State Street to Join Forces With Gemini

The cooperation started in order to test the reporting scenarios when working with Bitcoin and Ethereum
18 December 2019   560

The American depository and investment company State Street on Tuesday announced its cooperation with the Gemini cryptocurrency exchange as part of a test of reporting scenarios for working with digital assets.

During the project, the reporting process will be monitored when working with two cryptocurrencies: Bitcoin and Ethereum. These assets are in Gemini's wallets, which store them for the benefit of an unnamed customer. They were selected for liquidity reasons, but other digital assets can also be added to the system, including tokenized securities.

The project participants call it the first of its kind and expect that with their help they will be able to coordinate reporting for digital assets located on Gemini digital wallets with procedures in the area of ​​traditional assets, where State Street operates.

With trillions of dollars in assets under management, State Street will never compromise on security – and neither will we. Traditional investors will more seamlessly be able to allocate capital in their portfolio to digital assets through trusted and regulated financial institutions — helping us build a better bridge to the future of money.

 

Tyler Winklevoss

Gemini CEO

State Street previously conducted a survey among its customers and found that 38% of them intend to increase investment in digital assets in 2020.

There is small, but growing demand from our clients for solutions of this type and many technical, operational, regulatory, and legal considerations to be addressed. That is why we have opted for an open model, and started a pilot with Gemini as an established, regulated player in the digital asset space.

 

Ralph Achkar

Managing director of Digital Product Development and Innovation at State Street

Previously, the two companies already had experience working together - State Street acts as the custodian of dollar security for GUSD stablecoin issued by Gemini.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   244

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.