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Nasdaq-Powered Exchange to Launch EU-Regulated Tokenized Stock Trading

Estonian-based digital exchange will use technical products from Nasdaq to offer tokenized securities in major corporations. Estonian digital trading platform DX Exchange will begin offering tokenized stocks on the Ethereum blockchain next week, the company confirmed in a press release Jan. 3. DX, which will reportedly be the first exchange to offer such trading in a fully regulated environment in the European Union, will use Nasdaq’s Financial Information exchange (FIX) protocol to deliver the product. According to the company’s press release, cryptocurrency users will be able to purchase tokens that will be backed by stocks in various major companies, including Google, Facebook and Amazon. The shares will be purchased on users’ behalf by MPS MarketPlace Securities Ltd., with which DX has an exclusive partnership agreement. “Digital stocks combine the best of both worlds: blockchain technology and traditional stock investments,” the company explained in the press release, continuing:..

Christmas Rally May Be An Indication That Bitcoin Is Independent Of...

One of the most frequently asked questions in the cryptocurrency space is whether the Bitcoin (BTC) price is tethered to the overall performance of the US stock market. This current Christmas crypto market rally may be an indication that Bitcoin (BTC) and other digital coins are independent of the U.S. stock market. United States Stock Market Plunges Until Q3 of 2018, the United States stock market has performed well compared to the digital asset market. The digital asset market has slogged throughout a year of losses. Now the tide is turning and the U.S. stock market is now experiencing a plunge after a start that saw it record another strong year coming out of 2017. As from early October, the S&P Nasdaq Composite Index and the Dow Jones Industrial Average wiped out the majority of the gains recorded by the stock market in 2018. The Dow Jones Industrial Average recorded what can only be tagged as the biggest loses since nearly 90 years ago loosing 16.3% from Oct to Dec alone. The yea..

Hong Kong Stock Market Regulator ‘Reluctant’ to Greenlight Bitmain IPO, Sources...

Bitmain’s IPO faces fresh claims that it is unlikely to launch under current regulatory conditions in Hong Kong. Hong Kong stock market regulator is reportedly reluctant to allow Bitcoin mining equipment manufacturer Bitmain to conduct an initial public offering (IPO) in the city. Local English-language newspaper South China Morning Post (SCMP) made this claim in an article published Dec. 19, with reference to anonymous sources. Citing two “sources familiar with the matter,” SCMP poured more cold water on the plans of mining giant Bitmain to go public, just a day after the Hong Kong Stock Exchange (HKEX) told Cointelegraph that any hesitation on part of the company was “rumors.” According to the publication’s sources, Hong Kong’s stock market regulator thinks it is “premature for any cryptocurrency trading platform – or business associated with the industry – to raise funds through an IPO in Hong Kong before the proper regulatory framework is in place.” As a result, SCMP suggests, cur..

Hong Kong Stock Exchange Calls Alleged Bitmain IPO Hesitation ‘Rumors’

Recent reports claim that the Hong Kong stock exchange is “hesitant” to consider a Bitmain IPO due to current market conditions. A Hong Kong Stock Exchange (HKEX) spokesperson has called Bitmain’s alleged hesitation around a purported initial public offering (IPO) “rumors,” in an email to Cointelegraph Dec. 17. When asked for verification and details on the crypto mining firm’s IPO status, the spokesperson responded that “HKEX does not comment on rumors.” Blockchain and crypto media had previously reported that the exchange was “hesitant” to host its IPO because of market conditions surrounding the overall crypto mining business. Anonymous sources have reportedly claimed that “the exchange is very hesitant to actually approve these Bitcoin (BTC) mining companies because the industry is so volatile. There’s a real risk that they could just not exist anymore in a year or two.” The slump in crypto markets that followed 2017’s record highs has been difficult to bear for many crypto mining..

Germany’s Second Largest Stock Exchange, SolarisBank Partner to Launch Crypto Exchange

SolarisBank and Stuttgart Exchange Group are jointly developing a crypto exchange meant to be launched in the first half of next year. SolarisBank and Stuttgart Exchange Group are jointly developing infrastructure for a cryptocurrency exchange, Cointelegraph Germany reports Dec. 12. The Stuttgart Exchange, founded in 1860, is the second largest stock exchange in Germany and the ninth largest in Europe. SolarisBank, on the other hand, is a German fintech company established in 2015 that holds a banking license and offers a “Banking as a Platform” service. This news goes along with the plans announced by the exchange in May to release a zero-fee cryptocurrency trading application. The two companies’ crypto exchange, “which is scheduled to launch in the first half of 2019,” will have SolarisBank acting as the exchange’s banking platform. Roland Folz, the CEO of SolarisBank, declared that “a reliable and efficient trading platform is an elementary contribution to [their] vision of a hybri..

