The top news in the last 24 hours are shown below:
State-Backed Iranian Crypto Pushes Industry Forward
A gold-backed cryptocurrency, the Peyman (Persian word for covenant), has been launched in Iran. Four banks and the Gohgnoos company will utilize the Peyman to tokenize bank assets and excess properties. The launch of the Peyman comes amidst speculation that Iran is developing its state-backed cryptocurrency.
ICICI, Kotak, Axis among 11 to launch blockchain-linked funding for SMEs
The idea of having such an organisation is to remove any communication hurdle among the different banks. A blockchain network can only thrive if the entire ecosystem is working in synergy through a single network,” said Abhijeet Singh, head of business technology at ICICI Bank, The Economic Times reported
SWIFT to Integrate R3 Corda PoC
Speaking in a panel at the Paris Fintech Forum, 30 January, SWIFT CEO, Gottfried Leibbrandt, reveals their plan to integrate with R3’s Corda platform. Ripple CEO, Brad Garlinghouse, was also present in the panel
Wrapped Bitcoin Launches On Ethereum With $227K Injection
Wrapped Bitcoin (WBTC) has officially launched on Ethereum (ETH), allowing users to make bitcoin-based transactions on a different blockchain. With more than 20 launch partners and approximately 227K worth of WBTC already on the network, the project may be looking to take the lead over its main competitor, Wanchain (WAN).
Avery Dennison, Everledger to provide a blockchain-based solution for the wine industry
Label solutions provider Avery Dennison has collaborated with blockchain company Everledger to bring authenticated provenance tracking on blockchain to the wine and spirits industry. As part of the deal, the partnership integrates Avery Dennison’s intelligent label solutions with Everledger’s blockchain-based platform.
$1.7 Billion Worth of Cryptocurrency Stolen in 2018, $950 Million from ”Immature” Exchanges and Wallets
During all of 2018, a whopping $1.7 billion worth of cryptocurrency was reportedly stolen. These funds come from a wide variety of sources – e.g. custodial services such as wallets, cryptocurrency exchanges, as well as ICO exit scams.
Abra CEO: Crypto Firms’ Route to Remittances at Scale Will Be Complex but Successful
Abra CEO Bill Barhydt has outlined why he thinks cross-border consumer payments and remittance services continue to be something of an uphill battle for many crypto firms
Florida Appeals Court Defines Bitcoin as Money as Espinoza Ruling Reversed
In 2016, Judge Teresa Mary Pooler of the Eleventh Judicial Circuit of Florida made headlines for a ruling she made during the Michell Espinoza trial. Judge Pooler ruled Espinoza could not be charged with illegal money transmission offences because bitcoin was not considered legal tender. However, a motion filed with the Florida appeals court has overturned the decision and Espinoza may face the state’s trial courts for an alleged crime back in 2014.
European P2P Trade Posts Strongest Activity Since March 2018
In recent peer-to-peer (P2P) market action, Latin American Localbitcoins trade has continued to show strength after producing record volume last month. In other news, P2P trade between the euro (EUR) and BTC has posted its most robust volume in 10 months.
Indian Government Invites Law Firm to Present Suggestions for Crypto Regulation
The Indian government has invited lawyers from Nishith Desai Associates to present their suggestions for the country’s crypto regulation. This is in response to the firm’s submission of a proposed regulatory framework for cryptocurrencies. The recommendations include avoiding prohibition, taking a balanced approach, options for licensing, and self-regulation for the industry.
Genesis Capital Processed $1.1B of Cryptocurrency Loans in 2018
Cryptocurrency lender Genesis Capital provided $500 million worth of digital asset loans in the fourth quarter of 2018 alone, soaring almost 100 per cent from six months earlier when the company started its lending business. Altogether, loans reached $1.11 billion for the whole of last year.
The ”Wrapped Bitcoin” Project Has Now Officially Launched on Ethereum
On Jan. 30, a group of cryptocurrency developers and organizations officially launched a project called Wrapped Bitcoin (WBTC) on the Ethereum network. The ERC20 token is a coin backed by bitcoin core (BTC) reserves and has started trading on several exchange platforms.
Currency.com Allows Crypto Traders to Buy Leveraged Equities, Indices and Metals
The worlds of traditional finance and cryptocurrency have always been divided, for regulatory and technical reasons. Until recently, it was difficult for cryptocurrency traders to gain exposure to stocks and commodities. Currency.com is looking to remedy that through launching the “Bitmex of stocks,” a crypto-friendly platform that promises high leverage and low barriers for entry.