Zcash 20% Mining Rewards to Devs, Coinbase Custody Goes Irish, Read.cash Users Earn $6,000

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Zcash allocates 20% of its mining rewards to fund developers. Coinbase custody opens a new office in Dublin. Read.cash users earn $6,000 in tips. Swiss company greenlighted to for a token initial public offering (IPO). Haven reaches 100,000 installs, and Asiff Hirji named president of Figure.

Zcash Allocates 20% of Mining Rewards to Development

Coinbase Custody

The community of Zcash, a privacy-oriented cryptocurrency, voted to grant 20% of its mining rewards to a development fund to further advance infrastructure. The Zcash community voted in a referendum, and also decided this new development fund will be divided in three parts: 7% of the rewards will go to the Electric Coin Company, 5% will go to the Zcash Foundation, and 8% will be used to give grants to third-party developers using the currency for their projects. This new distribution model will start being implemented in November during the first Zcash Halvening.

Coinbase Custody Goes International

Coinbase Custody

Coinbase Custody, Coinbase’s asset custody offshoot, opened a new office in Dublin, Ireland to evidently branch out internationally. The new company will be called Coinbase Custody International, and will absorb the customers Coinbase Custody already has in order to cement trust using geographical proximity as a strong point. “In the absence of clear regulation anywhere around the world, I think folks want to be as close to home as they can be,” declared Sam McIngvale, CEO of Coinbase Custody. McIngvale considers this an important move to eventually serve Asian markets in the future.

Read.cash Users Earn $6,000 From Tips in Just a Week

Coinbase Custody

Read.cash, a Bitcoin Cash-centered blogging platform, reached yet another milestone, closing in on the $6,000 mark for tips to content creators over only a week’s time. These numbers were reached by the platform while being an outlet for expression in the ongoing infrastructure funding debates. This week several big tips of $1,000 were given to key posts and proposals, but the platform is also growing by adding a different group of users writing about more general issues as well.

Swiss Company Greenlighted to Offer Blockchain Token IPO

In what it could be the first event of its kind, Overfuture, a Swiss-based company, has been allowed to offer tokens as shares in their Initial Public Offering. The firm will sell 8,399,000 “common equity share security tokens” positioned on the Ethereum blockchain and managed by EURO DAXX, a third-party exchange. The Swiss Financial Market Supervisory Authority (FINMA) is the agency granting approval. This could allow smaller companies to go public using such methods, perhaps reducing costs radically by leaving behind the need for traditional players such as banks and notaries.

Haven Reaches 100,000 Installs

Haven, the social and privacy focused mobile marketplace app, reached 100,000 installs since its launch, a big milestone for an app of its kind with less than a year on the market. With Haven, users can easily send, and receive BTC, Bitcoin Cash, Litecoin and Zcash, and purchase items using these currencies, while having direct contact with merchants and friends through its encrypted messaging feature. Haven is available for Android and iOS devices.

Asiff Hirjio Moves to Loan Refinancing Company Figure

Figure, a blockchain-based financial company, named Asiff Hirji, former COO and President of Coinbase, as its new head. Hirji is already making decisions for the company. Figure centers its services around refinancing mortgages and student loans. Mike Cagney, CEO and Co-Founder of Figure, praised Hirji’s “deep experience in the financial services industry and his long history of helping companies drive and manage growth are both going to be important to the growth of Figure and the creation of our new merchant bank.”

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