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South Korea’s Shinhan Bank Developing a Blockchain Stock Lending System

South Korea’s oldest bank, Shinhan Bank, is developing a distributed ledger technology-enabled stock lending platform.

South Korea’s oldest bank, Shinhan Bank, is developing a Distributed Ledger Technology (DLT)-enabled stock lending platform, local media Econonews reports on Aug. 1.

Blockchain-based stock lending

Per the report, Shinhan Financial Investment signed an agreement with financial services company Directional to develop a blockchain-based stock lending service on May 28. Personal stock lending is part of a broader development of innovative financial services that are currently being pursued by the company.

Not the first Shinhan Blockchain-based Service

At the end of May, Shinhan Bank, has also launched a blockchain-enabled lending platform to boost cost and time efficiencies in the lending process, reportedly enabling the public to apply for loans online and get their credits without face-to-face interaction. Cadence’s founder and CEO, Nelson Chu explained that the securitization market for private credit has been in “desperate need of innovation.” 

As Cointelegraph reported last month, Cadence, an American blockchain-based alternative investment provider, launched an investment platform for debt to bring more transparency and efficiency to the private debt asset class in order to help companies grow their businesses.

In May reports started circulating that Kuala Lumpur-based Bursa Malaysia, the country’s stock exchange, was working on a blockchain-enabled security borrowing and lending proof-of-concept.

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Beyond Meat Stock Performance Reminds Novogratz of Bitcoin in 2017

CEO of crypto merchant bank Galaxy Digital Michael Novogratz said that Beyond Meat stock price reminds him of cryptocurrencies in 2017.

CEO of crypto merchant bank Galaxy Digital Michael Novogratz said that vegetarian meat startup Beyond Meat reminds him of cryptocurrencies in 2017, in an interview with CNBC published on August 1.

Innovation brings speculation, creating bubbles

During the interview, Novogratz declared that Beyond Meat reminds him of the state of the crypto market in 2017, suggesting that the price is in bubble territory given its parabolic rise this summer. 

He further provided an analysis of the phenomena and some grim predictions concerning the stock:

“I think big ideas grab the attention of people, you see. You get great bubbles on big ideas, this is a great bubble, I mean, it’s a ludicrous price, but everyone got sucked in. All the young guys on their Robinhood accounts are buying this, and this is their crypto […] And then reality does set in.”

Novogratz also cited the recent reports that the company’s CEO, Ethan Brown, decided to sell more stocks, which increased the float. He said that, as the float increases, “the lockup comes off and everyone else tries to sell and the price will” react to it.

Beyond Meat soars 250% in a few months

Crunchbase estimates Beyond Meat’s annual revenue to be about $67.3 million, and reports say that the company received $122 million in funding so far. CNBC also reported earlier today that the company’s shares lost 18.6% of their value since last Wednesday, and according to their data currently trades at $178.8 at press time.

CNBC data also show that Beyond Meat stock price peaked at the end of last month at over $239 dollars after trading at $65 in February. This is a 267.69% price in just a span of a few months.

Beyond Meat stock price chart 

Beyond Meat stock price chart | Source: CNBC

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Report: Bill Miller Hedge Fund Surges 46% Thanks to Bitcoin, Amazon

The hedge fund of legendary investor Bill Miller reportedly saw 46% growth in the first half of 2019, partly from Bitcoin investment.

The hedge fund of famous investor Bill Miller saw 46% growth in the first half of 2019, reportedly in some part from investing in Bitcoin (BTC).

Citing an investor document, Bloomberg reports on July 26 that Miller achieved such outstanding results by investing in Bitcoin among other high-performing stocks. Alongside Bitcoin, other investments in the Miller’s fund reportedly include Amazon, security system firm ADT, as well as Avon Products.

The 69 year-old investor reportedly found success by following a similar investment strategy as he used during his three-decade run at Legg Mason, which envisions investing in securities that trade at a large discount to their intrinsic value.

According to Bloomberg, Miller’s fund has $126 million in assets, while Miller totally oversees $2.3 billion at his Baltimore-based firm. Additionally, the fund’s monthly performance has seen some volatility, having surged about 39% in June after dropping 29% the month before.

