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Boston Security Token Exchange, a platform jointly owned by BOX Digital Markets and tZERO, seeks the U.S. SEC’s approval to launch a market for security tokens. Boston Security Token Exchange (BSTX), a platform jointly owned by BOX Digital Markets and Overstock’s blockchain arm tZERO, has filed an application with the United States Securities and Exchange Commission (SEC) to approve the launch of a market for publicly traded registered security tokens. In the rule change proposal released by the SEC on Oct. 11, BOX asks the commission to “adopt rules to govern the trading of equity securities on the Exchange” which “would operate a fully automated, price/time priority execution system for the trading of ‘security tokens.’” Establishing its own listing standardsThe firm also hints at having its own listing standards by specifying that only tokens meeting them would be listed on the platform. The 129 pages long document explains in detail how the rules under which the exchange operates ..
Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) to promote its my-ID service and a dedicated alliance. Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) from seven investment companies participating in a Series A funding round. Per an Oct. 10 announcement, it was Iconloop’s first venture capital investment since its establishment in 2016, with the participation of companies such as Korea Technology Finance Corporation (KOTEC) and T.S. Investment, among others. Building blockchain-based identity authentication serviceIconloop is planning to allocate the raised funds to launching its blockchain-based digital identity authentication service called “my-ID”. According to the company, my-ID can be used for opening banking accounts without face-to-face verification and “allows for ID authentication information [...] to be saved to the user’s mobile phone so that users can reuse said information to open further accounts..
British decentralized communication startup New Vector has raised $8.5 million to promote an alternative messaging protocol. London-based decentralized communication startup New Vector has raised $8.5 million to drive adoption for Matrix, a major alternative messaging protocol. Slack rival Riot.IMThe Matrix protocol, which enables secure communication via end-to-end encrypted messaging applications such as Riot.IM, an alternative to WhatsApp, Telegram or Slack, will continue scaling and growing its network with the newly raised funds, New Vector announced on Oct. 10. Investors of the New Vector’s Series A funding round included London-based European seed fund Firstminute Capital, cloud computing and Software as a service (SaaS)-focused Notion Capital and enterprise software venture firm Dawn Capital, the firm said. As part of plans to fuel adoption of Matrix, the company will also dedicate funding to Matrix hosting platform Modular.im, the report notes. U.S. and French governments as ..
Bpifrance is one of the three major backers of Bitcoin’s Lightning Network implementation developer ACINQ. One of the developers of Bitcoin’s (BTC) Lightning Network has secured $8 million in funding from partners, including a bank partially owned by the French state. State-owned Bpifrance funds Lightning developmentIn a press release published on Oct. 9, Bitcoin technology company ACINQ confirmed the news. This brings its total investment to $10 million. The funding came from the lead contributor Idinvest Partners, which focuses on small and medium-sized European businesses. Also involved was Bpifrance, an investment bank created by two French public entities. As such, the government has come conspicuously close to directly funding the improvement of Bitcoin amid an apparent softening of its stance on cryptocurrency more broadly. Bpifrance’s digital investment director Véronique Jacq noted: “Cryptocurrency’s potential is becoming more and more obvious. In this area where there is sti..
Cryptocurrency exchange Coinbase is discussing the possibility of hiring the engineering team of Ripple-backed storage and rental startup Omni Rentals. United States-based cryptocurrency exchange Coinbase is currently discussing the possibility of hiring the engineering team of Ripple-backed storage and rental startup Omni Rentals, tech news outlet TechCrunch reported on Oct. 5. Not the only company interestedPer the report, two unspecified sources familiar with the situation told the outlet that Omni is currently struggling with layoffs and just lost seven operations team members. Besides Coinbase, the startup is also in talks with professional hiring intermediary Thumbtack for the same reason. Coinbase would reportedly employ the engineering team to further develop its Coinbase Earn education platform that is currently available in over 100 countries. It was first announced in December last year and lets users earn crypto for studying the ecosystem. Still, an official Coinbase spoke..
