The Newest Crypto News You Need to Know
Cryptocurrency is a rapidly evolving and ever-changing world. It can be hard to keep up with all the news and developments in the space, but staying informed is essential for anyone interested in trading or investing in cryptocurrency. That's why it's important to stay up to date on the latest crypto news. In this blog post, we'll explore the newest crypto news that you need to know. From stories about new regulations to reports on the state of the market, we'll cover it all so you can stay in the know.
Bitcoin futures are now available on Bakkt
In a major move towards the institutionalization of cryptocurrencies, Bakkt has launched its Bitcoin futures contracts. This new platform allows traders to hedge their risks by buying or selling futures contracts that are settled in Bitcoin, instead of cash. This is the first time that a regulated US exchange has offered a physically settled Bitcoin product, meaning that the buyer will actually receive Bitcoin upon expiration of the contract, rather than cash.
Bakkt is an Intercontinental Exchange (ICE) subsidiary, which provides liquidity and infrastructure for digital assets. It’s also backed by major companies such as Starbucks and Microsoft, which could give it more legitimacy in the eyes of institutional investors.
The launch of Bakkt’s Bitcoin futures could be a key development for the crypto industry, as it could pave the way for larger institutional investors to enter the market. The fact that the contracts are physically settled could also increase confidence in cryptocurrency investments, as the buyer will be sure to receive their Bitcoin at the end of the contract.
The first day of trading was highly anticipated by many in the crypto community, but there were only 72 trades in total on September 23rd, indicating that institutional players may still be wary of entering the market. It remains to be seen whether this product will gain traction with institutional investors over time, but it is an exciting step forward for the crypto industry.
Fidelity is now offering cryptocurrency custody services
Fidelity Investments, one of the world’s leading financial services companies, recently announced that they are now offering a cryptocurrency custody service. This move is seen as a major step forward in legitimizing cryptocurrencies as a legitimate asset class and is likely to help boost the adoption of digital assets.
Fidelity’s service is designed to provide institutional investors with secure storage of their digital assets. The company has partnered with Curv, a leading blockchain security provider, to ensure that their service is both secure and compliant.
The service is also designed to make it easier for institutional investors to store and manage their digital assets. It provides support for multiple cryptocurrencies and allows investors to view balances, transfer funds, and track transactions from a single platform.
Fidelity’s move into the cryptocurrency space is seen as a significant milestone for the industry. It is the latest in a series of moves by large financial institutions to embrace digital assets, signaling increased acceptance and legitimacy of cryptocurrencies.
It is hoped that this move will encourage further institutional investment in the crypto space, helping to drive further innovation and development.
JPMorgan is considering launching its own cryptocurrency
In a surprising move, JPMorgan Chase, one of the world’s largest banks, is reportedly considering launching its own cryptocurrency. According to reports, the bank has been exploring the idea for several months and is now close to making a final decision. If approved, JPMorgan would become the first major US bank to launch its own digital currency.
The potential cryptocurrency, which is believed to be a stablecoin backed by the US dollar, would be used by customers for international payments. This move could potentially revolutionize the banking industry and bring new opportunities to customers.
The potential cryptocurrency would run on JPMorgan’s existing blockchain technology called Quorum. This technology is designed to allow users to make and track payments in real-time and could reduce the cost and time associated with processing cross-border payments.
JPMorgan isn’t the only major bank looking into launching its own cryptocurrency. Goldman Sachs has also recently revealed its plans to offer cryptocurrency trading services to its customers, while other banks such as UBS and Credit Suisse are rumored to be considering similar moves.
If JPMorgan does decide to go ahead with launching its own cryptocurrency, it would certainly be a game changer for the banking industry. It would mark a big step towards mass adoption of cryptocurrencies, paving the way for other major banks to follow suit. Only time will tell if JPMorgan will make this bold move, but it is certainly one worth watching closely.
Binance is launching a fiat-to-crypto exchange in Singapore
Binance, one of the world’s largest cryptocurrency exchanges, has announced plans to launch a fiat-to-crypto exchange in Singapore. This is the latest development in the company’s rapid growth and expansion into different markets.
The exchange, which will be based in Singapore, will offer customers a secure and reliable platform to buy and sell digital assets such as Bitcoin, Ethereum, Litecoin, Ripple, and more with Singapore dollars. According to Changpeng Zhao, the CEO of Binance, this move is part of their global expansion strategy and aims to create more liquidity for traders in the region.
In addition to the fiat-to-crypto exchange, Binance is also launching a crypto-to-crypto trading platform in Singapore. This new platform will allow customers to trade popular digital assets with each other without having to convert their assets into fiat money first.
The exchange is expected to launch in the coming months and will be subject to regulatory approval from the Monetary Authority of Singapore. In the meantime, Binance is working with local banks and payment gateways to ensure that the platform meets all requirements before its official launch.
Overall, the launch of Binance’s fiat-to-crypto exchange in Singapore marks a major milestone in the industry and could open up a lot of opportunities for both traders and investors alike. With their existing infrastructure and global presence, it is likely that Binance will quickly become one of the most popular exchanges in Singapore.
Litecoin is now available on Robinhood
Good news for Litecoin fans: Robinhood recently announced that it is now offering Litecoin (LTC) trading on its platform. This makes it the sixth crypto asset available to trade on the popular stock and crypto investing app.
For those who don’t know, Robinhood is a mobile-first investing platform that allows users to buy and sell stocks, ETFs, and other investments all in one place. Until now, only Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), and Ethereum Classic (ETC) have been available on the platform.
The addition of Litecoin provides Robinhood customers with access to the fourth largest cryptocurrency by market cap. With the Litecoin price surging to new highs this year, the timing couldn't be better.
Like other assets on Robinhood, users can buy and sell LTC with no commissions or fees. They can also view real-time prices, research information, and place limit orders for Litecoin.
With the addition of Litecoin, Robinhood customers now have access to an even wider variety of crypto assets on the platform. This could open up new opportunities for investors who are looking to diversify their portfolios.