In this edition of The Daily we cover a planned U.S. regulated cryptocurrency exchange from Riot Blockchain, the arrest of a hacker in Japan who allegedly stole 15 million yen of monacoin, and a couple of new investors in Coinflex.
Riotx Exchange Details
Riot Blockchain, Inc. (NASDAQ: RIOT) has filed with the Securities and Exchange Commission (SEC) regarding its planned U.S.-based digital currency exchange, Riotx. The document shows that the company intends to launch trading on the exchange with bitcoin core (BTC), bitcoin cash (BCH), litecoin (LTC), and ethereum (ETH), paired with one another and also for U.S. dollars. Riot Blockchain explained it has selected these coins based on internal and external reviews, and will only include currencies for which it has full regulatory and legal authorization to list.
The upcoming exchange will be comprised of three core services and Riot intends to acquire each of these by engaging third party vendors. Banking services will be provided by Synapse Financial Technologies, Inc. (Synapsefi); a trading engine will be provided by Shift Markets; and a provider of digital wallet services is still unannounced. The company anticipates launching its Riotx digital currency exchange by the end of the second quarter of 2019.
Before October 2017, Riot was a biotechnology company known as Bioptix, Inc. that specialized in the development of veterinary diagnostic tools. On October 4, 2017 Bioptix announced it was changing its name to Riot Blockchain and shifting its business focus to investing in blockchain technologies. In February 2018 it was hit with a class action lawsuit in the Southern District of Florida related to the move.