Russian State-Run Tech Firm to Decrease Spending on Blockchain by 50%

Russian government-backed corporation Rostec intends to cut spendings on the blockchain development in the country by at least 50%. According to Rostec’s roadmap, the organization is planning to spend 28.4 billion rubles ($453.2 million) on the development of blockchain technologies in Russia by 2024, instead of initial 55 billion ($877.8 million) to 85 billion rubles ($1.3 billion). The news was reported by domestic news outlet Kommersant on Jan. 27. The corporation detailed that the introduction of blockchain tech into the product labeling system will require 650 million rubles ($10.3 million),…

Major Swiss Banking Firm Julius Baer Launches Services for Cryptocurrencies

Major Swiss private banking and wealth management group Julius Baer has launched a digital assets trading and custodial service via a partnership with regulated crypto-specialist Seba. Julius Baer announced its new digital assets offering on Jan. 21, the result of its 2018 minority equity stake acquisition and later partnership with crypto startup Seba Bank AG in February 2019.  Seba, which was founded in April 2018 by former UBS bankers, was granted a securities dealer and banking license by the Swiss Financial Market Supervisory Authority, known as FINMA, in August 2019.…

Research Firm and Environmental Watch Dog Test World’s First Air Quality Ledger

Citing the inadequate weather data collection, an international partnership is testing the world’s first air quality ledger and trying to stem a global crisis. Air quality as public health crisis PlanetWatch announced earlier today the battle-testing of air quality monitors linked to research firm Algorand’s blockchain. “It is currently operating in several Italian cities (fixed installations and mobile ones on trolleys and buses), plus a long-term installation test in the Arctic,” Algorand’s Kati Callaghan told Cointelegraph. According to a PlanetWatch post on Jan. 23, the current state of air monitoring…

Ripple’s Brad Garlinghouse Hints Firm May Seek IPO Within 12 Months

DAVOS, Switzerland – Ripple CEO Brad Garlinghouse said an initial public offering (IPO) is seen as the “natural evolution for the company,” perhaps even this year. “I think over the next 12 months you’re definitely going to see IPOs in the crypto, blockchain space. I’m not sure we want to be first but we certainly don’t want to be last either, so I expect we’ll be on the leading side of that, not the lagging side,” Garlinghouse said. He also said his cross-border payments company has been in communication with the…

Crypto Asset Firm Amun Launches Inverse Bitcoin ETP

Digital asset issuer Amun is launching a new financial product, this one for traders who predict bitcoin’s price will drop. Announced Thursday, Switzerland-based Amun has launched the 21Shares Short Bitcoin ETP (SBTC) on the Swiss Stock Exchange (SIX), an exchange traded product tracking bitcoin’s price movements inversely. If bitcoin’s price climbs, traders lose. If it falls, they win. “If you’ve ever tried trading options or futures, you’ll see that it’s pretty difficult,” Amun CEO Hany Rashwan said in a phone interview. “It’s not the easiest thing which is why it’s…

Law Firm Representing Quadriga’s Former Users Want Information About ‘Shadow Bank’ Crypto Capital

Miller Thomson, the court-appointed legal counsel for former users of the QuadrigaCX cryptocurrency exchange, is asking for help identifying any records related to Crypto Capital, which may be holding some of the exchange’s funds. In a letter emailed to the exchange’s former customers and posted to its website, Miller Thomson wrote that Crypto Capital Corp., a “shadow bank” registered in Panama, “may have been a payment processor” for the exchange and is asking any customers who have emails or other documents which might be related to Crypto Capital to forward…

Regulated Fintech Firm Monerium to Issue E-Money on Algorand Blockchain

A regulated European startup plans to bring fiat currency transactions onto the Algorand blockchain. Iceland-based Monerium, which has a European Economic Area (EEA) e-money license, has entered into a non-exclusive partnership with Algorand. Announced Tuesday, the deal will see the two companies collaborate on developing “real-world use cases that are enabled by advanced blockchain technology” using Monerium’s “programmable” e-money, according to W. Sean Ford, Algorand’s COO. Monerium allows clients to develop blockchain-based financial services, such as cross-border settlements, using any fiat currency of choice, such as the euro, pound sterling…

Blockchain Dispute Resolution Firm to List On London Stock Exchange

A company that uses smart contracts to manage arbitration and dispute resolution around blockchain transactions announced on Jan. 17 its intention to list on the Main Market of the London Stock Exchange. Proof of Trust Ltd did not give any financial details or timetable for the listing, but CEO Dean Armstrong said that the company was excited at the prospect of the listing and “look[s] forward to providing investors with the opportunity to share in this groundbreaking project.” Insurance protocol for smart contracts and blockchain transactions The company describes its…

Blockchain Arbitration Firm Proof of Trust Plans London Stock Exchange Listing

A firm that’s developed tech to resolve disputes arising from blockchain smart contracts has said it plans to list on the London Stock Exchange. As reported Friday by Alliance News (via London South East), The Proof of Trust aims to float on the LSE’s Main Market. “We at The Proof of Trust are excited at the prospect of a full listing on the main market of the company’s shares and we look forward to providing investors with the opportunity to share in this groundbreaking project,” said lawyer and Proof of…

Gemini Launches Firm to Insure Its Own Crypto Custody Branch for $200M

The Winklevoss’ Gemini Exchange has launched an insurance company to cover up to $200 million for Gemini Custody — reportedly the largest amount for any crypto custody service in the world. Head of risk at Gemini Yusuf Hussain shared the news with Cointelegraph on Jan. 16. The captive insurance company is called Nakamoto, Ltd. and will secure Gemini’s custody business for up to $200 million.  Aiding Nakamoto, Ltd.’s launch were major traditional insurance brokers Aon and Marsh. Gemini’s custodial clients will also reportedly be able to purchase additional insurance from…