Digital assets are about more than just Bitcoin. The global adoption of blockchain, expansion of cross-border payments, new investment vehicles tied to intellectual property, and more, could one day establish a global market of digitized assets worth $50 trillion. This channel provides access to the latest developments, opportunities, risks, and thought leaders in the growing Digital Assets space.
JPMorgan (NYSE: JPM) analysts issued a note on Friday that said millennials’ preference for cryptocurrency over gold could lend a bullish tailwind to bitcoin in the coming years. Millennials would constitute an important segment of the investment fraternity and that could tip the scales in favor of BTC versus the yellow metal.
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More Stories on Digital Assets
The World Federation of Exchanges (WFE) is an industry group for exchanges and central counterparties (CCPs). It has asked the UK’s Financial Conduct Authority (FCA) not to impose its crypto-derivatives ban on sale to retail customers. However, it said it fully supported the regulator’s intention to protect vulnerable customers.
Coinbase CEO Brian Armstrong assailed the US’ approach to Facebook’s Libra cryptocurrency in the light of the threat from China’s stablecoin.
“Now that China is looking into creating a stablecoin, I wonder if the U.S. will reconsider its ridiculous response to Libra, Armstrong tweeted. “There are many cryptocurrencies, and Libra is just one of them. But the way the U.S. government reacted, it’s like they almost want to be left behind.”
China Coin will try to beat Facebook’s Libra to the market. Chinese financial experts believe that Libra would have such an impact on the economy that they are pushing their government to beat the rival cryptocurrency to the market. The “crypto space race” kicked off in July when multiple outlets reported that China was considering its own coin.
A digital central bank currency could be in the works after the implementation of the new FedNow real-time payments system.
America’s own digital central bank currency is all but ‘inevitable,’ said Patrick Harker, Philadelphia Fed Reserve president.
Bitcoin is the best performing asset year to date. After a power-packed rally during the first nine months of the year, the crypto is up 114% at $8,308.
In comparison, ‘also-ran’ traditional investments fared as follows: Tech stocks +31%; S&P500 +21%; Gold +17%; 10-year T-bond +1.6%.
Had it not been for a recent correction from the high of $12,900 in June, Bitcoin’s returns might have been even more impressive.
The Apollo Decentralized Exchange (DEX) is open for business. Apollo Foundation has announced the launch of what it calls “a proprietary software package for the exchange of digital assets in peer-to-peer networks.”
Digital currency may come to the Federal Reserve in the future. Philadelphia Federal Reserve President Patrick Harker expects that the U.S. central bank will begin issuing a digital currency.
McAfeeDex is poised to launch on Monday. Bitcoin advocate John McAfee announced the launch of his latest crypto project on Friday.
Paypal was a prominent absentee at a crucial strategy meeting of the Libra Association held in Washington Thursday.
The 28 member Libra Association backs Facebook’s globe-spanning plan for the Libra digital currency. According to a report in the Financial Times, the agenda for the meeting was the global groundswell of regulatory opposition to Libra.
A person familiar with the event confirmed to the FT that all members showed up for the meeting except PayPal.
State Street, the huge custody bank which holds assets of over $30 trillion, may soon see a flood of blockchain-based digital assets. According to Jay Biancamano, State Street’s head of digital assets and blockchain in capital markets, historically illiquid assets may soon use the blockchain to become more liquid.
No one thought setting up a globally acceptable cryptocurrency such as Facebook’s Libra would be easy. But the Libra Association’s upcoming meeting in Switzerland may show which of its members are in for the long haul.
The Facebook Libra cryptocurrency project could lose key partners, according to the Wall Street Journal. However, the report did generate a response from David Marcus and Facebook.
John McAfee explains in a Forbes interview why he thinks Bitcoin will climb to $1 million by 2020.
McAfee’s bitcoin prediction, famously made in 2017, is still alive and kicking despite the stomach-wrenching volatility in the value of the cryptocurrency.
John McAfee is a colorful tech personality who founded computer firm McAfee Associates. He is also a 2020 United States presidential campaigner.
Wave Financial is addressing the fast-developing interest in option strategies in the cryptocurrency sector with its Wave Bitcoin (BTC) Income and Growth Digital Fund. The Wave Financial fund will hold reserves of Bitcoin (BTC) in the custody of Fidelity Digital Assets. The fund will generate income by earning a premium from selling call options on the fund’s BTC reserves with strikes 20% or more above the current BTC trading price.
Ant Financial and Bayer Crop have signed an LOI to develop a blockchain-powered platform to monitor agricultural production jointly.
The new system will boost efficiencies in agricultural production. It will also ensure that consumers receive high quality and safe food, at the same time enhancing farmers’ income.
A new YouGov survey suggests that more Americans than ever are learning about cryptocurrencies. The survey shows that 81% of Americans have heard of at least one cryptocurrency.
The SEC’s Framework for “Investment Contract” Analysis of Digital Assets has given a group of plaintiffs more power to their elbow in a May 2018 lawsuit.
The investors have amended their complaint based on the Framework. The amended complaint reinforces their contention that they were illegally sold XRP, a digital cryptocurrency, as an unregistered security.
Investors amended their complaint in a May 2018 lawsuit regarding the XRP cryptocurrency, relying on SEC’s guidance on digital assets. The SEC’s Framework for “Investment Contract” Analysis of Digital Assets has given a group of plaintiffs more power to their elbow in a May 2018 lawsuit. Accordingly, the investors have amended their complaint based on…
Arab Bank Switzerland, a leading Swiss private bank, will provide custody and brokerage services for Bitcoin and Ethereum.
The bank will target high net worth clients for the services. It will become one of the first private banks in Europe to offer such facilities for digital assets.
The project now serves 320 banks around the globe on cross-border payments The JPMorgan Blockchain Project just got another big player in the blockchain game. Deutsche Bank has joined JP Morgan Chase’s Interbank Information Network (IIN). This is the financial industry’s single largest blockchain initiative. The data-sharing product features the connection of 320 banks on top…
Marshall Islands snubbed the IMF and overcame initial US Treasury objections to its issue of a state-backed digital currency
The tiny Pacific republic is about to fructify its year-long effort to escape dependence on the US dollar.
Formally known as the Republic of Marshall Islands (RMI), the US associated state will soon issue its own digital currency dubbed the Marshallese sovereign (SOV)
Bertrand Perez, General Director of the Libra Association, said Facebook would not delay the launch of Libra
In an interview with online French news site Les Echos, Perez confirmed that the association would launch Libra in the second half of 2020. “We are firmly maintaining our launch schedule,” he said.