Connect with us

Blockchain

Calvin Ayre and Bitcoin SV Groups Back Institutional Exchange, DRIVE Markets

Vlad Poptamas

Published

on

Reading Time: 3 minutes

 

DRIVE Markets ($DRV), the institutional crypto and fiat exchange, announced an investment from entrepreneur Calvin Ayre, founder of Ayre Group and CoinGeek. In a bid to entice traders from the $5 trillion forex market, DRIVE Markets has teamed up with forex giants including First Derivatives and MetaTrader to offer a crypto trading experience synonymous with forex trading.

Ayre is a key backer of BSV, through his CoinGeek mining, media and investment operations, and expects the undisclosed investment which is in the multiple seven figures, to provide a significant boost to BSV enterprise usage and transaction volume.

DRIVE Markets recently announced DRIVE Pay, a multi-protocol, real-time remittance and gross settlement network for crypto and fiat currencies. DRIVE Pay will use the BSV blockchain as the anchoring ledger for its payments network and will use BSV coins as a bridge or intermediary currency to enable liquidity.

“At DRIVE, our roadmap leverages the infrastructure and capabilities of our institutional exchange and we were looking for the right solution partner that could scale DRIVE Pay to become a global leader in the multi-trillion dollar payment and settlement space. Bitcoin SV, as a commodity data ledger, makes it the ideal blockchain to anchor DRIVE Pay and the BSV team possess a level of expertise and commitment to enterprise development that really impressed us,” said Kate Hiscox, CEO at DRIVE Markets.

Bitcoin SV emerged from the world’s first Bitcoin “hash war” last November.  Named for the “Satoshi Vision” of Bitcoin’s creator Satoshi Nakamoto, Bitcoin SV restores the original Bitcoin protocol, keeps it stable, and allows it to massively scale.

BSV has the scaling plan necessary to support a global payment network like DRIVE Pay and other enterprise uses.  Just recently, BSV’s blockchain witnessed not one, but two, 128MB record-setting blocks – the world’s largest ever on a public blockchain.  (For comparison, Bitcoin Core [BTC] has a small 1MB block cap).   With 128MB blocks, BSV can handle 800+ transactions per second and proves that massive on-chain scaling works on Bitcoin.  Furthermore, Bitcoin SV is preparing for gigabyte (1000 MB) and eventually terabyte (1 million MB) blocks to process billions of transactions per second and become the global data ledger for business.

CoinGeek founder Calvin Ayre commented:  “I like entrepreneurs who can cut through the noise and focus on technology that works.  That’s why I like DRIVE.  DRIVE recognizes the original Bitcoin vision, now back in the form of Bitcoin SV, works at a massive scale.  I look forward to seeing the DRIVE Pay network process huge amounts of transactions on the BSV blockchain, and further unleash the true power of Bitcoin.”

DRIVE Markets’ CEO Kate Hiscox will attend and speak at the upcoming CoinGeek Toronto conference, May 29-30 at the Carlu in Toronto.  The conference focuses on Bitcoin scaling, with “No Limits”, and will feature the world leaders in blockchain scaling.  At the event, Hiscox will discuss plans for DRIVE Pay and her company’s decision to build the payment network upon BSV.

Ayre’s investment is part of a broader collaboration between DRIVE and the Bitcoin SV ecosystem.  nChain, the global leader in advisory, research, and development of blockchain technologies, will support DRIVE Pay with its technical consulting services and access to its vast intellectual property portfolio.  Along with Ayre’s CoinGeek operations, nChain is another key backer of Bitcoin SV.

Jimmy Nguyen, Founding President of the Bitcoin Association (which advances Bitcoin SV’s global business ecosystem) and Chair of nChain’s Strategic Advisory Board, remarked:

“With DRIVE, the Bitcoin SV ecosystem gets bigger and gets down to some really big business.   From our discussions, it is clear DRIVE Markets sees BSV’s technical value as an enterprise ledger and business value as a regulation-friendly environment.  We invite more companies around the world to study BSV’s technology capability and build on the only massively scalable blockchain – Bitcoin SV.”

 

SOURCE DRIVE Markets

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions by contacting us.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Blockchain

MEDSiS Announces the Launch of “Maxwell” Stablecoin in Brazil, Making it the Second Country and Currency Added to Their Global Ecosystem Within Two Weeks

Vlad Poptamas

Published

on

Maxwell Stablecoin, one of the largest cryptocurrencies ever launched.
Reading Time: 2 minutes

 

In the same week that MEDSiS announced the official advancement of their Maxwell stablecoin in Argentina with their partner WTIA, a second country now officially comes on board toward their global strategy.  With current contracts in Brazil that include more than 10 million individuals immediately, and with plans to incorporate Maxwell as the backing of future contracts into South America’s largest country, Maxwell now adds a second currency to its portfolio and secures itself as one of the largest cryptocurrencies ever launched. In addition, MEDSiS has plans to announce a US partnership, as well as three more countries in Central and South America.

