Ripple (XRP) Bulls Firm despite Coin Metric Report

Ripple (XRP) up 25.6 percent Ripple Labs exposed by Coin Metrics as David Schwartz says it is a “timeline issue.” Coin Metrics now reports that Ripple Labs did under-reported the number of XRP released from escrow by a total of 200 million XRP while implementing the “escrow queue” differently than announced. The reaction could be heaping pressure on XRP which is fast dropping, clawing back this week’s gains. Ripple Price Analysis Fundamentals According to a Coin Metrics report, Ripple Labs is allegedly misrepresenting the actual amount of XRP in their…

Facebook Registers New Fintech Firm in Switzerland

Social media giant Facebook has apparently formed a new financial tech firm, Libra Networks LLC, according to a filing on the Geneva Commercial Register. Libra Networks was registered in the Geneva con May 2 by Facebook Global Holdings II LLC. Per the official filing the firm provides: “…services in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.” Facebook…

Big Four Firm KPMG Identifies Top Four Skills Required for Blockchain Career

Big Four auditing firm KPMG has identified the top four skills needed for a blockchain-related career, in a press release shared with Cointelegraph on May 16. KPMG suggests that an increasing number of companies will investigate blockchain technology this year. “Blockchain projects will not succeed or scale without a multifaceted team that goes beyond technologists,” the firm states, thus identifying the four major skills needed for a career in the industry. KPMG argues that the successful deployment of blockchain tech depends on professionals with both technology literacy and business acumen.…

Estonian Consulting Firm Claims It’s Harder to Get a Crypto License Following Regulation

Estonian consulting firm Eesti has claimed that it is getting harder to get a cryptocurrency license in Estonia in a press release published on May 16. The Estonian government’s Ministry of Finance introduced changes to the licensing process on May 3. The new regulations adds a numbered formal obligation, extends the processing time from 30 to 90 day and establishes the requirement for a company or branch to be incorporated in Estonia. Furthermore, the registered office address and the board of directors now needs to be located in Estonia, and…

Blockchain Infrastructure Firm Blockstream Launches Security Token Platform

Blockchain infrastructure firm Blockstream announced the launch of its security token platform in a press release shared with Cointelegraph on May 15. Per the announcement, the new Liquid Securities platform is a solution for businesses to issue security tokens on the Liquid Network. Blockstream Chief Security Officer Samson Mow claims that while businesses are willing to issue tokenized securities, platforms such as Ethereum are not the right choice because of their scalability, privacy and reliability limitations. Blockstream claims that its platform is more suitable for such use: “Now, with the…

US Regulator Joins Canada in Fining Blockchain Firm CEO for Securities Act Violation

Blockchain entrepreneur Alex Tapscott has been fined $25,000 by the United States Securities and Exchange Commission (SEC,) according to a filing on May 14. Tapscott is the CEO of NextBlock Global, and in the filing, the SEC said neither the Canadian company nor its securities had ever been registered with the commission. The 33-year-old and his company have also been ordered to cease and desist from committing further violations of the Securities Act. According to the SEC, NextBlock was founded by Tapscott and three others in June 2017 for the purpose of investing…

Fintech Firm Billion Seals $2.1 Mln European Commission Grant for Blockchain System

Polish-British fintech firm Billon has reportedly sealed an almost €2 million (~$2.1 million) grant from European Commission’s Small and Medium-Sized Enterprises (SME) Instrument program to develop a blockchain document management system. The news was reported by Billion in a press release on May 14. The Commission’s SME Instrument program provides funding for innovation projects which are close-to-market, and has reportedly awarded Billon a grant under Phase 2 of the program — which provides enterprises with up to 70% of the costs of their proposed project. Billon’s system, dubbed B4TDM (Blockchain…

Digital Asset Finance Firm BitGo Announces Off-Chain Clearance and Settlement Service

Digital asset finance firm BitGo announced the launch of its off-chain clearance and settlement service in a press release published on May 14. Per the announcement, the service will be available to clients of qualified custodian BitGo Trust Company, and assets are not moved from custody while reportedly allowing fast, compliant and secure settlement. The company explains that — since the funds never leave the custodian’s wallet — this method eliminates counterparty risk: “Until now, in a digital asset trade, one party needed to assume all of the risk and…

Australian Advisory Firm to Launch $250 Mln Digital Securities Offering for Mining Sector

Major Australian capital advisory firm PCF Capital Group has chosen permissioned blockchain ecosystem KoreConX for a $250 million digital securities offering. The news was revealed in a press release shared with Cointelegraph on May 14. PCF Capital is a corporate advisory firm with a focus on serving clients within the mining and resource sector, and has executed 120 mine divestment and project financing mandates for over $2 billion, according to the press release. KoreConX is reportedly a permissioned blockchain ecosystem for fully-compliant digital securities. It comprises a network of broker-dealers,…

Algorithmic Cryptocurrency Trading Firm GSR Launches New Bitcoin Halo Option Derivative

Algorithmic cryptocurrency trading firm GSR announced the launch of a new bitcoin (BTC) halo option derivative in a Medium post published on May 13. Per the announcement, the new derivative is an option on the value of a trading account. The trader reportedly pays a premium upfront to buy the option, and the trading account starts with a value of zero. The holder is permitted to do 10 trades per day in the BTC/USD market until maturity. When the option matures, if the value of the account is positive, the…