Day: June 19, 2019

KuCoin Lists Binance Coin, Supports Binance Chain Projects

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Singapore-based cryptocurrency exchange KuCoin has announced that it is now listing the cryptocurrency Binance Coin (BNB) issued by the exchange Binance, according to a press release on June 19. KuCoin will reportedly offer BNB trading pairs with Bitcoin (BTC) and Tether (USDT). The announcement also notes that KuCoin will support projects based on Binance’s native blockchain, Binance Chain, in addition to its native coin BNB. The recent development shows that major trading institutions are putting trust in Binance’s token-vetting process on its initial exchange offering platform. At press time, KuCoin…

Facebook’s Calibra Digital Wallet Will Not Be Available in Its Largest Markets

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Facebook’s Calibra digital wallet will not be available in some of the social network’s largest markets, including India, according to a TechCrunch report on June 19. A spokesperson told the website: “The libra blockchain will be global, but it will be up to custo dial wallet providers to determine where they will and will not operate. Calibra won’t be available in U.S.-sanctioned countries or countries that ban cryptocurrencies.” Estimates by Statista suggest there were 260 million Facebook users in India as of April this year — far ahead of the tech giant’s second-largest market, the…

BNP Paribas Venture Arm Among Investors to Inject $16.5M in Fintech Firm Token

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Fintech firm Token has received a $16.5 million injection from investors including the venture arm of banking giant BNP Paribas, a news release announced on June 18. The self-described open banking platform says it will use the capital to further develop its TokenOSTM operating system — and “accelerate new ways of innovating payments with digital money and ID solutions.” According to the company, its ecosystem enables banks, customers and developers to complete transactions securely, instantly and with less friction. Token claims more than 4,000 banks have connected to its platform, with Mastercard recently coming…

Russia Will Not Legalize Facebook’s Cryptocurrency, Official Says

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Chairman of the Russian State Duma Committee on Financial Market Anatoly Aksakov has said that Facebook’s forthcoming cryptocurrency Libra will not be legalized in Russia, local news outlet TASS reported on June 18. Aksakov stated that Russia will not legalize the use of Facebook’s Libra cryptocurrency which the company intends to roll out in 2020, because it may pose a threat to the financial system of the country. Aksakov also stressed that Russia has no plans to adopt legislation “which provides space for the active use of crypto tools created…

The Benefits and Drawbacks of National Cryptos, According to Different Jurisdictions

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This month alone, at least three separate countries have reported on their prospective central bank-issued digital currencies (CBDCs): The Republic of the Marshall Islands (RMI) announced the creation of a specially dedicated nonprofit organization to support its digital currency that is already being developed. Meanwhile, the central bank of Russia said it was considering its own cryptocurrency (albeit not in the near future), while the National Bank of Ukraine released a report on the matter. The concept of CBDCs has been steadily drawing the attention of numerous jurisdictions worldwide, but…

Blockchain Firm Algorand Raises $60 Million in New Token Sale

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Blockchain company Algorand has raised over $60 million in a token sale on financial services platform CoinList, technology-focused news outlet The Block reported on June 19. The Algorand Foundation — a firm that implements an open source public ledger and cryptocurrency payment system utilizing the Byzantine Agreement message-passing protocol — has reportedly raised $60 million in a sale of its native Argos token. The recent equity funding was on top of the $66 million the company raised over the past year from investors such as venture capital firms Union Square…

Bitmain’s Nishant Sharma Talks China and Crypto in the Humans of Bitcoin Podcast

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This week on the Humans of Bitcoin podcast host Matt Aaron chatted with Bitmain’s Nishant Sharma who shared his story and discussed the western hemisphere’s false impressions of China and Bitcoin. During the interview, Sharma conversed about his work with Bitmain, one of the largest cryptocurrency companies in the world, and addressed some of the misinterpretations in regard to individuals who call Bitcoin Cash the “Chinese Bitcoin.” Also read: Bitmain Launches Low-Cost Special Edition Antminer S9 The Founding Values of Bitcoin Are Borderless Bitmain’s Nishant Sharma recently joined the Humans…

Bitmain’s Nishant Sharma Talks China and Crypto in the Humans of Bitcoin Podcast

boss

This week on the Humans of Bitcoin podcast host Matt Aaron chatted with Bitmain’s Nishant Sharma who shared his story and discussed the western hemisphere’s false impressions of China and Bitcoin. During the interview, Sharma conversed about his work with Bitmain, one of the largest cryptocurrency companies in the world, and addressed some of the misinterpretations in regard to individuals who call Bitcoin Cash the “Chinese Bitcoin.” Also read: Bitmain Launches Low-Cost Special Edition Antminer S9 The Founding Values of Bitcoin Are Borderless Bitmain’s Nishant Sharma recently joined the Humans…

Facebook Enters the Crypto Space with Libra Coin

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On Tuesday, Facebook and its partners unveiled its new cryptocurrency dubbed Libra coin that will transform how its over 2.38 billion users perceive the use of crypto to make purchases. Libra to Bring “Unbanked” Individuals to the System The project is offering a stable digital currency that expects to bring more unbanked individuals into the system. The Libra coin will be backed by stable financial assets and managed through a governing body. The coin is expected to make an entrance into the market in the first half of next year. The…

MetLife’s LumenLab Using Blockchain to Automate Life Insurance Claims

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MetLife subsidiary LumenLab is using blockchain technology to automate life insurance claims, according to a news release published on June 17. Known as “Lifechain,” the collaboration with Singapore Press Holdings and NTUC Income will enable bereaved families who place obituaries in a local newspaper to instantly trigger searches to see whether their loved one had a life insurance policy. This month, 1,000 Income policyholders will be randomly selected to take part in a pilot scheme. The technology works by submitting the deceased’s National Registration Identity Card to Lifechain as hashed data once consent from…