Author: Editorial Office CVJ.CH

The US investment bank JPMorgan, Singapore’s largest bank (DBS) and the state-owned investment firm Temasek have jointly launched a new blockchain company focused on global payments and cross-border transactions between banks. The new company called Partior seeks to digitize commercial banks’ money using the blockchain technology. It aims to reduce the existing friction in cross-border payments, transactions and foreign exchange settlement. The project is similar to, and potentially seeks to build the foundation for, plans around central bank digital currencies (CBDCs). Blockchain project by major banks Partior, which means “to distribute and share” in Latin, envisions an extensive network for…

Fundraising projects using cryptocurrencies are growing in popularity due to cross-border transactions being easy to execute. A fundraising campaign for Covid aid in India collected millions of dollars in contributions within a few days. However, some hurdles do still exist. India, the nation with the second largest population in the world, is currently suffering from a “tsunami” of new Covid cases. The country recorded nearly 350’000 illnesses on Sunday, which authorities and health facilities are struggling to combat. This marked the fifth consecutive day that India reported a record number of Covid cases, with the total number so far reaching…

Not much is left of the ambitious plans that Facebook presented to the public as Libra in the summer of 2019. The global corporation did not manage to dispel the concerns of critics. The evolution from currency basket “Libra” to the stablecoin “Diem”. Libra was a digital blockchain currency proposed by the American social media company Facebook. As a so-called stablecoin, Libra was supposed to represent the value of a basket of currencies. However, regulators expressed concerns, so many companies dropped out and Libra released a new whitepaper a year ago. However, the frontal assault on payments and central banks…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: After Coinbase announced they would list Tether, a premium emerged and has persisted for days. Volume Dynamics: Ethereum trade volume is growing relative to Bitcoin, a sign that traders increasingly consider the asset a viable investment. Order Book Liquidity: Binance.US is low liquidity compared to Binance Global and its biggest U.S. competitor, Coinbase. Volatility and…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Strong correction over the weekend The reporting week was characterized by the Sunday selloff that brought the bitcoin price to the 51,000 USD zone at the daily low and started accordingly cautiously. The regained territory around 55,000USD was held for the time being on Monday and Tuesday with trading ranges of 3,500 USD. On Wednesday, however, there was renewed selling pressure, which brought the bitcoin price back to 53,784 USD at the end of the day. From Thursday, consistently lower daily closing prices followed, characterized by respective lower daily highs. Consequently,…

The complete overview of the day’s events on the (crypto) markets. Compactly summarized in the market commentary of the CVJ.CH editorial team. Market Commentary Bitcoin (BTC) Just over a week ago, Bitcoin (BTC) reached a new all-time high at around $65,000. Shortly thereafter, a rapid correction brought the price back to the $54,000 zone (-15%). After a short consolidation phase, the next correction of similar magnitude brought the price back below the $50,000 mark. Currently Bitcoin is trading at $48,500. This means that the total plunge has accounted for around -25%. Although the correction may seem deep, it is not…

The Swiss issuer of crypto Exchange Traded Products (ETPs) 21Shares is launching the world’s first Stellar XLM ETP (AXLM) and Cardano ADA ETP (AADA) on the regulated market of the Swiss stock exchange (SIX Exchange). During the last rebalancing review, Stellar was admitted by the Index Provider (MVIS – HODL5) to the 21Shares HODL basket ETP as fourth constituent after Bitcoin Cash (BCH) and XRP were removed. According to the ETP issuer, now was a good time to add additional single asset ETPs for Stellar and Cardano to the current range of single crypto ETPs. Cardano (ADA) and Stellar (XLM)…

Venmo now offers its more than 70 million customers the opportunity to buy, store and sell cryptocurrencies directly in the app. Adoption of crypto-assets as a means of payment appears to be surging, including the simplification of what was originally a complex purchase process. Starting this week, U.S. customers of Venmo will have the ability to trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash directly. The PayPal subsidiary also offers tutorials and videos in the app to answer frequently asked questions. This is designed to help customers learn more about the world of cryptocurrencies. Strong demand for cryptocurrencies According to the…

