The world’s fifth largest bank, Mitsubishi UFJ Financial Group (MUFG), is planning to put its new digital currency, the MUFG Coin to practical use this year. This plan to rollout this new crypto was announced by the Japanese bank’s president Kanetsugu Mike during an interview with a local news agency.
Cryptocurrency Market Updates
According to a news report published on April 07, an ex-employee of the US-based cryptocurrency exchange Kraken is suing the company for $900,000 for not paying him for his work.
SVK Crypto just revealed that it led a $2 million Series A funding round for MakerOS. Alongisde EOS Global’s participation, the latter wants to utilize the funds in expanding the company. At the same time, the funding will enable the firm to integrate the EOSIO blockchain technology directly to its very own software platform.
The Gibraltar Stock Exchange Group’s (GSX Group) subsidiary, Hashstac Inc. has partnered with STO Global-X, a Singapore based technology firm, to help with the issuance of cryptocurrency tokens. This new partnership was announced on April 05 by the Gibraltar Blockchain Exchange (GBX).
One of Canada’s major cryptocurrency exchanges, Coinsquare, has launched a new stablecoin that is backed by the Canadian dollar. The new token is called eCAD and will be backed on a 1:1 ration to the Canadian dollar.
The Blockchain-powered payments startup Celo has managed to raise $30 million from major crypto investors such as Andreessen Horowitz as well as Polychain Capital. Celo is the trading name for the company A Protocol Inc.
A new study published by SwissBanking on April 1 shows that the Fintech sector in Switzerland is growing, while traditional banks are stagnating. The report, called IFZ FinTech Study, was made by the Lucerne University of Applied Studies.
The police in Canada have frozen the assets of the founders of Vanbex, a Blockchain based services company, as part of its investigation of fraud committed during a 2017 ICO that raised about $22 million.
During a business presentation, the representative of the Japanese crypto exchange Decurret named Kazuhiro Tokita revealed a new crypto payment system. Basically, it will activate the Suica payment card issued by the country’s biggest railway company to be topped-up with digital currency.