- Acinox
The Weekly Bull - October 25, 2019.
The Numbers Game
The cryptocurrency market took a sharp decline in terms of global market cap this week whereas the trading volumes remain the same. Currently, the global market cap and trading volumes stand at $205bnand $56bn respectively while the week started with a global market cap of $220bn and trading volumes of $52bn.
The News
The Bakkt platform is getting set to launch new Bitcoin trading derivatives. As of December, users of the regulated platform will be able to trade the Bakkt Bitcoin Options contract. NewsBTC.
Credits and IBM partner up to make IOT data more secure. The project is primarily targetted towards supply chain management right now but it holds the potential to grow into other fields in the long term. AMBCrypto.
Binance adds its first fiat trading pair and hints on adding more pairs in the future. Currently, Binance has its eyes on the Nigerian market as it has now allowed the Nigerian population to trade crypto with Nigeria’s native currency. Naira. NewsBTC.
A bank in Belarus has effectively gotten the green light to process transfers related to digital assets. DFS, an affiliated company of Belveb Banking Holding’s member VEB Technologies, was recently registered as a resident of the High Technologies Park. The country’s special economic zone has already become home to many crypto businesses. News.Bitcoin
Following on from its landmark partnership with HTC, Bitcoin.com has partnered with Canadian gaming and lottery giant Bravio Technologies. The partnership will see Bitcoin.com increase its Bitcoin Cash reach into international lotteries, one of the world’s most lucrative industries. News.Bitcoin.
Banking services platform Cashaa is offering a solution for Indian crypto owners facing banking restrictions imposed by the country’s central bank, the Reserve Bank of India (RBI). The service allows users to deposit up to 1 crore rupees (~$141,012) per month to purchase cryptocurrencies. Inc42.
MoreFrom, the UK based and multi-award-winning IT and office product independent retailer, will now enable consumers to make purchases via Dash and other cryptocurrencies thanks to a partnership with Utrust. DNF.
Regulatory Updates
The strict financial regulator in Malaysia is trying to help the local fintech industry scale up and attract new investors. As part of that trend, the Malaysia Securities Commission is recognizing the right of cryptocurrency exchanges such as Luno to serve local customers. News.Bitcoin.
The Street
The Indian banking sector is facing multiple challenges. Customers of several cooperative banks are still struggling to withdraw their money, and deaths have been reported in connection with withdrawal restrictions. Meanwhile, some 300,000 state-run bank employees are on strike against what the bank unions call “cold-blooded murder of six banks.” News.Bitcoin.