Crypto news that matters.
How does mainstream adoption take place?
One day at a time. In this week’s news case – one IPO at a time.
Coinbase’s intention to go IPO and Arca’s launch of the first ever SEC registered fund to offer digital shares are all hinting towards a tectonic shift in the blockchain and crypto space.
Coinbase to go IPO
Coinbase is making headlines yet again. Reuters reported in an exclusive that Coinbase is preparing to go public either by end of this year or early next year. While the 2018 valuation has put the company at $8 Billion, we have to wait to see how much the company’s valuation will be for the IPO. The company has not yet filed the paperwork with the SEC. However, “Coinbase said it had hired Facebook Inc FB.N deputy general counsel Paul Grewal as its chief legal officer.” This has further cemented the rumor that the company is serious about its IPO plans.
Binance acquires Swipe
Binance is on a global dominance of crypto space. It has been making strategic investments to accomplish this mission. Binance has announced that the acquisition of Swipe has completed. The announcement disclosed that “The two companies will work together to further mainstream adoption of cryptocurrencies by bridging the gap between fiat and digital assets, notably payments and purchases in cryptocurrency through traditional financial systems.” Bringing the solutions that make the transition from crypto to fiat and vice-versa is one of the easiest ways to bring crypto to the masses. This partnership of Binance and Swipe is the step in the right direction.
Arca to become first SEC registered fund to offer digital shares
ArCoins will be issued on Ethereum Blockchain which will provide the interest to the investors on quarterly basis. The company will issue 100 million ArCoins at a face value of $1. Jerald David, president of Arca Capital Management, stated that ““Shareholders can directly transfer ArCoin using blockchain technology; other features of blockchain are being used for fund operations, such as freezing and replacing tokens for investors that have lost their public keys, and using smart contracts on the blockchain to enforce transferability of ArCoin to only whitelisted ETH addresses,” as reported by Forbes.
Lithuania issues world’s first digital collector coin on Blockchain
World’s first blockchain based digital collector coins will be created by the Bank of Lithuania. The press release states that “The Bank of Lithuania is planning to release 24,000 collector tokens created using the blockchain technology. Each token will feature one of the 20 signatories and collectors will have a chance to collect the entire set. The tokens will be divided into 6 categories by the signatories’ areas of activity, with 4,000 tokens allotted to each of them. When purchasing the digital coin, buyers will get 6 randomly selected digital tokens and only upon collecting a token from each of the 6 categories they will be able to redeem a physical silver coin. The tokens will be available for purchase and storage on the Bank of Lithuania e-shop.”
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