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cryptocurrency July 16, 2018

Big names in the news for cryptocurrency investment, Thailand makes news with corporate bond settlements, and the Hong Kong Monetary Authority brings together 21 banks for trading improvements.

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Big Names Join The Cryptocurrency Investment World

As reported by ccn.com, BlackRock is exploring cryptocurrencies, primarily investing in cryptocurrency futures alongside other avenues to gain exposure. Further, EOSIO announced on its blog that Peter Thiel has led a strategic investment round to invest in Block.One, the parent company behind the EOS.IO blockchain software. Both parties are joining or looking to join the cryptocurrency arena during what most consider a bear market.

Thailand Securities Company Plans Token For Instant Settlement of Bonds

The Thai Bond Market Association (TBMA) is creating a blockchain based token for instant clearing and settlement of corporate bonds, as seen on ccn.com. The blockchain is designed to be private, with permissions, and is running in three phases for launch. The first phase is expected to launch in August 2018. Currently the clearing and settlement process involves middlemen and takes two days to complete.

Hong Kong Monetary Authority Brings Together 21 Banks For New Blockchain Trade Finance Platform

As reported by Cointelegraph, the Hong Kong Monetary Authority will launch its own Blockchain trade finance platform this August, with 21 different banks involved. The project is a joint venture with Ping An Group’s fintech subsidiary OneConnect, a Chinese company. Some transactions will process in one day versus the current 14 day process. This is the supposed first time that a regulator has been involved in bringing banks together in order to improve trade-finance.

Source: ICO Alert

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