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Cryptocurrency

  • Wealth Migrate delays real estate ICO ‘to ensure all ducks are in a row’

    Global real estate platform Wealth Migrate has opted to delay the launch of the company's first initial coin offering (ICO) by three weeks to ensure that the company abides by all the necessary financial regulations, says the company's CEO Scott Picken. Commenting via email to Ventureburn yesterday on why the South African company did not launch the ICO for its WealthE token yesterday (14 March) as expected, Picken (pictured above) said the crowd sale is now planned to kick off on 4 April. He added that the token’s presale is currently underway through a manual process and that so far $2.5-million has been raised...

  • Luno still working with Malaysian bank to get account open again, resume trading

    SA bitcoin exchange Luno is still working with bank authorities in Malaysia to get its bank account there up and running again, after the country's tax authority last month took the decision to unfreeze its account the company's bank account. The tax authority in January froze the startup's Malaysia bank account with Maybank, after it launched a probe into the cryptocurrency company's activities in Malaysia. The account has since been unfrozen, but Maybank has yet to reopen it, so that Luno can begin trading bitcoin again in Malaysia. Read more: SA startup Luno’s Malaysian bank account still frozen as tax probe continues Responding to Ventureburn...

  • Wealth Migrate set to launch public sale of WealthE coin on 14 March

    Global real estate platform Wealth Migrate is set to launch the public sale of its WealthE coin on 14 March. The South African company launched a token presale of WealthE in December 2017. Read more: Wealth Migrate launches pretoken sale to ‘democratise investing’ "We are in the process of finalising our presale in order to ensure that we have all the safety precautions in place in terms of security for contributors and plan to launch the public sale portion of the token sale on March 14th," Wealth Migrate CEO Scott Picken told Ventureburn in an email. "As you have published before, ensuring that...

  • Blockchain surveillance startup Faceter claims to raise $10m in 20 seconds

    In what could be South Africa's fastest and most successful token presale, Johannesburg-based blockchain surveillance startup Faceter claims it raised over US$10-million in 20 seconds during a sale held on Monday. Speaking in a video posted on the company's Twitter account yesterday, Faceter CEO and co-founder Robert Pothier announced the outcome of the presale and added that he "believed in the project being spread around the world". The token presale was conducted on a whitelist basis, after a process that saw over 8 000 applicants from 152 countries apply to take part in the presale, the company claimed. Faceter develops smart video surveillance solutions with...

  • SA bitcoin wallet provider Centbee announces funding from nChain Group

    SA bitcoin wallet provider Centbee has announced that it has received an equity investment from blockchain research and development firm nChain Group. The announcement was made by the nChain Group in a press release yesterday. Centbee makes it easy for a global consumers to acquire, hold and spend Bitcoin with retailers and other merchants. The funding deal was made through the nChain Group’s investment entity, nChain Reaction Ltd. When contacted via email Centbee co-founder Lorien Gamaroff  did not want to disclose details of the amount of funding or stake that nChain Reaction has taken in the startup. "I can't say much other than nChain is the only investor...

  • SA Reserve Bank expects clarity on sandboxes, taxing bitcoin by middle 2018

    The SA Reserve Bank says it is still reviewing its position on cryptocurrrency and sandboxes, and anticipates that it will be in a better place to comment on this by the middle of this year. While the Reserve Bank’s current position on virtual currencies is set out in the Position Paper on Virtual Currencies issued in 2014, Ventureburn this week asked the Reserve Bank whether it would be allowing sandboxes for testing of blockchain and bitcoin applications. While at present coin exchanges are required to report cryptocurrency transactions to the Reserve Bank, Ventureburn asked the Reserve Bank if it had taken a decision on implementing any further...

  • Gron Digital betting on $57m platform to improve gambling operators’ image

    Tebogo Makamo, the former head of compliance at the Gauteng Gambling Board, is hoping that his blockchain platform Gron Digital will become an industry standard in making the gambling sector more transparent. The startup launched a pre-initial coin offering (pre-ICO) earlier this week. The platform, claims Makamo, will use blockchain (and smart contracts specifically) to among other things, improve transparency around gambling winnings and ensure that South Africans stick to the law and use only licensed operators to gamble online. The startup plans to launch the ICO proper on 6 February and raise the equivalent of 57 000 Ethereum coins (valued at $57.4-million on 24 January...

  • Former gambling board man behind Gron Digital says ICO is backed by experts

    The man behind an initial coin offering (ICO) expected to launch next month has played down the negativity surrounding the use of ICOs and claims his ICO -- which aims to tackle legacy issues of trust and fair competition in the gambling sector -- will be backed by "trusted" experts. In a press release today announcing the launch of its pre-ICO to develop an open gaming platform, CEO of Gron Digital Tebogo Makamo said ICOs have recently seen plenty of negative press surrounding them as they’ve been "overdone, overworked and have often under-delivered”. “However, not all ICO’s are created equal and the one developed by...

  • SA startup Luno’s Malaysian bank account still frozen as tax probe continues

    Almost a week in SA bitcoin exchange Luno's bank account in Malaysia remains shut, after being frozen by the country's tax authority late last week. It follows a statement issued last Saturday (13 January) by the company that its account -- held under the name of its local entity BitX Malaysia – was frozen by the tax authority pending an investigation. In a report in Malaysian newspaper The Star today Inland Revenue Board’s (IRB) chief executive officer Datuk Seri Sabin Samitah said the tax authority is carrying out the audit to determine whether the cryptocurrency company has complied with the statutory requirement under the...

  • SA startup GoMetro to be part of ICO run by UK internet of mobility company

    Smart mobility startup GoMetro will be part of a UK initial coin offering (ICO) run by internet of mobility company Tsio Protocol, says the Cape Town based startup's founder Justin Coetzee. Coetzee told Ventureburn on Tuesday that GoMetro's new flex platform will form part of Tsio Protocol's minimum viable ecosystem and that the ICO will take place "towards the end of March". "They're raising it and we're part of their consortium," said Coetzee. "If they are successful in their fund raise, they will be integrating their token into our system," he said. It follows the announcement by Coetzee in November last year of plans to trial GoMetro's new...

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