Exchanges Come to Life, Bitcoin Prices Advance in Otherwise Quiet Week

Another quiet summer week saw its fair share of development in the blockchain technology space, as well as more venture

Another quiet summer week in the crypto-sphere still saw its fair share of development in the blockchain technology space, as well as more venture investment.

Bitcoin-powered payments startup Bitreserve, which pegs user holdings to fiat currencies or precious metals, raised another $2 million through crowdfunding. BitX, a bitcoin wallet, merchant service and exchange, got $4 million in a Series A round led by the payments arm of South Africa internet giant Naspers’ Group.

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French banking giant BNP Paribas is the latest financial institution to disclose toying with blockchain technology, trialing it for its trading operations. Tunisia’s government and French Bank Société Générale are looking for unpaid interns to explore Bitcoin and blockchain technology.

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Coinffeine, a Spain-based bitcoin exchange, officially launched following a trial phase. The exchange is unique in taking the form of open source, non-web based software, aiming to facilitate decentralized, peer-to-peer (p2P) bitcoin trading without the need for a central custodian over funds.

Tyler and Cameron Winklevoss applied to the New York Department of Financial Services (NYDFS) to grant their envisioned bitcoin exchange, Geminin, a trust company charter.

Bitcoin prices closed the week higher by 3.2% at $288, advancing to their highest levels since breaking $300 two weeks ago. Litecoin closed the week higher by 18% at $4.58, continuing its wild ride.

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