Japan’s Coincheck ramps up crypto offerings: The global sell-off is not stopping Japanese exchange Coincheck from enhancing its trading base to now include Ripple (XRP) and Factom (FCT). The exchange also resumed the selling of NEM (XEM) recently, the currency behind a hack of $530 million worth of NEM tokens.
More trouble for Bitmain: Crypto mining has not been receiving the best headlines of late, especially in China. Earlier this month mining machine company Bitmain announced it would be delaying its IPO in Hong Kong and then came news that Chinese miners were giving up in droves. Now, a US$5 million class-action lawsuit alleges that Bitmain mined crypto-currency for its own benefit using customer equipment. The action, taken in a Los Angeles court, alleges that the company is deliberately benefiting from lengthy mining device “initialization” periods.
Sharia-compliant bond issued on blockchain: In Abu Dhabi a sharia-compliant bond has been issued that is, according to issuer Al Hilal Bank, the world’s first “sukuk” (sharia compliant bond) transaction completed on distributed ledger. Blockchain was used to settle a small portion of the $500 million five-year trade. This is not the first blockchain bond in the world, however. In August, the World Bank launched a US$79.7 million two-year bond blockchain-based bond.
Hong Kong port embraces blockchain: Hong Kong’s Modern Terminals have signed a deal to use a Maersk-IBM blockchain platform. The TradeLens solution works to process documentation and verification to speed up customs clearance. More than 20 port and terminal operators globally are piloting the solution. The system claims to allow shippers, shipping lines, freight forwarders, port and terminal operators, inland transportation and customs authorities access to operational data – including container temperature and information weight – and also to blockchain smart contracts.
World’s first ‘political’ crypto in Malaysia: Bank Negara Malaysia, the country’s Central Bank, says they must approve all new digital currencies. This comes as the crypto-currency Harapan Coin is launched. The team behind the initiative calls it the world’s first “crypto-politic” coin and it is backed by Paratan Harapan, the current government ruling coalition who have created it to elicit “opposing sentiments against the current governing coalition, in preparation for the coming election.” They hope to raise $120 million. And to date? $715.35.