$100 Million Fund For Blockchain Gaming Launched By Ripple And Forte

It has been reported that Ripple and blockchain platform Forte have partnered together to form a $100 million fund to support game blockchain game developers.

The primary objective of the fund is to help mainstream adoption for blockchain gaming using Forte’s platform technologies as well as Ripple’s open-source solutions which includes XRP.

The fund will be overseen by Forte a blockchain-based solutions provider for the gaming industry that is backed by some of the most notable investors in Silicon Valley.

According to Ethan Beard, the senior vice president of Ripple’s development arm Xpring, blockchain will help game designers who have had a hard time facilitating a digital economy that can serve all types of players.

He also added that the grants that will be distributed to developers in the form of XRP and it is up to the game developers if they convert this into fiat, although it is expected that most of them will probably do so..

It seems that Ripple is now expanding its business scope into the gaming industry, only time will tell if this venture will be successful but one thing is for sure this is great news for game developers as more and more blockchain companies are supporting the space.

Coinbase Now Supports Stellar Lumens

According to news reports online Ripple’s primary competitor in the crypto space, Stellar Lumens (XLM) has finally been supported by Coinbase - one of the biggest crypto exchange in the United States of America.

The crypto is initially supported on its Coinbase Pro platform and users will be able to deposit their XLM coins onto the platform starting March 13th at 1 PM PST.

Trading will not commence not until enough liquidity/depth has been reach this the 12 hour deposit only period.

Trading pairs available for the newly added digital asset will be with USD, EUR and Bitcoin (BTC).

All jurisdictions where Coinbase is operating will support XLM sans New York whose regulators need to approve the asset additions into the platform.

Recently stellar has released a new logo for their organization with its founder Jeb McCaleb stating that the old logo does not make sense as it was too cartoonish for a formal baking system they plan to serve.

First Ever Cold Storage OTC Crypto Trade Made By Coinbase

According to a recent blog-post by Coinbase, it has just completed its first over-the-counter (OTC) trade directly out of cold or offline storage.

It describes this accomplishment a “major unlock” for its clients as it market the availability of immediate liquidity.

Previously it takes almost 1-2 days for a crypto trader to withdraw assets from cold storage where private keys are stored to be transferred to a hot or online wallet then execute the trade.

With the integration of its Coinbase Custody solutions to the OTC desk at Coinbase Pro clients can leverage the OTC desk without needing to move funds out of cold storage.

Clients can buy OTC and settle assets directly into custody.

According to Sam McIngvale, CEO of Coinbase Custody Trust, Coinbase has the largest regulated pool of crypto liquidity and having access to market quickly and safely unlocks tremendous benefit for its customers.

Justin Says Crypto Will Bring News Wave Of The Internet In CNBC interview

The founder of Tron Network, Justin Sun, has recently been interviewed in CNBC.

In the interview, Sun shared his excitement and enthusiasm on cryptocurrency and its underlying technology which he thinks will bring forth the next wave of the internet.

He shares that his main focus in the space is for mass adoption and the technologies that is helping the sector move forward, and not so much for market capitalization.

He also believes that there are already indicators that the digital industry in is taking over with major industry players in the internet and finance sector already launching their own digital assets.

He was referring to Facebook launching its own cryptocurrency as well as JPMorgans foray into digital assets with its own cryptocurrency for inter-bank transactions.

He also touch on the accelerated growth and success of the lightning network which many pundits believe would be the solution for the scaling problem of bitcoin.

US Securities And Exchange Commission Meeting With Blockchain Startups To Clarify Regulations

According to online news outlets, the US Securities and Exchange Commission (SEC) has been holding a number of meetings with digital assets issuers to clarify its regulations about the nascent industry and to guide them identify if they need to register their offering.

The initiative is being conducted by one of its branch dubbed as the FinHub, which has the primary purpose of organizing meetings with startups and help them to avoid selling an unregistered securities in the future.

FinHub is designed to make the SEC’s FinTEch work more accessible to innovators, entrepreneurs and their advisers.

It will serve as a venue where participants can discuss new financial technologies as well as the regulatory concerns of projects.

The crypto and blockchain community has been calling regulatory clarity from the US SEC and many proponents are concern that the agency is too slow to clarify its stance on the nascent industry.

Due to this some of the proponents have went to congress to propose amendments in the law that would exempt digital currencies and its underlying technology from what many describe as the archaic securities laws.

Nevertheless, SEC continues to address the concerns of every participants in the space especially newbie crypto investors who usually does not know what they are going into.

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