#CryptoCorner: #Bitcoin Back in the Green, Lloyd’s (NYSE: $LYG) Announces Insurance Policy for #Crypto Hot Wallets, BoE Speech Warns of Stablecoin Challenge to Credit Creation and Ripple May Introduce Feature to Create Stablecoin on XRP Ledger

#CryptoCorner: #Bitcoin Back in the Green, Lloyd’s (NYSE: $LYG) Announces Insurance Policy for #Crypto Hot Wallets, BoE Speech Warns of Stablecoin Challenge to Credit Creation and Ripple May Introduce Feature to Create Stablecoin on XRP Ledger

Point Roberts, WA, Delta BC March 2, 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: (NYSE:LYG)

When we left off on Friday’s Crypto Corner, Bitcoin (BTC) was trading for around $8,500, having spent the preceding week in seeming freefall from a peak of about $9,770 last Monday. According to CoinDesk, this wound up being a 13 percent drop in the seven days ending yesterday, making it the biggest one-week loss since November last year. This decline was shared with the wider crypto market which lost about $45 billion in total market capitalization in the same period. Happily, this week is opening with a modest rally, however, with Bitcoin and the majority of altcoins listed by market cap in the green, according to data from CoinMarketCap. This recovery seems to be shared with stock market indexes and commodity markets, which, like crypto, experienced a downturn resulting from concerns over the Coronavirus.

Lloyd’s (NYSE:LYG) has announced the launch of an insurance policy aimed at protecting cryptocurrency in hot wallets. Developed by Lloyd’s syndicate Atrium and crypto firm Coincover, the policy is available with limits “from as little as £1,000,” and is backed by members of Lloyd’s Product Innovation Facility (PIF). David Janczewski, CEO, Coincover, commented:

“We are delighted to have worked with Atrium and the Lloyd’s PIF members to bring such a unique and timely solution to the crypto asset market. As the crypto asset market heats up again at the start of 2020, a new wave of crypto-curious customers are standing by at the ready to jump in, having previously been put off by the lack of adequate protection against theft and loss. With this innovative new policy, we can remove these barriers and broaden the appeal of crypto. It represents another step forward in enabling cryptocurrency adoption.”

In a speech given to the London School of Economics on Feb. 28, Bank of England (BoE) Deputy Governor Financial Stability Jon Cuncliffe warned that the adoption of cryptocurrencies, and specifically stablecoins, could present a challenge to the creation of credit. An excerpt reads:

There is certainly the possibility with stablecoins linked to large technology and social media platforms, that it could become mainstream for people to move from holding all or much of the money now in ‘current accounts’ at banks to holding it in ‘stablecoin’ in virtual ‘wallets’ provided by non-banks.

In such a world, and depending how and whether stablecoins were backed with other financial assets, the supply of credit to the real economy through the banking system could become weaker or indeed disappear. That would be a change with profound economic consequences.

Staying on the subject of stablecoins, Cointelegraph reports that Ripple may be introducing a feature that would allow stablecoin creation on the XRP system. Ripple’s Chief Technology Officer (CTO) David Schwartz, explained:

“One of the features that I think is very exciting is a feature that would allow people to launch — well, stablecoins are the obvious use case, but it’s not just stablecoins — it’s essentially assets pegged to some external value.”

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

Follow us on Twitter https://twitter.com/Investorideas
Download our Mobile App for iPhone and Android  

Contact Investorideas.com

Get more Bitcoin and Blockchain Investor ideas  – news, articles, podcasts and stock directories 


  1. Hey Nice Blog!! Thanks For Sharing!!!Wonderful blog & good post.Its really helpful for me, waiting for a more new post. Keep Blogging!
    will help you more:
    "BlockCard is the best crypto debit card. No exchange fees and works with Google and Apple Pay"
    Best Crypto Card

  2. Blockchain technology is a trusted platform to which the global enterprises are adopting with rapid pace. The role of blockchain is not just limited to cryptocurrency, now it has changed the global market by availing the enterprises with blockchain application and software solutions.
    The enterprises should need to be very wise while choosing a partner for blockchain software development to stay away from unwanted management and administrative headaches.

  3. The benefits of blockchain is no more a mystery for technology enthusiasts. It has changed the digital economy and the way of doing business exclusively. With the rising technology standards, the companies keep on tempting to incorporate more and more secure IT infrastructure into their premises.
    Before integrating the blockchain technology solutions, businesses need to be very wise while picking up a service plan and a partner to whom they should collaborate. Once after getting associated with the professional enterprise blockchain development team here at SARA Technologies, you can shed off your management headaches and focus on core business operations. We ensure you a fully managed, functionally smart, and feature-rich business solutions.


Post a Comment