“Indian Banks Join JP Morgan’s Blockchain Platform”
JP Morgan gave a big boost to its global transactions business by bringing in seven top Indian lenders such as ICICI and Axis Bank to its blockchain platform that enables payments to reach beneficiaries faster with fewer steps in cross-border payments. Christened as IIN (Interbank Information Network), the platform is the first live blockchain service by JP Morgan and represents the largest number of banks to join a live application of blockchain technology. The seven banks include Yes Bank, Union Bank of India, Federal Bank of India and Canara Bank.
“SoFi Offers Zero-fee Crypto Trading”
California-based financial firm SoFi has added zero-fee cryptocurrency trading to its platform SoFi Invest. According to an official announcement on Sept. 25, crypto trading on SoFi Invest joins the list of previously introduced trading of stocks and exchange-traded funds. SoFi Invest now offers clients to buy three major cryptocurrencies such as Bitcoin (BTC), Ether (ETH) and Litecoin (LTC), with the firm claiming that users do not even need to set up a crypto wallet, according to the platform’s website.
“bitFlyer Announces New Offerings”
New cryptocurrencies are coming to the European and American subsidiaries of BitFlyer. According to a release from the exchange today, bitFlyer Europe is adding buy and sell trades for bitcoin cash (BCH), ethereum classic (ETC), litecoin (LTC), lisk (LSK) and monacoin (MONA). bitFlyer USA is adding bitcoin cash, ethereum classic, and litecoin to its trade offering as well. One of the oldest crypto exchanges, bitFyler operates out of Japan. Recently it was recognized as a ‘Real-10’ exchange by a Bitwise report to the U.S. Securities and Exchange Commission. In the spring report, Bitwise claimed only ten of the top cryptocurrency exchanges–equal to five percent of the market–displayed real trading volumes.
“1Confirmation Raises $45 Million For Its Second Fund”
Nick Tomaino, a former Coinbase employee who launched one of the first crypto investment funds, announced on Wednesday that his firm, 1Confirmation, has raised $45 million for a second fund. Notable for being early to the crypto investing space, 1Confirmation has attracted a list of high profile investors including Founders Fund head Peter Thiel, as well as Andreessen Horowitz namesake Marc Andreessen and Dallas Mavericks owner Mark Cuban. In an interview with Fortune, Tomaino said the crypto industry is still waiting for a mainstream application beyond speculation, but added that the use of crypto for savings and lending is getting traction.