The rundown: Bitcoin and all major currencies were down in the morning; Formosa Financial, forms a partnership with Wanchain; Blockchain logistics firm Endchain to build a secure and affordable blockchain tracking solution; ArcBlock partners with Soar to create the world’s first decentralized Super-map using blockchain technology; and more.
Here is what is happening in the cryptocurrency market on Monday.
In the News
Formosa Financial, which offers a treasury management platform for crypto-assets, has formed a partnership with Wanchain, the distributed financial infrastructure powered by cross-blockchain smart contracts with privacy protection. Formosa Financial says that the partnership will enable the company to connect communities and assets across the industry through cross-chain transactions.
Blockchain logistics firm Endchain announced that it will develop a secure and affordable blockchain tracking solution for Ming Kee Factory, a 40-year-old manufacturer, headquartered in the port and industrial hub of Ningbo, North-Eastern China. In a statement, the blockchain logistics firm says that it is working with Ming Kee to bring blockchain tracking to consumer electronics.
ArcBlock, an application development platform for decentralized applications and blockchain-enabled services, has partnered with Soar to create the world’s first decentralized Super-map using blockchain technology. The partnership will deliver “a new decentralized platform for high-resolution drone, aerial, and satellite imagery that incentivizes content creators and provides access to images, video, and aerial maps for end users to purchase,” according to a press statement issued by ArcBlock.
SOMPO Holdings Co. is joining hands with BTC Africa AC, better known as BitPesa, a digital payment platform that uses blockchain for payments to and from Africa. The partnership will work for the digitization of international remittance service, according to a press statement. SOMPO reportedly made a $5 million investment to acquire a 10% stake in BitPesa.
Switzerland-based X8 AG says that Islamic scholars have approved its digital currency, Reuters reports. The company plans to offer its Ethereum-based cryptocurrency, which is backed by a basket of eight fiat currencies and gold, in the Middle East, the news agency reports citing a senior executive.
Cryptocurrency Prices Today (As of 7:44 AM EST)
Bitcoin (BTC) is up 0.29% over the past 24 hours, trading at $6,409.00.
Ethereum (ETH) is trading at $212.26 in the morning, up 0.33% over a 24-hour period.
Bitcoin Cash (BCH) is trading at $530, down 1.54% over the past 24 hours.
Ripple (XRP) is trading at $0.5068, up 0.60% over a 24-hour period.
Litecoin (LTC) is trading at $51.00, down 0.93% over a 24-hour period.
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