Samsung is expanding its blockchain financial services in Europe

Supreme Court of India overturns banking ban on crypto companies

The Supreme Court of India has ruled against a decision imposed by the country’s central bank almost two years ago. According to a Bloomberg report, judges have ruled in favor of petitions filed by crypto exchanges in India.

In April 2018, the central bank of India issued a decision banning domestic financial institutions from providing banking services for cryptocurrency companies. Most of the crypto exchanges operating in India needed to close their business or make changes to their business model.

“Lifting the ban by the Supreme Court will open new opportunities for India in terms of investments, the economy and the crypto market as a whole”,

said Sumit Gupta, founder and CEO of CoinDCX.

“Now that this circular has been canceled, the biggest obstacle to date, access to banking services, should disappear. This will provide sufficient liquidity and market access for many crypto exchanges ”,

said Tanvi Ratna, CEO and founder of Policy 4.0, which is working on developing cryptocurrency policies in India.

Samsung is expanding its blockchain financial services in Europe

Samsung’s technology arm expands its blockchain financial services. Build a blockchain-based settlement solution for merchants and banks. Korea Herald reported on Wednesday that Samsung SDS has signed a memorandum of understanding with Israeli fintech solutions provider Credorax to develop the solution. Part of the proposed solution will be developed using the Samsung SDS Universal Nexledger blockchain platform. This technology will allow merchants to automatically record payments, remittances and invoices in bank records.

The product, which has not yet received an official name, will be integrated into a payment platform built using AI developed by Samsung SDS subsidiary, Brity Works.

Cooperation with Credorax, which already offers solutions to EU companies, will allow Samsung SDS to extend its services to the European market.

“Together with Credorax, which specializes in payment solutions, Samsung SDS will try to expand its business in the European sectors looking for digital transformation”,

said the CEO of the company.

Matrixport is looking to raise $ 40 million to expand its crypto services

Singapore-based startup Matrixport is backed by Bitmain, and is expanding its financial services for crypto-investors and professional traders. According to a report published by Bloomberg, the company wants to raise $ 40 million from investors.

The company is the main investor of Jihan Wu and separated from Bitmain in 2019, when the mining hardware manufacturer was in financial trouble.

The startup recorded revenues of between $ 7 million and $ 8 million last year and expects the figure to be more than double by the end of 2020. Matrixport offers cryptocurrency-based custody, trading, lending and payment services for institutional customers.

In addition to Bitmain, the company’s strategic partners are BTC.com, Antpool, CoinEX, BITDEER and many more. Currently, the Matrixport valuation is about $ 250 million.

HTC is planning a 5G router that can run a complete Bitcoin node

Electronics maker HTC is working on a new blockchain router that will allow customers to run a complete Bitcoin node at home.

The new device, called EXODUS 5G Hub, will be launched in the second quarter of this year. It aims to improve the confidentiality of data, allowing users to keep their keys through a hardware wallet.

The blockchain router allows users to run a complete Bitcoin node through ZionVault. Users will be able to transmit transactions independently of any third party.

The EXODUS 5G Hub will integrate a number of privacy applications, such as the ProtonMail email service, the Brave open-source Internet browser and the Incognito decentralized VPN. HTC has also partnered with other players in the crypto ecosystem, including Binance and decentralized financing products (DeFi), such as Compound and Uniswap.