One of China’s big four banks has released the second version of its blockchain trading platform following transactions exceeding $50 billion. The China Construction Bank (CCB) officially released the second version of its blockchain trading platform, which reached 360 billion yuan ($50 billion) in cumulative transaction volume. CCB will actively promote blockchain platform On Oct.…
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Cryptocurrency exchange Bitfinex announces the latest update to its mobile app, which now includes derivatives trading support. Cryptocurrency exchange Bitfinex has announced the latest updates and optimizations to its mobile app. New version features support for derivatives trading On Oct. 11, cryptocurrency trading platform Bitfinex presented the newest version of the Bitfinex mobile app, which…
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American cryptocurrency exchange Coinbase has launched an iOS mobile app for its professional trading platform Coinbase Pro. Major American cryptocurrency exchange Coinbase has launched a mobile app for its professional trading platform Coinbase Pro. Coinbase introduced the app in an Oct. 10 announcement. It provides access to more than 50 trading pairs for users in…
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Decentralized trading services can help users conduct an impartial analysis, hedge risks and even trade without any experience. In cryptocurrency trading, everything is based on price movements, with market participants’ success depending on their ability to predict and quickly respond to this dynamic environment. Forecasting, however, is not always that easy, especially when it comes to…
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Intercontinental Exchange, the governing body behind the New York Stock Exchange, has executed the first block trade of Bakkt Bitcoin futures contract. Intercontinental Exchange (ICE), the governing body behind the New York Stock Exchange, has executed the first block trade of Bakkt Bitcoin (BTC) futures contracts. ICE revealed the development in an Oct. 4 press…
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Investor giant Vanguard is testing a blockchain-powered platform that allows asset managers to trade currencies while avoiding the big investment banks.
The Vanguard Group is testing a blockchain-powered platform that will allow asset managers to trade currencies while avoiding the big investment banks.
On Oct. 3, Bloomberg reported that the United States-registered investment advisor group, Vanguard, is going after a piece of the global currency market that handles $6 trillion each day and is dominated by firms such as JPMorgan Chase and Deutsche Bank AG.
A source familiar with the matter said that the newly tested blockchain platform has been operational for over two months while handling several trades already.
By entering the global currency market, Vanguard could unsettle some of the major investment banks that have ruled the sector for decades.
Campbell Adams, a former senior currency trader at Deutsche Bank, believes this could happen if enough users join Vanguard’s platform. He said:
“In theory, it sounds great because you can reduce your costs if you can match directly with someone else who has a countervailing interest. Yet it will require a critical mass of users.”
Vanguard, which has over $5 trillion in assets under management, is “currently piloting a project focused on improving the efficiency and reducing the risk of FX hedging,” a spokeswoman for the investment group said, without going into further details.
Cointelegraph previously reported on Sept. 20 that OCBCbecame the first Singapore-based bank to join JPMorgan Chase’s blockchain network and is now one of the 134 banks from the Asia-Pacific region that are participants in the Interbank Information Network (IIN).
Germany’s largest bank, Deutsche Bank, joined IIN in the beginning of September. JPMorgan said it is targeting 400 agreements with banks by the end of 2019, hinting that more leading banks are set to join the network in the near future.
Investment management company Stone Ridge is trying to register a new Bitcoin futures offering with the U.S. Securities and Exchange Commission. Investment management company Stone Ridge is trying to register a new Bitcoin (BTC) futures offering with the United States Securities and Exchange Commission (SEC). The new fund is called NYDIG Bitcoin Strategy Fund and…
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Swiss Digital Exchange, a crypto trading platform by SIX Swiss Exchange, reportedly plans to launch its initial digital offering in 2020. Swiss Digital Exchange (SDX), a digital asset trading platform by Switzerland’s principal SIX Swiss Exchange, will reportedly launch its initial digital offering (IDO) in 2020. SDX security token The not-yet-launched SDX has reportedly set…
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Binance launches two Binance Futures testnet platforms, inviting users to participate in trading and voting promotions. Binance has launched two futures testnet platforms — inviting users to participate in a 10,000 Binance Coin (BNB) trading competition. Two promotions during testing The major crypto exchange has launched two futures trading platforms named Futures A and Futures B in…
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After a slump last week, the price of Bitcoin has again crossed the $10,000 mark in a recent rally. The price of Bitcoin (BTC) has rallied over the past few days and has again crossed the $10,000 threshold. Bitcoin 7-day chart. Source: Coin360 On Aug. 28, Bitcoin dropped $600 in the course of a half-hour…
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