbase Pro.
Kucoin is another trading platform ceasing operations in Japan. The world’s largest exchange by trading volume, Binance, which has also taken steps in the same direction and is moving to Malta, is now eyeing Africa, as well. It is launching a fiat-crypto platform in Uganda, which will be offering zero trading fees for the first month of operation. The Chief Strategy Officer of Bitfinex, the trading platform which shares management with the company that issues Tether (USDT), is leaving his post as the exchange pivots away from the United States.
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