TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Tether launches Tether Gold token. Ripple could file for an IPO this year, according to its CEO. The central bank to central banks, the BIS, states emerging markets are spearheading CBDC research. Ripple stopped selling XRP to exchanges during Q4 2019. Coinbase custody adds support for Matic, and 24% of British workers believe crypto should be taught in schools.
Tether Gold Launched
Tether Gold, the digital asset pegged to physical gold is officially live!
— tethergold (@tethergold) January 23, 2020
Tether, the company behind the most popular stablecoin (USDT), launched Tether Gold (XAUt), a cryptocurrency that will be redeemable for a troy fine ounce of gold from a London Good Delivery bar. Tether Gold claims to solve a problem with trading fine metals: the cost of custody and the delivery of the good once traded. Tether Gold has no custody-associated costs, and will be available as an Ethereum or a TRON token. “There is growing demand for digital exposure to physical gold, making the launch of Tether Gold a timely innovation in the crypto ecosystem.” said Paolo Ardoino, Tether’s CTO.
Ripple Could Go Public, Hints CEO
Brad Garlinghouse, CEO of Ripple, the cryptocurrency remittance tech company, hinted at the possibility of his company and others in the cryptocurrency world of going public this year. “In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company,” Garlinghouse stated during a speech at the World Economic Forum in Davos.
BIS: Emerging Markets Lead Pursuit of CBDC
A report released by the Bank of International Settlements (BIS) found while most central banks are interested in the topic of Central Bank Digital Currencies (CBDCs), only 40% have been developing any kind of project involving them. Only 10% of the surveyed central banks answered they were planning to launch a Central Bank Digital Currency in the short term, all of these coming from EME (Emerging Market Economies) nations. “EMEs have generally stronger motivations than advanced economies, especially when a CBDC is being designed as… replacement for cash,” the report states.
Ripple Stopped Dumping XRP on Exchanges During Q4 2019
Ripple, the company behind the XRP cryptocurrency, made significant changes in its token sales policy during the last quarter of 2019. Ripple, broadly criticized for dumping millions of dollars on their holders, did not make any sales in exchanges during the mentioned period of time, and only sold $13 million worth of XRP trough OTC channels, according to its own market report. Coincidentally, Ripple saw an influx of $200 million as a result of a funding round in December, a development that could have influenced this sudden stop in XRP sales from the company.
Coinbase Custody Adds Support for Matic
Coinbase Custody, the institutional custody service, added support for Matic, the token associated with the Matic Network. Institutional users will be able to use the Coinbase in-house solution to save their Matic tokens. Matic is a blockchain solution directed to solve the scaling and throughput problem of other popular blockchains such as Ethereum and BTC. The project has come a long way since being listed on Binance as the result of an Initial Exchange Offering.
25% of British Workers Believe Crypto Should be Taught in Schools
A new survey from CoinBurp, a cryptocurrency trading company, found 24% of British workers believe cryptocurrency should be added to the national curriculum. The report takes these numbers from a survey involving 2,000 British workers by polling company Censuswide. In response, Peter Wood, CEO of CoinBurp, explained, “With trust in established financial institutions at an all-time low, the need for preparing the next generation to understand, invest and use digital currencies is absolutely vital.”
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