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Crypto Corner Episode 460: LINE's (NYSE: $LN) LVC to Launch Crypto Lending Service, Riot Blockchain (NasdaqGS: $RIOT) Expands Operational Capacity with Another Miner Purchase


Point Roberts, WA and Delta, BC - October 7, 2020 ( Newswire), a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.

Listen to today's Crypto Corner Podcast:

Crypto Corner Episode 460: LINE's (NYSE: $LN) LVC to Launch Crypto Lending Service, Riot Blockchain (NasdaqGS: $RIOT) Expands Operational Capacity with Another Miner Purchase


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Stocks discussed: (NYSE:LN) (OTC:SBHGF) (NasdaqGS:RIOT)

The Bank of Korea (BoK), South Korea's central bank, has announced plans to begin testing for its digital currency next year, according to a report from the Korea Herald today. This would conclude the BoK's 22-month pilot program, which was announced in April of this year. Despite this announcement, the BoK insists that this pilot program does not guarantee the adoption of a CBDC, but that the bank is "merely testing the waters." The report in the Korea Herald asserts that "the coronavirus pandemic is accelerating global CBDC development, with more and more people turning to contactless and cashless payments."

Across the sea in Japan, LVC, the blockchain and crypto exchange division of messaging giant LINE (NYSE:LN), is launching a crypto lending service. CoinDesk reports that the service allows users to lend cryptocurrencies to the company's BITMAX crypto exchange, whereupon lenders will receive a "rental fee," akin to a bank loan interest payment. Moreover, according to the report, from Oct 7 to Oct 30 LINE will run "a campaign that will let users earn up to 10% per annum of the fee from the lending service."

Elsewhere in Japan, SBI Holdings, Inc. (OTC:SBHGF) has announced the acquisition of TaoTao crypto exchange. A loosely translates excerpt outlines the company's intention with the exchange:

In the future, we will make maximum use of the management resources such as know-how and knowledge of the SBI Group as a comprehensive financial group and the customer base and service know-how of crypto assets that TaoTao has cultivated so far, and the latest, safe and secure crypto assets. We will provide trading services.

Riot Blockchain, Inc. (NasdaqGS:RIOT) has purchased an additional 2,500 next generation S19 Pro Antminer (110 TH/s) cryptocurrency miners for USD $6.1 million from BitmainTech PTE. LTD., scheduled for receipt and deployment delivery in December 2020. This addition, which continues Riot's operational expansion, is expected to bring 842 PH/s in operational hash rate with 9,540 miners deployed by late December 2020 - a 50 percent increase over the company's previous projections.

Sam Mowers, Investorideas

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