Cryptocurrency Daily News Bulletin: January 22, 2019January 22, 2019 12:44 pm
Coinbase is launching cross-border wire transfers for institutional clients in Asia, the U.K. and Europe. The firm will now support inbound and outbound SWIFT transfers from non-US bank accounts; allowing users to access “Coinbase’s deep pool of crypto liquidity for the first time.” The firm will also offer new OTC trading desks for U.S. and European customers, as well as trading and custody services for large-volume clients in Asia.
Falcon, the Swiss-based private bank, has announced both private and institutional investors can now directly transfer a selection of major cryptocurrencies to and from the institution’s own “segregated Falcon wallets,” as well as convert crypto into fiat money.
IBM has just signed the Port Authority of the Bay of Algeciras (APBA) to collaborate with on its blockchain-based shipping platform Tradelens. IBM has also signed on compliance platform Securitize to join their Blockchain Accelerator program. Securitize CEO Carlos Domingo said the firm is building a debt issuance platform using blockchain.
Komid, the South Korean crypto exchange, has had two of its executives handed jail time for faking trading volume and deceiving investors. The firm’s CEO Hyunsuk Choi received a three-year sentence whilst another member of the team, Park Mo, got two years.
Tangem, the Swiss-based cryptocurrency ‘smart card’ wallet manufacturer, has secured $15 million in funding from Ripple partner and Japanese finance giant SBI Group.
Zhiyuan Hui — the Chinese non-profit and world’s largest volunteer service platform — has announced a partnership with token economy infrastructure firm EveriToken. Via the new system, governments, enterprises and non-profits will be able to award an estimated one million volunteers per day with “Yi Coin” points in exchange for activity and service hours.
Netherlands financial authorities are planning a licensing scheme for crypto exchanges and wallet service providers to prevent money laundering and terrorism financing. The nation’s central bank published a report recommending the reconciliation of the national definition of a security to allow corporate funding through ICOs and STOs scope under applicable rules.
Bitcoin’s $3,548.67 USD (-0.94 percent) problems are only solvable by departing from a proof-of-work (PoW) system, according to new research published by the Bank for International Settlement (BIS). When Bitcoin’s block rewards eventually fall to zero — given only a limited number of new Bitcoin will ever be created — transaction fees alone will not be able to sustain mining expenses. The argument implies the Bitcoin network would become so slow it would be virtually unusable.
Ethereum’s $114.87 USD (-2.20 percent) on-chain transaction value hit an all-time high in December 2018, according to crypto analytics firm Diar. This could show the optimism behind the Constantinople hard fork in the Ethereum Network, which was recently delayed after the discovery of a security vulnerability allowing a re-entrancy attack.
Tron’s $0.025485 USD (1.69 percent) p2p file sharing network BitTorrent has gained support from Binance for its new token BTT. The exchange will airdrop BTT to TRX holders on or around Feb. 11.
– WN.com, Jamie Saarloos