Daily Cryptocurrency Bulletin For Tuesday, July 2, 2019July 2, 2019 1:39 pm
Binance is soon to launch futures trading. During a presentation at the Asia Blockchain Summit in Taipei, CEO Changpeng Zhao showcased a futures trading interface on Binance with features including longs and shorts on crypto assets. He also indicated leverage could be up to 20 times. “Margin trading will roll out to all users first around July 11, then futures testnet will come about a week after that,” a Binance spokesperson added.
ErisX has received licencing from the U.S. Commodity Futures Trading Commission (CFTC) to offer its physically-settled futures contracts. The CFTC granted a derivatives clearing organization (DCO) license along their existing designated contract market (DCM) license.
Facebook has applied for New York’s BitLicense and has also been in contact with regulators in England and Switzerland to discuss the terms of Libra compliance.
Goldman Sachs is researching tokenization and looking into the potential of blockchain technology to disrupt traditional financial services, according to COO David Solomon, claiming stablecoins are the future of the international financial payments system.
IBM has recruited Hapag-Lloyd and Singapore-based Ocean Network Express – the world’s fifth and sixth largest carriers respectively –to join the TradeLens blockchain platform it co-owns with Maersk. TradeLens now boasts 15 ocean carrier lines over the course of a year.
Longenesis has concluded two new partnerships in South Korea – bringing its blockchain medical-consent platform-as-a-service to Hanshin Medipia Medical Center and Infinity Care.
Nestlé has announced a collaboration with OpenSC – claiming to be the first “major food and beverage company to announce it will pilot open blockchain technology in this way”.
Russia’s central bank-backed blockchain project, MasterChain, is falling behind on its goals two years after inception. Sberbank, 50 percent owned by the Bank of Russia, is unsatisfied with the system’s speed, security and overall efficiency after testing it and is now looking to shift its work to other enterprise platforms like Hyperledger Fabric and Quorum. Meanwhile, the Russian Ministry of Finance will not issue any special regulations for Facebook’s upcoming digital currency Libra, according to deputy minister Alexei Moisseev. He said Libra will be treated like any other digital asset, regulations for which are coming soon.
The World Economic Forum, in collaboration with the governments of Canada and the Netherlands, launched the first-ever passport-free pilot project between the two countries.
Bitcoin $9,834.81 USD (-10.01 percent) has dropped below $10,000 for the first time in 11 days, showing buyer exhaustion. BTC’s volatility is causing prices in South Korea to once again trade at a notable premium to Western exchanges. The “Kimchi Premium” has risen to $1,048 – the highest level since Feb. 24, 2018. BTC traders in Zimbabwe and South Africa are seeing skyrocketing premiums in South Africa and Zimbabwe’s due to the recent ban on local trading in foreign fiat currencies. Local traders have reportedly seen asking prices of as high as $50,000 per 1 BTC if they attempt to purchase BTC from abroad. Meanwhile, CME Bitcoin futures hit $1.7 billion in notional value – a 30% increase from its last recorded high. Open interest for BTC futures now sits at 6,069 contracts due to institutional interest.
Litecoin $113.63 USD (-6.68 percent) has been upgraded by Weiss Ratings to an “excellent” ranking in regard to investment rewards and adoption.
– WN.com, Jamie Saarloos