Ripple Tested in South Korea, Poloniex Acquired by Circle: Best of the Week

Catch up on last week's top stories.

VeChain Thor

VeChain partnered with BMW and renamed itself VeChain Thor.

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The blockchain-based supply chain enhancement platform has also partnered with Oxford University and been listed on the South Korean cryptocurrency exchange Coinnest.

Is China cracking down on forex?

BMFN, a Chinese forex broker, was told to exit the country, apparently as a result of a government official becoming  a customer of the company.

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As it prepares to close down, the broker is selling its investor portfolios to an undisclosed European broker, according to a company statement.

Ripple consolidates in Asia

Woori Bank, one of the biggest banks in South Korea, announced that it successfully tested overseas remittance using Ripple. It intends to offer it as a service to customers some time this year.

37 Japanese banks and one from Thailand also tested the service, and a source said that Ripple will be adopted by several banks in Japan too.

Upgrade to Trader’s Room

B2Broker upgraded the popular product ‘Trader’s Room’, which allows brokerages to run a business. Trader’s Room 2.0 caters to brokers looking to begin operations.

COO  Evgeniya Mykulyak said: “The latest version is fully customisable with a brand new design and offers deep integration with different blockchains as well as our cryptocurrency payment gateway.”

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Leumi is told to stop blocking cryptocurrency

The Israeli Supreme Court decided to prohibit banks from blocking the accounts of cryptocurrency-related companies.

A temporary court order was issued barring Leumi Bank from limiting in any capacity the bank account of Bits of Gold, an Israeli cryptocurrency broker.

Poloniex enters the circle

Poloniex, one the world’s biggest cryptocurrency exchanges, was acquired by Circle Internet Financial Limited, a cryptocurrency startup backed by Goldman Sachs, in a deal estimated to be worth $400 million.

Circle says that it does not intend to change the way that Poloniex operates, but improve it and expand token listings.

Cryptocurrency-themed rebranding may be coming to an end

Regulatory authorities in the US and South Korea have begun to take action against companies that give themselves cryptocurrency-related names as a ploy to raise the value of their stocks.

The FSS. of South Korea is currently investigating 20 companies that it suspects have done this, while the Chairman  of the SEC in the US vowed action.

DMM passes 600,000 contracts

Finance Magnates Intelligence has published a new report which notes that Japanese broker DMM surpassed a milestone in account numbers.

The report also found that the top 10 Japanese brokers have grown by 7.4 percent since January 2017.

 

 

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