A crypto enthusiast who took out a six-figure loan to purchase cryptocurrencies has seen them lose almost 85% of their value.
Barbados-based blockchain startup Bitt is partnering with the Centrale Bank van Curaçao en Sint Maarten (CBCS) to look into issuing a central bank-backed digital currency for the two nations. Bitt, a portfolio company of Overstock’s Medici Ventures, said Monday that it has signed a memorandum of understanding (MOU) with the central bank for the Dutch Caribbean island Curaçao and… Read More »
The Commonwealth Bank of Australia has been chosen by the World Bank Group to help issue a bond on a blockchain.
Advertisement Hyun Song Shin, Economic Adviser and Head of Research of the Switzerland-based Bank for International Settlements (BIS), told Bloomberg that bitcoin and other cryptocurrencies “fall a long way short of being able to sustain a monetary system” and really only “masquerade” as real currencies. Speaking in the latest episode of the Bloomberg Benchmark podcast, Shin argued that money,… Read More »
IBM and shipping giant Maersk have recruited a sturdy crew for their global trade blockchain platform. Revealed Wednesday, the companies have already signed up 94 firms for the platform since it was spun off from Maersk in January. They have also finally given it a name: TradeLens. Leveraging Maersk’s leviathan-like scale, TradeLens has attracted a wide variety of entities,… Read More »
U.K. banking giant Barclays is challenging up-and-coming blockchain coders to help revamp the global derivatives market at a hackathon next month. Revealed exclusively to CoinDesk, DerivHack will take place simultaneously in London and New York on September 20-21 at Barclays’ Rise accelerator spaces. The International Swaps and Derivatives Association (ISDA), Deloitte and Thomson Reuters are co-sponsoring the event. … Read More »
There’s no shortage of breathless hype about blockchain. What’s harder to find is a sober and nuanced discussion of the technology’s merits and drawbacks for a particular use case. For such a perspective, it can help to talk to different people at the same company who have been studying the matter and reached divergent conclusions. It’s not a… Read More »
Advertisement Two bank employees have been working on setting up a new cryptocurrency trading desk in Barclays, one of the UK’s ‘Big Four’ banks. At least, that’s what it says on their LinkedIn profiles. Business Insider reports that Chris Tyler’s profile stated that he’s been “hired to produce a business plan for integrating a digital assets trading desk… Read More »
Advertisement Despite rising competition from other countries seeking to capitalize on the cryptocurrency boom, Switzerland’s Crypto Valley looks poised to get its moxie back. Swiss Bank Maerki Baumman Will Offer Accounts to Cryptocurrency Firms That’s because a second Swiss bank — the Zurich-based private bank Maerki Baumann — has agreed to form banking partnership with cryptocurrency firms, solving… Read More »
Having launched bitcoin futures trading in May, Goldman Sachs is now pondering the launch of a cryptocurrency custody service, according to Bloomberg. In a report published Monday, the news service cites anonymous sources as saying that the investment bank is mulling the creation of a secure storage service aimed at crypto funds to help protect them against the risk of… Read More »