World’s Largest ETF Provider looking at Cryptocurrencies

BlackRock Inc., widely considered as the largest asset manager for ETF (Exchange-Traded Fund) is said to be exploring the possibility of dipping their feet into cryptocurrencies and looking at ways on how they can participate legally in the space.

This is despite its initial skepticism towards cryptocurrencies.

They also said that BlackRock has assembled a working group which consist of members from different divisions including a multi-asset investment strategist, Terry Simpson.

Their ultimate goal is to determine if they should get involved in the said field.

The news was revealed by insiders that are familiar with the matter.

Trio Acquisition By Coinbase Approved

Coinbase Inc. has revealed that it has gained approval for trio acquisition that will enable it to trade security tokens be the first federally regulated venue to do so.

The Financial Industry Regulatory Authority approved Coinbase’s purchase of Keystone Capital Corp, Venovate Marketplace Inc. and Digital Wealth LLC.

With this acquisitions Coinbase can now operate as a broker dealer, an alternative trading system and a registered investment adviser.

However despite this recent acquisitions the company’s spokesperson reveals that there are more steps and conversatiosn needed with regulators before customers of Coinbase can trade securities token in its platform.

HK Blockchain Trade Finance Live On September

The de facto central bank of Hong Kong, The Hong Kong Monetory Authority (HKMA), is said to launch its blockchain trade finance platform within two months.

The Trade Finance Platform is a Blockchain project initiated by 7 banks in Hong Kong and has been facilitated by HKMA.

According to reports 21 banks will become participating nodes which includes HSBC and Standard Chartered.

It was revealed by a representative of HKMA that the main aim of the platform is to reduce fraud related to trade finance and double financing which will lead to increased credit availability and lowered financing costs in the long run.

World’s First Crypto Exchange That Is Backed By A Bank

SBI Holdings, Japanese financial giant has formally launched what many believe to be the world’s first bank-backed cryptocurrency exchange.

The exchange dubbed as VCTRADE which was piloted last month is now available for the general public.

The exchange is open for users who are aged from 20-70 who reside in Japan. However corporate accounts are not yet open at press time.

VCTRADE initially offered XRP and JPY pairs then later added Bitcoin cash and Bitcoin a couple of days later.

The opening of its exchange was delayed due to regulatory uncertainty after a high profile hack early this year of CoinCheck which cost the exchange and its customer to lose $533 million worth of cryptocurrencies.

Bitbox Opens Its Doors To Patrons

Line Corporation has started the operations of Bitbox, its cryptocurrency exchange that is based in Singapore.

It was stated by its representative that the company plans to leverage its years experience in the social media sphere to bring a user-centered experience and first-rate customer support.

They also promise the highest level of security and transparency.

For its launch they are offering special benefits for the first 2 million customers who register in BITBOX.

They will receive rewards equivalent to $10 USD that can be used in the exchange in August.

The first month of trade also feature zero trading fees to all the listed coins in the exchange.

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