Market Update for November 15th

Friday, November 15th 2019

Recent Headlines

Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban

The Royal Bank of Canada (RBC), which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange. According to The Logic, the bank is entertaining the possibility for the exchange to function both for investments and allowing clients to make purchases online and in brick-and-mortar stores. Read more...

Alibaba Partners with Lolli to Allow US Shoppers Earn ‘Free Bitcoin’

Chinese e-commerce giant Alibaba has partnered with Bitcoin (BTC) rewards shopping app Lolli, enabling its shoppers to earn 5% back in Bitcoin. Alibaba customers can now get Satoshis (sats), the smallest unit of Bitcoin currency, worth 0.00000001 BTC, when shopping “thousands of items online,” Lolli says. Read more...

10% of MoneyGram’s US-Mexico Business is Crypto-Enabled

An estimate by the World Bank pegged 2016’s global remittance market at $573 billion, and a whopping $422 billion of that went to developing countries. Speaking on stage at Ripple’s Swell conference, MoneyGram CEO Alex Holmes let it fly earlier today that 10% of his company’s business between the US and Mexico happens with help from Ripple’s On-Demand Liquidity. Holmes later clarified the 10% "represents the percent of our Mexican peso volume that we trade" using Ripple's platform. Read more...

Google Plans to Offer Checking Accounts in Partnership with Citi Bank

Search giant Google is planning to offer checking accounts via a partnership with banking giant Citigroup and lender Stanford Federal Credit Union. “Our approach is going to be to partner deeply with banks and the financial system. It may be the slightly longer path, but it’s more sustainable,” said Caesar Sengupta, general manager and VP of payments at Google. Read more...

Power Ledger Strikes Deal to Roll Out Blockchain in South Australia

Australian blockchain energy firm Power Ledger, which is developing blockchain solutions for the energy space, has partnered with Powerclub, a local energy retailer, to roll out its technology in South Australia. Powerclub members will be able to pool their surplus solar and battery storage to act as a virtual power plant, able to sell and distribute it to their neighbors without the need for a middleman. Read more...

CoinMarketCap Rolls Out New Metric 'Liquidity,' Aiming to Fight Fake Trading Volumes

Cryptocurrency data provider CoinMarketCap has launched a new metric dubbed “Liquidity,” aiming to combat fake trading volumes. The Liquidity metric looks at several factors, including order-book depth changes and distance from mid-price. Calculations are made by polling the market pair at random intervals over 24 hours and averaging the result. CoinMarketCap said the new metric replaces "Volume" and serves as the default standard for ranking cryptocurrency pairs and exchanges on its website. Read more...

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