Here’s the scoop for what’s going on this week in cryptocurrency…
Consensus 2018 Takes Place in NYC
Cryptocurrency advocates from around the world are all embarking to New York City as Consensus 2018, put on by Coindesk, takes place.
The consensus is one of the largest cryptocurrency based conventions and attracts major companies from around the world.
While it is currently going on, we will see what comes of it next week after it is over.
And if you want to watch it live streamed you can for free at: https://www.coindesk.com/events/consensus-2018/live/
Coinbase Targets Institutional Investors “$10 billion.”
Adam White, Coinbase vice president, and general manager, recently told CNBC:
“We think this can unlock $10 billion of institutional investor money sitting on the sideline. We’re seeing a rapid increase in attention awareness and adoption in the cryptocurrency market.”
This is all about their suite of products aimed at institutional investors.
Namely, Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime which they aim to use to onboard the institutional investors.
And after announcing Coinbase Custody in 2017, they think that they are ready to target and onboard the big players in the industry.
Japan’s (MUFG) Aims To Trial Its Cryptocurrency
Lastly, we have the fifth largest bank, Japan’s MUFG, to trial its cryptocurrency.
That means that their trail of MUFG coin may involve 100,000 account holders (1) using this coin to be a currency, first and foremost.
Test customers will download an app that will automatically convert deposits, and each MUFG will be equal in value to 1 Yen.
These are exciting times as cryptocurrency starts its gradual, but smooth run back up to the previous highs we saw at the beginning of the year.
Thanks for reading,
The GCA Team