The rundown: Bitcoin and all major currencies were down in the morning; Pundi X to build its global corporate headquarters in Singapore; World’s largest hog producer and pork processor Smithfield Foods plans to explore blockchain technology; SwissOne Capital AG is launching the market’s first tokenized and fully-regulated index fund; COBINHOOD names new CEO; Blockchain Technology Foundation agrees to establish the world’s largest cryptocurrency currency mining center in the global cryptocurrency exchange in Paraguay; Apis Capital Management acquires blockchain intelligence and analytics division from White Company; and more.
Here is what is happening in the cryptocurrency market on Monday.
In the News
Pundi X, a developer of blockchain-based technology solutions, has decided to build its global corporate headquarters in Singapore. Pundi X, founded in Indonesia’s capital city of Jakarta, says that Pundi X’s Singapore HQ will oversee the rollout of its technology, including the world’s first blockchain-based point of sales device called the XPOS, and the first mobile phone to employ blockchain-based telephony named the XPhone, to markets in Asia, Europe, Latin America, the Middle East and Africa.
Global IT solutions organization NIIT Technologies has formed a global partnership with enterprise blockchain software firm R3 to develop innovative solutions for banking and financial services, insurance and travel and transportation verticals on R3’s open-source blockchain platform called Corda.
Global gold industry blockchain alliance Goldlinks is teaming up with Erd Khul LLC, which operates a gold mine in Mongolia. The partnership will cover cooperation on mining, the creation of gold-backed digital assets, mine acquisitions, and more, according to a press statement.
Smithfield Foods, a global food company that is the world’s largest hog producer and pork processor, has decided to join FoodLogiQ’s Food Industry Blockchain Consortium. Together with a host of other food companies including Tyson Foods, AgBiome Innovations, Subway/Independent Purchasing Cooperative, and Testo, Smithfield is interested in exploring blockchain technology to improve its operations.
SwissOne Capital AG, an asset management company specializing in crypto, says that it will soon launch the market’s first tokenized and fully-regulated index fund. According to a press statement, SwissOne Capital’s fund will be the first to offer the liquid utility of tokenization with the safeguards of regulatory recognition. They will be licensed by FINMA for Swiss distribution.
IDG Capital, Matrix Partners and Neo Global Capital have formed a partnership with Singapore-based international cryptocurrency platform KuCoin to bring cryptocurrency trading into the mainstream world via the KuCoin exchange. Together, the companies have invested $20 million in KuCoin through round A funding.
COBINHOOD, the next-generation cryptocurrency service platform and zero-trading-fee exchange, has named Jill Shih as CEO. Shih has more than 18 years of experience in product user experience, project management, and development across mobile internet and software industries, the company said in a news release.
NMBL Technologies is partnering with Seattle blockchain platform provider Dragonchain on an initiative aimed at accelerating innovation in the legal tech market. NMBL will develop cloud-based legal workflow, collaboration, and document management products on Dragonchain’s enterprise-grade blockchain as a service backbone. The companies will also collaborate on the development and deployment of a US-based blockchain, specifically for the legal ecosystem.
Apis Capital Management has acquired blockchain intelligence and analytics division firm White Co. for an undisclosed amount. White Co. uses blockchain technology to connect the world of global payments and financial transactions, allowing consumers and businesses to pay anyone, anywhere, anytime, in seconds with no fees.
Blockchain Technology Foundation has signed an agreement with the Paraguayan government to establish the world’s largest cryptocurrency currency mining center and the global cryptocurrency exchange in Ciudad del Este. The contract is designed to provide the five mining centers near Itaipu Hydroelectric Power Plant and included a 15-year stable price on electricity, the installation of high-speed Internet networks, and the establishment of laws for all related businesses for the project, according to a press statement.
Cryptocurrency Prices Today (As of 7:00 AM EST)
Bitcoin (BTC) is down 5.07% over the past 24 hours, trading at $5,297.74.
Ethereum (ETH) is trading at $156.28 in the morning, down 11.16% over a 24-hour period.
Bitcoin Cash (BCH) is trading at $297, down 12.00% over the past 24 hours.
Ripple (XRP) is trading at $0.4854, down 5.53% over a 24-hour period.
Litecoin (LTC) is trading at $38.11, down 9.46% over a 24-hour period.
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