Goldman Sachs is reportedly one of several financial institutions to sign on to JPMorgan’s custom blockchain service — a sign that more broker-dealers were looking to take advantage of digital currencies for their repo operations. In an interview with Bloomberg, Scott Lucas, head of blockchain markets at JPMorgan, said the investment bank is already using blockchain to conduct billions of dollars worth of repurchase agreements. The bank utilizes JPM Coin, a dollar-backed stablecoin, to swap digitized U.S. Treasury bonds much more efficiently. As Bloomberg notes, JPMorgan conducted the first live…
Day: December 10, 2020
MassMutual Buys $100M Bitcoin, Bets on Institutional Adoption With $5M NYDIG Stake
Massachusetts Mutual Life Insurance Co. is jumping into the institutional bitcoin game with a $100 million investment in bitcoin and a $5 million equity stake in New York Digital Investments Group (NYDIG). The twin plays – both revealed in a Thursday press release – give MassMutual direct exposure to the cryptocurrency’s price swings and signal its betting that other big fish will follow suit. NYDIG is one of the fastest-growing institutional crypto shops; it provided MassMutual with the $100 million buy. A NYDIG spokesperson did not immediately respond to a request…
Singapore’s DBS Bank to Launch Crypto Trading Platform Next Week
The massive attention that cryptocurrencies and blockchain technology have received in past months called the attention of DBS Bank. Singapore’s largest bank, DBS Bank, announced the arrival of crypto trading next week, with the integration of DBS Digital Exchange as a subsidiary of the bank. According to a recent press release, the platform will work with blockchain technology – offering assets tokenization and cryptocurrency trading. The exchange services include the tokenization of assets and custody with cryptographic keys, and four traditional fiats (JPY, USD, SGD, HKD), as well as four…
A feature allowing anonymous Uniswap trading has returned
Uniswap serves as a massive player in the decentralized finance, or DeFi, niche of the crypto space. Incognito, a blockchain focusing on crypto privacy, has reopened pUniswap, a way to participate on Uniswap privately. “Uniswap, Ethereum’s largest DEX, just went Incognito. Again,” Incognito announced in a blog post on Thursday. Aimed at enhancing the project, Incognito put pUniswap on hold back in September. Participating in the DeFi ecosystem often means interacting with the Ethereum blockchain, as many platforms operate on its network. That said, some folks value privacy. Without pUniswap,…
Bitcoin ve Ethereum Fiyatları Uçmak Üzere! LINK, XEM, XYM + Hafta Ortası Analizi
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EU firm’s head trader explains why euro stablecoins are hard to come by
A number of popular U.S. dollar-pegged stablecoins exist on the crypto market. Stablecoins based on the euro also exist, but are notably less liquid, according to Zahreddine Touag, co-founder and head of trading at Paris-based market making firm Woorton. “There’s not any euro stablecoin that is very liquid,” Touag said on Thursday during a Paris Blockchain Week conference panel, noting multiple points of rationale. The most impactful reason: “It’s very costly to do a euro stablecoin,” he noted, adding: “The primary source of revenue for U.S. dollar coins are the…
Bulls abandon ship as a $93M Bitcoin options imbalance favors BTC bears
On Dec. 11, a total of $540 million in Bitcoin (BTC) options open interest is set to expire. This number mimics the past month’s $525 million options expiry, as monthly and quarterly options typically concentrate the most volume. Although both dates present somewhat unusual activity, this time around, bears seem in control. Data also shows that the Bitcoin bulls appear to have become too optimistic. Currently, the exchange Deribit holds 85% market share for Friday’s expiry, with $189 million worth of call (buy) options stacked against $282 million put (sell)…
CryptoBiz Exchange Launches in India
Recently, cryptocurrency trading in India has spiked and grown at an unprecedented level. As the Bitcoin rallies and grows strength by strength, the Indian crypto community has multiplied and with this, a fair and regulated market has been on the top of their demands. Amidst the ever-growing market, there are some existing players that have been operating since the past few years, but the entry of CryptoBiz Exchange has built up a hype as they look to take the market by storm with their features. The Reason for the Hype…
Blockchain Bites: Paxos’ Banking Play, France’s KYC Terreur, FinCEN’s Personal Data Honeypot
U.S. lawmakers are asking the nation’s financial guardians to clarify custodianship questions. France is looking to eliminate anonymity in the crypto sector. And an exposé into how FinCEN became a honeypot for personal information. Top shelf Banking playPaxos is making moves to become a federally regulated bank in the U.S., according to a filing with the Office of the Comptroller of the Currency (OCC). The stablecoin issuer and crypto services firm is seeking to create the Paxos National Trust, which would operate out of New York and incorporate as one…
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