Month: January 2019

StanChart’s Singapore Unit Completes First Blockchain-Powered Trade Finance Deal

StanChart’s Singapore Unit Completes First Blockchain-Powered Trade Finance Deal

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
The Singapore unit of London-headquartered multinational banking and financial services firm Standard Chartered has completed its first blockchain-powered trade finance deal. The news was reported by Singapore’s English-language financial daily The Business Times on Jan. 24.The bank reported that the blockchain solution — developed by blockchain startup Distributed Ledger Technologies — had enabled an agri-business supply chain deal to be completed within just one day, instead of the typical five to seven days.As of 2017, trade finance transactions were worth over $9 trillion, and the industry remains heavily reliant on legacy systems and cumbersome paper-based systems.According to a 2017 annual report, StanChart has more than $600 billion in assets on their balance sheet.StanChart undersc
OKCoin Founder Buys Hong Kong-Listed Firm in $60 Million Deal

OKCoin Founder Buys Hong Kong-Listed Firm in $60 Million Deal

Coin Desk
Mingxing “Star” Xu, the founder of cryptocurrency exchange OKCoin, has become the largest individual shareholder of a public company listed in Hong Kong via a $60 million acquisition. LEAP Holdings Group, the construction engineering firm acquired, announced the competed deal on Wednesday. OKC Holdings Corp, the parent company of OKCoin, purchased about 3.2 billion shares of the company for HK$0.15 (around $0.02) per share to achieve the takeover, it said. OKC Holdings is now the largest shareholder of LEAP Holdings, owning 60.49 percent of its stock and having the same percentage of voting rights. As a result, the exchange is a step closer to a possible back-door listing on the Hong Kong Stock Exchange (HKEX). Xu holds the majority stake in OKC Holdings with 52.32 percent ownership throug
Hong Kong Stock Exchange Head Hints at Incompatibility of Bitmain IPO

Hong Kong Stock Exchange Head Hints at Incompatibility of Bitmain IPO

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
The head of the Hong Kong Stock Exchange (HKEX) has addressed queries about initial public offering (IPO) listings amid confusion over Bitcoin mining giant Bitmain’s application. English-language newspaper South China Morning Post (SCMP) reported the comments on Jan. 24.Speaking at the ongoing World Economic Forum (WEF) in Davos, Switzerland, HKEX CEO Charles Li Xiaojia said that it was important IPO candidates were consistent about their business offerings.“If a company made billions of US dollars through Business A, but suddenly said it will do Business B without showing any performance, or said Business B is better, then I don’t think the Business A featured in their application will be sustainable,” the SCMP quoted him as saying. Xiaojia continued:“Besides, if regulators were hands off
New Crypto Valley Top 50 shows Swiss Blockchain industry defying ‘crypto winter’

New Crypto Valley Top 50 shows Swiss Blockchain industry defying ‘crypto winter’

CRYPTOCURRENCY
The recent fall in crypto currency prices saw the market valuation of the 50 largest Blockchain companies in Switzerland and Liechtenstein’s Crypto Valley plunge from US$44 billion to $20 billion in the fourth quarter of 2018. Over the same period, however, the number of participating companies soared by 20% from 629 to 750. Among them are four so-called ‘unicorns’ – start-ups already worth billions of dollars. Davos, January 24, 2018 – Investment company CV VC, in collaboration with PwC Strategy & and IT partner inacta, has published its new quarterly list of the largest and most important companies in Switzerland and Liechtenstein’s Crypto Valley Blockchain cluster. The survey finds that, at the end of December 2018, the cluster contained 750 companies using the distributed ledger te
US: New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020

US: New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020

COINTELEGRAPH, CRYPTOCURRENCY
Lawmakers in the U.S. state of New Hampshire are currently considering a bill to legalize payment of fees and taxes in Bitcoin (BTC), documents originally published on Jan. 3 reveal.NH HB470 is currently making its way through chambers of the local government, with a public hearing to introduce having took place yesterday, Jan. 23.A subcommittee is due to examine it on Jan. 29, with a due date for a decision set for Mar. 14, a summary of the bill’s passage confirms.Sponsored by Republicans Dennis Acton and Michael Yakubovich, the bill is the latest attempt to get New Hampshire to accept Bitcoin for state payments, with the idea first surfacing in 2015.“This bill requires the State Treasurer [...] to develop an implementation plan for the state to accept cryptocurrencies as payment for taxe
Hyperledger Launches Framework to Help Developers Deliver Blockchain-Based Supply Chain Solutions 

