Robinhood continues its plans for crypto-world-domination, R3 drops a huge announcement and top 5s — Enjoy!
Robinhood *May* Be Developing *At Least* A Wallet Application For Users
As read on ccn.com, Business Insider first spotted the stock trading giant’s plans for a wallet and more through a job post online. Robinhood launched fee-less cryptocurrency trading earlier this year and continues to try to threaten cryptocurrency companies like Coinbase. The wallet would allow users to withdraw their cryptocurrency from other exchanges and deposit it directly to Robinhood instead of having to cash out the cryptocurrency first and depositing fiat onto the platform. Robinhood is currently offered in the following states: New Hampshire, Montana, Missouri, Massachusetts, California, Arizona, Colorado, Florida, Indiana, Michigan, Mississippi, New Mexico, Pennsylvania, Utah, Virginia, Wisconsin and Texas, with the latter being the most recent addition.
ASIC Chip Giant To Launch IPO After Huge Bitcoin Mining Boosts
Ebang Communication is going public on the Hong Kong Stock Exchange, as reported by ccn.com. The company is the third largest producer of application-specific integrated circuit (ASIC) chips that are used for Bitcoin mining. Originally rumored by Reuters, the IPO may be used to raise funds for continued production of the new, more efficient 7nm chips. Ebang Communication has one other competitor out of Japan producing the same chip, so a head-start on production with what could be $1 billion in funding through an IPA would be a welcome strategy for the ASIC giant. Previously Canaan Creative, the second largest Bitcoin mining manufacturer, filed an IPO application as well.
R3 Announces Cordite Community, Focusing On Digital Assets For Banking Institutions
Business-blockchain-builder R3 has announced huge news in the form of its brand new “Cordite.” Cordite will be for business and banking “what ERC-20 was for Ethereum” according to the Coindesk article posted this morning. The Cordite community will focus on bringing various assets into the digital world and onto their Corda blockchain. The main contributor to the community-focused project is the Royal Bank of Scotland, one of the 30 largest financial institutions in the world. The announcement comes at a time when R3 has been relatively quiet in the industry, with rumors of poor financial health for the company.