Turkish Lawmaker Proposed to Launch a National Crypto

A Turkish lawmaker affiliated with the political party proposed a national cryptocurrency and to open its own bitcoin exchange  
23 February 2018   835

According to the Al-Monitor, Ahmet Kenan Tanrikulu, Turkey’s former industry minister and deputy chair of the Nationalist Movement Party (MHP) reported about the issuance of a state-controlled cryptocurrency.

The world is advancing toward a new digital system. Turkey should create its own digital system and currency before it’s too late.

Ahmet Kenan Tanrikulu

Turkey’s former industry minister

The 22-page draft has not seen a public release. But the news report showed the proposed Turkcoin would resemble asset-backed securities from Turkey’s Wealth Fund that includes large public assets including Turkish Airlines, the Istanbul Stock Exchange, Turk Telekom, the National Lottery and the Ziraat Bank, among others.

The suggestion followed Turkey’s deputy prime minister Mehmet Simsek statement. He said that the government would begin work toward launching a national cryptocurrency.

The draft includes an overview on the current cryptocurrency space in Turkey Moreover, Ahmet Kenan Tanrikulu in his 22-page report proposed to urge the government to install its own state-controlled bitcoin exchange.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   189

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.