Miller likes Bitcoin because it does not correlate to traditional markets

Earlier this year, Miller claimed that Bitcoin can potentially have a high value or be worth nothing, considering the biggest cryptocurrency a curious technological experiment. At the time, Miller said that he is not a Bitcoin believer, but rather an observer, adding that he included crypto in his portfolio because there is no obvious correlation between crypto markets and the stock market.

Yesterday, Galaxy Digital CEO Mike Novogratz predicted that institutional interest would push the Bitcoin price back to its all-time highs of $20,000 before the end of 2019.

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R3 to Support a Startup-Focused Stock Exchange in Brazil

Enterprise blockchain tech firm R3 partnered with Brazilian digital bank Banco Maré to launch a stock exchange listing shares of startups.

Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms.

Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16.

The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes.

Rio de Janeiro-based Banco Maré has reportedly conducted its first informal consultations with the Brazilian Securities and Exchange Commission, and is reportedly planning to make an official request to the agency in August 2019.

Banco Maré CEO Alexander Albuquerque claimed that the new venture aims to democratize risky investment and bring the low-income public to the stock market.

Earlier in June, Cointelegraph reported that the Brazilian government was considering a bill requiring all units of local public administrations to promote new technologies such as blockchain. Recently, the Brazilian diplomatic academy, the Rio Branco Institute, was reported to start requiring candidates to have knowledge of cryptocurrencies and blockchain.

On July 12, the Brazilian state of Bahia launched a blockchain-based app to track the process of public bidding on government contracts.

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Swiss Stock Exchange Asks Central Bank to Issue Stablecoin

Principal Swiss stock exchange SIX has asked the country’s central bank for to issue a stablecoin for settlements.

Principal Swiss stock exchange SIX asked the country’s central bank to issue a stablecoin, local media SwissInfo reports on June 26

Per the report, the crypto asset would be used to settle payments on its new digital securities trading platform. The exchange reportedly announced during the Crypto Valley Association conference this week that users of its upcoming SDX platform will be able to swap fiat currency for a new stablecoin.

The exchange explained that “SDX member banks will be able to settle their trades and other obligations against tokenised CHF within SDX once we are up and running.” The firm further explained that the tokens can be coined on-demand:

“SDX would accept CHF payments from member banks in central bank money and issue equivalent tokenised CHF in SDX. The value of tokenised CHF would be pegged 1:1 with CHF at all times. We most definitely favour a central bank issued stablecoin.”

The outlet further claims that Switzerland’s central bank confirmed that it is in talks with SIX “about different options on how to settle the cash side” of trades, but no final decision has been made as of yet.

As Cointelegraph reported in February, SIX Swiss Exchange will test blockchain integration for its forthcoming parallel digital trading platform SDX in the second half of this year. The SDX platform is meant to allow for trading digitized versions of stocks. Users will reportedly be able to use the token to buy securities or redeem it for cash.

Also the United States’ largest bank, JPMorgan Chase, is expecting to pilot its own cryptocurrency JPM Coin by the end of 2019.

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JPMorgan Will Pilot ‘JPM Coin’ Stablecoin by End of 2019: Report

JPMorgan’s exec revealed that the bank has seen interest from global clients potentially using JPM Coin in bond transactions.

The United States’ largest bank, JPMorgan Chase (JPM), is expecting to pilot its own cryptocurrency JPM Coin by the end of 2019, according to a Bloomberg report on June 25.

Umar Farooq, head of digital treasury services and blockchain at JPMorgan, has revealed the company’s intention to launch pilot testing of JPM Coin with selected clients “around the end of the year” in case if relevant regulators approve the bank to do so.

According to Farooq, JPMorgan has seen an increased interest from global customers in the potential benefits of the bank’s stablecoin project JPM Coin revealed in mid-February 2019. Specifically, JPMorgan clients in the U.S., Europe, and Japan have expressed interest to learn about JPM Coin’s capabilities in speeding up securities and bond transactions.

