#CryptoCorner Episode 402: #Bitcoin Slowly Rising Following Halving, CME (NasdaqGS: $CME) Daily BTC Options Hit New Highs, Visa (NYSE: $V) Files Patent Application for “Digital Fiat Currency”

#CryptoCorner Episode 402: #Bitcoin Slowly Rising Following Halving, CME (NasdaqGS: $CME) Daily BTC Options Hit New Highs, Visa (NYSE: $V) Files Patent Application for “Digital Fiat Currency”

Point Roberts, WA, Delta BC May 15, 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 .

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Stocks discussed: (NasdaqGS:CME) (NYSE:V) (NasdaqGS:FB)

In the days following its halving on Monday, Bitcoin (BTC) has mostly been showing upward movement and has been trading above $9,000, according to data from Coinmarketcap. It hasn’t quite been flirting with $10,000, which it briefly reached last week, but has gotten as high as around $9,750, and is trading for about $9,560 at press time.

Elsewhere, on the day of the halving, daily Bitcoin options trading volume on the CME (NasdaqGS:CME) reached $17 million, topping the $9.9 million high set on May 6, according to a report from CoinDesk. This was topped immediately, however, the following day with a new record of $30 million, which then itself was surpassed with $40 million on Wednesday. Things cooled slightly on the exchange Thursday with $36 million recorded volume, but that represented a 2,000 percent rise from the volume of $1.7 million registered the week prior.

Visa (NYSE:V) has filed a patent application with the US Patent & Trademark Office for a “digital fiat currency”. Though published yesterday, the patent application was filed on November 8, 2019. The application’s abstract reads:

Techniques are disclosed which include receiving, by a central entity computer, a request for digital currency. The request includes a serial number and a denomination of a physical currency. The central entity computer generates the digital currency for the denomination and linked to the serial number. The generating includes recording the digital currency on a blockchain. The central entity computer transmits a notification of the generation of the digital currency. The central entity computer causes removal of the physical currency from circulation in a fiat currency system.

Bloomberg reports that Singapore’s state-owned investment vehicle Temasek Holdings has joined the Libra Association. The Libra Association is a membership organization of Facebook’s (NasdaqGS:FB) Libra digital currency project. Temasek International Deputy CEO Chia Song Hwee said:

“Our participation in the Libra Association as a member will allow us to contribute toward a regulated global network for cost effective retail payments. Many developments in the space excite us. We look forward to further exploring the potential of the technology.”

Sam Mowers, Investorideas

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