Dubai’s Biggest Realtor Now Accepting Crypto

According to news reports, the biggest realtor in the United Arab Emirates (UAE), Emaar Properties will now be accepting cryptocurrency payments for their properties.

The company has not yet confirmed this but information was shared by a Dubai based brokerage firm, Invest Group, reveals that all register agents have received email from Emaar stating that customers will now be able to buy Emaar properties using Bitcoin and Ethereum.

Emaar Properties will accept cryptocurrency payment via Bitcoin Suisse which will facilitate the transaction.

The payment processor is considered one of the biggest brokers of digital currencies and is a regulated business entity based in Switzerland.

They will be in charge of converting the digital assets into fiat. Emaar will not get digital assets directly, Bitcoin Suisse will convert the supported crypto into fiat.

Emaar Properties is the developer of the tallest building in the world, Burj Khalifa. It has a total revenue of about $6billion.

With the new payment option the company just become the biggest company in UAE that is now accepting crypto.

Japanese Banking Giant To Release Its Own Yen-Pegged Cryptocurrency

The Japanese banking giant Mizuho Financial Group is said to launch its own Stablecoin on March 1.

This was according to a local news outlet that broke the news last February 21, 2019.

The initiative will include around 60 counterpart financial institutions which has an estimated 56 million user accounts.

The digital currency platform, J-coin will directly link existing bank accounts with digital wallets.

The new cryptocurrency will have its own mobile application called J-Coin Pay that will enable its users to transfer between bank accounts and J-Coin wallet without transaction fees.

J-Coin wallet users need not be required to undergo credit checks and will be open to users below the age of 18.

Mizuho Financial Group is a public banking holding company that has over $1.8 trillion in assets as of December 31, 2018.

Currently, the bank is busy negotiating with retail industry players locally and internationally notable of these is Alibaba’s Alipay.

CME Group Record Breaking BTC Futures Contracts Traded In 2019

It has been recently revealed that the Chicago Merchantile Exchange (CME) have been posting a record number of Bitcoin (BTC) futures contract traded in the first Quarter of 2019.

According to an email from a CME representative, February 19, 2019 saw the largest ever contract traded in a day with around 18,880 contracts traded This is equivalent to 91,690 bitcoin or around $360M USD.

The email also reveals that since November of last year the exchange has seen a gradual increase of institutional interest.

There has also been an increase in the number of Large Open Interest Holders (LOIH).

These are entities that holds at least 25 BTC contracts.

Bitcoin Futures Contract is an investment product that provides an opportunity for firms and investors with an account with a registered futures broker to bet on the future price of Bitcoin.

Contracts are based on the CME CF Bitcoin Reference Rate (BRR) which aggregates prices from major spot markets.

IBM Cryptocurrency Chief Predicts Bitcoin To Reach $1 Million Price

Jesse Lund, Vice President of Blockchain and Digital Currencies at IBM, has recently revealed his long term price target for Bitcoin (BTC).

According to the executive he has set a long-term price target of around $1million USD. He shared this prediction in an interview conducted during the recent Think Conference which his company hosted.

Earlier this year he predicts that the price of bitcoin will be around $5,000, however in the long-term he has a very different price target.

If his prediction where to come true then the capitalization of Bitcoin would reach $20 trillion.

He also adds that the higher the value of Bitcoin the higher its utility.

If and when the price of Bitcoin reaches a certain level, banks will take the emerging class more seriously and will have more interest, when this happens the utility of the crypto increases.

Such a bullish statement coming from an executive of a technology giant that has been the technological service provider of financial institutions around world is just remarkable.

Just as remarkable as the burgeoning asset class which has been disrupting financial sector for several years now.

Latin American Bank Launches Its Own Security Token

Banco BTC Pactual SA, the largest Latin American investment bank is reported to release its won blockchain-based security token.

This was reported by an online financial news outlet last February 21, 2019.

The token will be called ReitBZ and will be backed by distressed real estate assets in Brazil.

According to Andre Portilho, BTG’s lead of the project the bank has been exploring the technology behind cryptocurrencies for several years now but has drawn to the conclusion that they are too volatile as an asset class.

However they have seen potential of tokenization which they believe will be able to bring them more international investors.

The bank hopes to raise $15 million through the initial coin offering.

Buyers of the token will be able to purchase ReitBZ via a special platform using either Gemini Dollar (GUSD) stablecoin or Ethereum (ETH).

The bank states that investors will receive periodical dividends from the recovery of distress assets.

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