Spain Open For Direct Crypto Investment

The agency that regulates security investments in Spain, Commission Nacional del Mercado de Valores (CNMV) has recently stated their stand on direct cryptocurrency investments.

According to the regulatory body, investments in cryptocurrency have a legal place in Law 22/2014.

This law establishes, among other things, closed-end collective investment entities (EICC), closed-end investment funds (FICC), and closed-end investment companies (SICC).

However, these types of investment has their own set of requirements that needed to be complied with regards to valuation of assets, liquidity and custody guarantee.

Coinbase Has Almost As Many Customer As Fidelity Investments

According to Washington Post, cryptocurrency startup company has seen exponential growth as it has over 20 million customer accounts, which almost compares to Fidelity Investment and twice as many as Charles Schwab.

This outstanding growth can be attributed to the leadership style of Coinbase’s CEO, Brian Armstrong.

He believes the company’s attitude on putting people first has enabled the company to create incredible products which at the end of the day leads to greater profits.

He also added that software is the Core of Coinbase’s business and by focusing on software that is performs key tasks with stability and scale are paying off.

UK-Based Forex Firm To Launch Crypto Exchange for Institutional Investors

LMAX, a UK-based foreign exchange trading platform has announced that it is entering the cryptocurrency exchange business that is design to accommodate institutional investors such as banks and hedge funds.

David Mercer, The CEO of LMAX said that his firm decided to enter the said space as a positive response to its clients who wish to enter such markets.

He also believes that the new platform will provide legitimacy to the nascent industry especially through the eyes of financial institutions.

The exchange seeks to support the most liquid and established cryptocurrencies.

First Institutional Cryptocurrency Exchange

The LMAX Exchange Group, which is based London has established what it believes to be the first physical venue for trading cryptocurrencies that will serve institutional traders.

The new service is called LMAX digital.

It aims to serve customers who are seeking for way to trade with high levels of trust and credibility.

David Mercer, the CEO LMAX, believes that his company fits well to serve this market segment having over $10 trillion of fiat trade in their exchange which serves institutional clients from more than 100 countries.

He also believes that the company’s crypto initiative might result to a significant uptick in some cryptocurrencies.

WalMart Files For Blockchain Related Patent

Retail giant WalMart is said to have filed a patent for a Blockchain-based which will enable its customers to resell products from their stores.

The application is described as service that would record customer’s purchases in a Blockchain ledger which then can be later be accessed to enable customers to resell items that they have bought before.

This application might be a point-of-sale software, web-based app or mobile app.

The company believes that this new application will improve customer’s service.

This application is in addition to its two previous patent applications that sought to track package delivery and supply chain monitoring.

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