Facebook Plans to Launch Cryptocurrency in First Half of 2019: NYT Report – coindesk.com
Facebook is talking to exchanges about potentially listing a cryptocurrency.
The Facebook project, which had previously been reported by Bloomberg as a stablecoin for its WhatsApp messaging service, would be the most high profile of the bunch. The social media giant has 2.5 billion global users.
Facebook is reportedly talking to crypto exchanges about listing its –theblockcrypto.com
In another way, forbes.com reported that Facebook is looking at several ways to use the blockchain, the technology introduced by Bitcoin that makes it possible to keep shared records of financial transactions on several computers, rather than relying on one big central player like PayPal or Visa.
Facebook is looking at pegging the value of its coin to a basket of different foreign currencies, rather than just the dollar, three people briefed on the plans said. Facebook could guarantee the value of the coin by backing every coin with a set number of dollars, euros and other national currencies held in Facebook bank accounts.
JP Morgan Is Quietly Testing Cutting-Edge Ethereum Privacy Tech – coindesk.com
“It’s being tested by the most important bank in blockchain today. JPMorgan Quorum actually.”Fresh off its big reveal of JPM Coin, the megabank is quietly testing a cutting-edge form of ethereum privacy tech.
Online Loan Platform SoFi Will Offer Crypto Trading Through Coinbase – coindesk.com
SoFi, a millennial-focused online lending platform, will allow its customers to buy cryptocurrency through a partnership with Coinbase starting in the second quarter, CNBC reported Tuesday.
In addition to enabling such purchases, the partnership will let SoFi customers track the prices for various cryptocurrencies, similar to an arrangement Coinbase has for retail customers of Fidelity Investments, though the latter tie-up does not allow crypto trading. (Fidelity separately plans to launch trading of digital assets for institutional clients through its own platform this year.
Report: Blockchain Home Equity Loan Platform Raises $65 Million – cointelegraph.com
The firm, which was founded by SoFi founder and former CEO Mike Cagney, reportedly raised the funds from such majors as Morgan Creek, DST Global, DCM, Ribbit Capital and Nimble Ventures. The recent investment bumps the total funds raised by the firm up to $120 million, according to TechCrunch.
“Our target audience wants to see what the price of cryptocurrency is, and to buy it. They have a desire to do that and in many cases they already are.”
“One of the biggest takeaways is that at SoFi, we grew so fast and we never really understood what we were going to grow into, and culture never took a front seat. [At Figure] we have a very clear adherence to a ‘no-asshole’ policy.”
Blockchain startup Nivaura gets funding from London Stock Exchange Group – theblockcrypto.com
As reported coindesk.com, Nivaura CEO Dr. Avtar Sehra said that this year, Nivaura plans “a series of high-profile, large-scale projects with high-caliber partners to demonstrate our platform as a valuable solution across the full spectrum of capital markets primary issuance activities,” adding:“We’re seeing growing appetite from major financial institutions for practical innovation that goes beyond buzzwords and conceptual PoCs in ‘digital investment banking.’”
“What we are doing is not magical. We are technologists and financial engineers, but we also understand regulation very deeply. We work within the existing regulation rather than try to drive change in regulation because that’s very hard. To change legislation takes decades.”
“The blockchain aspect we are considering, it’s not something banks and other firms will want to use right now. But ultimately we think that’s where the future is and that’s why clients are working with us.”
New York Startup Raises $6.5 Million to Store Crypto For Institutions: Clear Rise in Demand – newsbtc.com
A New York-headquartered cryptography pioneer has raised $6.5 million in order to create a new institutional standard for crypto asset security.
In an industry first, the firm has unveiled an Institutional Digital Asset Wallet Service aimed at the bigger financial players that need more security and autonomy over their crypto assets.
