Day: December 5, 2018

Overstock’s Medici Ventures Acquires Stake in Agricultural Blockchain Firm

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Medici Ventures, the blockchain venture arm of Overstock.com Inc., has purchased $2.5 million in equity in agricultural blockchain project GrainChain, according to a press release shared with Cointelegraph Dec. 4. Founded in 2003, GrainChain has developed a blockchain-powered system that enables supply chain parties to track the distribution process of harvests. GrainChain’s blockchain-based financial settlement system allows producers, buyers and sellers to create smart contracts in order  to secure funds throughout the grain transaction process. The firm states that their system provides a platform, by which small and medium-scale farmers…

Thai Crypto Exchange Satang Plans to Raise $10 Million in Security Token Offering

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Thai cryptocurrency exchange Satang Corp. plans to raise nearly $10 million in a security token offering (STO), despite the recent market meltdown, Asia-focused business publication Nikkei Asian Review reported Dec. 4. Satang’s plans are reportedly supported by the Government of Thailand in a bid to make the country a blockchain center and develop a regulatory framework for digital currencies and blockchain. According to the exchange’s CEO Poramin Insom, the STO will be conducted in the first quarter of 2019. Satang reportedly plans to use the $9.9 million it raises to…

US Futures Exchange Turns to Crypto Trading, Finds Support Among Trading Giants

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ErisX, a crypto exchange has completed a Series B funding round with support from leading firms including Bitmain, ConsenSys, Fidelity Investments, Nasdaq Ventures, and Monex Group. ErisX Will Operate as Crypto Futures Exchange, Clearing Organization, and Spot Market The crypto trading platform, with a pending license as a clearing organization with the U.S. Commodity Futures Trading Commission (CFTC), had already found support from big names such as DRW Venture Capital, TD Ameritrade (AMTD), Virtu Financial, NEX Opportunities, Cboe Global Markets, Digital Currency Group, and Pantera Capital. The funding will help the company…