#CryptoCorner: Libra (Nasdaq: $FB) Not Listing Yuan in Basket of Currencies, Bakkt Warehouse Compared to ATMs by COO, Gemini Debuts Custody Platform and Nasdaq Launches Decentralized Finance Index

#CryptoCorner: Libra (Nasdaq: $FB) Not Listing Yuan in Basket of Currencies, Bakkt Warehouse Compared to ATMs by COO, Gemini Debuts Custody Platform and Nasdaq Launches Decentralized Finance Index

Point Roberts, WA, Delta BC September 10, 2019 - Investorideas.com, 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 10 Crypto Corner

Stocks discussed: (NasdaqGS:FB) (NYSE:ICE) (NasdaqGIDS:DFEX)

Facebook (NasdaqGS:FB) has told the U.S. Senate that the basket of currencies backing its planned Libra cryptocurrency will include the U.S. dollar, the euro, Japanese yen, British pound, Singapore dollar, but not the Chinese yuan, according to a report from Bloomberg. The social media network giant was prompted to clarify this following concerns expressed by Virginia Democratic Senator Mark Warner that China may pressure the Libra Association including the yuan. Facebook wrote:

“Any decision whether to add a new currency to the Libra Reserve would be made based on all the facts and circumstances at the time, including any direct or indirect regulatory restrictions.”

Bakkt COO Adam White compared the Bakkt Warehouse, which was recently opened for Bitcoin (BTC) deposits and withdrawals ahead of the company’s futures trading launch later this month, with the disruptive influence of the ATM on banking, in a blog post yesterday. White also explained the robust structure the Warehouse shares with the New York Stock Exchange, which is also owned by Intercontinental Exchange (NYSE:ICE).

The Bakkt Warehouse was built using the same institutional grade infrastructure, operational controls, and security protections that support the world’s most actively traded markets, including the New York Stock Exchange, and was designed to meet the highest standards of compliance and oversight.

CoinDesk reports that crypto exchange Gemini has launched Gemini Custody, an institutional-grade crypto custody solution enabling clients to trade assets instantly by offering them credits. Gemini Custody will allow users to check balances, download account statements, initiate withdrawals, and grant auditors view-only access to confirm balances, transactions and activity. The platform supports 18 different cryptoassets and has been approved through the New York Department of Financial Services (NYDFS).

Nasdaq has launched a decentralized finance index Defix (NasdaqGIDS:DFEX) that follows popular projects in blockchain markets. The launch was streamlined by global brokerage firm Exante, which launched a Bitcoin fund in 2012. Zack Hess, the main developer of proof-of-work blockchain project Amoveo, said that he is:

“…glad to see increased awareness being brought to decentralized finance projects"

Sam Mowers, Investorideas

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