– The Financial Blockchain Shenzhen Consortium (FISCO) announced the launch of a coinless open-source blockchain platform
– Coinbase has launched stablecoin USDC, backed one-to-one by U.S. dollar
– Alibaba Cloud expanded its Blockchain as a Service (BaaS) offering outside of China
– The UK Royal Mint has suspended its plan to launch gold-backed cryptourrency Royal Mint Gold (RMG)
– Japan’s financial regulator has approved an association of cryptocurrency exchanges as a self-regulatory industry body
The Financial Blockchain Shenzhen Consortium (FISCO) announced the launch of FISCO BCOS, a coinless open-source blockchain platform designed to meet the regulatory and operational requirements of the financial industry.
FISCO is one of the largest blockchain consortiums in China. It consists of 100+ members, including tech giants Huawei and Tencent.
Coinbase, major U.S. crypto exchange, has launched stablecoin USDC, backed one-to-one by U.S. dollar.
Technically, USDC is an ERC-20 token, based on the Ethereum blockchain.
The underlying technology behind USDC was developed collaboratively between Coinbase and fintech company Circle.
USDC is the first stablecoin supported by Coinbase.
Alibaba Cloud, the cloud computing arm of Alibaba Group, expanded its Blockchain as a Service (BaaS) offering to major global markets including South East Asia, U.S and Europe.
The official press-release states Alibaba Cloud already has a proven track record of enabling multi-scenario applications (such as public benefits systems, logistics and medical industries) through its BaaS blockchain technology since its official launch in October 2017.
Intercontinental Exchange’s cryptocurrency trading platform Bakkt could get a green-light to launch its bitcoin futures product as soon as next week, according to anonymous source with direct knowledge of the situation.
The UK Royal Mint has suspended its plan to launch gold-backed cryptourrency Royal Mint Gold (RMG).
Reuters reports that after its partnership with the CME Group failed the UK government “vetoed a plan to have the tokens trade on a cryptocurrency exchange”.
Initially, the Royal Mint announced its plan to issue gold-backed tokens in 2016, saying they would give investors an easy way to buy and trade physical gold held in its vaults. The tokens were to be traded on a blockchain-based trading platform run by CME.
The Financial Services Agency (FSA), Japan‘s financial regulator, has approved an association of cryptocurrency exchanges as a self-regulatory industry body.
The FSA said in a notice that it has provided the Japan Virtual Currency Exchange Association (JVCEA) with a status that will let it set rules for the nation’s crypto exchanges and take action over any violations.