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M.Y. Safra Bank will provide FDIC insurance to traders in a move organizers say will further reduce counterparty risk. Institutional cryptocurrency prime dealer SFOX has partnered with a New York bank to offer state-insured bank accounts for traders, the company confirmed in a blog post on May 14. SFOX, which says the move is an industry first, stated the deal with M.Y. Safra Bank primarily targeted institutional investors and funds. The company has been active in the trading space since 2014, and counts businesses such as Blockchain.com and Overstock subsidiary tZero among its clients. With Safra, SFOX traders will now have access to insurance through the United States government’s Federal Deposit Insurance Corporation (FDIC) worth up to $250,000. “SFOX’s partnership with M.Y. Safra Bank represents another step forward in our mission to provide our clients with the best place to trade cryptoassets,” CEO Akbar Thobhani commented in the blog post. He added: “M.Y. Safra’s Bank proven tr..
Switzerland’s national postal service Swiss Post has cooperated with blockchain firm Modum. Switzerland’s national postal service Swiss Post has cooperated with blockchain firm Modum to further develop a temperature monitoring solution for shipments. The news was reported by Swiss logistics news site Die Post on May 7. Die Post reports that Swiss Post has cooperated with Modum, a blockchain and Internet of Things (IoT) technology firm, as a technology partner to launch a smart service. Dubbed ThermoCare, the service is for monitoring the temperature of packages, enabling sensitive gods to be tracked, analyzed and recorded over the full course of their travel route. The solution is reported to be aimed at optimizing the transport of pharmaceutical goods in particular, as well as offering promise for the food industry. ThermoCare leverages Modum’s thermo-monitoring technology in order to ensure that specially packed goods — in ThermoCare boxes — are kept within a specified temperatur..
Ant Financial has participated in a $10 million Series A round and partnered with QEDIT. Ant Financial, the financial affiliate of Chinese e-commerce giant Alibaba, has participated in a $10 million Series A round for QEDIT, an Israeli blockchain privacy solutions firm that develops zero-knowledge proof (ZKP) technology. The news was reported by Israeli daily business newspaper Calcalist on May 7. The Series A was reportedly led by MizMaa Ventures, and its closing was announced alongside partnerships with Ant Financial, major software firm VMWare and RGAX, a subsidiary of Reinsurance Group of America. Both latter firms also participated in the financing round, alongside Meron Capital, venture capital firm Jovono, Collider Ventures and Target Global. The partnerships will reportedly see the companies cooperate with QEDIT to review their privacy products and implement ZKP technology at a corporate level. As Calcalist notes, QEDIT develops privacy solutions for enterprise blockchains tha..
SingularityNET, a blockchain-based AI firm, has entered into a strategic partnership with Domino’s Pizza Malaysia & Singapore. The Singapore and Malaysia division of Domino's Pizza has partnered with SingularityNET to boost its client base with blockchain-powered artificial intelligence (AI), according to a press release shared with Cointelegraph on May 1. Within the new partnership, SingularityNET’s experts will incorporate AI algorithms and solutions in Domino’s operations to facilitate expansion and growth in terms of supply chains and logistics in Malaysia and Singapore, the press release notes. Specifically, new AI features are set to be leveraged through the SingularityNET Beta platform, an Ethereum (ETH) blockchain-based decentralized marketplace launched in February 2019. According to the press release, Domino’s Pizza Malaysia & Singapore has more than 260 stores with a total staff of more than 4,000. As Cointelegraph reported previously, consumer could pay for Domino&..
Austin Transportation partnered with nonprofit Iota Foundation to develop a more interoperable transportation ecosystem. The government transportation department in the city of Austin, Texas partnered with nonprofit Iota Foundation to develop a more interoperable transportation ecosystem. The Austin Transportation Twitter account reported on the partnership on April 25. The tweet contained a link to an event — which took place on April 29 — featuring Dominik Schiener, co-founder of the Iota Foundation, and local authority holders delineating the scope of the partnership. During the meeting, the speakers describe their visions of a system in which every transit system can interact with the same payment app and a single digital identity. The speakers also suggest that this solution can be realized with Iota’s distributed ledger technology. Schiener stated that the only way to obtain such a frictionless and open value exchange system is to have a common, widely adopted standard. As Coint..
