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Monday, December 30, 2019

#CryptoCorner: Coinbase May Have to Remove DApp Browser from Apple (NASDAQ: $AAPL) App Store, China’s First #Blockchain ETF Application, Huobi Launches Fiat-to- #Crypto Gateway in Indonesia


#CryptoCorner: Coinbase May Have to Remove DApp Browser from Apple (NASDAQ: $AAPL) App Store, China’s First #Blockchain ETF Application, Huobi Launches Fiat-to- #Crypto Gateway in Indonesia




Point Roberts, WA, Delta BC December 30, 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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Stocks discussed: (NasdaqGS:AAPL) (NasdaqGS:FB)

A recent Reddit post revealed that U.S. crypto exchange giant Coinbase may have to remove its “DApp browser functionality” of its crypto wallet app from the Apple (NasdaqGS:AAPL) mobile app store. The CEO of Coinbase, Brian Armstrong, responded in the comment section:

“Coinbase CEO here. This is really unfortunate to see. Apple seems to be eliminating usage of Dapps from the App Store.

If Apple customers want to be able to use Dapps, we may need to make this request know to Apple in some way. This is an important area of innovation in finance, and many developers and early adopters of this technology have millions of dollars worth of crypto tied up in these financial applications, which they will no longer be able to use on Apple mobile devices if this app store policy continues.”

Reuters reports that Ueli Maurer, Switzerland’s finance minister and outgoing president, said in an interview with Swiss broadcaster SRF that Facebook’s (NasdaqGS:FB) Libra will not succeed as it currently stands.

“I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it.”

According to the article:

The cryptocurrency is to be backed by a reserve of assets such as bank deposits and government debt held by a network of custodians. That structure is meant to foster trust and avoid the price swings that plague other cryptocurrencies.

A report from Shanghai Securities News indicates that the China Securities Regulatory Commission (CSRC) has recently received an application for a blockchain exchange-traded-fund (ETF) from asset manager Penghua Fund. If approved, the ETF will be the first of its kind in China. Its aim is to track Shenzhen Stock Exchange-listed companies operating in the blockchain space. An unnamed “fund manager of a Beijing fund company” said:

"The launch of the relevant index gives investors new choices, and they can use the relevant theme funds to obtain dividends in the development of the blockchain industry in the future."

Crypto exchange Huobi recently announced the launch of “a local fiat gateway to enable a direct fiat-to-crypto trading facility between the Indonesian Rupiah (IDR) and Tether (USDT)”, allowing investors in the country to “use the local fiat currency to trade over 250 cryptocurrencies available on Huobi Indonesia's digital asset exchange”. David Chen, Senior Director of Huobi Cloud, explained:

"The new fiat gateway is part of Huobi's global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets across the globe. By continuing to add new fiat/crypto pairs for Huobi Cloud 2.0, we want to make it frictionless for investors anywhere in the world to trade digital assets on a trusted and proven platform."

Sam Mowers, Investorideas 

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