Summary:
- Samsung’s subsidiary develops blockchain-based platform for banking
- Singapore Exchange wants to develop a blockchain platform to improve settlements
- Bitcoin (BITCOIN on xStation5) increases to around $6900
Investors launched Tuesday’s trading in a rather upbeat mood as the major cryptocurrencies moved higher over the night sending capitalization of the whole market to around $225 billion. Bitcoin has also experienced significant gains, and now the most famous cryptocurrency is trading above the $6900 handle (note that it was moving mostly around $6700 yesterday). The capitalization of the Bitcoin market sits a notch above $120 billion. Today’s news concern topics such as the new Singapore Exchange’s blockchain-related project and the Samsung subsidiary’s platform for banking.
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Over the night BITCOIN moved from around $6700 to around $6900. Note that BITCOIN was not seen at the similar price level since early-August. Has BITCOIN broke out from the consolidation range for good? Next days could bring the answer to this question. Source: xStation5
Let’s start with news from South Korea. Samsung SDS, being a subsidiary of Asian technology giant, announced on Monday that it is developed a blockchain-based platform for banking called BankSign. The platform was being created in cooperation with the Korea Federation of Banks. BankSign will allow customers making transactions at different banks using only one bank’s certification (the platform will require only one app’s verification). The new platform may replace the 20-year old public banking security system.
ETHEREUM, just as Bitcoin, saw approximately 4% advance over the past 24 hours. On Tuesday morning, the ETHEREUM price action is rather subdued. The virtual currency is trading slightly above the $280 handle at press time. Source: xStation5
Another interesting news, coming from Asia, concern the Singaporean exchange. The exchange develops a blockchain-powered platform for quick settlement of securities. On Friday, the Singapore Exchange (SGX) announced it will cooperate with the Monetary Authority of Singapore (a Singapore’s central bank) to develop the mentioned platform which will allow to settle tokenized assets across different blockchain projects. Nasdaq, Deloitte and Anquan were chosen as technological partners.
LITECOIN reached mid-August’s high localized around $60 mark. This area seemed to be a relevant technical hurdle in the past for LITECOIN. Will LITECOIN bulls have enough power to finally break above this obstacle? Source: xStation5
