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#CryptoCorner: LINE (NYSE: LN) Changes Crypto Exchange from Singapore-Based BITBOX to US Platform, Grayscale (OTC: GDLCF) and Tradeblock Launch DLCX

KLM Royal Dutch Airlines (OTC: KLMR) Leveraging Blockchain for Financial Settlements

 

Point Roberts, WA and Delta, BC - February 28, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2020/022820-CryptoMarket.mp3

#CryptoCorner: LINE (NYSE: LN) Changes Crypto Exchange from Singapore-Based BITBOX to US Platform, Grayscale (OTC: GDLCF) and Tradeblock Launch DLCX

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Stocks discussed: (NYSE:LN) (OTC:GDLCF) (OTC:KMLR)

When we left off on Wednesday's Crypto Corner, Bitcoin (BTC), was trading for about $9,050. Since then it has continued to fall, reaching a depth of around $8,500 earlier today, before rebounding slightly to a trading price of $8,685 at press time, according to data from CoinMarketCap. This decline in Bitcoin, and by extension the wider crypto market of which it comprises 64 percent, coincides with an analogous drop in the stock market, where the Dow saw its largest point drop in history just yesterday. This is largely attributed to growing global concerns over the Coronavirus outbreak.

Japanese messaging firm LINE Corporation (NYSE:LN), has announced that it is closing its Singapore-based crypto exchange BITBOX, in favour of a U.S.-based platform called BITFRONT. An excerpt from its welcome announcement reads:

BITFRONT, formerly known as BITBOX, has been redesigned to provide a more sophisticated digital currency exchange service.

BITFRONT aims to provide the most secure and reliable digital currency trading environment for new and experienced traders around the globe to trade freely.

The announcement indicates that users in the U.S. who live "in eligible states can deposit USD to trade cryptocurrency by linking their bank account to BITFRONT" "via Automatic Clearing House (ACH) or wire transfer."

Indices provider TradeBlock and Grayscale Investments, manager of Grayscale Digital Large Cap Fund (OTC:GDLCF), have announced the launch of the TradeBlock Grayscale Digital Large Cap Index (DLCX). The DLCX will provide "market participants increased visibility into the daily performance and composition of GDLCF." According to the press release, "GDLCF's portfolio construction methodology was developed and is managed by Grayscale, an intra-day index price will now be calculated, verified, and published in real-time by TradeBlock, an independent pricing source."

KLM Royal Dutch Airlines (OTC:KLMR), in collaboration with software services provider unchain.io and enterprise software firm R3, is leveraging blockchain technology to simplify financial processes. Taking the form of an intercompany settlement application, the goal of the collaboration is to "to simplify the accounting process in a secure and efficient manner." Jelle van der Ploeg, CTO at unchain.io said:

"Unchain's mission is to provide organizations with solutions to simplify sharing data and transacting with their value chain. In the case of KLM, this means digitally transforming the settlement process with its subsidiaries. We're extremely proud to work with KLM and R3 on this innovative project and look forward to further expanding the solution, offering value to KLM and its partners."

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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