/ Blog Posts

FinTech Week in Review

By Ellie Lin

China leads the race with most Blockchain-related patents in 2017.

According to the Nikkei Asia Review, China filed more blockchain patent applications than the U.S in 2017, accounted for 56% and 22% respectively.
The chart below emphasizes this, showing that out of the top 10 companies for blockchain patent applications, 7 are based in China.

IBM Develops "Near Real-Time" SWIFT Network On The Blockchain with Stellar

Tech giant IBM has launched a blockchain-based financial solution. The Blockchain World Wire (BWW) payment network claims to reduce costs and transfer times for global payments and remittances.
The BWW, is used by IBM as a dollar-pegged digital currency ‘stablecoin’ (issued by Stronghold) and trades on the Stellar-based platform. This new solution eliminates the existing status quo; funds can now be transferred at a fraction of the cost and time between different parties and fiat currencies more quickly.

Bitcoin Price Stabilises: Market Recovery Expected After Flurry of Positive News

Bitcoin has found stability in the low range of $6,300 to $6,400, demonstrating decent volume at around $3.8 billion and pushing its dominance index to 56.1%. The recognition of the cryptocurrency sector by the European Commission is crucial for market growth. Valdis Dombrovskis, vice president of the European Commission, said that cryptocurrencies will co-exist with the financial system. The crypto sector has had arguably one of the best weeks in its nine-year history pertaining to institutionalization and regulation.

Hong Kong Startup Plans to Issue Asia's First Cryptocurrency Visa Debit Card in Singapore

Crypto.com, previously known as Monaco is preparing to issue 100,000 cards, starting in Singapore, over the next two months. This also includes crypto backed money lending. The debit card will be linked to fiat and crypto wallets supporting BTC, ETH, LTC, MCO and BNB in addition to seven fiat currencies including US, Singapore and Hong Kong dollars.