Bitcoin and its peers managed to sustain the upward momentum they gained over the past few hours and are firmly in the green Tuesday morning. The cryptomarket capitalization recovered strongly on Monday and is at $293.41 billion around 9.15 am ET.
Here is a wrap of the main news from the cryptocurrency and blockchainworld over the past 24 hours.
Rich Increasingly Interested In Cryptocurrencies, But Cautious, Report Finds
High net worth individuals, or HNWIs, are increasingly interested in cryptocurrencies as an investment and a store of value, but they remain cautious and are seeking wisdom from wealth management firms, results of a report, released Tuesday, showed. The findings are part of the 22nd annual edition of the Wold Wealth Report, compiled by the professional services firm, Capgemini, that defined HNWIs as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables and consumer durables. Read more…
UBS CEO Says Blockchain Almost A Must For Business
UBS Group AG Chief Executive Officer Sergio Ermotti said blockchain technology is almost a must for business. In an interview with CNBC, the head of the Swiss banking giant said he believes the technology is definitely an opportunity in the long term. Ermotti, who has expressed his dislike for bitcoin earlier calling it a speculative bubble, said that blockchain, the technology behind bitcoin and other cryptocurrencies, can help companies become more efficient, and thus reducing costs for certain operations. Read more…
Crypto Fund AG Wins Swiss FINMA License For Fund Distribution
Crypto Fund AG, a firm focused on crypto investments, received a license to distribute funds in Switzerland from FINMA, the country’s financial market watchdog. The Zug, Switzerland-based firm announced on Monday that it won a FINMA license as a distributor of collective investment schemes and gained the opportunity to distribute funds to qualified investors. Read more…
Indian State to implement Blockchain in Food Supply, Distribution
The Government of Kerala, the southernmost state of India, has launched a project to use the Blockchain technology to make food supply and distribution network more efficient. The new project, which will be implemented through the Kerala Development and Innovation Strategic Council or K-DISC, will also use blockchain for its crop insurance scheme. The technology is expected to ensure quick processing and settlement of crop losses claims to farmers. Read more…
South Korea Mulls ‘Crypto Beach’
South Korea is looking to develop a dedicated cryptocurrency and blockchain zone to be called “Crypto Beach” similar to “Crypto Valley” Zug in Switzerland, according to local media outlet Edaily. The East Asian country aims to build a cryptocurrency and blockchain ecosystem for enterprises to incubate startup companies and projects working in the sector. The Crypto Beach is expected to come up at Haeundae beach in Busan city. Read more…
Japanese Municipality Plans ICO
For the first time in Japan, a municipality has announced plans to launch an initial coin offering (ICO) in order to secure funds to develop a sustainable community. Named after the village, its tokens will be known as Nishiawakura Coin (NAC). The coin will reportedly be Ethereum-based. Read more…
Current Prices
As of 9.23 am ET on Tuesday, Bitcoin was up 5.54 percent at $6,778.01 and Ethereum was higher by 9.33 percent at $540.40 on Coinbase.
Read more at: RTT News
