#CryptoCorner: Slight Market Uptick, Iran Negotiating with 8 Countries Regarding Crypto, Fidelity Eyes March Launch of Bitcoin Custody Service, Genesis Makes $1.1 Billion in Crypto Loans and Gemini Completes SOC 2 Audit
January 30th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - January 30, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: Slight Market Uptick, Iran Negotiating with 8 Countries Regarding Crypto
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Slight Market Uptick, Iran Negotiating with 8 Countries Regarding Crypto, Fidelity Eyes March Launch of Bitcoin Custody Service, Genesis Makes $1.1 Billion in Crypto Loans and Gemini Completes SOC 2 Audit
The crypto market saw a modest uptick overnight as total market capitalization is nearing $116 billion USD at press time, according to data from CoinMarketCap. This comes after a drop on Sunday from around $119 billion to a low on Monday of $111 billion. Much of the top 100 coins listed by market cap are in the green, with Bitcoin (BTC) approaching a trading price of $3500. XRP has shown some of the most impressive growth, rising 9 percent in the last 24 hours and consolidating its position as the biggest altcoin.
The Tehran Times reports that Iran has been negotiating the use of cryptocurrency with eight countries in response to pressure resulting from ongoing US sanctions. Mohammad-Reza Modoudi, the acting head of Iran's Trade Promotion Organization (TPO) said:
"Representatives from Switzerland, South Africa, France, England, Russia, Austria, Germany and Bosnia have visited Iran to hold related talks about the issue."
Bloomberg reports that Fidelity Investments is eyeing a launch date in March for its Bitcoin custody service, citing three unnamed sources with "knowledge of the matter". The project, which was initially announced in October, offers large investors crypto products. The first that will be available is Bitcoin storage, followed by Ether custody, according to the sources. Fidelity said in a statement yesterday:
"We are currently serving a select set of eligible clients as we continue to build our initial solutions. Over the next several months, we will thoughtfully engage with and prioritize prospective clients based on needs, jurisdiction and other factors."
Forbes reports that bitcoin lending firm Genesis Global Capital made $1.1 billion in crypto loans in 2018, despite the severely diminished crypto market cap. Genesis CEO Michael Moro said:
"It should be possible for people to go long and short bitcoin. It can't just be a long-only market. It should be perfectly okay to take the other side, to think that prices are going to fall, and to make that short bet."
According to a Medium post yesterday, crypto exchange Gemini completed a Social Organizational Control (SOC) 2 Type 1 examination. The post claims that "SOC 2 reviews have become an industry standard for demonstrating security compliance" and that Gemini is the "world's first cryptocurrency exchange and custodian to demonstrate this level of security compliance in protecting customer data and funds."
Sam Mowers, Investorideas
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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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