Ripple made a strategic investment in Zilo and Licuido as it looks to enable the use of tokenized funds as collateral from the point of issuance. Ripple announced two new strategic investments as the blockchain-focused fintech seeks to expand access to tokenized financial assets on its blockchain ledger. The company said it made strategic investments in Zilo, which provides global transfer agency asset solutions for wealth managers, and in Licuido, a tokenization solutions provider regulated by the UK Financial Conduct Authority, according to a Monday announcement. Financial details for the investments were not provided. UK-based Zilo has raised $58.7 million in total equity funding, according to data compiled by Traxcn. Licuido is also based in the UK. Read more
Bitcoin could confirm an August bear-market bottom, though rising Treasury yields could force the Fed to raise rates in September, according to 10x Research. Bitcoin could confirm a bear-market bottom in August with a monthly close above $63,000, according to 10x Research. Markus Thielen, founder of 10x Research, said in a Monday report shared with Cointelegraph that Bitcoin closed July below the threshold needed to confirm a technical bottom. A monthly close near $63,000 would turn several of 10x Research’s cycle indicators bullish. Bitcoin was trading at $63,140 when the analysis was prepared, meaning a relatively small gain from July’s closing level could trigger the reversal signal. The company said it continued to favor long positions but would shift to a neutral stance if Bitcoin broke key support levels and moving averages. Read more
HashKey Exchange said it received approval to open client money accounts with JPMorgan, weeks after it launched customer fund accounts with DBS Bank. Hong Kong-licensed cryptocurrency exchange HashKey Exchange received approval from JPMorgan Chase to open a client money account, its parent company said Monday. The account will support client fund segregation and settlement through JPMorgan’s banking infrastructure, HashKey Holdings said in a press release. A week earlier, HashKey Holdings combined the previously separate HashKey Exchange and HashKey Global applications into a single portal. Read more
The crypto exchange stopped accepting new registrations from Japan residents and will begin progressively restricting existing accounts on Nov. 1. Crypto exchange Bitget said it will stop providing services to residents of Japan and phase in account restrictions. The exchange announced Monday that it had stopped accepting new registrations from residents of Japan, while account restrictions will begin Nov. 1. Any positions still open on Dec. 31 will be forcibly closed. Bitget said users who believe they have been incorrectly classified as residents of Japan must complete “Level 2” identification, which includes address verification, by Nov. 1. Failure to do so will result in their accounts being classified as belonging to residents of Japan. Read more