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Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


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Crypto news in brief (July 17, 2018): Hong Kong, BlackRock, SIX Group, Coinbase, Stronghold, IBM, CFA Institute

July 17, 2018 By Crypto Reporter

– Hong Kong Monetary Authority will go live next month with a blockchain-backed trade finance platform
– BlackRock has set up a working group to assess the potential advantage of investments in cryptocurrencies
– SIX Group is planning to launch a platform for digital asset trading by mid-2019
– Stronghold in partnership with IBM launched a new cryptocurrency pegged to the U.S. dollar
– CFA Institute is adding topics on cryptocurrencies and blockchain to its curriculums

Hong Kong Monetary Authority will go live next month with a blockchain-backed trade finance platform developed by Chinese company Ping An Group. The platform will interconnect 21 banks, including HSBC and Standard Chartered.

FT reports that OneConnect, Ping An Group’s financial technology company, designed the Hong Kong trade finance platform using technologies it has already deployed in China.

***

BlackRock, the world’s largest asset management company, has set up a working group to assess the potential advantage of investments in cryptocurrencies.

According to Financial News, the $6.3tn investment powerhouse has created a team from different parts of the business to investigate cryptocurrencies and their underlying infrastructure.

***

SIX Group, which operates SIX Swiss Exchange, is planning to launch a platform for digital asset trading by mid-2019.

***

U.S.-based financial services provider Stronghold in partnership with IBM launched a new cryptocurrency pegged to the U.S. dollar. The stable coin named Stronghold USD is based on the Stellar blockchain platform.

Stronghold USD coins will be issued in exchange for US dollars based on 1-to-1 ratio. Dollars will be deposited with the Stronghold’s custodian Prime Trust, which is insured by the Federal Deposit Insurance Corporation (FDIC). Moreover, Stronghold platform allows to exchange U.S. dollars for any other tokens on the Stellar blockchain.

***

Coinbase, one of the largest cryptocurrency exchanges, has received approval from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to list digital coins regarded as securities.

***

CFA Institute, whose three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its curriculums for the first time next year. It might be the definitive sign that cryptocurrencies have arrived to the Wall Street.

More news:

  • Hong Kong to issue crypto exchange licenses and allow retail investors to trade coins
    Hong Kong to issue crypto exchange licenses and allow retail investors to trade coins
    February 27, 2023
  • BlackRock partners with Coinbase to offer clients access to crypto
    BlackRock partners with Coinbase to offer clients access to crypto
    August 12, 2022
  • BlackRock to offer crypto trading service
    BlackRock to offer crypto trading service
    February 11, 2022
  • BlackRock launches ETF with blockchain exposure for European clients
    BlackRock launches ETF with blockchain exposure for European clients
    October 2, 2022
  • Coinbase, Crypto.com and Bitstamp secure regulatory approval in Italy
    Coinbase, Crypto.com and Bitstamp secure regulatory approval in Italy
    July 26, 2022
  • CME Group to launch three metaverse indices 
    CME Group to launch three metaverse indices 
    January 20, 2023

Filed Under: General News, News Tagged With: BlackRock, CFA, Coinbase, cryptocurrency, IBM, news, news in brief, Stronghold, Stronghold USD

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