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eToro apparently wants to do the same to Coinbase and go public in 2021, if the rumors are to be believed.

The trading platform eToro could go public in 2021. Sources told Cointelegraph that eToro is partnering with the London Stock Exchange’s „Elite“ program in preparation for an initial public offering.

„EToro has no comment on the rumors in the market,“ an eToro representative told Cointelegraph

However, eToro employees shared an article by Israeli media company Calcalist announcing the listing on LinkedIn. The CEO Yoni Assia apparently allowed that.

EToro „seeks an IPO in the second quarter 2021, as the company in 2020 doubled its turnover to 500 million US dollars and has won five million new customers“ as of Tuesday on Calcalist in the article is . „The company is currently in talks with the investment bank Goldman Sachs regarding the execution of the IPO,“ the Calcalist article continued.

Coinbase recently filed an application with the SEC for an IPO in 2021

A number of mainstream financial firms, like MicroStrategy, have started a trend in which institutional companies invest in Bitcoin . The fact that Coinbase wants to go public, as well as the hints of eToro, could lead to further acceptance of cryptocurrencies. Voyager, a platform for brokering digital assets, also went public in Canada earlier this year .

Japanese financial giant SBI Group launches crypto lending service

Posted by admin on 7. Dezember 2020
Posted in Bitcoin 

The Japanese financial giant SBI Group introduced the crypt currency lending service through its subsidiary SBI VC Trade.

According to a press release on 24 November, the new service called VC Trade Lending will initially support bitcoin. SBI plans to add broadcast support (ETH) and XRP in the future.

SBI is one of the largest financial conglomerates in Japan. In early October 2020, the SBI Liquidity Market division acquired the TaoTao crypt currency exchange. SBI acquired the platform shortly after it became known that nine months of TaoTao negotiations with Binance had been completed.

SBI is also a key partner of Ripple, which develops financial products based on XRP. In late October 2020, SBI CEO Yoshitaka Kitao said that Ripple would likely move to Japan if it decided to leave the US.

The Velo Labs cryptoproject, supported by the Stellar team, has entered into a partnership agreement with the giant Visa and Lightnet Group, under which it will create modern payment solutions for credit companies in the Asia-Pacific region.

VELO will be used as a digital asset to provide financial solutions.

Ha last week the Lightnet Group signed a cooperation agreement with a major participant RippleNet SCB.

Three payment companies Velo Labs, Lightnet and Visa signed a memorandum of understanding to create payment solutions in Asia.

They will focus on micro, small and medium enterprises (MSMEs) that operate in the local credit market and do not have access to the global financial network.

According to expert agencies, $5.2 trillion worth of MSME loans are not serviced worldwide each year, more than half of which are currently in the Asia-Pacific region.

People are often denied banks when they ask for a loan to start a business or ask for a large sum to buy, for example, a car, but due to lack of credit history they are denied.

The new joint venture between Velo, Visa and Lightnet Group aims to solve this problem and allow customers to receive loans in exchange for cryptographic collateral. Token VELO will act as collateral for the financial solutions offered to customers.

In this way, companies plan to provide fast and cheap transfers between participating banks, payment companies, etc. As a result, more than one billion people will be able to access the global banking network and its capabilities.

Ha last week, Lightnet Group using Velo signed a partnership agreement with Siam Commercial Bank (SCB), one of Thailand’s largest banks and a major member of RippleNet.

The bank will clear the money transfers made by Lightnet and provide simple, real-time money transfers to Lightnet.