Chainlink on Lykke Exchange
Zug, Switzerland. – April 15th, 2021. Lykke Corp, fintech firm and builder of marketplaces for digital financial assets, announces the listing of LINK. Chainlink is an open-source decentralized network, provider of complex smart contacts that work on any blockchain. Chainlink broadens the capability of smart contracts by enabling access to real-world data, events, payments, and more without sacrificing the security and reliability guarantees inherent to blockchain technology. “We are thrilled to welcome Chainlink, one of the top open-source blockchain technology providers backed up by a great community of developers, researchers and users”, said Richard Olsen, Lykke’s CEO. Trading Pairs LINK/BTC LINK/ETH LINK/CHF LINK/EUR LINK/USD LINK/GBP Deposits, Withdrawals, and Trading will be enabled as of today, April 15th, 2021 (Listing Date). About Lykke Lykke is a Swiss-based investment and financial product provider leveraging the power of the blockchain. Lykke runs a proprietary exchange — Lykke Wallet — where clients can buy, sell and store a large variety of tokenized assets, amongst them cryptocurrencies, national currencies, native tokens but also investment products.
Lykke joins the Capital Markets and Technology Association
Zug, Switzerland. – March 16, 2021. The Swiss start-up Lykke joined CMTA (Capital Markets and Technology Association) — an independent association assembled by the main actors from Switzerland's financial, technological and legal sectors, with the objective of creating common standards around issuing, distributing and trading securities in the form of tokens using the distributed ledger technology. Lykke is pleased to join the CMTA association, Lykke believes and shares the same vision as CMTA and together we can promote transparency and reliability needed to popularize DLT for financing purposes. Additionally, with our broad experience in the crypto space we will assist CMTA to create standards and systemize good practices at the regulatory, accounting and technical levels. The CMTA was created with the idea that DLT (Distributed Ledger Technology) and more particularly blockchain technology, has the potential to simplify the financing of companies and democratize their access to financial markets, which is for the time being, essentially reserved for large companies. Lykke has always aimed to bridge the gap between traditional finance and blockchain, by lowering barriers to market entry, solving inefficiencies within the current economic system, and democratizing access to digital asset marketplaces, all by leveraging the power of a broader ecosystem. About CMTA Established by Lenz & Staehelin, Swissquote Bank Ltd, and Temenos AG, with the support of EPFL, the CMTA is a not-for-profit, non-governmental association, capable of assuming an independent role as standard-setter for the use of blockchain technology in capital markets. The CMTA's published standards can be consulted on the Standards page. Learn more about CMTA’s work by visiting the website and following Lykke on Twitter and LinkedIn. About Lykke Lykke is a Swiss-based global fintech firm that utilizes blockchain and emerging technologies to provide solutions for consumers, investors, and corporations. By leveraging the power of a broader ecosystem, Lykke’s platforms eliminate barriers to market entry, solve inefficiencies within current economic systems, and democratize access to digital asset marketplaces. Learn more about Lykke’s work by visiting the website and following Lykke on Twitter and LinkedIn.
Lykke Will Only Support Bitcoin Cash Node (BCHN)
On November 15, 2020, around 12:00 PM UTC the Bitcoin Cash (BCH) network will undergo a protocol upgrade that will split the chain between Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). Lykke formally announces that it will only support Bitcoin Cash Node. This means that the BCH held on your Trading Wallet at the moment of the fork will be converted to Bitcoin Cash Node (BCHN) using the same ticker symbol “BCH”. What will happen to my Bitcoin Cash ABC (BCHA)? It is important to point out that Bitcoin Cash ABC (BCHA) will not be supported right after the fork. If you wish to claim your BCHA coins after the fork, we kindly suggest you to cash out your BCH before the 14th of November at 12:00 PM UTC. At the moment we are not planning on listing BCHA on Lykke Exchange, we will evaluate the situation after the fork and decide what is best for our users. This is what users can expect to happen: BCH deposits, withdrawals, and trading will be halted from the 14th of November at 12:00 PM UTC. All active BCH orders will be canceled. BCH deposits, withdrawals, and trading will stay disabled until the fork is completed and our development team believes it is safe to enable normal operations. Bitcoin Cash Node coins will be called “Bitcoin Cash” on our platform and represented by the ticker symbol “BCH”. Index market making will run with reduced volumes and increase spreads during that time. We would like to clarify that by only supporting Bitcoin Cash Node, we will not support any type of wrongly cross-chain deposits. Should you have any further questions, please do not hesitate to contact us at email@example.com
