Recent SEC filings reveal that Silvergate Bank, which reportedly provides banking services to almost 500 customers in the cryptocurrency industry, is preparing to go public. The news comes as cryptocurrency exchange Coinbase recently opened an over-the-counter trading desk and, as a major New York stock exchange, confirmed plans to launch bitcoin futures products early next year. Alongside these developments, the long-sought approval of Bitcoin ETFs appears unlikely in the near future, based on recent comments from SEC Chairman Jay Clayton, who cited continued concerns over a lack of adequate investor protections, including difficulties mitigating risks related to cryptocurrencies being stolen or manipulated on exchanges.
As cryptocurrency continues to permeate capital markets, blockchain continues to permeate the backend systems that operate those markets. According to reports, a major global bank-owned currency trading utility recently went live with a blockchain-based payment netting platform designed by one of the world's largest technology companies. In addition, an Abu Dhabi bank recently announced that it had settled a $500 million bond on a new blockchain-based system, and a consortium founded by global oil giants has announced the launch of a blockchain-based platform to facilitate trading in crude oil between commodity firms. Also this week, blockchain startup Harbor officially launched its security token compliance platform and announced plans to offer tokenized shares in a high-rise building located in South Carolina.
For more information, please check out the following links:
- Silvergate Bank Files for IPO to Grow Cryptocurrency Services
- Nearly 500 Crypto Startups Bank at Silvergate, IPO Filing Reveals
- Coinbase Quietly Opened Its OTC Crypto Trading Desk This Month
- Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say
- Nasdaq, VanEck Partner to Launch 'Crypto 2.0' Futures Contracts
- Goldman, Morgan Stanley Go Live With CLS' IBM-Powered Blockchain
- Abu Dhabi Bank Settles $500 Million Bond on a Blockchain
- Blockchain Oil Trading Platform Backed by Shell and BP Is Now Live
- Harbor Launches Tokenized Equity Purchases With Real Estate Offering
- Bitcoin ETFs Roadblocked by Lack of Safeguards, SEC's Chief Says
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