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Paxtradings Crypto Minute: June 3, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: June 3, 2018

Bittrex Now Allowing Users to Convert Dollars Into Cryptocurrency

The U.S.-based cryptocurrency exchange, Bittrex, is now allowing users to buy coins using U.S. dollars. According to CNBC, the majority of altcoins could only be purchased after users converted dollars into a major cryptocurrency on another platform first. Bittrex Founder and CEO Bill Shihara claims that his company is work with U.S. agencies to help solve the “regulatory puzzle” of cryptocurrencies.

Singapore-based Huobi Launches Cryptocurrency-Based Exchange Traded Fund

Huobi, a Singapore-based exchange, has launched a cryptocurrency-based exchange traded fund (ETF), which allows users to invest in a combination of cryptocurrencies at one time. As reported by Nasdaq, the fund, called Huobi 10 (HB10), will replicate the Huobi 10 index. The fund is currently open for subscriptions with some limitations.

Chinese Universities Partner to Create Decentralized Autonomous Organization

At least three Chinese universities are coordinating to build a decentralized autonomous organization (or DAO), called the Youth Education Chain League (YEC League), based on a blockchain protocol in an effort to make educational resources more accessible and affordable. According to CoinDesk, the coalition of universities is led by Tsinghua x-lab, the innovation incubator at China’s Tsinghua University. The coalition also includes the Peking and Zhejiang universities and other unnamed universities.

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