Japan’s Mitsubishi UFJ Financial Group (MUFG) has officially announced it will launch a new blockchain-based payment system, according to a press release published on Feb. 12.
The world’s fifth-largest bank is working on the project in partnership with the United States content delivery network Akamai, with the aim to launch in H1 2020.
Bitstamp is a European cryptocurrency exchange is going to combine a new platform, published on November 27th. It is only to improve customer protection and compliance.
Bitstamp has formed a partnership with Irisium Ltd, a British market surveillance company to improve the safety and reliability of its marketplace. The Bitstamp exchange will position in Irisium’s platform to monitor market activities and to attract more institutional investors.
The CEO of Irisium Ltd, Alastair Goodwin said that the adoption of the Irisium’s platform would help to increase the integrity, confidence, and transparency in the cryptocurrency world. By then, it improves the market adoption and liquidity.
“The new payment network will be a diverse payment service equipped with an interface that can be used as a communications network, and including functions for the transfer and management of value through blockchain,” a press release explained at the time, adding:
“This will allow for a significant reduction of transaction costs for all kinds of payment services, and could support a large expansion in transaction numbers.”
Bitstamp is the largest cryptocurrency exchange. It is large in trading the volume of the EU bitcoins. And it was founded in the year 2011. It supports trading for the Ethereum, Litecoin, and US dollars, Ripple, Bitcoin Cash, Bitcoin, and Euro.
The exchange obtained the NXMH, and a Belgium based Investment Company. It is, in turn, a subsidiary of the Investment bank Barclays. The company is also a subsidiary of Korea based media
conglomerate NXC Corp., which almost bought 65.19% stake last year in Korbit, a South Korean based cryptocurrency exchange.
Bitstamp along with the cryptocurrency exchanges like Gemini, BitFlyer USA, and Bittrex established a self- regulatory organization which is dubbed the Virtual Commodity Association Working Group for the digital commodities like cryptocurrencies. The main aim of the Organization is to help large-scale investors to get more comfortable with the crypto world. And the organization is also trying to focus on the work on formulating industry standards too.
The Chicago Mercantile Exchange which is known as CME group in partnership with the Crypto Facilities, a UK based exchange, launched the CME CF Real-Time Index and Ether Dollar reference Rate to offer the rate in US dollars to the clients to a real-time Ethereum cost. Both rates are set to be calculated by the Crypto Facilities. It is based on the transactions and order booking activities from the crypto exchanges Kraken and Bitstamp.