Market Analysis Report (12 Feb 2019)

New Proposed ETF Would Mix Bitcoin Futures With Sovereign Debt

Yesterday, Reality Shares ETF Trust, a branch of Blockforce Capital, filed a Form N1-A with the U.S. Securities and Exchange Commission (SEC) in partnership with NYSE Arca, proposing to launch the Reality Shares Blockforce Global Currency Strategy ETF. According to the filing, if authorised, the fund would invest in a portfolio which includes “high-quality, short-term sovereign debt instruments listed for trading on U.S. exchanges and denominated in U.S. dollar, euro, British pounds sterling, Japanese yen and Swiss francs,” as well as bitcoin futures, money market mutual funds and/or other cash equivalents. The proposal explains:

“The Adviser initially constructs the Fund’s portfolio by investing approximately (i) an equal-weight of 15 [percent] of the Fund’s net assets in Fixed Income Securities denominated in each Fiat Significant Global Currency; (ii) 15 [percent] of the Fund’s net assets representing notional exposure in Bitcoin Futures and (iii) 10 [percent] of the Fund’s net assets in Money Market Instruments for margin and/or cash management purposes, each as measured at the time of purchase (the ‘Target Portfolio’).”

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Ripple Helping UAE Exchange and Unimoni to Launch Cross-Border Payments to Thailand

Last Sunday, Finablr, the UAE-based parent company of two international remittance firms, UAE Exchange and Unimoni, announced that these two companies have joined Ripple’s global payment network, RippleNet, and will be using Ripple’s technology for cross-border payments. According to the announcement, the first country to benefit from this partnership with Ripple is Thailand, with Siam Commercial Bank, one of the largest banks in the country. Promoth Manghat, Executive Director and CEO at Finablr and Group CEO at UAE Exchange and Unimoni, said:

“The adoption of blockchain opens up considerable potential to streamline remittances and provide a frictionless, fast and secure payments experience. The launch of this service is a significant milestone for us in our commitment to enable seamless services for our customers, and we thank our partners Ripple and Siam Commercial Bank for their collaborative support in this journey.”

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GM Financial Partners With Blockchain Startup to Fight Identity Fraud

Yesterday, General Motors Financial said that it is partnering with blockchain startup Spring Labs to look for solutions for identity verification. Mike Kanarios, Chief Strategy Officer for GM Financial, said that the firm is pleased to collaborate with Spring Labs as a member of the Spring Founding Industry Partners program, which aims to create a regulatory compliant solution for ID verification and identity fraud prevention. Recently, Spring Labs announced signing up a number of fintech firms to the program, such as SoFi, OnDeck Capital, Avant, GreenSky, Funding Circle, BlueVine, Fundation, Upgrade, Fundbox and Better Mortgage.

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