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#CryptoCorner: Green Market Going Into Weekend, SEC Commissioner Says Bitcoin ETF Will "Eventually" Be Approved, Credit Suisse and Banco Best Execute End-to-End Fund Transaction on Blockchain and Bithumb Launches OTC Platform ORTUS (Friday, February 8th) #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - February 8, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID ( NASDAQ: NXTD ) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: Green Market Going Into Weekend, SEC Commissioner Says Bitcoin ETF Will "Eventually" Be Approved
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Green Market Going Into Weekend, SEC Commissioner Says Bitcoin ETF Will "Eventually" Be Approved, Credit Suisse and Banco Best Execute End-to-End Fund Transaction on Blockchain and Bithumb Launches OTC Platform ORTUS Stocks discussed: (NYSE:CS)
As we prepare to enter another weekend the crypto market has turned green as coins show an impressive recovery. CoinMarketCap indicates that total capitalization is sitting at $116 billion at press time, up about $5 billion since yesterday. The top three coins listed by market cap remain Bitcoin ( BTC ), XRP and Ether ( ETH ) which have grown 2.7 percent, 3.3 percent and 6.7 percent in the last 24 hours, respectively. Surprisingly they are trailed by Litecoin ( LTC ) which has posted an astonishing 18 percent growth over the last day.
In an interview with Roll Call , SEC Commissioner Robert J. Jackson Jr. expressed confidence that a bitcoin exchange traded fund (ETF) would be given the green light by agency at some point.
"Eventually, do I think someone will satisfy the standards that we've laid out there? I hope so, yes, and I think so."
Jackson affirmed that proposals have gotten better at mitigating risks to investors, but referring to the SEC's deliberation and rejection of the Winklevoss brothers' bitcoin ETF in July, Jackson admitted that it wasn't a hard choice as the proposal was too risky for investors.
"I'm happy to say market participants have begun to come in with ideas. Whether or not we're going to find one that really protects investors I don't know, but I do know that that case wasn't especially close."
According to a press release yesterday, investment bank Credit Suisse ( NYSE:CS ) and Portugal's Banco Best have successfully completed a live end-to-end fund transaction using blockchain-based decentralized platform FundsDLT. The piece states that the FundsDLT transaction was "more efficient, scalable, and timely in processing" than previous models of cross-border transactions. Carlos Almeida, Director of Investments, Banco Best commented:
"This proof of concept is a great achievement and reinforces Banco Best's commitment to be ahead of the curve. We want to be involved in blockchain technology to work together with all stakeholders in order to adapt and seize new opportunities in our business model, with the ambition to improve the customer experience and to promote financial inclusion."
South Korea's Bithumb, one of the country's largest crypto exchanges, has officially launched ORTUS, the company's global over-the-counter (OTC) platform. The press release lists the following services available to clients from ORTUS once they have received approval:
- Monitored fund transfers from insured, custodian wallet and a US-based bank account
- Competitive pricing from the world's largest OTC desks and liquidity providers.
- Responsive, attentive support from a global team of Business Development Managers (BDM), from onboarding to trade execution and settlement
- Global offices in Asia, Europe, America and Australia
- Support from BDMs whose backgrounds range from legal, asset management, investment banking, FX and OTC trading desks
Sam Mowers, Investorideas
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