Citi Won't Issue Own Coin

According to the original idea, Citicoin could simplify the process of international payments; but  the initial tests forced the bank to abandon this idea
18 March 2019   393

International financial conglomerate Citigroup is not going to release its own cryptocurrency token, CoinDesk reports.

The question of creating such a tool in the banking group was raised in 2015. However, it was decided that the existing technological solutions are more efficient, which makes it more expedient to allocate resources for their further development, rather than for new research related to cryptocurrency. Despite some discussions about this in the past, the company has never officially announced the creation of Citicoin and has not demonstrated its experimental samples.

According to the original idea, Citicoin could simplify the process of international payments. Gulru Atak, Citi's head of innovation in storage and trade, said that the initial tests forced the bank to abandon this idea.

Citi, however, continues to work with financial technology. 

Based on our learnings from that experiment we actually decided to make meaningful improvements in the existing rails by leveraging the payments ecosystem and within that ecosystem, we are considering the fintechs as well or the regulators around the world as well, including SWIFT.

Gulru Atak

Innovation lab chief, Citi 

As an example of Citi’s blockchain project, Attack mentioned the CitiConnect system, which focuses on working with non-issuable securities.

[CitiConnect] didn’t issue stablecoins but the infrastructure that was used was similar to issuing coins on a blockchain platform,” Atak  said. “But it was purely to integrate into a blockchain-enabled system on our client’s end and make it connect to our legacy payment processes real-time.

Gulru Atak

Innovation lab chief, Citi 

In mid-February, it became known about the release of JPMorgan's own stablebcoin bank.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   1170

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”