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To counter foreign sanctions and boost the local economy, the government of Venezuela is doubling down on digital money, with the intention to use cryptocurrencies in domestic and foreign trade. President Nicolas Maduro has proposed the set of technical tools for the Central Bank of Venezuela to store cryptocurrency, so that entities could pay with BTC and ETH through bank accounts. Just a week before, the local government passed a law legalizing mining in Venezuela.
This is a very interesting precedent on the high government level. It might open new doors for crypto in international trade, so our Ternion team is looking forward to seeing how successful this initiative will be.
Mexico accumulates almost 11% of all retail crypto transactions in Latin America since July 2019, the resent study performed by Daniel Cartolin of "Chainalysis" shows. In particular, $50M worth of crypto, mostly in BTC, was transferred between Mexican and foreign companies. The research cited a simple reasoning for the stats: cheaper transaction costs.

We in Ternion believe that digital currencies pave the way to faster, less expensive and secure transactions, and it is reasonable to see yet another country to experience their advantages in such a significant form.
It has been confirmed by the Central Bank of Korea (BOK) that the testing of digital won is starting next year. The pilot program will run until December 2021, with the 1st designing phase ended this July, 2nd analysis phase has started this September, while 3rd distribution phase will take place next year. This phase will include large scale testing by banks, distribution and circulation. However, the question of whether CBDC will eventually be launched remains open, as the BOK will rely on results of the pilot.
We in Ternion are keeping a tight eye on the situation, since at the moment, digital won is appearing to be only the second CBDC in Asia with any sort of release schedule.
Jack Dorsey’s “Square” has recently announced that it had bought about $50 million worth of Bitcoin, which equates 1% of the company’s assets. Previously having endorsed cryptocurrency, the mobile payment provider became only a second publicly traded company to hold part of its reserves in BTC, after Michael Saylor’s “MicroStrategy”.
We in Ternion are assured such practice will only become more and more commonplace in near future.
Grammy-nominated Canadian record producer Murda Beatz, known for his works with the likes of Drake, Cardi B and Travis Scott, has recently joined the crypto keepers club. Earlier this month, he shared that he bought his first Bitcoin, citing an artist Jermane Prime, as well as entrepreneur and Bitcoin activist Anthony Pompliano as ones who convinced him to do so.
We in Ternion, are always glad to welcome new enthusiastic members in the crypto community!
The Central Bank of the Bahamas is aiming to make the local CBDC, “Sand Dollar”, a worldwide-used currency. The national launch is scheduled to take place on October 20th, with six financial institutions being granted to provide CBDCs to the public. Meanwhile, the representative noted that they are “working on a solution” to make Sand Dollar interoperable with other countries’ currencies, in hopes for it to reach global level.
The Bahamas showed serious determination to benefit from the early adoption of CBDC, and our Ternion team is very curious to see how the situation regarding Sand Dollar unfolds.
“Bank of Russia” has opened public discussions on issuing CBDC. In particular, the Central Bank has issued a report providing groundwork for legal definition of digital rouble, advantages of its usage and technical challenges that need to be met in order for it to launch. The feedback on the report is expected to be taken until December 31, after which the next stages, including research, consulting, development and testing, would take place.
As Russian determination with regards to blockchain and digital currency looks to be taking more positive direction in general, albeit not without obstacles, we in Ternion are keeping a keen eye on the local crypto development.
According to the most recent forecast by consulting firm “PwC”, blockchain technology might boost the global GDP by $1.7 trillion by 2030, if implemented across the variety of businesses until 2025. “PwC” noted the following biggest industrial beneficiaries of blockchain adoption: product tracking, financial services, identity security, public administration, education and healthcare.
The world needs a prominent technological solution to counter various upcoming challenges, and we in Ternion believe that blockchain indeed has such potential.
Macro investor Paul Tudor Jones, who previously endorsed Bitcoin and invested in it in May 2020, gave an interview to “CNBC” where he doubled down on his view of Bitcoin as prominent “inflation trade”. He also compared investing in Bitcoin nowadays with “investing in Apple and Google early”.
Right before this prominent endorsement emerged, Bitcoin had renewed its 2020 maximum earlier on Thursday, surpassing the $13.000 mark per 1 BTC. Meanwhile, our Ternion team stays working tirelessly to provide our clients with fastest services to safely trade BTC with lowest fees.
Tech giants “Samsung” and “LINE”, as well as the South Korean branch of consulting firm “Ernst & Young”, were the first to apply to the government’s bid to design and test digital won. The bid was prolonged until October 29; if no other party participates, the aforementioned companies will be developing digital won’s technical architecture until the pilot ends in December 2021.
As the Bank of Korea is still undecided, stating it will rely on the pilot results in order to launch digital won, we in Ternion are sure the project will be a useful experience for the crypto industry in terms of CBDCs integration into the global market.
