The rundown: Bitcoin and all major currencies were up in the morning; blockchain platform Phore Blockchain to list its digital asset phore on the Ternion Exchange; New York-based blockchain firm Blocktech is launching a blockchain lab in Saudi Arabia; Reliance Industries announcedit is has conducted its first trade finance transaction using blockchain; Taiwan changes rules to better regulate cryptocurrency transactions; and more.
Here is what is happening in the cryptocurrency market on Monday.
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In the News
Blockchain platform Phore Blockchain announced that its digital asset phore (PHR) will be listed for trading on the Ternion Exchange on Nov. 15. The PHR listing will go live on the exchange with a PHR/Bitcoin pairing followed by a PHR/USD fiat pairing in January 2019. Ternion is the second exchange in the world to be licensed by the European-based Financial Intelligence Unit.
New York-based blockchain company Blocktech is launching a blockchain lab at Taibah University in Madinah, Saudi Arabia. Directed by artificial intelligence expert Professor Walaa Alharthi, the lab will be the kingdom’s first research and development lab dedicated to blockchain technologies. The lab will operate in conjunction with the Taibah University Faculties of Computer Science, Law and Business with the goal of catalyzing blockchain adoption in the Middle East.
Malta-based digital asset exchange OKEx has been recognized as Crypto Exchange of the Year at the first edition of the Malta Blockchain Awards. The award was presented in the ceremony held during Malta Blockchain Summit 2018 to recognize the companies, experts, and leaders who made outstanding contribution to the blockchain technology development in Malta. The Crypto Exchange of the Year award is judged by 32 industry leaders and executives with combined experience in the blockchain Industry. OKEx stood out from fellow finalists Binance and BitBay.
Oil and gas giant Reliance Industries, owned by India’s richest man Mukesh Ambani, has conducted its first trade finance transaction using blockchain technology, CoinDesk reported citing a press statement from HSBC India. The company has executed the “live” blockchain-powered trade finance transaction in collaboration with US-based chemical distributor Tricon Energy. Hitendra Dave, HSBC India’s head for global banking and markets, said in the statement that “the use of blockchain is a significant step towards digitizing trade.”
Taiwan is introducing new rules as part of its efforts to regulate cryptocurrency transactions. At the end of the last week, the Taiwanese legislative body Legislative Yuan passed amendments to existing rules to allow the Financial Supervisory Commission the power to “crack down on anonymous virtual currency transactions,” according to a report by Focus Taiwan. The agency will now have the authority to ask operators of virtual currency platforms to “implement ‘real-name systems’ that require users to register their real names, according to the new provisions,” according to the news report.
Cryptocurrency Prices Today (As of 7:15 AM EST)
Bitcoin (BTC) is up 0.85% over the past 24 hours, trading at $6,430.04.
Ethereum (ETH) is trading at $208.85 in the morning, up 3.89% over a 24-hour period.
EOS is trading at $5.48, up 0.74% over the past 24 hours.
Ripple (XRP) is trading at $0.4650, up 2.40% over a 24-hour period.
Litecoin (LTC) is trading at $53.43, up 0.89% over a 24-hour period.
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