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#CryptoCorner: #Bitmain May Be Gearing Up for IPO, #Coinbase Nearing SEC Registration and Thailand to Test Central Bank Digital Currency

 

Point Roberts, WA and Delta, BC - June 7, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.

Crypto Corner - June 7, 2018

Bitmain May Be Gearing Up for IPO, Coinbase Nearing SEC Registration and Thailand to Test Central Bank Digital Currency

Bloomberg reports that Bitmain Technologies Ltd., the largest producer of cryptocurrency mining chips in the world, may go public. The report revealed that Bitmain CEO, Jihan Wu, had "no specific plans at the moment", but that "he's open to a listing in Hong Kong -- or in an overseas market with U.S. dollar-denominated shares".

"One of Bitmain's biggest competitors, Canaan Inc., has already filed for a Hong Kong IPO that people with knowledge of the matter said could raise about $1 billion. Bitmain's 2017 revenue was about twelve times that of Canaan's."

Coinbase president and COO Asiff Hirji announced in a blog post that the company was "on track to operate a regulated broker-dealer." Hirji said that Coinbase has acquired a broker-dealer license, an alternative trading system license and a registered investment advisor license.

"There are now many types of blockchain-based digital assets, from cryptocurrencies to security tokens to collectibles. In the United States, some of these assets will be subject to SEC oversight. With this in mind, securing these licenses will bring us a step closer to our goal, which is to be the most trusted way for our customers to buy, sell, and use many different types of crypto assets."

Thailand's central bank is exploring the use of digital currency in conducting interbank settlements. In a speech at the Nomura Investment Forum on June 5 in Singapore, Bank of Thailand (BoT) governor Veerathai Santiprabhob explained that the goal of the undertaking, named "Project Inthanon", would be more efficient transactions.

"Like other central banks, our goal is not to immediately bring CBDC into use, but rather to explore its potential and implications for back office operations. These efforts should pave way for faster and cheaper transaction and validation due to less intermediation process needed compared to the current systems."

Sam Mowers, Investorideas

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