Bitwise Licenses New Index To Amun To Support Swiss-Listed Exchange-Traded Product 9458

Bitwise

Bitwise Index Services, LLC, the index calculation and dissemination subsidiary of Bitwise Asset Management, announced today that it has licensed a new index to the Swiss-based fintech firm Amun AG that will be used as the benchmark index for a new Swiss-listed exchange-traded product (ETP) available only outside the United States.

The Bitwise 10 Select Large Cap Crypto Index is designed to track the performance of up to 10 of the largest crypto assets in the world, as measured and weighted by free-float and inflation-adjusted market capitalization. Constituents must meet a variety of criteria to qualify for the Index, including rules related to security, liquidity and institutional support.

“We are thrilled to be working with Amun to help non-U.S. investors gain diversified exposure to the crypto markets,” said Matt Hougan, Global Head of Research for Bitwise Asset Management. “The Index is carefully designed to capture a broad array of cryptoassets while accounting for many of the unique constraints presented by the current cryptocurrency ecosystem.”

All assets in the index must be approved to serve as the underlying for an ETP by SIX, the Swiss Exchange, and must be both supported by appropriate market makers and available for custody at leading institutional custodians. The Index is rebalanced and reconstituted on a monthly basis.

As of the May 31 rebalance, the Bitwise 10 Select Large Cap Crypto Index included eight cryptoassets with the following weights:

Asset

Ticker

Weight

Bitcoin

BTC

67.80%

Ethereum

ETH

11.50%

XRP (Ripple)

XRP

8.33%

Bitcoin Cash

BCH

3.52%

Litecoin

LTC

3.47%

EOS

EOS

3.36%

Lumens (Stellar)

XLM

1.10%

Cardano

ADA

0.90%

The full methodology for the Index is available here.

“We are thrilled to partner with Bitwise to bring the most broadly diversified crypto ETP to investors in Switzerland,” said Hany Rashwan, CEO of Amun. “Bitwise is the global leader in crypto indexing, and we are excited to launch a product that builds on their expertise.”

“It is incredibly early in the evolution of the crypto markets, and it is difficult to say at this point which assets will become the most important,” said Hougan. “The Index is designed for Swiss investors who want to be sure they gain and maintain exposure to the most important crypto projects in the world.”

ABOUT BITWISE

Bitwise Asset Management is the leading provider of index and beta funds for the cryptoasset space. The firm created the world’s first cryptoasset index fund in 2017, and today manages multiple funds serving institutions, family offices, financial advisors, asset managers, and high net worth individuals. Its indexes serve as a benchmark for more than 30 leading crypto hedge funds, academics, and large financial institutions. Based in San Francisco, Bitwise’s executive team combines decades of experience in traditional asset management and indexing with deep knowledge of software and technology. The team has backgrounds at firms including BlackRock, Goldman Sachs, Deutsche Bank, US Commodity Funds, IndexIQ, ETF.com, Facebook, and Wealthfront. Bitwise is backed by institutional investors and leading venture capital firms including Khosla Ventures, General Catalyst, and Blockchain Capital. It is a frequent commentator on crypto in publications like Institutional Investor, CNBC, Barron’s, Bloomberg, The Wall Street Journal, and The New York Times.

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The Changing World of Payments 11484

Payments

The payments industry is evolving at pace. In Digital Payment Services we are helping to shape those changes, allowing us to transform our services and deliver the best for our users. Often when we talk about payments, people automatically think of CPS, our Central Payment System, however our payments estate is much more extensive and complex than that. That means any new changes will be felt across our payments ecosystem that provides services for our 20 million customers.

Design thinking

The way the industry is changing has not only influenced our design thinking, but has also challenged our understanding of the needs and demands the next 5-10 years could bring, as well as the known challenges and pain points.

A key principle of design thinking is to challenge our mind-set and put the users and their experiences front and centre. Before shaping the future, we need to consider the influencers and disruptors that could have direct and indirect implications. Some of the disruptors we’re watching are Blockchain and Distributed Ledger Technologies. Other important influencers include socio-economic changes, such as an aging population increasing demand on our services. We’re also looking at the introduction of open banking, which is aiming to create more competition in the payments industry by opening up and standardising banking data.

An important conclusion of our design thinking is that although we must change and develop new services, we need to protect the core services that our users rely on.

Changing trends

Some of the trends that we’ll be watching as we transform our payment services include:

  • New Payments Architecture – this will introduce the biggest set of changes to the way UK payment schemes process payments in years. Forecasted to start implementation in 2021, a common payment message standard will be introduced, the existing schemes will be consolidated and new overlay services, such as Request to Pay and Confirmation of Payee, will be available.
  • Open Banking – this is now starting to reshape financial services at pace, enabling new business models and products.
  • Distributed Ledger Technologies – we are starting to see the first full production implementations, such as Santander’s One Pay FX. The benefits include reducing time, cost and failure rate associated with making transactions whilst data is stored on a secure immutable ledger.

I’m keen for us to consider how we can harness the payment innovations coming out of these trends and how we can influence the New Payment Architecture to help shape future of payments across government.

Successes so far

Payments are core to our service and are critical to help people live better lives.

We’ve already achieved a lot: we’ve insourced some services, migrated the hosting of our core payments system from external suppliers to on premises hosting and now manage and evolve our payments systems within the department. We have delivered some fairly significant change: introduced a new Faster Payment solution allowing for near real-time payments. And we have migrated our banking services to the new Government Banking Services.

As we move our Payment Services forward they need to be efficient, modern, fast, scalable, flexible, innovative and available 24/7. To do this we’re building a team of incredible people and skills. But most importantly, we’re continuing to ensure our customers receive their payments on time.

Fraudulent use of Bitmain by Mangocoin (MGC) 11549

Bitmain

Bitmain have recently become aware of the fraudulent use of the “Bitmain” brand in the sale of a product named “Bitmain Cloud Miner” and its use in the promotion of “Mangocoin (MGC)” on its website, APP and software. In this regard, we’d like to clarify the following:

1. “Mangocoin (MGC)” and its website, APP, social media accounts, WeChat groups, QQ groups, etc. are not business channels or platforms of Bitmain, and these have no connection or affiliation with us whatsoever.

2. The “Bitmain Cloud Miner” on any platform of “Mangocoin (MGC)” is not developed by Bitmain.

3. For the fraudulent use of the “Bitmain” brand and any imposters, we will resolutely adopt legal means to protect ourselves and our customers’ rights and interests.

4. We would like to remind our existing and potential customers to correctly identify the service provider when purchasing products, to sign up for or purchase anything online only after careful deliberation and stay alert to misleading promotions, illegal fund-raising, fraud and other malicious activities on the internet.

When some of these activities catch our attention, we inform the public about them through our blog, where there is section dedicated to such announcements. If you would like to report any such activities to us, please leave us a message here.

tZERO Awarded Patent For Technology Enabling Traditional Trading Systems To Be Anchored Into Public Blockchains 12999

tZERO, the global leader in blockchain innovation for capital markets, announced today it was awarded a patent by the U.S. Patent and Trademark Office for the Time Ordered Merkle Epoch (TOME) methodology. TOME is a base-layer technology that uses digital signatures to record and verify time-series data such as trades, executions and settlements. This technology enables low-latency systems, including traditional matching engines or private blockchain ledgers, to be anchored into immutable public blockchain ledgers.

The TOME system will allow tZERO to record incoming trades quickly and efficiently in a time-series, producing a hash at any time interval, which can be anchored on a public blockchain. With the technology behind this patent, tZERO is able to verify the existence of previous trades and simultaneously produce an auditable and immutable record of those transactions. This system provides valuable functionality to exchanges and trading venues required to report trade activity, as well as to regulators for audit purposes.

tZERO CEO Saum Noursalehi said, “This technology, which is synergistic with the patent that we announced earlier this year, has many use-cases in our ecosystem. It can be used in our suite of products, as well as licensed to companies across various industries that are seeking to maintain a tamper-proof and auditable record of time-series-based data. Today’s announcement showcases our technological leadership in blockchain innovation and underscores the strength of tZERO’s intellectual property and its growing portfolio of strategic assets.”

In conjunction with the patent tZERO was granted in January 2019, TOME can be utilized to link the settlement of tokenized blockchain-based securities on a public blockchain with legacy trading systems. Additionally, it can record and anchor the execution venue’s transactional data and the resulting on-chain settlement data into public blockchain ledgers. For example, off-chain trade data and on-chain settlement data occurring on an Ethereum mainnet can be combined and anchored into the Bitcoin blockchain for added resiliency, security and transparency.

Hong Kong-based Cathay Pacific Pioneers ULD Blockchain Technology 13338

Cathay Pacific

Hong Kong-based Cathay Pacific is the first airline to introduce blockchain technology to manage its ULDs in real time via a mobile app and will ultimately eliminate paper receipts, following a successful trial last year.

