German Finance Minister Doubts Crypto Can Currently Replace Traditional Currencies

Germany’s Finance Minister Olaf Scholz doubts that cryptocurrencies can currently replace traditional fiat currencies, Cointelegraph auf Deutsch reports today, September, 18. “I would doubt today, whether it has a perspective as a currency model, ” said Scholz at a “citizens dialogue” at the German-Dutch Army Corps in Münster. Scholz compared cryptocurrencies to the tulip fever bubble in the Netherlands in the 17th century saying, “and the danger is great that there will be such a tulip inflation.” Scholz said that the necessary computer processes for the mass implementation of cryptocurrencies…

Hong Kong Blockchain Fund to Finance Yen-Pegged Cryptocurrency

The founders of a $1.45 billion investment firm and a dedicated blockchain fund are teaming up to launch a new cryptocurrency whose value would be pegged to the yen. South China Morning Post reports that Grandshores Technology Group, a Hong Kong-based blockchain investment firm, is raising HK$100 million (US$12.7 million) to bootstrap the project, which aims to provide traders and other cryptocurrency users with a yen “stablecoin,” whose value would be immune to price volatility in the wider cryptocurrency markets. Grandshores Technology’s founding partner, Yongjie Yao, is also a founder…

Treat Bitcoin Like Switzerland Does, Zimbabwe Finance Minister Tells Central Bank

Zimbabwe’s new finance minister said the country should embrace Bitcoin at state level in a manner similar to Switzerland, local media outlet IT Web Africa reports Monday, September 17. Citing the Swiss central bank’s “investment and understanding” in Bitcoin, Mthuli Ncube said he would call on the Reserve Bank of Zimbabwe (RBZ) to follow in its footsteps. “Zimbabwe should be investing in understanding innovations and often central banks are too slow in investing in these technologies,” the publication quotes him as saying. “But there are other countries which are moving…

Central Bank’s Blockchain Trade Finance Platform Pilots in Shenzhen

A new trade and finance blockchain platform, backed by the People’s Bank of China (PBoC), has started official pilot operations in Shenzhen, local news outlet 21jingi reports September 12. The “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform” aims to provide a blockchain-powered ecosystem for cross-border trading across Guangdong, Hong Kong, and Macau Bay Area. The platform is reportedly being jointly promoted and organized by the PBoC’s Central Bank Digital Currency Research Lab and the Central Bank Shenzhen Central Branch. 21jinji cites Xu Honghui, vice president of…

Blockchain Could Boost Trade Finance by $1 Trillion, WEF Research Says

Blockchain is able to fill in much of the $1.5 trillion-dollar supply-demand gap in global trade finance by easing financing for small- and medium-sized enterprises (SMEs) in emerging markets, new research says. Jointly conducted and released by the World Economic Forum and Bain & Company, the research indicates that, by deploying blockchain, global businesses can generate an extra $1 trillion in trade finance that would otherwise be missed out on. According to an Asian Development Bank calculation, the global trade finance gap is currently at $1.5 trillion and is estimated to…

Chinese Central Bank Launches Testing Phase of Trade Finance Blockchain Platform

The People’s Bank of China (PBoC) has officially launched the testing phase of a blockchain trade finance platform, local news outlet Shanghai Securities News reported September 4. The Shenzhen Central Sub-branch of the People’s Bank of China, the central bank of the People’s Republic of China, has entered the trial phase of the so-called “Bay Area Trade Finance Blockchain Platform” earlier than scheduled. The platform is aimed at conducting trade and financing activities, such as accounts receivable and trade financing. At the same time, the platform provides a regulatory system…

Both Eminem and Yahoo Finance Embrace Bitcoin in Wins for Crypto Adoption

Top Stories This Week Yahoo Finance Integrates Bitcoin, Ethereum, and Litecoin on iOS App Yahoo Finance has integrated BTC, ETH, and LTC on its iOS app this week, with a version briefly appearing and disappearing on its desktop version despite Yahoo noting that the desktop, mobile web, and Android version won’t be available for several weeks. A Yahoo Finance press release notes that users that wish to trade crypto on Yahoo Finance will have to link a broker account via integrated third party service TradeIt. “Operation Cryptosweep” Produces More Than…

Yahoo Finance Now Offers Trading of 4 Cryptos on Its iOS App

Yahoo Finance, one of the world’s largest news sites for real-time stock quotes and market information, has added a feature allowing cryptocurrency trading on its platform. According to a blog post on Thursday, the company now supports trading of four types of assets – bitcoin, ethereum, litecoin, and dogecoin – on its iOS mobile app. The announcement came amid various tweets online yesterday indicating the service appeared to be also available on the desktop version of Yahoo Finance – although, the feature is not visible on desktop browsers at the moment. Yahoo…

Yahoo Finance Integrates Bitcoin, Ethereum and Litecoin Trading

Yahoo Finance has integrated trading with Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) on its platform. While statistics are available on the platform for other digital currencies like Bitcoin Cash (BCH), Ethereum Classic (ETC) or EOS, they currently do not have buy and sell options. The development has led some in the crypto community to say that it is an important step forward for crypto adoption. Crypto enthusiast and founder of Morgan Creek Digital, Anthony Pompliano tweeted: You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance. THE VIRUS…

Is Coinbase a finance or a tech company? – The Coinbase Blog

Team, At our last all hands meeting, an employee raised a great question: are we a tech company or a finance company? This question deserves a thoughtful answer, so I decided to lay it out here. Many of you have noticed that we share aspects of both. On the tech side, we have an engineering and product-led culture, tech company perks (free meals, kombucha on tap, etc), and we hire from many of the best tech companies. At the same time, we share aspects of financial services. We have robust…