TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. Mark Zuckerberg proposed a blockchain-based log-in tool. Bloomberg thinks JP Morgan’s JPM Coin is responsible for the latest rally. Almost half of millennials trust more in crypto than stocks. Brazilian bank to launch real estate STO. Apple to partner Goldman in Apple wallet-tied card, and QuadrigaCX funds are under auditor custody.
Bloomberg: JPM Coin Caused the Recent Market Rally
Bitcoin is getting a delayed boost from the announcement that JPMorgan has developed a digital coin to speed up payments between corporate customers 📈 https://t.co/L9eQ5YBxZ2 pic.twitter.com/mAvqXj8ZQe
— Bloomberg Crypto (@crypto) February 19, 2019
Bloomberg, a leading financial news network, expressed recently they think the recent price rally in crypto is a direct consequence of JP Morgan announcing the creation of their first cryptocurrency. According to Bloomberg, this would be a “delayed boost” coming from the idea the market could have been slow to answer this unexpected announcement. The JP Morgan stablecoin would show that blockchain tech is ready for enterprise and bank adoption, they believe.
Mark Zuckerberg Considers Blockchain as a Log-in Tool
Mark Zuckerberg, the known CEO of Facebook, commented about a possible use case for blockchain technology during an interview with Harvard professor Jonathan Zittrain. Recognizing Facebook as a decentralizing force in the world, he thought about a system where user data would be stored on a blockchain and people could log-in to several services in a decentralized way. “You take your information, you store it on some decentralized system and you have the choice to log into places”, he described.
Almost 50% Of Millennials Trust Crypto More Than Stocks
A survey commissioned by eToro, an Israel based trading platform, discovered 43% of millennials trust more in cryptocurrency exchanges than in the stock market to make their investments. 71% would also invest in crypto if these instruments were offered by traditional institutions like banks or stock markets, showing traditional institutions are wasting a potential market by not offering crypto alternatives.
Brazilian Bank to Raise Money Through STO
Banco BTG Pactual, a Brazilian bank, is expecting to raise more than $15 million dollars by offering their own security token (STO) backed up by real estate of Brazilian assets. The token, ReitBZ, will let their investors access the Brazilian real estate market, and to tie their benefits to the movement of underlying asset prices. The token will be able to be purchased with the Gemini dollar, in partnership with Gemini, an exchange run by the Winklevoss twins.
Apple, Goldman Partner to Offer iPhone Tied Card
Apple will start an unlikely partnership with Goldman Sachs to offer a credit card product tied to its flagship iPhone. The two companies expect this to bring them benefits in the long run, amid slowing sales of iPhones and a decelerated financial market. Employees of the two companies will be testing the card that will be tied with Apple Wallet to offer rewards and set goals for spending. The product will be released later this year.
QuadrigaCX Assets are Under Auditor Custody
After an embarrassing mistaken transaction that put 104 bitcoin more in the cold wallets whose private keys were lost, QuadrigaCX has transferred all cryptocurrency assets to Ernst & Young, one of the biggest 4 audit firms in Canada. 51 bitcoin, 951 ethereum, 33 bitcoin cash, 2,000 bitcoin gold, and 822 litecoin, emptying hot wallets from the exchange.
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