Digital Assets
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.
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Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers stand to receive up to 1 BTC as a reward when signing up and can earn an additional 1 BTC for each successful referral. The platform claims to be the sole custodial crypto platform in the EU offering customers a percentage of their trading volume back every month, paid in Bitcoin.
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More Stories on Digital Assets
Digital Assets: Insurance Market Evolving in Step With Growth of Cryptos
Insurance coverage for digital assets is gradually adapting to the rapid changes and growth in crypto assets, says a presentation by Marsh JLT Speciality, a global leader in risk management and insurance broking . However, 2020 will be the test year for digital assets’ insurance.
Digital Assets: Will Bitcoin be the New Gold Standard Backing ‘Fiat’ CBDCs?
The Gold Standard, which Nixon junked in 1971, might come back in a new avatar: Bitcoin
According to Hans Hauge, a crypto asset investment analyst at Ikigai Fund, bitcoin and not gold, is the most suitable asset to back the oncoming rush of Central Bank Digital Currencies (CBDCs) from various countries.
Digital Assets: Covantis, a Blockchain-based Agri-business Platform, Ties With ConsenSys
Covantis is a blockchain-focused project backed by multinational agri-business companies Cargill, Archer Daniels Midland Company, Bunge and Louis Dreyfus Company. Launched in 2018, the project aims to digitize the firms’ global shipping transactions using distributed ledger technology (DLT) and AI.
Covantis and Consensys will set up the blockchain-powered platform. The founding firms have also announced covantis.io, the new website for the project. The platform will launch this year and will initially focus on digitizing grain and oilseed post-trade execution.
Digital Assets: Tether Gold is a New Gold-backed Crypto-Asset
Tether announced the launch of the Tether Gold (XAU₮), a digital token that is backed by collateral of physical gold (XAU). These tokens can be held in a Tether wallet and reside as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain, according to a Tether announcement.
One token represents ownership of one troy fine ounce of physical gold, currently worth approximately $1,581.
Digital Assets: Ray Dalio – Cash is trash; BTC is Untouchable; Libra Maybe; Stocks are Good; Gold is Best
Ray Dalio, a long time bitcoin sceptic, again panned the cryptocurrency at Davos. Cash is trash; BTC is Untouchable; Libra Maybe; Stocks are good; Gold is Best, he said.
Digital Assets: Square Granted US Patent For New Currency Exchange Network Including Cryptos
Payments processor Square won the US patent number 10,540,639 titled “cryptocurrency payment network” for a new network that could seamlessly process crypto-to-fiat transactions and the reverse. The transactions would occur automatically, in real-time, and instantly.
Digital Assets: UAE a Flag-bearer for Blockchain Technology Deployment
The UAE is a Flag-bearer for Blockchain Technology Deployment. A joint white paper has been issued by the World Economic Forum and the United Arab Emirates’ Centre For The Fourth Industrial Revolution. Titled “Inclusive Deployment of Blockchain: Case Studies and Learnings from the United Arab Emirates,” the paper provides global decision-makers insights into the UAE’s experience with blockchain implementation.
Digital Assets: Bitwise/ETF Trends 2020 Survey – 65% Advisors Want to Buy Bitcoin in an ETF
The Bitwise / ETF Trends 2020 Benchmark Survey of Financial Advisor Attitudes Toward Cryptoassets gives useful insight into what advisors are thinking about Bitcoin and cryptos going into 2020. ETFs and passive investing being the flavor of the season it’s easy to conclude that a Bitcoin ETF could prove immensely popular. Note that financial advisors manage roughly half of all wealth in America.
Digital Assets: The Digital Dollar Foundation and Accenture Launch the Digital Dollar Project
J. Christopher Giancarlo, former Chair of the Commodity Futures Trading Commission (CFTC), along with Charles Giancarlo and Daniel Gorfine, have joined hands with Accenture on the digital dollar, or US CBDC project.
The nonprofit Digital Dollar Foundation engaged Accenture as the lead architect and technology innovation partner for the project. Accenture is working with Sweden’s Riksbank to develop an e-krona CBDC as a pilot project.
Digital Assets: In Reforms Push, China Mulling Rules for New Digital Banks, Including by Foreigners
China is working on guidelines for the establishment of online-only banks.
Chinese regulators are pushing for the establishment of new, 100% digital banks to reduce risk in the country’s financial sector. They also want to broaden Chinese banking by allowing participation from new players including foreigners.
Digital Assets: “Its Utility Will Drive The Value of Bitcoin, Not Speculation,” Says Bitcoin Jesus
Roger Ver, nicknamed Bitcoin Jesus for his championship of the digital currency, says BTC is now a pyramid scheme.
Speaking to BlockTV, Ver said the sole argument in favor of continued adoption of Bitcoin Core was the assumed appreciation in its value. In contrast, Bitcoin Cash rested on the bedrock of its utility for people.
