#CryptoCorner: Bank of America (NYSE: $BAC) Testing Ripple DLT, France’s Finance Minister Pens Op-Ed Criticizing Libra (NASDAQ: $FB), BIGG (CSE: $BIGG.C) Reports on Netcoins Milestones
#CryptoCorner: Bank of America (NYSE: $BAC) Testing Ripple
DLT, France’s Finance Minister Pens Op-Ed Criticizing Libra (NASDAQ: $FB), BIGG
(CSE: $BIGG.C) Reports on Netcoins Milestones
Point Roberts, WA, Delta BC October 17,
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 .
Listen
to today’s Crypto Corner Podcast:
Stocks discussed: (NYSE:BAC) (NasdaqGS:FB) (CSE:BIGG)
Bank of America (NYSE:BAC) is testing out
Ripple’s distributed ledger technology, according to a report from CoinDesk today. A Ripple
spokesperson told CoinDesk:
“Bank of America has been part of Ripple’s Global
Payment Steering Group since 2016 and we did a pilot with them.”
Bank of America’s
membership in this group positions it to advise on rules and standards for
Ripplenet, the network of financial institutions using Ripple products.
Additionally, the recent report of a job
listing
for Treasury Product Manager – which includes the responsibility of leading
“the product management team for the Ripple Project” – may indicate that the
bank is developing a considerable interest in blockchain technology.
French finance
minister Bruno Le Maire wrote on op-ed for the Financial
Times,
in which he cautioned against Facebook’s (NasdaqGS:FB) Libra. Le Maire warned that
currencies from a private firm like Facebook risked undermining state-controlled
fiat currencies. He wrote:
“France’s position is clear: we want financial
innovation to respect the sovereignty of states. Neither political nor monetary
sovereignty can be shared with private interests.”
“#Libra does not only raise issues of security and
financial stability. Libra is actually asking states to share monetary sovereignty
with a private company. This is unacceptable!”
Messaging service
Telegram will delay the launch of its Telegram Open Network (TON) blockchain
project, according to Cointelegraph. This was
instigated by a recent U.S. Securities and Exchanges Commission (SEC)
conclusion that Telegram’s $1.7 billion dollar token offering was illegal. The
firm has a hearing scheduled with regulators in New York on Oct. 24, where it
will challenge the SEC’s decision. In the meantime, Telegram sent a letter to
investors regarding the moving of the launch deadline.
BIGG Digital
Assets, Inc. (CSE:BIGG) has provided an update on its
wholly-owned subsidiary, crypto brokerage platform Netcoins. According to the
press release, Netcoins achieved a lifetime milestone of processing $125
million in transactions since inception via online brokerage, virtual ATM and
OTC services. The platform also processed some $59 million in transactions in
2018 and is tracking to $69 million for the first three quarters of 2019.
Netcoins president Mitchell Demeter commented:
“We are thrilled to now be part of the BIGG Digital
Assets family. Crypto winter seems to have thawed out, and Netcoins has
continued to evolve in order to take full advantage of the next bull run in
crypto. With a compliance first approach, we want to ensure that every
customer’s money is safe and that the platform meets their needs in every way.
Through new banking relationships, and the financial backing of BIGG, Netcoins
is well positioned for growth into 2020 and beyond.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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