Cryptocurrency 

Deutsche Bank Joins JPMorgan’s Interbank Information Network Platform

Germany’s largest bank, Deutsche Bank, has joined 320 other banks in the JPMorgan blockchain network, the Interbank Information Network (IIN). The move aims to lower cost for Deutsche Bank, which handles a vaster amount of euro payments relative to any other bank globally. This will also enhance cross-border transactions and thus avoid the costly lag periods. IIN Platform to Enhance Cross-Border Transactions According to the bank’s head of cash management globally, Ole Matthiessen, the Interbank Information Network will allow the bank to provide customers with enhanced services. He added that…

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Cryptocurrency 

France Pushes to Block Development of Libra in Europe

France’s Minister of the Economy and Finance has said the country will block the development of Libra in Europe as it threatens “monetary sovereignty.” Bruno Le Maire stated that he had serious concerns about the disruption the planned Facebook-led cryptocurrency could have on governments’ economic power at a meeting of the Organisation for Economic Co-operation and Development in Paris. “This eventual privatization of money contains risks of abuse of dominant position, risks to sovereignty and risks for consumers and for companies,” said Le Maire on the subject of Libra. Libra would be decentralized like…

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Cryptocurrency 

Crypto M&A Picks Up Momentum in Asia and Europe, Says PwC

Even a few years ago, not many would have thought that crypto M&A, or mergers and acquisitions, were ever going to be a thing. However, it needs to be kept in mind that the crypto space has grown and evolved at a remarkable pace over the course of the past few years. Nowadays, the industry surrounding cryptocurrencies has not only evolved dramatically, but an actual ecosystem has emerged. Key Details According to a new report by the consultancy firm PricewaterhouseCoopers, most of the fundraising, as well as M&A, work in…

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Cryptocurrency 

Telegram to Release TON Blockchain Code on September 1

Telegram will release the code required to run a Telegram Open Network (TON) node on September 1, according to individuals close to the project. The news was confirmed by two individuals familiar with the project, an investor and an affiliate with TON labs. There has been a high level of secrecy around the project, and some analysts have previously raised concerns regarding the lack of activity from Telegram on advancing its proposed blockchain. Francois Pouliot, a prominent crypto analyst, said, “Is the real use-case of blockchain technology the elaboration of…

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Cryptocurrency 

Alibaba and Tencent all Set to Get First Chinese Government Cryptocurrency

Ever since cryptocurrencies first captured the global consciousness a few years ago, several institutions from around the world have expressed their willingness to issue crypto tokens of their own and the most recent one is the Chinese central bank. A few weeks ago, it emerged that People’s Bank of China was all set to issue its own cryptocurrency and now it has emerged that the cryptocurrency is going to be disbursed to seven entities in the country. The update was revealed by the former global head of financial strategy at…

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Cryptocurrency 

Blockchain.com Partners with Payment Processor BitPay

Cryptocurrency wallet provider Blockchain.com has announced a partnership with a Bitcoin payment processor, BitPay. Through the partnership, Blockchain.com is expected to incorporate BitPay’s payment technology into its wallet service. Blockchain.com Users to Get Access to BitPay’s Network Blockchain.com is currently the world’s most popular Bitcoin wallet provider with over 30 million wallet users across 140 countries. The company, which was founded in 2011, mostly holds Bitcoin APIs in the wallets. BitPay has a global reach of more than 20,000 customers. BitPay’s collection of products enables users to send and receive…

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Cryptocurrency 

Facebook’s Libra | Coinbase’s Ex-Policy Head Will Lead Lobbying

In July, tech giant Facebook (NASDAQ:FB) announced that it was going to launch its own cryptocurrency named Libra, and since then, it has lurched from one problem to the next. Policymakers from all across the world, including the head of the US Federal Reserve and US President Donald Trump, expressed their skepticism about Libra soon after. Hence, it is quite clear that Facebook is currently at a loss as to how to tackle the myriad of policy issues that are going to arise with the launch of Libra. However, it seems…

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Cryptocurrency 

tZERO, Overstock’s Crypto Platform, Loses a Major Investor

Overstock’s security token platform, tZERO, has lost a major investor following the departure of CEO Patrick Byrne last week. Another Blow for tZERO During interim CEO Jonathan Johnson’s very first investor call in his new role, he confirmed that Makara Capital “will be not investing in tZERO right now.” However, he did mention that Makara would continue to monitor the development of tZERO and possibly reconsider in the future. The news is another blow for Overstock’s security token platform, as in August 2018, Overstock announced that Makara would invest $404 million USD…

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Cryptocurrency 

Investors Consider Cutting Ties with Facebook’s Libra Amid Regulatory Scrutiny

At least three investors in Facebook’s Libra cryptocurrency are considering disassociating with the currency following intense regulatory pushback. According to a report published in the Financial Times on Friday, some backers are fearful that the spotlight placed on the social media giant’s proposed cryptocurrency will also bring their own separate, independent businesses into disrepute. Two founding partners have allegedly held discussions with regard to what the “right next steps” should be for their investment. “I think it’s going to be difficult for partners who want to be seen as in compliance [with their…

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Cryptocurrency 

New Zealand Tax Authorities Give the Go Ahead for Crypto Payroll

The crypto train has not yet stopped chugging along. More and more companies and countries are looking to get involved in the crypto sector, despite the hardships it has faced the past year. New Zealand just so happens to be the latest country, with reports coming out on Tuesday that said the sovereign island country will allow employers to pay their workers in cryptocurrency. Here’s everything we know. New Zealand Allows Employers to Pay Staff in Cryptocurrency This month, New Zealand tax authorities published a ruling that featured a section…

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