Digital Assets: Fidelity Digital Assets UK To Provide Bitcoin Custody Services to European Fund
The UK-regulated Nickel Digital Asset Management announced Tuesday it’s launch of the Nickel Digital Gold Institutional Fund, its second cryptocurrency offering. The digital assets of the fund will be secured using long-term cold storage provided by Fidelity Digital Assets. For Fidelity, Nickel Digital represents its first European partner fund.
Fidelity Investments, the $7.8 trillion investment management giant, incorporated its UK arm on December 16, 2019. Its brief: to provide crypto services to European businesses, hedge funds, and family offices.
Digital Assets: Two Blockchain Devices That Pressed The Right Buttons at CES 2020
Device security fanatics will welcome the blockchain based phone and camera. CES 2020 did – with innovation awards.
The Consumer Electroncis Show (CES) 2020 at Las Vegas honoured the Blok on Blok (BOB) phone from Pundi X and the UCAM camera from IoTeX with CES 2020 Innovation Awards, reports coindesk.
Both products rely on the blockchain to address privacy and security concerns.
Digital Assets: CME Options on Bitcoin Futures Now Trading
CME commenced trading in Bitcoin options on Monday.
On the first day of trading, Bitcoin options worth $2.19 million traded on CME. This was ahead of the volume of $1.15 million traded on the rival Bakkt exchange.
ETF Challenger WisdomTree Wants to Launch a Stablecoin
WisdomTree is pushing to launch a regulated cryptocurrency in the U.S. markets. The firm’s stablecoin would be pegged against a basket of assets – which could include government debt, the U.S. dollar or even gold.
Digital Assets: The Insight Partners-Armis Deal Will Mint Millionaires by the Dozen
Venture Capital and private equity firm Insight Partners said Monday that it would acquire Israeli cybersecurity startup Armis at a valuation of $1.1 billion, said The Jerusalem Post.
Though Insight did not disclose the sale price, it will pay it in cash. Alphabet’s private equity arm, CapitalG, will participate for $100 million, while certain existing stockholders will rollover holdings.
The transaction is the biggest acquisition so far of an Israeli cybersecurity firm.
Digital Assets: Qatar Bans Crypto
Qatar has followed up a ban on digital asset services with another on crypto trading.
The Qatar Financial Centre (QFC) Regulatory Authority deemed last week that “virtual asset services may not be conducted in or from the QFC at this time.”
The order also banned Qataris from converting digital assets into fiat, or from exchanging one virtual asset for another. The safekeeping and administration of virtual assets or instruments enabling control over them are also banned.
Digital Assets: South Korea Backtracks on its Central Bank Digital Currency
South Korea may consider a central bank digital currency (CBDC) after all.
Contrary to indications it gave in January 2019, the Bank of Korea said on December 1 that “we are considering issuing digital currency (CBDC).”
That’s a huge about-turn from its January stance when it said in a report: “There is no plan to issue a CBDC in the near future because CBDC is not incentive to respond to the reduction of cash use or to increase financial inclusion.” (translated)
Digital Assets: Fraudulent, Unregistered Crypto Firm That Stole from Investment Advisors Shut Down
Secretary of State Jay Ashcroft’s Securities Division issued a final order to cease and desist against unregistered firm Mavixbtc Limited.
Mavixbtc had fraudulently represented itself as registered with both the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. To do this the firm used false registration numbers.
Digital Assets: A Chinese Blockchain ETF May Soon See The Light of Day
Shenzen-based fund manager Penghua Fund applied to China’s Securities Regulatory Commission for approval to launch an ETF tracking listed stocks related to blockchain. Penghua applied on December 24 for the ETF. It would be China’s first blockchain-based ETF.
Digital Assets: Gear Up for New Threats From “Financially Motivated” Bad Actors, Says Kaspersky
According to leading cybersecurity firm Kaspersky Lab, hackers and cybersecurity criminals will up their game in 2020. Drawing on their experience through 2019, Kaspersky researchers have identified the key areas that these cyber attackers will target in 2020 and beyond. As 2020 looms, prepare to face cybersecurity threat actors with dollar signs in their eyes.
Digital Assets: Millennials Trust Bitcoin Over Berkshire Hathaway
Millennial investors trust Bitcoin more than Berkshire Hathaway, according to a new report from Charles Schwab. The investment bank examined self-directed portfolios of millennial investors. It found that the majority of younger investors had more exposure to the world’s largest cryptocurrency than it did to Warren Buffett’s conglomerate.
Digital Assets: James Altucher’s 2020 Bitcoin Prediction Will Miss by More Than $992,000
James Altucher is best known for his hedge fund, his Choose Yourself messaging, his iconic hair, and an ultra-bullish stance on Bitcoin. The former hedge fund manager’s crypto-newsletter advertisements also followed readers around the internet.
Digital Assets: Crypto Hedge Funds Shuttered in 2019 At a Stunning Pace
Crypto hedge funds shuttered at a rather alarming click in 2019. According to Crypto Fund Research, 70 such funds had closed by early December. That means there was still time for another few of these funds to close as the month comes to a close.