01/03/2018: Biggest Stories in the Cryptosphere

1. Wellington Management Co. Joins The List Of Big Investors Looking Into Cryptocurrency

The $1 trillion investment management company Wellington Management Co. has joined the list of mainstream investors showing a serious interest in cryptocurrencies. A report released by the firm stated that there is a chance cryptocurrencies could become part of portfolios in some cases. The document was prepared by figures such as Research Analyst Matthew Lipton and Trading Technologies Principal Lee Saba. Despite avoiding a direct approach, the company is indirectly taking advantage of the boom in cryptocurrency and blockchain. For example, by investing in chipmakers making components for crypto mining. Furthermore, its systems have previously been upgraded in order to support Bitcoin derivatives trading.

2. Credit Suisse and ING Send Securities Using Blockchain Technology

Credit Suisse and ING have recently sent €25 million ($30 million) in securities to each other, through a platform powered by blockchain. Credit Suisse reported the transaction, which took place on an R3’s Corda distributed ledger platform, on its official website. The application was launched earlier last year through a collaboration between HQLAX and R3 along with five member banks, two of whom were Credit Suisse and ING. During an interview with Reuters, the Blockchain Initiative Lead, Herve Francois, said that the plan is for the application to go live by the end of the year, as this was just a trial.

3. Japanese Company Uses Solar Power To Mine Crypto

The Japanese producer and supplier of power Kumamoto-Energy, is using the excess energy it produces through solar power for crypto mining. The company previously announced it would enter the mining business through the establishment of an affiliate company called OZ Mining. Kumamoto-Energy itself partnered with TakeEnergyCorporation Co Ltd, the firm behind the ‘mega solar plants’ located in Kumamoto Prefecture. The impact the crypto mining industry would have on the environment in the long-term has often been a point of concern. However, this example shows how crypto mining could actually help with the adoption of renewable energy. Indeed, a wider use means lower prices which results in consumers being more willing to embrace it.

4. Singapore’s Central Bank Is Looking Into Possible Regulations For Cryptocurrencies

The Monetary Authority of Singapore (MAS), the country’s central bank, is currently contemplating the possibility of implementing new regulations to safeguard crypto investors. So far the city-state has told the public to be careful, rather than draw a regulatory framework. However, regulations are in place in case there is a risk of illicit activities taking place. Singapore is still one of the most open places for cryptocurrencies. Considering its plan to become the hub for FinTech, ICOs included, this does not come as a surprise.

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