Connect with us

Top Stories

Crypto Exchange To Give Traders an All-in-One Advantage

Published

on

Crypto Exchange To Give Traders an All-in-One Advantage

After entering the market as a peer-to-peer marketplace with wallet support for over 40 altcoins, South-African-based Coindirect has now released an integrated trading exchange. This new tool will give advanced traders everything they need and more to make Coindirect their preferred cryptocurrency trading platform.

Coindirect is aiming to disrupt the financial sector in the Africa region; believing there is an apparent growing demand for cryptocurrency in this market. However, this demand is largely being ignored by most within the industry despite being the second fastest growing economy in the world.

The newly launched exchange will feature a real-time order book, trade history and advanced charting functionality. It has the ability to aggregate the best price for the same coin off multiple exchanges, giving users the best price available. With a simple yet effective user experience for desktop and mobile, placing orders is as easy as you wished it would be. The exchange also comes with a world-class complete API and the team is looking to release even more features in the near future.

Coindirect have also created additional wallet support for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Omni, US Tether (USDT) and ERC20 altcoins. The exchange will feature a series of South African Rand pairs, USD Tether pairs and Crypto pairs for traders to work with.

This advanced exchange has now completed Coindirect’s 3-prong offering, along with their wallet and local peer-to-peer marketplaces. The free wallet feature is a quick and convenient coin convert option, while the marketplace boasts a 0% fee on buying or selling bitcoin.

Jesse Hemson-Struthers, CEO of Coindirect comments: “We’ve always aimed at simplifying user journeys within the cryptocurrency space, and this newly launched exchange means our customers are able to go to Coindirect for whatever their cryptocurrency needs may be. The full-service platform now offers everything from converting fiat currency to bitcoin, to doing daily altcoin trading.”

After a complete rebrand and the recent exchange launch, the Coindirect team has a number of exciting announcements still planned in their pipeline. Each update will be announced on its newly formed Telegram group where the community is able to get an inside track on platform updates and company news.

Coindirect believes that there is exponential opportunities for cryptocurrency to revolutionise the financial sector in Africa and that it is up to those within the region to drive this forward.

Stephen Young, CPO of Coindirect says: “We’ve seen the continent essentially leapfrog traditional banking through newer mobile technologies, making it well placed for widespread adoption of blockchain and cryptocurrency technology. There’s an exciting opportunity to put an open access, secure and private decentralised financial system in the hands of emerging African economies.”

With a well-rounded product that covers numerous elements of the cryptocurrency experience, Coindirect has found a unique niche in a complicated and sometimes crowded space. The platform has made it simple with a single destination for buying, selling, sending, receiving, converting and now trading over 40 altcoins.

Top Stories

UK fishing sector sees more job losses if post-Brexit export troubles not tackled soon

Published

on

UK fishing sector sees more job losses if post-Brexit export troubles not tackled soon 1

By Maytaal Angel

LONDON (Reuters) – Britain could lose more jobs in its fishing sector if the current delays and increased costs involved in exporting to the EU post-Brexit are not ironed out soon, industry groups told British government officials on Tuesday.

Speaking at an Environment, Food and Rural Affairs (EFRA) select committee inquiry, representatives of Britain’s fishing sector said small to medium-sized enterprises were especially at risk and called on the government to urgently negotiate new export rules with the EU.

“(Even) if we get (export) systems sorted, we will still have cost implications. In the medium term, small companies will stop trade to Europe and it may even be their demise,” said Donna Fordyce, chief executive of Seafood Scotland.

“It’s a real worry. These people can’t see a future.”

Under a Brexit deal reached late last year, British trade with the EU remains free of tariffs and quotas. But the establishment of a full customs border means goods must be checked and paperwork filled in, damaging express delivery systems.

Fresh food sectors like fishing and meat have been particularly hard hit, with export paperwork costs soaring and delivery delays prompting EU buyers to reject British produce or to pay less for it.

