#CryptoCorner: Bitcoin Cash Surge in the Wake of Bitmain IPO Application, Swiss Company Raises $104 Million USD for Crypto Bank, Goldman Sachs (NYSE: $GS) Leads $25 Million Funding Round for #Blockchain Payments Startup #Veem
September 27th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App
Point Roberts, WA and Delta, BC - September 27, 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, now available in podcast.
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#CryptoCorner: #Bitcoin Cash Surge in the Wake of #Bitmain #IPO Application, Swiss Company Raises $104 Million USD for Crypto Bank, Goldman Sachs Leads $25 Million Funding Round for Blockchain Payments Startup Veem
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Bitcoin Cash Surge in the Wake of Bitmain IPO Application, Swiss Company Raises $104 Million USD for Crypto Bank, Goldman Sachs Leads $25 Million Funding Round for Blockchain Payments Startup Veem and Ukraine's Central Bank Considering State-Backed Digital Currency
Stocks discussed: (NYSE:GS)
At $217 billion USD, the total market capitalization at press time, as stated by CoinMarketCap, has not moved so much in the past day when it clocked in at $216 billion USD. Most major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH) and XRP have not fluctuated greatly in the last 24 hours. Litecoin (LTC), however, has seen growth of 8 percent since yesterday and Bitcoin Cash (BCH) has surged some 15 percent. A piece on CCN by writer Yashu Gola connects the Bitcoin Cash jump to yesterday's news of Bitcoin Mining Giant Bitmain's IPO application.
"It is unclear whether the Bitmain will receive approval or not. Nevertheless, the mere announcement of the company applying for an IPO has injected upside sentiments among the BCH speculators.
The BCH/USD market, as a result, was host to bulls in the past two days. The upside sentiment arrived only after the Bitmain announcement. Therefore, it would be safe to say that speculators started entering long positions on a strong near-term bullish feeling. The market can still erase its gains if longs begin to get executed near the new highs."
Bloomberg reports that Swiss financial services company Seba Crypto AG has raised 100 million swiss francs ($104 million USD) from private and institutional investors to start a Cryptocurrency bank. The planned bank would allow clients to "easily swap dollars and euros into cryptocurrency". Seba Crypto AG's CEO, Guido Buehler, said the company has been in talks with Swiss financial regulator Finma since April and that a final license application would be submitted by the end of October.
Veem, a blockchain payments startup, has announced via blog post, that it has closed a $25 million USD strategic funding round led by Goldman Sachs (NYSE:GS). Veem aspires to transform the global payments space with their multi-rail payments platform, which they claim "ensures speed, security, and the lowest possible fees by finding the perfect route for any particular transfer". According to the announcement, Veem's customer base has "exploded" to over 80,000 small businesses in 96 countries.
The National Bank of Ukraine (NBU) is considering the idea of a state-controlled digital currency, according to local news outlet Vesti Ukraine. Some of the reasons NBU is considering the move are greater protection of funds, faster transaction time and the reduction in physical cash in the economy, which costs the bank a lot of money. At this point nothing is confirmed, however, and the bank will proceed "only after a detailed analysis".
Sam Mowers, Investorideas
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