29 October

“Liink now invites its 400-plus financial institutions (including 25 of the largest 50 banks) to start building on top of the platform.

Liink was designed to connect banks in a peer-to-peer fashion and help them remove the pain points from cross-border payments and other functions.

While Liink is not open-source like Quorum or, say, R3’s Corda network, JPMorgan is encouraging collaboration within the network and also expanding it beyond banks.

Liink as a new brand comes at a pivotal time, as we look to re-architect how money, information and assets move across the globe.

All told, it looks like JPM’s Liink is shaping up to be a potential SWIFT killer.”

See Also: Ethereum Developer ConsenSys to Assist French Bank With CBDC Pilot

“The card will be available in all states except Hawaii and comes with a new rewards feature – 4% back in stellar or 1% back in bitcoin. Any cryptocurrencies that Coinbase supports in the U.S. (and that a user holds in their account) can be spent through the debit card.

Coinbase Card has been active in the U.K. and European Union since April 2019 and currently operates in 30 countries.

Industry trends illustrate increased consumer activity. Now Coinbase is taking mainstream adoption of crypto one step further by introducing Coinbase Card in the U.S.

“Avanti, like Kraken, now has to jump through a few hoops – like raising more capital – before it can be granted a certificate of authority to operate.

Along with the charter approval, the banking board approved Avanti’s future issuance of Avit, a programmable electronic currency that’s redeemable at par with a U.S. dollar. The Avit will be issued initially on Bitcoin sidechain Liquid and then on Ethereum.

Kraken definitely captured attention, but now that there’s a second one chartered it’s no longer a one-off situation and a trend is in motion.”

See Also: BitLicense Holder SoFi’s Application to Create a National Bank Conditionally Approved by US

Bakong’s launch grants Cambodians a state-sanctioned platform for conducting instant mobile payments, with QR codes and phone numbers connecting digital wallets over a blockchain.

Unlike most central bank digital currency projects, Bakong does not involve digitally native money; it is entirely fiat-backed. Cambodia sees Bakong as a critical step in modernizing its payment system and de-dollarizing its economy.

The National Bank of Cambodia hosts Bakong atop the Hyperledger Iroha blockchain.”

“The cryptocurrency looked overbought and vulnerable to minor pullback early today, having rallied by over 20% this month alone. However, the pullback’s magnitude is likely being amplified by the losses in the global stock markets.

Risk appetite has weakened as the second wave of the coronavirus is accelerating across Europe and in the U.S. and threatening to derail the fragile global economic recovery.

While the possibility of bitcoin extending losses on continued risk aversion cannot be ruled out, fundamental metrics like the market value to realized value Z-score indicate the broader trend for the cryptocurrency is bullish.”

You should expect that we will purchase additional bitcoin as we generate cash beyond what we need to run the business on a day to day basis.

Besides the 22% return on its BTC investment, the company has seen another benefit from its foray into cryptocurrency – increased visibility.”

“CER’s criteria included several factors such as whether a DEX underwent security audit, the availability of bug bounties and if it had proper SSL/TLS certificates. CER deemed any score below 6 as “low” and, thus, “not safe.” Only two of the DEXs received a “high” score: Uniswap and Syntetyx.

Remarking on the incredible growth of DeFi in the last few months, the researchers concluded that DEX users are more exposed to fraud than hacks.”

Projects that distribute tokens to insiders (team, founders, and VCs) at the expense of the community put themselves at a disadvantage.

A substantial allocation to insiders has an opportunity cost. These coins could be used instead to incentivize the community. In addition, insiders typically get their tokens either for free or at substantial discounts, which allows them to sell early, driving prices down.

Moreover, the authors say that all of these blockchains (with the exception of Kadena and Nervos Network) employ proof-of-stake consensus — which they believe only exacerbates the problem:

Rebalancing the ratio of insider to community network ownership post-launch is an uphill battle, one that can be more difficult for Proof-of-Stake (PoS) networks since early stakeholders have a perpetual claim on seigniorage.”

See Also: ‘Hyperinflation’ DeFi coins hit the hardest in crash: Report

“U.S. authorities have taken legal action to obtain information from Boston-based consulting giant Bain & Company on Visa’s acquisition of Plaid.

Citizens’ financial lives often require a number of apps or platforms, countless transactions, and siloed information. Plaid aimed to bridge the disconnect between those platforms and their involved information.

Earlier this year, following the acquisition’s announcement, Plaid faced at least two lawsuits. The first surfaced in June, alleging Plaid used customers’ information for its own gain. The second legal action came out in July, claiming a breach of privacy requirements.”