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.
The Chinese ride-hailing megacorp, DiDi Chuxing, has agreed to collaborate with the Digital Currency Research Institute of the People’s Bank of China (PBoC) on the DCEP – the CBDC under development by China. According to another report, Meituan, the major eCommerce service platform with over 240 million consumers and five million local merchants, as well as video-sharing site Bilibilibili, has begun to cooperate with banks developing the digital yuan.
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More Stories on Digital Assets
Cache Private Limited is licensed under Singapore’s Ministry of Law under the Precious Stones and Precious Metals Dealers (Prevention of Money Laundering and Terrorism Financing) Act (PSPM Act) of 2019. The provider of fully-redeemable digital assets backed by gold has tied up for a custody solution with digital assets custody service provider Onchain Custodian Private Limited.
Andreessen Horowitz, the hallowed venture capital firm from Silicon Valley, has pulled off a coup by raising $515 million for its second crypto-facing fund. The fund will invest in late-stage networks, payment blockchains as well as decentralized finance (deFi) initiatives.
US exchange operator Nasdaq, which embraced the blockchain as early as 2010, has tied up with R3 for building full lifecycle solutions for digital assets market places. Nasdaq will utilize R3’s enterprise blockchain software Corda, and its professional services and support for the purpose.
Founded in 2019, Arrano Capital is the blockchain arm of Venture Smart Asia Limited. On April 20, Venture Smart Asia got the approval from the Hong Kong Securities and Futures Commission to launch the territory’s first regulated virtual-assets fund. The approval let Arrano Capital set up its bitcoin tracking fund, one that could invest 100% in virtual assets.
Whereas the value of stocks and bonds has declined due to the coronavirus pandemic, digital assets have not fundamentally lost value, says Jeff Dorman, chief investment officer at Arca. Further, investors are beginning to think more about the “return of capital” than “return on capital,” writes Dorman in an article titled “Digital Assets Are More Recession-Proof Than You Might Think.”
As the coronavirus pandemic rolls across the globe it has created a severe shortage of supplies such as masks, gowns, sanitizers, test kits, gloves, ventilators, thermal scanners, consumables, and medicines. The huge unmet demand has attracted many new suppliers who have shifted from their usual line of business to make and/or supply these products for COVID-19. IBM (NYSE: IBM) has established a blockchain-based platform to bring these new suppliers and COVID-19 buyers together.
Coronavirus-related market volatility lent a huge boost to the lending activity of crypto lender dYdX. About 70% of the total amount of $ 1.14 billion which it lent over the past 12 months was borrowed during the virus-stricken months of February and March.
Crypto.com users can withdraw USD from their App by selling crypto to their USD fiat wallet and transferring USD funds from this wallet to their U.S. bank account(s) on the Automated Clearing House (ACH) network. This is a frequently requested feature that further strengthens the utility of the Crypto.com platform,” the cryptocurrency company wrote in a blog.
The Winklevoss Brothers’ Gemini Custody and Exchange announced that it successfully completed the AICPA’s SOC 1 Type 1 examination, which covers the financial operations and customer reporting controls of the exchange and Gemini Custody.™
In a post in Medium, Jan Kowalski, a self-proclaimed hater of scammers, warns the unwary of the old chestnut: “if it sounds too good to be true, it probably is.” Kowalski writes about a very cool website called StakedWallet which promises returns of 1.5% daily on investments. Unfortunately, it bears an unholy resemblance to a previous Ponzi scheme and scam.
Investors are putting a premium on digital assets that are focused on privacy according to the latest crypto report from eToro and The Tie. The report named digital tokens Zcash (ZEC) and Monero (XMR) that outperformed bitcoin during 2019, and continue to do so in Q1 of 2020.
Changpeng Zhao (CZ), chief executive and founder of leading cryptocurrency exchange Binance, spoke on the prospects of bitcoin (BTC) amidst the coronavirus. He was speaking at the Virtual Blockchain Conference BlockDown 2020 being held in response to the pandemic between April 16 – 17.
The Agriculture Bank of China is making available a new mobile app to a select group of users. It appears to be downloadable from a website link (currently down) provided by the Bank. According to a report, the bank is perhaps launching a test run for the country’s virtual currency. It is also known as a central bank digital currency (CBDC), or in China, as DCEP.
Online brokerage TradeStation’s subsidiary, TradeStation Crypto, will integrate with crypto exchange ErisX’s order book in a tie-up announced Wednesday. The partnership will encourage TradeStation customers to try their hand at crypto trading. More seasoned traders will appreciate the deeper liquidity and tighter spreads.
The Huobi Group’s Star Atlas is a proprietary on-chain analytics tool to monitor on-chain cryptocurrency transactions for illicit activities. One of its main purposes is to detect and deter illicit activities and criminals. Huobi also wants to address regulators’ worries that cryptocurrencies are a hotbed of criminal activity.
On April 10, there were waves in the crypto world when a massive bitcoin transaction of 161,500 bitcoin (BTC) occurred at a fee of 0.00010019 BTC.
Translated to US$ the two sides of the equation equal to $1.1 billion vs charges of $0.68. Don’t even try to work out the percentage on that one
The new $100 million Digital Asset Fund from Exponential will change that preferential treatment. Now retail investors can invest even $500 in diversified digital assets. These are companies of the future that bet on the promise of emerging and distributed ledger technologies to transition the market to a new, open, and enhanced digital economy.
Litigation boutique Roche Cyrulnik Freedman unleashed Friday a torrent of class action lawsuits against seven cryptocurrency issuers and four exchanges according to Reuters. The plaint: These entities allegedly sold crypto assets worth billions of dollars to investors without complying with U.S. law relating to securities. The suits allege that the defendants did not register the digital assets with regulators and that the exchanges made money from listing the unregistered assets. The defendants include exchanges Binance, Bibox, BitMex and KuCoin, and issuers Tron, Block.one, Bancor, Civic, Kybercoin, Status, and Quantstamp. However, what really are the chances of these lawsuits succeeding? Lawyer Cal Evans weighs in on the subject.
Hong Kong-based Hex Trust is pushing the envelope with technological innovation.
Hex Trust provides secure, enterprise-grade and compliant custody solutions for digital assets to institutions. It announced April 1 the integration of its Hex Safe custody solution with R3’s Corda enterprise blockchain.
The 2nd edition of PwC’s Global Crypto M&A and Fundraising Report is out. The report highlights the key trends that prevailed for crypto fundraising and M&A during 2019. The crypto ‘winter’ in deal-making and funding continued in 2019.
Revolut is now opening up crypto trading to all 10 million of its users. The facility was previously available only to its Premium and Metals classified customers. Standard users may trade cryptos at a flat fee of 1.5% per trade. However, with effect from May, the fee will rise to 2.5%.
Civic Technologies along with Coincover launches a unique and first-of-its-kind crypto wallet offering a US$1 million protection guarantee.
Crypto derivatives exchange ZUBR has gone live. It offers a fee structure that is the lowest in the market and an industry-grade, high-performance trading service for digital asset derivatives. Traders can take positions on perpetual crypto derivatives with 20X leverage.