The first stage of the project began in July. It will initially focus on ULD transactions in Hong Kong and selected locations in the US before being rolled out across the entire Cathay Pacific network.

The carrier describes its blockchain-enabled system as a “single source of truth” that provides standard data and greater visibility for all concerned parties. Once all ULDs have the necessary sensors installed, it can become a total paperless solution.

Cathay Pacific e-cargo and digital enablement manager Calvin Hui, who initiated the project, said: “Using blockchain to establish a trustworthy ULD database across the network will not only assist with ULD management, but also improve the service quality and experience for our customers.

“The most obvious benefit we expect to see is having sufficient ULD stocks for our customers during peak cargo periods, because we will know where exactly to find our ULDs.”Cathay Pacific

US Capital Global Securities Announces Addition of Blockchain Technology Venture Capital Fund to Its Portfolio 12063

US Capital Global Securities, an affiliate of US Capital Global, is offering to accredited investors a $10 million equity investment in CityBlock Capital’s first tokenized venture fund, NYCQ Fund LP (the “Fund”), as the Fund’s exclusive placement agent. US Capital Global Securities recently added the Fund to its own expanding portfolio. The Fund has holdings in leading names in the FinTech and blockchain infrastructure arena, including Coinbase, Bakkt, Nomics, and Tagomi:*

Headquartered in San Francisco, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin. Coinbase’s global revenue last year totaled approximately $520 million, according to Reuters.

Bakkt is a digital asset and currency exchange launched by the Intercontinental Exchange (NYSE: ICE). The company is expected to begin testing its two Bitcoin futures contracts on its platform on July 22 this year. Backed by a diverse array of big names, including Starbucks Corporation (SBUX) and Microsoft Inc. (MSFT), Bakkt aims to be a game changer in the cryptocurrency investment industry.

Nomics is a cryptoasset data company that delivers professional-grade market data APIs to institutional crypto investors and exchanges. It offers products and services that allow funds, fintech apps, and exchanges to access clean, normalized and gapless primary source trade and order book data. The firm also provides white-label market data APIs to exchanges.

Tagomi is an electronic brokerage offering prime services for investors of Bitcoin, Ethereum, and other digital assets. Tagomi provides a single touch point for digital asset trading at institutional operational standards, treasury management, transparency, custody solutions, and other services. Tagomi aims to make it easy to navigate the extremely fragmented global digital asset landscape.

“Combining low minimum investment amounts and early liquidity opportunities, the Fund gives accredited investors access to blockchain infrastructure investments normally available to institutional investors,” said Charles Towle, CEO at US Capital Global Securities. “Our firm is keen to back forward-thinking strategies at the frontline of the digital market era. The opportunity to participate in this $10 million equity investment in the Fund is still open to eligible investors.”

tZERO Crypto App Now Available On Android 12290

tZERO

tZERO, the global leader in blockchain innovation for capital markets, through its tZERO Crypto unit, announced today that an Android version of its recently launched cryptocurrency mobile app (the “tZERO Crypto App”) is now available. Investors who want to participate in the global cryptocurrency market will be able to buy, sell and hold digital currencies directly on their mobile phone through the tZERO Crypto App, rather than using more vulnerable, third-party exchanges for custody.

Initially, the tZERO Crypto App will support bitcoin and ethereum, two cryptocurrencies vetted for longevity, however, the company anticipates introducing additional digital assets to the app in the future. The iOS version of the digital wallet and exchange services app for cryptocurrencies was launched on June 27 and has been well received by users.

tZERO CEO Saum Noursalehi said, “We are excited to bring our platform to Android users, which we believe will significantly expand our user-base. The accessibility of the tZERO Crypto App is critical in our plan to provide an intuitive trading experience for all digital assets

tZERO Crypto is committed to compliance and safety and will utilize biometric authentication for added security and ease of use. Investors will also have access to tZERO’s unique private key recovery system to restore their funds and cryptocurrencies in the event that they lose their private keys or mobile phone.

The app is available for download on the Google Play Store. For more information on tZERO Crypto, please visit: https://www.tzero.com/crypto-app.

tZERO is a technology firm that was founded in 2014 with the goal of utilizing blockchain technology to revolutionize Wall Street so that financial processes could become less beholden to traditional institutional market structures and to bolster and enhance market integrity. tZERO is a keiretsu company of Medici Ventures, the blockchain subsidiary of Overstock.com, Inc..