“Cointelegraph” has performed a survey among institutional investors from Germany, Austria, Switzerland and Liechtenstein, finding out that 61% of those have either invested in cryptocurrency or plan to do so. Among 55 companies with total net worth exceeding €719B, 36% have already invested in crypto, mainly Bitcoin and Ethereum. Both actual and potential investors have expressed the most enthusiasm over future perspectives of Bitcoin and security tokens.
Our team in Ternion sees this news as yet another example of cryptocurrencies raising prominence among institutional investors as of recent. From there, it might only get more transparent and crypto-friendlier for the vast majority of market players.
The Central Bank of Kenya (CBK) has started discussions regarding possible CBDC with other central banks, the CBK Governor Patrick Njoroge recently shared. Due to a variety of private coins already existing, the government feels “left out” already, thus needing to catch up on CBDC, he explained. As CBDC would require further research with risk concerns in mind, technology behind private cryptocurrencies, Bitcoin in particular, is “inspirational” for them while approaching the project.
As lots of African users already invest in cryptocurrency, we in Ternion assume it was only a matter of time when local governments pay attention to crypto and start developing their own CBDCs.
“Villanova University College of Engineering”, in partnership with “Teachers in Space”, has announced the “Serenity” educational satellite. It will be the first to use Ethereum-based blockchain for inter-satellite communication on Earth orbit without ground stations’ involvement. The first ever blockchain-based communication is set to happen after the “Firefly Aerospace Alpha” launch on November 20th, and the vehicle is booked for 30 days of experiment.
We in Ternion are enthusiastically awaiting the result. The potential of blockchain in space appears to be huge, and it might open a whole new chapter in space exploration.
A latest research by “Grayscale Investments” discovered that 55% of the US investors expressed their willingness to invest in Bitcoin.This is a surge since last year, when 36% of respondents rated Bitcoin positively. Besides, 83% of people who showed interest in Bitcoin already invested this year, citing COVID-19 pandemic as one of the defining factors. The share of respondents acquainted to Bitcoin also grew, reaching 62% this summer.
This is a definite expression of the currently present trend we in Ternion have covered earlier on multiple occasions, including the fact that potential investors reasonably rate Bitcoin and cryptocurrencies as a “safe haven” asset during a financial crisis.
This Thursday, Bitcoin has surged above the $15000 mark for the first time since January 2018. About $1000 in price was added just within a day. Ethereum and a range of other altcoins have also grown.
We in Ternion are hoping that positive tendencies on markets continue; meanwhile, our team is always working to provide fastest services to safely trade cryptos with lowest fees.
The government of Iran has recently issued a legislation that provides a legal basis to redirect cryptocurrency, supplied from miners through taxation, for foreign import funding. The taxation would be defined by the level of electricity being used by a mining company.
As under US sanctions Iran cannot use US Dollars as a currency for foreign operations, the move looks rational and expected. Moreover, the government of Venezuela has also previously expressed plans to use privately issued cryptocurrencies on state level. We in Ternion assume such practice of using cryptocurrency in order to negate possible economic obstacles on the highest levels will only expand in the future.
The government of Lebanon is planning to launch CBDC in 2021, Central Bank’s Governor Riad Salameh confirmed. Such a move would hopefully restore confidence in the banking sector after widespread protests against corruption that led to massive bank closures last year. The Central Bank also believes CBDC would also help the transition to cashless payments.
We in Ternion believe that Lebanon will serve as an interesting example of how adoption of digital currency might help the local economy in context of the broad and deep challenges to the financial sector, as a bid to restore compliance and customers’ trust.
On Thursday, Bitcoin surpassed the $16000 mark for the first time since January 2018. Following a week-long consolidation between $14000 and $16000, Bitcoin has now gathered around 50% in price this past quarter alone. Besides, altcoins, such as Ethereum or Litecoin, are also gaining in price.
As private and institutional investors are expected to double down on Bitcoin and crypto due to uncertainty on the markets of others’ assets, we in Ternion stay working to provide our customers fastest services to buy BTC and other coins with lowest fees.
Two rival Brazilian indigenous tribes from Northern Brazil have joined forces to create a cryptocurrency to guarantee the native people’s minimal income amid government negligence during COVID-19 pandemic. They also hope the token will help indigenous rights amid the hostile crackdown of the government forces, as well as fighting corruption. 100 million OYX (Oyxabaten) tokens will be issued at a starting price of 10 reals per coin, with the proceeds benefiting the tribes to acquire the implements they need for living.
We in Ternion find this initiative an inspiring example of how blockchain and cryptocurrency could be used for improving people’s lives, and even uniting unlikely allies in sake of common good.
Dear Ternion Exchange Customer,

We are informing you that starting with 21/11/2020 the deposits and withdrawals using fiat payment systems will be disabled (Sepa and Swift). We are expecting to receive your deposits and withdrawal requests before 20/11/2020 in order to process it and avoid delays.

Ternion Team