Bank of Korea Launches a Department Devoted to Blockchain and AI

The Bank of Korea has reportedly chosen to establish a “Digital Innovation department” through organizational reform in the second half of this year, according to the local news on July 22.  Leveraging innovative technologies for efficiency  The Bank plans to introduce a number of different technologies, such as artificial intelligence and blockchain, through the digital innovation department. The department will perform tasks such as implementing new digital technology policies and expanding the latest digital infrastructure. An official from Bank of Korea commented that:   “We will improve work efficiency by applying…

Philippines Launches Blockchain App to Distribute Government Bonds

On July 19, the Philippine Bureau of the Treasury along with the UnionBank and Philippine Digital Asset Exchange launched a blockchain-enabled mobile application for distributing government-issued treasury bonds. According to local news outlet Inquirer.Net, the president and CEO of UnionBank, Edwin R. Bautista, claimed it was Asia’s “first retail treasury bond issuance to leverage on blockchain technology.” Bringing bonds investment to the unbanked According to estimates, almost 77% of adults in the Philippines still do not possess a bank account. The mobile application dubbed Bonds.PH is particularly aimed at providing…

OKCoin Launches Its Own DeFi Price Oracle Based on Compound Tech

OKCoin fired up its own price oracle for the DeFi space with data traceable back to its origin, offering verified accuracy.  “OKCoin has launched OKCoin Oracle, a signed price feed that can be used for reliable on-chain pricing in support of the burgeoning DeFi ecosystem,” OKCoin director of communications, Will McCormick, told Cointelegraph.  He added: “OKCoin Oracle acts as a trusted source of market data, and anyone can publish OKCoin pricing on-chain. Once on-chain, OKCoin is verifiable as the source of the data, using the OKCoin Oracle public key.” DeFi…

Public Mint Launches, Announces 200 Banks Are On Board

Public Mint launched its ‘fiat-native’ public blockchain on July 1 following two years of development. The platform comprises a blockchain for the tokenization of fiat currencies that are held in the accounts of insured and regulated fiat custodians — essentially comprising a stablecoin backed by a network of banks. Public Mint claims to have already partnered with a network of more than 200 banks to hold the funds backing its fiat token network. Their site does not provide further details on banking partners, although Hyperledger and IBM Digital Asset Labs…

Incognito Blockchain Launches DeFi Privacy for Kyber

Privacy blockchain Incognito has released Kyber Privacy (pKyber), a privacy feature for decentralized finance within the Kyber Network for users from both parties to trade anonymously. First announced on April 24, Incognito’s open-source technology enables anonymity for smart contract-based protocols, making it possible for any Ethereum-based decentralized app to integrate pKyber. Making DeFi private The company claims that the DeFi environment is increasingly facing privacy concerns from seasoned crypto users and traditional investors looking to explore “a new economy.” Within the integration, Incognito will offer users the option to hide…

Blockchain Prediction Platform Augur Launches V2 on July 28

Blockchain-powered event betting company Augur says that users of its REP cryptocurrency need to migrate their tokens once a new version of the platform is available starting July 28. According to an announcement posted to the platform’s website on June 29, Augur v2 will launch on the Ethereum (ETH) mainnet at the end of next month. This means that REP token holders need to manually migrate their coins to the new version, REPv2. Augur stated that current tokens will be renamed “REPv1” to lessen any confusion. ‘Use it or lose…

Bitfinex Launches Open-Source Crypto-Powered Streaming Protocol

Veteran cryptocurrency exchange Bitfinex has announced an open-source peer-to-peer data streaming platform that will allow users to share media across a decentralized network. The code for Bitfinex’s “Dazaar” protocol has been uploaded to GitHub, describing a decentralized network in which distributed node operators store the information shared among users. In an announcement, Bitfinex states that the platform’s creation was motivated by the increasing reliance on centralized platforms such as search engines, social media, and messaging apps to facilitate the sharing of data and media. Bitfinex open-sources P2P streaming protocol Bitfinex…

Anchorage Launches Support for DeFi Token KEEP

Cryptocurrency custodian Anchorage is continuing to expand its focus on decentralized finance (DeFi), announcing support for custody of Keep Network’s token. The KEEP token powers tBTC, a trustless and open-source protocol allowing the creation of Ethereum tokens that represent Bitcoin (BTC) which are used for accessing based DeFi protocols.  The protocol also facilitates the autonomous containerization of users’ private data when engaging with public chains, bolstering the privacy enjoyed by DeFi users. Anchorage expands support for DeFi assets Speaking to Cointelegraph, Anchorage co-founder and president, Diogo Monica, emphasized the need…

Big Four Auditing Firm KPMG Launches a Crypto Management Suite

Big four auditing firm KPMG launched a cryptocurrency management suite with analytic features. According to a June 22 announcement, the new KPMG Chain Fusion suite is meant to allow financial technology companies to more easily offer crypto asset services on an institutional scale. The news follows a KPMG report which suggested that institutional custody services are of the utmost importance. Ensuring compliance for crypto businesses Crypto assets function very differently compared to traditional assets when it comes to technology infrastructure, operational mechanics, and inherent risks. Those differences translate to challenges…

Crypto Exchange ByBit Launches a Fiat Gateway Supporting Over 20 Currencies

Cryptocurrency exchange ByBit now lets its users exchange over 20 fiat currencies for cryptocurrency. According to an announcement shared with Cointelegraph on June 22, ByBit users can trade their U.S. dollars, Australian dollars, Canadian dollars, euros, Singapore dollars, British pounds sterling and many others for crypto of their choice. ByBit CEO Ben Zhou said that it was two partnerships that came together to make it possible: “Thanks to our payment partners Banxa and XanPool, Bybit users can now frictionlessly purchase crypto with credit or debit card.” At the same time,…