By Jamie G - Cryptocurrency Specialist
Many newcomers to the cryptocurrency trading world often begin buying Bitcoin (BTC) or investing in stablecoin as safer options. Stablecoins are pegged to the price of fiat or another kind of currency, making it less volatile and a bit more reliable of an investment.
In recent news, two companies have joined forces with a goal to create a new stablecoin that's pegged to the price of a popular commodity. A Decentralised Finance (DeFi) platform MELD and Nigeria's largest mobile network, Tingo Network, is in the works to build a gold-backed stablecoin. Reportedly, the stablecoin will be established on the Cardano (ADA) network.
The partnership was revealed during MELD's crypto summit, the chairman, Ken Olling, made the announcement. The firm's crypto summit also included Ubuntu Tribe, which is an ethical crypto start up that tokenizes natural resources. During the crypto summit, the chairman stated that the objective was to make the project very straightforward and uncomplicated.
According to Olling, he mentions that gold will be held in a vault where it will be tokenised, fractionalised, and then split so that the stablecoin can be put on the market. He went on to say that the concept is highly dependable while having a simple laid out plan. During Olling’s announcement, he further stated that the steadiness in price and value of gold proves that having a crypto version of the commodity would be rather beneficial for investors.
If you are looking to Buy and Sell Cardano, then you can head over to BC Bitcoin where you can safely trade crypto today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards