Cryptocurrency Morning Brief
Jul 11, 2018
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- The Litecoin foundation has acquired 9.9% of a German bank, WEG Bank. The deal was announced with TokenPay which transferred the ownership to the Litecoin foundation. The foundation will be attempting to provide technical assistance in bringing cryptocurrency solutions to customers on various blockchain projects. TokenPay initially acquired its ownership in May for an undisclosed amount. The firm plans to purchase the rest of the bank if given regulatory approval. The funds derived for the transaction came from a token sale that took place in December 2017.
- Malta based blockchain company, Palladium, is launching the world’s first initial convertible coin offering (ICCO). The launch began yesterday at the Malta Stock Exchange. Palladium’s mission is to provide customers with a unified platform to manage multiple asset classes – both in fiat, and cryptocurrency. The press release mentions that the tokenized convertible warrant has been approved by the Malta Financial Services Authority (MFSA) and will be subject to EU rules. Investors will have the opportunity to convert their tokens to shares of Palladium after three years.
- Bitfinex has chosen Market Synergy as a platform for its institutional offering. Market Synergy has reportedly built a bespoke network for Bitfinex for institutional investors. The platform will provide outsourced connectivity and hosting services as well as a FIX feed and ISP link to the digital asset gateway.
- Co-founder of Ethereu, Vitalik Buterin recently spoke badly about centralized exchanges. Binance CEO, Changpeng Zhao commented on Buterin’s remarks and noted that centralized exchanges are part of the crypto ecosystem. Zhao noted that the cryptocurrency industry would be much different if it weren’t for centralized exchanges. Examples of centralized exchanges include Coinbase and Binance. Currently, Binance is looking to decentralize its exchange
- A private web browser for Android, Opera, will include a built-in crypto wallet. Opera’s web and mobile browser include anti-cryptojacking software. The crypto wallet will support Ethereum Web3 API, which will be the first major browser to open to Web 3.0 according to project manager Charles Hamel. Opera currently has 3.5% usage for all browsers globally according to June 2018 data.