Binance.US Is Listing Chainlink (LINK) and Ravencoin (RVN)

Binance.US, Binance's trading platform for its customers in the U.S., announced on Thursday (October 10) that it had added support for two additional cryptoassets: Chainlink (LINK) and Ravencoin (RVN).

Binance.US, which was launched last month, is a digital asset exchange that is "powered by matching engine and wallet technologies" licensed from Binance but is operated by San Francisco-based BAM Trading Services.

Binance.US says that it has already started taking deposits for both LINK and RVN. It should be noted that in the case of ACH USD deposits, "you will be able to buy and sell digital assets from your USD wallet immediately, but deposited funds are placed under an initial hold of 10 days before you can take them out of Binance.US."

USD-based trading pairs for LINK and RVN are set to open at 21:00 EST on 10 October 2019 (or 01:00 UTC on 11 October 2019).  Only once trading in these two pairs has gone live will withdrawals be possible.

These latest additions mean that by October 11, Binance.US will have the following trading pairs on offer:

  • BTC-Based Pairs: ETH/BTC, XRP/BTC, BNB/BTC, LTC/BTC, and BCH/BTC.
  • USD-Based Pairs: BTC/USD, ETH/USD, XRP/USD, BCH/USD, LTC/USD, BNB/USD, USDT/USD, ADA/USD, BAT/USD, ETC/USD, XLM/USD, ZRX/USD, LINK/USD, and RVN/USD.
  • USDT-Based Pairs: BTC/USDT, ETH/USDT, XRP/USDT, BCH/USDT, LTC/USDT, BNB/USDT, ADA/USDT, BAT/USDT, ETC/USDT, XLM/USDT, and ZRX/USDT.

At press time (10:00 UTC on October 10), according to data from CryptoCompare, here are how Chainlink and Ravencoin are doing:

LINK-USD 24 Hour on 10 Oct 2019.png

RVN-USD 24 Hour on 10 Oct 2019.png

 

Featured Image Credit: Photo via Pixabay.com

Tether Gold (XAU₮): A New Tokenized Gold Product Built on Ethereum and TRON

Siamak Masnavi

On Thursday (January 23), Tether launched a new product called Tether Gold (XAUt), which is a crypto token -- available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain -- representing "ownership of one troy fine ounce of physical gold on a specific gold bar" held in a Swiss vault. 

Paolo Ardoino, CTO at Tether, had this to say:

There is growing demand for digital exposure to physical gold, making the launch of Tether Gold a timely innovation in the crypto ecosystem. Tether Gold provides the combined benefits of both physical and digital assets, removing the drawbacks of holding gold in more traditional ways, such as high storage costs and restricted access.

The XAUt token "can be transferred to any on-chain address from the purchasers' Tether wallet where it is issued after purchase." A particular gold bar(s) "will be associated with each on-chain address where Tether Gold is held."

The allocated gold is "identifiable with a unique serial number, purity and weight" and XAUt token holders are able to verify "the details of the gold bars associated with their address" via the Tether Gold product page on the Tether website. 

Tether Good Lookup.png

Tether Gold is a cryptoasset issued/sold by TG Commodities Limited (a UK company incorporated in December 1998). Each XAUt token represents "one troy fine ounce of gold on a London Good Delivery gold bar" and may be "fractionalized up to six decimal places (i.e. in increments as small as 0.000001 troy fine ounce)." 

Here are a few more important things you should know about Tether Gold:

  • You need a verified account with TG Commodities Limited if you want to buy XAUt directly from its issuer. The minimum purchase amount is 50 XAUt (worth approximately $78,250 as of 23 January 2020). The purchase price must be paid in USD.
  • XAUt tokens can be traded on supported exchanges (such as Bitfinex) "in fractions as small as the exchanges permit.", but you do need to pay 
  • There are no custody fees, but you do need to pay "a one-time 25 basis point fee at the time you purchase an XAUt from TG Commodities Limited and certain additional fees on redemption." 
  • To redeem Tether Gold tokens, you need a verified account with TG Commodities Limited. You must have at least "one full bar of gold worth of tokens" in order to use the redemption service. The physical gold can be delivered to either somewhere in Switzerland or the XAUt token holder can ask TG Commodities Limited to sell their physical gold and receive USD from the proceeds of the sale. 

Featured Image Credit: Photo via Pixabay.com