VeChain Confirms Partnership with BMW

During the rebranding event, VeChain CEO confirmed the rumors about VeChain and BMW partnership
27 February 2018   1460

Blockchain-based supply chain enhancement platform VeChain official announced the partnership with the German car manufacturing giant BMW. It was confirmed by VeChain CEO Sunny Lu during the event.

Before the announcement, rumors of the partnership between VeChain and BMW had been circulating in the cryptocurrency market for a while now.

After all, BMW is not the first car manufacturing company to partner with a blockchain firm. Not a long time ago, Volkswagen partnered with the Berlin-based blockchain firm IOTA, to utilize the latter’s massive data pool.

More than that, VeChain rebranded itself to VeChain Thor, a marketing stunt which has proven successful for many projects.

Besides the partnership with BMW, VeChain (currently VeChain Thor) has also announced a collaboration with Oxford University. The university will help with the technological development of the VeChain Thor platform as part of VeResearch.

Furthermore, yesterday, South Korean crypto exchange Coinnest listed VeChain Thor tokens.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   95

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.