Major Financial Company to Handle $11 Trillion Volume With Blockchain
The Depository Trust & Clearing Corporation (DTCC) has announced its plans to utilize Blockchain technology to facilitate credit default swaps in collaboration with IBM, Axoni and R3CEV. Axoni and the R3 consortium are competitors within the Blockchain industry and are both backed by multi-bln dollar banks and financial institutions. Axoni, in particular, garnered the interests of Goldman Sachs and JPMorgan in December of 2016, raising $18 mln from other organizations such as Wells Fargo and ICAP. The two startups will lead the development of the DTCC’s credit default swaps processing....
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Popular decentralized exchange (DEX) platform on Ethereum, Uniswap, celebrates a major milestone. Via its official Twitter account, the team behind the protocol announced that it has processed $1 trillion in all-time trading volume. Related Reading | Coinbase Is on a Downwards Spiral and Could Be Taking your Crypto with It As seen below, this metric has been on an uptrend since September 2020. At that time, the protocol processed less than $10 billion in cumulative trading volume. The $1 trillion milestone was reached in less than a year as Uniswap went processing around $250 billion....
Kay Van-Petersen, an analyst at Saxo Bank, told CNBC that Bitcoin price could hit $100,000 in the next 10 years. Cointelegraph previously reported that the daily trading volume of the cryptocurrency market was nearing that of major stock markets. However, the cryptocurrency market’s trading volume is still only a fraction of leading stock markets such as NASDAQ. In order for the cryptocurrency market to surpass the trading volumes of major stock markets, it has to surpass a trillion dollar market cap. In an interview with CNBC, Van-Petersen stated that Bitcoin alone will most likely....
The crypto economy has come awfully close to nearing the $3 trillion handle as far as the value of all 10,000+ crypto assets is concerned. Today, crypto market aggregation sites show the entire crypto-economy at $2.756 trillion is worth more than the value of Apple’s market cap at $2.467. Furthermore, the top ten crypto-asset exchanges, in terms of cryptocurrencies held in reserves, hold more than $200 billion or 7.47% of the entire crypto economy. 10 Centralized Crypto Exchanges Hold 7.47% of Crypto Economy’s Value in Custody Digital currencies are far more valuable today....
The crypto asset just won over the won. The market capitalization of Bitcoin recently rose above $1 trillion once again. Now the asset has surpassed the total market cap of the South Korean won.According to data from AssetDash, the Bitcoin (BTC) market cap is $1.057 trillion at time of publication. This exceeds the money supply of the South Korean won, which was estimated to be 1,178,748,600,000,000 KRW as of December 2020, and is currently valued at roughly $1.04 trillion. Bitcoin’s market cap rose above $1 trillion for the first time in February following the announcement that Tesla had....
Bitcoin services company Coinplug has snatched the top prize in a financial technology competition sponsored by major banking group JB Financial Group. Over 100 companies vied for a total prize pool of 130m Korean won ($116,200) at the FinTech Frontiers Fair held in Seoul, South Korea. JB Financial Group is a financial services company with over 35.5 trillion Korean won ($32.3bn) in assets and 3,300 employees. It is one of the leading innovators of financial technology in East Asia. Coinplug's winning entry, which scored 50m KRW ($45,500), was a system utilizing the bitcoin blockchain to....