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Crypto Revolut In the US, Loans and Coffee on Blockchain + More News

Linas Kmieliauskas
Last updated: | 2 min read

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: Adobe/mino21

Crypto adoption news

  • UK-headquartered major fintech Revolut has launched its crypto trading service in the United States via a partnership with Paxos Trust Company. Revolut US is the first partner to leverage Paxos Crypto Brokerage, a new product offering that enables companies to integrate cryptocurrency buying, selling, holding and sending capabilities into their own applications.
  • The amount of bitcoin (measured in BTC) transferred between darknet entities and other entity types declined in Q1 2020 compared to the same period one year ago; however, the value of the amount of bitcoin transferred (measured in USD) grew by 65%, according to Crystal Blockchain, a research arm of blockchain technology group Bitfury.

Blockchain news

  • Major South Korean bank Nonghyup (NH Bank) is set to offer paperless, blockchain-powered loans and mortgages to civil servants beginning in August, reported Noksek Kyungjae Shinmun. The bank says that it has struck a deal with the government-run Korea Civil Service Pension Corporation and the Financial Settlement Service, and will make use of blockchain-powered ID solutions as part of its new offering.
  • 1850® Coffee, a J. M. Smucker Company brand, said that, by leveraging IBM‘s blockchain technology, they will help their clients to trace their coffee back to its country of origin and learn about efforts to help farmers in coffee-growing regions.
  • Chinese e-commerce giant said it will provide free blockchain electronic contract services for small and medium-sized enterprises until the end of the year, reported China Email. The firm has recently claimed its blockchain-based smart contract platform has uploaded over 1.3 billion pieces of data.
  • The Chinese province of Gansu’s energy provider has successfully deployed blockchain node on the government-run State Grid Corporation of China network, reported The Paper. The province’s energy provider is the second in China to do so, following a similar move from the Ningxia Hui Autonomous Region’s energy company.

Security token news

  • Crypto investor Ceres has joined the Japan Security Token Association (JSTA), per a press release. The company is an internet marketing services provider, but has been active in the Japanese crypto scene since early 2018.

DeFi news

  • Sequoia Capital-backed, cross-chain data oracle, Band Protocol (BAND) said that it is enabling open-source blockchain platform, Waves (WAVES) to jump into the DeFi (decentralized finance) industry by bringing cross-chain integration of its data oracles to the Waves’ ecosystem including usage for the surging algorithmic stablecoin Neutrino.

Regulation news

  • The Ukrainian Ministry of Finance said it is working on a bill that will see crypto legalized in the nation. Per a post on the ministry’s official Telegram channel, the ministry said that it is working on the draft legislation with two industry groups, Blockchain4Ukraine and the Blockchain Ukraine Association, and noted that the move will open the path to crypto taxation in the country.

Career news

  • Major crypto company BlockFi has hired Jonathan Mayers as General Counsel who should help “the firm remain at the forefront of regulatory standards.” Mayers has a background in traditional finance having spent over 10 years at hedge fund Renaissance Technologies, and having managed legal and compliance at banks like Deutsche Bank and Barclay’s.