The Institutional Digital Asset Wallet Service is a subscription service that will be available starting March 25th, 2019 the report added. Exchanges, custodians, fintechs and institutional investors are currently using it in private beta. Curv CEO, Itay Malinger, added; “We are focused on unleashing the potential of blockchains with our revolutionary approach to digital asset security. We give customers a way to securely integrate and manage all their digital assets, so they can easily transact and thrive in the digital world.”
Fidelity Backs Coin Metrics in $1.9 Million Funding Round – financemagnates.com & theblockcrypto.com
The asset management firm is also developing its own crypto trading platform.
The firm announced Thursday that it has raised $1.9 million of venture funding. Castle Island Ventures led the financing round with participation from investors including Fidelity Investments, Highland Capital Partners and Dragonfly Capital as wrote theblockcrypto.com.
The round was led by Castle Island Ventures and was also participated by Highland Capital Partners and Dragonfly Capital.
Coin Metrics’ initial target will be crypto enthusiasts and medium to large hedge funds. The firm says it plans to see revenue in the next 30–90 days. And while Coin Metrics is looking to target institutions, the firm clarifies that it will continue to maintain its popular free data services for the crypto community: “we will never degrade the quality of the community feed — it will be much enhanced in the coming months and years. Our core objective remains making blockchain data available for the broader community.” –“All of our investors are bought into the idea that the next phase of crypto asset investing requires robust comprehensive data and infrastructure. Having this premier group as investors is a great vote of confidence,” Tim Rice, co-founder and CEO of Coin Matrics, said.
As per the 28th February announcement, the blockchain analytics startup is has released its first suite of commercial products offering the institutional clients customized research report.
“We are building a world-class data company from the ground up to ensure the type of support and quality that top tier funds and asset managers expect. Coin Metrics is leveraging its groundbreaking work in on-chain network data by deploying the same rigor to exchange market data supported by a state-of-the-art data collection and delivery infrastructure,” he added. – financemagnates.com
A former ConsenSys exec has raised for a fund that’ll squeeze more alpha out of Ether – theblockcrypto.com
DARMA Capital, an investment firm led by James Slazas, formerly head of capital markets at ConsenSys, announced the launch of its new ether fund, the so-called DARMA Optimized Long-ETH Fund (DOL-ETH).
The fund, in a sense, provides a hedge for long-term ether holders interested in squeezing bigger returns out of cryptocurrency. The fund is also long biased, taking contributions in ether, and aiming to outperform the price performance of the crypto with an active investment strategy.
The firm is on track to raise as much as $50 million for the new fund by the end of March, with the expectations to grow AUM as it builds out treasury services. DARMA also plans to launch similar funds for other cryptos in the future, Slazas says.
Pangea Blockchain Fund raises $22M, plans to invest in ‘market-defining blockchain technologies’ – theblockcrypto.com
Copernicus Asset Management SA and Bitcoin.com Partner with Hedge Fund Veterans to Offer Capital Solutions and Startup Resources to Early-Stage Companies“Blockchain technology has the potential to change the nature of the systems that lie beneath the things we do every day and could be the greatest driver of value creation in our lifetime,” said Blockchain Investment Advisory Sagl co-founder James Duplessie. “Our team’s investment thesis is based on the profoundly important reality that blockchain will fundamentally alter the way society collaborates, transacts, governs and brings new concepts to life. We have chosen the name ‘Pangea’ for our business – because it means ‘whole earth’ – highlighting our intention to use blockchain as a means to provide unifying and transformative change to the world.”
“Blockchain represents a new paradigm for the way information is shared, and the use cases for a transparent, verifiable register of data transactions are endless,” said Maggie Rokkum-Testi, Chief Investment Officer of Copernicus. “This technology will touch and transform every industry, from energy and public utilities to retail and healthcare. Due to its unique investment strategy and diverse understanding of both traditional and non-traditional markets, the Advisory teams are uniquely equipped to understand and capitalize on an opportunity of this magnitude. We’re excited to be early partners and to play an active role in fostering the individuals and companies designing these new economic, social and political systems.” – businesswire.com