Blockchain News 24.08.2018

Bittrex teams with trading firm to launch crypto securities trading platform

US based cryptocurrency exchange Bittrex is partnering with a “regulated alternative trading system” with the aim of ultimately launching crypto-securities trading. Bitrex said it is working with Rialto Trading, which currently offers fixed-income products for traders, to gain regulatory approval to support “blockchain-based securities.”

If approval is granted, Rialto plans to launch a “comprehensive” securities offering, including an issuance advisory service, placement, custody service, & USD trading. Trading firm Rialto’s CEO Shari Noonan said “By working together, we’ll be able to expand our current client offerings to not only include digital securities, but also provide them access to a globally advanced and reliable trading platform.”

Bitcoin wallet company receives E-money license from UK regulator

Wirex, a London-based Bitcoin wallet and payment card provider, says it has become the 3rd crypto-enabled company to receive an E-money license from UK financial regulators(Financial Conduct Authority.) The license enables the company to issue electronic money and provide payment services throughout the European Union and European Free Trade Association, according to public records.

Pavel Matveev, the co-founder of Wirex, said in the release that it was for an effort to “improve and refine its e-money services throughout the [European Economic Area].””Having our own principal license, instead of our existing FCA agency licence, means increased efficiency and lower costs.” More specifically, according to Kelly Horn, a media representative for Wirex, the license will give Wirex ability to offer faster and more responsive service with lower rates to its customers. Matveev added that the company has also been seeking licenses in other markets, including in Singapore and Japan, as it continues working to expand its international business.

Singapore Stock Exchange uses blockchain for faster settlements

Singapore’s stock exchange is working with the Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, to utilize blockchain in a bid to improve the efficiency of securities settlements. The Singapore Exchange (SGX) said the collaboration is aimed at scaling up the country’s Delivery versus Payment (DvP) capacity so that it’s able to automate transactions via blockchain-based smart contracts. DvP is a settlement process that ensures assets are transacted only when corresponding payments are received.

Lending technological support is a list of well-known firms like Nasdaq and professional services firm Deloitte, as well as blockchain startup Anquan, according to the announcement. The goal is to develop a distributed network where financial institutions and investors can transact securities that have been converted into digital tokens through different blockchain platforms.

Mt Gox Bitcoin creditors can now file rehabilitation claims

Creditors of the long-defunct bitcoin exchange Mt Gox can now begin submitting proof of their claims in a newly-approved rehabilitation process. Nobuaki Kobayashi, the trustee of Mt. Gox, announced in a note on Thursday that an online claim filing system is now up and running for creditors, whether or not they filed proofs for claims in the previous bankruptcy proceeding.

Kobayashi said that creditors have until Oct. 22nd to file proof & also said “The planned deadline for the Rehabilitation Trustee to submit a statement of approval or rejection to the court is January 24, 2019, but, at the current point in time, a definite date has not been determined.” However, users who lost online login access to Mt. Gox may have to submit information in an offline method by sending proofs to an address in Tokyo designated by the Mt. Gox trustee.

SEC says it will “review” Bitcoin ETF rejections

The SEC said its senior officials will review the disapproval orders for 9 Bitcoin ETFs issued on Wednesday. As SEC secretary Brent Fields wrote in a letter addressed to NYSE Group senior counsel David De Gregorio: ” the Commission will review the delegated action. the August 22 order is stayed until the Commission orders otherwise.”

Hester Peirce announced the news, who notably dissented from last months Bitcoin ETF rejection decision. In a follow-up tweet, Commissioner Peirce explained the steps to come as the SEC moves to review the decisions. “The Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff’s action, as will now happen here.”

Kraken Daily Market Report for 23.08.2018


$108M traded across all markets today

Blockchain News 24.08.2018

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