#CryptoCorner: #Bitcoin Plummets, SIX Signs Partnership Agreement with Omniex, MoneyGram (NasdaqGS: $MGI) Gained $11M from Ripple in Last 2 Quarters
#CryptoCorner: #Bitcoin
Plummets, SIX Signs Partnership Agreement with Omniex, MoneyGram (NasdaqGS: $MGI)
Gained $11M from Ripple in Last 2 Quarters, Bank of Canada Discusses CBDCs and
Significance of Libra (NasdaqGS: $FB)
Point Roberts, WA, Delta BC February 26,
2020 - 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: (NasdaqGS:MGI) (NasdaqGS:FB)
Bitcoin (BTC) appears to be in
a freefall and is dragging the rest of the crypto market along with it,
according to data from CoinMarketCap. When we last left
it on Monday’s Crypto Corner, Bitcoin had come off of the weekend having failed
to secure a $10K support level, and was trading for about $9,770. At press
time, it has fallen to $9,058, thereby erasing February’s gains and returning
to a level not seen since January 28. Correspondingly, the wider crypto market
has lost nearly $30 billion from its total market cap. Explanations for this
sharp decline tend to revolve around Bitcoin having been overbought as a
reaction to the Coronavirus, and this would comport with its considerable bull
run, and that this could be seen as an overdue market correction.
Swiss financial
services firm SIX Group, which operates the SIX Swiss Exchange, signed a partnership
agreement
with fintech company Omniex, providing the former, and its subsidiary Swiss
Digital Exchange (SDX), with “a gateway to digital exchanges (including crypto
currency exchanges) and OTC market makers worldwide.” Thomas Zeeb, Head
Securities & Exchanges, member of Executive Board, SIX, said:
“We see a growing need in the market to access crypto
currencies. Our new collaboration will provide a standardized and secure
gateway via SIX as the trusted partner of the financial industry. With SDX as
the digital exchange infrastructure in development, the collaboration with
Omniex to deliver the front end for clients, both for existing crypto
currencies, as well as in future for SDX-listed assets, is an important
addition to the digital ecosystem.”
Remittance giant
MoneyGram International, Inc. (NasdaqGS:MGI) has gained $11.3 million from
Ripple in the past two quarters, according to an SEC filing. An excerpt from a
CoinDesk report on the
subject reads:
"The Company is compensated by Ripple for
developing and bringing liquidity to foreign exchange markets, facilitated by
Ripple's blockchain, and providing a reliable level of foreign exchange trading
activity. The Company expects that this partnership, at scale, will reduce our
working capital needs and generate additional earnings and cash flows."
In a speech titled Money and Payments in the Digital Age, Bank of Canada Deputy Governor Timothy Lane addressed
the topic of central bank digital currencies (CBDCs) and Canadian central
bank’s position on them.
“We have concluded that there is not a compelling case
to issue a CBDC at this time. Canadians will continue to be well-served by the
existing payment ecosystem, provided it is modernized and remains fit for
purpose.”
Lane does, however,
seem to indicate that the success of Facebook’s (NasdaqGS:FB) Libra project may impact the
bank’s own position on digital currencies.
“Libra would run on an existing messaging platform with
strong brand recognition. This would give it the potential to reach billions of
people—including many with little or no access to banks or financial services.
It’s tough to predict if Libra will ever live up to its
promises or even come into existence. But it is a good example of a
transformative technology that affects how the Bank needs to respond to the
future of money.”
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
About Investorideas.com - News that Inspires Big
Investing Ideas Investorideas.com
is a recognized news source publishing third party news, research and original
financial content. Learn about investing in stocks and sector trends with our
news alerts, articles, podcasts and videos,
looking at cannabis, crypto, AI and IoT, mining, sports biotech, water,
renewable energy and more. Investor Idea’s original branded content includes
the following podcasts and columns : Crypto Corner , Play
by Play
sports and stock news column, Investor Ideas Potcasts Cannabis News and
Stocks on the Move podcast and column, Cleantech
and Climate Change
, Exploring
Mining the AI
Eye .
The
Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com,
iHeartRadio and Google Play Music.
Visit
the Podcast page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third
party sourced news, articles and equity research as well as creates original
content, including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more
about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global investors must adhere to regulations
of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Cryptocurrency Disclaimer
Investorideas.com news
content is not meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership:
Crypto Corner is an Investorideas.com content brand
Contact
Investorideas.com
800-665-0411
Comments
Post a Comment