Crypto payment services firm BitPay has partnered with tax-related financial products company Refundo to enable people to get a portion of their tax refund back in bitcoin. Cryptocurrency payment services firm BitPay has partnered with tax-related financial products company Refundo to enable people to get a portion of their tax refund back in bitcoin (BTC). The development was announced in a press release shared with Cointelegraph on April 30. Refundo’s new product dubbed CoinRT allows taxpayers to receive all or a portion of the federal and state tax refunds in BTC through BitPay’s Payouts, purportedly ensuring low transaction fees, speed, and serving the underbanked. To start using the platform, taxpayers need to create an account, provide a bitcoin wallet address, and receive a unique routing and account number to input on their tax return. Customers then have to pass a Know Your Customer procedure, and once the Internal Revenue Service (IRS) or state deposit the refund, BitPay pro..
The incentive scheme for data collection will reward participants in Iota tokens, the companies confirm. United Kingdom car manufacturer Jaguar Land Rover will use blockchain network Iota to reward drivers with cryptocurrency for data reporting, the companies confirmed in a press release on April 29. Part of a plan to gather better information on road conditions and vehicle performance, Jaguar will distribute Iota’s Iota tokens to Smart Wallets tied to participating drivers. The drivers will then be able to redeem them for various products including road tolls and even coffee, Jaguar says. “In the future an autonomous car could drive itself to a charging station, recharge and pay, while its owner could choose to participate in the sharing economy — earning rewards from sharing useful data such as warning other cars of traffic jams,” Russell Vickers, a software architect at the company, commented in the press release. The partnership with Iota forms part of Jaguar’s Destination Zero sc..
United Kingdom-based cryptocurrency payment processor Wirex partnered with Stellar and will launch 26 stablecoin on its chain. United Kingdom-based cryptocurrency payment processor Wirex partnered with Stellar (XLM), the company announced in a press release on their website on April 24. Wirex is a company licensed by the U.K. Financial Conduct Authority (FCA) that allows crypto users to spend their cryptocurrencies with a dedicated Visa card, with a new total of nine digital token offerings. Per the announcement, users will now be able to also deposit and spend their XLM tokens through the service. Wirex has also announced plans to launch 26 stablecoins pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD. Wirex points out that currently most stablecoins are pegged to the U.S. dollar, and notes that the company hopes more variety will allow “for swift, international remittance without the need for local liquidity providers.” Wirex claims in the announcement that those are t..
R/GA Ventures, the investment arm of international marketing company R/GA, is opening a blockchain investment studio in Oregon. R/GA Ventures, the investment arm of international marketing company R/GA, is opening a blockchain investment studio in Oregon, the company announced in a press release published on April 24. The studio, dubbed Oregon Enterprise Blockchain Venture Studio (OEBVS), will be launched in partnership with several local companies participating in the blockchain industry. Namely, the release cites Moda, Umpqua Bank, Portland State University, Oregon Health & Science University, Business Oregon, ConsenSys and blockchain research firm Smith + Crown. Per the release, OEBVS aims to build a blockchain-based ecosystem and help the local businesses and institutions compete globally. The studio will reportedly focus on leveraging emerging startup products, services and tools to solve targeted business objectives for its partners and provide market opportunities, guidance a..
The new partnership between HMS and Solve.Care aims to reduce government healthcare costs and improve interoperability and accessibility. Major health information technology provider for the United States government, HMS Technologies Inc. (HMS) has partnered with blockchain startup Solve.Care. The development was announced in a press release shared with Cointelegraph on April 22. As part of the collaboration, HMS will reportedly integrate Solve.Care’s blockchain platform into their federal health information technology (HIT) initiatives in a bid to reduce government healthcare costs and improve interoperability and accessibility. Bill Kirkpatrick, CEO of HMS, said that the partnership will “enable disparate HIT applications to share secured health data via patient authorized access using unsecured Internet connectivity, improving care coordination while enhancing digital healthcare profiles and streamlining access to virtual healthcare services.” Last month, Solve.Care partnered with ..