Author: Editorial Office CVJ.CH

The Governing Council has decided to launch a trial phase of a digital euro project (CBDC), which is expected to last 24 months. The decision was made after the preliminary experimentation phase did not reveal any technical obstacles. In a press release, the ECB announced concrete steps towards the introduction of a digital euro. Exploratory phase of CBDC digital euro project to last 24 months Design to be based on user preferences and technical advice from retailers and intermediaries So far, no technical obstacles have been identified during the preliminary trial phase “It has been nine months since we published…

An exclusive partnership of crypto exchange traded products (ETPs) issuer 21Shares AG and Germany’s largest online financial platform Comdirect, allows investors to add crypto products to their savings plan. In this innovative partnership, 21Shares has been appointed as the exclusive provider of physically backed crypto ETPs for the online broker’s savings plan program. Eleven of 21Shares’ ETP offerings currently listed in Germany are available on the Comdirect platform. Bridge between crypto investments and savings plans Currently, Comdirect offers products and services to more than 2.9 million customers (September 2020) so they can easily and conveniently conduct their banking and securities…

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 the UK’s Binance ban, Bitcoin pairs denominated in the British Pound have traded at a steep discount to the U.S. Dollar. Volume Dynamics: Average weekend trading volume has increased relative to weekday volumes over the past year. Order Book Liquidity: The bid-ask spread for BTC-USD pairs has widened on all exchanges analyzed throughout this…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Stalemate accompanied by declining volatility Incipient selling at the beginning of the reporting week led the Bitcoin price back below the 34’000 USD mark on Monday. This was followed by two trading sessions in narrow trading ranges around this very price area on Tuesday and Wednesday. On Thursday, persistent sell orders brought the price back to the 32’000 USD mark at the daily low. This negated the establishing positive microstructure from higher daily lows last week. However, negative momentum then failed to materialize on Friday, and the market recovered to 33’851…

SEBA Bank will list a new Polkadot tracker certificate on the SIX exchange from July 9, 2021. In addition, the bank will include Polkadot in the SEBAX Crypto Asset Select Index with an initial weighting of 7.8%. SEBA Bank believes that Polkadot is one of the most exciting projects in the digital asset space, due to its ambition of connecting all blockchains with one another and thus enabling cross-chain transfers of any data and asset, not just tokens. Through this it is achieving true interoperability. Foundation for Web 3.0 This is especially important in the creation of a fully decentralized…

Circle’s IPO brings all USDC Central Consortium members to the public market. The second-largest U.S. dollar stablecoin, which is jointly managed with crypto exchange Coinbase, has gained strong popularity and is gradually becoming a competitor for Tether (USDT). Circle, the issuer of the USDC stablecoin, will go public in a merger with special purpose entity Concord Acquisition Corp – a publicly traded special purpose acquisition corporation (SPAC). The deal is valued by Circle itself at $4.5 billion. It is expected to close in Q4 2021. Circle IPO aims to create transparency The merger comes just weeks after the company received…

Swiss banking giant UBS has warned its clients about the risks that more intense regulatory requirements pose to the crypto market. A tougher regulatory crackdown could lead to a bursting of the “crypto bubble,” according to the big bank. In a letter to its clients, UBS explained why it considers digital assets too risky and unsuitable to offer to professional investors. Regulators around the world are eager to crack down on crypto markets, it said. After a tougher crackdown, the “crypto bubble” could burst, according to UBS. Regulatory crackdown on cryptocurrencies An obvious example of a change of mind among…

The island nation is increasingly looking into the new asset class. The Philippine Stock Exchange (PSE), for example, wants to allow trading in cryptocurrencies. Its citizens have been interested in it for quite some time, and blockchain games in particular are enjoying great popularity. The Philippine Stock Exchange (PSE) should be the primary exchange platform for crypto assets, President and CEO Ramon Monzon told CNN on Friday. The idea was broached during a management meeting two weeks ago. One of the reasons given by the CEO for his approach is that PSE already has the necessary infrastructure for crypto trading.…

