#CryptoCorner: CME (NasdaqGS: $CME) #Bitcoin Futures Grow as BTC Nears $10K, Avril Group Joins IBM (NYSE: $IBM) Food Trust #Blockchain
Point Roberts, WA, Delta BC February 7, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Stocks discussed: (NasdaqGS:CME) (NYSE:IBM)
Bitcoin (BTC) futures from CME Group Inc. (NasdaqGS:CME) are seeing high trading volume following the cryptocurrency’s recent bull run throughout the week. During an appearance on CNBC’s Closing Bell, CME Group Chairman & CEO Terry Duffy chalked up the renewed interest in Bitcoin to its perception as a more secure asset:
“People are using Bitcoin a lot…it’s more of a safe haven, similar to a gold trade.”
According to data from CoinMarketCap, Bitcoin is still hovering around a trading price of $9,800 with a market cap of about $178 billion at press time. The flagship cryptocurrency accounts for 64 percent of the wider crypto market, which has a total market cap of $278 billion heading into the weekend.
Lightning Labs, the company that develops software for blockchain payment protocol Lightning Network, recently announced in a blog post that it had raised $10 million in a Series A funding round. The company’s co-founder and CEO, Elizabeth Stark, also revealed the beta release of Lightning Labs first paid product, Lightning Loop. According to the Stark:
“Loop helps startups, node operators, and end users send and receive on Lightning more efficiently. With Loop, users can move funds between the bitcoin blockchain and the Lightning Network in a non-custodial manner. Loop opens up a world of Lightning-native financial products, and this is the first of several “blue sky” Lightning products we’re building.”
IBM (NYSE:IBM) has announced that Avril Group, a French company that operates in the vegetable oil and protein industry, has joined IBM Food Trust. IBM Food Trust is described as “a blockchain-enabled global ecosystem for the food industry.” Avril Group aims to enhance traceability in its product range, as well as make advances in its corporate social responsibility in the areas of “quality livestock … and the consideration of animal welfare.”
Blockchain-based commercial payments platform Paystand recently announced that it had raised $20 million in Series B funding. According to the press release, “The Paystand platform makes complicated commercial transactions and payments as easy and fast for enterprises as Venmo has done for basic consumer-to-consumer transactions.” Paystand plans to use the funds raised to expand its products and services, as well as its engineering teams. Jeremy Almond, CEO of Paystand, commented:
“We’re thrilled to bring together such an iconic group of investors who share our ambition for a more open financial system. We made a promise to reboot commercial finance because it’s insecure, inefficient and built on trustless networks and technology. Today marks another step towards realizing that vision and transforming enterprise finance. We are committed to taking the industry and our customers on a ‘journey to zero,’ without fees, paper, or limits on growth.”
Sam Mowers, Investorideas
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