China Merchants Bank International is partnering with Nervos Network to jointly develop new decentralized finance applications. China Merchants Bank International (CBMI) is partnering with Nervos Network — a Chinese blockchain startup founded by a former researcher and developer of the Ethereum Foundation. A press release published on Oct. 3 revealed that the new partnership will focus on jointly developing decentralized finance (DeFi) applications and helping Nervos to grow its network in the financial services industry. A shift toward decentralization in financeNervos Network develops a suite of protocols and public blockchain ecosystem aimed at achieving the security, immutability and permissionless possibilities exemplified by the Bitcoin (BTC) network alongside smart contract functionality, Layer-2 scaling support and token economics. Nervos’ Common knowledge base (CKB) is its Layer-1, proof-of-work public and permissionless protocol that will be used as the native architecture ..
Allegations by Atlas Quantum are unfounded, HitBTC officials say, pointing to incorrect balance formatting in a publicity video. Cryptocurrency exchange HitBTC has denied allegations that it froze Brazillian investment startup Atlas Quantum’s funds, claiming the evidence is forged. Atlas Quantum claims the exchange froze $20.7MIn a Twitter argument which began on Oct. 2, the exchange said it had no record of blocking the accounts of Atlas Quantum. The latter had alleged in a video on Sept. 18 that HitBTC froze 1,862 BTC ($15.3 million) and over $5.4 million in stablecoin Tether (USDT) in its account. HitBTC then responded to the tweet continuing the complaint this week, which Atlas Quantum subsequently deleted. HitBTC: Atlas Quantum “forged” balancesCiting non-standard placement of figures in the balances of Atlas Quantum’s account, HitBTC officials claimed that the images of the account were fake, adding: “We cannot confirm the recently published claims by Atlas Quantum regarding ..
Crypto hedge fund Pantera Capital leads a $5 million strategic seed round of decentralized derivatives protocol Vega. Pantera Capital has led a $5 million strategic seed round of decentralized derivatives protocol Vega. According to the announcement published on Oct. 3, the round included participants such as Ripple’s investment arm Xpring, Hashed, NGC Ventures, gumi Cryptos Capital, Rockaway Blockchain, KR1, Eden Block, Focus Labs, Greenfield One, Monday Capital, RSK Ecosystem Fund, alongside a group of unnamed private investors. Against “profiteering, monitoring, and control” by privileged actorsPer the announcement, Vega is currently focused on designing and implementing its core protocol for secure and non-custodial decentralized margin trading. The software aims to disintermediate derivatives trading — in the company’s words, to eliminate the “rent-seeking middlemen endemic to traditional capital markets” and replace them with peer-to-peer mechanisms. As a Layer-2 solution, the ..
One of the biggest consumer adoption hurdles for crypto has been the inability for users to easily use crypto, whether as a means of payment or as currency. Paying in crypto largely depends on the merchant being able to accept the crypto - and with thousands of digital assets to choose from, it can be very difficult to use certain altcoins. As a currency, spending crypto today can have a very different value the next day, and so users can never really predict how much their crypto is worth at any given time. Beneath these two issues is the simple solution of simply exchanging that crypto to cash. But the way exchanges are set up, users have less incentive to do this. Firstly, the long wait to get cash to bank accounts. Secondly, the poor rates of exchange, and high fees. Crypto Credit Cards: the Answer? So when startups started to offer crypto debit cards, it seemed like a brilliant idea. Cards that instantly exchanged crypto in an account for cash to be spent at any participating..
Decentralized finance startup InstaDApp has secured $2.4 million in a seed round from an array of strategic investors, including Coinbase Ventures and Pantera Capital. Decentralized finance (DeFi) startup InstaDApp has secured $2.4 million in a seed round from an array of strategic investors, including Coinbase Ventures and Pantera Capital. New fundingPer an Oct. 1 blog post, InstaDApp saw funding from investment firms Coinbase Ventures, Pantera Capital, Robot Ventures, venture capital company IDEO Colab and a number of other investors. InstaDApp is the developer of a mediator smart wallet layer between the user interface and protocols that purportedly simplifies the cost of conducting financial transactions. The startup claims that its protocol launch saw a substantial growth, with the value locked in their smart contracts increasing by a factor of 9, from $4 million to more than $35 million. This ostensibly brought InstaDApp to the third position in total value locked after MakerDAO..