Day: March 24, 2020

Pioneering Crypto Bank Launches CHF-Backed Stablecoin

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Pioneering Swiss crypto bank Sygnum unveiled a stablecoin pegged to the Swiss franc on March 20. Sygnum’s ‘DCHF’ “settlement token” is backed 1:1 by funds held with the Swiss National Bank. According to local media outlet Swissinfo, DCHF is under consideration for support from the forthcoming SDX digital assets trading platform from SIX Group — of which Sygnum is a member. Swiss crypto bank announces CHF-pegged “settlement token” The crypto bank aims to target institutional clients with its stablecoin, emphasizing that the coin enables fast and frictionless settlements alongside novel…

Bitcoin (BTC) Soars 10% on Strong Momentum

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The coronavirus pandemic has had a highly damaging effect on the capital markets, and eventually, the effect was felt in other asset classes like cryptocurrencies as well. While this did affect the world’s biggest cryptocurrency, Bitcoin has made a remarkable recovery over the past 24 hours. BTC gained 10% in the last 24 hours, and the total value of the entire crypto market soared by $14 billion. Bitcoin was trading at $6,580 this morning in Singapore, and it seems likely that the cryptocurrency is going to be in focus among…

Robinhood Looks to Win Back Users Angry Over System Outage on Historic Market Day

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Crypto and trading app Robinhood has begun taking action to reconcile with users affected by technical problems that sidelined them during the biggest one-day point gain in the history of the Dow Jones Industrial Average. On March 23, Robinhood reportedly emailed affected users to apologize for the incident and demonstrate its intention to rebuild customers’ trust in the form of credits, with the dollar amount to be determined on a case-by-case basis. Will users get reimbursement? A spokesperson for Robinhood told Cointelegraph that after reviewing customers’ emails and accounts, Robinhood…

Game Development Companies Team Up with Blockchain Operation Forte to Unlock New Business Models for Games

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Sharing is caring! Forte has teamed up with legendary game developers Hi-Rez Studios, Netmarble, Magmic, nWay, and DECA Games to integrate Forte’s open and easy-to-use blockchain platform into their game ecosystems. This will unlock new economic and creative opportunities for both the developers and their player communities. Disruptor Beam, Other Ocean, and Kongregate are a few other game developers already on board. ~ advertisement ~ Through its $100M developer fund via Ripple, Forte is providing grants to qualifying game developers to integrate blockchain technology into both existing games, as well…

United States CFTC Cements Parameters for Physical Delivery of Traded Crypto

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The U.S. Commodity Futures Trading Commission, or CFTC, has publicized clarity on physical digital asset delivery as it applies to traded market products.  “The Commodity Futures Trading Commission today announced the Commission voted unanimously to approve final interpretive guidance concerning retail commodity transactions involving certain digital assets,” the Commission said in a statement provided to Cointelegraph, adding: “Specifically, the guidance clarifies the CFTC’s views regarding the ‘actual delivery’ exception to Section 2(c)(2)(D) of the Commodity Exchange Act (CEA) in the context of digital assets that serve as a medium of…

Blockchain Supply Chain Project Envoy teams up with KYC Hub

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Sharing is caring! The Envoy Group will now be able to onboard legacy clients onto its trade finance platform using Know Your Customer (KYC) technology from KYC Hub, to take advantage of its anti-money laundering, business verification, workflow management and know your customer solutions. ~ advertisement ~ Envoy uses blockchain technologies to bring massive efficiencies to the global supply chain and trade finance and has raised more than USD $13 million from Alcedo Digital Ventures in February 2020.   Lee Tarone, CEO of Envoy Group, said: “Trade finance cannot be truly…

Crypto Conferences Finding Ways to Adapt Amid Coronavirus Pandemic

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The number of coronavirus cases worldwide is rapidly getting close to 400,000, with many industries and businesses affected around the world. The crypto market has been no exception. Bitcoin’s (BTC) price initially reacted with a 50% drop; blockchain companies began to suggest that their employees working remotely; and crypto conferences have been either canceled or postponed. While some conferences report poor attendance and mass dropouts from panelists, others have found success in a virtual format. Crypto conference organizers and speakers shared with Cointelegraph the latest insights on what is happening…

Cartesi Launches Linux Infrastructure For Developing Blockchain DApps

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Sharing is caring! Cartesi, who claim they are the first DApp infrastructure that runs an operating system (OS) on top of blockchains, is launching their product as the simultaneously close their first round of funding. ~ advertisement ~ The company’s layer-2 solution is allegedly the first of its kind to bridge the gap between a Linux runtime environment and blockchain, giving developers the opportunity to create DApps using a vast array of mainstream software stacks. “We are excited to be launching the first-ever Linux infrastructure that runs on top of…

Forte Taps 5 New Gaming Partners as ‘Blockchain by Itself Isn’t Enough’

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Amid the increasing adoption of blockchain technology in the gaming industry, some of the world’s biggest game developers like South Korean Netmarble are partnering with blockchain gaming startup Forte Labs to streamline blockchain-powered game experiences. Forte, a known partner of major cryptocurrency firm Ripple, has just tapped five new high-profile gaming companies in line with its mission to provide best-in-class gaming experiences based on blockchain technology. All five new partners will integrate Forte’s blockchain platform into their games According to a March 24 blog post, Forte’s new game developers include…

Bybit to Roll Out USDT Perpetual Contracts

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Singapore-based crypto futures exchange Bybit has announced the addition of Tether (USDT) perpetual contracts. By adding the stablecoin to its existing futures contracts (BTC, ETH, EOS and XRP paired with USD), the exchange aims to furnish traders with greater simplicity and flexibility, as they can now hold long and short positions simultaneously to better hedge their positions. As per Bybit’s announcement, USDT can be used as the quote and settlement currency, facilitating two-way trades and granting traders exposure to underlying spot market prices for assets such as bitcoin – with…