According to a new announcement, the Covesting copy trading module has received an update debuting a new feature that assists followers with securing profits and capital management. The feature is reminiscent of one of the more compelling features of the PrimeXBT trading platform. The new “Take Profit” feature ensures that any unrealized ROI built up from successful strategy followings can be secured – all without having to completely stop following the strategy. The latest feature adds more flexibility to the Covesting ecosystem and boosts overall profitability for users – here’s how, as well as some important details to note. Covesting…

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: Bitcoin suffered the worst quarterly returns since 2018, down 40% since the start of Q2. Volume Dynamics: The majority of Binance trade volume occurs during the overlap between North American and European trading hours. Order Book Liquidity: Two months after listing Tether, Coinbase’s BTC-USDT liquidity still lags far behind BTC-USD. Macro Trends: The U.S. Dollar…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Detachment from the 30’000 support zone Bitcoin was able to leave the previous week’s lows around the 30’000 support zone behind during the reporting week. On Sunday, incipient buy orders pulled the price significantly away from the previous day’s levels and ensured a daily close at 34’709 USD. On Monday, a short consolidation in narrow trading ranges was observed at the level of 34’500. On Tuesday, follow-on buying took the price to 35’904 USD and back to the area that served alternately as a support and resistance zone in the consolidation…

With Kaleido Private Bank, InCore Bank and SOBACO have gained an additional customer. The integration of the Zurich private bank is carried out as part of a full outsourcing: Based on Finnova’s banking software, the two banks offer technical and banking services from a single source. Having previously limited outsourcing to software and its operation, Kaleido Private Bank has now opted for full outsourcing. Thanks to the merger of IT and business, the Swiss private bank has a complete range of bank- and order-specific end-to-end processes at its disposal for handling its banking transactions. With this private bank, another member…

650 US banks will soon be able to offer Bitcoin purchases to their total of 24 million customers. This will be made possible through a collaboration between payments giant NCR and crypto-custodian NYDIG. Are we in for mass adoption? Demand for cryptocurrencies has surged over the past year. Many banks want to meet customer demand, but also avoid capital migration to external exchanges. Rather than lose those assets to third-party cryptocurrency exchanges – or send awkward notices to their customers telling them they won’t tolerate the purchases – they want to offer crypto services themselves, Forbes writes. “Many banks have seen…

London Stock Exchange-listed TP ICAP Group, the world’s largest interdealer broker, is launching a crypto trading platform for institutions, expanding its presence in the fledgling market. The decision follows strong demand from institutional clients. The London-based broker has been offering Bitcoin futures since 2019. Now, TP ICAP is partnering with Fidelity Digital Assets and Standard Chartered to offer crypto transaction execution and settlement, Reuters reports. The platform has begun client registration and will launch in the second half of the year, with liquidity providers such as Flow Traders. Legitimizing the crypto industry London-based major bank Standard Chartered already announced a…

Blockchain technology and the associated applications such as cryptocurrencies are among the major developments that have fundamentally changed not only the financial industry worldwide and will change it even more in the future. In this context, we are also hearing more and more about security tokens. Are these digitized tangible assets or assets among the buzzwords that will quickly disappear again, or are they sustainable innovations? If numerous experts are to be believed, the answer to this question has long been yes. However, the concrete preparation and implementation of security token offerings is still unclear. No gold standard has yet…

The acquisition is an important step on Deutsche Börse’s way to building a trusted and fully regulated digital asset ecosystem in Europe. Crypto Finance’s founder, Jan Brzezek and the current management team will continue to lead the company and retain significant personal holdings. Deutsche Börse Group has acquired a majority stake in Crypto Finance AG, a financial group under consolidated FINMA supervision that offers trading, storage, and investment in digital assets to institutional and professional clients. Through the acquisition, Deutsche Börse further extends its offering for digital assets by providing a direct entry point for investments, including post-trade services such…