Bakkt Warehouse is Now Active and Ready for Bitcoin Futures
Today, we are going to discuss four hot pieces of news. In the first segment, Bakkt has just announced on Twitter that their Bakkt Warehouse is now active for Bitcoin Futures. Second up, it’s super cool to see the Brave Browser become the most downloaded web browser in Japan. Third up, it looks like the US’ largest investment brokerage firm Schwab, is steering clear of the cryptocurrency industry, although rivals like Fidelity are rushing in to embrace the emerging sector. And finally, we will then end the video with news regarding LG, the electronics giant and how they are now developing a blockchain smartphone to compete with Samsung’s phones.
The Market Today
Once again today, we are witnessing a mixed market. BTC, the token with the largest market cap is slightly decreasing by 0.59%. Similarly, in the third position, XRP has lost 1.23% from yesterday while Ethereum is following the opposite direction with a 0.77% gain.
Bakkt Bitcoin Warehouse is activated
According to a report on U today, Bakkt, a bitcoin futures exchange, and digital assets platform has just announced that its custody service Bakkt Warehouse is now active for Bitcoin Futures. Regarding the announcement, the firm stated on Twitter:
“The Bakkt Warehouse is active for futures. Bitcoin deposited at our Warehouse is protected by a $125 million insurance policy.”
With this insurance, you can be sure about your deposited asset at the Bakkt Warehouse. Now according to Bakkt’s blogpost, Bakkt compared their Bitcoin Warehouse as revolutionary as the ATM. While ATMs had a major impact on retail customers, we’re excited to see the impact that Bakkt Warehouse will have on institutional investors.
Brave is the most downloaded browser in Japan
According to an article on Use The Bitcoin, the Brave browser has surpassed Firefox and Opera, to become the most popular browser on Japanese android phones. This is the first time that the Brave browser beats other competitors to take out the first spot in such a large country like Japan. While their competitors such as Opera and Firefox are growing weaker in popularity over time, Brave is advancing with many integrations and adoptions (especially due to their privacy features) to potentially be one of the most popular web browsers around the world. It’s worth mentioning that Brave browser is in the 9th position in terms of the most downloaded application for Android in Japan in the “communication” category. While it’s not at the top of the charts, Brave is slowly getting there.
So why is Brave gaining so much popularity in Japan? To give you a bit of context, Japan is famous for its crypto-friendly environment with increasing crypto adoption, regulation, and awareness of digital currencies. But that’s not all, their currency the Japanese yen is the second most popular currency traded for BTC, right after the USD. With Japan’s crypto friendliness and their high crypto trading volume, perhaps Japan will be one of the first countries to witness greater changes when it comes to the crypto landscape.
Investment Giant Schwab steers clear of crypto
Third up, we have an article by Cointelegraph, reporting that Schwab, the U.S.’ largest investment brokerage firm with a $3.2 trillion fund, is not looking to invest in cryptocurrencies, anytime soon. Rob Farmer, Schwab’s managing director for corporate communications, told reporters that the firm is not currently pursuing cryptocurrencies and even cautioned investors that they
“should view these currencies as a purely speculative instrument.”
One critic of this mindset, Tim Welsh, of California-based consultancy Nexus Strategy and president of Larkspur, claimed:
“He’ll never willingly upset the apple-cart, unless the market forces him to do so. Until [Schwab’s] biggest advisors demand they do something, they will continue their sleepwalk through innovation.”
While Welsh adopts are a very critical view of Schwab’s moves, Aite Group Financial technology analyst Gabriel Wang, however, noted that that the crypto industry is currently worth around $300 billion, even less than 10% of Schwab’s money and just 1% of the U.S. equities’ market size:
“The overall market size of cryptocurrencies, at this point, is still not big enough for firms like Schwab […] to justify the risks they will be taking […] It could be worth it for these firms to wait.”
LG is developing crypto-enabled smartphones
According to an article on Cointelegraph, the South Korean electronics giant LG is reportedly partnering with blockchain providers to develop a new kind of blockchain smartphone in response to Samsung’s Klaytn smartphone. The news was first released by a local daily news outlet, reporting that LG is under discussions with local decentralized application (DApp) developers and had developed a use case for its future product. Now, for those who are curious about this phone, it is still unknown to the public. However, it is reported by Cointelegraph that Samsung’s Klaytn Phone will only be available to domestic South Korean users in the near future.
So what are your thoughts regarding all the news?
Is the Bakkt Warehouse revolutionary to the finance sector like the everyday ATM?
Do you believe that Brave will soon be the most downloaded browser in other countries and not just Japan?
Do you agree with the approach of investment giant Charles Schwab?
Will there be a domino effect regarding crypto-enabled smartphone offerings?
Please leave a comment right below to let me know what you guys are thinking. It’s your girl Cindy with CryptoPig. I’ll catch you guys around.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing.