In Singapore, DBS Group, the country's largest bank, announced the launch of the first cryptocurrency exchange led by this entity. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍 The bank DBS and Singapore Stock Exchange announce a new cryptocurrency exchange platform that will go into operation next week and will be controlled by the bank. It is a new exchange, the first in the world created and managed by a traditional bank, which will provide exchange services for several cryptocurrencies on the market, in addition to trading and custody services.
Singapore is committed to becoming a true global financial and trading hub, so the adoption of cryptocurrencies and digital assets is an important step in building this goal.
📍 Thanks to a new alliance between the blockf y Fidelity, now institutional clients of these companies can apply for loans in dollars with collateral in Bitcoin. According to the release Issued by BlockFi, the company can now offer US dollar loans to institutional clients holding Bitcoin as collateral in custody accounts at Fidelity Digital Assets.
The new services offered by these companies respond to the current boom and demand for cryptocurrencies, where institutions have become the main players in the last year.
📍 Another major institutional player is making its entry into Bitcoin with a $100 million investment in this cryptocurrency. The American insurance firm Mass Mutual acquired around 5.470 BTC, with an investment of 100 million dollars that represents just 0,04% of its total capital, according to the report of Wall Street Journal.
📍 The President of the European Central Bank, Christine Lagarde, announced new economic measures to counteract the negative effects of the COVID-19 pandemic and its resurgence. Thus, the ECB is expanding its health emergency programme, known as PEPP, with the printing of an additional 500.000 billion euros for a total of 1,85 trillion euros in this programme launched in March of this year. In addition, Lagarde announced that this programme will be extended until 2022.
📍 JPMorgan conducted an intraday repurchase transaction using the technology blockchain. The banking giant used its stablecoin JPM Coin to successfully carry out the operation in real time and efficiently take advantage of market liquidity. According to the release of the company, “both the collateral and cash arms of the buyback transaction were settled using blockchain, with the cash arm leveraging JPM Coin".
📍 Another well-known investor and skeptic of Bitcoin (BTC) Billionaire investor Ray Dalio appears to be recognizing the potential of this cryptocurrency, despite it being far from its all-time high for the moment. said, via Reddit, that cryptocurrencies, and Bitcoin in particular, are consolidating as an interesting investment asset as an alternative to gold.
Dalio, who has a net worth of $15.500 billion and has been anti-Bitcoin for many years, appears to be changing his outlook on the cryptocurrency, though he remains positive about gold.
📍 The consulting company PwC threw a poll to their clients in Uruguay to find out who is already using cryptocurrencies and digital assets. The results of this survey revealed that 1 in 4 of the company's clients use cryptocurrencies and digital assets.
It is worth noting that the consulting firm's clients are companies and institutions that provide services in Uruguay, so the survey focused on finding out how much senior executives and managers of different companies know about cryptocurrencies, what use they give them and what is the future perspective on these assets in the country. According to the results, Executives from financial services and banking companies are the most knowledgeable about cryptocurrencies, followed by executives from technology companies and service companies.
📍 Facebook faces a demand by the United States Federal Trade Commission (FTC), which accuses the platform's executives of having carried out anti-competitive practices to boost a dominant global position for their company.
The accusations against Facebook come just days after the social media platform announced the possible arrival of its digital currency Diem in 2021; a fact that continues to cause extreme concern among regulators around the world due to the nefarious practices that the company has maintained to guarantee the security of its users' data.
Continue reading: Welcome to the crypto ecosystem: BBVA confirms its new cryptocurrency services
