The Daily: Crypto Exchange Rents Pricey HK Offices, UAE Realtor Sells Homes for Crypto
Crypto trading platform Bitmex has reportedly rented some of the world’s most expensive offices, in a Hong Kong skyscraper. Also in Bitcoin in Brief today, UAE-based realtor wants to add cryptocurrencies to the payment options offered to its customers. Other reports in The Daily cover Square Cash app downloads surpassing those of Paypal’s Venmo, and a new smart speaker rewarding musicians with crypto payments when you clap your hands.
Bitmex Rents Expensive Offices in Hong Kong
Cryptocurrency exchange Bitmex has rented some of the most expensive office space in the world. The trading platform has leased the 45th floor of the Cheung Kong Center skyscraper, the Hong Kong Economic Times wrote this Wednesday quoting unidentified sources. The building hosts some serious tenants, including Goldman Sachs Group Inc, Barclays Plc, and Bank of America Corp.
According to the newspaper, rents in the Cheung Kong Center reach HK$225 ($28 USD) per square foot for the space of about 20,000 square feet. Previously, Bitmex had its offices in the logistics and warehouse district of Hong Kong. Rents in the building there, on the other side of Victoria Harbour, were around HK$25, or a little over $3 USD per square foot.
Bitmex was founded in 2014 by the man considered to be the youngest British self-made billionaire, Ben Delo software developer, Samuel Reed, and former Citigroup trader, Arthur Hayes. The exchange quickly rose to prominence by offering high leverage cryptocurrency contracts and currently ranks second by daily trading volume according to Coinmarketcap.
UAE Realtor Willing to Accept Cryptocurrencies
UAE-based real estate developer, Imkan Properties, is considering introducing a crypto payment feature for home buyers who would like to purchase real estate using digital assets. According to company’s CEO, Walid El-Hindi, cryptocurrencies may soon be added to the the payment plans offered to customers of Imkan Properties.
“Imkan is looking into new ways of approaching financials… We’re looking into cryptocurrencies and new technologies when it comes to putting together financial packages in relation to real estate,” he told local media. Imkan Properties is currently developing 26 projects in six countries worth over $27 billion USD.
The news about Imkan’s plans come after a leading representative of the crypto sector in the region revealed it is working with authorities in several countries to develop regulatory frameworks for the growing industry. As news.Bitcoin.com reported this week, Dubai-based crypto exchange Bitoasis, which operates in UAE, Kuwait, Bahrain, Oman and Saudi Arabia, is trying to engage regulatory agencies from the Gulf Cooperation Council (GCC) member-states in the light of the recently issued statement by Saudi authorities declaring cryptocurrencies such as bitcoin to be illegal in the kingdom.
Square Cash Downloaded More Than Paypal’s Venmo
Cumulative downloads for the Square Cash app have totaled 33.5 million last month – reportedly surpassing Venmo’s 32.9 million for the first time, according to data from a recent Nomura Instinet analysis quoted by CNBC. The money transfer application that supports bitcoin purchases, recorded a three times faster growth in July when compared to its competitor developed by payment provider Paypal. According to previous reports, Square Cash had nearly 2 million downloads per month in May and June. Square recently declared that of its $37 million USD of revenue reported for the second quarter of 2018, roughly $400,000 of which was generated throughits bitcoin trading platform.
Tipping Artists With Crypto by Clapping Hands
Volareo, a Rotterdam-based company, has announced the launch of its smart speaker supporting cryptocurrency payments. The idea behind the project, realized in cooperation with blockchain startup Emanate from Sydney, is to reward musicians while their work is being consumed by users, Business Insider UK reported. Artists should be able to receive royalties almost in real time, the developers emphasized. Volareo’s speaker features a functionality called “Maglove clips” that allows users to send micropayments in cryptocurrency to an artist they like by simply clapping their hands.
What are your thoughts on today’s news tidbits? Tell us in the comments section below.
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