crypto
crypto

EOS Token Gets Japan’s Nod To Trade Against Yen; Tether Adds Bahamas-based Britannia Bank As Partner

Here are some major developments in the crypto world over the past few days.

The EOS Network Foundation (ENF) has announced that the EOS token will start trading on the Japanese exchange BitTrade in September. The coin will trade against the Japanese yen on authorised exchanges in Japan after receiving “whitelist permission” from the country's cryptocurrency regulator, it has been reported.

ENF, which funds the development of EOS, informed Cointelegraph that the Japanese Virtual and Crypto Asset Exchange Association approved the coin for inclusion on its whitelist.

This indicates that the token can be traded on regulated exchanges against the yen. The ENF also mentioned that BitTrade will facilitate trading for the token starting in September.

Tether Adds Bahamas-based Private Bank Britannia As Partner

Tether reported a new partnership with Britannia Bank, the third Bahamas-based bank to join forces with the stablecoin issuer. According to reports, Britannia Bank & Trust, a private Bahamas-based bank, has been admitted to Tether's network of stablecoin issuers to handle dollar transfers.

According to a Bloomberg on August 29, which quoted persons familiar with the situation, over the past few months, Tether has advised customers to transfer funds to Britannia Bank.

Other banking partners of the company include Capital Union Bank and Deltec Bank.

Since the collapse of FTX in November, US-based cryptocurrency companies had to seek banking partners abroad due to increased regulatory scrutiny.

USDC Will Debut ‘Natively’ On Base Network Next Week

Circle announced that a Base version of its USDC stablecoin would be available soon, eventually eliminating the need for the USDbC bridged version.

According to a social media post from Circle CEO Jeremy Allaire on August 29, the USD stablecoin will debut natively on the Base network “next week”. The existing USD Base Coin (USDbC), used as a stand-in by most users, will be replaced with the new version.

On August 9, Coinbase's Base network became live. At the time, the network didn't have a native version of USD Coin. Users were not able to put money into a Circle account and then receive Base USDC in exchange. The Base team created an official bridge software that customers may use to bridge USDC from Ethereum to address this issue. The bridge's “USDbC” token is backed by native USDC locked on the Ethereum network.

According to the release on August 29, Circle will shortly start issuing USDC on Base, thus eliminating the requirement for a bridged coin backed by the Ethereum version.

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