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Poss Token to Be Listed on BitMart Exchange

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Toronto, Ontario–(Newsfile Corp. – August 20, 2022) – The PossChain team is both humbled and delighted to announce that the Poss token will be listed on BitMart Exchange.

PossChain

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The Poss token will permit users to transact with others on the blockchain, as well as pay for all utility fees in the ecosystem. The token can be used for governance, staking, transactions, smart contracts, and validator rewards on the platform.

As investors have been anticipating which exchange Poss token will be listed, the team has announced that a BitMart listing has long been one of their goals to enable as many people as possible worldwide to buy and hold Poss token while also adding liquidity to the coin and network.

The team has been in touch with BitMart’s administrators for quite some time and went through a pervasive due diligence process. Being a part of such a procedure and obtaining such confirmation makes the team very satisfied, knowing that BitMart will set such a high standard of professionalism.

The Poss token will be listed on BitMart. This will be Poss token’s first exchange platform once the sale event is completed.

The PossChain team has been precise in choosing its first platform to list its token to enable a hassle-free user transaction and enhance the token’s value when it finally gets listed. The team mentioned that they owe much appreciation to their community, which put them on the radar of decision-makers in BitMart.

The team has also mentioned that new listings are on the way and are in contact with many exchanges for new listing news.

The team has been dedicated to ensuring the thriving of the PossChain project. The Poss technology is built to provide end-to-end anonymity for the entire defi stack.

The PossChain Team also mentioned that the new exchange news is coming.

How will the listing work?

BitMart Exchange will list the Poss token. Users can effortlessly trade Poss native coins for ERC20/BEP2 tokens through the PossChain Bridge on BitMart Exchange.

Why did PossChain choose BitMart as its first exchange platform?

BitMart is an international cryptocurrency exchange that enables users in 180+ countries to purchase and sell over 1,000 digital currencies and tokens. BitMart provides all the features one would anticipate from a global crypto exchange.

CEX exchanges procure a user-friendly protocol that stimulates the purchase and surveillance of digital assets.

The team stated that they chose BitMart because it offers developed charting, numerous order types, including market and limit orders, futures trading, and low trading fees.

Additionally, BitMart has an over-the-counter (OTC) trading desk for institutional investors. This will enable the investors to trade potentially with no drawback.

To learn more about BitMart, visit their website at www.BitMart.com and download the BitMart App to trade anytime, anywhere.

Transaction fees

BitMart is the exchange with one of the lowest trading fees in the market, which is one of the fundamental reasons the team also nominated the exchange.

For all of PossChain’s updates and to join the conversation, be sure to check these channels:

Website: https://www.Posschain.com
Telegram: https://t.me/Posschain
Twitter: https://twitter.com/Posschain
Reddit: https://www.reddit.com/r/Posschain
Whitepaper: https://Posschain.com/Posschain-whitepaper.pdf

Contact:

Company: PossChain
Founder & CEO: James Garcia
Contact: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134352

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

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financial-industry-bodies-defend-permissionless-blockchains-against-basel-committee’s-classification

Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.

Source: coingeek.com

The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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