Saturday 23rd June 2018
Mobile operator EE has said it will activate the UK’s first live 5G trial network in London’s Tech City in October –The UK government says organisations that are aiming to establish themselves or expand as Public Service Mutuals can now apply for a share of £1 million in funding -- India’s central bank raised its benchmark interest rate for the first time since 2014 to curb rising price pressures and calm financial markets as policy tightening in the US rattles emerging markets – A new report from South Africa's Reserve Bank (SARB) contains exception results for a trial of its blockchain-based system for interbank clearance and settlement. According to a release yesterday SARB says it has completed a 14-week "realistic" proof-of-concept that managed to settle the country's typical 70,000 daily payment transactions within two hours, taking an average of 1–2 seconds for each transaction while preserving full anonymity. Absa, Capitec, Discovery Bank, FirstRand, Investec, Nedbank and Standard Bank are among a slew of banks that participated in the exercise. Even so, despite the success claims, SARB says its proof-of-concept doesn't mean it plans to replace the existing real-time gross settlement (RTGS) system with a live blockchain implementation, yet – According to Mickhail Shlemov, VTB’s Capital’s head of research today, “With the demerger of Bank of Georgia Group’s investment business to Georgia Capital PLC, we have revised our forecasts for Bank of Georgia Group so that they now include only the banking business. We expect the bank to benefit from this demerger amid an acceleration in corporate loan growth (although retail lending is likely to decelerate), with the total loan book expanding at a CAGR of 11% in 2017-21F. However, NIM performance headwinds are likely to stay intact. Management has reiterated its strategic targets, and we also expect the bank to show ROE of more than 20% in the next three years, with a 40% dividend payout ratio. As a result, our new 12-month Target Price is GBp 2,300/share. This implies an ETR of only 14% (the stock is up 10% since demerger day).” On May 29th, Bank of Georgia Group (BOGG) announced the completion of the demerger of the Group’s investment business to Georgia Capital PLC. As a part of the process, the bank has issued 9.8mn shares (up to 19.9% of the total share count) to Georgia Capital. Yet the capital will also be diminished by a special dividend payment of some GEL 120mn (GEL 3.10/share), similar to the proposed BGEO Group payment – Reuters reports that European parliament member Danuta Huebner says that London’s call for EU access after Brexit under mutual recognition will not work. Equivalence would let the EU set the rules – Scott Eaton, the former chief operating chief for Europe at MarketAxess has been appointed CEO of Algomi following the departure of co-founder Stu Taylor earlier this year. Eaton has taken over the role with immediate effect and will focus on developing Algomi’s fixed income services, including data aggregation and the Algomi ALFA market surveillance tool – The FCPA Blog notes today that banking giant Credit Suisse Group has agreed to pay a $47m penalty to the US Justice Department to end an FCPA investigation into hiring practices in Asia -- The Securities and Exchange Commission (SEC) voted Tuesday to approve a proposal to modify the Volcker rule, the last of the five agencies responsible for the rule to do so. The proposal is now open to a 60-day public comment period. Treasury Secretary Steven Mnuchin called the move "an important first step" and noted Treasury's support for "better tailoring the application of the rule, preserving liquidity during periods of stress, decreasing unintended compliance burdens and encouraging capital formation." --

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INGOT Coin launch claims to link crypto universe to traditional markets

Monday, 09 April 2018
INGOT Coin launch claims to link crypto universe to traditional markets INGOT Coin (IC) says it aims to integrate the traditional financial industry with the blockchain innovation by offering a complete ecosystem that provides crypto holders the access to all financial services. http://www.ftseglobalmarkets.com/

INGOT Coin (IC) says it aims to integrate the traditional financial industry with the blockchain innovation by offering a complete ecosystem that provides crypto holders the access to all financial services.

The newly created ecosystem will be based on INGOT Coin (IC), which will be listed on the IC Exchange. The main purpose of this ecosystem will be bridging the gap between the crypto and current financial worlds. Using the IC Exchange combined with the IC Brokerage along with transactions going through the IC Digital Bank and IC Wallet, participants will be able to smoothly and swiftly transfer their funds from the crypto world to the traditional instruments and vice versa. The ecosystem will provide 24/7 services to all stakeholders benefiting from the IC community and other aspects of the IC ecosystem.

Iman Mutlaq, the founder of INGOT Coin says, “To further expand on the ecosystem; we aim to establish the first decentralised commodity exchange that is based on the distributed ledger technology. The aim of this phase is to increase productivity of small farmers by providing them with a transparent price discovery mechanism”.

The ecosystem will also include certified experts from the blockchain field whom are able to transfer knowledge by training, teaching and certifying interested individuals, companies and potential ICO Entrepreneurs through the IC Crypto Certifier, that later will be pipelined to the IC ICO Accelerator. The Community component will include advisors, attorneys, fundraising companies, tax advisors, token designers, blockchain developers and PR agencies. The Ecosystem will provide a unique payment solution that will let clients manage their funds in a different way by giving them the choice of using Crypto currencies as a way of transferring or withdrawing their money through IC digital bank and IC wallets.

INGOT has been a player in the global financial market since 1993 and provides a variety of products and services which include ETFs, international shares and indices, commodities, metals, energies, as well as currencies. INGOT also says it introduced the concept of short-selling in the Middle East and North Africa instruments.

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