Bakkt Will Launch Physical Bitcoin Futures

The International Exchange (ICE), the mother company of New York Stock Exchange reveals that Bakkt cryptocurrency platform’s first offering will take the form of physical Bitcoin futures.

It also states that its product offering will be a regulated ecosystem for institutional investors that want to get exposure to the burgeoning asset class.

The futures will be available with three fiat pairs which include the U.S. Dollars, British pound and Euro.

ICE previously stated that Bakkt would not offer margin trading or use leverage with Bitcoin saying that it does not want to serve to create a paper claim on a real asset class.

The product offering of Bakkt is different from the much anticipated Bitcoin exchange-traded (ETFs) as the latter does not deliver of any actual Bitcoins.

Bakkt is set to launch on November of this year.

Coinbase Accelerating Its Digital Asset Listing

U.S.-based cryptocurrency exchange giant Coinbase has just revealed an unexpected new listing process for most digital assets.

With this new program, the exchange is seen to accelerate its listing process for new digital assets in their platforms.

The company have stated on is twitter account that one of the top customer request in their platform are more digital assets supported in their platform and they have been determining how they can do this in a compliant and secure way that maintains the standards their customers have come to expect.

In response the company announced a new listing process that will allow them to rapidly add most digital assets that meets their standards and are compliant with local laws and will enable their customers to discover, evaluate, trade and use digital assets.

Google Unbans Crypto Ads

Technology giant Google has recently announced its lifting of their blanket ban on crypto-related products and services ads, allowing regulated companies to utilize its platform to advertise their product offering.

The company banned crypto-related advertisement in its platform last March as it has seen enough or potential customer harm brought about by this new asset type.

However, in a complete turnaround the company reversed the ban and has demonstrated the willingness of the conglomerate to work with legitimate projects and companies in the cryptocurrency sector.

Starting October verified companies in the crypto sector of US and Japan will be able to purchase ads on Google.

Other territories will be allowed to file applications with Google in anticipation of a total reversal of ads ban in the platform.

The ads ban is a bitter pill to swallow but will help increase the legitimacy of the cryptocurrency industry as it will help in curbing out scams and illegitimate services that are seen prevalent even after the ad ban.

JP Morgan Increasing Its Blockchain-Powered Network Participants

JP Morgan together with Royal Bank of Canada and Australia & New Zealand Banking Group (ANZ) launched a global payment transaction platform that was to rival R3 blockchain consortium.

The said platform is developed using Quorom, an Ethereum-based private blockchain developed by JPMorgan in partnership with development studio Ethlab.

The initiative test trials have recently included 75 of the world’s largest banks as reported by the Financial Times.

These trials were to assess the feasibility of a common ledger accessible by all participating banks in a process that reduces the number of participant in a simple cross-border payment chain.

This is widely seen as more efficient and cost effective compared to legacy systems that have to go through three or four middlemen firms.

The new system is expected to process about 14,500 USD-denominated payments a day and the platform is expected to support non-USD currencies in the future.

BitPay Partners with BTC.com With BIP70 Support

The Bitmain subsidiary BTC.com has recently announced its adoption of BIP70 transactions framework, enabling the company’s 1 million customers to send payments to businesses in cryptocurrency payment processor Bitpay’s $1 Billion merchant market.

BIP70 was designed to improve customer experience for commercial transactions involving cryptocurrency by allowing customers to make payments to human-readable payment address.

The payment standard also includes support for transaction received messages, as well as the automatic generation of refund addresses.

Bitpay began supporting the BIP70 framework this year requiring all users sending BTC or BCH payment to BitPay merchants to use BIP70-compatible wallets.

Since then the firm has revealed that the rate of payments errors has decrease significantly from 10 percent in Jun 2017 to just 0.27 percent recently.

BTC.com VP of business operations Alejandro de la Torre states that BitPay is one of the largest providers of crypto-merchant services and to provide the best experience to their customers on-boarding more merchants is paramount importance and partnering with BitPay helps them to achieve this

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