Hyperledger Launches Framework to Help Developers Deliver Blockchain-Based Supply Chain Solutions 

BLOCKCHAIN, BTC MANAGER
Hyperledger, a collaborative project focused on advancing cross-industry blockchain technologies, has announced the creation of Grid, a framework aimed at enhancing the development and delivery of distributed ledger technology (DLT)  powered solutions for the supply chain ecosystem, according to a press release on January 22, 2019. Hyperledger Grid Framework Goes Live While distributed ledger technology has proven over time that it has much to offer to the global financial industry, the supply chain is another critical area of the economy where the burgeoning technology is fast gaining traction. With Grid, Hyperledger has now offered shared, open, and reusable tools to make life easier for developers creating relevant blockchain solutions The team says Hyperledger Grid seeks to assemble

Crypto Market Update: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis

BITCOIN CASH, EOS, NEWSBTC
The total crypto market cap tested the $117.50B resistance and later corrected lower.EOS price is currently correcting lower and it may test the $2.40 support level.Bitcoin cash price tested the $130 resistance and it is currently moving lower towards $126.Tron (TRX) price remains in an uptrend and it could accelerate towards the $0.0300 level.Cardano (ADA) price settled above $0.0420 and it is currently consolidating in a tight range.The crypto market started a downside correction after yesterday’s recovery. Bitcoin (BTC), EOS, Ethereum, BCH, ripple, ADA and altcoins are approaching key supports where buyers could emerge.Bitcoin Cash Price AnalysisBitcoin cash price made a nice upward move above $126 and $128 against the US Dollar. BCH/USD even broke the $130 resistance level, but it fail
Crypto Markets Unphased by Latest ETF Withdrawal

Crypto Markets Unphased by Latest ETF Withdrawal

BITCOIN, Coin Desk
The cryptocurrency markets remain unphased after an ETF withdrawal announcement on Wednesday did little to affect bitcoin’s price. The Cboe BZX exchange has withdrawn a proposed rule change that would have otherwise paved the way for an ever-elusive bitcoin exchange-traded fund (ETF) backed by VanEck and SolidX. The announcement, however, did little to spur investors into selling, who so far have held their ground at the day’s close, leaving others to speculate that the events of the day were already priced in days before. Daily chart The daily chart shows stagnation for the entire trading session with a small $80 range bound candlestick providing evidence of little interest in the bitcoin and crypto market in the last 24 hours. Total growing volume has dropped significantly in recent wee
Coinbase Unveils Services for High-Volume Crypto Investors in Asia and Europe

Coinbase Unveils Services for High-Volume Crypto Investors in Asia and Europe

BITCOIN, BTC MANAGER
On January 22, 2018, Coinbase, the American cryptocurrency exchange, announced the launch of new trading and custody services for Coinbase Prime and Coinbase Pro which will allow high-volume investors in Asia and Europe to trade virtual currencies, make cross-border payments, and store digital assets in its cold storage. Coinbase Leading the Crypto Revolution On its blog, Coinbase revealed the launch of new features and services for its suite of products such as Coinbase Pro, Coinbase Prime, and Coinbase Custody which can be used by high-volume investors in Asian and European regions. According to the exchange, as from January 22, 2019, Coinbase Prime customers in either continent can use its professional trading platforms to deposit, withdraw, and trade USD for virtual currencies. At the ...
New Exchange Claims It Can Tokenize Shares of AirBnb, Uber, SpaceX

New Exchange Claims It Can Tokenize Shares of AirBnb, Uber, SpaceX

Coin Desk
Crypto startups Zilliqa and MaiCoin have teamed up to create a centralized security token exchange in Singapore that will apply blockchain technology to the trading of traditional asset classes. Launched today, Hg Exchange aims to act as a “one-stop solution” for token issuers, buyers, sellers and market makers, providing participants access to privately held shares and security tokens. Hg claims to be the first “member-driven exchange” in southeast Asia seeking to merge the traditional finance industry with the nascent crypto space, meaning any participants in the platform must go through the licensed financial intermediaries attached to the exchange. Further, the exchange said it hopes to provide investors access to both new ventures and established, closely held tech giants: “It is envi