Lykke’s mission more important now than ever
Zug, Switzerland. – Nov 11, 2020. The Swiss start-up Lykke is getting closer to the approval for its license by the FINMA, the Swiss Financial Market Supervisory Authority. This license opens the possibility to operate as a securities trader and an organized trading facility at a time when a radical redesign of the financial system is drastically needed. It is becoming increasingly obvious that the existing financial systems and structures are no longer suitable to reflect the needs of modern society, politics and economies. Individuals, businesses and governments are all struggling with the inefficiencies of the current infrastructure, especially in times of crisis where quick actions are needed. Fortunately, Lykke has the answer to this problem. Lykke is a Swiss-start up whose vision is to use new blockchain-based technology to digitally tokenize assets of any kind. This will make any asset tradable and instantly accessible to anyone with a smartphone or computer. With Lykke, soon the everyday consumer will soon be able to buy any fraction of any share in a few clicks from anywhere; ⅓ of Nestlé? 1/10 of Apple? Whatever you want. The company’s Founder and CEO, Richard Olsen, is a pioneer in high-frequency trading (HFT). He co-founded the globally renowned OANDA, the first fully automated FX trading platform offering second-by-second interest rate payments. Olsen says “At Lykke we feel that the entire financial system needed to be changed. So far the system has only increased inequalities, preserved inefficiencies and fostered differences across societies. That’s why we are going to offer a new digital solution for a digital world. Tokenisation will be the arteries of this new system, allowing every organ of society to access the vital resources that nourish the system” explained Olsen. Crucially this will all be within the existing regulatory framework which guarantees the safety of the system, but also the buy-in from governments and regulators. Recently Lykke announced significant steps in its application process for the regulatory approval of its license, and an opportunity for interested investors to take part in their project (LINK). The revolution that Olsen has seen as inevitable for all of his 25 years of experience in the financial world maybe sooner than you think. About Lykke Lykke is a Swiss-based global fintech firm that utilizes blockchain and emerging technologies to provide solutions for consumers, investors, and corporations. By leveraging the power of a broader ecosystem, Lykke’s platforms eliminate barriers to market entry, solve inefficiencies within current economic systems, and democratize access to digital asset marketplaces. Learn more about Lykke’s work by visiting the website and following Lykke on Twitter and LinkedIn.
Lykke FINMA application in an advanced stage
Zug, Switzerland. – Nov 6, 2020 – Lykke Corp, the Swiss-based fintech firm and builder of marketplaces for digital financial assets, has taken significant steps closer to its vision of a more democratic and accessible financial system. Lykke has filed an application with the Swiss Financial Market Supervisory Authority (FINMA) for being licensed as a securities house and bilateral organized trading facility. The proceedings with FINMA regarding the granting of the license have reached an advanced stage. Soon, people in the street will be able to buy tokenized and fractional shares in companies and other assets listed on traditional stock exchanges whenever they want for 1, 2, 3 CHF - you name it. The unique Lykke blockchain-based infrastructure will be the means by which a seat at the table is finally opened up to the public. All the features of old and outdated technology that drives up costs and build barriers to the everyday user are eliminated while all the security and protection of regulatory compliance is retained. In line with these developments, Lykke will now begin a capital raising exercise, providing a unique investment opportunity on a first come first serve basis. For more information about this investment opportunity, please contact: firstname.lastname@example.org About Lykke Lykke is a Swiss-based global fintech firm that utilizes blockchain and emerging technologies to provide solutions for consumers, investors, and corporations. By leveraging the power of a broader ecosystem, Lykke’s platforms eliminate barriers to market entry, solve inefficiencies within current economic systems, and democratize access to digital asset marketplaces. Learn more about Lykke’s work by visiting the website and following Lykke on Twitter and LinkedIn. For more information please feel free to contact us at email@example.com.