In this regard, Farooq stated that the bank’s stablecoin has a potential to enable “instant” delivery of bonds via blockchain. The JPM’s executive has also revealed the bank’s positive stance on tokenized and digital securities, predicting that a number of stocks will become digital in five to 20 years. Speaking in an interview in Tokyo, Farooq said:

“We believe that a lot of securities over time, in five to 20 years, will increasingly become digital or get tokenized.”

In the recent interview, Farooq has reiterated his optimistic stance towards blockchain tech, after claiming previously that blockchain applications are “frankly quite endless.”

Recently, JPM’s managing director of global market strategy revealed that the bank believes that the bitcoin (BTC) industry has changed since 2017 due to impact from institutional investors.

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Feel Lost When Finding Crypto Strategies? One Trading Platform Wants to Change That

What if you could copy what other crypto traders are doing? A trading platform notes that, when it comes to investing, many heads are better than one.

An internationally focused trading platform says it is offering a social element to finance that has never been seen before — bringing together a strong community who can talk strategy and collaborate to achieve strong results.

As well as enabling users to trade some of the world’s top stocks — Netflix, Microsoft, Amazon and Apple among them — eToro also provides access to a wide range of cryptocurrencies. Consumers can buy and sell the likes of bitcoin, ether, bitcoin cash, XRP and litecoin with ease, and receive instant updates when prices begin to fluctuate.

Just like social networks that boast news feeds where friends and family post status updates, eToro enables users to write posts and share their opinions about the latest movements in crypto prices. Followers can subsequently like this content and share it if they wish — or comment underneath and give their take on recent developments. According to eToro, this enables its base to have an informed discussion about strategies and the steps required to build a strong portfolio. If a user keeps track of the latest news and macroeconomic developments alongside these insights, it can allow them to keep their finger on the pulse of what’s happening in the crypto world more effectively — interpreting ups and downs with more perspective.

Each eToro member has the ability to present the ratio of their successes and failures to the world — and receive a customized score that reflects the level of risk in their strategies.

Copy that

One particularly novel feature of eToro is the CopyTrader feature, which enables users to emulate the strategies of those who have established a reputation for themselves on the platform. According to the company, there are more than 3 million profiles to choose from — giving consumers the chance to find a portfolio that fully reflects their ethics and appetite for risk.

eToro is available here

From here, the platform says trades are copied automatically and in a transparent way — giving users the freedom to chop and change whenever they please. Full statistics about past performance and the number of people who are following a particular trader’s strategy are given upfront in order to help a user make an informed decision.

Democratization

Given the fact that anyone can trade — or indeed, become a top trader — there have been several success stories associated with the eToro platform.

One man from the United Kingdom went from flipping burgers to managing a fund worth $11.4 million. He gained experience by beginning to trade in simulation mode, and then made the transition to using his own money once he was confident in his strategies. His advice? To fully embrace technical analysis and know what you are investing in.

A key challenge of trading — be it crypto, stocks or shares — can be the levels of emotion that can be attached to a particular trade: both when something is going right and when it isn’t. The element of copy trading can help return some subjectivity to the process, as strategies can be decided by those who know how to ride the ups and downs of the market.

Learn more about eToro

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Facebook’s Crypto Project Will Be A Milestone According to RBC

Global investment bank RBC Capital Markets expects Facebook to release white paper for its crypto project on June 18.

Global investment bank RBC Capital Markets believes that Facebook’s upcoming crypto project will be a major milestone in the firm’s history, CNBC reports June 14.

In a note to investors, RBC Capital analysts Mark Mahaney and Zachary Schwartzman reportedly said that Facebook’s long-rumored stablecoin project “may prove to be one of the most important initiatives in the history of the company.”

A part of the Royal Bank of Canada (RBC), RBC Capital predicted that the social media giant’s cryptocurrency project will “unlock new engagement and revenue streams.”

According to the report, RBC Capital expects the project’s white paper to be released on June 18, joining other sources that expressed similar expectations earlier this month. In the note to investors, the investment bank promised to provide an analysis of the paper as soon as it is released in order to “help investors analyze the underlying cryptoeconomics of the token.”

To date, RBC Capital has predicted that Facebook will use its crypto initiative to facilitate three spheres of its business: applications and gaming, payments, and commerce. Earlier this month, CNBC reported that Facebook will allow its employees to receive part of their salary in its internal cryptocurrency.

