Libra created a new application

It is called Libra Crypto Office and intended for markets and funds
28 November 2017   605

Blockchain startup Libra has introduced a new compliance application for the institutional market, crypto funds, market makers and exchanges. The app is needed to connect to the broader ecosystem of cryptocurrency services and automate the real-time gathering of critical information. This application will be useful in different areas for example the tax, compliance, and risk assessment fields.

Further, we found without the right systems and processes, institutional investors were unwilling to allocate significant investment into the industry.With the introduction of Libra Crypto Office, we hope to continue industry efforts to upgrade information accuracy, transparency, and compliance practices.

 

Jake Benson

Libra CEO

Libra has already brought on two companies: market maker XBTO and cryptocurrency exchange service ShapeShift. Libra's offering is one of a growing number of blockchain services being pitched at the institutional crowd, which included hedge funds.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   89

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin