LakeBTC Exchange Lets Users Bypass Bank Transfers with Ripple
Shanghai-based exchange LakeBTC says it has taken a step towards bypassing the delays and costs associated with international transfers by becoming a Ripple gateway. Previously, users around the world wired fiat money to LakeBTC's account directly. However, they may now deposit funds with a Ripple gateway in their local area in any currency, and transfer it to a LakeBTC USD account via the Ripple network instead. The same applies to withdrawals. CEO Thomas Xie told CoinDesk the decision to add the Ripple network transfer option was the result of customer demand and a dissatisfaction with....
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Cryptocurrency exchange LakeBTC has enabled GBP and JPY deposits and added the option for customers to trade with the two currencies. LakeBTC users can deposit GBP via a UK bank transfer, while JPY deposits can be made via a Japanese domestic bank transfer. A spokesperson for the China-based exchange, currently ninth in terms of BTC/USD ($1,536,570) trading volume in the last 24 hours, said they were in the process of adding EUR deposits and BTC/EUR trading and hoped to enable the features in the next couple of weeks. According to the spokesperson, the exchange is also looking to enable....
We sat down with LakeBTC recently to find out what it was they were working on - here's what we spoke about... First of all, tells little bit about what LakeBTC is all about. LakeBTC: LakeBTC was started in March 2013 as a bitcoin exchange. The founding team came from financial industries and most of our early users were seasoned traders and other financial professionals from prop and flow desks of hedge funds, investment banks, and commercial banks. The years of experience trading bonds, currencies, commodities, equities, and all types of derivatives and structured products helped us....
LakeBTC, a bitcoin exchange company based in China, is now open for GBP and JPY deposits on its cryptocurrency platform. This move could open the company for more client accounts based in the UK and Japan, where bitcoin acceptance has also been increasing. In particular, clients can make a GBP deposit on LakeBTC through a UK bank transfer while JPY deposits on the bitcoin exchange will be accepted through a Japanese domestic bank transfer. Larger Bitcoin Exchange Market. According to a spokesperson for the bitcoin exchange, they are also working on adding EUR deposits and EUR/BTC trading....
Ripple Labs CEO Chris Larsen sent the digital currency community buzzing this week when he tweeted that Ripple Labs is working with Western Union on real-time payment settlements. Many view such a partnership as a sign of Western Union's willingness to become more active in the digital currency space. The partnership also signifies a growing recognition of Ripple Labs' open protocol that lets people send digital currency across the Internet-based distributed network. Ripple Labs signed an agreement in the fall with two U. S. banks (Cross River Bank in New Jersey and Kansas-based CBW Bank)....
LakeBTC has confirmed it has patched its system to stop this problem from happening again. UPDATE (28th October, 10:00 GMT): Information about a second data error lasting seven minutes on 27th October was added. The CoinDesk BPI spiked this weekend due to an error in the data reported by the LakeBTC exchange. From 09:18 UTC to 12:24 UTC on 26th October, LakeBTC's price ticker reported a bid value of $1,000. Immediately prior to this, the value was $351.34. A LakeBTC data caching issue caused its price ticker to show an erroneous, high, bid value. "We thought it was the trades but the trade....