Sarah Horsfall, co-chief executive of the Shellfish Association of Great Britain, said some British shellfish companies had already shut their doors, buckling under the pressure of the COVID-19 pandemic, and then Brexit.

She said paperwork costs per consignment have increased by 400-600 pounds. On top of that, companies often need to hire two or three extra staff just to fill in the paperwork, adding to costs.

Another point of contention for the British seafood sector is that EU exporters are currently not facing increased costs or delays in sending goods to Britain because the UK has postponed introducing reciprocal customs checks by three to six months.

“Exporters we deal with are considering relocating to the EU. We have to address this urgently if we want to grow, because at the moment we are at the risk of doing the opposite,” said Martyn Youell, senior manager of fisheries and quotas at fishing company Waterdance.

(Reporting by Maytaal Angel; Editing by Sonya Hepinstall)

Continue Reading

Top Stories

Fall in UK economic activity bottoms out in February – PMI

Published

on

Fall in UK economic activity bottoms out in February - PMI 2

LONDON (Reuters) – British economic output stabilised in February after a sharp fall the month before, as many businesses continued to suffer from lockdown restrictions affecting hospitality and other face-to-face services, a closely watched survey showed on Wednesday.

Hours before finance minister Rishi Sunak is due to set out his economic plans for the coming year, the IHS Markit/CIPS composite Purchasing Managers’ Index gave a reading of 49.6 for February, up from an eight-month low of 41.2 in January.

The figure means businesses reported broadly stable activity for last month after a steep deterioration early in the year, and is little changed from an initial flash estimate of 49.8.

The PMI for the services sector alone rose to a four-month high of 49.5 in February from January’s eight-month low of 39.5, again in line with the initial flash estimate.

“Restrictions on travel, leisure and hospitality due to the national lockdown continued to curtail overall activity, but there were some pockets of growth in technology and business services,” financial data company IHS Markit said.

Britain entered its third national coronavirus lockdown in early January, closing schools, non-essential shops and most other businesses open to the public, though people can still travel to work if needed.

Last week Prime Minister Boris Johnson set out a path for easing the lockdown in England as vaccinations roll out rapidly. Schools will reopen next week but full restrictions on hospitality venues will not go until late June at the earliest.

Sunak is expected to set out further spending plans in a budget statement around 1230 GMT after providing almost 300 billion pounds of support during the past year.

Business optimism in the services PMI has risen to its highest since 2006 due to expectations of a return to normality. But many firms still reported difficulties from new, post-Brexit trading restrictions that took effect on Jan. 1.

(Reporting by David Milliken; Editing by Catherine Evans)

Continue Reading

Top Stories

Japan’s SMFG likely to halt all new lending to coal-powered plants, sources say

Published

on

Japan's SMFG likely to halt all new lending to coal-powered plants, sources say 3

By Takashi Umekawa

TOKYO (Reuters) – Japan’s Sumitomo Mitsui Financial Group is likely to halt all new financing to coal-fired power plants, including the most efficient ones, two sources said, reflecting growing pressure from investors and environmentalists on Japan’s lenders to cut funding to coal.

While SMFG has said it would not finance new coal-fired power plants in principle, up until now it hasn’t ruled out funding projects seen as more environmentally friendly, such as so-called “ultra-supercritical (USC) power plants” that burn coal more efficiently than older designs.

It is now likely to remove that exception from its lending policy, meaning a complete halt to new finance for coal plants, said the sources, who declined to be named as the information is not public.

Japan’s biggest banks are under increasing pressure from global investors and environmental groups over their long involvement in funding coal projects. Prime Minister Yoshihide Suga has also pushed to achieve zero greenhouse gas emissions, on a net basis, by 2050.

“It’s a fact that the criticism from environmental groups has become so strong,” said one of the sources.

A spokesman for SMFG said nothing had been decided.

(Reporting by Takashi Umekawa; Editing by David Dolan and Edmund Blair)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Newsletters with Secrets & Analysis. Subscribe Now