#CryptoCorner: Fidelity to Launch #Crypto Trading in Coming Weeks, CFTC Prepared to Approve Ether Futures, SIX May Issue Digital Token and #Blockchain-Powered Pepsi (NasdaqGS: $PEP) Ad Sees 28% Efficiency Boost
#CryptoCorner:
Fidelity to Launch #Crypto Trading in Coming Weeks, CFTC Prepared to
Approve Ether Futures, SIX May Issue Digital Token and #Blockchain-Powered
Pepsi (NasdaqGS: $PEP) Ad Sees 28% Efficiency Boost
Point Roberts, WA, Delta BC May 6, 2019
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May 6 Crypto Corner
Stocks discussed: (NasdaqGS:PEP)
Bloomberg reports that financial services
multinational Fidelity will launch a crypto trading service for institutional
investors in the coming few weeks, according to “a person familiar with the
matter”. Fidelity Digital Assets, which was launched in October 2018, currently
offers a Bitcoin (BTC) custody service. The Bloomberg article
quotes Fidelity spokeswoman Arlene Roberts from an email:
“We currently have a select set of clients we’re
supporting on our platform. We will continue to roll out our services over the
coming weeks and months based on our clients’ needs, jurisdictions, and other
factors. Currently, our service offering is focused on Bitcoin.”
CoinDesk reports that the U.S. Commodity
Futures Trading Commission (CFTC) is prepared to approve a futures contract for
Ether (ETH), so long as it meets the regulator’s
requirements. The unnamed CFTC source said:
“I
think we can get comfortable with an ether derivative being under our
jurisdiction. We don’t do bold pronouncements, what we do is we look at
applications before us.”
The source went on to
explain:
“A
derivatives exchange comes to us and says ‘we want to launch this particular
product.’ … If they came to us with a particular derivative that met our
requirements, I think that there’s a good chance that it would be [allowed to
be] self-certified by us.”
Switzerland’s top stock
exchange, SIX, may issue its own digital token, according to an interview with
the exchange’s executive Thomas Zeeb on Finews published today. Zeeb said:
This year, we’ll deliver a pilot in late
summer and first services will be live in early 2020. We will start with so
called native digital applications – launching new tokens and an initial
digital offering (IDO) service.
Zeeb went on to
explain why currently SIX Digital Exchange (SDX) has no plans to trade
cryptocurrencies:
The fatal flaw in
trading cryptocurrency is not knowing who’s behind the trades and where the
coins are coming from – by design. We have responsibilities in terms of
ensuring that appropriate anti-money laundering and transaction monitoring
processes, as is the case today in the traditional world, are in place. The way
bitcoin is currently set up and traded, it wouldn’t meet the criteria for SDX.
Media agency
Mindshare ran a blockchain-driven test ad campaign for Pepsi (NasdaqGS:PEP), which saw a 28 percent increase
in cost efficiency, according to a press release today. The test was part of
Project Proton, which explores solutions using smart contracts on the Zilliqua
blockchain. Farida Shakhshir, Director of Consumer Engagement for PepsiCo AMENA
said:
“We are happy to be partnering with Mindshare to test
the application and value add of blockchain in media. It is key that we stay
abreast of new technologies, and continue to advance transparency, viewability,
brand safety and buying efficiency. The results are encouraging, and we plan to
run a few more campaigns under different conditions to verify more hypotheses
and measure overall impact.”
Sam
Mowers, Investorideas
Read other editions of the Crypto Corner
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