US Firm Acquires Crypto Co., Swiss Digital Asset Exchange Gains License
In a recent press release, a major U.S. financial services firm announced its acquisition of CipherTrace, a blockchain analytics and cryptocurrency intelligence software provider. According to the press release, this will allow the financial services firm to “drive continued innovation with a diverse range of partners” and provide an “integrated offering” that will “provide businesses with greater transparency to help identify and understand their risks and to help manage their digital asset regulatory and compliance obligations.” The deal is reportedly set to close by the end of the year.
In international developments, SIX Digital Exchange has received approval from the Swiss Financial Market Supervisory Authority “to go live with a fully regulated, integrated trading, settlement, and custody infrastructure based on distributed ledger technology for digital securities.” And in Argentina, an owner of luxury villas in the Mendoza wine region recently announced that it would be accepting payment in the form of bitcoin for purchases of its luxury homes.
Last, according to a recent report, Bitcoin Network energy consumption in 2021 has already beaten last year’s numbers. The report cites the Bitcoin Network as having consumed an estimated 67TWh of electricity in 2020, and it predicts that if current numbers continue, Bitcoin Network mining will use approximately 91TWh of energy in 2021 — as much as is used annually in Pakistan.
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Enterprise Firms Announce Polygon Integration and Shipping Data Solution
This week, a Big Four accounting and consulting firm announced that it is “using the Polygon protocol and framework to deploy … blockchain solutions on the public Ethereum blockchain ecosystem.” The press release notes the recent spike in transaction costs on the Ethereum Blockchain and that integration with the Polygon protocol will allow the firm “to offer enterprise users increased transaction volumes with predictable costs and settlement times and the option to move transactions onto the public Ethereum mainnet.” The press release also notes that the firm is “working with Polygon to create permissioned, private industry chains leveraging new models for handling transaction verification” and to “offer enterprises the comfort and security of a closed system but retain the close alignment with the public Ethereum mainnet.”
In other enterprise developments, the Global Shipping Business Network (GSBN) recently announced the launch of a new blockchain-enabled operating system for managing shipping industry data. According to reports, the new system includes a feature whereby “data is encrypted before it is sent to the GSBN platform, and as a result GSBN cannot see the data without the members’ authorisation.” In another…
Read more:Market Initiatives Announced in Crypto Compliance, Digital Asset Exchange, Blockchain
