#CryptoCorner: #Bitcoin Passes $8000, Japan’s Second-Largest Bank Partners with SBI (NYSE: $SMFG), Checkout.com Joins Libra Association (NasdaqGS: $FB)
#CryptoCorner: #Bitcoin
Passes $8000, Japan’s Second-Largest Bank Partners with SBI (NYSE: $SMFG),
Checkout.com Joins Libra Association (NasdaqGS: $FB)
Point Roberts, WA, Delta BC April 29, 2020
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Stocks discussed: (NYSE:SMFG) (TYO:8473) (NasdaqGS:FB)
The top 100 coins
listed on CoinMarketCap are almost
entirely in the green at press time, with the flagship cryptocurrency Bitcoin (BTC) having risen
above $8,000 for a current trading price of around $8,350. For Bitcoin, this
represents a gain of roughly 7.6 percent in the last 24 hours, and, more
crucially, a total erasure of losses following the Coronavirus-related market
crash in mid-March this year. While this rally could possibly have been fueled
by the much-anticipated halving scheduled for May 11 – just 12 days from today
– data from CoinDesk indicates that
Bitcoin has exhibited a positive performance in the month of April for the last
four years. An excerpt from CoinDesk contrasts Bitcoin’s performance with that
of traditional assets over the past month:
While the cryptocurrency is up over 25% for the month,
gold, the classic safe-haven asset, has gained 6.4%. Meanwhile, the S&P
500, Wall Street's equity index, has risen by 10.8% so far in April. The dollar
index, which tracks the value of the greenback against major currencies, is
reporting marginal gains.
Nikkei
Asian Review
reports that Japan’s second-largest bank, Sumitomo Mitsui Financial Group (NYSE:SMFG), is set to
partner with financial services firm SBI Holdings (TYO:8473). The proposed
deal will see SMFG “acquire a stake in the mobile only brokerage unit of SBI,”
and the latter will accept a 100 billion-yen ($930 million) investment from
SMFG that “will focus on investments in companies that work with digital
technology, including fintech, blockchain and 5G wireless networks.”
Checkout.com, a
payment services provider startup based in the UK, has joined the Libra
Association – the membership organization tasked with overseeing Facebook’s (NasdaqGS:FB) Libra digital currency project.
In a company blog
post,
Checkout.com CEO Guillaume Pousaz wrote:
The Libra project holds the promise of increasing
financial inclusion for billions of unbanked people, empowering them to
participate in the digital economy and reducing disparities.
It is obvious to me and the wider Checkout.com team
that we want to be part of this effort and can contribute to this endeavor by
bringing our unparalleled payments engineering expertise.
Crypto exchange
services provider CoinEx has announced a global strategic
partnership with Bitmain-affiliated financial service platform Matrixport.
Haipo Yang, Founder and CEO of CoinEx, commented:
“CoinEx’s users around the world will benefit from this
strategic partnership as the OTC service makes transfers between fiat and
crypto more convenient. Matrixport has the potential to become a key player in
the industry and I look forward to a long-term partnership between us.”
Sam
Mowers, Investorideas
For investors following the sector Investor Ideas has a
comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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