Data Projects the Cryptocurrency Market Will Continue its Growth

NEW YORK, October 25, 2018 /PRNewswire/ --

According to a new research report published by MarketsandMarkets, the cryptocurrency market is projected to grow from USD 1.03 Billion in 2019 to reach USD 1.40 Billion in 2019 and with a compound annual growth rate (CAGR) of 6.18% during the forecast years. The report indicated that the transparency of the distributed ledger technology, high remittances in developing countries, the high cost of cross-border remittance, fluctuations in monetary regulations, and growth in venture capital investments are the major factors that drive the growth of cryptocurrency market. Increasing demand for cryptocurrency mining hardware is driving the hardware segment in the cryptocurrency market, while peer-to-peer payment application is expected to grow at the highest CAGR in the cryptocurrency market. Netcoins Holdings Inc. (OTC: GARLF), International Business Machines Corporation (NYSE: IBM), Oracle Corporation (NYSE: ORCL), Shopify Inc. (NYSE: SHOP), Intercontinental Exchange, Inc. (NYSE: ICE)

Cryptocurrency companies are trying to speed up the adoption of cryptocurrency in the mainstream. Coinbase and Circle recently announced a joint venture called "CENTRE Consortium" to allow users to take advantage of the benefits of stablecoins, which are backed by a government currency like the dollar. Coinbase explained in a blog post: "The advantage of a blockchain-based digital dollar like USDC is easier to program with, to send quickly, to use in apps, and to store locally than traditional bank account-based dollars. That's why we think of it as an important step towards a more open financial system."

Netcoins Holdings Inc. (OTC: GARLF) is listed on the Canadian Securities Exchange under the ticker (CSE: NETC). Earlier last week, the Company announced that, "it has launched OTC services, for buy and sell side transactions, in 42 States in the United States. In these 42 States, Netcoins has met the regulatory frameworks in place, which cover cryptocurrency, in order to begin operating its OTC services. These frameworks continue to evolve and Netcoins will add or remove certain States as possible and/or required. Netcoins can also begin establishing retail locations in these States effective immediately.

The 42 States include:

California, Texas, Illinois, North Carolina, Massachusetts, Tennessee, Kansas, Idaho, New Hampshire, Montana, Alaska, Wyoming, Pennsylvania, Ohio, Michigan, New Jersey, Arizona, Indiana, Missouri, Maryland, Wisconsin, Minnesota, South Carolina, Louisiana, Kentucky, Oklahoma, Connecticut, Iowa, Utah, Arkansas, Nevada, Mississippi, New Mexico, Nebraska, West Virginia, Hawaii, Maine, Rhode Island, Delaware, South Dakota, North Dakota, and Vermont.

'Netcoins is thrilled to be able to accept crypto purchases and sales from US-based customers, investors and institutions across a vast majority of the United States. We will also add to our active list of States in operations as we comply with the remaining state regulations, including a planned Bit License in New York,' says Netcoins CEO, Mark Binns. 'We can now establish retail locations, and have opened our OTC desk to a very broad customer base in the US. Netcoins aims to become a leading crypto brokerage in the US, starting today.'

About the Company: The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 21,000+ retail locations in Canada, Europe and Australia and an Over-The-Counter (OTC) trading desk accessible globally."

International Business Machines Corporation (NYSE: IBM) is recognized as the leading enterprise blockchain provider. IBM, in collaboration with Stronghold, recently announced their intent to explore uses for Stronghold USD within blockchain business networks on the IBM Blockchain Platform. The 'Stronghold USD' token is asset-backed (at one-to-one U.S. dollars per coin) with reserves held by a state-chartered trust company. Stronghold, which recently raised seed funding from Freestyle Capital, will use Stellar's blockchain protocol to issue and transact Stronghold USD while providing access to liquidity through its institutional exchange services and the custodial relationship with its partnered trust company. The aim is to experiment with ways for financial institutions and other organizations to achieve faster, safer and more efficient transaction processing and money transfer throughout the world's economy. The Stronghold USD token is another example, similar to digital tokens or digital coins, of the new financial instruments being developed to transform the way in which money moves. They are designed to represent ownership of real-world assets and can be electronically exchanged directly between counterparties, resulting in immediate ownership transfer of the underlying assets themselves - a process called settlement. The value of stable tokens is pegged to liquid or stable asset classes. In the case of Stronghold USD, the asset is U.S. dollar reserves held in custody by a state-chartered trust company. "The digitization of real-world assets using blockchain can dramatically transform many forms of financial transactions conducted around the world," said Jesse Lund, Global Vice President of IBM Blockchain. "New types of fiat-backed instruments, like Stronghold's USD token, have the potential to improve the backbone of international banking operations and payments, giving banks an easier way to integrate with public blockchain networks without significant changes to their core banking and compliance infrastructure."

Oracle Corporation (NYSE: ORCL), with 430,000 customers in 175 countries, provides leading-edge capabilities in software as a service, platform as a service, infrastructure as a service, and data as a service. Recently, in an Oracle release, The Korean Digital Exchange (DEXKO), a start-up company, announced that it provides a blockchain platform to trade cryptocurrency or Korean Won. Its goal is to deliver fast, secure and convenient services to users. DEXKO used MySQL in the early stage of development. Since over half of the 30 employees were developers, the exchange had difficulties with secure human resources for system management. DEXKO also wanted to reduce customer churn and prevent frequent system failures experienced by the other leading exchanges. By migrating to Oracle Management Cloud, DEXKO increased agility and improved its competitive edge. "Oracle provided us a platform with proven reliability and as much stability as the other leading financial services providers, helping us to increase customer and regulator confidence in the cryptocurrency market. We also prevented availability issues as experienced by our competitors," said Ji Min Kim, Service Planning and Operating Team Manager, Korea Digital Exchange.

Shopify Inc. (NYSE: SHOP) is the leading cloud-based, multi-channel commerce platform. Recently, Request Network announced that it integrated its Reqify platform onto Shopify. This enables all e-commerce owners using Shopify to accept cryptocurrency payments with the click of a button. Reqify is a simple way to accept cryptocurrency payments on a Shopify store - all powered by the Request Network. Reqify has no setup fees, no monthly fees and no hidden costs. This first version of the plugin allows users to: Allow customers to pay with Metamask or their Ledger Nano S hardware wallet; Accept payments in ETH. ERC20 + Bitcoin support will be added shortly; 100% free, no setup fees, no monthly fees and no hidden costs; Real-time currency exchange rates with support for multiple currencies. Request have applied to Shopify to become an 'official' app.

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company formed in the year 2000 to modernize markets. Intercontinental Exchange recently announced that it plans to form a new company, Bakkt, which intends to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets. The new company is working with a marquee group of organizations including BCG, Microsoft, Starbucks, and others, to create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network. The Bakkt ecosystem is expected to include federally regulated markets and warehousing along with merchant and consumer applications. Its first use cases will be for trading and conversion of Bitcoin versus fiat currencies, as Bitcoin is today the most liquid digital currency. The effort is designed to address evolving needs in the estimated USD 270 Billion digital asset marketplace. "In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets," said Jeffrey C. Sprecher, Founder, Chairman and Chief Executive Officer of Intercontinental Exchange.

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