Crypto platform Unocoin launches new exchange

Unocoin, the oldest cryptocurrency platform in India, has launched its new crypto exchange platform built for professional traders, fund managers and retail investors.

The launch, which follows Unocoin’s beta Unodax platform, marks the expansion of the company’s existing brokerage model into a full-scale exchange model. The platform comes with billing and invoicing functions to help fund managers and professional traders adhere to tax compliance and financial reporting, Unocoin said.

Unocoin, the single pool of liquidity shared by all Unocoin products, will continue to be made available for Unocoin Exchange users. Trading fees, APIs, and security features will be the same for both platforms. To facilitate the migration, the current platform, Unodax will remain accessible to users for a period of time, with transactions, balances and activity mirrored on both platforms. After 31st March 2021, all users will be seamlessly rolled over to Unocoin Exchange, with Unodax being phased out.

“We are launching the Unocoin exchange as a straightforward and user-friendly platform for experienced traders and institutional investors in India to participate in a globally expanding cryptocurrency ecosystem. In addition to a customised and secure trading platform, we will continue with Unocoin news, the Unocoin blog, and educational campaigns to help users excel in the crypto space,” said Sathvik Vishwanath, Co-founder and CEO, Unocoin.

The Unocoin Exchange comes with an improved user experience from Unodax, customised trading solutions that now serves a wider clientele. New features include a completely redesigned platform for a more intuitive experience; simplified deposit and withdrawal processes; improved charts to access more historical data; a new consolidated portfolio view called “My Wallets”; new Lending and Earn Interest functions; a wider wallet page consisting 30 different coins, the company said.

Apart from traditional limit orders and market orders, the platform is the first in India to support sophisticated order book placements, including split orders, enabling customers to place multiple orders at different prices with a single click; and ladder orders, helping customers take advantage of volatility with automatic order execution upon trigger of pre-determined price levels.

Sunny Ray, Co-founder and President, Unocoin said that by facilitating multiple functions like investments, utilisation, buying, selling, lending, and earning interest with cryptocurrency, Unocoin is offering users a unique opportunity to become shareholders in the cryptocurrency ecosystem. “As the decentralized ecosystem advances, we expect there will be many more opportunities for customers to interact with digital assets in new and unique ways,” he added.

After initial concerns as well as risks associated with this, regulatory bodies all over the world are looking at crypto currencies. In India, banking regulatory Reserve Bank of India recently issued a booklet on Payment and Settlement Systems in which it has mentioned that Private digital currencies (PDCs) / virtual currencies (VCs) / cryptocurrencies (CCs) have gained popularity in recent years.

RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it.

Panopto opens new office in Singapore

Cloud-based video platform Panopto has opened its new office in Singapore as part of its strategy to respond to the growth in demand in Asia.

Located in mixed-use development building Marina One, Panopto’s new base in Singapore will allow the company to continue serving higher education institutions and businesses in over 14 countries in Asia.

“It’s appropriate to ring in the new year in Asia with a new office in Singapore,” said Elle Hosek, General Manager of Panopto Asia.

“Panopto has been servicing customers in Asia on its Singapore-based cloud since 2018, and we’re excited to expand our presence,” she added.

The new office also builds upon Panopto’s data center in Singapore and further complements the company’s existing office in Hong Kong. With Panopto’s presence in Singapore, top local universities including the National University of Singapore (NUS) and the Singapore University of Social Sciences (SUSS) will be able to benefit from a series of cloud-based upgrades, such as seamless online learning.

MC Payment to list in Singapore Exchange

Mobile Credit Payment will become the first fintech company to be listed on the Singapore Exchange.

This will be done through a reverse takeover of special purpose acquisition company Artivision Technologies, it said. Artivision Technologies Limited shareholders on January 22 approved the proposed takeover at an Extraordinary General Meeting (EGM) and expects completion of the acquisition on 18 February 2021.

Established in 2005 and regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019, MC Payment holds a major payment institution licence and is a Singapore-based, online-to-offline financial services technology company with a focus on servicing merchants in the retail, transportation and food and beverage industries.

MC Payment’s listing comes at a time when digital payments are witnessing a blowout in South Asia, as consumers increasingly have started using this channel to transact, in the aftermath of COVID-19 pandemic. Digital payments in ASEAN region is expected to triple to $1.5 trillion by 2030.

Currently, MC Payment has a presence in four countries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to become a regional player. MC Payment CEO, Anthony Koh is of the view that future growth avenues for the Group include penetrating new geographical markets through mergers and acquisitions, joint ventures and/or franchises, as well as rolling out new value-added services for merchants.

“We’re expecting a robust growth trajectory for the Southeast Asian payments industry, following a surge in digitisation, spurred by increased access to 5G mobile technology, blockchain and AI, coupled with the rapid rise of e-commerce,” he had said.

Subsequently, Artivision will be renamed MC Payment Limited, and is set to become the first listed digital payments services firm on the SGX-ST.

AT TOKYO to open new data center in 2023

Japanese data center company AT TOKYO announced the launch of a new data center in Tokyo which will commence operations in 2023.

 Named Chuo Center #3 (CC3), the data center will be located within Tokyo’s 23 Wards, special municipalities that are at the center of Tokyo’s Metropolitan area. The facility will be approximately 32,000 square meters with five server room floors.

Upon completion, this new urban-type data center will provide businesses in Japan with added value and boost their infrastructure transformation in Japan’s highly digitalised society.

Construction is expected to complete in September 2023, and operation inauguration is expected to be in October 2023.

Japanese data center market: one of Asia’s most valuable

The data center market in Japan is one of the largest in the Asia Pacific region, and according to advisory and intelligence firm Arizton, it is likely to continue growing at a CAGR of over 3% from 2020-2025.

As of 2020, the Japanese cloud services market is estimated to value at around $6 billion. Japan’s long-standing reputation as one of Asia’s main financial hubs means significant investments from the biggest colocation service providers, including AT TOKYO, NTT, and Equinix.

With the country currently still battling COVID-19, digitalisation in Japan has become more crucial than ever. In February 2020, the Japanese government appointed the services of cloud computing giant AWS to build a government cloud infrastructure for human resource and document management.

AT TOKYO currently has six data centers across Japan, with two in Osaka and four in Tokyo.

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Driven by the gaining momentum of cloud hosting, rapid internet penetration and digitalisation, the Southeast Asia web hosting market is expected to reach US$4.7 billion by 2025, with many startups and global giants like Google, AWS and Alibaba Cloud setting up in the region.

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