Vanguard Developing Blockchain Platform for $6 Trillion Forex Market

Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to develop a trading platform for the $6 trillion currency market, the companies said. With the new platform, Vanguard, which manages $5.2 trillion, aims to lower transaction costs for the trillions of dollars worth of currencies it trades annually by boosting peer-to-peer trading for investors, connecting them directly via blockchain technology. Symbiont CEO Mark Smith told CoinDesk the company teamed up with Vanguard to build the currency platform, confirming a Bloomberg report that cited an anonymous source. The platform…

Vanguard Group Tests Blockchain Platform for Trading Currencies

The Vanguard Group is testing a blockchain-powered platform that will allow asset managers to trade currencies while avoiding the big investment banks. On Oct. 3, Bloomberg reported that the United States-registered investment advisor group, Vanguard, is going after a piece of the global currency market that handles $6 trillion each day and is dominated by firms such as JPMorgan Chase and Deutsche Bank AG. A source familiar with the matter said that the newly tested blockchain platform has been operational for over two months while handling several trades already.  By…

ConsenSys and WWF Roll Out Platform for Transparency in Philanthropy

ConsenSys, a blockchain startup founded by Ethereum’s (ETH) co-founder Joseph Lubin, and the World Wildlife Fund (WWF) have jointly launched the Impactio platform to bring transparency into philanthropy. Per an announcement made on Sept. 24, a new partnership between ConsenSys and the WWF resulted in an Ethereum blockchain-based platform dubbed Impactio designed to supervise and fund projects within nongovernmental organizations and standalone companies. The impetus behind the initiative is to trace how companies’ funds are spent within social impact projects. What does Impactio solve? Individuals and companies who utilize Impactio…

Bitrue Exchange to Launch Crypto-Backed Loan Platform

Singapore-based exchange Bitrue is launching a low-interest crypto lending platform, the company said. The service, which goes live on Sept. 30, loans BTC, ETH XRP and USDT at a 0.04% daily interest rate. Users pledge existing Bitrue-held crypto assets as collateral against their $100-minimum loans. Bitrue will fund its novel “power piggy” crypto-holding rewards program with users’ loan interest payments. The loan platform rollout is part of a larger shift for the XRP-focused exchange, CEO Curis Wang said in a statement, alluding to more financial instruments in the pipeline. “Bitrue’s…

SEC Charges Adult Entertainment Token Platform With 2017 ICO Fraud

The U.S. Securities Exchange Commission charged Jonathan Lucas, 27, the CEO of online adult entertainment marketplace, with running a fraudulent initial coin offering (ICO) scheme. According to the SEC’s lawsuit, the company claimed that investors could purchase its token and use them to request certain actions in a live adult performance on the platform. “Fantasy Market is a role-playing performance marketplace for live, client-controlled digital performances,” according to the company’s LinkedIn profile. “Through the use of our tokens, you control what the performers say and do during the show.” All…

Oil and Gas Giant Pilots New Blockchain Platform From Modex

Blockchain startup Modex announced the launch of its blockchain-based database platform for simplified blockchain deployment, which will be piloted by Dietsmann, a major oil and gas firm. Simplifying blockchain adoption  On Sept. 19, Modex announced the release of its latest product, the Modex Blockchain Database platform (Modex BCDB) which simplifies the way companies can deploy blockchain technology projects. According to the announcement, Modex BCDB enables companies to start blockchain projects in just a few hours, instead of days or even months. Mihai Ivascu, CEO and founder of Modex said: “With…

Bakkt’s Much-Anticipated Bitcoin Futures Trading Platform Goes Live

Bakkt’s physically settled Bitcoin (BTC) futures trading is now live for trading on the Intercontinental Exchange (ICE). New option for traders As of 8 PM EST on Sept. 22 (00:00 UTC Sept. 23), Bakkt’s much-anticipated BTC futures trading has launched. The platform is the first of its kind to receive approval from United States regulators and is a product of ICE, the operator of the New York Stock Exchange.   While news of Bakkt’s launch and intention to facilitate BTC futures trading broke over a year ago, the platform itself has…

SEC Charges Token Sale Platform For Illegal $14M Securities Offering

The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers. SEC says ICOBox’s digital tokens are worthless In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to more than 2,000 investors in an unregistered coin offering in 2017. The SEC goes on to say that the defendants claimed that the tokens would increase in value upon trading and that ICO token holders…

Japanese Messaging Giant Line Rolls Out Crypto Trading Platform Bitmax

Japanese messaging giant Line launched its new crypto trading platform Bitmax on Sept. 17, Cointelegraph Japan reports. FSA approval received Following regulatory approval to operate a crypto exchange in early September, Line’s blockchain arm LVC Corporation officially introduced its newly launched crypto platform today. In accordance with previous announcement, Bitmax will initially allow users to trade five major cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC). Small transactions for newcomers With exposure to 81 million users in Japan, Line now accepts deposits and withdrawals through…

Turkish Takasbank Announces Blockchain Platform for Gold Trading

Turkey’s Istanbul Clearing, Settlement and Custody Bank (Takasbank) has announced its blockchain-based platform for trading physical gold. Dubbed BiGA, Takasbank’s new project aims to enable people to transfer physical gold stored at the Borsa Istanbul Stock Exchange (BIST), Turkey’s sole exchange entity, through digitized gold units on a blockchain, the bank announced on Sept. 6. The  units, which are similar in form and function to physically-backed stablecoins, have their value tied to the traded gold. As “BiGA” is the Turkish abbreviation for one gram of gold, one BiGA is equivalent…