ANALYSIS

Philippines’ UnionBank Launches Payments-Focused Stablecoin

[ad_1] In a bid to drive greater financial inclusion, Philippines-based UnionBank has launched a payments-focused stablecoin pegged to the Philippine peso.A report from PhilStar Global on July 26 revealed that the new, bank-backed cryptocurrency —  dubbed PHX — is being implemented on UnionBank’s i2i platform. Rural banks and Philippines’ main financial networkI2i is an acronym for island-to-island, institution-to-institution, and individual-to-individual and is the name given to the blockchain-based clearing system that
ANALYSIS

Proposed Crypto Tax Cut in Singapore to Help Crypto Business: PwC Expert

[ad_1] Singapore’s plans to exempt certain digital currencies from the Goods and Services Tax (GST) would benefit cryptocurrency-related businesses, according to a partner in PwC Hong Kong’s corporate tax practice.As reported by Hong Kong’s English language newspaper South China Morning Post on July 29, Gwenda Ho argued that the Singapore government’s proposal to drop the seven per cent GST for cryptocurrencies when using them to pay for goods and services
ANALYSIS

Austrian State Printing House Has Made a Cryptocurrency Cold Wallet

[ad_1]  Youniqx Identity AG, a subsidiary of the Austrian State Printing House, has developed a cryptocurrency hardware wallet, reveals a press release published on July 29.Per the report, the hardware wallet — named Chainlock — enables the offline storage of private keys allowing access to cryptocurrency wallets. The device is reportedly capable of generating the private key, and is also water and heat resistant. The wallet in question will be
ANALYSIS

Bakkt to Launch in Q3, Pending NY Financial Department Approval

[ad_1] Bakkt, a Bitcoin (BTC) futures platform still in development, is purportedly closing in on a Q3 launch date.An anonymous source close to the company reportedly shared this information with blockchain and crypto news publication The Block, according to a report on July 26.However, The Block says it has received a copy of a slide-deck indicating that Bakkt still needs the New York Department of Financial Services (NYDFS) to approve
ANALYSIS

SWIFT Vs. Ripple — The Importance of Speed in Cross-Border Payments

[ad_1] The emergence of blockchain technology has undoubtedly altered the course of global digital payment development. With the likes of Ripple and Facebook’s Libra challenging the monopoly of banks and other financial institutions, mainstream players like SWIFT, Visa and Mastercard have been forced to seek significant improvements to the legacy system.Moving forward, the burning issue appears to be relevance. Blockchain systems run on the premise of replacing the legacy system
ANALYSIS

Novogratz Predicts $20K Bitcoin in 2019 as Galaxy Digital Gets IPO Nod

[ad_1] Galaxy Digital CEO Mike Novogratz argued that institutional interest would push Bitcoin (BTC) price back to its all-time highs of $20,000 before the end of 2019. Novogratz delivered his comments in an interview with Bloomberg on July 25.  Speaking about where Bitcoin price will be going by the end of the year, Novogratz recalled the coin’s significant move from $4,000 to almost $13,500, further projecting that the price will likely
ANALYSIS

Japanese Financial Services Giant Monex Wants to Join Facebook’s Libra

[ad_1] Online brokerage Monex Group Inc., owner of the hacked Japanese crypto exchange Coincheck, plans to join the Facebook Libra cryptocurrency project.A report from Cointelegraph Japan today, July 26, reveals that Monex Group's CEO Oki Matsumoto announced the company had filed an application to join the Libra Association during a press conference on Monex's Q2 2019 financial results earlier this week.The Libra Association is the newly-established, independent governance consortium for
ANALYSIS

Nigerian Deposit Insurance Corporation Warns Against Crypto Dependency

[ad_1] The Nigeria Deposit Insurance Corporation (NDIC), a federal insurance overseer and safety net provider, has issued a public warning about relying on cryptocurrency transactions in a press release on July 25.According to the press release, managing director and CEO of NDIC Umaru Ibrahim said that relying on cryptocurrencies is very risky, because they are unregulated and unbacked by central banks in most financial jurisdictions. Much like the United States’s Federal
ANALYSIS

Court Calls on Craig Wright’s Wife to Testify in Ongoing Kleiman Case

[ad_1] Judge Bruce Reinhart, who is overseeing the ongoing Kleiman v. Wright case, has requested international assistance in order to call Ramona Watts, Craig Wright’s wife, to the stand.Judge Reinhart sent his request to the Senior Master of the Queen’s Bench Division of the High Court in Strand, London, according to a court filing dated July 22.As per the filing, Judge Reinhart sent the request because he believes that the
ANALYSIS

Ripple Sold Over $250 Million in XRP in the Second Quarter of 2019

[ad_1] Ripple, the company behind XRP, the third-largest cryptocurrency by market cap, has revealed that it sold $251.51 million in XRP in the second quarter of 2019. Ripple published its Q2 report on July 24.According to the report, Ripple sold approximately $169.42 million in XRP during Q1 2019. This means that quarter-to-quarter, XRP sales increased by approximately 48%.In relation to its quarterly XRP sales, the report states that Ripple will