An announcement has been made by Mars Blockchain regarding the launching of the first Singapore dollar pegged blockchain asset, 1SG on two cryptocurrency exchanges, Kryptono Exchange and Top.one Exchange. Its Team commented, “Mars Blockchain is thankful to have the opportunity for 1SG to be listed on Kryptono Exchange & Top.one Exchange.”
Blythe Masters, one of the most influential women in the crypto world and former JPMorgan executive resigns from head of Blockchain startup Digital Asset citing personal reasons. Through her lead company entered valuable deals with Australian Securities Exchange (ASX) and SIX Swiss Exchange. AG Gangadhar, will now be the new CEO, in past he was with Amazon, Google, and Uber.
Tagomi Holdings, a digital assets electronic brokerage which is endorsed by venture capital firm owned by Peter Thiel, former aide of US president Donald Trump has officially launched. Jennifer Campbell, the CEO of Tagomi said, “Our focus is on providing our clients, a comprehensive solution that eases the operational challenges associated with trading at scale in this emerging asset class.”
TokenSoft, Security token platform has invested in a broker-dealer which is now renamed as TokenSoft Global Markets it expects to acquire 100 percent of TokenSoft Global Markets. But as it is registered with the Securities and Exchange Commission (SEC) it needs the regulatory nod. It also offers technology and security products that help companies to manage digital assets.
The startup Good Money, a Digital banking platform, received a funding of $30 million to build its app. It aims to develop a bank in which every customer will own some equity, offer free ATM card, low loan rates, 2% on FDCI savings. They are planning to launch the app in 2019.
A report reviewing the existing legislation and assessment on cryptocurrency-related activities has been submitted by Vietnam’s Ministry of Justice to the government. According to the report, the ministries and departments of Vietnam have unveiled their plan in establishing an appropriate legal framework for the digital asset to balance the risk and potential associated to the industry.
The Fidelity Investment Inc has expressed its intention to establish a cryptocurrency-focused Fidelity Digital Assets firm. The firm is aimed at providing blockchain and digital asset solutions to investors and corporations. The CEO and Chairman, Abigail Johnson expressed, “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors.”
The QuadrigaCX, the digital currency exchange, has accused the Canadian Imperial Bank of Commerce (CIBC) for delaying transactions to some users. The exchange is encountering issues while accessing $21.6 million of its funds as the banks froze five accounts of Custodian Inc and its owner. The exchange claimed that the bank wrongly froze the funds.
The Gemini Trust Company has revealed about the insurance coverage for its custodial assets provided by a group of insurers led by the Aon Company. The Head of Risks at the Gemini exchange, Yusuf Hussain stated, “Consumers are looking for the same levels of insured protection they’re used to being afforded by traditional financial institutions.
The SEC has been working hard to legitimize the digital assets and Initial Coin Offerings (ICOs) industry in the country as its regulation remains uncertain. The efforts by the SEC indicate that the financial watchdog has planned to legitimize since no indication of banning the industry showed before. The SEC needs to provide a clearer regulation as the industry is emerging rapidly.