#CryptoCorner: Bakkt (NYSE: $ICE) Off to a Slow Start?, Revolut Partners with Visa (NYSE: $V) for Expansion, HIVE (TSXV: $HIVE.V) Reports Q4
#CryptoCorner: Bakkt (NYSE: $ICE) Off to a Slow Start?,
Revolut Partners with Visa (NYSE: $V) for Expansion, HIVE (TSXV: $HIVE.V) Reports
Q4
BIG
Blockchain Intelligence (CSE: $BIGG.C) Scores QLUE Contract with US Federal
Gov’t
Point Roberts, WA, Delta BC October 1, 2019
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October
1 Crypto Corner
Stocks discussed: (NYSE:ICE) (NasdaqGS:CME) (NYSE:V)
(TSXV:HIVE) (CSE:BIGG)
Bakkt, the digital
asset platform founded by Intercontinental Exchange (NYSE:ICE), only generated $5 million USD in
trading volume for its bitcoin futures exchange service last week, according to
a report from CoinDesk. Monthly and daily futures trading
debuted on September 23, and 623 monthly bitcoin futures contracts – each
representing one bitcoin (BTC) – changed hands last week. The report contrasts
this with the 4,099 bitcoin futures contracts traded on Friday alone at rival
Chicago-based exchange operator CME Group (NasdaqGS:CME), whose contracts represent five
bitcoins each and making for a trading volume of $165 million that one day.
Digital banking and
fintech firm Revolut has partnered with Visa (NYSE:V) to drive the former’s expansion into
five new regions, reaching 24 new markets, for a total of 56 markets globally.
Among Revolut’s services is a currency exchange that supports cryptocurrency
trading. Nikolay Storonsky, founder and chief executive officer, Revolut,
commented:
“We are excited to build upon our existing
collaboration with Visa, the world’s leader in digital payments, which will
bring to life our shared vision for seamless, innovative payment experiences.
The new global agreement with Visa is timely for Revolut as we move into a
number of new markets to offer even more consumers the control, flexibility and
innovative features that our European customers have been benefiting from for
years.”
Coinbase, along
with several other industry leaders, has founded the Crypto Rating Council,
according to a blog post yesterday. The stated aim of the
Council is to “assist market participants that trade or support crypto assets
to comply with U.S. federal securities laws”.
HIVE Blockchain
Technologies Ltd. (TSXV:HIVE) yesterday announced its fourth quarter and full year end
results. Among the highlights are the firm’s 143 percent increase in revenue
generated from mining digital currencies, totalling $31.8 million. HIVE also
increased its mining capacity over the prior year by 318% through the addition
of data centre equipment and also diversified its production range with the
addition of cloud-based Bitcoin mining. Frank Holmes , Interim Executive
Chairman of HIVE, commented:
"Over the past year, HIVE has undergone
significant changes which have improved transparency and accountability from
strategic partners which will allow us to better manage our business. We
weathered a challenging period for cryptocurrency and blockchain companies as
the value of Bitcoin and Ethereum (ETH) underwent tremendous erosion of value
causing a massive fall in the cost of computing equipment. However, we
opportunistically added Bitcoin capacity at attractive financial terms."
BIG Blockchain
Intelligence Group Inc. (CSE:BIGG) has signed a 1 year contract with a U.S. Federal
Government agency for $389,000 CAD to deliver QLUE (Qualitative Law Enforcement
Unified Edge) licenses. According to the press release, “QLUE incorporates
advanced techniques and unique search algorithms to detect suspicious activity
within cryptocurrency transactions …, enabling investigators to quickly and
visually trace, track and monitor transactions in their fight against terrorist
financing, human trafficking, drug trafficking, weapons trafficking, child
pornography, corruption, bribery, money laundering, and other cybercrimes”.
Sam Mowers,
Investorideas
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