Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- A total of 17 Chinese tech companies, including a number of banks, will co-launch a decentralized blockchain-powered ID (DID) platform that will allow customers to use smartphone app-based authentication solutions and submit documentation online. Per The Paper, the group includes IT heavyweights like search engine giant Baidu, as well as banks such as WeBank. State-owned telecoms giant China Telecom is another notable name on the list.
- Japanese property giant Sekisui House has unveiled more details of its forthcoming blockchain-powered rentals platform, to be rolled out before the end of 2020. Per Nikkei, the company has reaffirmed plans that it will roll out the platform in the next six months – and says it will allow renters to do away with time-consuming identification processes involving utility providers, arrange viewings and sign contracts with property owners.
- The Bank for International Settlements (BIS) financial institution finds that the Covid-19 pandemic will act as a catalyst speeding up the creation of Central Bank Digital Currencies (CBDC). A perfect storm of people not wanting to trade cash out of fear of viral transmission, and governments locking businesses down, thus forcing consumers online, has forced central banks everywhere to speed up the creation of their digital currencies, their report states.
- Major professional service company KPMG has launched a suite of analytic tools to help fintech companies offer cryptocurrency assets to institutional players. Per the press release, the suite is called KPMG Chain Fusion, which is designed to address “complex, foundational problems” faced by organizations looking to join the crypto market.
- Leading Japanese exchange bitFlyer has announced that an A-listing pop singer has become the face of its latest advertising campaign. The company released a video advertisement featuring the star – Japanese-Burmese actress, model and singer Asuka Saito – as well as a slew of other materials featuring the singer, who is also a member of chart-topping pop group Nogizaka46.
- Major crypto exchange Binance recently introduced Binance Access, a business-to-business (B2B) solution for merchants, vendors and wallets. Announcing the news in an emailed press release, Binance said its new offering allows businesses to easily integrate a “buy crypto” feature on their platform, regardless of if they’re new or existing Binance users. Visitors of these businesses will be able to natively buy crypto with fiat, directly on the platform.
- A new cryptocurrency trading and portfolio management app for individual investors dubbed Motocho was recently launched. Its creators say that the offering comes with institutional-level trading tools, trade history analysis, real-time market data, and gain and loss reporting. It is currently in open beta, and users interested in testing it out need to request access first. The management and advisory team behind it is composed of people from across the industries, says the press release, and from companies such as E*TRADE, Coinbase, Maynard Cooper, FS Vector, Circle, and Avex Mortgage (acquired by Better.com).
- Nimiq and TEN31 (the fintech arm of German WEG Bank AG), recently launched Nimiq OASIS (Open Asset Swap Interaction Scheme) – a protocol which "makes off-chain assets behave as if they were tokens on a blockchain," as the press release says. It enables swapping between Euro and Bitcoin or NIM “almost instantly," its creators say, adding that it comes with low fees and no need to provide personal information, an email address included.
- Japanese financial services company Tokai Tokyo is set to launch a digital securities trading platform with a Tokyo-based blockchain company named Hash Dash, reports Nikkei. The same news outlet reports that Singapore-based exchange operator ICH X TECH has also invested in Hash Dash.
- Security-critical infrastructure provider METACO teamed up with the Frankfurt School of Finance and Management research institute, the Frankfurt School Blockchain Center (FSBC), the company announced in an emailed press release. Through this partnership, METACO expects to strengthen its offerings and expand its position in the market.
- Contactless hardware wallet Keycard has gone live. This was confirmed by its creators, The Status Network in an emailed press release, which added that the product will be integrated with the Status App at the start. The app, designed for Android mobile devices, acts as a secure mobile messaging application, crypto wallet, and Web3 browser. Users will be able to physically tap their wallets against their phones to authorize in-app purchases, it was said in the press release.
- A new report by the Australian Securities and Investment Commission (ASIC) warns of a rise in scams during the Covid-19 pandemic. One of the ways cybercriminals and fraudsters are stealing money from people is by tricking them into buying fake cryptocurrencies. Per the report, investment-type scams surged 20% in the period between March and May this year.