CryptoCorner: Fidelity to Launch Crypto Trading in Coming Weeks, CFTC Prepared to Approve Ether Futures, SIX May Issue Digital Token and Blockchain-Powered Pepsi Ad Sees 28% Efficiency Boost
Point Roberts, WA and Delta, BC - May 6, 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: Fidelity to Launch Crypto Trading in Coming Weeks, CFTC Prepared to Approve Ether Futures, SIX May Issue Digital Token and Blockchain-Powered Pepsi (NASDAQ: PEP) Ad Sees 28% Efficiency Boost
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Stocks discussed: (NasdaqGS:PEP)
Bloomberg reports that financial services multinational Fidelity will launch a crypto trading service for institutional investors in the coming few weeks, according to "a person familiar with the matter". Fidelity Digital Assets, which was launched in October 2018, currently offers a Bitcoin (BTC) custody service. The Bloomberg article quotes Fidelity spokeswoman Arlene Roberts from an email:
"We currently have a select set of clients we're supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients' needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin."
CoinDesk reports that the U.S. Commodity Futures Trading Commission (CFTC) is prepared to approve a futures contract for Ether (ETH), so long as it meets the regulator's requirements. The unnamed CFTC source said:
"I think we can get comfortable with an ether derivative being under our jurisdiction. We don't do bold pronouncements, what we do is we look at applications before us."
The source went on to explain:
"A derivatives exchange comes to us and says 'we want to launch this particular product.' ... If they came to us with a particular derivative that met our requirements, I think that there's a good chance that it would be [allowed to be] self-certified by us."
Switzerland's top stock exchange, SIX, may issue its own digital token, according to an interview with the exchange's executive Thomas Zeeb on Finews published today. Zeeb said:
This year, we'll deliver a pilot in late summer and first services will be live in early 2020. We will start with so called native digital applications - launching new tokens and an initial digital offering (IDO) service.
Zeeb went on to explain why currently SIX Digital Exchange (SDX) has no plans to trade cryptocurrencies:
The fatal flaw in trading cryptocurrency is not knowing who's behind the trades and where the coins are coming from - by design. We have responsibilities in terms of ensuring that appropriate anti-money laundering and transaction monitoring processes, as is the case today in the traditional world, are in place. The way bitcoin is currently set up and traded, it wouldn't meet the criteria for SDX.
Media agency Mindshare ran a blockchain-driven test ad campaign for Pepsi (NasdaqGS:PEP), which saw a 28 percent increase in cost efficiency, according to a press release today. The test was part of Project Proton, which explores solutions using smart contracts on the Zilliqua blockchain. Farida Shakhshir, Director of Consumer Engagement for PepsiCo AMENA said:
"We are happy to be partnering with Mindshare to test the application and value add of blockchain in media. It is key that we stay abreast of new technologies, and continue to advance transparency, viewability, brand safety and buying efficiency. The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact."
Sam Mowers, Investorideas
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