“We’ve been fortunate to have a team and partnerships in Brazil that have weathered the storm and the delays that it’s taken us to get to this point. Our partners in CLASP have been amazing, and it’s finally time that we’ll be able to fully honor the commitments that have been long standing.”
–  Dax Cabrera, CEO of MEDSiS

Though Brazil has not fully endorsed cryptocurrency as an investment mechanism, what Maxwell is bringing to its customers is quite different than the conventional “cryptocurrency”.  Using a stablecoin model, Maxwell will be an added value to the Brazilian customers in which they will automatically be able to participate and take part in a regulated and secured portal to the global economy.

MEDSiS’ Brazil contracts are based on large-scale payment programs, tied to pre-paid payment cards branded by Visa or Mastercard for benefits and other types of government or individual spending. The inclusion of Maxwell provides stability and one issued coin to every customer that registers and begins using the payments platform.  The integration with the multi-currency payments platform, provided by Rijndlepay, is the engine to which the payments can be processed, and the fiat and blockchain based currencies create a regulated ecosystem which will provide consumers with trust and additional incentives to use the program.

“Rijndlpay’s vision is to enable real-time transactions and settlement between all the stakeholders of any payment ecosystem with any currency, be it fiat or crypto or cross border remittances. The platform can scale to about 15,000 transactions per second. We have developed on hybrid technology that can scale to any model that customers and compliance demands of each country.”
–  States Mitish Chitnavis, architect and CEO of Rijndlepay

As one of the newest Unicorn companies in the FinTech space, MEDSiS’ investments will bring their current contracts to date and be able to provide new jobs, new sources of revenue, and stability in the payments platform.

“The MEDSiS platform will usher in a new era of business management and intelligence for our largest Brazilian customer, CLASP,” says MEDSiS co-founder and chairman of the board, Patrick Mulcahy. “Our platform paves a technological highway to access the most advanced business intelligence and security available today and in the future.  And by building it into the financial platform framework of our contracts, we expect our ecosystem will set a new standard for the payments industry.”

In a time of economic uncertainty, MEDSiS and the Maxwell stablecoin currency are stepping up in at least two major markets to be the first wide-scale blockchain currency applied to both public and private contracts.  MEDSiS is currently partnered with CiaGroup in Brazil for card issuance, and is expanding their partnerships to include and absorb other licensed financial entities, setting a new, highly regulated and secure model for the rest of the Americas.

 

SOURCE MEDSiS International

Continue Reading

Blockchain

Blox Survey Indicates Few Crypto Investors Accurately Disclose Assets to Tax Authorities

Vlad Poptamas

Published

on

Reading Time: 2 minutes

 

Blox.io, an industry-leading platform for crypto accounting, management and tracking, has released new research on the challenges faced by crypto holders and CPAs when accurately reporting to regulators. The report, titled “The Crypto CPA Insights Report,” is one of the first in-depth looks at the nascent crypto accounting industry, compiling insights from CPAs on the current hurdles that both individuals and businesses face when tracking and managing digital assets. As the Internal Revenue Service (IRS) begins to crack down, the Blox report suggests that only 5% of CPAs believe their clients – both businesses and individuals – are able to accurately or completely disclose assets and transactions for tax reporting.

However, this lack of disclosure may or may not be wilful, as 98% of the CPAs surveyed stated that missing or inaccurate data was the number one crypto accounting mistake. In addition, almost all stated that a lack of understanding of crypto tax rules was a key challenge, and that more government regulation and guidance was needed to direct prudent clients trying to do the right thing.

Sharon Yip, Founder of Crypto Tax Advisors, said: “If a business created 1,000 transactions per day, to 100 different wallet addresses, for 30 different departments, organizing and searching for those transactions is a needle in a haystack scenario. Relying on exchanges is also a dangerous game. Some only track a few months of transactions, while some shut down completely, leaving investors with no historical records of their transactions. This makes calculating profit and loss almost impossible, and could even lead to legal repercussions.”

CPA respondents also pointed to the lack of access to automated crypto accounting software and limited knowledge about the available crypto software solutions as a key challenge when helping their clients (89%).

