blog

Latest from the Quantamize Blog

Cryptocurrencies are in the green as US investment firm Fidelity announces launch of Fidelity Digital Asset Services

Oct 15, 2018

Start Your Free Trial Today

 

Top 5 Cryptocurrencies sorted by 24 hour Volume

On Mobile/Tablet scroll to the right

Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$6573.87 -0.2% 3.93% -1.23% USD$113,885,705,418 USD$7,224,375,378
Ethereum ETH USD$207.06 0.42% 4.18% -9.81% USD$21,242,255,196 USD$2,827,959,793
XRP XRP USD$0.44 1.13% 6.2% -9.46% USD$17,744,960,755 USD$1,031,549,016
EOS EOS USD$5.44 -0.06% 4.36% -8.28% USD$4,925,702,362 USD$916,242,984
Bitcoin Cash BCH USD$457.69 -0.21% 2.78% -13.12% USD$7,965,754,219 USD$564,979,915

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

On Mobile/Tablet scroll to the right

Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
XRP XRP USD$0.44 1.13% 6.2% -9.46% USD$17,744,960,755 USD$1,031,549,016
OmiseGO OMG USD$3.18 -0.2% 4.6% -9.57% USD$446,551,359 USD$24,887,303
Monero XMR USD$107.15 1.98% 4.55% -6.54% USD$1,767,054,477 USD$33,329,522
EOS EOS USD$5.44 -0.06% 4.36% -8.28% USD$4,925,702,362 USD$916,242,984
Ethereum ETH USD$207.06 0.42% 4.18% -9.81% USD$21,242,255,196 USD$2,827,959,793

Crypto News

  • Adam White, former head of institutional products at major US cryptocurrency exchange, Coinbase and the firm’s fifth employee, is joining Bakkt, a venture launched by Intercontinental Exchange (ICE). White will be joining Bakkt as the firm’s Chief Operating Officer. This news comes after reports broke a few weeks ago detailing that White had left Coinbase. In citing reasons for the move, White told Fortune that he believes ICE’s Bakkt venture will be a catalyst for institutional investors, “waiting on the sidelines,” to enter crypto markets.  
  • Binance, the world’s largest cryptocurrency exchange by trading volume, announced that it would open its fiat-to-cryptocurrency in Uganda this week. Binance Uganda detailed in a press release that the branch would officially start accepting deposits of Ugandan shillings (UGX) on Wednesday, October 17th, 2018. The press release also notes that UGX will only be available to trade through either Bitcoin or Ethereum, but more pairs are coming soon. Binance Uganda will be the first fiat-to-cryptocurrency exchange in Uganda.  
  • Bitpay, a Bitcoin payments processor, has announced that its merchants will begin accepting USD-pegged stablecoins Gemini Dollar (GUSD) and USD Coin (USDC). Previously, merchants were only allowed to accept payments in Bitcoin, Bitcoin Cash, physical US Dollars, and physical Euros. An important detail of this announcement is that Bitpay will not be accepting payments in stablecoin Tether (USDT) -- this is notable as just last night, Tether dipped far below its 1:1 US Dollar-peg to below USD$0.90/USDT.  
  • Large South Korean financial holding company, KB Financial Group, was awarded a patent for a blockchain-based fintech app security solution. KB Financial Group maintains roughly USD$342 billion in assets under management and is the owner of KB Kookmin Bank, South Korea’s largest domestic bank. KB’s patent details an “essential” blockchain-based security program that separates itself from individual fintech applications, meaning security is enhanced across multiple applications. KB is set to test the implementation of the new patented application in overseas markets, specifically Southeast Asia.  
  • Steven Wozniak, co-founder of Apple, announced that he has co-founded a recently launched blockchain-focused venture capital fund, EQUI Global. This announcement comes after Wozniak detailed in August of plans to become “involved” in a blockchain project. EQUI Global aims to disrupt the concept of the traditional venture capital fund by allowing non-institutional investors to invest in the fund while enabling investors to trade on cryptocurrency exchanges via EquiTokens. Equi Global will target “sophisticated” investors, according to a report by Verdict, a global business news outlet.  
  • The world’s third largest cryptocurrency by market capitalization, OKEx, announced today that they would begin listing four different stablecoins at one time -- these stablecoins include TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX). All four of these stablecoins are available for trading on OKEx as of Monday, October 15th, 2018 at 5:00 PM Hong Kong Time. This news comes as Tether (USDT), the world’s second largest cryptocurrency by daily volume and largest stablecoin by market capitalization, dipped late last night below USD$0.90/token, representing more than a 10% dip from its initial 1:1 peg to the US Dollar and a catastrophic loss in value for a stablecoin.  
  • US investment firm, Fidelity, has announced the launch of a new company, Fidelity Digital Asset Services. Fidelity Digital Asset Services will offer customers custody and trade execution services for digital assets, specifically targeting hedge funds, family offices, and market intermediaries -- Fidelity Digital Asset Services will not offer these services to retail customers. While explaining the decision to launch Fidelity Digital Asset Services, Fidelity cited research from Greenwich Associates that found 7-% of institutional finance executives believe cryptocurrencies will have a role in the future of the financial sector. Fidelity currently works with over 13,000 institutional clients while managing over USD$7.2 trillion of client assets. 

 

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://cointelegraph.com/news/confirmed-coinbase-veteran-adam-white-joins-ices-crypto-platform-bakkt 
https://cointelegraph.com/news/binance-launches-its-first-fiat-crypto-exchange-in-uganda 
https://www.ccn.com/bitcoin-payment-processor-bitpay-launches-stablecoin-settlement-tethers-not-invited/ 
https://www.ccn.com/employee-5-coinbase-veteran-adam-white-joins-ices-crypto-platform-bakkt/ 
https://cointelegraph.com/news/major-korean-financial-holding-company-wins-blockchain-patent-for-improved-fintech-security 
https://cointelegraph.com/news/apples-steve-wozniak-co-founds-blockchain-focused-venture-capital-fund 
https://cointelegraph.com/news/third-top-cryptocurrency-exchange-okex-lists-four-stablecoins-at-once 
https://www.coindesk.com/crypto-exchange-okex-lists-4-new-stablecoins/ 
https://cointelegraph.com/news/investment-giant-fidelity-launches-digital-assets-services-targeting-institutional-investors 
https://www.ccn.com/mainstream-7-2-trillion-asset-manager-fidelity-will-help-customers-invest-in-bitcoin/ 
https://www.coindesk.com/fidelity-reveals-cryptocurrency-and-digital-asset-trading-platform/ 
https://bitcoinist.com/with-stocks-looking-rocky-fidelity-has-launched-a-new-company-to-allow-hedge-funds-to-trade-bitcoin-and-ethereum/