ConsenSys, a major blockchain firm founded by Ethereum co-founder Joseph Lubin, has acquired an American broker-dealer, Heritage Financial Systems. Heritage, a broker-dealer registered with the United States Securities and Exchange Commission (SEC), has been acquired by ConsenSys’s own broker-dealer, ConsenSys Digital Securities. ConsenSys’ blockchain-powered commerce and finance arm ConsenSys Codefi announced the news on Feb. 4. Heritage acquisition to bolster ConsenSys advisory and broker-dealer capabilities By purchasing Heritage, ConsenSys intends to reinforce its advisory and broker-dealer capabilities that will help the firm to implement blockchain technology for issuing tokenized bonds offerings in the municipal market. Emma Channing, a representative of …

Bitcoin (BTC) will likely benefit from a sharp drop in Asian stock markets due to coronavirus, cryptocurrency analysts believe. Cryptocurrency market daily overview. Source: Coin360 Stock markets begin “very volatile week” Data from Coin360 and Cointelegraph Markets showed BTC/USD already making swift gains on Feb. 3, spiking to highs of $9,580 overnight before a slight correction to $9,380. At the same time, the Shanghai Composite Index, or SSE, opened down almost 8%, as fears over the economic impact of coronavirus continue to heighten. Authorities have fielded criticism for their handling of the outbreak, with China’s central bank injecting a huge …

Bitcoin (BTC) outperforms major assets such as gold, real estate and stocks if an investor holds it for just four years, popular data confirms. Highlighting the success of Bitcoin as an investment tool on Jan. 22, veteran cryptographer Nick Szabo noted Bitcoin is so far unmatched compared to many other assets broadly considered profitable. Szabo: BTC hodlers “have low time preference” Szabo linked to a chart from statistics resource Woobull, which placed Bitcoin against United States stocks and real estate, as well as gold, bonds and emerging currencies since 2012. Using the Sharpe ratio to calculate risk-adjusted returns, Woobull creator …

Publicly-listed mining company Argo Blockchain had a tenfold increase in revenue for 2019 over the previous year, ProactiveInvestors reports on Jan. 20. Its shares bounced as the company plans further expansion in the upcoming year. Argo Blockchain PLC is a company operating mining rigs for profit, as well as providing Mining-as-a-Service (MaaS) to institutional investors who are “looking to hold specific coins but do not want to procure via exchanges.” Based in London and listed on the London Stock Exchange (LSE), its mining capacity is reportedly based in Quebec, leveraging the region’s cheap hydroelectric power. In a trading update, the …

A company that uses smart contracts to manage arbitration and dispute resolution around blockchain transactions announced on Jan. 17 its intention to list on the Main Market of the London Stock Exchange. Proof of Trust Ltd did not give any financial details or timetable for the listing, but CEO Dean Armstrong said that the company was excited at the prospect of the listing and “look[s] forward to providing investors with the opportunity to share in this groundbreaking project." Insurance protocol for smart contracts and blockchain transactions The company describes its proprietary technology as standing to be the first-ever “insurance protocol …

Bitcoin (BTC) presented historically low volatility this year, argues the Dec. 2019 SFOX report released on Jan. 8. Coupled with a lower correlation with altcoins, there are emerging signs that the market could start to behave in a more predictable way. However, the cryptocurrency asset class remains disproportionately risky compared to the stock market. In its final monthly report for 2019, the analytics firm SFOX analyzed the yearly performance of Bitcoin and other cryptocurrencies. Compared to traditional assets such as gold and stocks, Bitcoin held a remarkably low correlation index for the past six months. Its average 30-day correlation amounted …

Famous gold bug Peter Schiff made another anti-Bitcoin (BTC) claim, pointing out that it’s the only asset class that is not rallying by the end of 2019. As United States stocks recently hit new all-time high, Schiff has provided his sarcastic remark that Bitcoin’s price doesn’t correlate with performance of other asset classes such as U.S. stocks, precious metals and others. Schiff tweeted on Dec. 27: “Bitcoin is not disappointing those who claim its true value is that it’s a non-correlated asset. Every asset class in the world is rallying into the end of the year except Bitcoin. Not sure …

The stock exchange of China’s technology capital Shenzhen, the Shenzhen Stock Exchange (SSE), launched an index tracking the performance of 50 blockchain firms. According to an announcement on Dec. 24, the index will be based on the stocks of 50 companies listed on the SSE that participate in the blockchain industry. The top 50 blockchain-related stocks are ranked based on their average daily market value over the past six months. The index is updated two times per year: on the second Friday of June and December. Doing due diligence Before creating the index, the SSE made sure that the companies …

Japanese financial services giant SBI has partnered with Germany’s second-largest stock exchange Boerse Stuttgart Group to promote the adoption of digital assets. Specifically, SBI will invest an undisclosed amount in two digital asset-focused subsidiaries of Boerse Stuttgart Group — Boerse Stuttgart Digital Exchange (BSDEX) and Boerse Stuttgart Digital Ventures, Cointelegraph Japan reports Dec. 20. BSDEX is a new cryptocurrency exchange venture launched by Boerse Stuttgart Group in September 2019, while Boerse Stuttgart Digital Ventures is the parent company of Sowa Labs, a firm that developed crypto trading app Bison. SBI and Boerse Stuttgart Group to “create digital asset demand worldwide” …

More than 200,000 Robinhood clients have already expressed their intent to use its new fractional stock trading app announced yesterday. Vladimir Tenev, co-founder at Robinhood, said that the clients were “already in line” for the app, considering the early signs as “really promising,” CNBC reports Dec. 13. After Robinhood’s user base recently crossed 10 million accounts, the firm is now valued at $7.6 billion and plans to expand its business to the United Kingdom, according to recent data. Robinhood users can buy slices of Amazon shares and ETFs for just $1 Robinhood, a major California-based financial services firm that is …

Following the start of trading platform for selected investors in September, Börse Stuttgart Stock Exchange (BSDEX) has now opened to all interested users with residence in Germany. Börse Stuttgart made its announcement in a press release on Dec., 6. Trading venue open — under certain circumstances First of all, users will have to limit themselves to deposits and withdrawals as well as trading bitcoins against euros. In the future, BSDEX will also list other cryptocurrencies and digital assets like security tokens. Users will have to prove their identity digitally and fulfill certain requirements. To connect directly to BSDEX, users must …

German securities marketplace Deutsche Boerse and Swiss state-run telecom Swisscom have settled securities transactions using different blockchain protocols. In a joint proof-of-concept (PoC) involving a number of banks, the participants exchanged money in the form of cash tokens against tokenized shares, Deutsche Börse officially announced on Nov. 19. Based on blockchain technology, the joint PoC intends to show the potential of new technologies in the financial services sector and maintain Germany and Switzerland’s expertise in the digital asset ecosystem. Three major Swiss banks participated in the PoC The PoC involved major Swiss banks, including the fourth-largest Swiss bank Zuercher Kantonalbank, …