Richard Olsen's statement in response to a recent article published about Lykke
As CEO of Lykke, I am both personally and professionally disappointed at the article published this morning on Insideparadeplatz which is lacking in factual accuracy and threatens to derail the Lykke project, the security of our staff, and, most importantly, our customers based on hearsay and rumour. The author of the article contacted me in the past days with several queries related to the content of the article published this morning. Far from being defensive, I in fact offered to meet him for a one-on-one interview to provide the clarity sought on these issues once and for all, and to show that Lykke has nothing to hide. I noted, owing to several commitments, my preference if this interview could take place during the upcoming week so that these matters could be treated properly and with the time needed to provide clarity. Unfortunately, I received no response from the author and instead see that the article has been published today without the required clarification. While we have several pressing strategic matters that require the full attention of myself and my team, I would still like to take this opportunity to engage some of the items mentioned in this article. Firstly as it relates to staff matters, it is factually incorrect that all employees have been served their notice as stated by the author. Owing to strategic transformation and restructuring in compliance with applicable laws several employees have either left Lykke or are in the process of leaving. Similar to any organisation, in particular fintech start ups, this is not the first time we have parted ways with staff members and unfortunately, it is unlikely to be the last. The current restructuring phase is still ongoing and we will have further staff departures by the end-November: all affected staff are aware of this and everything has been handled within the applicable laws and regulations. Some of the staff that Lykke parted ways with were indeed senior members of leadership. As any CEO will attest to, it is not unusual, but rather a reality of doing business: it is not the first time and it is unlikely to be the last. In short, there is nothing incorrect or unusual at hand in this regard, despite the indications of this article. Secondly, in regards to the status of investment and the financial situation of Lykke, under my leadership, we have always been transparent about our finances insofar as has been permitted under laws and regulations. The author makes reference by name to specific individuals and specific investment amounts. The amount of investment referenced here is factually incorrect. Of course, as any professional operating in the financial industry knows, we are not permitted to share details about individual investors or their respective investments owing to prevailing laws about privacy, amongst others. The balance sheet extract illustrated in the article is public information that has been published by Lykke on our website and communicated regularly to coinholders in detail at our annual meetings. The author infers that there is a funding gap of 40 million CHF which is again factually inaccurate and deeply misleading. The investment capital funding that Lykke has received has been overstated by the author and again, the specific liabilities to investors inferred in the article do not in fact exist at all. In relation to the immediate financial situation, it is true that the September salaries of the staff were paid after receiving a capital injection from investors. Lykke makes no secret of the fact that we are still leaning on investment to fund our efforts: this is the norm, not the exception for fintech start ups such as Lykke. Thirdly, Lykke has from the outset strived for operating as a regulated entity and applied to FINMA for a license as a securities trader and organised trading facility. Lykke is very close to getting such a license. Many competitors with much more funding have not come that far. Lykke welcomes public scrutiny and values the contribution of independent and inquisitive journalism to driving progress. With this in mind, while I find the contents of this article damaging and disappointing in its lack of grounding in facts and research, it serves to highlight the fact that Lykke has nothing to hide and will continue to place transparency and democratization of information at the heart of our mission. Richard Olsen CEO Lykke
How decentralized is the Bitcoin network nowadays?
Do you like Bitcoin because of its decentralized authority structure? Or perhaps you are interested in conspiracy theories? Well, in any case, take a big breath while we dive into one of the most interesting topics surrounding the Bitcoin network where we try to answer how decentralized is the network nowadays and what led us to this point.
The Value of Bitcoin
Unless you took the self-isolation to the extreme and you ended up practicing social media abstinence, you are assumedly aware of some of the recent events that allegedly led Bitcoin to the all-time highs we are all currently enjoying. So take a big breath while we break down the recent events of the crypto world and what they mean.
FCA - New Regulations Explained
The FCA created a Temporary Registration Regime to concede existing crypto-asset firms, which have applied to be registered with the FCA, to continue trading. It is important to note that this Temporary Registration Regime is only available to existing crypto-asset firms which have applied for registration before December 15th, 2020. New firms will need to obtain full registration with the FCA before conducting business.
What is a crypto-fiat gateway?
A fiat gateway is a combination of words that you will frequently hear if you decide to enter the cryptocurrency world and buy Bitcoin or other cryptocurrencies in a crypto app. To understand its meaning and function, you have to understand what fiat means. Fiat means simply conventional money, it refers to national currencies the government’s issue not backed by any commodity. It derives from the Latin word fiat (from “facere” - make/do, present passive subjunctive “let it be done”) and we can assume that it implies a deal - let it be done!
What is a Coin Burn?
As new tokens are mined and enter circulation every day, cryptocurrencies need to ensure that the market is not oversaturated with supply. After all, prices in the digital currency market are almost entirely dictated by the economic principle of supply and demand.