KuCoin, a digital currency exchange based in Singapore, has rolled out support for the trading of the Ripple XRP cryptocurrency, Cryptovest reported. The platform now supports trading through eight pairs, including Ethereum, bitcoin, Tether, USD Coin, NEO, TrueUSD, Paxos Standard Token and KuCoin Shares. The exchange will reportedly open withdrawals for the digital currency on Wednesday (Dec. 5). KuCoin’s rollout comes as XRP and Ethereum are constantly vying for digital currency market cap, with XRP pulling ahead of Ethereum in November to become the number-two most valuable token.
In other news, General Motors (GM) could be looking into a way to manage autonomous car data with blockchain, CoinDesk reported. The platform could, for instance, help cars navigate: According to GM Global Technology Operations LLC in the patent application, “It is desirable to provide locations, information and densities of vehicles in regions in an online blockchain ledger for interoperable information-sharing between vehicles of participants for use in navigating routes.” The filing also noted that a system that included payments could help with parking, tolls and other charges.
Switzerland’s Swiss Financial Market Supervisory Authority (FINMA) has made guidelines public for crypto firms to earn a FinTech license, The Next Web reported. Even so, these firms can’t pay interest on any assets, and they cannot reinvest any funds. They must also provide detailed documentation that includes information about all board members, such as educational records, addresses and past job references. At the same time, firms must reportedly make a list of those who have a direct or indirect holding of 5 percent or greater in the businesses.
On another note, Standard Chartered and Itaú Unibanco Holding SA teamed up to create a syndicated loan blockchain platform, Reuters reported. To pilot the system, Itaú Unibanco financed $100 million through a club loan with Wells Fargo and Standard Chartered. The report noted that the banks used the platform to create the loan terms, though they did not make a money transfer. New York’s R3 blockchain startup created the Corda platform that was used to make the transaction.
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