CryptoCorner: Samsung (KSE: 005930) Invests $2.9 Million in Crypto Startup Ledger, Nike (NYSE: NKE) Files Trademark Application for "Cryptokicks" and Coinme Announces Over 2,000 Bitcoin ATMs in the US
Point Roberts, WA and Delta, BC - April 25, 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: Samsung (KSE:005930) Invests $2.9 Million in Crypto Startup Ledger, Nike (NYSE: $NKE) Files Trademark Application for "Cryptokicks" and Coinme Announces Over 2,000 Bitcoin ATMs in the US
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Stocks discussed: (KSE:005930) (NYSE:NKE)
South Korean electronics giant Samsung (KSE:005930) has invested $2.9 million into crypto wallet startup Ledger, according to a report from French business magazine Capital. The investment raises the valuation of Ledger to roughly $290 million. The crypto startup is known for its Ledger Nano S, a hardware wallet that resembles a USB stick. France's Minister of Economy and Finance, Bruno Le Maire, said of the company:
"Ledger has everything to become very quickly our first French unicorn blockchain."
CoinDesk reports that France's new legal framework governing the crypto space will guarantee bank accounts to crypto startups and blockchain projects. Companies that opt in to the framework drafted by the AMF, the country's financial markets overseer, will not be refused business by banks. Domitille Dessertine, head of the fintech, innovation and competitiveness division at AMF, said:
"The relationship between the project and the bank remains contractual, but if the banks refuse then they will need to justify with us why they have refused to open a bank account."
Dessertine also indicated that the legislation has already sparked interest from the crypto space:
"There has been significant interest in the new license proposed for digital asset service providers, which includes crypto exchanges, be they fiat to crypto or crypto to crypto. So if Huobi, for instance, wants this license it will be possible for them to ask for it."
Nike (NYSE:NKE) has filed a trademark application in the U.S. for "Cryptokicks". The document indicates a series of cryptocurrency-related functions intended for the name. Trademark attorney Josh Gerben posted an analysis of the application on Twitter. In his analysis, Gerben reacts to the line in the document that reads, "providing a digital currency or digital token for use by members of an on-line community via a global computer network", with the opinion that: "this is trademark speak for ‘this is a cryptocurrency called Cryptokicks."
Blockchain and fintech company Coinme has announced that it is experiencing considerable growth in the amount of bitcoin ATM kiosks opening in the U.S. in its collaboration with Coinstar, with over 2,000 locations now operating. Neil Bergquist, CEO and co-founder of Coinme, said:
"Our rapid growth is the result of our leadership in digital currency from the early days of the industry and our expanded ability to offer local kiosks for its purchase. Through our relentless focus on customer success and product innovation, we have become the trusted, safe and secure global standard for digital currency exchange."
Sam Mowers, Investorideas
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