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.
European digital asset manager Coinshares is launching a new ETP product, the physically backed CoinShares Physical Bitcoin (Ticker: BITC) on the SIX Swiss Exchange today. The ETP enables investors to gain exposure to the price of bitcoin on a regulated European stock exchange.
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Juniper Research predicts that B2B cross-border payments on Blockchain will boom over the next five years. The report suggests that these payments will boom from $171 billion this year to $4.4 trillion by 2024.
Mike Cagney founded Figure Technologies uses the blockchain to process transactions on its lending platform. The use of the blockchain allows Figure to function paperless, and that helps to speed up its loan procedure.
Bitcoin rallied 16% after Chinese President Xi Jinping called for his country to “seize the opportunity” afforded by blockchain.
Speaking at a Politburo Committee session on blockchain technology trends Thursday, Xi told committee members: “We must take the blockchain as an important breakthrough for independent innovation of core technologies.”
According to Business 5.0 expert John Straw, the blockchain could well disrupt the City of London. And put paid to the taxes that the City generates.
An end to the stream of taxes from the City would effectively spell the end of the NHS. Blockchain-based financial services, based on technology such as Ethereum’s, could consign banks to the annals of history.
Hong Kong-based Liquefy will be the provider for a consortium of Gulf families on a real estate digital securities project. The program has $1 billion worth of real estate assets in the pipeline. The first “digitalized” asset will be a luxury hotel in the Mayfair district of London worth $600 million.
Boston-based financial group Fidelity thinks there is a profitable business to be made out crypto custody services and trading. It may be a smart move because there is a crying shortage of large, reputed players in the ‘Wild West’ world of crypto assets.
Fidelity is building upon its initial launch last autumn of “enterprise-quality” custodianship and trade execution services.
With a blockchain ID, your electric car could soon become a mobile wallet and pay for tolls, parking, and charging – no cash or cards needed.
BMW, General Motors, Honda, Ford, and Renault have partnered with the Mobility Open Blockchain Initiative (MOBI) to assign blockchain IDs to their cars. The unique ID of each car and its associated ownership data will allow for the car to automatically make payments. These car-related payments could be for charging, parking, highway tolls, and even rest stop snacks.
The Libra stablecoin, which is to be backed by a basket of fiat currencies, may change its model. David Marcus, Libra’s head, revealed this at a banking seminar.
“We could do it differently,” he said. “Instead of having a synthetic unit … we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stable coin, etc.”
According to The Logic, the Bank of Canada may be toying with the idea of issuing its own digital currency. One key, but a rather ominous advantage of a national digital currency listed in the presentation, is the sharing of personal information with the law enforcement or tax authorities.
In a significant disclosure, Federal Reserve Bank of Dallas President Rob Kaplan said the Fed is “actively looking at and debating” issuance of a US digital currency. The Fed could be mulling a US digital currency on fears that an upstart cryptocurrency could gain global adoption. The new currency may dislodge the US dollar from…
Could a new-fangled digital currency move the US dollar’s cheese? “Complacency in the face of this threat risks lasting damage to the U.S. economy,” warn the former CFTC officials.
In an op-ed for the Wall Street Journal, J. Christopher Giancarlo and Daniel Gorfine recommend a digital blockchain dollar. They say that recent developments in digital currencies threaten the dollar’s pre-eminent status as a global reserve currency.
The Wilshire Phoenix Bitcoin ETF has amended its Bitcoin ETF Filing with the SEC.
The SEC has invited public comments on the bitcoin exchange-traded fund proposal filed by Wilshire Phoenix Bitcoin ETF. This action follows a revised filing by the fund and NYSE Arca on October 4.
Layer1 is building a chips-to-substation crypto mining facility in Texas that will run on renewable energy.
Never mind that crypto mining is best undertaken in cool climes – Iceland, for instance. But Layer1 has an ace up its sleeve – a proprietary new technology for cooling the chips that mine cryptocurrencies. So the Layer1 crypto mining facility lies 150 miles west of Midland, Texas.
An advanced new blockchain-based ship registration system is under development.
The Singapore Shipping Association (SSA), the International Chamber of Commerce (ICC) and Singapore tech startup Perlin are jointly going to develop the International E-Registry of Ships. The new blockchain-based ship registration system will streamline, standardise and generally improve the current ship registration and renewal procedure.
The Libra cryptocurrency project has lost another major partner on Monday over regulatory scrutiny around the stablecoin. Today, Booking Holdings – the company behind Priceline, Kayak, and Booking.com – dropped out of the Libra Association.
Last week, eBay, Visa, Mastercard, and Stripe followed PayPal out of the Libra Association; now, the G7 warns against digital currencies.
Last week, fears of regulatory uncertainty (and repercussions) probably forced eBay, Visa, Mastercard, and Stripe to depart the Libra Association. They followed on the heels of PayPal, which walked out earlier.
Enterprise blockchain provider and payment network Ripple has tied-up with giant fintech Finastra.
The latter’s users can utilize Ripple’s blockchain based network and its RippleNet partners for cross-border payments.
RippleNet, a global blockchain payments network, has over 200 financial institutions as its global partners. These entities will also have access to Finastra’s massive global network of banks.
Facebook CEO Mark Zuckerberg will testify before Congress about his firm’s cryptocurrency project. Zuckerberg will speak before the House financial services committee on the launch of Libra.
CFTC Chairman Heath Tarbert has said that Ethereum is a commodity. During a talk at the Yahoo! Finance All Markets Summit, the CFTC chair said he doesn’t think ether is a security.
The SEC rejected the Bitcoin ETF proposed by Bitwise Asset Management and NYSE Arca. But Bitwise welcomed the detailed feedback and additional clarity.
Though the SEC rejected the Bitwise ETF, the negative thrust of its 112-page order centered around NYSE Arca’s proposed rule change to enable the listing of the Bitwise Bitcoin ETF.
Facebook’s Libra stablecoin project received another jolt when US Senators wrote an “or…else” letter to certain Libra Association members.
Senators Brian Schatz (D-HI) and Sherrod Brown (D-OH) wrote to the CEOs of Visa, Mastercard, and Stripe, urging them to be wary of their participation in Facebook’s Libra Association.
The Securities and Exchange Commission (SEC) rejected Bitwise Asset Management’s efforts to launch a bitcoin exchange-traded fund (ETF). The agency said that Bitwise’s proposal failed to meet legal requirements tied to market manipulation and other concerns. However, the SEC blamed NYSE Arca instead of Bitwise for the rejection.