Alon Muroch, CEO of Blox, said: “This is an entirely new industry and most investors and CPAs are still learning the ropes. One of the biggest problems is the lack of infrastructure. The more mainstream crypto transactions become, the more smart tracking and management tools become imperative. Human error can have serious implications. It comes as no surprise that most CPAs identified technology as a key component for the future of crypto accounting.”

The report shows 93% of crypto CPAs believe there will be smarter solutions and software in the not-too-distant future, while 81% specifically pointed to the need for increased automation for accurate record keeping and to establish best practices.

Education and policy were also revealed as two key areas for future growth, with 96% of respondents believing that more official rules and guidelines are around the corner, and 72% identifying the need for further education on crypto accounting, best practices, and technological solutions.

 

SOURCE Blox.io

Continue Reading

Blockchain

Content public chain Contentos (COS) listed on Binance, announcing an alliance with global ecological partners to promise long-term value

Vlad Poptamas

Published

on

Reading Time: 2 minutes

 

The content public chain project Contentos (COS) invested by Binance Labs has been launched on the Binance main station and opened COS / USDT, COS / BNB, COS / BTC trading pair recently. Cheetah Mobile, Ontology, LD Capital, Blockshine, Node Capital and LiveMe all expressed their congratulations and support of COS in its longterm value. They believe that blockchain technology will empower the content ecosystem and become a new engine for the evolution of the content industry.

The Contentos (COS) main network will be launched next month (expected 9/25) and now it has reached an eco-cooperation agreement with more than 20 top public chains and Dapp R&D teams around the world such as TomoChain, NEM, Harmony and MixMarvel.

With many years of experience in app product development and operation, Contentos Co-founder and CEO Mick Tsaiand his team reached an eco-strategic cooperation agreement with the photo social platform PhotoGrid, the world-renowned live broadcast platform LiveMe, and the short video Cheez in the early stage of the project. These three platforms have nearly 60 million monthly active users globally, serving as an important traffic foundation for Contentos to build a decentralized content ecosystem.

The photo social platform PhotoGrid will test the COS creation reward mechanism in the Brazilian market in late July. In just 10 days, the number of user-generated photo creations has increased more than 457%, and the number of creators with 500 COS eco-rewards has exceeded 50.

LiveMe cooperates with Yahoo TV and Contentos (COS) to hold a blockchain quiz show together, reaching 15 million global broadcast and attracted imitation from South Korea and Hong Kong market. LiveMe is one of the most popular live broadcast platforms in the US and the Middle East. It has been on the top of the bestsellers’ list for a long time. Its shareholders include Cheetah Mobile and ByteDance (TikTok & toutiao developers).

COS and its strategic partner “Cheetah Mobile” will also cooperate in a variety of product lines. Cheetah Mobile has nearly 600 million worldwide monthly active users. The high-profile and the ratio of light games’ market basis have the potential for development, which is consistent with the long term goal of COS content public chain development.

Mick will continue to accept AMAs in the global community to express his gratitude to users’ support recently. He said: “Launching on Binance is an important milestone for Contentos. It is an affirmation of our efforts, and it also opens a new journey for COS. Markets including VietnamSouth KoreaBrazil, and Russia will all have more exciting and anticipating plans to announce.”

 

SOURCE Contentos

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Business Wire7 hours ago

GRANITE CONSTRUCTION SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Granite Construction Incorporated – GVA

Business Wire10 hours ago

GEICO’s Schneider Elected Assistant Vice President ​

Business Wire11 hours ago

DealerSocket CEO Sejal Pietrzak Ranks Number Seven on Top SaaS CEOs List

IT Industry20 hours ago

UPDATE – ChinaCache Announces Changes to the Composition of the Company’s Board of Directors

Business Wire20 hours ago

Mill Point Capital Completes Carve-Out of Pioneer Transformers

Business Wire21 hours ago

CVS SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against CVS Health Corporation – CVS

Business Wire21 hours ago

JOHNSON & JOHNSON INVESTIGATION UPDATE by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Johnson & Johnson – JNJ

Business Wire21 hours ago

CAPITAL ONE INVESTIGATION INITIATED by Former Louisiana Attorney General:  Kahn Swick & Foti, LLC Investigates the Officers and Directors of Capital One Financial Corporation – COF

Business Wire21 hours ago

ANHEUSER-BUSCH 96 HOUR DEADLINE ALERT: Approximately 96 Hours Remain; Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors of Deadline in Class Action Lawsuit Against Anheuser-Busch InBev SA/NV – BUD

Business Wire21 hours ago

EROS INTERNATIONAL 96 HOUR DEADLINE ALERT: Approximately 96 Hours Remain; Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Eros International

Follow our Tweets

Trending

Please turn AdBlock off