Libra to Satisfy All Regulatory Matters Before Its Launch

David Marcus, CEO of Facebook’s crypto wallet Calibra, underlined that Facebook would not launch the Libra cryptocurrency project before they address all regulatory concerns. Marcus delivered his comments at a hearing on Libra with the Financial Services Committee of the United States House of Representatives today, July 17, as reported by a Cointelegraph correspondent. On the second day of hearings on Libra’s structure and management, Rep. Nydia Velazquez asked Marcus, “Will you commit yourself to not launch before all the concerns from the Federal Reserve and other regulators are addressed?”…

Binance Eyes Launch of Crypto Exchange in South Korea

Binance, the world’s top exchange by trading volume, is considering launching a branch in South Korea, according to reports. Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is “working with local partners, but we do not know the details.” However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin. A Binance representative reportedly told Block…

TRX Down 29.1% Even With The Launch of TronClass

Tron (TRX) slides 29.1 percent week-to-date The launch of TronClass will aid in Tron’s global reach and general awareness For their global outreach, the launch of TronClass is beneficial for the cryptocurrency and blockchain space as a whole. Even so, that is not enough to tame sellers pushing TRX to the edge. At press time, TX is down 29.1 percent from last week’s close. Tron Price Analysis Fundamentals That Tron has been grabbing headlines in recent days is true. From accusations of shilling and rumors of a police raid, the…

Major Korean Firms Partner to Launch Blockchain Mobile ID System

A consortium of major South Korean firms partnered to launch a blockchain-based mobile identification system in 2020, English-language local media Korea Times reports on July 14. Per the report, the participants are financial services firms KEB Hana Bank, Woori Bank, KOSCOM, mobile carriers SK Telecom, KT, LG UPlus, and technology behemoth Samsung Electronics. The aim of the partnership is reportedly to develop a self-sovereign identity system that does not require any intermediaries, which would enable individuals and organizations to control their identity information in online transactions. The service aims to…

Russian Smelting Giant Nornickel to Launch Digital Trading Platform by End of 2019

Russian mining and smelting giant Nornickel is planning to roll out a digital platform for metals trading by the end of 2019, local news outlet TASS reported on July 9. The vice-president of Nornickel, Andrey Bugrov told TASS that “the preparation process was quite lengthy, but nevertheless, we plan to bring this product [digitization of metal trading] to the market by the end of 2019 and begin trading our tokens.” Bugrov also said that the token trading program could be worth nearly $1 billion, but that is rather a target…

Coinbase Looks to Launch a Captive Insurance Company With Aon: Report

United States’ biggest cryptocurrency exchange, Coinbase, is reportedly looking to launch a captive insurance company, industry news outlet Coindesk reports on July 10. Per the report, industry sources told the outlet that Coinbase is looking to launch its captive insurance company in partnership with insurance brokerage firm Aon.  According to accountancy news outlet CPAJournal, “a captive insurance company is a subsidiary formed by a private company to finance its retained losses in a formal structure under the guidance of an appropriate state insurance department.” Such a solution allows the company…

Bittorrent, Tron Launch Crypto-Powered ‘Speed’ Downloading Software

Peer-to-peer torrent client BitTorrent has launched its downloads optimization software, BitTorrent Speed, with native token functionality. The news was revealed in an official press release published on July 8.  As reported, Bittorrent launched a native TRON blockchain-based token, BitTorrent (BTT), at the start of this year, having revealed plans to evolve a tokenized content vo platform that would enable users to optimize their network speed and attain faster downloads. As per the press release, the Bittorrent Speed software will now be integrated into all new downloads of the company’s µTorrent…

Blockchain-Based Used Car Data Marketplace to Launch in Singapore

Singapore-based online car marketplace sgCarMart and decentralized data exchange protocol Ocean Protocol are launching a blockchain-powered “Know-Your-Vehicle” data marketplace. The development was announced in a press release on July 5. The so called Know-Your-Vehicle used car data marketplace will purportedly provide a secure way of sharing and accessing of information about used cars in Singapore, where almost 9,000 cars reportedly changed ownership per month in 2018. The product is set to provide customers with the capability of tracking data origin on a vehicle and then trace its history. Subsequently, the…