Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, is implementing stronger know-your-customer (KYC) and anti-money laundering (AML) regulations to ensure data security and compliance across their global operations.
Following the launch of Bitcoin Lite in Australia, Binance announced today a new partnership with Medici Ventures portfolio firm, IdentityMind. This collaboration is part of a joint mission to help raise the blockchain industry’s standards by improving existing data protection and compliance measures.
Medici Ventures, the blockchain investment arm of Overstock, has acquired a 5.1 percent equity stake in blockchain banking startup Bankorus.
Announcing the news on Monday, Overstock said Bankorus’ blockchain platform allows individuals and institutions to “securely” buy, sell, store and lend digital assets.
“The addition of Bankorus to Medici Ventures’ portfolio of companies will further our work in building the foundation of a blockchain-based technology stack for society,” said Jonathan Johnson, president of Medici Ventures.
A bottle of red, a bottle of white, remember that Merkle trees keep your chain size light. That’s right: wine is now on the blockchain.
Vinsent, a new app that allows purchasers to pick up a bottle of fancy (mostly Israeli) vino, is turning to the blockchain to register wine futures purchases while ensuring that the bottles are authentic.
Vinsent came from VinX, a Medici-funded company that sought out to create a digital wine futures platform similar to the Bordeaux model.
Medici Land Governance, a subsidiary of Overstock’s venture arm Medici Ventures, has signed a memorandum of understanding with a local government in Mexico to create a digital land records system.
According to Monday’s announcement, the memorandum of understanding was struck with the municipal government of Tulum, which is located in the state of Quintana Roo. If built, the deal will allow officials there to collect data about land ownership and issue certificates of title to land in an effort to record such transactions automatically.
The Eastern Caribbean Central Bank (ECCB) is about to conduct a pilot for a blockchain-based central bank digital currency (CBDC) in preparation for its planned full rollout as a legal tender, possibly in 2020.
For the initiative, the ECCB late last month inked a deal with Barbados-based fintech firm Bitt to help conduct the pilot, with other technical support from Pinaka Consulting.
This CBDC pilot will involve a “securely minted and issued” digital version of the Eastern Caribbean dollar (XCD) and will be distributed for use by financial institutions across the Eastern Caribbean Currency Union (ECCU), according to an announcement from Bitt.
Ripio, a startup that’s been working to boost crypto adoption in Argentina, is opening a new exchange platform for three Latin American markets.
The exchange will operate in Argentina, Brazil and Mexico, though due to regulatory hurdles, only fixed-price purchases will be available for Mexican users, Ripio CEO Sebastian Serrano told CoinDesk at Consensus 2019. The company already offers a crypto wallet and peer-to-peer lending, and is launching over-the-counter (OTC) trading for institutional investors alongside the exchange.
Blockchain distributed ledger technology (DLT) has been touted as the answer for just about every transactional issue facing the world today – from payment processing and supply chain tracking to digital identities and copyright protection.
Databases, however, have been serving those same use cases for decades. They record how much money is in a bank account, when cargo reaches a destination and they store the identities of business users – enabling access to business applications and sensitive data.
In 2018, we made a concerted effort to expand into cryptocurrencies. Among other initiatives, we launched new crypto trading tools, we added support for bitcoin futures on CME and CBOE, and we recently invested in the new CoinFLEX exchange. We recognize crypto’s potential, and we’re passionate about making sure our users have the best possible tools to trade in that space.
Even though cryptocurrencies aren’t new to us, we’re always looking to gain more insights into how blockchain technology is affecting both capital markets and other industries as well.
Security token trading platform tZERO, a portfolio company of digital retail giant Overstock, has won a patent outlining how it may merge legacy trading systems with cryptocurrencies and digital asset tech.
Published Thursday by the U.S. Patent and Trademark Office, the patent describes a “Crypto Integration Platform” capable of combining market information from a variety of sources to determine best prices. The system would then “secure both the digital transactional items (i.e., the funds for a buy order and the digital assets or liabilities for a sell order)” before conducting the transaction.