Cryptocurrency Daily News Bulletin: June 6, 2019
June 6, 2019 5:10 pm
General News
Apple has launched a beta version of the “Apple CryptoKit”, which is designed to give developers an easy way to implement cryptography into their software.
Avenir Suisse, one of the most influential think tanks in Switzerland, released a report urging the Swiss National Bank (SNB) to start working on a national “franc token”.
Binance will issue its own stablecoins within two months. The exchange’s first stablecoin “Binance GBP” will be pegged to the pound, with Binance making interest off fiat deposits.
Facebook is poised to unveil its cryptocurrency to the public later in June and will be offered to Facebook employees who want to be paid in cryptocurrency. Facebook is also planning to have physical portals for users to purchase GlobalCoin, along with launching a new foundation for partners looking to run nodes for GlobalCoin, attaching a hefty $10 million fee.
LINE Pay Corp., the Japanese app provider, has inked a deal with Visa to create new fintech services for their retail and merchant customers. The two companies will collaborate on “innovative financial experiences”, enabling users to interact with the LINE Pay service and its digital wallet services at Visa’s 54 million merchant locations.
Rosneft CEO Igor Sechin has hinted at the potential for major Russian oil companies to start paying for oil using cryptocurrencies in the future as Silicon Valley tech giants including Google, Amazon and Apple begin to explore the oil and gas sector.
The Marshall Islands has set up a not-for-profit organization to oversee the Pacific nation’s digital currency, the “Sovereign” (SOV). Dr. Peter Dittus, chief economist for SOV said: “The SOV Development Fund’s mandate is to maintain the SOV infrastructure long term; to seed the ecosystem around the SOV; to promote the SOV and its uses, both domestically and internationally; and to smooth the volatility of the SOV by selling/buying SOV against USD.”
Cryptocurrencies
Ethereum $246.99 USD (0.35 percent) startups – Insurance cooperative Nexus Mutual and wallet provider Argent – have teamed up to help bring bank account-like protection Ethereum blockchain. They will offer a combination of smart contracts and insurance to keep users’ funds safe from hackers, without the need for FDIC insurance. Meanwhile, supporters of Benfica Football Club can now pay for match tickets and club merchandise using Ethereum courtesy of UTRUST, a crypto payments processing firm which also utilizes its own ETH-based token, UTK. Lastly, Russia’s third-largest food retail firm, Dixy, has implemented Eteherum-powered blockchain open trade finance platform Factorin, moving all its factoring-dealing suppliers to the Factorin platform.
Kin $0.000023 USD (-5.84 percent) has raised more than $4.3 million through its fundraising page, Defend Crypto, in its battle against the U.S. SEC lawsuit over their ICO.
Ripple $0.402700 USD (-0.22 percent) has registered a new entity in Switzerland – Ripple Switzerland GmbH – in a move designed to boost sales of XRP. Meanwhile Ripple-backed remittance platform SendFriend says it’s launchingsupport for XRP-based cross-border payment solution xRapid this month. SendFriend launched this year in the Philippines to give expatriates a cost-effective way to send money back home. Lastly, Ripple plans to completely revamp its standards for reporting on crypto volume and market data after intense scrutiny crypto exchanges received on trading volume data. This has resulted in cutting the $107.49 million in programmatic sales of XRP in Q1 this year in half.
– WN.com, Jamie Saarloos
