Ledger and Nomura’s Crypto Custody Launch May Be Delayed to 2020

Ledger’s partnership with Japanese bank Nomura is still in full swing, but launching the institutional-grade custody solution for digital assets may take longer than expected, the crypto startup’s president said. Speaking to CoinDesk on Wednesday, Pascal Gauthier preemptively scotched rumors that the partnership was off. Without prompting, he said: “There is a fake rumor in the market that Nomura has ditched Ledger from the joint venture and now is considering other options with other technology companies. So that is not true. That is a false rumour.” Announced almost a year ago, a joint venture…

Gate.io Raises $64 Million for Launch of New Exchange Cryptocurrency

Crypto exchange Gate.io has raised $64 million worth of crypto assets in seven days for its own exchange cryptocurrency that won’t be launched on a blockchain for at least six months. One of the oldest Chinese exchanges, Gate.io claimed on Monday that over the last week it was heavily oversubscribed with orders totaling $2.99 billion for the so-called Gate Points, which can be used for offsetting trading fees on the platform. Moreover, each Gate Point further entitles a holder to receive 2.5 Gate Tokens (GT), the native cryptocurrency of Gatechain, the…

Rakuten Begins Registrations for Cryptocurrency Exchange Ahead of June Launch

Japanese internet giant Rakuten has begun letting prospective users of its Rakuten Wallet cryptocurrency exchange open accounts, Cointelegraph Japan reported on April 15. Rakuten, which plans to launch the exchange in June, now offers online registration for traders, all of whom need a Rakuten user ID and associated bank account to complete the process. The company took over Everybody’s Bitcoin platform in 2018, introducing changes that allowed it to procure a license for the operation from Japanese regulators in December. Everybody’s Bitcoin had previously been cited by regulators for deficiencies…

LedgerX Makes Bid to Launch Physically-Settled BTC Futures Product for Retail Investors

United States-regulated crypto derivatives and clearing platform LedgerX is eyeing the launch of a physically-settled bitcoin (BTC) futures contract, the company confirmed to Cointelegraph on April 16. LedgerX, which is overseen by the U.S. Commodities Future Trading Commission (CFTC), has applied for a designated contract market license that would allow it to launch the new futures product. Whereas the BTC futures contracts currently listed on CME are ultimately settled in fiat, a physically-settled version would see traders paid out in bitcoin upon contracts’ expiration. According to LedgerX co-founder Juthica Chou,…

Major Japanese Fintech Firm Halts Plans to Launch Crypto Exchange, Citing Bear Market

Money Forward Inc., the operator of one of Japan’s most popular personal budgeting apps, has resolved to halt its plans to launch a crypto asset exchange. The development was reported by Cointelegraph Japan today, April 15. As previously reported, Money Forward had established a dedicated subsidiary in May 2018 for its crypto exchange project. It had intended to launch a crypto media platform, followed by a crypto exchange and the construction of a digital assets remittance and settlement system. Today’s announcement reveals that the company’s board of directors has opted…

IMF and World Bank Launch Educational Blockchain Token

The International Monetary Fund (IMF) and the World Bank have launched a crypto token called “Learning Coin” to better understand how blockchain technology works. The two institutions said that the coin would have no monetary value and would not be made openly available, the Financial Times reported Saturday. To support the token, the IMF and the World Bank have also launched a private blockchain network. The project is aimed to build “a strong knowledge base” around blockchain technology among staff at the organizations. The IMF said in the report: “The development of…

LedgerX Reveals Bid to Beat Bakkt to Physical Bitcoin Futures Launch

Cryptocurrency derivatives provider LedgerX plans to become the first U.S. firm to offer physically settled bitcoin futures contracts. The company announced Monday that it has filed for a designated contract market (DCM) license, which would allow LedgerX to offer physically-settled bitcoin futures products to its customers. Unlike the cash-settled bitcoin futures offered by CME Group (and previously, Cboe), customers would receive the actual bitcoin underlying a contract after it expires, rather than the U.S. dollar equivalent. And perhaps more notably, LedgerX can target retail investors with its new offering, said…

IMF and World Bank Launch Quasi-Cryptocurrency in Exploration of Blockchain Tech

The International Monetary Fund (IMF) and the World Bank have jointly launched a private blockchain and a so-dubbed quasi-cryptocurrency, the Financial Times (FT) reports on April 12. According to the newspaper, the asset called “Learning Coin” will be accessible only within the IMF and World Bank. The coin has no money value and thus is not a real cryptocurrency, the FT underlines. As the FT has learned, “Learning Coin” was launched in order to better understand the technologies that underlie crypto assets. Its app will serve as a hub where…

Cryptocurrency Exchange ‘IEO’ Draws Suspicion for Plans to Sell Tokens Ahead of Launch

Digital currency and transaction platform Algorand has refused to endorse an attempt by cryptocurrency exchange Bgogo to sell its unreleased tokens, executives confirmed on social media on April 8. Algorand, which intends to launch its product in June along with its native ERC-20 token, issued a formal warning about the plans, which Bgogo has since confirmed are genuine in a blog post. Known as an “initial exchange offering” (IEO), the Algorand event notionally allows Bgogo traders to purchase exposure to the platform’s token, despite the fact that it does not…

US Startup Raises $3.5 Mln From Pantera, Others to Launch Decentralized Exchange on LN

The United States-based startup Sparkswap has completed a successful seed funding round to create a decentralized exchange based on the Bitcoin (BTC) Lightning Network. A blog post revealed the development on Monday, April 8. According to Sparkswap’s founder Trey Griffith, the company raised $3.5 million from investors including Initialized Capital, Pantera Capital, Foundation Capital and Y Combinator. The startup intends to create a decentralized exchange that will be protected from hacks, while still processing transactions on blockchain. Sparkswap started testing its mainnet on Jan. 2, 2019, which is driven by…