- Spain’s BBVA conducts $150 million blockchain-based syndicated loan
- Abu Dhabi Securities Exchange issues a paper on crypto assets
- Ethereum (ETHEREUM on xStation5) goes up around 3.5%
The cryptocurrency market started the day in mixed moods as more important cryptocurrencies have not outlined any joint direction so far. Bitcoin (BITCOIN on xStation5) and Ethereum (ETHEREUM on xStation5) began Wednesday’s trading with slight increases, but most of major virtual currencies saw some declines. The capitalization of the whole cryptocurrency market stands a notch below the $220 billion handle while Bitcoin accounts for a 51.6% of the mentioned value.
BITCOIN broke out of its consolidation area (a purple area on the chart), and is trading in the vicinity of the $6550 handle at press time. If it is not a one-off jump, the next crucial technical level may be situated around $6600, a monthly high. Source: xStation5
Let’s start with news from Spain where BBVA, the Spanish banking giant, and its two co-lenders, Mitsubishi UFJ Financial Group and BNP Paribas, have completed the blockchain-based syndicated loan worth $150 million for Red Eléctrica Corporación being the Spain’s electricity grid operator. Use of blockchain technology in a loan process is considered as one of the possible applications of this modern technology, because it may significantly reduce a time needed to give a loan.
ETHEREUM has reached a one of the best results among major digital currencies over the past 24 hours as it surged around 3.5%. ETHEREUM, like its bigger peer Bitcoin, broke out of the consolidation range, and is moving around the $220 mark at press time. Source: xStation5
The second piece of news comes from the United Arab Emirates where Abu Dhabi Securities Exchange (ADX) released, in cooperation with the Central Securities Depositories, a thought paper on infrastructure for cryptocurrencies and distributed ledger environment, and financial markets infrastructures. In the mentioned paper, Abu Dhabi Securities Exchange tries to “identify the technical and operational criteria required to issue crypto-assets, as well as provide a reliable reference to support financial institutions in managing the transition of the issuance of traditional and crypto-assets”, as WAX reported, the UAE’s state-run news agency. Moreover, the Exchange “continues its efforts to manage the transition from conventional assets to more encrypted assets, which are witnessing major and rapid development in the region”, as Exchange’s CEO Al Blooshi said.
After substantial increases RIPPLE saw recently, the cryptocurrency price seems to settle down around the $0.53 handle. However, RIPPLE has lost around 2% since the midnight. Source: xStation5
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