Copper’s Weekly Update – 18 May 2020

Highlighting what went right, and what went wrong, in this week’s crypto news analysis.

Copper Team

Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.

A momentous week for the Copper team, first releasing ClearLoop into the wild, then winning HFM Week’s Best Digital Custodian award (for the second year in a row!).

Deribit have been key partners in launching ClearLoop, and you can read more about what the integration means from the exchange’s perspective here. For existing clients, if you would like the industry’s best off-exchange settlement feature enabled for your account just get in touch with your account manager and ask for ClearLoop.

And finally, the ever expanding retail world of crypto has now reached as far as Hogwarts, as author JK Rowling asks the Twitterverse to explain what Bitcoin is. None other than Tesla CEO Elon Musk was, of course, on hand to offer his two cents (satoshis).

Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.

Copper launches ClearLoop crypto off-exchange settlement tool

On Thursday, we announced the launch of ClearLoop, a tool enabling instant and secure off-exchange settlement. Described as a game-changer for bringing institutions into crypto, with ClearLoop, assets are tradable on the exchange in less than a second. Assets are also insured in third-party custody, removing concerns about self-custody, all the while eliminating counterparty risk and the associated limitations with volume.

Our solution has been integrated into popular crypto options exchange Deribit, in addition to five further exchanges including AAX, Bitfinex, CoinPass, Deversifi, and Xena.

Read More

Visa patent filing would allow Central Banks to mint digital fiat currencies

Last week, the US Patent and Trademark Office (USTPO) USPTO published on its website that Visa had filed a patent application to create digital currency using blockchain technology.

Described as ‘Digital Fiat Currency’ the patent was initially filed by the credit card giant in November 2019 and outlines a process leveraging distributed ledger technology to turn physical fiat currency into a newly digitised version.

Read More

Telegram abandons its TON blockchain platform

Telegram confirmed on Tuesday that its TON project would be discontinued due to the company’s ongoing legal fight with the SEC. Founder Pavel Durov wrote in his public channel that American courts shouldn’t have the power to stop the sale of cryptocurrency beyond US borders.

He also urged others to take up the decentralisation fight in Telegram’s stead, commenting: “This battle may well be the most important battle of our generation. We hope that you succeed where we have failed.”

Read More

Latest Coin News

BTC

alt

  • Price Analysis: A triangle resistance continues to hold buyers back but if broken, BTC/USD could tackle resistance at $10,120 Read more
  • JPMorgan Opens Accounts For Bitcoin Exchanges— Coinbase And Gemini Up First Read more
  • Firm with ties to former ‘Sheriff of Wall Street’ discloses $140 million Bitcoin fund Read more

ETH

alt

  • Price analysis: Breaks above descending channel support but the steam fizzles out at $215 Read more
  • Reddit to launch Ethereum-based tokens for cryptocurrency and Fortnite subreddits Read more
  • Institutional investors can trade Ether futures on a regulated U.S. exchange for the first time, ErisX Read more

XRP

alt

  • Price Analysis: A break above the descending trendline resistance could pave the way for more action towards $0.21 and $0.22 Read more
  • Ripple is working on a loan offering that will work in connection with its XRP payment solution Read more
  • Ripple settlements are coming to Japanese ATMs Read more

 

Subscribe today to receive these updates directly to your inbox every Monday morning.

Independent custody
connected to multiple exchanges
Our settlements and clearing service is backed by our award winning custody technology