Last week ended with a flurry of crypto news. Among the developments are the following: Facebook expects to begin testing its GlobalCoin crypto by the end of this year, before launching in the first quarter of 2020. Grayscale announced that it has received approval for the public quotation of eligible shares of its Grayscale Ethereum Trust or ETHE; Coinbase unveiled full support for the heartbeat of Dai (DAI) open finance movement.
The cryptocurrency markets enjoyed a considerable bounce over the last several hours. At report time, BTC or Bitcoin and ETH or Ether, have been trading at $7,904.7 and $250.3. This is a rise of 4.4% and 6.9% respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is right now tracking at 3,843.3, an increase of 2.2%.
Facebook to start testing its crypto by the end of 2019
Many details of the crypto-based payments network of Facebook emerged, which actually reported that the social media giant strives to start testing of its crypto – internally dubbed GlobalCoin – by the end of 2019, before launching a dozen counties by the 31st of March, next year.
The social media giant expects to outline more details this summer, before highlighting that the governor of Bank of England Mark Carney has been briefed by the chief executive and founder of Facebook, named Mark Zuckerberg.
Some officials from the United States Treasury were approached by Facebook, too, with respect to the potential regulatory and operational problems. Furthermore, Facebook is also in talks with money transfer firms, which include Western Union, because it is looking for some faster and cheaper ways for people without a bank account to receive and send money.
ETHE or Grayscale Ethereum Trust gets the retail green light
Grayscale Investments, which is a firm based in New York with about $2 billion in assets under management, has announced that they have gained approval from the FINRA or Financial Industry Regulatory Authority to list eligible shares of its Grayscale Ethereum Trust, or ETHE.
Grayscale has pointed out that there is not going to be trading volume in the public quotation of Share unless the DTC or Depository Trust Company permits it. Grayscale, which is a DCG or Digital Currency Group subsidiary, added that ETHE is expected to receive the approval of DTC very soon.
ETH also marks the third publicly quoted investment product of Grayscale. It follows the Grayscale Bitcoin Trust, or GBTC and Grayscale Ethereum Classic Trust or ETCG.
Coinbase unveiled full support for DAI
Coinbase has announced that Dai or DAI is now available to purchase, as well as trade for the users of Coinbase.com. DAI is actually the stablecoin native to MakerDAO or MKR, which is designed to offer a value-stable asset which doesn’t suffer from the high volatility levels seen around the crypto market.
This move has surprised a lot of pundits within the ETH and DeFi or decentralized finance space, as Coinbase is already co-managing the USDC or USD Coin, which is a rival stablecoin that CENTRE Consortium developed last year.
Coinbase, which is a leading crypto exchange headquartered in the United States, has already listed DAI last December. But, it has only been made accessible on Coinbase Pro, which is an exchange owned by Coinbase and targeted at professional and institutional traders.