Blockchain ETF launches; Frankfurt Stock Exchange’s parent company is building a digital asset ecosystem; U.S. sanctions Russian bank; Fidelity’s custody is live
Deutsche Börse Group, the parent company of the Frankfurt Stock Exchange, announced that they have partnered with Swisscom and Sygnum and are building a “trusted digital asset ecosystem.” The proposed solutions they will be offering will include issuance, custody, liquidity provision and banking services, among others, all using blockchain tech. Coindesk’s analysis goes into depth about the services the ecosystem will provide along with what current regulatory hurdles they are facing.
The U.S. Treasury Department sanctions a Russian bank, Evrofinance Mosnarbank, connected with the creation of the Petro. The Treasury Department in a press release March 11th is accusing the bank of assisting the circumvention of sanctions placed on Venezuela. Evrofinance, when the Petro was launch in early 2018, was more than willing to organize and facilitate the wire transfers from investors attempting to purchase the Petro.
“Today’s action, taken pursuant to Executive Order (E.O.) 13850, targets a foreign financial institution that has materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Petroleos de Venezuela S.A. (PdVSA), which is itself an entity that has long been a vehicle for corruption, embezzlement, and money laundering by Maduro and his cronies.”
Atlanta-based financial management group, Invesco, launched a blockchain ETF on the London Stock Exchange on March 11th. This ETF, however, instead of holding specific cryptocurrencies, they will hold established companies who are involved with blockchain. Cointelegraph’s Adrian Zmudzinski gives an overview of the new ETF and history behind it.
We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, endowments, other institutional investors. More on our project: https://t.co/EkJ2pWJt2Y #DCBlockchain
— Fidelity Digital Assets (@DigitalAssets) March 7, 2019