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Monday, September 16, 2019

#CryptoCorner: Calibra CEO Defends Libra (NASDAQ: $FB) in Twitter Thread, Deutsche (NYSE: $DB) Bank Joins JPM’s (NYSE: $JPM) IIN, HTC Adds BCH Support on #Blockchain Phone

#CryptoCorner: Calibra CEO Defends Libra (NASDAQ: $FB) in Twitter Thread, Deutsche (NYSE: $DB) Bank Joins JPM’s (NYSE: $JPM) IIN, HTC Adds BCH Support on #Blockchain Phone

Point Roberts, WA, Delta BC September 16, 2019 -, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

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September 16 Crypto Corner

Stocks discussed: (NasdaqGS:FB) (NYSE:DB) (NYSE:JPM) (TWSE:2498)

David Marcus, CEO of Calibra, – the digital wallet of Facebook’s Libra (NasdaqGS:FB) – argued in a Twitter thread that the social media giant’s proposed cryptocurrency would not threaten central bank and national sovereignty over currency. Marcus claimed that because Libra, as a stablecoin, comprises a basket of existing currencies, it will rely on there being national currencies, as opposed to seeking to replace them.

Libra will be backed 1:1 by a basket of strong currencies. This means that for any unit of Libra to exist, there must be the equivalent value in its reserve. As such there's no new money creation, which will strictly remain the province of sovereign Nations.

He went on to say:

We will continue to engage with Central Banks, Regulators, and lawmakers to ensure we address their concerns through Libra's design and operations. Separately, I'm looking forward to the Libra Association taking on full leadership of the project soon after its charter has been ratified so I can focus on building @calibra.

CoinDesk reports that Deutsche Bank (NYSE:DB), Germany’s largest bank, has joined JPMorgan’s (NYSE:JPM) blockchain payments initiative. This brings the total number of banks signed up for the initiative, called the Interbank Information Network (IIN), to 320. An excerpt from the article reads:

Takis Georgakopoulos, managing director of treasury services at JPMorgan, told the newspaper that, since IIN would have “very big natural limitations” if IIN members were only drawn from the bank’s client pool, the addition of Deutsche Bank “is going to help us drive towards ubiquity.”

IIN brings efficiencies by writing all the data on payments a shared ledger, thus allowing problematic payments to be resolved more quickly and with less manual processes, said Deutsche Bank’s global head of cash management, Ole Matthiessen.

Taiwanese electronics giant HTC (TWSE:2498) has added native Bitcoin Cash (BCH) support to its Exodus 1 blockchain smartphone. In an interview with, HTC’s Decentralized Chief Officer Phil Chen explained:

“Smartphones are everywhere and have proliferated across the planet. It’s very important for the adoption of crypto that it is easy to store and use, no matter which cryptocurrency is preferred by people. So the fact that BCH, one of the biggest cryptocurrencies, is now easy to use on our smartphone is very important for us. Together, HTC and are helping to bring crypto to the masses.”

German crypto startup Neufund has been approved to launch public offerings for its blockchain platform by the Financial Monetary Authority in Liechtenstein, according to a report from Cointelegraph. The offering will allow easy accessibility, with minimum investments being as low as €10 EUR.

Sam Mowers, Investorideas

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