– Circle has released the latest third-party attestation report on USD reserves
– Huobi has launched over-the-counter (OTC) service Huobi OTC Desk for high volume institutional clients
– Coinbase is negotiating the acquisition of bitcoin custody provider Xapo
Goldman Sachs-backed startup Circle has released the latest third-party attestation report on USD reserves backing issued USDC tokens.
The report states that as of April 30, 2019, the company issued 293,184,174 USDC tokens and had $293,351,374 in custody accounts.
***
Crypto exchange Huobi has launched over-the-counter (OTC) service Huobi OTC Desk for high volume institutional clients. The service supports both crypto-to-crypto and fiat-to-crypto transactions, including those made in USD, GBP, and EUR for BTC, ETH, and other cryptocurrencies.
Huobi OTC Desk is provided under Gibraltar’s Distributed Ledger Technology (DLT) regulatory framework.
***
According to The Block sources, the major US crypto exchange Coinbase is negotiating the acquisition of bitcoin custody provider Xapo.
“Xapo’s core product is cold storage vault custody of bitcoin, with rumors that the company holds as much as $5.5 billion of assets under custody (AUC) at the current BTC price near $8,000, reflecting ~700K bitcoin under custody. Xapo custodies 226,000 BTC that are part of Grayscale Bitcoin Trust,” reports The Block. “Under Xapo’s current business model, customers are not charged for storing their bitcoin. Rather, they generate revenue by enabling over-the-counter (OTC) trades for customers using the bitcoin under custody.”