in the bigger scheme of things who cares - just gives us more time to dot the i's and cross the T's and get those clients on board to start using our Exchange - based on regulatory approvals etc better to say Q4 as putting a date out there like that is not realistic in this environment IMO
William Suberg Fatfish Internet Group: Markets Could ‘Accept’ Bitcoin ETF Within ‘Couple Of Months’
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NEWS
Global markets will be “ready to accept” a Bitcoin (BTC) exchange-traded fund (ETF) in as soon as a “couple of months,” Fatfish Internet Group CEO Kin-Wai Lau told CNBC on July 29.
Speaking to CNBC’s dedicated cryptocurrency segment, the Coin Rush, Lau expressed a firm belief in Bitcoin’s current price rally, explaining,
“It’s a very strong wave; it’s driven by institutional demand, it’s driven by adoption. [There’s] lots of interest this time around — trading volume is several times higher than during the lows.”
Bitcoin continues to trade above $8,000 after briefly dipping to around $7,700 late last week. Despite the Winklevoss twins’ ETF receiving a second rejection on July 26, prices bounced back above $8100 shortly afterwards, reinforcing users’ belief in the robustness of Bitcoin’s return to form.
Lau noted that the bounce back is “generally very positive for early adopters and people who have interest in the sector.”
As Cointelegraph previously reported, multiple ETF applications are due for review by the U.S. Securities and Exchange Commission (SEC), which has already postponed making a decision about an offering from Direxion until mid September.
After the agency rejected the Winklevoss’ ETF petition, SEC Commissioner Hester M. Peirce published a statement of official dissent, arguing that the SEC had overstepped its “limited role.”
Lau told CNBC that he foresees a potential shift in the regulatory atmosphere in the near future:
“I think we’re not far away; I think probably just a couple of months away from being ready for the market to generally accept an ETF.”
Fatfish caused a stir earlier this year when it announced it was entering the cryptocurrency miningmarket on the back of higher prices. In January, the company invested $1 million for a 51 percent stake in Singapore startup APAC Mining.
Now for those who were questioning banks and brokerages trading cryptos for their clients think again - THIS BANK BELOW HAS ISSUED ITS OWN CRYPTO they say .....Our goal is to become the world's first blockchain investment bank and to provide tangible solutions which help drive efficiencies, reduce cost base and open up new revenue opportunities for our customers and intermediaries alike,” chairman of the board of directors Mohammad Hans Dastmaltchi commented in the release. “...As such, our fiat-backed Union Bank Payment Coin has the potential to disrupt the approach to international trade and international cross-border transactions.”
Liechtenstein Bank Issues Own Crypto Stable Coin, Aims to Become ‘Blockchain Investment Bank’
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NEWS Liechtenstein bank Union Bank AG announced it was issuing its own security tokens and in-house cryptocurrency backed by fiat in a press release Friday, August 17.
Union Bank, which has concentrated increasingly on blockchain this year, said issuing its so-called “Union Bank Payment Coin (UBPC)” was a further step towards becoming a “full-service blockchain investment bank.”
UBPC will act as a stable coin, the institution explained, and will have fiat currencies “such as the Swiss franc” as its backing.
“Our goal is to become the world's first blockchain investment bank and to provide tangible solutions which help drive efficiencies, reduce cost base and open up new revenue opportunities for our customers and intermediaries alike,” chairman of the board of directors Mohammad Hans Dastmaltchi commented in the release.
“...As such, our fiat-backed Union Bank Payment Coin has the potential to disrupt the approach to international trade and international cross-border transactions.”
The news came the same week that major cryptocurrency exchange Binance launched a fiat-to-cryptocurrency exchange in the tiny European principality catering to both Swiss francs and euros.
Both Binance and Union Bank praised the jurisdiction’s pro-blockchain stance, indicating a desire to see functionality increase in time.
In partnership with Swiss blockchain advisory Verum Capital, Union Bank said it was now looking to introduce blockchain “throughout its processes and supporting technology.”
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