XRP Outperforming Market On News of Increased Crypto Investment
Aug 01, 2018
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- Big Four accounting firm KPMG reported that blockchain investments in CY2018 year-to-date have already exceeded CY2017’s total. The investments were led by R3, raising USD$107 million in 2018, and Circle Internet Finance, raising USD$110 million in Series E funding. KPMG expects the blockchain industry to continue its explosive growth, noting that “there’s more VC flow available than opportunities to invest…”1
- Sp8de, a casino app built off of Cardano’s (ADA) blockchain, has completed its second phase of minimal vial product (MVP) development. This phase further developed the randomness of variables, eased its integration to other platforms, and was done focusing on client library development. The project is expected to be completed by the end of the month.
- SBI Group, a Japanese financial services company, has announced plans to develop a platform to trade cryptocurrency derivatives. The platform would help crypto investors hedge their risk by offering cryptocurrency credit default swap (CDS) trading. SBI will accomplish this through its recent 12% purchase of North Carolina-based digital marketplace developer Clear Markets.
- Swissquote, a Switzerland-based online banking firm which recently added cryptocurrency investing to its services, has seen a 44% profit increase in this C1H2018 relative to C1H2017. Throughout the second half of CY2017, Swiss quote has allowed trading in Bitcoin (BTC) with the EUR and USD, as well as Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP).