Autor Cointelegraph By Arnold Kirimi

Blockchain.com launches asset management for institutional investors

Blockchain.com launches asset management for institutional investors

Uverejnil používateľ | apr 6, 2022 |

Blockchain.com, a cryptocurrency exchange and financial services firm, has reportedly launched an asset-management service for its wealthy customers.According to Bloomberg, the service is known as BCAM and will serve institutions, family offices and high-net-worth individuals. BCAM was founded in collaboration with Altis Partners, a futures portfolio manager that also manages investment portfolios using blockchain technology. Blockchain.com is the underlying platform that powers BCAM.The new service, which has yet to be officially announced by either Blockchain.com or Altis Partners, is based on a strategy that tracks the price of Bitcoin versus the U.S. dollar. It’s also developing a new approach for investors, called “algorithm-based risk-managed exposure,” which aims to reduce the volatility of Bitcoin investment, as per the report.During an interview, Charlie McGarraugh, the company’s chief strategy officer, reportedly said the firm is also developing a product that manages exposure to decentralized-finance coins linked to apps that let people trade, borrow and lend without an intermediary. The launch of the new service, McGarraugh said, is a signal that Blockchain.com continues to double down on its institutional business.Cointelegraph reached out to Blockchain.com for comment but did not receive a response as of press time. This article will be updated if and when more information is obtained.BCAM’s debut comes just days after Blockchain.com raised fresh financing, raising its valuation from $5.2 billion to $14 billion. The round was led by Lightspeed Venture Partners, with Baillie Gifford & Co. and other investors participating.Related: Blockchain.com acquires SeSocio to cement presence in Latin AmericaBlockchain.com was launched in 2011 and is now one of the world’s largest cryptocurrency firms, providing a comprehensive range of blockchain-based financial services, including its exchange platform and crypto wallets, as well as specialized institutional products. It has 37 million verified users and more than $1 trillion in total transaction value, as per its website.

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Female investors led crypto market growth in 2021, says new report

Female investors led crypto market growth in 2021, says new report

Uverejnil používateľ | apr 6, 2022 |

The crypto market is maturing and is no longer driven by speculation, according to a new report from BTC Markets (BTCM). According to the report by the Australian cryptocurrency exchange, the crypto market’s growth in 2021 was driven by utility.The BTCM Investor Study Report 2021 is an in-depth analysis of data from the BTCM exchange for the year 2021, divided by demographics (age, gender, investor type) to anonymously examine and analyze cryptocurrency investment habits among its 325,000 customers.As per the report, “crypto queens” or rather female investors on the platform have grown at a faster rate than their male counterparts. Female investors surged by 126% in comparison to male investors, who increased by 83%.According to the report, the most significant influx of new clients for BTCM in 2021 came from Australia’s “mature wealth accumulators,” who are 45 to 59 years old and have a 79% increase year over year. The trend is encouraging, according to BTC Markets CEO Caroline Bowler, owing to the cautious risk appetite of this age group as they start to prepare for retirement. She added:”They bring a wealth of experience in traditional investment markets and their decision to invest in crypto is not driven by the fear of missing out (FOMO) but on strategic research and information.” BTC Markets also revealed that Bitcoin (BTC) and Ethereum (ETH) continued to be the most traded tokens on the BTCM platform in 2021, while Tether (USDT) emerged as a new entrant in the top five traded cryptocurrencies. The average value of trades executed on the platform increased by 48%, with daily orders increasing by 42%. Additionally, the average volume of trades executed on the platform rose by 118%. According to BTC Markets, the significant growth is due to a greater number of investors recognizing the utility of cryptocurrencies.Related: Almost half of Germans to invest in crypto: ReportAlthough individual investors account for the bulk of users on the BTCM platform, sole traders (196%), companies (79%) and self-managed super funds (SMSFs) (74%) performed better than retail (66%) in 2021. Per the report, the size of the SMSF investment grew significantly, with initial deposits now in the hundreds of thousands rather than tens of thousands, and the average portfolio sizes for companies rose by 61%.

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Top Israeli bank to accept BTC and ETH trading through Paxos' collaboration

Top Israeli bank to accept BTC and ETH trading through Paxos' collaboration

Uverejnil používateľ | mar 25, 2022 |

Leumi Bank, one of the largest lenders in Israel, reportedly started to accept Bitcoin (BTC) and Ether (ETH) trading.According to a Thursday report by Reuters, Pepper Invest, Leumi’s digital platform, partnered with blockchain infrastructure provider Paxos to launch crypto trading. Pepper Invest clients can now buy, sell and hold cryptocurrencies using the new service.The move will only support BTC and ETH before adding support for other crypto assets. In addition, the minimum transaction value for cryptocurrencies was set at around $15.50 (50 shekels), as per the report.There is currently no start date announced, and the new move is pending regulatory approval. The report highlighted that:”Pepper will collect tax according to the guidelines of the Israeli Tax Authority so that customers will not need to manage tax complexities.”Banks in many countries were previously hesitant to accept BTC and other cryptocurrencies, but that situation has changed as demand from corporations and individual customers have increased. Regulators have also shifted their attention away from outright bans and toward the development of a regulatory framework.Leumi Bank had previously prohibited crypto exchange Bits Of Gold’s account, citing regulatory concerns. However, a Supreme Court ruling back then, as reported by Cointelegraph, declared that Leumi Bank cannot block the crypto exchange’s account.Cointelegraph reached out to Paxos for more information and the story will be updated with a response.Related: US investment bank Cowen launches dedicated crypto divisionThe development is significant, as it represents a paradigm shift in the global financial sector’s attitude towards digital assets. DBS of Singapore is already supplying crypto trading services to businesses and will extend these offerings to retail clients by the end of the year.Furthermore, KB Bank in South Korea is readying to provide crypto investment solutions to individual clients, and several other institutions are considering similar possibilities.

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Portsmouth embraces Bitcoin payments for city bills

Portsmouth embraces Bitcoin payments for city bills

Uverejnil používateľ | mar 24, 2022 |

In an effort to embrace virtual money, the city of Portsmouth, New Hampshire, will allow residents to pay their bills in Bitcoin (BTC) and other cryptocurrencies. Deaglan McEachern, the city’s mayor, proposed the idea to city officials, who feel it will provide residents with more payment choices.As per a local news report from Seacoastonline on March 23, Mayor McEachern said that “there are waves of new things that will affect us in terms of our future that use the type of technology used in cryptocurrency.” He went on to say:”I want to make sure Portsmouth is not waiting around to see how this is going to affect us in the future because it’s already affecting us.”McEachern said the City Hall has learned a lot more about cryptocurrencies and blockchains, as well as how to utilize them for improved city services. He also mentioned that any cryptocurrency payments would be immediately converted into U.S. dollars so that the change would have no impact on the city’s monetary practices.Governments’ interest in cryptocurrencies is on the rise, as evidenced by this project. Miami and New York, for example, have been friendly to cryptocurrency adoption. As reported by Cointelegraph in mid-February, Colorado governor Jared Polis said the state government will allow residents to pay taxes in crypto as early as summer 2022.Related: US lawmaker pushes for state-level regulations on stablecoins at hearing on digital assetsUnited States lawmakers have proposed handling any potential regulatory uncertainty around digital assets on a state level rather than waiting for a congress framework. Back in February, a Tennessee House of Representatives member proposed allowing the state to invest in cryptocurrency and nonfungible tokens.

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Qatar exploring digital banks and central bank digital currencies

Qatar exploring digital banks and central bank digital currencies

Uverejnil používateľ | mar 18, 2022 |

The Qatar Central Bank (QCB) is reportedly investigating the possibility of launching a digital currency and issuing digital bank licenses. According to the head of the fintech section at QCB, Alanood Abdullah Al Muftah, the central bank is expected to set a direction for its future focus soon on a range of fintech verticals. Al Muftah noted that QCB will also determine whether Qatar can establish a central bank digital currency (CBDC). She explained:”Each central bank should study digital banks, considering their growing significance in the global market. We also see the direction of the market moving towards having a digital currency. However, it’s still being studied whether we’re having a digital currency or not.”While commenting on Qatar’s regulatory sandbox, Al Muftah said that three firms in the payments sector are currently testing solutions with the central bank. She also stated that the QCB is considering other firms interested in utilizing the regulatory sandbox.A regulatory sandbox is a space in which fintech firms can test new products, services, business models, and delivery mechanisms in a real-world setting while benefiting from an accelerated authorization process and supervisory monitoring.Private Qatari bank Dukhan Bank, meanwhile, is examining the possibility of creating a digital bank in Qatar, its chief operations and digital officer Narayanan Srinivasan told The Peninsula. However, Srinivasan warned that his institution would only build a digital bank after a better understanding of its economics. As per the report, Dukhan Bank is also considering blockchain technology in the payments sector.Related: The Philippines to launch pilot CBDC implementationAlthough private virtual currencies like Bitcoin (BTC) have grown in popularity and followers, government-backed CBDCs, frequently regarded as an antithesis to private cryptocurrencies, have been accelerating rapidly. According to data from the Atlantic Council, as of June 2019, 87 nations are currently developing their own digital currency, with only 14 having completed the pilot phase. Nine countries have already implemented a CBDC. .

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