Meanwhile, RBC Capital also has an outperform rating on Facebook, with a price target of $250 per share. At press time, Facebook’s share rose around 1.8% to trade at $180.4, up more than 35% over the past year, according to CNBC.

First reported by Bloomberg in late 2018, Facebook’s upcoming stablecoin has been a major issue discussed in crypto community and has seen increased coverage by crypto media outlets so far.

Earlier today, the Financial Times reported that Facebook hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project. Yesterday, the Wall Street Journal published an article revealing that Facebook’s crypto project was supported by over a dozen companies including Visa, Mastercard, PayPal and Uber.

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Dutch Crypto Exchange Blockport to Attempt Relaunch After Bankruptcy Caused by Failed STO

Amsterdam-based exchange Blockport previously declared bankruptcy after its STO did not reach an expected $1.1 million soft cap.

Amsterdam-based crypto exchange Blockport will attempt a relaunch after the firm said it would shut down its platform by the end of May, tech news outlet The Next Web reports on June 4.

On May 22, Blockport was declared bankrupt by a Dutch court, following the firm’s unsuccessful security token offering (STO) of Blockport Securities (BPT) tokens.

Blockport first announced its STO in March, describing its BPS token as a security token that is pegged to a stake in Blockport and enables holders to profit sharing through dividends. Launched on April 16, the STO reportedly offered investors the ability to buy BPS with a minimum 500 euro ($560) investment, and lasted up to May 15.

In mid-May, Blockport revealed the STO results, claiming that the offering had not reached the expected soft cap of 1 million euro ($1.1 million). The exchange stated that it will refund its investors, adding that the platform was expected to be taken down by the end of May.

The Blockport website remains live at press time, with the main page still saying that the firm offers the “easiest way to buy and sell cryptocurrency.”

According to The Next Web, the platform is still online due to the unfinished refund process, while the company is planning to “properly take it offline” as soon as all refunds are finalized.

While the date of the shutdown is still reportedly not scheduled, Blockport founder Sebastiaan Lichter revealed that the company will continue to develop its products in “stealth mode.” Lichter added that Blockport is in talks with “several parties for a potential relaunch.”

In mid-May, blockchain infrastructure firm Blockstream launched its security token platform allowing businesses to issue security tokens on the Liquid Network.

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BUX and ABN AMRO Clearing Partner on Blockchain-Powered Stocks Investment Mobile App

Securities services provider ABN AMRO Clearing will provide European mobile investment platform BUX with blockchain solutions.

Global securities services provider ABN AMRO Clearing has signed a contract to provide European mobile investment platform BUX with blockchain technology for a forthcoming commission-free stock trading mobile app. The news was revealed in a BUX news release on May 29.

According to the news release, ABN AMRO Clearing processed 3.79 billion trades in 2018, and reportedly consistently ranks as a top three clearer for listed derivatives and cash securities, OTC products, warrants, commodities and FX across the majority of time zones.  

BUX’s new app, dubbed STOCKS, is slated for launch in summer 2019 first in the Netherlands and Germany, followed by a planned Europe-wide rollout in the coming year.  

After a reportedly successful pilot, BUX is set to leverage two key solutions from ABN AMRO Clearing for STOCKS.

First, STOCKS clients’ funds will be held by ABN AMRO Clearing in an individual blockchain bank account using the clearer’s proprietary Banking-as-a-Service platform. This, the news release notes, means that ABN AMRO Clearing will be operating as a bank within the forthcoming set-up.

Second, ABN AMRO Clearing will provide STOCKS with its Smart Order Routing solution for users’ buy and sell orders on the platform.

In an interview with tech news site Hard Fork published today, a BUX spokesperson  underscored that the new solution will be similar to a bank account, but that instead of being  administered via escrow accounts, “every bank account is essentially a unique string of code that is administered in this blockchain.”

As reported, Dutch bank ABN AMRO has this month launched a blockchain inventory tracking platform that leverages Internet of Things technology.

Also this month, the bank abandoned its plans to launch a custodial bitcoin (BTC) wallet, citing concerns over the unregulated status of cryptocurrencies and attendant risks for investors.