Gibraltar Stock Exchange’s Blockchain Platform Secures Licence From Financial Regulator

The Gibraltar Blockchain Exchange is now a fully licenced provider of Distributed Ledger Technology. The Gibraltar Blockchain Exchange (GBX) has secured a license from the Gibraltar Financial Services Commission (GFSC), according to a company blog post Nov. 22. The GBX was established in July of this year by the Gibraltar Stock Exchange (GSX). The platform first announced its blockchain trading platform in November 2017, aiming to “become the world’s first nationally regulated digital asset marketplace and ecosystem.” “As from 21st November 2018, the GBX will operate as a fully licenced provider of Distributed Ledger Technology (DLT), regulated by the Gibraltar Financial Services Commission under Gibraltar’s Financial Services Regulations 2018 DLT framework,” the announcement reads. Per the statement, the move makes the GSX the first regulated stock exchange to own and operates a regulated blockchain exchange. Currently the GBX supports trading in six digital assets, including Bitcoin..

Major Swiss Stock Exchange SIX Lists the World’s First Crypto ETP...

The fourth largest European stock exchange, SIX Swiss Exchange, will list the world’s first crypto exchange-traded product next week. Switzerland's principal stock exchange SIX Swiss Exchange will list the world’s first crypto-based exchange-traded product (ETP) next week, the Financial Times (FT) reported Saturday, Nov. 16. Backed by the Swiss startup Amun AG, the first global crypto ETP will be listed under index HODL, and will track five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). According to the article, each cryptocurrency will acquire a certain market share within the upcoming ETP, with Bitcoin accounting for around half of the ETP’s assets. The rest are set to be divided in fractions, with 25.4 percent in now-second cryptocurrency XRP, and 16.7 percent in Ethereum, while Bitcoin Cash and Litecoin will acquire 5.2 and 3 percent of the market, respectively. Amun’s co-founder and chief executive Hany Rashwan co..

Swiss Stock Exchange: Blockchain-Based Exchanges Will Replace Traditional Ones in 10...

Swiss stock exchange SIX, which is set to launch a blockchain-powered platform in mid-2019, believes digital exchanges will replace traditional ones in a decade. Digital exchanges based on blockchain technology will completely replace traditional ones in ten years, Thomas Zeeb of Swiss leading stock exchange SIX told Reuters Wednesday, Nov. 14. “The existing system could be completely replaced by the digital exchange in about 10 years,” said Zeeb, who is leading the securities and exchanges department at SIX. “The moment that brokers, banks, insurance companies and big asset managers really see the cost advantages [of blockchain], they’ll move relatively quickly,” he further added. Zeeb talked to Reuters in the wake of the launch of SIX’s own digital exchange (SDX), scheduled to start working in mid-2019. As soon as the legal issues with the Swiss government and the country’s financial market regulator (FINMA) are clarified, the company is going to offer trading in selected stocks, fo..

JP Morgan Identifies Three Companies Whose Stock Could Benefit From Blockchain

Investment bank J.P. Morgan Chase has named three companies whose stock could benefit from their deployments of blockchain technology. Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial intelligence (AI). As Cointelegraph reported yesterday, some companies have started to drop using the term “blockchain,” as they believe the word is overhyped and too often used as a marketing ploy. However, J.P. Morgan outlined three companies that will purportedly create “material incremental growth opportunities” from the technology. Per J.P. Morgan, those beneficiaries are American content delivery network and cloud service provider Akamai Technologies Inc., San Fra..

Hong Kong Stock Exchange Partners With Blockchain Firm to Improve Post-Trade...

The Hong Kong Stock Exchange has teamed up with blockchain firm Digital Asset to accelerate post-trade processes and reduce settlement risks. The Hong Kong Exchanges and Clearing Limited (HKEX) has partnered with blockchain firm Digital Asset to accelerate the post-trade process, financial news agency Finextra reports Oct. 31. HKEX had been working with Digital Asset to test a prototype system “in an effort to accelerate the post-trade process and reduce settlement risk.” According to Finextra, the system was tested by HKEX and the Shanghai and Shenzhen stock exchanges, in a collaboration called “Stock Connect.” The Stock Connect project lets international and mainland Chinese investors trade in each other's markets via their home exchanges' platforms to improve the efficiency of northbound trades. According to the report, the parties are now planning to release a full service platform that aims to solve the problem of discrepancies in time zones and other settlement and ope..
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