Samsung accepts crypto payments in 3 Baltic states
Samsung is reportedly accepting cryptocurrency payments in several Baltic States using crypto payment platform CopPay. The Lithuania-based company made the announcement today. Customers in the countries of Estonia, Latvia, and Lithuania will be able to purchase Samsung smartphones, tablets, laptops, TV sets, and more with cryptocurrency.
The South Korean multinational conglomerate will be accepting crypto payments in Bitcoin, Litecoin, thiab lwm tus. In addition to the 3 Baltic States, CopPay also has several merchants using its platform in Portugal. The company also announced cryptocurrency will soon become an accepted method of payment in Samsung’s online stores.
Blockchain-based credit rating firm raises $8M in funding
A startup looking to build a credit scoring protocol on top of a blockchain has raised $8 million in seed funding. POINTS, founded in 2017, said it drew funding from a mix of traditional venture capitalists, as well as Zhong Cheng Xin Credit Technology, China’s first nationwide credit rating agency.
Sarah Zhang, founder and CEO of POINTS, said: “Currently, whether it’s for banking or registering at a crypto exchange, users need to repetitively upload their profiles. Meanwhile, institutions also need to repetitively conduct the KYC process manually, which is time consuming and leads to a huge data storage on their ends. The end goal is to give a user a credit profile as complete as possible so that they can access to financial products that otherwise may not be available.”
Coinbase prime brokerage reportedly onboards $20B hedge fund
Coinbase has launched a new prime brokerage service for hedge funds & has reportedly attracted an unnamed $20 billion hedge fund: “The firm has onboarded a $20 billion hedge fund through its prime business, the people said, declining to specify which fund. The team is working on getting other large hedge funds onto its trading platform.”
Prime brokerage allows hedge funds to borrow from Coinbase after putting down collateral, then they can trade on a number of crypto exchanges without putting down a balance or having to deal with private keys. In the future, Coinbase may also provide execution services where they can assist hedge funds in locating the best platform for a trade.
Malta Stock Exchange inks deals to build security token exchanges
MSX, the newly launched fintech arm of the Malta Stock Exchange, has inked several new deals aimed at creating new marketplaces for tokenized securities.
One deal is to build a “regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets.” Neufund, a platform for securities tokenization and issuance, claimed the new platform will be “the first end-to-end primary issuance platform for security tokens.” Joseph Portelli, chairman of the Malta Stock Exchange, called the project a “pioneer in digital finance” and said “We are delighted to welcome Neufund as our key partner in building a blockchain-based exchange that is fully integrated with established financial markets.”
In related news, crypto exchange OKEx has also partnered with MSX to launch a new exchange – called OKMSX – for the trading of “institutional grade” security tokens. The platform is expected to launch by Q1 of next year.
Kraken Daily Market Report for 19.07.2018
KRAKEN DIGITAL ASSET EXCHANGE
$139M traded across all markets today