Another One-Stop-Crypto-Shop In Making, CBDC Test + More News

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Crypto Briefs is your daily bite-sized summary of cryptocurrency and blockchain-related news – examining the stories that fly under the radar of current crypto news.

M&A news

  • New York-based institutional trading company Genesis has taken over Vo1t, an insured digital storage service. Per the press release, the addition will complement Genesis’s existing services, including global over-the-counter trading and institutional loans, and will also enable the company to launch its Prime Services later this year, which will include Genesis describes as “a one-stop shop for trading, lending and securing digital assets.”

Adoption news

  • The French central bank, Banque de France, said it successfully tested a digital euro, its central bank digital currency (CBDC), operating on a blockchain on May 14. According to the announcement, the bank cooperated with Société Générale Forge on this trial, while more trials will be launched in the future in collaboration with other players, on the basis of the requests received as part of the March call for the use of a central bank digital euro in interbank regulation. to test.
  • Cryptocurrency payment processor CoinPayments has announced a strategic partnership with a global trading company Shopify, which brings the payment processing platform to all Shopify merchants. According to In the press release, CoinPayments is now becoming a visible payment option for merchants on the trading company’s platform, making cryptocurrency transactions more accessible and reducing transaction costs. The partnership also allows for cross-border payments, simplifying work with multiple payment processors in different jurisdictions.
  • After community approval of necessary contracts, UMA project, a decentralized financial (DeFi) project, created its first ETHBTC. Per the announcement, this is a synthetic token made on the Ethereum mainnet, collateral given with DAI. It follows the ETHBTC price ratio – if ETH performs better than BTC, the token value will increase, and if ETH performs below par, the token value will decrease.
  • Payment and cryptocurrency platform Crypto.com (CRO) calls for partners. Per The tweet from CEO Kris Marszalek and the official channels a, Crypto.com Debit Card White Label Program calls for exchanges, purses and projects to participate, and states that they can issue debit cards with the partner’s brand, deliver the infrastructure and ship in the US, Europe and Asia . The platform also has announced today it is preparing to roll out the MCO Visa Card program in Canada, following launches in Singapore (2018), the US (2019) and Europe (2020).

Exchanges news

  • Even after the pandemic-induced lockdown ends, a large crypto exchange is taking place Coinbase will allow its employees to work remotely. In an open letter to all employees, Coinbase CEO Brian Armstrong said that after quarantine, the exchange will be “remote-first” – it will provide the ability to work in an office or remotely for the vast majority of roles. According to their estimates, between 20% and 60% of the company will work remotely once the limitations of COVID-19 are lifted, and if successful, the remote population is likely to grow organically.

Blockchain news

  • The Monex GroupCEO Oki Matsumoto participated in a $ 1.8 million investment in a blockchain startup called Toposware, per a press release shared on The Bridge. The Monex Group’s crypto and blockchain portfolio continues to diversify. As well as buying the Coincheck trading platform in 2018, the Japanese securities company has also launched an American crypto trading platform for it TradeStation operations and has invested in the ErisX crypto exchange. Other investors in Toposware include Kenji Kasahara, the head of the social network platform Mixi.
  • Can 5G help improve blockchain functionality? Per Chinese media channel Sina, Chinese telecom companies that want to roll out ‘blockchain + 5G’ solutions, are now trying to answer this question. They want to improve their blockchain offering, which is likely to leverage 5G’s distributed application protocols, as well as improved transaction speeds and traceability features.
  • Several Chinese media organizations have formed what is known as a ‘blockchain-powered news department’. reports China Email. The news section consists of at least 12 television stations, radio channels, local newspapers and web-based media channels across the country. The collective says it will leverage industry 4.0 powered solutions to distribute traceable and more reliable news stories, audio files and videos recorded as blocks on a blockchain network.
  • American think tank Value Technology Foundation published one report supported by U.S. Congressman Darren Soto entitled “Potential Blockchain Use by the United States Department of Defense,” with a number of major companies contributing, including Amazon, IBM, Deloitte, Accenture, CGI Federal, ConsenSys, SIMBA chain, and Colvin Run Networks. The report provides ways that cybersecurity efforts can take advantage of distributed ledger technology, blockchain’s use cases and their potential benefits, as well as the specific use cases of interest to the department.

Mining news

  • Russian Bitcoin (BTC) miners use old Soviet-era infrastructure to mine crypto, per Forklog. The media channel reports that the Bratsk Hydroelectric Power Station, once the jewel in the crown of the USSR in Eastern Siberia, was sold as a commercial venture in 2018 – and now houses some 25,000 mining facilities, housed in what was once a nearby aluminum plant used to be . The power plant was built during Nikita Khrushchev’s premiership in the 1960s.

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