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Paxtradings Crypto Minute: June 19, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: June 19, 2018

Trust Token Raises $20 Million From Horowitz and Paul

As reported by Coindesk, there is a new asset tokenization platform called “Trust Token” that has raised $20 million from Andreesen Horowitz (a16z) and Ari Paul (Blocktower). Trust Token plans to release tokens that are backed by physical assets, such as real estate or commodities. Their first release is “TrueUSD” which is a stablecoin aiming to compete with other coins like Tether. Currently users can apply for the pre-sale of Trust Token.

Square Receives A BitLicense From The State Of New York

The company Square, Inc. (think Cash App on your phone) has officially received a BitLicense from the state of New York. According to Yahoo Finance, this makes Square only the ninth company to obtain the infamous BitLicense in NYC. Square already holds a money-transmitter license and allowed users to buy and sell bitcoin earlier this year. Founder Jack Dorsey (founder of Twitter as well), has previously stated that he wants to see Bitcoin adoption grow, albeit in a company where the buying and selling of Bitcoin has been a move that was met with pushback. Square grew in popularity as the first application that allowed small businesses to accept credit card payments and his since grown into a payments behemoth alongside the likes of Venmo.

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