Tokenization has been a hot topic lately, with a lot of new projects getting launched. Especially in Switzerland, the so-called “Crypto Valley”, this aspect of the blockchain technology has gained traction. A conversation with Tokentrust CEO Marco Grossi on the tokenization of commodities. In short, tokenization is the representation of an asset on the blockchain. For trading traditional financial products it may be only a small step forward, but for illiquid assets such as real estate, art or commodities, tokenization can open up new worlds. Thanks to their divisibility, global transferability, and the low transaction costs of blockchain tokens, smaller…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Following new all time highs, crypto markets experienced a steep sell-off over the weekend with billions in forced liquidations. The volatility caused Tether to appreciate to its highest USD price in more than a year. Volume Dynamics: Binance’s BNB and BUSD tokens have undergone an exponential surge in trading volume. Order Book Liquidity: Bid-ask spreads…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Strong correction over the weekend The reporting week started cautiously and with continued bullish undertone. The market focused on a break of the recently stubborn 60’000 USD resistance zone. Thus, on Monday, it traded in very narrow trading ranges around 59’800 USD. On Tuesday, the breakthrough finally helped Bitcoin to a new all-time high of 63’580 USD. On Wednesday, sustained demand led to another all-time high just below 65’000 USD. However, the onset of profit-taking later in the trading session sent the price back to 63’000 USD and led to a…

The Swiss Financial Market Supervisory Authority (FINMA) has granted financial services provider Taurus SA a securities firm license to operate a regulated marketplace for digital assets. The marketplace is intended to support any type of digital asset. With the new marketplace, the Swiss company aims to meet the growing demand from banks and issuers for an open infrastructure for tokenized securities and private assets. All types of digital assets will to be supported, not just cryptocurrencies. Potential of tokenization Tokenization broadly describes the representation of an asset on the blockchain. It may be a small step forward for trading traditional…

A comprehensive overview of the latest developments in the (crypto) markets. Concisely summarized in a market commentary by the CVJ.CH editorial team. Market Commentary Bitcoin (BTC) This Tuesday, on the day of Coinbase’s IPO, Bitcoin reached a new all-time high at $64,900. Since then, we have seen a small correction (-5%) and are at $61,200. Currently, the price is at the old all-time high, just above the strong support zone around $60,000. An even deeper correction would not do much harm to the positive market structure, but could lead to a slightly longer consolidation phase. Ethereum (ETH) Over the past…

AXA is the first all-lines insurance company in Switzerland to offer its policyholders the option of paying bills in Bitcoin. In doing so, it is investing in its digital development and responding to growing customer demand for more freedom of choice in payment transactions. As part of a market research study at the end of 2019, AXA surveyed people between the ages of 18 and 55 on the topic of cryptocurrencies. Even then, around a third of respondents said they owned them themselves, or were interested in them. The Corona crisis has once again accelerated the digital transformation over the…

In the first quarter, the crypto markets saw significant gains. Accordingly, it can be hard to keep track. The crypto market capitalization reached 2 trillion USD for the first time, while non-fungible tokens (NFTs) and the Binance Smart Chain gained momentum. The world’s leading cryptocurrency aggregator publishes a 50-page report every quarter. In their latest analysis of the market, they observed that decentralized finance (DeFi) on the Binance Smart Chain (BSC) grew significantly. Bitcoin also hit new all-time highs, while non-fungible tokens (NFTs) experienced the most hype. Crypto Market Capitalization over 2 Trillion USD At the end of Q1 2021,…

Evan GmbH is a software company with a focus on solutions that enable companies to collaborate efficiently, sustainably and securely with their partners and in the digital world. A conversation with CEO Thomas Müller about digital identity, sovereignty and DeFi. In recent years, a large part of the economy has shifted to the digital world. As such, relationships of trust have also become increasingly difficult. Permissionless, decentralized networks (blockchains) could perhaps offer a solution. Through decentralized financial applications (DeFi), it is already possible to use financial instruments without an intermediary. In 2018, Thomas Müller founded evan GmbH together with Thomas…